The capital structure appears severely compromised, as evidenced by the shift to an equity deficit of $11.8 million in 2025Q3 and a current ratio of only 0.22 as of 2026Q1.
| Total Current Assets | 377K | 411K | 2.45M | 332K | 122K | 287K | 71.7K | 115.34K | 217.21K | 320.66K |
| Cash & Short-Term Investments | 20K | 3K | 2M | 1K | 2K | 46K | 52.14K | 97.67K | 204.93K | 51.92K |
| Cash Only | 20K | 3K | 2M | 1K | 2K | 46K | 52.14K | 97.67K | 204.93K | 51.92K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 199K | 203K | 184K | 331K | 16K | 197K | 14.06K | 35.19K | 4.38K | 28.62K |
| Days Sales Outstanding | 1.91K | 2.32K | 28.81 | - | 116.8 | 1.44K | - | - | - | - |
| Inventory | 63K | 63K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | 139.22 | 54.23 | - | - | - | - | - | - | - | - |
| Other Current Assets | 95K | 0 | 0 | 0 | 43K | 1K | 0 | -17.52K | 0 | 0 |
| Total Non-Current Assets | 16.71M | 16.99M | 17.84M | 44.3M | 46.38M | 56.14M | 1.04K | 1.27K | 0 | 0 |
| Property, Plant & Equipment | 0 | 0 | 17K | 287K | 276K | 0 | 1.04K | 1.27K | 0 | 0 |
| Fixed Asset Turnover | 5.78x | - | 137.12x | - | 0.18x | - | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 25.09M | 25.09M | 25.09M | 0 | 0 | 0 | 0 |
| Intangible Assets | 16.71M | 16.99M | 17.81M | 18.92M | 20.03M | 21.15M | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 17K | 0 | 782K | 4.82M | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 0 | 0 | 190K | 5.08M | 0 | 0 | 0 | 0 |
| Total Assets | 17.09M | 17.41M | 20.29M | 44.63M | 46.5M | 56.42M | 72.74K | 116.61K | 217.21K | 320.66K |
| Asset Turnover | 0.00x | 0.00x | 0.11x | - | 0.00x | 0.00x | - | - | - | - |
| Asset Growth % | -90.01% | -14.22% | - | -4.01% | -17.59% | 77466.53% | -37.62% | -46.31% | -32.26% | - |
| Total Current Liabilities | 1.69M | 1.16M | 9.79M | 13.14M | 10.59M | 12.64M | 18.03K | 21.72K | 20.09K | 25.44K |
| Accounts Payable | 374K | 347K | 713K | 832K | 539K | 115K | 0 | 0 | 0 | 0 |
| Days Payables Outstanding | 234.91 | 298.71 | - | - | - | - | - | - | - | - |
| Short-Term Debt | 0 | 0 | 8.88M | 12.07M | 9.99M | 12.52M | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 1.31M | 815K | 0 | 0 | 0 | 0 | 18.03K | 21.72K | 0 | 0 |
| Current Ratio | 0.22x | 0.35x | 0.25x | 0.03x | 0.01x | 0.02x | 3.98x | 5.31x | 10.81x | 12.61x |
| Quick Ratio | 0.19x | 0.30x | 0.25x | 0.03x | 0.01x | 0.02x | 3.98x | 5.31x | 10.81x | 12.61x |
| Cash Conversion Cycle | 1.81K | 2.07K | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 688K | 688K | 3.27M | 3.23M | 3.23M | 3.86M | 60K | 0 | 0 | 0 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 60K | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 7.91M | 688K | 3.27M | 3.23M | 3.23M | 3.86M | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 2.38M | 1.85M | 13.05M | 16.37M | 13.83M | 16.5M | 78.03K | 21.72K | 20.09K | 25.44K |
| Total Debt | 0 | 0 | 8.88M | 12.07M | 9.99M | 12.52M | 60K | 0 | 0 | 0 |
| Net Debt | -20K | -3K | 6.88M | 12.07M | 9.99M | 12.48M | 7.86K | -97.67K | -204.93K | -51.92K |
| Debt / Equity | 0.00x | - | 1.23x | 0.43x | 0.31x | 0.31x | - | - | - | - |
| Debt / EBITDA | -0.00x | - | 9.92x | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.01x | - | 7.68x | - | - | - | - | - | -1.49x | -0.23x |
| Interest Coverage | -28.62x | -17.22x | -11.14x | -9.07x | -7.37x | -7.37x | - | - | - | - |
| Total Equity | 14.71M | 15.55M | 7.24M | 28.26M | 32.67M | 39.92M | -5.28K | 94.89K | 197.12K | 295.22K |
| Equity Growth % | 105.19% | 114.94% | - | -13.49% | -18.17% | 755806.98% | -105.57% | -51.86% | -33.23% | - |
| Book Value per Share | 0.14 | 0.49 | 0.17 | 0.15 | 2.84 | 0.66 | -0.07 | 0.01 | 0.02 | 0.03 |
| Total Shareholders' Equity | 11.46M | 12.61M | 4.26M | 25.22M | 29.56M | 36.61M | -5.28K | 94.89K | 197.12K | 295.22K |
