IBOHIGH SIGNALFINANCIAL10-K

Impact BioMedical experienced a severe cash depletion from $2.0M to $3K while substantially reducing operating losses and liabilities.

The company's cash position collapsed to just $3K, creating an immediate liquidity crisis that threatens operations despite meaningful improvements in loss reduction. While the company substantially reduced operating losses and eliminated significant liabilities, the near-zero cash position suggests urgent need for additional financing or potential going-concern issues.

Comparing 2026-03-11 vs 2025-03-28View on EDGAR →
FINANCIAL ANALYSIS

The company's financial profile shows a dramatic cash depletion alongside substantial debt reduction and meaningful operating loss improvements. Current liabilities dropped significantly from $9.8M to $1.2M, while operating losses improved considerably from -$28.8M to -$4.3M, indicating better expense control. However, the collapse in cash reserves to just $3K, combined with minimal revenue of $32K, creates severe near-term liquidity constraints that overshadow the operational improvements.

FINANCIAL STATEMENT CHANGES
Cash & Equivalents
Balance Sheet
-99.8%
$2.0M→$3K

Cash declined 99.8% — significant cash burn or deployment; verify adequacy of remaining liquidity runway.

Current Liabilities
Balance Sheet
-88.1%
$9.8M→$1.2M

Current liabilities reduced — improved short-term financial position and working capital health.

Total Liabilities
Balance Sheet
-85.8%
$13.1M→$1.9M

Liabilities reduced 85.8% — deleveraging improves balance sheet strength and financial flexibility.

Operating Income
P&L
+85.1%
-$28.8M→-$4.3M

Operating leverage kicking in — revenue growth outpacing cost growth, a hallmark of scaling businesses.

Current Assets
Balance Sheet
-83.2%
$2.4M→$411K

Current assets declined 83.2% — monitor working capital adequacy and short-term liquidity.

Net Income
P&L
+52.1%
-$24.7M→-$11.8M

Net income grew 52.1% — bottom-line growth signals improving overall business health.

Operating Cash Flow
Cash Flow
+51.8%
-$3.9M→-$1.9M

Operating cash flow surged 51.8% — exceptional cash generation, highest quality earnings signal.

Revenue
P&L
-36%
$50K→$32K

Revenue declined 36% — significant demand weakness or market share loss warrants investigation.

Interest Expense
P&L
-25.5%
$1.1M→$793K

Interest expense declined — debt repayment or refinancing at lower rates improving earnings quality.

R&D Expense
P&L
+22.3%
$278K→$340K

R&D investment increased 22.3% — signals commitment to future product development, though near-term margin impact.

LANGUAGE CHANGES
NEW — 2026-03-11
PRIOR — 2025-03-28
ADDED
As of March 6, 2026, there were 107,821,231 shares of the registrant s common stock, $ 0.001 par value, outstanding.
Below is a list of our principal subsidiaries: Impact BioLife Science, Inc .
We own approximately 95.5% of the issued and outstanding common stock of Sweet Sense.
Laetose has a unique composition patent allowed in the United States and other countries worldwide.
4 2025 RECAP Impact BioMedical (IBO) continued to develop strong potential through expanding a robust intellectual property(IP) portfolio, partnerships for development, registration, and commercialization, and positioning the company for near-term revenue generation..
Intellectual Property: Technology and patent platforms were expanded in 2025, resulting in sixty (60) issued and over sixty (60) pending patents at the end of 2025.
Accomplishments include: Allowance of our Laetose patent in Europe, representing a novel combination of one or more sugars and myo-inositol, with the potential to inhibit the inflammatory and metabolic response of sugar alone.
This expands the worldwide potential following the first U.S.
allowance for infectious disease The technology is designed to act as an antibacterial or antiviral agent, with potential applications for killing microbes as a disinfectant or as a treatment for infectious diseases (e.g., E.
3F also received an allowance in Europe for application as a natural insect repellent.
REMOVED
As of February 26, 2025 there were 12,085,412 shares of the registrant s common stock, $ 0.001 par value, outstanding.
By leveraging technology and new science with strategic partnerships, we provide advances in biopharmaceuticals and over the counter direct to consumer wellness offerings, and drug discovery for the prevention, inhibition, and treatment of neurological, oncology and immuno-related diseases.
Below is a list of our principal subsidiaries: Impact BioLife Science, Inc.; Global Biomedical, Inc.; Global BioLife, Inc.; and Sweet Sense, Inc.
We are the owner of 95.5% of the issued and outstanding common stock of Sweet Sense.
Laetose has a unique composition patent allowed in the United States and patents are pending in other countries worldwide.
4 2024 RECAP As a relatively new public entity, Impact BioMedical (IBO) has already demonstrated an ability to establish an experienced leadership team, attract investor confidence, build a robust intellectual property(IP) portfolio, and create partnerships for development, registration, and commercialization.
Progress advanced considerably in 2024: Intellectual Property: Three new patent platforms were established in 2024 adding to the 36 issued and 50+ patents in the IBO portfolio.
Laetose patent representing a novel combination of one or more sugars and myo-inositol, with the potential to inhibit the inflammatory and metabolic response of sugar alone.
3F patent estate with new compositions and formulations of constituents found in plants and fragrances with application as a natural insect repellent.
Regional expansion of the Linebacker patent estate with granting of a Canadian patent for unique phenolic compounds and pharmaceutical compositions in treating inflammatory related diseases.
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