0000880242 BIOLARGO, INC. false --12-31 Q3 2023 0.00067 0.00067 50,000,000 50,000,000 0 0 0 0 0.00067 0.00067 550,000,000 550,000,000 288,626,570 278,462,706 4 76 44 10 10 10 14 10 10 10 10 11 10 31 10 15 0 0 0 0 0 0 0 0 0 0 0 6 18 0 9 0 6 5 6 5 5 4 246,000 4 1 10 0.28 0.30 0.28 6 5 5 5 161,000 5 5 0 135,000 5 254,000 4 10 Aggregate intrinsic value based on closing common stock price of $0.17 at September 30, 2023. 00008802422023-01-012023-09-30 xbrli:shares 00008802422023-11-10 thunderdome:item iso4217:USD 00008802422023-09-30 00008802422022-12-31 0000880242blgo:EntitiesExcludingPartiallyOwnedSubsidiaryMember2023-09-30 0000880242blgo:EntitiesExcludingPartiallyOwnedSubsidiaryMember2022-12-31 0000880242blgo:PartiallyOwnedSubsidiaryMember2023-09-30 0000880242blgo:PartiallyOwnedSubsidiaryMember2022-12-31 iso4217:USDxbrli:shares 0000880242us-gaap:ProductMember2023-07-012023-09-30 0000880242us-gaap:ProductMember2022-07-012022-09-30 0000880242us-gaap:ProductMember2023-01-012023-09-30 0000880242us-gaap:ProductMember2022-01-012022-09-30 0000880242us-gaap:ServiceMember2023-07-012023-09-30 0000880242us-gaap:ServiceMember2022-07-012022-09-30 0000880242us-gaap:ServiceMember2023-01-012023-09-30 0000880242us-gaap:ServiceMember2022-01-012022-09-30 00008802422023-07-012023-09-30 00008802422022-07-012022-09-30 00008802422022-01-012022-09-30 0000880242us-gaap:CommonStockMember2022-12-31 0000880242us-gaap:AdditionalPaidInCapitalMember2022-12-31 0000880242us-gaap:RetainedEarningsMember2022-12-31 0000880242us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-31 0000880242us-gaap:NoncontrollingInterestMember2022-12-31 0000880242us-gaap:CommonStockMember2023-01-012023-03-31 0000880242us-gaap:AdditionalPaidInCapitalMember2023-01-012023-03-31 0000880242us-gaap:RetainedEarningsMember2023-01-012023-03-31 0000880242us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-03-31 0000880242us-gaap:NoncontrollingInterestMember2023-01-012023-03-31 00008802422023-01-012023-03-31 0000880242blgo:ClyraMedicalTechnologiesMemberus-gaap:CommonStockMember2023-01-012023-03-31 0000880242blgo:ClyraMedicalTechnologiesMemberus-gaap:AdditionalPaidInCapitalMember2023-01-012023-03-31 0000880242blgo:ClyraMedicalTechnologiesMemberus-gaap:RetainedEarningsMember2023-01-012023-03-31 0000880242blgo:ClyraMedicalTechnologiesMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-03-31 0000880242blgo:ClyraMedicalTechnologiesMemberus-gaap:NoncontrollingInterestMember2023-01-012023-03-31 0000880242blgo:ClyraMedicalTechnologiesMember2023-01-012023-03-31 0000880242blgo:BiolargoEnergyTechnologiesIncBETIMemberus-gaap:CommonStockMember2023-01-012023-03-31 0000880242blgo:BiolargoEnergyTechnologiesIncBETIMemberus-gaap:AdditionalPaidInCapitalMember2023-01-012023-03-31 0000880242blgo:BiolargoEnergyTechnologiesIncBETIMemberus-gaap:RetainedEarningsMember2023-01-012023-03-31 0000880242blgo:BiolargoEnergyTechnologiesIncBETIMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-03-31 0000880242blgo:BiolargoEnergyTechnologiesIncBETIMemberus-gaap:NoncontrollingInterestMember2023-01-012023-03-31 0000880242blgo:BiolargoEnergyTechnologiesIncBETIMember2023-01-012023-03-31 0000880242us-gaap:CommonStockMember2023-03-31 0000880242us-gaap:AdditionalPaidInCapitalMember2023-03-31 0000880242us-gaap:RetainedEarningsMember2023-03-31 0000880242us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-03-31 0000880242us-gaap:NoncontrollingInterestMember2023-03-31 00008802422023-03-31 0000880242us-gaap:CommonStockMember2023-04-012023-06-30 0000880242us-gaap:AdditionalPaidInCapitalMember2023-04-012023-06-30 0000880242us-gaap:RetainedEarningsMember2023-04-012023-06-30 0000880242us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-04-012023-06-30 0000880242us-gaap:NoncontrollingInterestMember2023-04-012023-06-30 00008802422023-04-012023-06-30 0000880242blgo:ClyraMedicalTechnologiesMemberus-gaap:CommonStockMember2023-04-012023-06-30 0000880242blgo:ClyraMedicalTechnologiesMemberus-gaap:AdditionalPaidInCapitalMember2023-04-012023-06-30 0000880242blgo:ClyraMedicalTechnologiesMemberus-gaap:RetainedEarningsMember2023-04-012023-06-30 0000880242blgo:ClyraMedicalTechnologiesMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2023-04-012023-06-30 0000880242blgo:ClyraMedicalTechnologiesMemberus-gaap:NoncontrollingInterestMember2023-04-012023-06-30 0000880242blgo:ClyraMedicalTechnologiesMember2023-04-012023-06-30 0000880242blgo:BiolargoEnergyTechnologiesIncBETIMemberus-gaap:CommonStockMember2023-04-012023-06-30 0000880242blgo:BiolargoEnergyTechnologiesIncBETIMemberus-gaap:AdditionalPaidInCapitalMember2023-04-012023-06-30 0000880242blgo:BiolargoEnergyTechnologiesIncBETIMemberus-gaap:RetainedEarningsMember2023-04-012023-06-30 0000880242blgo:BiolargoEnergyTechnologiesIncBETIMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2023-04-012023-06-30 0000880242blgo:BiolargoEnergyTechnologiesIncBETIMemberus-gaap:NoncontrollingInterestMember2023-04-012023-06-30 0000880242blgo:BiolargoEnergyTechnologiesIncBETIMember2023-04-012023-06-30 0000880242us-gaap:CommonStockMember2023-06-30 0000880242us-gaap:AdditionalPaidInCapitalMember2023-06-30 0000880242us-gaap:RetainedEarningsMember2023-06-30 0000880242us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-06-30 0000880242us-gaap:NoncontrollingInterestMember2023-06-30 00008802422023-06-30 0000880242us-gaap:CommonStockMember2023-07-012023-09-30 0000880242us-gaap:AdditionalPaidInCapitalMember2023-07-012023-09-30 0000880242us-gaap:RetainedEarningsMember2023-07-012023-09-30 0000880242us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-07-012023-09-30 0000880242us-gaap:NoncontrollingInterestMember2023-07-012023-09-30 0000880242blgo:ClyraMedicalTechnologiesMemberus-gaap:CommonStockMember2023-07-012023-09-30 0000880242blgo:ClyraMedicalTechnologiesMemberus-gaap:AdditionalPaidInCapitalMember2023-07-012023-09-30 0000880242blgo:ClyraMedicalTechnologiesMemberus-gaap:RetainedEarningsMember2023-07-012023-09-30 0000880242blgo:ClyraMedicalTechnologiesMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2023-07-012023-09-30 0000880242blgo:ClyraMedicalTechnologiesMemberus-gaap:NoncontrollingInterestMember2023-07-012023-09-30 0000880242blgo:ClyraMedicalTechnologiesMember2023-07-012023-09-30 0000880242blgo:BiolargoEnergyTechnologiesIncBETIMemberus-gaap:CommonStockMember2023-07-012023-09-30 0000880242blgo:BiolargoEnergyTechnologiesIncBETIMemberus-gaap:AdditionalPaidInCapitalMember2023-07-012023-09-30 0000880242blgo:BiolargoEnergyTechnologiesIncBETIMemberus-gaap:RetainedEarningsMember2023-07-012023-09-30 0000880242blgo:BiolargoEnergyTechnologiesIncBETIMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2023-07-012023-09-30 0000880242blgo:BiolargoEnergyTechnologiesIncBETIMemberus-gaap:NoncontrollingInterestMember2023-07-012023-09-30 0000880242blgo:BiolargoEnergyTechnologiesIncBETIMember2023-07-012023-09-30 0000880242us-gaap:CommonStockMember2023-09-30 0000880242us-gaap:AdditionalPaidInCapitalMember2023-09-30 0000880242us-gaap:RetainedEarningsMember2023-09-30 0000880242us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-09-30 0000880242us-gaap:NoncontrollingInterestMember2023-09-30 0000880242us-gaap:CommonStockMember2021-12-31 0000880242us-gaap:AdditionalPaidInCapitalMember2021-12-31 0000880242us-gaap:RetainedEarningsMember2021-12-31 0000880242us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-31 0000880242us-gaap:NoncontrollingInterestMember2021-12-31 00008802422021-12-31 0000880242us-gaap:CommonStockMember2022-01-012022-03-31 0000880242us-gaap:AdditionalPaidInCapitalMember2022-01-012022-03-31 0000880242us-gaap:RetainedEarningsMember2022-01-012022-03-31 0000880242us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-03-31 0000880242us-gaap:NoncontrollingInterestMember2022-01-012022-03-31 00008802422022-01-012022-03-31 0000880242blgo:ClyraMedicalTechnologiesMemberus-gaap:CommonStockMember2022-01-012022-03-31 0000880242blgo:ClyraMedicalTechnologiesMemberus-gaap:AdditionalPaidInCapitalMember2022-01-012022-03-31 0000880242blgo:ClyraMedicalTechnologiesMemberus-gaap:RetainedEarningsMember2022-01-012022-03-31 0000880242blgo:ClyraMedicalTechnologiesMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-03-31 0000880242blgo:ClyraMedicalTechnologiesMemberus-gaap:NoncontrollingInterestMember2022-01-012022-03-31 0000880242blgo:ClyraMedicalTechnologiesMember2022-01-012022-03-31 0000880242us-gaap:CommonStockMember2022-03-31 0000880242us-gaap:AdditionalPaidInCapitalMember2022-03-31 0000880242us-gaap:RetainedEarningsMember2022-03-31 0000880242us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-03-31 0000880242us-gaap:NoncontrollingInterestMember2022-03-31 00008802422022-03-31 0000880242us-gaap:CommonStockMember2022-04-012022-06-30 0000880242us-gaap:AdditionalPaidInCapitalMember2022-04-012022-06-30 0000880242us-gaap:RetainedEarningsMember2022-04-012022-06-30 0000880242us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-04-012022-06-30 0000880242us-gaap:NoncontrollingInterestMember2022-04-012022-06-30 00008802422022-04-012022-06-30 0000880242blgo:ClyraMedicalTechnologiesMemberus-gaap:CommonStockMember2022-04-012022-06-30 0000880242blgo:ClyraMedicalTechnologiesMemberus-gaap:AdditionalPaidInCapitalMember2022-04-012022-06-30 0000880242blgo:ClyraMedicalTechnologiesMemberus-gaap:RetainedEarningsMember2022-04-012022-06-30 0000880242blgo:ClyraMedicalTechnologiesMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2022-04-012022-06-30 0000880242blgo:ClyraMedicalTechnologiesMemberus-gaap:NoncontrollingInterestMember2022-04-012022-06-30 0000880242blgo:ClyraMedicalTechnologiesMember2022-04-012022-06-30 0000880242us-gaap:CommonStockMember2022-06-30 0000880242us-gaap:AdditionalPaidInCapitalMember2022-06-30 0000880242us-gaap:RetainedEarningsMember2022-06-30 0000880242us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-06-30 0000880242us-gaap:NoncontrollingInterestMember2022-06-30 00008802422022-06-30 0000880242us-gaap:CommonStockMember2022-07-012022-09-30 0000880242us-gaap:AdditionalPaidInCapitalMember2022-07-012022-09-30 0000880242us-gaap:RetainedEarningsMember2022-07-012022-09-30 0000880242us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-07-012022-09-30 0000880242us-gaap:NoncontrollingInterestMember2022-07-012022-09-30 0000880242blgo:ClyraMedicalTechnologiesMemberus-gaap:CommonStockMember2022-07-012022-09-30 0000880242blgo:ClyraMedicalTechnologiesMemberus-gaap:AdditionalPaidInCapitalMember2022-07-012022-09-30 0000880242blgo:ClyraMedicalTechnologiesMemberus-gaap:RetainedEarningsMember2022-07-012022-09-30 0000880242blgo:ClyraMedicalTechnologiesMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2022-07-012022-09-30 0000880242blgo:ClyraMedicalTechnologiesMemberus-gaap:NoncontrollingInterestMember2022-07-012022-09-30 0000880242blgo:ClyraMedicalTechnologiesMember2022-07-012022-09-30 0000880242us-gaap:CommonStockMember2022-09-30 0000880242us-gaap:AdditionalPaidInCapitalMember2022-09-30 0000880242us-gaap:RetainedEarningsMember2022-09-30 0000880242us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-09-30 0000880242us-gaap:NoncontrollingInterestMember2022-09-30 00008802422022-09-30 0000880242blgo:EntitiesExcludingPartiallyOwnedSubsidiaryMember2023-01-012023-09-30 0000880242blgo:EntitiesExcludingPartiallyOwnedSubsidiaryMember2022-01-012022-09-30 0000880242blgo:PartiallyOwnedSubsidiaryMember2023-01-012023-09-30 0000880242blgo:PartiallyOwnedSubsidiaryMember2022-01-012022-09-30 0000880242blgo:BetiCommonStockMember2023-01-012023-09-30 0000880242blgo:BetiCommonStockMember2022-01-012022-09-30 0000880242blgo:ConversionOfIntercompanyReceivableIntoClyraSharesMember2023-01-012023-09-30 0000880242blgo:ConversionOfIntercompanyReceivableIntoClyraSharesMember2022-01-012022-09-30 0000880242us-gaap:SeriesAPreferredStockMember2023-09-30 0000880242us-gaap:SeriesAPreferredStockMember2022-09-30 xbrli:pure 0000880242blgo:ClyraMedicalTechnologiesMember2023-09-30 0000880242blgo:BiolargoEngineeringScienceTechnologiesLLCMemberblgo:ApproximationMember2023-09-30 0000880242blgo:BiolargoEnergyTechnologiesIncBETIMember2023-09-30 0000880242blgo:LincolnParkCapitalFundLLCMember2023-01-012023-09-30 0000880242blgo:The2020UnitOfferingMember2023-01-012023-09-30 0000880242blgo:ClyraMedicalTechnologiesMember2023-01-012023-09-30 0000880242blgo:BiolargoEnergyTechnologiesIncBETIMember2023-01-012023-09-30 0000880242blgo:VehicleLoanMember2023-09-30 0000880242blgo:SBACARESActPaycheckProtectionProgramMember2023-09-30 0000880242blgo:EconomicInjuryDisasterLoanMember2023-09-30 0000880242blgo:ClyraMedicalTechnologiesMemberblgo:InventoryLineOfCreditMember2023-09-30 0000880242srt:ParentCompanyMember2023-09-30 0000880242srt:ParentCompanyMember2022-12-31 0000880242us-gaap:NoncontrollingInterestMember2023-09-30 0000880242us-gaap:NoncontrollingInterestMember2022-12-31 0000880242us-gaap:RevenueFromContractWithCustomerMemberus-gaap:CustomerConcentrationRiskMemberblgo:CustomerAMember2023-07-012023-09-30 0000880242us-gaap:RevenueFromContractWithCustomerMemberus-gaap:CustomerConcentrationRiskMemberblgo:CustomerAMember2022-07-012022-09-30 0000880242us-gaap:RevenueFromContractWithCustomerMemberus-gaap:CustomerConcentrationRiskMemberblgo:CustomerAMember2023-01-012023-09-30 0000880242us-gaap:RevenueFromContractWithCustomerMemberus-gaap:CustomerConcentrationRiskMemberblgo:CustomerAMember2022-01-012022-09-30 0000880242us-gaap:RevenueFromContractWithCustomerMemberus-gaap:CustomerConcentrationRiskMemberblgo:CustomerBMember2023-07-012023-09-30 0000880242us-gaap:RevenueFromContractWithCustomerMemberus-gaap:CustomerConcentrationRiskMemberblgo:CustomerBMember2022-07-012022-09-30 0000880242us-gaap:RevenueFromContractWithCustomerMemberus-gaap:CustomerConcentrationRiskMemberblgo:CustomerBMember2023-01-012023-09-30 0000880242us-gaap:RevenueFromContractWithCustomerMemberus-gaap:CustomerConcentrationRiskMemberblgo:CustomerBMember2022-01-012022-09-30 0000880242us-gaap:RevenueFromContractWithCustomerMemberus-gaap:CustomerConcentrationRiskMemberblgo:CustomerCMember2023-07-012023-09-30 0000880242us-gaap:RevenueFromContractWithCustomerMemberus-gaap:CustomerConcentrationRiskMemberblgo:CustomerCMember2022-07-012022-09-30 0000880242us-gaap:RevenueFromContractWithCustomerMemberus-gaap:CustomerConcentrationRiskMemberblgo:CustomerCMember2023-01-012023-09-30 0000880242us-gaap:RevenueFromContractWithCustomerMemberus-gaap:CustomerConcentrationRiskMemberblgo:CustomerCMember2022-01-012022-09-30 0000880242us-gaap:AccountsReceivableMemberus-gaap:CustomerConcentrationRiskMember2023-01-012023-09-30 0000880242us-gaap:AccountsReceivableMemberus-gaap:CustomerConcentrationRiskMemberblgo:OneCustomerMember2023-01-012023-09-30 0000880242us-gaap:AccountsReceivableMemberus-gaap:CustomerConcentrationRiskMember2022-01-012022-12-31 0000880242us-gaap:AccountsReceivableMemberus-gaap:CustomerConcentrationRiskMemberblgo:ThreeCustomersMember2022-01-012022-12-31 0000880242us-gaap:AccountsReceivableMemberus-gaap:CustomerConcentrationRiskMemberblgo:CustomerAMember2023-01-012023-09-30 0000880242us-gaap:AccountsReceivableMemberus-gaap:CustomerConcentrationRiskMemberblgo:CustomerAMember2022-01-012022-09-30 0000880242us-gaap:AccountsReceivableMemberus-gaap:CustomerConcentrationRiskMemberblgo:CustomerBMember2023-01-012023-09-30 0000880242us-gaap:AccountsReceivableMemberus-gaap:CustomerConcentrationRiskMemberblgo:CustomerBMember2022-01-012022-09-30 0000880242us-gaap:AccountsReceivableMemberus-gaap:CustomerConcentrationRiskMemberblgo:CustomerDMember2023-01-012023-09-30 0000880242us-gaap:AccountsReceivableMemberus-gaap:CustomerConcentrationRiskMemberblgo:CustomerDMember2022-01-012022-09-30 0000880242us-gaap:PatentsMember2021-10-22 0000880242blgo:OdinCoLtdMember2020-03-202020-03-20 0000880242blgo:TomorrowWaterMemberblgo:OdinCoLtdMember2020-03-202020-03-20 0000880242blgo:BktAndTomorrowWaterMemberblgo:OdinCoLtdMember2020-03-202020-03-20 0000880242blgo:OdinCoLtdMember2023-01-012023-09-30 0000880242blgo:OdinCoLtdMember2023-07-012023-09-30 0000880242blgo:OdinCoLtdMember2022-07-012022-09-30 0000880242blgo:OdinCoLtdMember2022-01-012022-09-30 0000880242blgo:NonPlanMember2023-01-012023-09-30 0000880242blgo:EquityIncentivePlan2018Membersrt:MinimumMember2023-01-012023-09-30 0000880242blgo:EquityIncentivePlan2018Membersrt:MaximumMember2023-01-012023-09-30 0000880242blgo:NonPlanMembersrt:MinimumMember2023-01-012023-09-30 0000880242blgo:NonPlanMembersrt:MaximumMember2022-01-012022-09-30 0000880242blgo:EquityIncentivePlan2018Membersrt:MinimumMember2022-01-012022-09-30 0000880242blgo:EquityIncentivePlan2018Membersrt:MaximumMember2022-01-012022-09-30 0000880242blgo:EquityIncentivePlan2018Member2023-01-012023-09-30 0000880242blgo:EquityIncentivePlan2018Member2022-01-012022-09-30 utr:Y 0000880242country:CA2023-09-30 utr:M 0000880242blgo:CanadianGovernmentGrantsMembersrt:MinimumMember2023-01-012023-09-30 0000880242blgo:CanadianGovernmentGrantsMembersrt:MaximumMember2023-01-012023-09-30 0000880242blgo:ClyraMedicalTechnologiesMember2023-07-012023-09-30 0000880242srt:MinimumMember2023-09-30 0000880242srt:MaximumMember2023-09-30 0000880242blgo:LincolnParkCapitalFundLLCMember2022-12-31 0000880242blgo:LincolnParkCapitalFundLLCMember2023-07-012023-09-30 0000880242blgo:LincolnParkCapitalFundLLCMember2022-07-012022-09-30 0000880242blgo:LincolnParkCapitalFundLLCMember2022-01-012022-09-30 0000880242blgo:The2020UnitOfferingMember2023-07-012023-09-30 0000880242blgo:WarrantsIssuedWith2020UnitOfferingMembersrt:MinimumMember2023-09-30 0000880242blgo:WarrantsIssuedWith2020UnitOfferingMembersrt:MaximumMember2023-09-30 0000880242blgo:The2020UnitOfferingMember2022-07-012022-09-30 0000880242blgo:The2020UnitOfferingMember2022-01-012022-09-30 0000880242blgo:WarrantsIssuedWith2020UnitOfferingMembersrt:MinimumMember2022-09-30 0000880242blgo:WarrantsIssuedWith2020UnitOfferingMembersrt:MaximumMember2022-09-30 0000880242blgo:PaycheckProtectionProgramCaresActMember2023-09-30 0000880242blgo:PaycheckProtectionProgramCaresActMember2022-12-31 0000880242blgo:VehicleLoanMember2023-09-30 0000880242blgo:VehicleLoanMember2022-12-31 0000880242blgo:ConvertibleNoteMaturingOnMarch12023Member2023-09-30 0000880242blgo:ConvertibleNoteMaturingOnMarch12023Member2022-12-31 0000880242blgo:EconomicInjuryDisasterLoanMember2022-12-31 0000880242blgo:VehicleLoanMember2023-02-07 0000880242blgo:VehicleLoanMember2023-02-072023-02-07 0000880242blgo:ConversionOfNoteIntoBetiCommonSharesMember2023-03-062023-03-06 0000880242blgo:WarrantIssuedWithConversionOfNoteMember2023-03-06 0000880242blgo:PaycheckProtectionProgramCaresActMemberblgo:ONMMember2022-02-072022-02-07 0000880242blgo:PaycheckProtectionProgramCaresActMemberblgo:ONMMember2023-09-30 0000880242blgo:PaycheckProtectionProgramCaresActMemberblgo:BELSTMember2022-05-122022-05-12 0000880242blgo:EconomicInjuryDisasterLoanMemberblgo:ONMMember2020-07-31 0000880242blgo:EconomicInjuryDisasterLoanMemberblgo:ONMMember2020-04-012020-07-31 0000880242srt:OfficerMember2023-09-302023-09-30 0000880242srt:OfficerMember2023-09-30 0000880242srt:OfficerMember2023-06-302023-06-30 0000880242srt:OfficerMember2023-06-30 0000880242srt:OfficerMember2023-03-312023-03-31 0000880242srt:OfficerMember2023-03-31 0000880242srt:OfficerMember2022-09-302022-09-30 0000880242srt:OfficerMember2022-09-30 0000880242srt:OfficerMember2023-01-012023-09-30 0000880242blgo:ConsultantsMember2023-09-302023-09-30 0000880242blgo:ConsultantsMember2023-09-30 0000880242blgo:ConsultantsMember2023-06-302023-06-30 0000880242blgo:ConsultantsMember2023-06-30 0000880242blgo:ConsultantsMember2023-03-312023-03-31 0000880242blgo:ConsultantsMember2023-03-31 0000880242blgo:ConsultantsMember2022-09-302022-09-30 0000880242blgo:ConsultantsMember2022-09-30 0000880242blgo:ConsultantsMember2022-06-302022-06-30 0000880242blgo:ConsultantsMember2022-06-30 0000880242blgo:ConsultantsMember2022-03-312022-03-31 0000880242blgo:ConsultantsMember2022-03-31 0000880242us-gaap:SellingGeneralAndAdministrativeExpensesMember2023-07-012023-09-30 0000880242us-gaap:SellingGeneralAndAdministrativeExpensesMember2023-01-012023-09-30 0000880242us-gaap:SellingGeneralAndAdministrativeExpensesMember2022-07-012022-09-30 0000880242us-gaap:SellingGeneralAndAdministrativeExpensesMember2022-01-012022-09-30 0000880242us-gaap:EmployeeStockOptionMemberblgo:ClyraMedicalTechnologiesMember2023-07-012023-09-30 0000880242us-gaap:EmployeeStockOptionMemberblgo:ClyraMedicalTechnologiesMember2023-01-012023-09-30 0000880242us-gaap:EmployeeStockOptionMemberblgo:ClyraMedicalTechnologiesMember2022-07-012022-09-30 0000880242us-gaap:EmployeeStockOptionMemberblgo:ClyraMedicalTechnologiesMember2022-01-012022-09-30 0000880242blgo:EquityIncentivePlan2018Member2018-06-222018-06-22 0000880242blgo:EquityIncentivePlan2018Member2018-06-22 0000880242blgo:EquityIncentivePlan2018Member2023-09-30 0000880242blgo:EquityIncentivePlan2018Member2022-12-31 0000880242blgo:EquityIncentivePlan2018Membersrt:MinimumMember2022-12-31 0000880242blgo:EquityIncentivePlan2018Membersrt:MaximumMember2022-12-31 0000880242blgo:EquityIncentivePlan2018Membersrt:WeightedAverageMember2022-12-31 0000880242blgo:EquityIncentivePlan2018Membersrt:WeightedAverageMember2023-01-012023-09-30 0000880242blgo:EquityIncentivePlan2018Membersrt:MinimumMember2023-09-30 0000880242blgo:EquityIncentivePlan2018Membersrt:MaximumMember2023-09-30 0000880242blgo:EquityIncentivePlan2018Membersrt:WeightedAverageMember2023-09-30 0000880242blgo:EquityIncentivePlan2018Member2021-12-31 0000880242blgo:EquityIncentivePlan2018Membersrt:MinimumMember2021-12-31 0000880242blgo:EquityIncentivePlan2018Membersrt:MaximumMember2021-12-31 0000880242blgo:EquityIncentivePlan2018Membersrt:WeightedAverageMember2021-12-31 0000880242blgo:EquityIncentivePlan2018Membersrt:WeightedAverageMember2022-01-012022-09-30 0000880242blgo:EquityIncentivePlan2018Member2022-09-30 0000880242blgo:EquityIncentivePlan2018Membersrt:MinimumMember2022-09-30 0000880242blgo:EquityIncentivePlan2018Membersrt:MaximumMember2022-09-30 0000880242blgo:EquityIncentivePlan2018Membersrt:WeightedAverageMember2022-09-30 0000880242blgo:OfficerBoardOfDirectorsEmployeesAndAConsultantMember2023-01-012023-09-30 0000880242blgo:OfficerBoardOfDirectorsEmployeesAndAConsultantMember2023-03-312023-03-31 0000880242blgo:OfficerBoardOfDirectorsEmployeesAndAConsultantMember2023-06-302023-06-30 0000880242blgo:OfficerBoardOfDirectorsEmployeesAndAConsultantMember2023-09-302023-09-30 0000880242blgo:BoardOfDirectorsMember2023-01-012023-09-30 0000880242blgo:EmployeeRetentionProgramMemberblgo:EmployeesMember2023-01-012023-09-30 0000880242blgo:EquityIncentivePlan2018Memberblgo:ConsultantsMember2023-01-012023-09-30 0000880242blgo:EquityIncentivePlan2018Membersrt:ChiefFinancialOfficerMember2023-01-012023-09-30 0000880242blgo:OfficerBoardOfDirectorsEmployeesAndAConsultantMember2022-01-012022-09-30 0000880242blgo:CFOAndPresidentMember2022-01-012022-09-30 0000880242srt:ChiefFinancialOfficerMember2022-01-012022-09-30 0000880242srt:PresidentMember2022-01-012022-09-30 0000880242blgo:BoardOfDirectorsMember2022-01-012022-09-30 0000880242srt:MinimumMemberblgo:BoardOfDirectorsMember2022-01-012022-09-30 0000880242srt:MaximumMemberblgo:BoardOfDirectorsMember2022-01-012022-09-30 0000880242blgo:EmployeeRetentionProgramMemberblgo:EmployeesMember2022-01-012022-09-30 0000880242blgo:EmployeeRetentionProgramMembersrt:MinimumMemberblgo:EmployeesMember2022-01-012022-09-30 0000880242blgo:EmployeeRetentionProgramMembersrt:MaximumMemberblgo:EmployeesMember2022-01-012022-09-30 0000880242blgo:EquityIncentivePlan2018Memberblgo:ConsultantsMember2022-01-012022-09-30 0000880242blgo:EquityIncentivePlan2018Membersrt:ChiefFinancialOfficerMember2022-03-222022-03-22 0000880242blgo:The2007EquityIncentivePlanMember2017-09-072017-09-07 0000880242blgo:The2007EquityIncentivePlanMember2022-12-31 0000880242blgo:The2007EquityIncentivePlanMembersrt:MinimumMember2022-12-31 0000880242blgo:The2007EquityIncentivePlanMembersrt:MaximumMember2022-12-31 0000880242blgo:The2007EquityIncentivePlanMembersrt:WeightedAverageMember2022-12-31 0000880242blgo:The2007EquityIncentivePlanMember2023-01-012023-09-30 