| Common Stock | 108K | 105K | 11K | 10K | 70K | 125K | 696.75K | 619.1K | 595.51K | 595.51K |
| Retained Earnings | -51.79M | -49.51M | -37.67M | -12.96M | -8.63M | -1.57M | -831.93K | -624.71K | -506.4K | -408.29K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | - | 0 | - | - |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 3.25M | 2.95M | 2.98M | 3.04M | 3.11M | 3.31M | 0 | 0 | 0 | 0 |
Imminent insolvency and liquidity
According to recent SEC filings, Impact BioMedical's total assets have declined from $44.6 million in 2023Q4 to $17.1 million in 2026Q1, reflecting a persistent contraction that signals a deteriorating business quality and an inability to maintain the scale required for its speculative biotechnology and food technology operations.
The consistent decline in total assets, coupled with the accumulation of a $51.8 million deficit in retained earnings, suggests that the company is consuming its capital base without achieving commercial viability. This trajectory indicates that the firm is struggling to preserve its core value, likely necessitating further dilutive actions to sustain basic corporate functions.
As reported in financial statements, IBO's cash reserves have plummeted to a nominal $3,000 as of 2025Q4, leaving the company with virtually no liquidity buffer to cover operating expenses or fund the research milestones necessary to validate its intellectual property portfolio in the competitive biotech sector.
With a current ratio of 0.35, the company lacks the short-term assets to meet its immediate obligations, which points to an acute liquidity crisis. Investors should monitor for emergency financing, as the current cash position appears insufficient to support even minimal ongoing operations without immediate external capital intervention.
Based on the provided balance sheet data, the vast majority of IBO's $17.1 million in total assets is comprised of goodwill, which suggests that the company's valuation is heavily reliant on subjective accounting valuations rather than tangible, revenue-generating assets like property, plant, or equipment.
The reliance on goodwill as the primary asset component warrants further investigation, as it may be subject to significant impairment risk if the company fails to monetize its underlying patent platforms. The near-total absence of PPE indicates an asset-light model that, while potentially scalable, currently lacks the physical infrastructure to support commercial-scale production.
As evidenced by the shift from positive equity to a deficit of $11.8 million in 2025Q3, the company's capital structure has been severely compromised, suggesting that the book value of the firm may no longer reflect the underlying economic reality of its distressed intellectual property assets.
The volatility in equity, characterized by massive swings between positive and negative territory, implies that the company's balance sheet is highly sensitive to non-operating adjustments and potential debt-for-equity swaps. This instability suggests that common shareholders face significant dilution risk, as the company appears to be operating in a state of technical insolvency.
Quick answers to the most common questions about buying IBO stock.
As of 2025, Impact BioMedical Inc. (IBO) had total assets of $17.4M including $0.4M in current assets.
Impact BioMedical Inc. (IBO) carries total debt of $0.0M, offset by $0.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Impact BioMedical Inc. (IBO) has total shareholders' equity (book value) of $12.6M ($0.49 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Impact BioMedical Inc. (IBO) reported a current ratio of 0.35x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.