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Everything Blockchain Inc (EBZT-16.46%). has submitted its 10-Q filing for the quarterly period ended October 31, 2024.
The filing indicates a strategic transformation for the company, pivoting from database management and cybersecurity solutions to a focus on cryptocurrency and artificial intelligence sectors.
The company reported no revenue for the three and nine months ended October 31, 2024, as all operating expenses were reassigned to discontinued operations.
Net cash used in operating activities for discontinued operations was $0.8 million for the nine months ended October 31, 2024.
The company completed the sale of its assets EB Control and Build DB, reporting all financials for the quarter as discontinued operations.
Net cash provided by financing activities was $0.7 million for the nine months ended October 31, 2024, primarily from the sale of common stock and borrowing.
The company issued 903,387 shares of common stock for $0.5 million to Alamo City Engineering Services, Inc., a former board member's company.
Everything Blockchain Inc. continues to operate as an investment vehicle and technology innovator, focusing on strategic investments and proprietary technology development in AI and blockchain.
The company has 5 employees as of October 31, 2024, and maintains a focus on emerging technologies and high-growth industries.
The filing acknowledges the company's dependence on raising additional funds through debt and equity financing to continue operations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Everything Blockchain Inc quarterly 10-Q report dated January 27, 2025. To report an error, please email earnings@qz.com.