secwatch.observer — SEC 8-K summary
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Issuer:     BIOLARGO, INC. (BLGO)
CIK:        0000880242
Form:       8-K
Filed at:   2022-03-08T23:59:59+00:00
Accession:  0001437749-22-005539
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

BioLargo unwinds 2018 Scion deal, transfers SkinDisc IP back, cancels $1.25M note
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- BioLargo and Clyra assign SkinDisc IP (patents, trademark) back to Scion; Scion keeps 2M BioLargo shares.
- Scion forgives $1.25M promissory note principal ($1.007M outstanding) plus $152,716 accrued interest.
- Scion returns 31,000 Clyra shares; Clyra cancels $305,450 in consulting debts owed to Brown, Rhodes, Liden.
- Spencer Brown resigns from Clyra board; five-year non-compete on copper-iodine vs SkinDisc tech.
- Mutual releases of all claims; BioLargo converts $633,091 Clyra advances into 2,042 Clyra shares.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/880242/000143774922005539/0001437749-22-005539-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/880242/000143774922005539/blgo20220307_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-22-005539

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer