$BLGO
BIOLARGO, INC.

2017 Q3 Form 10-Q Financial Statement

#000143774917019208 Filed on November 14, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q3
Revenue $172.0K $162.3K
YoY Change 5.99% 274.57%
Cost Of Revenue $123.3K $47.11K
YoY Change 161.67% 136.39%
Gross Profit $48.77K $115.2K
YoY Change -57.67% 392.24%
Gross Profit Margin 28.35% 70.98%
Selling, General & Admin $1.118M $989.2K
YoY Change 13.0% -32.02%
% of Gross Profit 2292.1% 858.63%
Research & Development $425.7K $348.6K
YoY Change 22.1% 114.85%
% of Gross Profit 872.86% 302.6%
Depreciation & Amortization $6.647K $3.005K
YoY Change 121.2% 10.07%
% of Gross Profit 13.63% 2.61%
Operating Expenses $1.550M $1.341M
YoY Change 15.61% -17.1%
Operating Profit -$1.501M -$1.226M
YoY Change 22.49% -23.25%
Interest Expense $848.7K $1.088M
YoY Change -21.96% 339.76%
% of Operating Profit
Other Income/Expense, Net -$744.8K -$1.258M
YoY Change -40.82% -6392.33%
Pretax Income -$2.250M -$2.480M
YoY Change -9.27% 36.26%
Income Tax
% Of Pretax Income
Net Earnings -$2.246M -$2.484M
YoY Change -9.58% 36.25%
Net Earnings / Revenue -1305.55% -1530.36%
Basic Earnings Per Share
Diluted Earnings Per Share -$21.44K -$27.34K
COMMON SHARES
Basic Shares Outstanding 100.8M 88.15M
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.250M $1.730M
YoY Change -27.75% 208.93%
Cash & Equivalents $1.252M $1.732M
Short-Term Investments
Other Short-Term Assets $40.00K $30.00K
YoY Change 33.33% -50.0%
Inventory $39.28K $25.62K
Prepaid Expenses $32.25K
Receivables $113.6K $83.29K
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.447M $1.873M
YoY Change -22.78% 179.57%
LONG-TERM ASSETS
Property, Plant & Equipment $55.22K $55.01K
YoY Change 0.38%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $33.94K $39.46K
YoY Change -13.99% -60.54%
Total Long-Term Assets $294.7K $94.47K
YoY Change 211.95% -5.53%
TOTAL ASSETS
Total Short-Term Assets $1.447M $1.873M
Total Long-Term Assets $294.7K $94.47K
Total Assets $1.741M $1.968M
YoY Change -11.51% 155.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $277.4K $230.0K
YoY Change 20.61% -17.86%
Accrued Expenses $0.00 $100.0K
YoY Change -100.0%
Deferred Revenue
YoY Change
Short-Term Debt $50.00K $0.00
YoY Change
Long-Term Debt Due $3.110M $200.0K
YoY Change 1455.0%
Total Short-Term Liabilities $3.612M $831.2K
YoY Change 334.56% 107.81%
LONG-TERM LIABILITIES
Long-Term Debt $1.507M $5.448M
YoY Change -72.34% 4852.61%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $1.507M $5.448M
YoY Change -72.34% 4852.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.612M $831.2K
Total Long-Term Liabilities $1.507M $5.448M
Total Liabilities $4.143M $2.128M
YoY Change 94.7% 279.94%
SHAREHOLDERS EQUITY
Retained Earnings -$98.86M -$89.68M
YoY Change 10.24%
Common Stock $68.19K $60.11K
YoY Change 13.43%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$3.090M -$760.0K
YoY Change
Total Liabilities & Shareholders Equity $1.741M $1.968M
YoY Change -11.51% 155.53%

Cashflow Statement

Concept 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income -$2.246M -$2.484M
YoY Change -9.58% 36.25%
Depreciation, Depletion And Amortization $6.647K $3.005K
YoY Change 121.2% 10.07%
Cash From Operating Activities -$1.020M -$1.110M
YoY Change -8.11% 109.43%
INVESTING ACTIVITIES
Capital Expenditures -$10.00K -$50.00K
YoY Change -80.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$10.00K -$50.00K
YoY Change -80.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.810M 2.010M
YoY Change -9.95% 103.03%
NET CHANGE
Cash From Operating Activities -1.020M -1.110M
Cash From Investing Activities -10.00K -50.00K
Cash From Financing Activities 1.810M 2.010M
Net Change In Cash 780.0K 850.0K
YoY Change -8.24% 84.78%
FREE CASH FLOW
Cash From Operating Activities -$1.020M -$1.110M
Capital Expenditures -$10.00K -$50.00K
Free Cash Flow -$1.010M -$1.060M
YoY Change -4.72%

