BioLargo 2020 Annual Meeting of Stockholders Highlights
To our stockholders and followers,
Recording of July 23rd virtual meeting available for review online
Westminster, CA - July 27, 2020 - BioLargo, Inc. (OTCQB:BLGO), developer of sustainable technologies and a full-service environmental engineering company, announced today that a recording of its Annual Meeting of Stockholders, held July 23, 2020, has been posted online. Due to the ongoing COVID-19 pandemic and orders of the State of California, the meeting was held as a virtual-only event, with stockholders tuning in from around the country.
The recording of BioLargo's 2020 Stockholder Meeting is hosted online at https://www.webcaster4.com/Player/Index?webcastId=35853&g=229aabea-5754-4cd3-b0bb-8b4230e127a1&uid=5944988&sid=
Some highlights from this year's Stockholder Meeting include:
Clyra Medical announced the official release of its Clyraguard Disinfecting Personal Protective Spray (www.clyramedical.com/clyraguard), proven to eliminate the SARS COVID-19 virus from face masks and other protective gear, and a new Clyra's distribution partner that serves 80% of U.S. hospitals. Multiple authorized resellers are engaged, and more information will be available as the launch continues.
BioLargo Engineering's per- and polyfluoroalkyl substance (PFAS) water treatment technology (BioLargo AEC) is being prepared for its first pilots and commercial trials (with next 3-4 months). PFAS chemicals contaminate drinking water around the world, and in 2020 the EPA announced its intent to aggressively address the problem.
BioLargo has made improvements to its balance sheet. The company converted $1.1M of debt into equity in 2020 so far, with another $1.9M expected to be converted in third quarter.
BioLargo currently has $1.7M cash-on-hand, and secured approximately $400K in PPP loans, with its subsidiary ONM Environmental having also secured $150K in SBA 30-year loans.
BioLargo Water has secured public funding to support the first commercial trial and installation for its disruptive AOS water treatment technology.
BioLargo Engineering's client base continues to expand with significant projects, creating a substantial project backlog.
ONM Environmental's capital projects that were on hold are now returning, and this subsidiary is expected to resume its pre-COVID growth trajectory.
The company is aggressively preparing its CupriDyne iodine complex technology for an EPA registration through either an accelerated filing or a conventional filing, with an opportunity to bring to market a high-performance, low-dose disinfectant featuring the company's safe and eco-friendly formula.
More details on each of these topics is available in the recorded presentation in the link above.
BioLargo President & CEO Dennis P. Calvert commented, "One thing that is unique and special about BioLargo is the capacity for our talented business units to collaborate and leverage synergy for development and commercialization of our products and services. We are well positioned for explosive top line revenue growth and are anxious to prove it with results."
Dennis P. Calvert
Forward Looking Statement Disclaimer-The statements contained herein, which are not historical,
are forward looking statements that are subject to risks and uncertainties that could cause actual results
to differ materially from those expressed in the forward-looking statements, including, but not limited
to, the risks and uncertainties included in BioLargo's current and future filings with the Securities and Exchange Commission, including those set forth in BioLargo's Annual Report on Form 10-K for the year
ended December 31, 2015.
BioLargo, Inc. is an innovative technology developer and environmental engineering company driven by a mission to "make life better" by delivering robust, sustainable solutions for a broad range of industries and application