I've been eating one meal per day now is it a bad or good thing and if so what could be the possible complications?

Why?: How many calories, what's the diet composition (fiber, fat, protein), are you losing weight or showing signs of other deficiencies? More information would be helpful. At this point, without more input, my off-the-cuff response is to suggest dietary counseling since you may be putting yourself at risk.

Sets up bad pattern: Fat people have the wiring for when to eat permanently messed up. We eat due to everything but internal regulation/hunger. This is establishing a pattern of abnormal eating. Eat regular. count calories. see if eating 3 meals works out. complcations. setting up for being fat. some (minor) weight loss in short term loss of muscle mass (might be major) not getting enough minerals or vitamins