IMPACT BIOMEDICAL INC.
For the period ended Jun 30, 2026. Filed Aug 7, 2026.
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.
Jun 30, 2026 · Filed Aug 7, 2026
IBO$4.10-6.8%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2026-03-31; filed 2026-05-12.
0001493152-26-022512
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2026-06-30; filed 2026-08-07.
0001493152-26-036601
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 65 previous paragraphs and 62 current paragraphs.
41 unchanged; 17 reworded; 3 added; 5 removed; 2 previous and 1 current paragraphs rearranged.
Tables are not compared: 4 previous and 5 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 (3)
Current report
Change in fair value of note payable, related party is related to the promissory note with DSS (“DSS Note”). During the fiscal year ended 2024, the Company amended the terms of its outstanding principal balance of the DSS Note. Previously, the Note required repayment solely in cash; however, pursuant to the second amendment executed which went into effect on September 16, 2024, the Company now has the option to settle the Note in either cash or shares of the Company’s common stock, subject to certain conditions. In accordance with ASC 480, Distinguishing Liabilities and Equity, and ASC 825, Financial Instruments, the Company remeasured the fair value of the DSS Note as of the modification date and again as of June 30, 2025. As a result, the Company recognized a fair value adjustment of $12,942,000 for the three and six months ended June 30, 2025. This note was settled and paid off in October 2025.
Current report
For the three and six months ended June 30, 2026 and 2025, the Company recorded decreases in net loss of 95% and 81%. The decrease in net loss is attributable to the Company’s cost is driven by the fair value adjustment to the Company’s debt with DSS recorded during 2025 offset by increases in stock based compensation approximating $1,440,000 recorded in Q1 2026..
Current report
Cash Flow from Continuing Operating Activities
Removed paragraphs (5)
Previous report
Composition and method patents are issued to the Company for Linebacker in the U.S. and other countries.
Previous report
For the three months ended March 31, 2026 and 2025, the Company incurred a net loss of $2,284,000 and $1,278,000 respectively. The increase in net loss is attributable to the stock-based compensation awarded to certain officers, directors and other employees of the Company during the first quarter of 2026 with an approximate value of $1,440,000.
Previous report
Cash Flow from Operating Activities
Previous report
Cash Flow from Financing Activities
Previous report
Net cash provided by financing activities was $482,000 for the three months ended March 31, 2026 and represents borrowings from a DSS, a related party. During the three months ended March 31, 2025 net cash provided by financing activities was $0 as no such activities took place.
Reworded paragraphs (17)
Previous wording
Impact BioLife Science, Inc. We are the sole owner of the issued and outstanding common stock of Impact BioLife Science, Inc.
Current wording
Impact BioLife Science, Inc. We are the sole owner of the outstanding equity of Impact BioLife Science, Inc.
Previous wording
Global Biomedical, Inc. We own 90.9% of Global Biomedical, Inc. issued and outstanding common stock.
Current wording
Global Biomedical, Inc. We own 90.9% of Global Biomedical, Inc. outstanding equity.
Previous wording
Global BioLife, Inc. Through our majority owned subsidiary Global Biomedical, Inc., we own 81.8% of the issued and outstanding common stock of Global BioLife, Inc.
Current wording
Global BioLife, Inc. Through our majority owned subsidiary Global Biomedical, Inc., we own 81.8% of the outstanding equity of Global BioLife, Inc.
Previous wording
Sweet Sense, Inc. We own approximately 95.5% of the issued and outstanding common stock of Sweet Sense.
Current wording
Sweet Sense, Inc. We are the owner of 95.5% of the outstanding equity of Sweet Sense.
Previous wording
Laetose has a unique composition patent allowed in the United States and other countries worldwide.
Current wording
Laetose has a unique composition patent allowed in the United States and patents are pending in other countries worldwide.
