Nexscient Reports No Revenue, Significant Decrease in Operating Expenses and Net Loss for Fiscal Years 2024 and 2025

Nexscient, Inc., an emerging growth company focused on artificial intelligence (AI) and machine learning solutions, reported no revenue for the fiscal years ending June 30, 2025, and June 30, 2024. The company, which was incorporated in March 2023, is in the development stage and aims to build a global network of AI-enabled enterprise solutions. For the fiscal year 2025, Nexscient incurred total operating expenses of $488,042, a significant decrease of 48% from $937,592 in the previous year. This reduction was primarily attributed to a scaling back of project development expenses and a strategic focus on identifying acquisition candidates.

The company reported a net loss of $529,704 for the fiscal year 2025, down from a loss of $937,592 in 2024, reflecting a 44% improvement. The decrease in net loss was largely due to reduced research and development costs, which fell to $97,364 from $205,286, and a drop in general and administrative expenses from $732,306 to $390,678. The company also incurred interest expenses of $41,662 related to convertible debentures and a related-party loan. As of June 30, 2025, Nexscient had a cash balance of $100,470 and total liabilities of $566,269, which included $480,000 in convertible debentures.

In terms of strategic developments, Nexscient is actively pursuing acquisitions to enhance its service offerings. In August 2025, the company entered a non-binding Letter of Intent to acquire an AI data annotation and labeling company in the Philippines, with a total consideration of $600,000 in cash, a convertible debenture of $450,000, and the issuance of 6,520,000 shares of common stock. This acquisition is part of Nexscient's strategy to integrate synergistic AI and machine learning technologies into its operations.

Operationally, Nexscient currently employs three full-time staff and has no subsidiaries. The company is focused on building a comprehensive platform, the Nexscient Intelligent Enterprise Solution (Nexscient IES), which aims to deliver actionable insights for businesses in data-intensive environments. The company has not yet generated revenue but is positioning itself to capitalize on the growing demand for AI solutions across various industries, including manufacturing, healthcare, logistics, and financial services.

Looking ahead, Nexscient acknowledges the need for additional financing to support its operations and growth strategy. The company plans to raise funds through private placements and public offerings, as it anticipates continued operating losses in the near future. Management has expressed confidence in its ability to secure the necessary capital to execute its business plan, although there remains substantial doubt about the company's ability to continue as a going concern without generating revenue.