Balance Labs, Inc.
For the period ended Sep 30, 2025. Filed Nov 13, 2025.
View on SEC.govAbout this filing
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 13, 2025
BLNCStored price and day change unavailable
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-06-30; filed 2025-08-14.
0001641172-25-023738
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2025-09-30; filed 2025-11-13.
0001493152-25-022345
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 64 previous paragraphs and 62 current paragraphs.
42 unchanged; 9 reworded; 11 added; 11 removed; 2 previous and 0 current paragraphs rearranged.
Tables are not compared: 2 previous and 4 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (11)
Current report
Balance Labs, Inc. operates as a digital asset corporate treasury company. Our principal business is acquiring, holding, and managing a diversified portfolio of digital assets, primarily liquid, large-capitalization cryptocurrencies. Where feasible, we intend to generate yield through staking, validator participation, or other on-chain activities.
Current report
Over the next twelve months, we plan to:
Current report
We do not currently generate operating revenues and do not expect material revenues until our treasury scale supports consistent yield activities. Operating expenses consist primarily of custody fees, professional services, compliance costs, and general overhead
Current report
We may require additional capital to grow our digital asset holdings or fund operations. Such capital, if pursued, may be raised through equity, debt, or digital asset-backed instruments, subject to market conditions. There can be no assurance that financing will be available on acceptable terms, or at all.
Current report
We reported a net loss of $3,594,664 and of $192,837 for the three months ended September 30, 2025 and 2024, respectively. This represents an increase of $3,396,827, or 1,716%, primarily due to expenses related to the issuance of stock to CEO Alan Campbell and the expense related to the recognition of a derivative liability from the ant-dilution provision in Mr. Campbell’s employment agreement.
Current report
General and administrative expenses were $4,320 and $4,557 for the three months ended September 30, 2025 and 2024, respectively, a decrease of $237 or 5%.
Current report
Professional fees were $23,975 and $32,293 for the three months ended September 30, 2025 and 2024, respectively, a decrease of $8,318 or 26% due primarily to a decrease in accounting fees.
Current report
We reported a net loss of $3,747,212 and of $410,480 for the nine months ended September 30, 2025 and 2024, respectively. This represents an increase of $3,336,732 or 1,731%, primarily due to expenses related to the issuance of stock to CEO Alan Campbell and the expense related to the recognition of a derivative liability from the ant-dilution provision in Mr. Campbell’s employment agreement.
Current report
Recent Developments
Current report
On August 22, 2025, the Company appointed Alan Campbell as its Chief Executive Officer, effective immediately, succeeding Michael D. Farkas, who continues to serve as Chairman of the Board and President. Mr. Campbell brings more than 20 years of experience in financial-data and index-management businesses, having served in senior leadership roles at CoinDesk Indices and Bloomberg L.P.
Current report
In connection with his appointment, the Company and Mr. Campbell entered into a CEO Employment Agreement providing for, among other terms, (i) an annual base salary of $350,000 (subject to activation following a capital raise or 75 days from appointment), (ii) a target annual performance bonus of 65% of base salary, and (iii) a one-time equity award equal to 3.6% of the Company’s outstanding shares of common stock, vesting in equal annual installments over three years.
Removed paragraphs (11)
Previous report
Our plan is to prepare our clients for the many inevitable challenges they will encounter and to develop a customized strategy that allows them to navigate these obstacles efficiently. This approach ensures that our clients can focus on scaling their businesses and marketing their products and services to their potential customers. Additionally, as our clients plan for an IPO, we help them align their operations, financial reporting, and compliance measures to meet the rigorous demands of public market investors, ensuring they are well-prepared for the complexities of going public.
Previous report
Although we’ve only worked with three clients since inception, our goal is to add and service a minimum of two to three new clients between now and the end of 2025. We’re marketing our services through both personal contact and online by (a) mining our existing network of professional contacts via personal outreach programs, which will also target international prospects that may wish to enter the US market; (b) expanding our network by attending targeted conferences and professional gatherings; and (c) utilizing our website at www.balancelabs.co, plus engaging potential clients on social media, including LinkedIn, Facebook and Twitter. However, because we have a limited budget allocated for an on-line marketing campaign, we anticipate that professionals within our professional network and personal referrals from companies that are satisfied with our professional services are likely to be our most significant and efficient near-term form of marketing.
Previous report
We believe that we can support our clients with our existing full-time staff, supplemented with part-time sub-contracted professionals and service providers, as necessary. Between now and the end of 2025, we intend to formalize our relationships with these subcontractors so that we can offer our clients turn-key business development products and services.
Previous report
Our primary requirement for funding is for working capital in order to accommodate temporary negative cash flows from operations (see “Liquidity and Capital Resources”).
Previous report
We reported a net loss of $146,142 and of $42,829 for the three months ended June 30, 2025 and 2024, respectively. This represents an increase of $110,537, or 241%, primarily due to an increase in professional fees and an unrealized loss of $10,363 on available for sale securities during the three months ended June 30, 2025, as compared to an unrealized gain of $14,083 in the same period for 2024.
Previous report
General and administrative expenses were $5,845 and $3,181 for the three months ended June 30, 2025 and 2024, respectively, an increase of $2,664 or 84% primarily due to an increase in bank service charges and corporate state franchise taxes.
Previous report
Professional fees were $26,681 and $8,545 for the three months ended June 30, 2025 and 2024, respectively, an increase of $18,136 or 212% due primarily to an increase in legal fees.
Previous report
We reported a net loss of $152,548 and of $217,653 for the six months ended June 30, 2025 and 2024, respectively. This represents a decrease of $65,103, or 30%, primarily due a gain on settlement to the cancellation of an accounts payable balance by one of the company’s professional services vendors during the six months ending June 30, 2025.
