BioLargo, Inc. (OTCQB:BLGO), a developer of sustainable cleantech technologies and full-service environmental engineering company, filed its Quarterly Report on Form 10-Q for the period ended March 31, 2022, with the SEC yesterday (www.biolargo.com/sec-filings). Here the company has provided highlights from the report as well as commentary on the company's strategy for growth.
"BioLargo is at a turning point," said the company's President and CEO, Dennis P. Calvert. "After investing years and millions of dollars into R&D for our innovative technologies, in this quarter we generated record revenues, our subsidiary ONM Environmental turned an operating profit, and our engineering subsidiary ended the quarter just shy of profitability. Although we have solidified our reputation as a trusted and credible cleantech solutions provider thanks to our commitment to creating best-in-class sustainable technologies and our growing roster of talented engineers and scientists, we still must work hard to continue to achieve these results in the long term. Now we are capitalizing on these assets in a way we believe will create significant value for our company and stockholders."
The company is holding an investor webcast on Thursday, May 19, 2022, at 1:00 pm Pacific / 4:00 pm Eastern, at the following link, open to the public: https://www.webcaster4.com/Webcast/Page/2448/45648
Financial highlights
Please see management's discussion and analysis of the company's results of operations in its most recent Form 10-Q filed with the SEC on May 16, 2022, and the Risk Factors section in the company's Form 10-K filed with the SEC on March 31, 2022, for more information.
Commercial and developmental highlights
BioLargo CEO Dennis P. Calvert added, "In many ways, the hardest work is done: inventing, developing, and commercially validating our innovations. Now, we have multiple channel partnerships already contracted and executing as planned to foster expanded revenue growth. We believe that as this strategy matures and expands, our commercial business units will have the potential to generate positive cash flow on a segment basis, and ultimately, positive cash flow for the company as a whole. We are very excited about the Garratt-Callahan project going commercial and our PFAS solution heading into its first projects. The response from the market has been extremely validating for both of these projects."
About BioLargo, Inc.
BioLargo, Inc. (OTCQB:BLGO) invents, develops, and commercializes innovative technologies in the cleantech space, including for PFAS contamination, advanced water and wastewater treatment, industrial odor and VOC control, air quality control, and infection control. With over 13 years of extensive R&D, BioLargo holds a wide array of issued patents, maintains a robust pipeline of products, and provides full-service environmental engineering. Our approach is to invent or acquire novel technologies and develop them to maturity through our operating subsidiaries. We have developed a number of key channel partnerships to support the reach of our products and services and maximize their commercial potential. With a keen emphasis on collaborations with academic, municipal, and commercial organizations and associations, BioLargo has proven itself with over 80 awarded grants and numerous pilot projects. We monetize through direct sales, recurring service contracts, licensing agreements, strategic joint venture formation and/or the sale of the IP. See our website at www.BioLargo.com.
Contact Information
Dennis P. Calvert
President and CEO, BioLargo, Inc.
888-400-2863
Safe Harbor Act
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include without limitation those about BioLargo's (the "Company") expectations regarding anticipated revenue and plans for future operations, and may be identified by words such as "we believe". These statements involve risks and uncertainties, and actual results may differ materially from any future results expressed or implied by the forward-looking statements. Risks and uncertainties include without limitation: the effect of the COVID-19 pandemic on the Company's business, results of operations, financial condition, and stock price; the effect of global and regional economic conditions on the Company's business, including effects on purchasing decisions by consumers and businesses; the ability of the Company to compete in markets that are highly competitive and subject to rapid technological change; the ability of the Company to manage frequent introductions and transitions of products and services, including delivering to the marketplace, and stimulating customer demand for, new products, services, and technological innovations on a timely basis; the dependency of the Company on the performance of distributors of the Company's products. More information on these risks and other potential factors that could affect the Company's business and financial results is included in the Company's filings with the SEC, including in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.
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