IMPACT BIOMEDICAL INC.
For the period ended Sep 30, 2025. Filed Nov 7, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 7, 2025
IBO$4.62+6.7%Stored close · as of Nov 10, 2026
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Item 1. Condensed Consolidated Balance Sheets as of September 30, 2025 (Unaudited) and December 31, 2024
Impact BioMedical, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
| September 30, 2025 (unaudited) | December 31, 2024 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $12,000 | $1,999,000 |
| Accounts receivable | 15,000 | - |
| Inventory | 485,000 | - |
| Current portion of notes receivable | 199,000 | 184,000 |
| Prepaid expenses and other current assets | 206,000 | 265,000 |
| Total current assets | 917,000 | 2,448,000 |
| Property, plant and equipment, net | 13,000 | 17,000 |
| Notes receivable | - | 17,000 |
| Other intangible assets, net | 17,278,000 | 17,808,000 |
| Total assets | $18,208,000 | $20,290,000 |
| LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY | ||
| Current liabilities: | ||
| Accounts payable | $576,000 | $713,000 |
| Accrued expenses | 336,000 | 194,000 |
| Note payable, related party | 22,881,000 | 8,878,000 |
| Total current liabilities | 23,793,000 | 9,785,000 |
| Deferred tax liability, net | 3,268,000 | 3,268,000 |
| Total liabilities | 27,061,000 | 13,053,000 |
| Commitments and contingencies (Note 12) | - | - |
| Stockholders’ (deficit) equity | ||
| Preferred stock, $0.001 par value; 100,000,000 shares authorized, 60,496,041 shares issued and outstanding (60,496,041 on December 31, 2024); Liquidation value $0.001 per share, 60,496,041 aggregate. 60,496,041 on December 31, 2024). | 60,000 | 60,000 |
| Common stock, $0.001 par value; 4,000,000,000 shares authorized, 12,185,412 shares issued and outstanding (11,503,955 on December 31, 2024) | 12,000 | 11,000 |
| Additional paid-in capital | 42,871,000 | 41,857,000 |
| Accumulated deficit | (54,752,000) | (37,669,000) |
| Total stockholders’ (deficit) equity of the Company | (11,809,000) | 4,259,000 |
| Non-controlling interest in subsidiaries | 2,956,000 | 2,978,000 |
| Total stockholders’ (deficit) equity | (8,853,000) | 7,237,000 |
| Total liabilities and stockholders’ (deficit) equity | $18,208,000 | $20,290,000 |
Condensed Consolidated Statements of Operations
| For the Three Months Ended September 30, · For the Nine Months Ended September 30, | ||||||
|---|---|---|---|---|---|---|
| 2025 · 2024 · 2025 · 2024 | ||||||
| Revenue: | ||||||
| Biotech retail sales | $18,000 | $ | - | $25,000 | $ | - |
| Total revenue | 18,000 | - | 25,000 | - | ||
| Costs and expenses: | ||||||
| Cost of revenue | 1,000 | - | 2,000 | - | ||
| Sales, general and administrative compensation (inclusive of stock-based compensation) | 261,000 | 132,000 | 755,000 | 424,000 | ||
| Sales and marketing | 2,000 | 461,000 | 22,000 | 487,000 | ||
| Professional Fees | 234,000 | 122,000 | 868,000 | 313,000 | ||
| Research and development | 52,000 | 82,000 | 230,000 | 386,000 | ||
| Depreciation and Amortization | 288,000 | 281,000 | 859,000 | 840,000 | ||
| Rent and utilities | 19,000 | 4,000 | 56,000 | 14,000 | ||
| Other operating expenses | 109,000 | 45,000 | 345,000 | 58,000 | ||
| Total costs and expenses | 966,000 | 1,127,000 | 3,137,000 | 2,522,000 | ||
| Operating loss | (948,000) | (1,127,000) | (3,112,000) | (2,522,000) | ||
| Other income (expense): | ||||||
| Interest income | 3,000 | 3,000 | 10,000 | 10,000 | ||
| Change in fair value of note payable, related party | (268,000) | 5,670,000 | (13,210,000) | 5,670,000 | ||
| Interest expense | (262,000) | (305,000) | (793,000) | (795,000) | ||
| (Loss) income from operations before income taxes | (1,475,000) | 4,241,000 | (17,105,000) | 2,363,000 | ||
| Income tax benefit | - | - | - | - | ||
| Net (loss) income | $(1,475,000) | $4,241,000 | $(17,105,000) | $2,363,000 | ||
| Loss from operations attributed to noncontrolling interest | 5,000 | 6,000 | 22,000 | 37,000 | ||
| Net (loss) income attributable to common stockholders | $(1,470,000) | $4,247,000 | $(17,083,000) | $2,400,000 | ||
| (Loss) earnings per common share: | ||||||
| Basic | $(0.12) | $0.37 | $(1.41) | $0.23 | ||
| Diluted | $(0.12) | $0.06 | $(1.41) | $0.03 | ||
| Shares used in computing (loss) earnings per common share: | ||||||
| Basic | 12,185,412 | 11,503,955 | 12,144,972 | 10,506,394 | ||
| Diluted | 12,185,412 | 71,999,996 | 12,144,972 | 71,002,435 | ||
Condensed Consolidated Statements of Stockholders’ (Deficit) Equity
| Common Stock · Preferred Stock · Additional Paid-in · Accumulated · Total Impact · Non- controlling Interest in | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Shares | Amount | Shares | Amount | Capital | Deficit | Equity | Subsidiary | Total | |
| Balance, December 31, 2023 | 10,000,000 | $10,000 | 60,496,041 | $60,000 | $38,113,000 | $(12,961,000) | $25,222,000 | 3,040,000 | $28,262,000 |
| - | |||||||||
| Issuance of common stock, net of expenses | 1,500,000 | 1,000 | - | - | 3,725,000 | - | 3,726,000 | - | 3,726,000 |
| Fractional shares as a result of reverse stock split | 3,955 | - | - | - | - | - | - | - | - |
| Net (loss) income | - | - | - | - | - | 2,400,000 | 2,400,000 | (37,000) | 2,363,000 |
| Balance, September 30, 2024 | 11,503,955 | $11,000 | 60,496,041 | $60,000 | $41,838,000 | $(10,561,000) | $31,348,000 | $3,003,000 | $34,351,000 |
| Balance, December 31, 2024 | 11,503,955 | $11,000 | 60,496,041 | $60,000 | $41,857,000 | $(37,669,000) | $4,259,000 | $2,978,000 | $7,237,000 |
| Acquisition of DSS PureAir assets | 545,024 | 1,000 | - | - | 819,000 | - | 820,000 | 820,000 | |
| Stock based compensation | - | - | - | - | 5,000 | - | 5,000 | - | 5,000 |
| Stock based payments for professional services rendered | 136,433 | - | - | - | 190,000 | - | 190,000 | - | 190,000 |
| Net loss | - | - | - | - | - | (17,083,000) | (17,083,000) | (22,000) | (17,105,000) |
| Balance, September 30, 2025 | 12,185,412 | $12,000 | 60,496,041 | $60,000 | $42,871,000 | $(54,752,000) | $(11,809,000) | $2,956,000 | $(8,853,000) |
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