Eco Bright Future, Inc. reported significant financial challenges in its latest 10-Q filing for the period ending September 30, 2024. The company recorded total sales of $1,446 for the nine months ended September 30, 2024, a stark decline from $29,172 in the same period of the previous year. This drop in revenue is attributed to a decrease in consulting services and blockchain technology software development.

Operating expenses surged dramatically, totaling $90,615 for the nine months ended September 30, 2024, compared to $16,553 for the same period in 2023. The increase is primarily due to professional fees related to merger activities and public reporting requirements, which accounted for $82,806 of the total operating expenses. Consequently, Eco Bright reported a net loss of $89,042 for the nine months ended September 30, 2024, a significant downturn from a net income of $13,108 in the prior year.

The company's financial position has deteriorated, with total current liabilities ballooning to $318,092 as of September 30, 2024, up from $10,868 at the end of 2023. This has resulted in a working capital deficit of $295,632, compared to a working capital surplus of $6,532 at the end of the previous fiscal year. Stockholders' equity has also shifted from a positive balance of $6,828 at the end of 2023 to a deficit of $(82,332) as of September 30, 2024.

In terms of strategic developments, Eco Bright has been active in expanding its market presence. The company is focusing on artificial intelligence and blockchain technology, particularly in real-world asset tokenization. It has plans to enter agreements in Thailand, Indonesia, and Guatemala, and is developing blockchain tools for El Salvador, Tunisia, and the UAE. The company also incurred $208,500 in software development costs during the nine months ended September 30, 2024, as it works on a blockchain-based software platform.

Despite these efforts, Eco Bright faces substantial risks, including the need for additional capital estimated between $5 million and $25 million over the next two years. The company has raised concerns about its ability to continue as a going concern due to accumulated losses and negative cash flows. Management acknowledges the necessity of generating revenue and accessing capital markets to alleviate financial pressures, but there is no assurance that these plans will be successful.

As of September 30, 2024, Eco Bright's cash balance stood at $17,532, an increase from $14,761 at the end of 2023, primarily due to financing activities that included loans from related parties totaling $305,383. The company continues to navigate a challenging financial landscape while pursuing its strategic objectives.