Note 11 - Business Segment Information

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

Note

11.

Business Segment Information

BioLargo currently has

four

operating business segments, plus its corporate entity which is responsible for general corporate operations, including administrative functions, finance, human resources, marketing, legal, etc. The

four

operational business segments are:

1. Odor- No -More -- which is selling odor and volatile organic control products and services (located in Westminster, California);

2. BLEST -- which provides professional engineering services on a time and materials basis for outside clients and supports our internal operations as needed (located in Oak Ridge, Tennessee);

3. BioLargo Water -- which historically focused entirely on R&D, and has now shifted its focus to commercializing the AOS technology (located in Edmonton, Alberta Canada); and

4. Clyra Medical -- which is engaged in developing medical products and preparing launch into commercial activity with approval of its FDA 510 (K) application in process (located in Florida).

Historically,

none

of our operating business units operated at a profit and therefore each required additional cash to meet its monthly expenses. The additional sources of the cash to fund the shortfall from operations of Odor-

No

-More, BLEST and BioLargo Water have been provided by BioLargo’s sales of debt or equity, research grants, and tax credits. Clyra Medical has been funded by

third

party investors who invest directly in Clyra Medical in exchange for equity ownership in that entity.

The segment information for the years

December 31, 2018

and

2019,

is as follows (in thousands):

	2018			2019
Revenues
Odor-No-More	$	1,123		$	1,459
BLEST		863			999
BLEST – Intercompany revenue		(622	)		(597	)
Total	$	1,364		$	1,861
Operating loss
BioLargo corporate	$	(4,185	)	$	(4,248	)
Odor-No-More		(433	)		(335	)
Clyra Medical		(868	)		(1,233	)
BLEST		(125	)		(152	)
Water		(801	)		(728	)
Total	$	(6,412	)	$	(6,696	)
Interest expense
BioLargo corporate	$	(3,494	)	$	(3,944	)
Odor-No-More		—			(2	)
Clyra		—			(50	)
Total	$	(3,494	)	$	(3,996	)
Research and development
BioLargo corporate	$	(1,054	)	$	(892	)
BLEST		(374	)		(354	)
Clyra Medical		(198	)		(219	)
BioLargo Water		(693	)		(610	)
BioLargo corporate - intercompany		600			603
Total	$	(1,719	)	$	(1,472	)

As of December 31, 2019	BioLargo		ONM		Clyra		BLEST		Water		Elimination			Total
Tangible assets	$	1,050	$	420	$	3	$	264	$	50	$	(59	)	$	1,728
Intangible assets		1,893		—		—		—		—		—			1,893

As of December 31, 2018	BioLargo		ONM		Clyra		BLEST		Water		Elimination			Total
Tangible assets	$	353	$	219	$	462	$	230	$	34	$	(6	)	$	1,292
Intangible assets		1,893		—		—		—		—		—			1,893