0000880242blgo:The2007EquityIncentivePlanMembersrt:MinimumMember2023-01-012023-09-30 0000880242blgo:The2007EquityIncentivePlanMembersrt:MaximumMember2023-01-012023-09-30 0000880242blgo:The2007EquityIncentivePlanMembersrt:WeightedAverageMember2023-01-012023-09-30 0000880242blgo:The2007EquityIncentivePlanMember2023-09-30 0000880242blgo:The2007EquityIncentivePlanMembersrt:MinimumMember2023-09-30 0000880242blgo:The2007EquityIncentivePlanMembersrt:MaximumMember2023-09-30 0000880242blgo:The2007EquityIncentivePlanMembersrt:WeightedAverageMember2023-09-30 0000880242blgo:The2007EquityIncentivePlanMember2021-12-31 0000880242blgo:The2007EquityIncentivePlanMembersrt:MinimumMember2021-12-31 0000880242blgo:The2007EquityIncentivePlanMembersrt:MaximumMember2021-12-31 0000880242blgo:The2007EquityIncentivePlanMembersrt:WeightedAverageMember2021-12-31 0000880242blgo:The2007EquityIncentivePlanMember2022-01-012022-09-30 0000880242blgo:The2007EquityIncentivePlanMembersrt:MinimumMember2022-01-012022-09-30 0000880242blgo:The2007EquityIncentivePlanMembersrt:MaximumMember2022-01-012022-09-30 0000880242blgo:The2007EquityIncentivePlanMembersrt:WeightedAverageMember2022-01-012022-09-30 0000880242blgo:The2007EquityIncentivePlanMember2022-09-30 0000880242blgo:The2007EquityIncentivePlanMembersrt:MinimumMember2022-09-30 0000880242blgo:The2007EquityIncentivePlanMembersrt:MaximumMember2022-09-30 0000880242blgo:The2007EquityIncentivePlanMembersrt:WeightedAverageMember2022-09-30 0000880242blgo:NonPlanMember2022-12-31 0000880242blgo:NonPlanMembersrt:MinimumMember2022-12-31 0000880242blgo:NonPlanMembersrt:MaximumMember2022-12-31 0000880242blgo:NonPlanMembersrt:MaximumMember2023-01-012023-09-30 0000880242blgo:NonPlanMember2023-09-30 0000880242blgo:NonPlanMembersrt:MinimumMember2023-09-30 0000880242blgo:NonPlanMembersrt:MaximumMember2023-09-30 0000880242blgo:NonPlanMember2021-12-31 0000880242blgo:NonPlanMembersrt:MinimumMember2021-12-31 0000880242blgo:NonPlanMembersrt:MaximumMember2021-12-31 0000880242blgo:NonPlanMember2022-01-012022-09-30 0000880242blgo:NonPlanMembersrt:MinimumMember2022-01-012022-09-30 0000880242blgo:NonPlanMember2022-09-30 0000880242blgo:NonPlanMembersrt:MinimumMember2022-09-30 0000880242blgo:NonPlanMembersrt:MaximumMember2022-09-30 0000880242blgo:NonPlanMemberblgo:VendorsMember2023-01-012023-09-30 0000880242blgo:NonPlanMembersrt:MinimumMemberblgo:VendorsMember2023-01-012023-09-30 0000880242blgo:NonPlanMembersrt:MaximumMemberblgo:VendorsMember2023-01-012023-09-30 0000880242blgo:NonPlanMemberblgo:VendorsMember2022-01-012022-09-30 0000880242blgo:NonPlanMembersrt:MinimumMemberblgo:VendorsMember2022-01-012022-09-30 0000880242blgo:NonPlanMembersrt:MaximumMemberblgo:VendorsMember2022-01-012022-09-30 0000880242srt:MinimumMember2022-12-31 0000880242srt:MaximumMember2022-12-31 0000880242srt:WeightedAverageMember2022-12-31 0000880242srt:MinimumMember2023-01-012023-09-30 0000880242srt:MaximumMember2023-01-012023-09-30 0000880242srt:WeightedAverageMember2023-01-012023-09-30 0000880242srt:WeightedAverageMember2023-09-30 0000880242srt:MinimumMember2021-12-31 0000880242srt:MaximumMember2021-12-31 0000880242srt:WeightedAverageMember2021-12-31 0000880242srt:MinimumMember2022-01-012022-09-30 0000880242srt:MaximumMember2022-01-012022-09-30 0000880242srt:WeightedAverageMember2022-01-012022-09-30 0000880242srt:MinimumMember2022-09-30 0000880242srt:MaximumMember2022-09-30 0000880242srt:WeightedAverageMember2022-09-30 0000880242blgo:SixMonthWarrantsInConnectionWithThe2020UnitOfferingMember2023-09-30 0000880242blgo:FiveyearWarrantsInConnectionWithThe2020UnitOfferingMember2023-09-30 0000880242blgo:SixMonthWarrantsInConnectionWithThe2020UnitOfferingMember2022-09-30 0000880242blgo:SixMonthWarrantsInConnectionWithThe2020UnitOfferingMembersrt:MinimumMember2022-09-30 0000880242blgo:SixMonthWarrantsInConnectionWithThe2020UnitOfferingMembersrt:MaximumMember2022-09-30 0000880242blgo:FiveyearWarrantsInConnectionWithThe2020UnitOfferingMember2022-09-30 0000880242blgo:FiveyearWarrantsInConnectionWithThe2020UnitOfferingMembersrt:MinimumMember2022-09-30 0000880242blgo:FiveyearWarrantsInConnectionWithThe2020UnitOfferingMembersrt:MaximumMember2022-09-30 0000880242blgo:NotePayableMaturingMarch82023Member2023-03-06 0000880242blgo:WarrantsIssuedInConnectionWithConversionOfInterestOnNotePayableMaturingMarch82023Member2023-03-06 0000880242us-gaap:MeasurementInputRiskFreeInterestRateMembersrt:MinimumMember2023-09-30 0000880242us-gaap:MeasurementInputRiskFreeInterestRateMembersrt:MaximumMember2023-09-30 0000880242us-gaap:MeasurementInputRiskFreeInterestRateMembersrt:MinimumMember2022-09-30 0000880242us-gaap:MeasurementInputRiskFreeInterestRateMembersrt:MaximumMember2022-09-30 0000880242us-gaap:MeasurementInputPriceVolatilityMembersrt:MinimumMember2023-09-30 0000880242us-gaap:MeasurementInputPriceVolatilityMembersrt:MaximumMember2023-09-30 0000880242us-gaap:MeasurementInputPriceVolatilityMember2022-09-30 0000880242us-gaap:MeasurementInputExpectedTermMember2022-09-30 0000880242us-gaap:CorporateNonSegmentMember2023-09-30 0000880242us-gaap:OperatingSegmentsMemberblgo:OdorNoMoreMember2023-09-30 0000880242us-gaap:OperatingSegmentsMemberblgo:BLESTMember2023-09-30 0000880242us-gaap:OperatingSegmentsMemberblgo:BiolargoWaterMember2023-09-30 0000880242us-gaap:OperatingSegmentsMemberblgo:BiolargoEnergyTechnologiesIncBETIMember2023-09-30 0000880242srt:ConsolidationEliminationsMember2023-09-30 0000880242us-gaap:CorporateNonSegmentMember2022-12-31 0000880242us-gaap:OperatingSegmentsMemberblgo:OdorNoMoreMember2022-12-31 0000880242us-gaap:OperatingSegmentsMemberblgo:BLESTMember2022-12-31 0000880242us-gaap:OperatingSegmentsMemberblgo:BiolargoWaterMember2022-12-31 0000880242srt:ConsolidationEliminationsMember2022-12-31 0000880242blgo:ClyraMedicalMemberus-gaap:NotesPayableOtherPayablesMember2022-04-08 0000880242us-gaap:RevolvingCreditFacilityMemberblgo:InventoryLineOfCreditMemberblgo:ClyraMedicalMemberblgo:VernalBayCapitalGroupLLCMember2020-06-30 0000880242us-gaap:RevolvingCreditFacilityMemberblgo:InventoryLineOfCreditMemberblgo:ClyraMedicalMemberblgo:VernalBayCapitalGroupLLCMember2020-06-302020-06-30 0000880242us-gaap:RevolvingCreditFacilityMemberblgo:InventoryLineOfCreditMemberblgo:ClyraMedicalMemberblgo:VernalBayCapitalGroupLLCMember2023-06-302023-06-30 0000880242us-gaap:RevolvingCreditFacilityMemberblgo:InventoryLineOfCreditMemberblgo:ClyraMedicalMemberblgo:VernalBayCapitalGroupLLCMember2022-12-31 0000880242us-gaap:RevolvingCreditFacilityMemberblgo:InventoryLineOfCreditMemberblgo:ClyraMedicalMemberblgo:VernalBayCapitalGroupLLCMember2022-01-012022-12-31 0000880242blgo:ConversionOfClyraMedicalStockIntoBiolargoCommonStockMemberblgo:VernalBayCapitalGroupLLCMember2023-01-092023-01-09 0000880242us-gaap:RevolvingCreditFacilityMemberblgo:InventoryLineOfCreditMemberblgo:ClyraMedicalMemberblgo:VernalBayCapitalGroupLLCMember2023-09-30 0000880242blgo:ClyraMedicalMember2023-09-30 0000880242blgo:ClyraMedicalMemberus-gaap:SeriesAPreferredStockMember2023-09-30 0000880242blgo:ClyraMedicalMember2022-12-31 0000880242blgo:ClyraMedicalMemberus-gaap:SeriesAPreferredStockMember2022-12-31 0000880242us-gaap:CommonStockMemberblgo:ClyraMedicalMember2023-09-30 0000880242blgo:PreferredStockSeriesAMemberblgo:ClyraMedicalMember2023-09-30 0000880242us-gaap:CommonStockMemberblgo:ClyraMedicalMember2022-12-31 0000880242blgo:PreferredStockSeriesAMemberblgo:ClyraMedicalMember2022-12-31 0000880242blgo:SharesIssuedForDebtOwedToBiolargoMemberblgo:ClyraMedicalMember2023-07-012023-07-31 0000880242blgo:SharesIssuedForDebtOwedToBiolargoMemberblgo:ClyraMedicalMember2022-03-022022-03-02 0000880242blgo:ClyraMedicalMemberus-gaap:SeriesAPreferredStockMember2023-07-012023-09-30 0000880242blgo:ClyraMedicalMemberus-gaap:SeriesAPreferredStockMember2023-01-012023-09-30 0000880242blgo:WarrantsIssuedInConjunctionWithTheSaleOfSeriesAPreferredStockMemberblgo:ClyraMedicalMember2022-12-20 0000880242blgo:ClyraMedicalMemberus-gaap:SeriesAPreferredStockMember2022-12-20 0000880242blgo:ClyraMedicalMemberus-gaap:SeriesAPreferredStockMember2022-12-202022-12-20 