Previous wording
Selling, general and administrative compensation costs decreased 27% for the three months ended March 31, 2026, as compared to the three months ended March 31, 2025 due to reductions in pay for a certain employee of the Company as well as a reduction in bonus accruals year over year.
Current wording
Selling, general and administrative compensation costs decreased 32% and 30%, respectively for the three and six months ended June 30, 2026 and 2025, due to reductions in pay for a certain employee of the Company as well as a reduction in bonus accruals year over year.
Previous wording
Stock-based compensation includes expense charges for all stock-based awards to employees, directors, and consultants. Such awards can include option grants, warrant grants, and restricted and unrestricted stock awards
Current wording
Stock based compensation includes expense charges for all stock-based awards to employees, directors, and consultants. Such awards can include option grants, warrant grants, and restricted and unrestricted stock awards. In January 2026, the Company granted and issued 3,200,000 shares of Common Stock to various individuals including executives, board members, audit committee members, etc. The agreement included the individuals rescinding and cancelling any and all unexercised stock options previously granted. The Company recorded stock-based compensation expense of approximately $1,440,000.
Previous wording
Sales and marketing costs, which includes internet and trade publication advertising, press releases, travel and entertainment costs. These decreased 95% for the three months ended March 31, 2026, as compared to the three months ended March 31, 2025. The decrease in costs for the three months ended March 31, 2026 is due to Company efforts to reduce travel, marketing and entertainment costs.
Current wording
Sales and marketing costs, which includes internet and trade publication advertising, press releases, travel and entertainment costs. These decreased 100% and 95% for the three and six months ended June 30, 2026, as compared to the three and six months ended June 30, 2025. The decrease in cost for the three and six months ended June 30, 2025 is due to efforts to reduce cost.
Previous wording
Professional fees increased 16% for the three months ended March 31, 2026, as compared to the three months ended March 31, 2025. These costs consist primarily of consulting and legal services associated with developing and implementing Impact BioMedical’s business plan. These costs increased in 2026 as a result of due diligence in connection with potential mergers and/or acquisitions.
Current wording
Professional fees decreased 78% and 45% for the three and six months ended June 30, 2026, as compared to the three and six months ended June 30, 2025. These costs consist primarily of consulting and legal services associated with developing and implementing Impact BioMedical’s business plan as well as cost associates with the due diligence in connection with potential merger and/or acquisitions and have decreased as all other engagements of professional services have been eliminated or significantly reduced as the Company explores potential mergers and/or acquisitions.
Previous wording
Research and development represent costs consisting primarily of independent, third-party testing of the various properties of each technology the Company owns, research on new technologies as well as costs to patent newly developed technologies and other related fees for the development of new technologies. Research and development decreased 55% for the three months ended March 31, 2026, as compared to the three months ended March 31, 2025 due primarily to a decrease in spending on identifying new technologies as well as pausing the spend on several in-development technologies.
Current wording
Research and development costs represent costs consisting primarily of independent, third-party testing of the various properties of each technology the Company owns, research on new technologies as well as cost to patent newly developed technologies and other related fees for the development of new technologies. Research and development increased 1% and decreased 31% for the three and six months ended June 30, 2026, as compared to the three and six months ended June 30, 2025 due primarily to a decrease in spending on identifying new technologies as well as pausing the spend on several in-development technologies.
Previous wording
Depreciation and amortization expense increased 1% for the three months ended March 31, 2026 as compared to March 31, 2025 and represents the amortization of the associated with the developed technology and patents as well as the amortization of the Celios patents acquired during the first quarter of 2025.
Current wording
Depreciation and amortization expense decreased 1% remained flat for the three and six months ended June 30, 2026 as compared to the same periods for June 30, 2025 and represents the amortization of the associated with the developed technology and patents acquired as part of the acquisition of Impact BioMedical by DSS as well as the amortization of the Celios patents acquired during the first quarter of 2025.
