Cell MedX Corp (CMXC) reported QQ3 2024 results with an unusual top-line presentation. The income statement shows an operating income of $119,971 and net income of $119,971, alongside an EBITDA reading of $(57,775) and a depreciation figure presented as a negative $177,746. Revenue is not disclosed in the provided data, creating a conspicuous gap between topline and reported profitability. On a cash basis, operating cash flow was negative at $(37,945), while financing activities supplied a net $95,000, yielding a net cash increase of $57,054 for the period and ending cash of $79,677. The balance sheet reveals extreme leverage and a severely distressed liquidity position: total current liabilities of $791.9 million versus cash and equivalents of $79.7 thousand, a current ratio of 0.103 and a cash ratio of 0.101, and a stockholders’ deficit of $(709.9) million despite a cash runway supported by financing activity. The company shows negative retained earnings of $(10.17) million and a negative total stockholders’ equity, indicating fragile balance-sheet fortitude and a dependence on external financing to keep operations afloat. YoY and QoQ metric upgrades in operating income and net income (213.36% and 381.87% for operating income; 201.53% and 298.15% for net income) suggest some degree of improved profitability relative to prior periods, but the top-line gap, liquidity stress, and negative equity framework raise material investment risk. Management commentary is not provided in the data set; consequently, the narrative risk remains elevated until the company discloses revenue recognition, accounting treatment of depreciation, and any non-operating income contributing to the reported net income. Investors should monitor liquidity evolution, capital-structure remediation, and any monetization milestones for CMXC’s eBalance ecosystem in the diabetes and neurovascular therapy space.