0000880242blgo:ClyraMedicalMember2022-12-20 0000880242blgo:ClyraMedicalMembersrt:MinimumMember2022-12-31 0000880242blgo:ClyraMedicalMembersrt:MaximumMember2022-12-31 0000880242blgo:ClyraMedicalMember2023-01-012023-09-30 0000880242blgo:ClyraMedicalMembersrt:MinimumMember2023-01-012023-09-30 0000880242blgo:ClyraMedicalMembersrt:MaximumMember2023-01-012023-09-30 0000880242blgo:ClyraMedicalMembersrt:MinimumMember2023-09-30 0000880242blgo:ClyraMedicalMembersrt:MaximumMember2023-09-30 0000880242blgo:ClyraMedicalMember2021-12-31 0000880242blgo:ClyraMedicalMember2022-01-012022-09-30 0000880242blgo:ClyraMedicalMember2022-09-30 0000880242us-gaap:EmployeeStockOptionMemberblgo:ClyraMedicalMemberblgo:VendorsAndEmployeesMember2023-07-012023-09-30 0000880242us-gaap:EmployeeStockOptionMemberblgo:ClyraMedicalMemberblgo:VendorsAndEmployeesMember2023-01-012023-09-30 0000880242us-gaap:EmployeeStockOptionMemberblgo:ClyraMedicalMemberblgo:VendorsAndEmployeesMember2022-07-012022-09-30 0000880242us-gaap:EmployeeStockOptionMemberblgo:ClyraMedicalMemberblgo:VendorsAndEmployeesMember2022-01-012022-09-30 0000880242us-gaap:EmployeeStockOptionMemberblgo:ClyraMedicalMemberblgo:EmployeesAndConsultantsMember2023-01-012023-09-30 0000880242blgo:ClyraMedicalMember2023-07-012023-09-30 0000880242blgo:ClyraMedicalMemberblgo:NonPlanMembersrt:MinimumMemberblgo:VendorsAndEmployeesMember2023-01-012023-09-30 0000880242blgo:ClyraMedicalMembersrt:MaximumMemberblgo:VendorsAndEmployeesMember2023-01-012023-09-30 0000880242blgo:ClyraMedicalMemberblgo:VendorsAndEmployeesMember2022-01-012022-12-31 0000880242blgo:ClyraMedicalMemberblgo:VendorsAndEmployeesMember2023-01-012023-09-30 0000880242blgo:BiolargoEngineeringScienceTechnologiesLLCMember2017-09-30 0000880242blgo:SevenEmployeesWorkingAtBiolargoEngineeringScienceTechnologiesLLCMember2017-09-012017-09-30 0000880242blgo:SevenEmployeesWorkingAtBiolargoEngineeringScienceTechnologiesLLCMember2017-09-30 0000880242blgo:NonqualifiedStockOptionMemberblgo:SevenEmployeesWorkingAtBiolargoEngineeringScienceTechnologiesLLCMember2017-09-012017-09-30 0000880242blgo:NonqualifiedStockOptionMemberblgo:SevenEmployeesWorkingAtBiolargoEngineeringScienceTechnologiesLLCMember2017-09-012019-09-30 0000880242blgo:SevenEmployeesWorkingAtBiolargoEngineeringScienceTechnologiesLLCMember2021-12-31 0000880242blgo:SevenEmployeesWorkingAtBiolargoEngineeringScienceTechnologiesLLCMemberus-gaap:ShareBasedCompensationAwardTrancheOneMember2021-01-012021-12-31 0000880242blgo:SevenEmployeesWorkingAtBiolargoEngineeringScienceTechnologiesLLCMemberus-gaap:ShareBasedCompensationAwardTrancheTwoMember2021-01-012021-12-31 0000880242blgo:SevenEmployeesWorkingAtBiolargoEngineeringScienceTechnologiesLLCMember2021-01-012021-12-31 0000880242blgo:SevenEmployeesWorkingAtBiolargoEngineeringScienceTechnologiesLLCMember2022-12-31 0000880242blgo:SevenEmployeesWorkingAtBiolargoEngineeringScienceTechnologiesLLCMember2022-01-012022-12-31 0000880242blgo:BiolargoEnergyTechnologiesIncBETIMember2017-09-30 0000880242blgo:BiolargoEnergyTechnologiesIncBETIMember2023-07-012023-09-30 0000880242blgo:BiolargoEnergyTechnologiesIncBETIMember2023-01-012023-09-30 0000880242blgo:BiolargoEnergyTechnologiesIncBETIMemberblgo:BiolargoMember2023-01-012023-09-30 0000880242blgo:BiolargoEnergyTechnologiesIncBETIMember2023-09-30 0000880242us-gaap:CorporateNonSegmentMember2023-07-012023-09-30 0000880242us-gaap:CorporateNonSegmentMember2022-07-012022-09-30 0000880242us-gaap:CorporateNonSegmentMember2023-01-012023-09-30 0000880242us-gaap:CorporateNonSegmentMember2022-01-012022-09-30 0000880242us-gaap:OperatingSegmentsMemberblgo:OdorNoMoreMember2023-07-012023-09-30 0000880242us-gaap:OperatingSegmentsMemberblgo:OdorNoMoreMember2022-07-012022-09-30 0000880242us-gaap:OperatingSegmentsMemberblgo:OdorNoMoreMember2023-01-012023-09-30 0000880242us-gaap:OperatingSegmentsMemberblgo:OdorNoMoreMember2022-01-012022-09-30 0000880242us-gaap:OperatingSegmentsMemberblgo:BiolargoEngineeringScienceTechnologiesLLCMember2023-07-012023-09-30 0000880242us-gaap:OperatingSegmentsMemberblgo:BiolargoEngineeringScienceTechnologiesLLCMember2022-07-012022-09-30 0000880242us-gaap:OperatingSegmentsMemberblgo:BiolargoEngineeringScienceTechnologiesLLCMember2023-01-012023-09-30 0000880242us-gaap:OperatingSegmentsMemberblgo:BiolargoEngineeringScienceTechnologiesLLCMember2022-01-012022-09-30 0000880242us-gaap:OperatingSegmentsMemberblgo:BiolargoEnergyTechnologiesIncBETIMember2023-07-012023-09-30 0000880242us-gaap:OperatingSegmentsMemberblgo:BiolargoEnergyTechnologiesIncBETIMember2022-07-012022-09-30 0000880242us-gaap:OperatingSegmentsMemberblgo:BiolargoEnergyTechnologiesIncBETIMember2023-01-012023-09-30 0000880242us-gaap:OperatingSegmentsMemberblgo:BiolargoEnergyTechnologiesIncBETIMember2022-01-012022-09-30 0000880242us-gaap:OperatingSegmentsMemberblgo:BiolargoWaterMember2023-07-012023-09-30 0000880242us-gaap:OperatingSegmentsMemberblgo:BiolargoWaterMember2022-07-012022-09-30 0000880242us-gaap:OperatingSegmentsMemberblgo:BiolargoWaterMember2023-01-012023-09-30 0000880242us-gaap:OperatingSegmentsMemberblgo:BiolargoWaterMember2022-01-012022-09-30 0000880242us-gaap:OperatingSegmentsMemberblgo:ClyraSegmentMember2023-07-012023-09-30 0000880242us-gaap:OperatingSegmentsMemberblgo:ClyraSegmentMember2022-07-012022-09-30 0000880242us-gaap:OperatingSegmentsMemberblgo:ClyraSegmentMember2023-01-012023-09-30 0000880242us-gaap:OperatingSegmentsMemberblgo:ClyraSegmentMember2022-01-012022-09-30 0000880242srt:ConsolidationEliminationsMember2023-07-012023-09-30 0000880242srt:ConsolidationEliminationsMember2022-07-012022-09-30 0000880242srt:ConsolidationEliminationsMember2023-01-012023-09-30 0000880242srt:ConsolidationEliminationsMember2022-01-012022-09-30 0000880242us-gaap:IntersegmentEliminationMember2023-07-012023-09-30 0000880242us-gaap:IntersegmentEliminationMember2022-07-012022-09-30 0000880242us-gaap:IntersegmentEliminationMember2023-01-012023-09-30 0000880242us-gaap:IntersegmentEliminationMember2022-01-012022-09-30 0000880242us-gaap:OperatingSegmentsMemberblgo:ClyraMedicalMember2023-09-30 0000880242us-gaap:CorporateNonSegmentMemberblgo:InvestmentInSouthKoreanJointVentureMember2023-09-30 0000880242us-gaap:OperatingSegmentsMemberblgo:InvestmentInSouthKoreanJointVentureMemberblgo:OdorNoMoreMember2023-09-30 0000880242us-gaap:OperatingSegmentsMemberblgo:InvestmentInSouthKoreanJointVentureMemberblgo:ClyraMedicalMember2023-09-30 0000880242us-gaap:OperatingSegmentsMemberblgo:InvestmentInSouthKoreanJointVentureMemberblgo:BLESTMember2023-09-30 0000880242us-gaap:OperatingSegmentsMemberblgo:InvestmentInSouthKoreanJointVentureMemberblgo:BiolargoWaterMember2023-09-30 0000880242us-gaap:OperatingSegmentsMemberblgo:InvestmentInSouthKoreanJointVentureMemberblgo:BiolargoEnergyTechnologiesIncBETIMember2023-09-30 0000880242srt:ConsolidationEliminationsMemberblgo:InvestmentInSouthKoreanJointVentureMember2023-09-30 0000880242blgo:InvestmentInSouthKoreanJointVentureMember2023-09-30 0000880242us-gaap:OperatingSegmentsMemberblgo:ClyraMedicalMember2022-12-31 0000880242us-gaap:CorporateNonSegmentMemberblgo:InvestmentInSouthKoreanJointVentureMember2022-12-31 0000880242us-gaap:OperatingSegmentsMemberblgo:InvestmentInSouthKoreanJointVentureMemberblgo:OdorNoMoreMember2022-12-31 0000880242us-gaap:OperatingSegmentsMemberblgo:InvestmentInSouthKoreanJointVentureMemberblgo:ClyraMedicalMember2022-12-31 0000880242us-gaap:OperatingSegmentsMemberblgo:InvestmentInSouthKoreanJointVentureMemberblgo:BLESTMember2022-12-31 0000880242us-gaap:OperatingSegmentsMemberblgo:InvestmentInSouthKoreanJointVentureMemberblgo:BiolargoWaterMember2022-12-31 0000880242srt:ConsolidationEliminationsMemberblgo:InvestmentInSouthKoreanJointVentureMember2022-12-31 0000880242blgo:InvestmentInSouthKoreanJointVentureMember2022-12-31 0000880242blgo:WestminsterCaliforniaFacilityLeaseMember2023-09-30 0000880242blgo:OakRidgeTennesseeFacilityLeaseMember2022-09-30 0000880242blgo:LincolnParkCapitalFundLLCMemberus-gaap:SubsequentEventMember2023-10-012023-11-13
 