Previous wording
Rent and utilities represents cost associated with office space located at 1400 Broadfield Blvd, Suite 100 Houston TX which the Company began subletting from DSS during the first quarter of 2024. These costs remained flat year over year as there were no scheduled rent increases scheduled.
Current wording
Rent and utilities represents costs associated with office space located at 1400 Broadfield Blvd, Suite 100 Houston TX which the Company began subletting from DSS during the first quarter of 2024. These costs remained flat for the three and six months ended June 30, 2026 as compared to the same periods for June 30, 2025 as there were no rent increases.
Previous wording
Other operating expenses consist primarily of office supplies, IT support, travel, third party warehousing cost, and insurance costs. These costs decreased 42% for the three months ended March 31, 2026, as compared to the three months ended March 31, 2025 due primarily to efforts by management of the Company to control such costs.
Current wording
Other operating expenses consist primarily of office supplies, IT support, travel, third party warehousing cost, and insurance costs. These costs decreased 43% and 42% for the three and six months ended June 30, 2026, as compared to the three and six months ended June 30, 2025 due primarily to efforts by management of the Company to control such costs.
Previous wording
Interest income is recognized on the Company’s notes receivable. Although payments are being received in accordance with the note receivable terms, interest income increased for three months ended March 31, 2026 as compared to March 31, 2025 as the outstanding principal balance increased slightly.
Current wording
Interest income is recognized on the Company’s notes receivable. Interest income was relatively flat for three and six months ended June 30, 2026 as compared to the same periods for June 30, 2025 as the outstanding principal balance remained flat.
Previous wording
Interest expense is recognized on the Company’s debt to DSS. Interest expense decreased 100% for the three ended March 31, 2026 as compared to March 31, 2025, due to the settlement and payoff of the outstanding debt in October 2025.
Current wording
Interest expense is recognized on the Company’s debt to DSS. Interest expense increased 33% and 0% for the three and six months ended June 30, 2026 as compared to June 30, 2025, due to the settlement and payoff of the outstanding debt in October 2025.
Previous wording
Net cash used by operating activities was $464,000 for the three months ended March 31, 2026 as compared to cash used by operating activities of $682,000 for the three months ended March 31, 2025. This fluctuation is driven by less payments of accounts payable by approximately $125,000 as well as an improvement of adjustments to reconcile loss from operations to net cash used by operating activities of approximately $134,000.
Current wording
Net cash provided by operating activities was $6,000 for the six months ended June 30, 2026 as compared to cash used by operating activities of $1,376,000 for the six months ended June 30, 2025. This fluctuation is driven by less payments of the Company’s accounts payable by approximately $279,000, amounts due to related party of approximately $709,000, as well as decrease in net loss after reconciling items of approximately $419,000
Previous wording
Net cash used by investing activities was $1,000 for the three months ended March 31, 2026, as compared to net cash provided by investing activities was $1,000 for the three months ended March 31, 2025, and represents activity on the Company’s notes receivable.
Current wording
Net cash provided by investing activities was $1,000 and $1,000 for the six months ended June 30, 2026 and June 30, 2025, respectively. This activity is due to payments received on notes receivable during 2026 and 2025.
Rearranged current paragraphs (1)
Current report — wording carried from elsewhere
Costs of revenue includes all direct costs of the Company’s retail sales of its Celios air purification technology. It includes online and third party distributor sales and consists of materials, third party warehousing, and transportation costs. This asset was acquired during the first quarter of 2025.
Rearranged previous paragraphs (2)
Previous report — wording carried elsewhere
In addition to our existing efforts, we continually search and evaluate other potential new offerings to add to our portfolio.
Previous report — wording carried elsewhere
These activities include discussions with potential companies/technologies which, subject to completion of diligence, and approval of the respective management boards, could potentially expand the offerings of Impact Biomedical Inc. There is no assurance that anyone, or all, of these will result in a material transaction and this is exemplary of consistent and ongoing search and discovery efforts within Impact Biomedical Inc.