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Note 9 - BioLargo Engineering, Science and Technologies, LLC
9 Months Ended
Sep. 30, 2025
Notes to Financial Statements  
Wholly-Owned Subsidiary [Text Block]

Note 9. BioLargo Engineering, Science and Technologies, LLC

 

In  September 2017, we commenced a full-service environmental engineering firm and formed a Tennessee entity named BioLargo Engineering, Science & Technologies, LLC (“BLEST”). In conjunction with the start of this subsidiary, we entered into an office lease in the Knoxville, Tennessee area, and entered into employment agreements with six scientists and engineers. BLEST was capitalized with two classes of membership units: Class A, 100% owned by BioLargo, and Class B, held by management of BLEST, and which initially had no “profit interest,” as that term is defined in Tennessee law. Class B members were also granted options to purchase up to an aggregate 1,750,000 shares of BioLargo common stock. The profit interest and option shares are subject to a five-year vesting schedule tied to the performance of the subsidiary. As of September 30, 2025 and December 31, 2024, Class B members have earned 26% profit interest.