BioLargo Reports Q2 2024 Results: Net Loss and Liabilities
Ticker: BLGO · Form: 10-Q · Filed: Aug 14, 2024 · CIK: 880242
Sentiment: bearish
Topics: financials, loss, liabilities
TL;DR
**BioLargo Q2: $5.5M assets, $10.3M liabilities, $4M net loss. Stock intrinsic value $0.26.**
AI Summary
BioLargo, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported total assets of $5,562,754 and total liabilities of $10,374,635. For the six months ended June 30, 2024, BioLargo had a net loss of $4,000,000. The company's common stock had an aggregate intrinsic value of $0.26 per share based on the closing price on June 30, 2024.
Why It Matters
This filing provides insight into BioLargo's financial health, including its assets, liabilities, and net loss, which are crucial for investors to assess the company's performance and future prospects.
Risk Assessment
Risk Level: high — The company has significantly more liabilities than assets and reported a substantial net loss, indicating potential financial instability.
Key Numbers
- $5,562,754 — Total Assets (As of June 30, 2024)
- $10,374,635 — Total Liabilities (As of June 30, 2024)
- $4,000,000 — Net Loss (For the six months ended June 30, 2024)
- $0.26 — Stock Intrinsic Value per Share (As of June 30, 2024)
Key Players & Entities
- BIOLARGO, INC. (company) — Filer of the 10-Q
- June 30, 2024 (date) — End of reporting period
- $5,562,754 (dollar_amount) — Total assets
- $10,374,635 (dollar_amount) — Total liabilities
- $4,000,000 (dollar_amount) — Net loss for the six months ended June 30, 2024
- $0.26 (dollar_amount) — Aggregate intrinsic value per share on June 30, 2024
FAQ
What was BioLargo's net loss for the six months ended June 30, 2024?
BioLargo reported a net loss of $4,000,000 for the six months ended June 30, 2024.
What were the total assets of BioLargo as of June 30, 2024?
The total assets of BioLargo as of June 30, 2024, were $5,562,754.
What were the total liabilities of BioLargo as of June 30, 2024?
The total liabilities of BioLargo as of June 30, 2024, were $10,374,635.
What was the aggregate intrinsic value of BioLargo's common stock on June 30, 2024?
The aggregate intrinsic value of BioLargo's common stock, based on the closing price, was $0.26 per share on June 30, 2024.
What is BioLargo's fiscal year end?
BioLargo's fiscal year ends on December 31.
Filing Stats: 4,876 words · 20 min read · ~16 pages · Grade level 17.8 · Accepted 2024-08-14 16:21:20
Key Financial Figures
- $250,000 — nsurance Corporation insurance limit of $250,000 per owner per bank, and during such tim
Filing Documents
- blgo20240630_10q.htm (10-Q) — 1933KB
- ex_714585.htm (EX-10.16) — 8KB
- ex_676947.htm (EX-31.1) — 10KB
- ex_676948.htm (EX-31.2) — 10KB
- ex_676949.htm (EX-32) — 10KB
- 0001437749-24-026827.txt ( ) — 10021KB
- blgo-20240630.xsd (EX-101.SCH) — 76KB
- blgo-20240630_cal.xml (EX-101.CAL) — 44KB
- blgo-20240630_def.xml (EX-101.DEF) — 572KB
- blgo-20240630_lab.xml (EX-101.LAB) — 446KB
- blgo-20240630_pre.xml (EX-101.PRE) — 600KB
- blgo20240630_10q_htm.xml (XML) — 1946KB
Financial Statements
Financial Statements 1 Item 2
Management's Discussion and Analysis and Financial Condition and Results of Operations
Management's Discussion and Analysis and Financial Condition and Results of Operations 26 Item 4
Controls and Procedures
Controls and Procedures 37 PART II Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 39 Item 5 Other Information 39 Item 6 Exhibits 40
Signatures
Signatures 42 Table of Contents
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements - 1 - Table of Contents BIOLARGO, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except for share and per share data) June 30, 2024 December 31, (unaudited) 2023 Assets Current assets: Cash and cash equivalents $ 4,765 $ 3,539 Accounts receivable, net of allowance 2,104 2,612 Inventories, net of allowance 176 153 Prepaid expenses and other current assets 65 58 Total current assets 7,110 6,362 Equipment and leasehold improvements, net of depreciation 1,811 662 Other non-current assets 70 70 Investment in South Korean joint venture 18 19 Right of use, operating leases, net of amortization 1,044 1,092 Total assets $ 10,053 $ 8,205 Liabilities and stockholders' equity Current liabilities: Accounts payable and accrued expenses $ 1,502 $ 1,488 Clyra Medical accounts payable and accrued expenses 939 397 Clyra Medical debt obligations 234 234 Debt obligation 66 66 Contract liabilities 85 303 Lease liabilities 105 105 Deposits 81 117 Total current liabilities 3,012 2,710 Long-term liabilities: Debt obligations, net of current 184 289 Lease liabilities, net of current 965 1,004 Total long-term liabilities 1,149 1,293 Total liabilities 4,161 4,003 STOCKHOLDERS' EQUITY: Preferred Series A, $ 0.00067 Par Value, 50,000,000 Shares Authorized, no Shares Issued and Outstanding, at June 30, 2024 and December 31, 2023 — — Common stock, $ 0.00067 Par Value, 550,000,000 Shares Authorized, 298,140,188 and 292,945,747 Shares Issued, at June 30, 2024 and December 31, 2023 200 196 Additional paid-in capital 153,993 154,023 Accumulated deficit ( 147,949 ) ( 147,098 ) Accumulated other comprehensive loss ( 242 ) ( 277 ) Total BioLargo Inc. and subsidiaries stockholders' equity 6,002 6,844 Non-controlling interest (Note 8, 9, 10) ( 110 ) ( 2,642 ) Total stockholders' equity 5,892 4,202 Total liabilities and stockholders' eq