Previous report
● More detailed disclosures regarding significant segment expenses.
Previous report
● Alignment of segment reporting requirements with the information regularly reviewed by management.
Previous report
● The Company adopted ASU 2023-07 effective January 1, 2024.
Reworded paragraphs (9)
Previous wording
Unrealized loss on available for sale securities for the three months ended June 30, 2025 was $10,363. Unrealized gain on available for sale securities for the three months ended June 30, 2024 was $14,083. This represents an increase to unrealized loss on available for sale securities of $24,445 attributable to changes in the stock price of the securities than in prior periods.
Current wording
Other expenses for the three months ended September 30, 2025 was $3,383,530. Other expenses for the three months ended September 30, 2024 was $109,149 due to an unrealized loss of $24,978 on available for sale securities during the three months ended September 30, 2025, as compared to an unrealized loss of $47,746 in the same period for 2024. This represents a decrease in unrealized loss on available for sale securities of $23,301 attributable to changes in the stock price of the securities than in prior periods. Additionally, the Company realized a loss on derivative of 3,425,796 and a $128,101 gain on change in derivative liability.
Previous wording
Six Months Ended June 30, 2025 Compared with Six Months Ended June 30, 2024.
Current wording
Nine Months Ended September 30, 2025 Compared with Nine Months Ended September 30, 2024.
Previous wording
General and administrative expenses were $10,107 and $7,222 for the six months ended June 30, 2025 and 2024, respectively, an increase of $2,885 or 40% primarily due to an increase in dues and subscriptions.
Current wording
General and administrative expenses were $14,427 and $11,779 for the nine months ended September 30, 2025 and 2024, respectively, an increase of $2,648 or 22% primarily due to an increase in dues and subscriptions.
Previous wording
Professional fees were $51,716 and $24,545 for the six months ended June 30, 2025 and 2024, respectively, an increase of $27,171 or 111% due to an increase in legal and accounting fees.
Current wording
Professional fees were $75,691 and $56,838 for the nine months ended September 30, 2025 and 2024, respectively, an increase of $18,853 or 33% due to an increase in legal and accounting fees.
Previous wording
Other income for the six months ended June 30, 2025 was $5,550, as compared to other expense for the six months ended June 30, 2024 of $94,054.
Current wording
Other income for the nine months ended September 30, 2025 was $3,377,980, as compared to other expense for the nine months ended September 30, 2024 of $203,204. This change is primarily attributable to the settlement of accounts payable, a loss on derivative and a gain on change in derivative liability.
Previous wording
Unrealized loss on available for sale securities for the six months ended June 30, 2025 was $8,769. Unrealized gain on available for sale securities for the six months ended June 30, 2024 was $19,770. This represents an increase in unrealized loss on available for sale securities of $28,539 attributable to changes in the stock price of the securities.
Current wording
Unrealized loss on available for sale securities for the nine months ended September 30, 2025 was $33,747. Unrealized loss on available for sale securities for the nine months ended September 30, 2024 was $27,976. This represents an increase in unrealized loss on available for sale securities of $5,771 attributable to changes in the stock price of the securities.
Previous wording
Except for the monthly consulting fee to our CEO and Chairman of the Board and the monthly lease of our virtual office, as described elsewhere in this annual report, we currently do not have any material commitments for capital expenditures. We are actively pursuing new client relationships. Even if we were to add a new client(s), due to our current lack of a diversified client base, there could be temporary imbalances between cash receipts and cash operating expenditures, which means that we may need additional capital. The engagement revenues associated with most client engagements will self-fund the in-house and sub-contractor services we need in order to supply products and services to our clients.
Current wording
Except for the monthly consulting fee to our President and Chairman of the Board and the monthly lease of our virtual office, as described elsewhere in this annual report, we currently do not have any material commitments for capital expenditures. We are actively pursuing new client relationships. Even if we were to add a new client(s), due to our current lack of a diversified client base, there could be temporary imbalances between cash receipts and cash operating expenditures, which means that we may need additional capital. The engagement revenues associated with most client engagements will self-fund the in-house and sub-contractor services we need in order to supply products and services to our clients.
Previous wording
As of June 30, 2025, the Company had a working capital deficiency of $5,223,654. The Company used cash in operations of $57,574. In addition, the Company is working to manage its current liabilities while it continues to make changes in operations to further improve its cash flow and liquidity position.
Current wording
As of September 30, 2025, the Company had a working capital deficiency of $8,675,685. The Company used cash in operations of $236,121. In addition, the Company is working to manage its current liabilities while it continues to make changes in operations to further improve its cash flow and liquidity position.
Previous wording
We experienced negative cash flows from operating activities for the six months ended June 30, 2025 and 2024, in the amount of $57,574 and $69,015, respectively. This was primarily due to a net loss of $152,548 and a change in accounts payable and accrued expenses of $86,205.
Current wording
We experienced negative cash flows from operating activities for the nine months ended September 30, 2025 and 2024, in the amount of $93,487 and $112,402, respectively. This was primarily due to a net loss of $3,747,212, largely offset by a loss on derivative of $3,425,796 partially offset by a gain on change in derivative liability of $(128,101) due to remeasurement during the period.
Rearranged previous paragraphs (2)
Previous report — wording carried elsewhere
Other expenses for the three months ended June 30, 2025 was $66,883. Other expenses for the three months ended June 30, 2024 was $42,829 due to an unrealized loss of $10,363 on available for sale securities during the three months ended June 30, 2025, as compared to an unrealized gain of $14,083 in the same period for 2024.
Previous report — wording carried elsewhere
Unrealized gain or loss on available for sale securities