 

Table of Contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 


 

FORM 10-Q

 


 

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the quarterly period ended September 30, 2023.

 

or

 

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from              to             

Commission File Number 000-19709

 


 

BIOLARGO, INC.

(Exact name of registrant as specified in its charter)

 


 

Delaware

 

65-0159115

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. Employer

Identification No.)

 

14921 Chestnut St.

Westminster, CA 92683

(Address of principal executive offices)

 

(888) 400-2863

(Registrants telephone number, including area code)

 


 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

Trading symbol(s)

Name of each exchange on which registered

Common stock

BLGO

OTC Markets (OTCQB)

 


 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  ☒    No  ☐

 

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes  ☒         No      ☐

 

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or emerging growth company. See definition of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer   ☐Accelerated filer ☐
  
Non-accelerated filer   ☒Smaller reporting company
  
 Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.         ☐

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes      No  ☒

 

The number of shares of the Registrant’s Common Stock outstanding as of November 10, 2023 was 289,500,358 shares.  

 

 

 
 

PART I FINANCIAL INFORMATION

 

Item 1. Financial Statements

 

 

 

BIOLARGO, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

AS OF September 30, 2023 AND December 31, 2022

(in thousands, except for share and per share data)

 

  

September 30, 2023

  

December 31,

 
  

(unaudited)

  

2022

 

Assets

 

Current assets:

        

Cash and cash equivalents

 $3,042  $1,851 

Accounts receivable, net of allowance

  1,453   1,064 

Prepaid expenses and other current assets

  74   120 

Inventories, net of allowance

  122   118 

Total current assets

  4,691   3,153 
         

Property and equipment, net of depreciation

  599   287 

Other non-current assets

  69   124 

Investment in South Korean joint venture

  15   33 

Right of use, operating lease, net of amortization

  777   867 

Clyra Medical prepaid marketing

  394   394 

Total assets

 $6,545  $4,858 
         

Liabilities and stockholders’ equity

 

Current liabilities:

        

Accounts payable and accrued expenses

 $889  $940 

Clyra Medical accounts payable and accrued expenses

  330   238 

Debt obligations

  66   100 

Clyra Medical debt obligations

  234    

Deferred revenue

  2   17 

Lease liability

  97   97 

Customer deposits

  122   184 

Total current liabilities

  1,740   1,576 
         

Long-term liabilities:

        

Debt obligations, net of current

  293   237 

Lease liability, net of current

  695   773 

Clyra Medical debt obligations

     261 

Total long-term liabilities

  988   1,271 

Total liabilities

  2,728   2,847 
         

COMMITMENTS AND CONTINGENCIES (Note 12)

          
         

STOCKHOLDERS’ EQUITY:

        

Preferred Series A, $0.00067 par value, 50,000,000 shares authorized, -0- shares issued and outstanding, at September 30, 2023 and December 31, 2022

      

Common stock, $0.00067 par value, 550,000,000 shares authorized, 288,626,570 and 278,462,706 shares issued at September 30, 2023 and December 31, 2022, respectively

  193   186 

Additional paid-in capital

  153,406   148,435 

Accumulated deficit

  (146,369)  (143,594)

Accumulated other comprehensive loss

  (161)  (149)

Total BioLargo Inc. and subsidiaries stockholders’ equity

  7,069   4,878 

Non-controlling interest

  (3,252)  (2,867)

Total stockholders’ equity

  3,817   2,011 

Total liabilities and stockholders’ equity

 $6,545  $4,858 

 

The accompanying notes are an integral part of these unaudited consolidated financial statements.

 

 

 

BIOLARGO, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

FOR THE Three and Nine Months Ended September 30, 2023 AND 2022

(in thousands, except for share and per share data)

(unaudited)

 

   

Three Months

   

Nine Months

 
   

September 30, 2023

   

September 30, 2022

   

September 30, 2023

   

September 30, 2022

 
                                 

Revenues

                               

Product revenue

  $ 2,529     $ 1,216     $ 7,392     $ 2,532  

Service revenue

    143       284       468       1,254  

Total revenue

    2,672       1,500       7,860       3,786  
                                 

Cost of revenue

                               

Cost of goods sold

    (1,170 )     (515 )     (3,533 )     (1,174 )

Cost of service

    (67 )     (233 )     (261 )     (720 )

Gross profit

    1,435       752       4,066       1,892  
                                 

Selling, general and administrative expenses

    2,278       1,424       5,794       4,847  

Research and development

    694       271       1,846       1,018  

Operating loss:

    (1,537 )     (943 )     (3,574 )     (3,973 )

Other (expense) income:

                               

Interest expense

    (12 )     (14 )     (72 )     (42 )

PPP loan forgiveness

                      174  

Tax credit (reversal)

    41       66       (14 )     66  

Grant income

          44       32       51  

Total other expense:

    29       96       (54 )     249  

Net loss

    (1,508 )     (847 )     (3,628 )     (3,724 )
                                 

Net loss attributable to noncontrolling interest

    (308 )     (343 )     (853 )     (340 )

Net loss attributable to common shareholders

  $ (1,200 )   $ (504 )   $ (2,775 )   $ (3,384 )
                                 

Net loss per share attributable to common shareholders:

                               

Loss per share attributable to shareholders – basic and diluted

  $ (0.01 )   $ (0.00 )   $ (0.01 )   $ (0.01 )

Weighted average number of common shares outstanding:

    287,943,346       270,665,820       284,559,487       265,812,188  
                                 

Comprehensive loss:

                               

Net loss

  $ (1,508 )   $ (847 )   $ (3,628 )   $ (3,724 )

Foreign currency translation

    1       (59 )     (12 )     (70 )

Comprehensive loss

    (1,507 )     (906 )     (3,640 )     (3,794 )

Comprehensive loss attributable to noncontrolling interest

    (308 )     (343 )     (853 )     (340 )

Comprehensive loss attributable to common stockholders

  $ (1,199 )   $ (563 )   $ (2,787 )   $ (3,454 )

 

The accompanying notes are an integral part of these unaudited consolidated financial statements.

