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BioLargo Inc strengthens balance sheet by eliminating nearly all of its convertible debt


BioLargo strengthens balance sheet by eliminating nearly all of its convertible debt
It recently paid off $406,000 in convertible debt that would have come due in August 2021 through cash and equity
CEO Dennis Calvert noted that BioLargo had $7.6 million in debt just three years ago
BioLargo Inc (OTCQB:BLGO) reports that it has eliminated nearly all of its convertible debt to strengthen its balance sheet.
The company paid off $406,000 in convertible debt that would have come due in August 2021, through cash and equity. 
Other than the debt owed by its partially-owned subsidiary Clyra Medical Technologies Inc, BioLargo said only Small Business Association and Paycheck Protection Program (PPP) loans totaling $464,000 ($314,000 of which, has been applied for forgiveness) and $50,000 of fixed-price convertible debt (due in 2023) remain on the company’s balance sheet.  ....

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