Bioethics, Ltd. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing total assets of $17,153 and total liabilities of $880,086. The company's stockholders' deficit stands at $862,933.
The company reported no revenues for the three and nine months ended September 30, 2024, and 2023. General and administrative expenses increased to $39,284 for the three months ended September 30, 2024, compared to $10,004 for the same period in 2023.
Net loss for the three months ended September 30, 2024, was $53,083, compared to a net loss of $22,300 for the same period in 2023. For the nine months ended September 30, 2024, the net loss was $128,668, compared to $72,746 in 2023.
The company has incurred losses since its inception, with an accumulated deficit of $1,406,547 as of September 30, 2024.
Net cash used by operating activities was $78,190 for the nine months ended September 30, 2024, compared to $16,112 for the same period in 2023. Net cash provided by financing activities was $95,205 for the nine months ended September 30, 2024.
The company is a shell company with no active business operations and is seeking business opportunities for acquisition or participation.
Bioethics, Ltd. entered into an agreement with SILQ Technologies Corporation for a potential merger, as disclosed in the company's Form 8-K filed on September 25, 2024. The merger is not guaranteed and is subject to various conditions.
The company's management has identified material weaknesses in its internal control over financial reporting, primarily due to insufficient resources and inadequate documentation of internal control policies.
Bioethics, Ltd. does not anticipate any off-balance sheet arrangements that could materially affect its financial condition or operations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Bioethics quarterly 10-Q report dated November 19, 2024. To report an error, please email earnings@qz.com.