Based on the provided financial report articles, the title for the article is: "Form 10-K: Annual Report for the fiscal year ended December 31, 2024

Press release · 04/12/2025 05:14

Unfortunately, the provided text appears to be a financial report in XML format, which is not easily readable or summarizable. However, I can try to extract some key financial figures and main events from the report.

The report appears to be an annual report for the fiscal year ended December 31, 2024, filed by a company with the ticker symbol 0001310488. The report includes financial statements, notes, and other information.

Some key financial figures mentioned in the report include:

Total assets: $[amount]
Total liabilities: $[amount]
Total stockholders’ equity: $[amount]
Net income: $[amount]
Earnings per share (EPS): $[amount]

The report also mentions some significant events, such as:

The company’s majority shareholder is [name], who owns [percentage] of the company’s outstanding shares.
The company has [number] series of preferred stock, including Series A preferred stock.
The company’s board of directors is chaired by [name].

Please note that this summary is limited and may not capture all the important information in the report. If you need a more detailed summary or specific information, I recommend reviewing the report in its entirety or seeking assistance from a financial professional.

Summary and Analysis of Key Points

Overview of the Company’s Financial Performance

BioForce, a company focused on developing and selling vitamin supplements, had a challenging financial year in 2024. The company reported no revenue from the sale of its “BioForce Eclipse” supplement product in both 2024 and 2023. This resulted in $0 in gross profit for both years. The company’s net loss increased from $471,953 in 2023 to $490,437 in 2024, primarily due to higher general and administrative expenses.

Revenue and Profit Trends

As mentioned, BioForce generated no revenue from product sales in 2024 or 2023, leading to $0 in gross profit for both years. This lack of revenue and profit is a significant concern for the company’s financial performance and long-term viability.

Strengths and Weaknesses

One of the key strengths of BioForce is the oral commitment from its Chairman, Merle Ferguson, to provide the necessary funds to meet the company’s operating requirements for the next 12 months. This provides a temporary solution to the company’s liquidity issues.

However, the company’s major weakness is its inability to generate any revenue or profit from its core business activities. The company’s accumulated deficit of $161,120,166 and working capital deficit of $2,301,592 as of December 31, 2024 raise substantial doubt about its ability to continue as a going concern. Without significant revenue and profits, the company will be completely dependent on additional debt and equity financing, which may be difficult to obtain.

Outlook for the Future

The outlook for BioForce’s future is uncertain. The company’s management believes that the actions being taken to further implement its business plan and generate revenues provide the opportunity for BioForce to continue as a going concern. However, the company acknowledges that it may not be successful in these efforts.

The company’s ability to continue as a going concern is dependent on its capability to raise additional funds and successfully execute its business plan to generate revenues. If the company is unable to raise the necessary funds or generate sufficient revenue, it may not be able to continue operations.