ORGNWHIGH SIGNALFINANCIAL10-K

ORGNW executed a 1:30 reverse stock split while experiencing substantial declines in revenue, assets, and stockholders' equity, signaling significant financial distress.

The reverse stock split from 149.4 million to 5.4 million shares outstanding typically indicates a company struggling to maintain exchange listing requirements due to low share price. Combined with meaningful revenue declines and substantial asset reductions, this suggests the company is facing severe operational and financial challenges that may threaten its viability.

Comparing 2026-03-30 vs 2025-03-13View on EDGAR →
FINANCIAL ANALYSIS

ORGNW's financial position deteriorated markedly, with revenue declining meaningfully to $18.9M and total assets falling substantially to $157.7M. While operating cash flow losses improved modestly, the company's stockholders' equity dropped significantly to $104.2M and cash reserves declined notably to $32.9M. The overall picture reveals a company in financial distress, burning through capital while experiencing declining business performance across key operational metrics.

FINANCIAL STATEMENT CHANGES
Stockholders Equity
Balance Sheet
-69.2%
$338.4M→$104.2M

Equity declined sharply — large losses, buybacks, or write-downs reducing book value significantly.

Total Assets
Balance Sheet
-58.3%
$378.0M→$157.7M

Total assets contracted 58.3% — asset sales, write-downs, or balance sheet optimization underway.

Current Assets
Balance Sheet
-41.9%
$139.2M→$80.9M

Current assets declined 41.9% — monitor working capital adequacy and short-term liquidity.

Cash & Equivalents
Balance Sheet
-41.5%
$56.3M→$32.9M

Cash declined 41.5% — significant cash burn or deployment; verify adequacy of remaining liquidity runway.

Revenue
P&L
-39.5%
$31.3M→$18.9M

Revenue declined 39.5% — significant demand weakness or market share loss warrants investigation.

Operating Cash Flow
Cash Flow
+35.5%
-$50.8M→-$32.8M

Operating cash flow surged 35.5% — exceptional cash generation, highest quality earnings signal.

Total Liabilities
Balance Sheet
+34.8%
$39.7M→$53.4M

Liabilities grew 34.8% — significant increase in debt or obligations, assess impact on financial flexibility.

Accounts Receivable
Balance Sheet
-32%
$19.2M→$13.0M

Receivables declined — improved collection efficiency or conservative revenue recognition.

R&D Expense
P&L
-25.9%
$18.6M→$13.7M

R&D spending cut 25.9% — could signal cost discipline or concerning reduction in innovation investment.

Inventory
Balance Sheet
-21%
$866K→$684K

Inventory reduced 21% — lean inventory management or demand outpacing supply.

LANGUAGE CHANGES
NEW — 2026-03-30
PRIOR — 2025-03-13
ADDED
The registrant had issued and outstanding an aggregate of 5,425,037 shares of common stock as of March 20, 2026.
If such Proxy Statement is not filed within 120 days after the end of the registrant s fiscal year covered by this Annual Report on Form 10 K, such information will be included in an amendment to this Annual Report on Form 10 K to be filed within such 120-day period.
Market for Registrant s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 46 Item 6.
Management s Discussion and Analysis of Financial Condition and Results of Operations 47 Item 7A.
1 EXPLANATORY NOTE REVERSE STOCK SPLIT On March 19, 2026, we filed with the Secretary of State of the State of Delaware a Certificate of Amendment to our Certificate of Incorporation (the Amendment ), to effect a one-for-thirty (1:30) reverse stock split of our issued and outstanding common stock, effective as of March 19, 2026 (the Reverse Stock Split ).
A series of alternate amendments to effect the Reverse Stock Split was approved by our stockholders at a Special Meeting of Stockholders held on February 17, 2026, and the specific one-for-thirty (1:30) ratio was subsequently approved by our Board of Directors on March 4, 2026.
The Amendment provided that at the effective time of the Reverse Stock Split, every 30 shares of our issued and outstanding common stock were automatically converted into one issued and outstanding share of common stock, without any change in par value per share.
The Reverse Stock Split affected all shares of our common stock issued and outstanding immediately prior to the effective time of the Reverse Stock Split, as well as the number of shares of common stock available for issuance under our equity incentive plans and employee stock purchase plan.
If as a result of the Reverse Stock Split, a stockholder would otherwise hold a fractional share, one full share of common stock was issued in lieu of issuing any such fractional share.
The number of authorized shares of common stock was not adjusted as a result of the Reverse Stock Split.
REMOVED
The registrant had issued and outstanding an aggregate of 149,354,886 shares of common stock as of March 7, 2025.
Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 39 Item 6.
Management's Discussion and Analysis of Financial Condition and Results of Operations 41 Item 7A.
For more detailed descriptions of each risk factor, see item 1A titled Risk Factors.
Our business plan assumes we can secure substantial additional project financing and/or government incentives, which may be unavailable on favorable terms, if at all.
Construction of manufacturing lines for production of our PET closures, or of additional plants beyond Origin 1, may not be completed in a timely-manner or completed in a cost-effective manner or at all.
Our management team has relatively limited experience operating a public company.
We previously identified a material weakness in our internal control over financial reporting that we have concluded has been remediated.
However, we may identify additional material weaknesses in the future or fail to maintain effective internal control over financial reporting, which may result in material misstatements of our consolidated financial statements or cause us to fail to meet our periodic reporting obligations.
Our furanics technologies include our furanics platform for transforming carbon into sustainable materials for a wide range of end products capable of addressing an estimated $1 trillion market opportunity, including food and beverage packaging, clothing, textiles, plastics, car parts, carpeting, tires, adhesives, soil amendments, and fuels.
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