Recording of July 23rd virtual meeting available for review online
WESTMINSTER, CA / ACCESSWIRE / 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.'
About BioLargo, Inc.
BioLargo, Inc. is an innovator of technology-based products and environmental engineering solutions provider driven by a mission to 'make life better'. We feature unique disruptive solutions to deliver clean air, clean water and a clean, safe environment (www.biolargo.com). Our engineering division features experienced professional engineers dedicated to integrity, reliability, and environmental stewardship (www.biolargoengineering.com). Our industrial odor control division, ONM Environmental, Inc. (www.onmenvironmental.com) features CupriDyne Clean Industrial Odor Eliminator (www.cupridyne.com), which eliminates the odor-causing compounds and VOCs rather than masking them, and is now winning over leading companies in the solid waste handling and wastewater industries and other industries that contend with malodors and VOCs. Our subsidiary BioLargo Water (www.biolargowater.ca) develops the Advanced Oxidation System 'AOS,' a disruptive industrial water treatment technology designed to eliminate waterborne pathogens and recalcitrant contaminants with better energy-efficiency and lower operational costs than incumbent technologies. We are a minority stockholder of and technology licensor to our subsidiary Clyra Medical which features its breakthrough product Clyraguard ( www.clyramedical.com/clyraguard), an FDA Registered, hospital grade disinfectant for personal protective equipment including facemasks, proven 99.999% effective and safe for skin, as well as its other products offering gentle solutions for chronic infected wounds to promote infection control and regenerative tissue therapy.
Dennis P. Calvert
President and CEO, BioLargo, Inc.
Safe Harbor Act
During the course of the stockholder presentation, BioLargo may make 'forward-looking statements' within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995, regarding future events or the future financial performance of the company that are subject to change. Actual results may differ from expectations, estimates and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as 'expect,' 'estimate,' 'project,' 'budget,' 'forecast,' 'anticipate,' 'intend,' 'plan,' 'may,' 'will,' 'could,' 'should,' 'believes,' 'predicts,' 'potential,' 'continue,' and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results.
SOURCE: BioLargo, Inc.
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