Bioforce Nanosciences Holdings, Inc. reported significant financial challenges in its 10-Q filing for the quarter ending September 30, 2024. The company continues to face recurring losses, with a net loss of $122,024 for the three months ended September 30, 2024, compared to a net loss of $113,607 for the same period in 2023. For the nine months ended September 30, 2024, the net loss was $367,277, slightly higher than the $357,543 loss reported in the previous year.

The company has not generated any revenue during both the three and nine months ended September 30, 2024, maintaining a gross margin of 0%. Operating expenses increased to $122,024 for the third quarter of 2024, up from $113,607 in 2023, primarily due to higher professional service costs. For the nine-month period, operating expenses rose to $367,277 from $357,543.

As of September 30, 2024, Bioforce reported total assets of $1,635, a significant decrease from $638 as of December 31, 2023. Total liabilities increased to $2,180,067 from $1,819,868, leading to a total stockholders' deficit of $(2,178,432), compared to $(1,819,230) at the end of the previous fiscal year. The company also reported a working capital deficit of $2,178,432.

The company’s cash position improved slightly, with cash on hand increasing to $1,635 from $638 at the end of 2023. However, the company has expressed concerns about its ability to continue operations due to these financial difficulties, indicating that its cash position may not support daily operations. Management has been relying on loans from officers to cover expenses, with related party transactions amounting to $39,338 in 2024.

Bioforce has shifted its business focus from manufacturing nano-particular measurement devices to providing natural vitamins, minerals, and nutritional supplements. The company is actively pursuing a marketing strategy to enhance brand awareness and drive sales through various channels, including retailers and online platforms. The product line includes the "BioForce Eclipse" nutritional powder, which is being marketed to health-conscious consumers.

The company has also formed a Business Advisory Committee to guide its strategic direction, comprising executives with extensive experience in media, entertainment, and sports sectors. Despite these efforts, the company has not yet achieved profitability and anticipates further losses before any potential revenue growth.