AQUABOUNTY TECHNOLOGIES INC
For the period ended Sep 30, 2026. Filed Nov 6, 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.
Sep 30, 2026 · Filed Nov 6, 2026
AQB$0.98+3.0%Stored close · as of Nov 6, 2026
What changed in Risk Factors?
Read the current filingPrevious report: 10-Q
Period ended 2026-06-30; filed 2026-08-06.
0001603978-26-000084
Item 1A. Risk FactorsCurrent report: 10-Q
Period ended 2026-09-30; filed 2026-11-06.
0001603978-26-000113
Item 1A. Risk FactorsThe 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 20 previous paragraphs and 23 current paragraphs.
13 unchanged; 4 reworded; 6 added; 3 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 0 previous and 0 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 (6)
Current report
JobsOhio has demanded that we repay a $1.0 million economic development grant.
Current report
In August 2021, AquaBounty Farms Ohio LLC, a subsidiary of the Company, entered into a grant agreement with JobsOhio (the “Grant Agreement”) and received a $1,000,000 economic development grant in connection with the Ohio Farm Project. Under the Grant Agreement, we committed to create 112 jobs with associated payroll of approximately $5.4 million and to make approximately $222.1 million in fixed asset investments by December 31, 2026, and to maintain those commitments through December 31, 2028.
Current report
Construction of the Ohio Farm Project was paused in June 2023, we have been selling equipment assets and we have reduced our headcount to three employees. On September 21, 2026, JobsOhio notified us that our sale of equipment and consideration of acquisition offers for the Ohio Farm Project property constitute a breach of the Grant Agreement and demanded repayment of the full $1,000,000 of grant funds. We responded to JobsOhio on October 6, 2026 and provided additional information. On October 23, 2026, JobsOhio informed us that it had decided to uphold its demand for repayment of the full $1,000,000 and requested payment by November 22, 2026. JobsOhio indicated that, absent payment, it may refer the matter for collection and pursue the remedies available under the Grant Agreement.
Current report
We are evaluating our response, which may include discussing repayment options with JobsOhio, although there can be no assurance that JobsOhio will agree to any payment schedule or other accommodation. Repayment of the grant would reduce our available cash resources and could adversely affect our liquidity, financial condition and ability to fund our operations and pursue our strategic review of the Ohio Farm Project. In addition, any collection or legal action by JobsOhio could result in additional costs and management distraction.
Current report
Changes in the political and regulatory environment could adversely affect the potential development or value of the Ohio Farm Site.
Current report
As part of our expanded strategic review, we may seek to sell, lease, jointly develop or otherwise utilize the Ohio Farm Site in Pioneer, Ohio for data center or related power infrastructure development. Data center development has been subject to increasing federal, state and local scrutiny, including with respect to zoning and land use, permitting, access to electrical power, water use, infrastructure requirements and related costs, and government authorities have considered or implemented moratoria and other restrictions on new data center development. Changes in the composition or policy priorities of federal, state or local governments following the 2026 midterm elections could result in new or more restrictive laws, regulations or policies affecting data center development, which could delay, limit or prevent development of our property, increase development costs, reduce demand from potential purchasers, tenants or development partners, or otherwise adversely affect the value of our property and our ability to realize the anticipated benefits of any potential data center development.
Removed paragraphs (3)
Previous report
The issuance of convertible preferred stock may adversely affect our liquidity, governance, and the rights of holders of our common stock.
Previous report
On April 7, 2026, we issued shares of Series A Convertible Preferred Stock in a private placement, including in exchange for outstanding indebtedness. On June 25, 2026, we issued shares of Series B Convertible Preferred Stock in a private placement. Both series of preferred stock have rights senior to our Common Stock, including cumulative dividends, a senior liquidation preference, redemption rights in certain circumstances, and conversion rights into Common Stock. Dividends accrue cumulatively at a high rate and are payable only if declared by our Board of Directors out of legally available funds, and unpaid dividends continue to accrue, increasing our obligations and potentially exacerbating our liquidity constraints.
Previous report
The conversion of the Series A Convertible Preferred Stock or Series B Preferred Stock could result in significant dilution to holders of our Common Stock and may adversely affect the trading price of shares of our Common Stock. In addition, both series of preferred stock include protective provisions requiring preferred stockholder approval for certain corporate actions, which may limit our operational and financing flexibility. In a liquidation, insolvency, or change of control, holders of shares of Common Stock may receive little or no value after satisfaction of creditor claims and the preferred stock liquidation preference.
Reworded paragraphs (4)
Previous wording
In the period from incorporation to June 30, 2026, we have incurred cumulative net losses of approximately $391 million, and we expect to incur additional net losses in future periods. These losses were related to our personnel, research and development, production and marketing costs. As of June 30, 2026, we had $1.9 million in cash and cash equivalents.
Current wording
In the period from incorporation to September 30, 2026, we have incurred cumulative net losses of approximately $393 million, and we expect to incur additional net losses in future periods. These losses were related to our personnel, research and development, production and marketing costs. As of September 30, 2026, we had $122 thousand in cash and cash equivalents.
Previous wording
Our expansion of the strategic review to include power infrastructure and energy development opportunities may not result in any transaction, and any such transaction or business would expose us to significant execution, regulatory, and financing risks.
Current wording
The expansion of our strategic review to include power infrastructure and energy development opportunities may not result in any transaction, and any such transaction or business would expose us to significant execution, regulatory, and financing risks.
Previous wording
As of August 4, 2026, the market value of our listed securities was less than $5 million. If the MVLS Requirement becomes effective and we are unable to maintain compliance with that requirement or other applicable Nasdaq continued listing standards, we could become subject to suspension of trading and delisting from Nasdaq.
Current wording
As of November 4, 2026, the market value of our listed securities was greater than $5 million. If the MVLS Requirement becomes effective and we are unable to maintain compliance with that requirement or other applicable Nasdaq continued listing standards, we could become subject to suspension of trading and delisting from Nasdaq.
Previous wording
We have also experienced periods of negative stockholders’ equity, as reflected in our financial statements included in this Quarterly Report on Form 10-Q, and any failure to maintain positive stockholders’ equity could further increase the risk that our common stock fails to meet Nasdaq’s continued listing standards, which could result in our suspension and delisting from Nasdaq.
Current wording
We have also experienced periods of negative stockholders’ equity, as reflected in our financial statements included in this Quarterly Report on Form 10-Q. Nasdaq's continued listing standards for the Nasdaq Capital Market require, among other things, stockholders' equity of at least $2.5 million, unless an alternative market value or net income standard is met. As of September 30, 2026, our stockholders' equity was approximately $1.0 million, which is below this requirement. Continued net losses, any repayment of or liability recorded for the JobsOhio grant, or further impairment of the Ohio Farm Project could further reduce our stockholders' equity, and any failure to maintain positive stockholders’ equity could further increase the risk that our common stock fails to meet Nasdaq’s continued listing standards, which could result in our suspension and delisting from Nasdaq.