Facts In Submission

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NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
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CY2016Q3 us-gaap Operating Expenses
OperatingExpenses
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CY2017Q3 us-gaap Operating Expenses
OperatingExpenses
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us-gaap Operating Expenses
OperatingExpenses
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us-gaap Operating Expenses
OperatingExpenses
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CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-1501340
us-gaap Operating Income Loss
OperatingIncomeLoss
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us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2016Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
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CY2017Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
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CY2016Q2 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
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us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
300000
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
250000
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
153000
CY2016Q3 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
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us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
355000
us-gaap Profit Loss
ProfitLoss
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
23743
CY2016Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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CY2017Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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CY2016Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1258465
CY2017Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-2061219
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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us-gaap Other Significant Noncash Transaction Value Of Consideration Given1
OtherSignificantNoncashTransactionValueOfConsiderationGiven1
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us-gaap Other Significant Noncash Transaction Value Of Consideration Given1
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us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
55349
us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
9000
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
40000
CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.00067
CY2017Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.00067
CY2016Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000
CY2017Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000
CY2016Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2017Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2016Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2017Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2016Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2017Q3 us-gaap Preferred Stock Value
PreferredStockValue
CY2016Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
4089
CY2017Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
41623
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
22500
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
750000
us-gaap Profit Loss
ProfitLoss
-5796831
CY2016Q3 us-gaap Profit Loss
ProfitLoss
-2484103
CY2017Q3 us-gaap Profit Loss
ProfitLoss
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CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
59315
CY2017Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
55219
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
2500
CY2016Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
348619
CY2017Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
425670
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1029637
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
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CY2017Q3 us-gaap Retained Earnings Accumulated Deficit
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CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2016Q3 us-gaap Revenue From Grants
RevenueFromGrants
31223
CY2017Q3 us-gaap Revenue From Grants
RevenueFromGrants
103949
us-gaap Revenue From Grants
RevenueFromGrants
113319
us-gaap Revenue From Grants
RevenueFromGrants
174098
CY2016Q3 us-gaap Royalty Revenue
RoyaltyRevenue
55000
CY2017Q3 us-gaap Royalty Revenue
RoyaltyRevenue
us-gaap Royalty Revenue
RoyaltyRevenue
55000
us-gaap Royalty Revenue
RoyaltyRevenue
CY2016Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
107321
CY2017Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
172045
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
160249
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
318040
us-gaap Sales Revenue Net
SalesRevenueNet
318040
CY2016Q3 us-gaap Sales Revenue Net
SalesRevenueNet
162321
CY2017Q3 us-gaap Sales Revenue Net
SalesRevenueNet
172045
us-gaap Sales Revenue Net
SalesRevenueNet
215249
CY2016Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
989223
CY2017Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
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us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
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us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
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us-gaap Share Based Compensation
ShareBasedCompensation
645808
us-gaap Share Based Compensation
ShareBasedCompensation
801716
us-gaap Share Based Goods And Nonemployee Services Transaction Valuation Method Expected Term1
ShareBasedGoodsAndNonemployeeServicesTransactionValuationMethodExpectedTerm1
P5Y
us-gaap Share Based Goods And Nonemployee Services Transaction Valuation Method Expected Term1
ShareBasedGoodsAndNonemployeeServicesTransactionValuationMethodExpectedTerm1
P5Y
CY2016Q3 us-gaap Share Price
SharePrice
0.70
CY2016Q4 us-gaap Share Price
SharePrice
0.86
CY2016Q4 us-gaap Share Price
SharePrice
0.83
us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
836250
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
252317
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
22500
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
-1325167
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
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CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-770198
CY2017Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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us-gaap Use Of Estimates
UseOfEstimates
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; text-decoration: underline;"><div style="display: inline; font-style: italic;">Use of Estimates</div></div></div></div> <div style=" font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">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 compensation<div style="display: inline; font-family:Times New Roman, Times, serif;font-size:10pt;">, equity components of financing transactions, uncollectible accounts receivable, asset impairment and amortization, and taxes, among others.</div></div> <div style=" font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">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.<div style="display: inline; font-family:Times New Roman, Times, serif;font-size:10pt;"> &nbsp;</div></div></div></div></div></div></div>
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
88148092
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
100752279
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
86809862
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
97679544

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