ALBTHIGH SIGNALOPERATIONAL10-K

ALBT has undergone a fundamental business transformation from a precision diagnostics company focused on breathalyzer devices and laboratory services to a technology-innovation company seeking AI acquisitions.

This represents a complete strategic pivot away from the company's established healthcare diagnostics operations, including the Keto Air breathalyzer and laboratory testing services that were central to its previous business model. The shift toward seeking "complementary bolt-on AI acquisitions" suggests management is abandoning its core competencies for an entirely different market opportunity, which introduces significant execution risk and uncertainty about the company's future direction.

Comparing 2026-03-30 vs 2025-03-31View on EDGAR →
FINANCIAL ANALYSIS

The company's financial position shows concerning deterioration with cash reserves dropping dramatically from $2.9M to just $109K, creating potential liquidity concerns. Operating losses expanded meaningfully while gross profit declined over 30%, and R&D spending was substantially reduced from $731K to $110K. Despite these operational challenges, stockholders' equity increased 30% and total assets grew modestly, though the severe cash burn and widening losses overshadow these positive balance sheet movements.

FINANCIAL STATEMENT CHANGES
Cash & Equivalents
Balance Sheet
-96.2%
$2.9M→$109K

Cash declined 96.2% — significant cash burn or deployment; verify adequacy of remaining liquidity runway.

R&D Expense
P&L
-85%
$731K→$110K

R&D spending cut 85% — could signal cost discipline or concerning reduction in innovation investment.

Operating Income
P&L
-54.1%
-$4.9M→-$7.6M

Operating income deteriorated sharply — investigate whether driven by one-time charges or structural cost issues.

Current Assets
Balance Sheet
-53.8%
$3.2M→$1.5M

Current assets declined 53.8% — monitor working capital adequacy and short-term liquidity.

Gross Profit
P&L
-34.2%
$415K→$273K

Gross margin compression — rising input costs, pricing pressure, or unfavorable product mix shift.

Stockholders Equity
Balance Sheet
+30%
$7.1M→$9.2M

Equity base grew 30% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Operating Cash Flow
Cash Flow
+23.6%
-$6.5M→-$5.0M

Operating cash flow grew 23.6% — strong conversion of earnings to cash, healthy business fundamentals.

Total Assets
Balance Sheet
+11.5%
$21.0M→$23.4M

Asset base grew 11.5% — expansion through organic growth, acquisitions, or capital deployment.

LANGUAGE CHANGES
NEW — 2026-03-30
PRIOR — 2025-03-31
ADDED
(Exact name of registrant as specified in its charter) Delaware 47-1685128 (State or other jurisdiction of (I.R.S.
The registrant intends to file its proxy statement within 120 days after its fiscal year end.
BUSINESS Overview We are a technology-innovation company with a strategic focus on developing innovative products and services that serve growing consumer health and technology markets.
Throughout our operating history, we have maintained our corporate identity, management team and original mission while strategically evolving our business in response to market conditions and commercial opportunities, with each such evolution being the product of deliberate decisions.
We are actively seeking complementary bolt-on AI acquisitions that could generate near-term revenue to supplement our current operations as both segments continue to develop.
We believe our diverse and evolving portfolio of commercial activities reflects our ongoing commitment to identifying and building value-oriented technology businesses for the benefit of its stockholders.
Consumer Health Technology Segment - Keto-Air Breathalyzer Overview Our consumer health technology segment is centered on the Keto Air breathalyzer device, a non-invasive consumer health product that allows users to determine whether they are in a state of nutritional ketosis, and at what level, by exhaling into a compact, pen-like breathalyzer.
Ketosis is a metabolic state in which the body burns fat for fuel rather than carbohydrates, and is widely associated with low-carbohydrate and ketogenic dietary regimens.
The Keto Air device represents a meaningful improvement over prior methods of measuring ketosis, such as urine test strips or earlier-generation breathalyzers that required cartridge replacements, offering users a convenient, reusable, and non-invasive testing experience.
We entered into an exclusive North American distribution agreement for the Keto-Air technology and device in 2024.
REMOVED
On October 28, 2024, the Company effectuated a reverse stock split of the Company s common stock at a ratio of 1-for-15 (the Reverse Stock Split ).
All amounts and values presented in this Annual Report on Form 10-K have been retroactively adjusted to reflect the Reverse Stock Split for all periods presented, unless otherwise indicated.
BUSINESS We are a commercial-stage company dedicated to developing and delivering precision diagnostic consumer products.
We are currently marketing the Keto Air breathalyzer device and plan to develop additional diagnostic uses of the breathalyzer technology.
We also provided laboratory services in 2024 and 2023, offering a broad portfolio of diagnostic tests, including drug testing, toxicology, and a broad array of test services, from general bloodwork to anatomic pathology, and urine toxicology.
We completed an acquisition of a 40% membership interest in Laboratory Services MSO, LLC ( Lab Services MSO ), which closed in February 2023.
In 2024, we initiated sales of our first diagnostic consumer product, Keto Air, a device that tests ketosis levels.
We had the following areas of focus in 2024 and 2023: Laboratory Acquisitions We had embarked on a laboratory rollup strategy focused on forming joint ventures and acquiring laboratories that were accretive to our commercial strategy.
As a first step, in February 2023, we acquired a 40% membership interest in Lab Services MSO.
Among other things, Lab Services MSO provides toxicology and wellness testing services, a broad portfolio of diagnostic tests, and a broad array of test services.
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