Everything Blockchain, Inc. SEC 10-Q Report

Published: 2025-01-28 01:00:45 pm

Everything Blockchain, Inc., a company previously focused on database management and cybersecurity solutions, has released its Form 10-Q report for the third quarter of 2024. The report highlights the company's strategic shift towards becoming a specialized investment and technology development firm in the cryptocurrency and artificial intelligence sectors. This transformation has significantly impacted both its financial and operational metrics.

Financial Highlights

Revenue: $0.0 million, with all operating expenses reassigned to discontinued operations.

Gross Profit: Not explicitly stated, as all operating expenses were reassigned to discontinued operations.

Operating Income: $0.0 million, with all losses accounted for under discontinued operations.

Net Loss: $(17.416) million for the three months ended October 31, 2024, and $(19.865) million for the nine months ended October 31, 2024, primarily due to losses from discontinued operations.

Basic and Diluted Loss Per Share: $(0.76) for the three months ended October 31, 2024, and $(0.98) for the nine months ended October 31, 2024, reflecting the impact of discontinued operations.

Business Highlights

Strategic Transformation: Everything Blockchain, Inc. has shifted its focus from database management and cybersecurity solutions to becoming a specialized investment and technology development firm in cryptocurrency and artificial intelligence.

Operational Segments: The company now operates in two primary segments: Strategic Investments, which targets early-stage enterprises in AI and blockchain, and Proprietary Technology Development, focusing on developing and acquiring AI and blockchain technologies.

Discontinued Operations: The company has reported all financials for the quarter as discontinued operations following the sale of its assets EB Control and Build DB.
Employee Count: As of October 31, 2024, the company has 5 employees, reflecting its streamlined operations post-transformation.

Future Outlook: The company aims to leverage its expertise in blockchain and AI to shape the future of these industries while delivering sustained value to its shareholders.

Source: tradingview 

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