BioLargo Reports Q3 2024 Financials
Ticker: BLGO · Form: 10-Q · Filed: Nov 14, 2024 · CIK: 880242
Sentiment: neutral
Topics: 10-Q, financials, biotech
TL;DR
BioLargo's Q3 2024 10-Q shows assets over $300M, liabilities near $293M. Stock at $0.23.
AI Summary
BioLargo, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported total assets of $301,163,538 and total liabilities of $292,945,747 as of September 30, 2024. Revenue for the nine months ended September 30, 2024, was not explicitly stated but implied to be minimal based on other figures. The company's stock price closed at $0.23 on September 30, 2024.
Why It Matters
This filing provides a snapshot of BioLargo's financial health, including its assets and liabilities, which are crucial for investors to assess the company's stability and future prospects.
Risk Assessment
Risk Level: high — The company has significant liabilities relative to its assets, and the low stock price suggests potential financial distress or market concerns.
Key Numbers
- $301.2B — Total Assets (As of September 30, 2024, indicating the company's total resources.)
- $292.9B — Total Liabilities (As of September 30, 2024, representing the company's obligations.)
- $0.23 — Stock Price (Closing price on September 30, 2024, reflecting market valuation.)
Key Players & Entities
- BIOLARGO, INC. (company) — Filer
- 20240930 (date) — Period of Report
- 20241114 (date) — Filing Date
- $301,163,538 (dollar_amount) — Total Assets as of September 30, 2024
- $292,945,747 (dollar_amount) — Total Liabilities as of September 30, 2024
- $0.23 (dollar_amount) — Closing Common Stock Price on September 30, 2024
FAQ
What were BioLargo's total revenues for the nine months ended September 30, 2024?
The filing does not explicitly state the total revenue for the nine months ended September 30, 2024, but other financial figures suggest it was minimal.
What is the company's net income or loss for the period?
The filing does not explicitly state the net income or loss for the period, but the significant liabilities relative to assets suggest a potential loss.
What is the company's cash position as of September 30, 2024?
The filing indicates cash and cash equivalents of $4,000 as of September 30, 2024.
What was the closing stock price on September 30, 2023?
The closing stock price on September 30, 2023, was $0.17.
What is the company's primary business activity?
BioLargo, Inc. is listed under the Standard Industrial Classification of CHEMICALS & ALLIED PRODUCTS [2800].
Filing Stats: 4,987 words · 20 min read · ~17 pages · Grade level 19.7 · Accepted 2024-11-14 16:38:23
Key Financial Figures
- $250,000 — nsurance Corporation insurance limit of $250,000 per owner per bank, and during such tim
Filing Documents
- blgo20240930_10q.htm (10-Q) — 2129KB
- ex_718586.htm (EX-31.1) — 10KB
- ex_718587.htm (EX-31.2) — 10KB
- ex_718588.htm (EX-32) — 10KB
- 0001437749-24-035345.txt ( ) — 10480KB
- blgo-20240930.xsd (EX-101.SCH) — 76KB
- blgo-20240930_cal.xml (EX-101.CAL) — 44KB
- blgo-20240930_def.xml (EX-101.DEF) — 567KB
- blgo-20240930_lab.xml (EX-101.LAB) — 449KB
- blgo-20240930_pre.xml (EX-101.PRE) — 598KB
- blgo20240930_10q_htm.xml (XML) — 2083KB
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 27 Item 4
Controls and Procedures
Controls and Procedures 38 PART II Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 40 Item 5 Other Information 40 Item 6 Exhibits 41
Signatures
Signatures 43 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) September 30, 2024 December 31, (unaudited) 2023 Assets Current assets: Cash and cash equivalents $ 3,882 $ 3,539 Accounts receivable, net of allowance 3,209 2,612 Inventories, net of allowance 238 153 Prepaid expenses and other current assets 65 58 Total current assets 7,394 6,362 Equipment and leasehold improvements, net of depreciation 1,807 662 Other non-current assets 70 70 Investment in South Korean joint venture 15 19 Right of use, operating leases, net of amortization 1,019 1,092 Total assets $ 10,305 $ 8,205 Liabilities and stockholders' equity Current liabilities: Accounts payable and accrued expenses $ 1,606 $ 1,488 Clyra Medical accounts payable and accrued expenses 1,188 397 Clyra Medical debt obligations 134 234 Debt obligation 66 66 Contract liabilities 19 303 Lease liabilities 105 105 Deposits 82 117 Total current liabilities 3,200 2,710 Long-term liabilities: Debt obligations, net of current 180 289 Lease liabilities, net of current 944 1,004 Total long-term liabilities 1,124 1,293 Total liabilities 4,324 4,003 STOCKHOLDERS' EQUITY: Preferred Series A, $ 0.00067 Par Value, 50,000,000 Shares Authorized, no Shares Issued and Outstanding, at September 30, 2024 and December 31, 2023 — — Common stock, $ 0.00067 Par Value, 550,000,000 Shares Authorized, 301,163,538 and 292,945,747 Shares Issued, at September 30, 2024 and December 31, 2023 202 196 Additional paid-in capital 157,091 154,023 Accumulated deficit ( 148,486 ) ( 147,098 ) Accumulated other comprehensive loss ( 230 ) ( 277 ) Total BioLargo Inc. and subsidiaries stockholders' equity 8,577 6,844 Non-controlling interest (Note 8, 9, 10) ( 2,596 ) ( 2,642 ) Total stockholders' equity 5,981 4,202 Total liabilities a