Eco Science Solutions, Inc.

What they do

Eco Science Solutions develops and commercializes cloud-based enterprise software and financial technology, primarily HERBO (an ERP and accounting platform) and HERBO Pay (a payment and financial services platform). It also holds the eXPO software platform acquired in April 2023. The company targets cannabis, CBD, wellness, specialty retail, manufacturing, professional services, and other regulated industries. It is not involved in growing, manufacturing, or distributing cannabis.

Revenue drivers

• HERBO Pay — Generated net revenue of $253 in the three months ended April 30, 2026, the first reported revenue from the platform.
• HERBO ERP — Cloud-based ERP and accounting platform designed for accounting, inventory, compliance, and reporting; no revenue generated in fiscal years 2025 or 2026.
• eXPO platform — Electronic exchange portal acquired in April 2023; not yet a revenue source as of the latest filings.

Recent performance

For fiscal year ended January 31, 2026, the company reported no revenue and a net income of $9.4 million, driven by $10.18 million in gains on debt settlement and $343,833 in debt forgiveness. Operating expenses were $958,352, down slightly from $1,025,139 in fiscal 2025. For the quarter ended April 30, 2026, revenue was $253 with a net loss of $242,777. As of April 30, 2026, the company held $7,833 in cash, had total assets of $116,027, liabilities of $1.4 million, and negative shareholder equity of $1.3 million. Cash flow from operations remained negative at $367,781 for fiscal 2026.

Strategy

The company is focused on early-stage commercialization of HERBO and HERBO Pay, having begun limited onboarding of paying customers after fiscal 2026. Management plans to expand customer adoption and complete additional onboarding, but notes this requires sufficient working capital. Historically funded by related party advances, convertible notes, loans, and equity issuances, with fiscal 2026 debt settlements reducing liabilities. The company also must allocate at least 15% of revenue or qualifying financing proceeds to governance reforms under the 2020 settlement, though it has determined prior financing proceeds did not qualify. The May 4, 2026 1-for-25 reverse stock split was implemented to regain compliance with listing standards.

Risks

• Liquidity risk — Cash of $7,833 and negative equity of $1.3 million as of April 30, 2026, with ongoing negative operating cash flow, raise substantial doubt about the ability to continue as a going concern.
• No revenue base — The company generated no revenue in fiscal 2025 or 2026, and only $253 in the first quarter of fiscal 2027, making commercialization unproven.
• Dependence on financing — Operations are funded through related party advances, convertible notes, and equity issuances; future financing may be dilutive or unavailable.
• Regulatory and settlement obligations — The 2020 shareholder settlement requires 15% of revenue or qualifying financing proceeds to be allocated to governance reforms, which could divert resources.

Outlook

Management states that commercialization activities remain early-stage and may not result in material revenue unless customer adoption expands and sufficient working capital is obtained. The company continues to evaluate compliance with the settlement's allocation provision. No specific revenue or profitability guidance has been provided.