Biolargo - BLGO STOCK NEWS

BioLargo's subsidiary, Clyra Medical Technologies, has appointed Dr. Steven J. Kavros as its new Chief Medical Officer. Dr. Kavros brings extensive experience in advanced wound healing and limb preservation, having spent over 20 years at the Mayo Clinic. He has a strong background in research, medical education, and the medical device industry. Dr. Kavros has given over 1,800 presentations at conferences and authored numerous peer-reviewed papers. His expertise includes successfully bringing multiple products to market in wound healing, limb preservation, and orthopedics. Clyra CEO Steve Harrison believes Dr. Kavros' clinical expertise and business insight will be important for the company's manufacturing and distribution plans for its Bioclynse product.

BioLargo, Inc. (OTCQX:BLGO), a sustainable technology developer and environmental engineering company, has announced an investor webcast and conference call scheduled for Wednesday, August 14, 2024, at 1:30 PM Pacific Time. The event will review the company's financial results for Q2 2024, discuss recent milestones, and include a Q&A session. Participants can join via webcast or teleconference, with replay options available until August 28 for teleconference and November 14 for webcast. This event provides an opportunity for investors and the public to gain insights into BioLargo's performance and future outlook.

BioLargo, Inc. (OTCQX:BLGO), a cleantech company, reported record quarterly revenue of $5 million for Q2 2024, a 247% increase compared to Q2 2023. The company's revenue for the first six months of 2024 grew by 88% compared to the same period in 2023. Despite the revenue growth, BioLargo recorded a net loss of $780,000 for the quarter, including $540,000 in non-cash stock option compensation expense. As of June 30, 2024, the company had $4.8 million in cash and cash equivalents, with total assets of $10.1 million and stockholder's equity of $5.9 million. CEO Dennis P. Calvert expressed confidence in the company's position to advance the commercialization of its cleantech products and services. The final quarterly report is expected to be filed by August 14, 2024, with an earnings conference call scheduled for the same day.

BioLargo, a company focused on sustainable technologies, announced its engineering subsidiary secured a subcontract to provide air quality services to two Arizona U.S. Air Force bases. This contract, worth approximately $812,000 annually, follows another recent contract for three New Mexico Air Force bases, generating an average annual revenue of $650,000. BioLargo's total monthly revenue from these contracts exceeds $100,000. The four-year prime contract ensures pricing but does not guarantee continuation. BioLargo's services include air quality regulatory compliance under the Fence-to-Fence (F2F) support contract through HLTLI Joint Venture.

BioLargo's subsidiary, Clyra Medical Technologies, has selected Keystone Industries to support the manufacturing of its medical products, specifically the Bioclynse surgical wound irrigation solution. Bioclynse is FDA 510(k) cleared, non-cytotoxic, and effective against biofilms, presenting significant benefits for patient outcomes in surgeries and dentistry. Keystone, a global manufacturer with over a century of experience, has committed significant investment in infrastructure to scale up production. Both companies have emphasized the importance of this collaboration for the successful market launch of Bioclynse.

BioLargo (OTCQX:BLGO) has successfully manufactured its first Cellinity™ 'Liquid Sodium' prototype battery cells. The Cellinity battery platform aims to provide safer, long-lasting, and environmentally friendly energy storage alternatives to lithium-ion batteries. These prototype cells will undergo testing and validation to confirm performance claims. Cellinity batteries boast several advantages: safety (no fire or explosion risk), longevity (no performance drop after thousands of cycles), high energy density, and the use of North American-sourced materials without rare-earth elements. Future plans include manufacturing full-scale prototype modules and exploring financing options, focusing on community-based partnerships.

BioLargo (OTCQX:BLGO) announced that its engineering subsidiary has secured a multi-year contract to provide air quality services to three U.S. Air Force bases in New Mexico. The contract, potentially generating $650,000 annually, spans up to five years and represents the company's largest Air Force contract to date. This new agreement adds to BioLargo's ongoing environmental support at six other Air Force bases. The contract ensures regular monthly flat fee revenue over its duration, with annual renewal options. Bhate Environmental Associates is the prime contractor under the Fence-to-Fence (F2F) support contract. BioLargo's President, Randall Moore, emphasized the importance of such long-term contracts for steady income and the commercialization of their cleantech innovations.

BioLargo (OTCQX:BLGO) reported positive operating cash flow of $481,000 and record quarterly revenues of $4,760,000 for Q1 2024, reflecting a 9% increase over Q4 2023 and a 28% increase over Q1 2023. The company's net stockholder's equity rose from $4.2 million to $5.1 million. Despite a net loss of $775,000, this represents a 32% decrease compared to the prior quarter. Significant business developments include launching a water equipment subsidiary and securing key industry leaders on its board. The U.S. EPA's new PFAS regulations could benefit BioLargo's technology. The company continues to invest in scaling up its Bioclynse product line.

BioLargo, Inc. (BLGO) will host an investor webcast and conference call on May 14, 2024, to discuss financial results for Q1 2024, recent milestones, and conduct a Q&A session. The event will be open to the public, covering sustainable technologies for environmental challenges.