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Note 13 - Subsequent Events
3 Months Ended
Mar. 31, 2023
Notes to Financial Statements  
Subsequent Events [Text Block]

Note 13. Subsequent Events.

 

Management has evaluated subsequent events through the date of the filing of this quarterly report and management noted the following for disclosure.

 

Lincoln Park Capital Purchase of Shares

 

From April 1, 2023, through May 12, 2023, we sold 567,713 shares of common stock to Lincoln Park pursuant to the 2022 LPC Purchase Agreement (see Note 3) and received $101,000 in gross and net proceeds. These sales were registered with the SEC on Form S-1 (file number 333-268973).

 

Clyra Medical Series A Preferred

 

From April 1, 2023, through May 12, 2023, Clyra Medical sold 401 shares of its Series A Preferred Stock, and in exchange received $124,000 in gross and net proceeds. Purchasers of the Series A Preferred Stock also received a 3-year warrant to purchase the same number of additional shares of common stock for $372 per share. Each investor also entered into an agreement with BioLargo whereby the investor may exchange some or all of its Series A Preferred stock, plus accrued dividends, into shares of BioLargo common stock, at a price equal to a 20% discount of the volume weighted average price over the 30 prior trading days. (See Note 8, “Sales of Series A Preferred Stock”.)