 

 

 

BIOLARGO, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY (DEFICIT)

FOR THE Three and Nine Months Ended September 30, 2023 AND 2022

(in thousands, except for share and per share data)

(unaudited)

 

   

Common stock

   

Additional paid-in

   

Accumulated

   

Accumulated other comprehensive

   

Non-controlling

   

Total stockholders’ equity

 
   

Shares

   

Amount

   

capital

   

deficit

   

Loss

   

interest

   

(deficit)

 
                                                         

Balance, December 31, 2022

    278,462,706     $ 186     $ 148,435     $ (143,594 )   $ (149 )   $ (2,867 )   $ 2,011  

Sale of stock for cash

    4,201,402       3       797                         800  

Issuance of common stock for services

    930,490       1       206                         207  

Issuance of common stock in exchange for Clyra shares

    527,983                                      

Stock option compensation expense

                195                         195  

Clyra Medical Technologies, Inc. (Clyra) stock options issued for services

                61                         61  

Warrant issued for interest

                30                         30  

Clyra – sales of Series A Preferred Stock

                                  225       225  

Clyra – Series A Preferred Stock – dividend

                                  (27 )     (27 )

Biolargo Energy Technology Inc. (BETI) offering

                                  550       550  

Noncontrolling interest allocation

                467                   (467 )      

Net loss

                      (247 )           (247 )     (494 )

Foreign currency translation

                            (6 )           (6 )

Balance, March 31, 2023

    284,122,581       190       150,191       (143,841 )     (155 )     (2,833 )     3,552  

Sale of stock for cash

    2,677,169       2       492                         494  

Issuance of common stock for services

    420,911             75                         75  

Stock option compensation expense

                222                         222  

Clyra Medical Technologies, Inc. (Clyra) stock options issued for services

                66                         66  

Clyra – sales of Series A Preferred Stock

                                  1,062       1,062  

Clyra – Series A Preferred Stock – dividend

                                  (45 )     (45 )

Biolargo Energy Technology Inc. (BETI) offering

                                  330       330  

Noncontrolling interest allocation

                1,461                   (1,461 )      

Net loss

                      (1,328 )           (298 )     (1,626 )

Foreign currency translation

                            (7 )           (7 )

Balance, June 30, 2023

    287,220,661       192       152,507       (145,169 )     (162 )     (3,245 )     4,123  

Sale of stock for cash

    1,190,223       1       202                         203  

Issuance of common stock for services

    215,686             37                         37  

Stock option compensation expense

                680                         680  

Clyra Medical Technologies, Inc. (Clyra) stock options issued for services

                45                         45  

Clyra Medical Technologies, Inc. (Clyra) stock option exercise

                3                         3  

Clyra – sales of Series A Preferred Stock

                                  288       288  

Clyra – Series A Preferred Stock – dividend

                                  (80 )     (80 )

Biolargo Energy Technology Inc. (BETI) offering

                                  25       25  

Noncontrolling interest allocation

                (68 )                 68        

Net loss

                      (1,200 )           (308 )     (1,508 )

Foreign currency translation

                            1             1  

Balance, September 30, 2023

    288,626,570     $ 193     $ 153,406     $ (146,369 )   $ (161 )   $ (3,252 )   $ 3,817  

 

- 4 -

 

   

Common stock

   

Additional paid-in

   

Accumulated

   

Accumulated other comprehensive

   

Non-controlling

   

Total stockholders’ equity

 
   

Shares

   

Amount

   

capital

   

deficit

   

Loss

   

interest

   

(deficit)

 
                                                         

Balance, December 31, 2021

    255,893,726     $ 171     $ 143,718     $ (139,121 )   $ (115 )   $ (3,720 )   $ 933  

Sale of stock for cash

    6,703,789       4       1,198                         1,202  

Issuance of common stock for services

    86,752             17                         17  

Stock option compensation expense

                660                         660  

Clyra Medical Technologies, Inc. (Clyra) stock options issued for services

                141                         141  

Noncontrolling interest allocation

                (528 )                 528        

Net loss

                      (1,652 )           108       (1,544 )

Foreign currency translation

                            (8 )           (8 )

Balance, March 31, 2022

    262,684,267       175       145,206       (140,773 )     (123 )     (3,084 )     1,401  

Sale of stock for cash

    5,011,570       4       944                         948  

Issuance of common stock for services

    340,891             59                         59  

Stock option compensation expense

                234                         234  

Clyra Medical Technologies, Inc. (Clyra) stock options issued for services

                82                         82  

Noncontrolling interest allocation

                (103 )                 103        

Net loss

                      (1,228 )           (105 )     (1,333 )

Foreign currency translation

                            (3 )           (3 )

Balance, June 30, 2022

    268,036,728       179       146,422       (142,001 )     (126 )     (3,086 )     1,388  

Sale of stock for cash

    6,207,084       4       1,113                         1,117  

Issuance of common stock for services

    378,828       1       95                         96  

Stock option compensation expense

                253                         253  

Clyra Medical Technologies, Inc. (Clyra) stock options issued for services

                85                         85  

Noncontrolling interest allocation

                (498 )                 498        

Net loss

                      (504 )           (343 )     (847 )

Foreign currency translation

                            (59 )           (59 )

Balance, September 30, 2022

    274,622,640     $ 184     $ 147,470     $ (142,505 )   $ (185 )   $ (2,931 )   $ 2,033  

 

The accompanying notes are an integral part of these unaudited consolidated financial statements.

 

 

 

BIOLARGO, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE Nine Months Ended September 30, 2023 AND 2022

(in thousands, except for share and per share data)

(unaudited)

 

   

September 30, 2023

   

September 30, 2022

 

Cash flows from operating activities

               

Net loss

  $ (3,628 )   $ (3,724 )

Adjustments to reconcile net loss to net cash used in operating activities:

               

Stock option compensation expense

    1,269       1,455  

Common stock issued for services

    319       172  

Bad debt expense

    101        

Excess and obsolete inventory

    54        

Amortization of right-of-use operating lease assets

    90        

Interest expense related to amortization of the discount on note payable

    3       13  

Fair value of warrant issued for interest

    30        

PPP loan forgiveness

          (174 )

Loss on investment in South Korean joint venture

    18       15  

Depreciation expense

    94       28  

Changes in assets and liabilities:

               

Accounts receivable

    (490 )     (371 )

Inventories

    (58 )     (19 )

Prepaid expenses and other assets

    101       (85 )

Accounts payable and accrued expenses

    (52 )     (40 )

Clyra accounts payable and accrued expenses

    (59 )     (20 )

Deferred revenue

    (15 )     (83 )

Lease liability, net

    (78 )      

Customer deposits

    (62 )     30  

Net cash used in operating activities

    (2,363 )     (2,803 )

Cash flows from investing activities

               

Equipment purchases

    (332 )     (164 )

Net cash used in investing activities

    (332 )     (164 )

Cash flows from financing activities

               

Proceeds from sale of common stock

    1,497       3,267  

Proceeds from sale of BETI common stock

    905        

Repayment of note payable and vehicle loan

    (55 )      

Repayment by Clyra on inventory line of credit

    (27 )     (24 )

Proceeds from sale of Clyra Medical preferred stock

    1,575       100  

Proceeds from Clyra Medical stock option exercise

    3        

Net cash provided by financing activities

    3,898       3,343  

Net effect of foreign currency translation

    (12 )     (70 )

Net change in cash

    1,191       306  

Cash at beginning of year

    1,851       962  

Cash at end of period

  $ 3,042     $ 1,268  

Supplemental disclosures of cash flow information

               

Cash paid during the year for:

               

Interest

  $ 39     $ 11  

Income taxes

  $     $  

Short-term lease payments not included in lease liability

  $ 43     $ 90  

Non-cash investing and financing activities

               

Equipment added using capital lease

  $ 80     $  

Right of use

  $     $ 433  

Allocation of noncontrolling interest

  $ 1,860     $ 1,129  

Preferred Series A dividend

  $ 152     $  

 

The accompanying notes are an integral part of these unaudited consolidated financial statements.

 
- 6 -

BIOLARGO, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(UNAUDITED)

 

 

Note 1. Business and Organization

 

Description of Business

 

BioLargo, Inc. (“BioLargo”, or the “Company”) invents, develops, and commercializes innovative platform technologies to solve challenging environmental problems like PFAS contamination (per- and polyfluoroalkyl substances), advanced water and wastewater treatment, industrial odor control, air quality control, infection control, and myriad environmental remediation challenges. Our business strategy is straightforward: we invent or acquire technologies that we believe have the potential to be disruptive in large commercial markets; we develop and validate these technologies to advance and promote their commercial success as we leverage our considerable scientific, engineering, and entrepreneurial talent; we then monetize these technical assets through a variety of business structures that may include licensure, joint venture, sale, spin off, or by deploying direct to market strategies.

 

Organization

 

We are a Delaware corporation formed in 1991. We have six wholly-owned subsidiaries: BioLargo Life Technologies, Inc., organized under the laws of the State of California in 2006; ONM Environmental, Inc., organized under the laws of the State of California in 2009; BioLargo Equipment and Technologies, Inc., organized under the laws of the State of California in 2022; BioLargo Water, Inc. (“Water”), organized under the laws of Canada in 2014; BioLargo Equipment and Solutions Technologies, Inc., organized under the laws of the State of California in 2022; and BioLargo Development Corp., organized under the laws of the State of California in 2016. Additionally, we own 53% of Clyra Medical Technologies, Inc. (“Clyra” or “Clyra Medical”), organized under the laws of the State of California in 2012 (see Note 8), 82% of BioLargo Engineering Science and Technologies, LLC (“BLEST”), organized under the laws of the State of Tennessee in 2017 (see Note 9), and 96% of BioLargo Energy Technologies, Inc. (“BETI”) organized under the laws of the State of California in 2022 (see Note 10). We consolidate the financial statements of our partially owned subsidiaries (see Note 2, subheading “Principles of Consolidation,”).

