Bakhu Holdings, Corp.
Bakhu Holdings filed its 10-Q for the quarter ended April 30, 2025, reporting zero revenue for both the three- and nine-month periods. Net loss was $483,981 for the quarter and $1,855,836 for the nine months. Cash dwindled to $2,041 against $11.8 million in total liabilities. The company disclosed a going concern warning, an accumulated deficit of $52.8 million, and that a substantial portion of current liabilities has been past due for over 18 months.
- Zero revenue generated in the three and nine months ended April 30, 2025, and no timeline for commercialization.
- Cash and cash equivalents collapsed to $2,041 as of April 30, 2025, down from $25,461 at July 31, 2024.
- Accumulated deficit reached $52.8 million; stockholders' deficit widened to $11.8 million.
- Auditor's going concern warning cites substantial doubt about the company's ability to continue as a going concern.
- Total liabilities of $11.8 million include $3.46 million in current liabilities, much of which is over 18 months past due.
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A pre-revenue company with $2,041 in cash, $11.8M in debt, and a going concern warning is on the brink of insolvency — creditors hold the power to force it.
Bakhu is a pre-revenue cannabis biotech with a North American patent license for cannabinoid production. It has no active operations, abandoned its lab facility in 2024, and defaulted on its settlement with its landlord/license holder VO Leasing Corp.
Creditors holding past-due obligations may initiate insolvency proceedings; the company acknowledges it may be unable to negotiate extended or discounted payments. Any new financing proceeds must first repay delinquent related-party obligations, further impairing fundraising.
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