 

Liquidity / Going Concern

 

The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of our business. For the nine months ended September 30, 2023, we generated revenues of $7,860,000 through our business segments (see Note 11), had a net loss of $3,628,000, used $2,363,000 cash in operations, and at September 30, 2023, we had working capital of $2,951,000, and current assets of $4,691,000.

 

During the nine months ended September 30, 2023, we sold (i) $502,000 of our common stock to Lincoln Park Capital Fund, LLC (“Lincoln Park”) (see Note 3), (ii) $995,000 of our common stock and warrants to accredited investors (see Notes 3 and 6), (iii) $1,575,000 of Clyra Medical Series A Preferred Stock (see Note 8), and (iv) $905,000 of BETI common stock (see Note 10). Subsequent to September 30, 2023, we continued selling stock to Lincoln Park (see Note 13). As of September 30, 2023, our cash and cash equivalents totaled $3,042,000. Our total liabilities included a $71,000 vehicle loan, $140,000 due in U.S. Small Business Administration (SBA) loans issued pursuant to the Paycheck Protection Program (see Note 4), $148,000 due to the SBA issued pursuant to the Economic Injury Disaster program (see Note 4), and $234,000 owed by Clyra Medical due in 2024 (see Note 8). We have been, and anticipate that we will continue to be, limited in terms of our capital resources, and expect to continue to need further investment capital to fund operations. 

 

If we are unable to rely on our current arrangement with Lincoln Park to fund our working capital requirements, we will have to rely on other forms of financing, and there is no assurance that we will be able to do so, or if we do so, it will be on favorable terms.

 

- 7 -

BIOLARGO, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(UNAUDITED)
 

The foregoing factors raise substantial doubt about our ability to continue as a going concern, unless we are able to continue to raise funds through stock sales to Lincoln Park or other private financings, or attain a reasonable threshold of operating efficiencies and achieve profitable operations. The consolidated financial statements do not include any adjustments that might be necessary if we are unable to continue as a going concern.

 

 
 

Note 2. Summary of Significant Accounting Policies

 

Principles of Consolidation

 

The consolidated financial statements include the accounts of the Company, its wholly owned subsidiaries, and partially owned subsidiaries BETI, BLEST and Clyra Medical. All intercompany accounts and transactions have been eliminated.

 

Foreign Currency

 

The Company has designated the functional currency of BioLargo Water, Inc., our Canadian subsidiary, to be the Canadian dollar. Therefore, translation gains and losses resulting from differences in exchange rates are recorded in accumulated other comprehensive income.

 

Cash and Cash Equivalents

 

The Company considers all highly liquid investments with maturities of three months or less when acquired to be cash equivalents. Substantially all cash equivalents are held in short-term money market accounts at one of the largest financial institutions in the United States, Bank of America. From time to time, our cash account balances are greater than the Federal Deposit Insurance Corporation insurance limit of $250,000 per owner per bank, and during such times, we are exposed to credit loss for amounts in excess of insured limits in the event of non-performance by the financial institution. We do not anticipate non-performance by our financial institution.

 

As of September 30, 2023, and December 31, 2022, our cash balances were made up of the following (in thousands):

 

  

September 30, 2023

  

December 31, 2022

 

BioLargo, Inc. and subsidiaries

 $2,280  $1,681 

Clyra Medical Technologies, Inc.

  762   170 

Total

 $3,042  $1,851 

 

Accounts Receivable

 

In June 2016, the FASB issued ASU 2016-13, which sets out the principles for the recognition of measurement of credit losses on financial instruments, including trade receivables. The standard eliminates the probable initial recognition threshold and requires an entity to reflect its current estimate of all expected credit losses. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial assets to present the net amount expected to be collected. The new standard was effective for the Company beginning January 1, 2023 and primarily impacted trade accounts receivable. 

 

Accounts receivable are customer obligations that are unconditional. Accounts receivable are presented net of an allowance for doubtful accounts for expected credit losses, which represents an estimate of amounts that may not be collectible. The Company performs ongoing credit evaluations of its customers and, if necessary, provides an allowance for doubtful accounts and expected credit losses. A provision to the allowances for doubtful accounts for expected credit losses is recorded based on factors including the length of time the receivables are past due, the current business environment, and the Company’s historical experience. Provisions to the allowances for doubtful accounts for expected credit losses are recorded to general and administrative expenses. The Company writes off accounts receivable against the allowance when it determines a balance is uncollectible and no longer actively pursues collection of the receivable. The Company does not have any off-balance-sheet credit exposure related to customers. As of September 30, 2023, and December 31, 2022, the allowance for doubtful accounts for expected credit losses was $113,000 and $12,000, respectively.

 

- 8 -

BIOLARGO, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(UNAUDITED)
 

Credit Concentration

 

We have a limited number of customers that account for significant portions of our revenue. During the three and nine months ended September 30, 2023 and 2022, the following customers accounted for more than 10% of consolidated revenues:

 

  

Three Months

  

Nine Months

 
  

September 30, 2023

  

September 30, 2022

  

September 30, 2023

  

September 30, 2022

 
                 

Customer A

  74%   4%   76%   44% 

Customer B

 

<10%

  

<10%

  

<10%

   14% 

Customer C

 

<10%

  

<10%

  

<10%

  

<10%

 

 

At September 30, 2023, one customer accounted for more than 10% of consolidated accounts receivable, and at December 31, 2022, three customers accounted for more than 10% of consolidated accounts receivable:

 

  

September 30, 2023

  

December 31, 2022

 

Customer A

  67%  11%

Customer B

 

<10%

   31%

Customer D

 

<10%

   15%

 

Inventory

 

Inventories are stated at the lower of cost or net realizable value using the average cost method. The allowance for obsolete inventory as of  September 30, 2023, and December 31, 2022, was $212,000 and $158,000, respectively. Inventories consisted of (in thousands):

 

  

September 30, 2023

  

December 31, 2022

 

Raw material

 $78  $46 

Finished goods

  44   74 

Total

 $122  $120 

 

- 9 -

BIOLARGO, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(UNAUDITED)
 

Other Non-Current Assets

 

Other non-current assets consisted of (i) security deposits related to our business offices, (ii) three patents acquired on  October 22, 2021, for $34,000, and (iii) tax credit receivables from the Canadian government related to a research and development credit from our Canadian subsidiary for which we’ve applied for and received in prior periods.

 

  

September 30, 2023

  

December 31, 2022

 

Patents

 $34  $34 

Security deposits

  35   35 

Tax credit receivable

     55 

Total

 $69  $124 

 

Equity Method of Accounting

 

On March 20, 2020, we invested $100,000 into a South Korean entity (Odin Co. Ltd., “Odin”) pursuant to a Joint Venture agreement we had entered into with BKT Co. Ltd. and its U.S. based subsidiary, Tomorrow Water. We received a 40% non-dilutive equity interest, and BKT and Tomorrow Water each received 30% equity interests for an aggregate $150,000 investment.

 

We account for our investment in the joint venture under the equity method of accounting. We have determined that while we have significant influence over the joint venture through our technology license and our position on the Board of Directors, we do not control the joint venture or are otherwise involved in managing the entity and we own less than a majority of the equity. Therefore, we record the asset on our consolidated balance sheet and record an increase or decrease of the recorded balance by our percentage ownership of the profits or losses in the joint venture. The joint venture has incurred a loss since inception and our 40% ownership share reduced our investment interest. For the three and nine months ended September 30, 2023, the reduction of our investment interest totaled $6,000 and $18,000, respectively, and for the same periods in 2022, reduced our investment interest $15,000 and $23,000, respectively.

 

Impairment

 

Long-lived and definite lived intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.  If the sum of the expected future undiscounted cash flows from the use of the asset and its eventual disposition is less than the carrying amount of the asset, then an impairment loss is recognized.  The impairment loss is measured based on the fair value of the asset.  Any resulting impairment is recorded as a reduction in the carrying value of the related asset in excess of fair value and a charge to operating results. There were no impairment losses related to intangible assets during the three or nine months ended September 30, 2023 or 2022.

 

Earnings (Loss) Per Share

 

We report basic and diluted earnings (loss) per share (“EPS”) for common and common share equivalents. Basic EPS is computed by dividing reported earnings by the weighted average shares outstanding. Diluted EPS is computed by adding to the weighted average shares the dilutive effect if convertible notes payable, stock options and warrants were exercised into common stock. For the three and nine months ended September 30, 2023, and 2022, the denominator in the diluted EPS computation is the same as the denominator for basic EPS due to the Company’s net loss which creates an anti-dilutive effect of the convertible notes payable, warrants and stock options.

 

Use of Estimates

 

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and revenues and expenses during the period reported. Actual results could differ from those estimates. Estimates are used when accounting for stock-based transactions, debt transactions, derivative liabilities, allowance for bad debt, asset depreciation and amortization, impairment expense, among others.

 

The methods, estimates and judgments we use in applying these most critical accounting policies have a significant impact on the results of our financial statements.

 

- 10 -

BIOLARGO, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(UNAUDITED)
 

Share-Based Compensation Expense

 

We recognize compensation expense for stock option awards on a straight-line basis over the applicable service period of the award, which is the vesting period. Fair value is determined on the grant date. Share-based compensation expense is based on the grant date fair value estimated using the Black-Scholes Option Pricing Model.

 

For stock and stock options issued to consultants and other non-employees for services, the Company measures and records an expense as of the earlier of the date at which either: a commitment for performance by the non-employee has been reached or the non-employee’s performance is complete. The equity instruments are measured at the current fair value, and for stock options, the instruments are measured at fair value using the Black Scholes option model.

 

The following methodology and assumptions were used to calculate share-based compensation for the nine months ended September 30, 2023, and 2022:

 

  

2023

  

2022

 
  

Non Plan

  

2018 Plan

  

Non Plan

  

2018 Plan

 

Risk free interest rate

  4.15%  3.48 -