$AIMDW

AMARILLO BIOSCIENCES INC

CIK:0001014763|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenues	$ 152	$ 4,663	$ 313	$ 110,870
Cost of revenues	(53)	(937)	(816)	(19,170)
Gross profit (loss)	99	3,726	(503)	91,700
Operating expenses:
Research and development (including amounts of related party of $220,619 and $449,570 for the three and six months ended June 30, 2026, and $235,424 and $481,685 for the three and six months ended June 30, 2025, respectively)	1,850,409	1,911,800	3,540,269	3,635,884
Selling, general and administrative	2,548,776	1,837,613	3,141,961	3,364,374
Total operating expenses	4,399,185	3,749,413	6,682,230	7,000,258
Loss from operations	(4,399,086)	(3,745,687)	(6,682,733)	(6,908,558)
Non-operating (expenses) income, net:
Interest expense	(200,162)	(177,957)	(377,038)	(358,402)
Other income, net	4,517	(161,346)	5,240	(104,052)
Total non-operating expenses, net	(195,645)	(339,303)	(371,798)	(462,454)
Net loss before income taxes	(4,594,731)	(4,084,990)	(7,054,531)	(7,371,012)
Provision for income taxes
Net loss	$ (4,594,731)	$ (4,084,990)	$ (7,054,531)	$ (7,371,012)
Net loss per common share - basic	$ (0.62)	$ (0.99)	$ (1.05)	$ (2.02)
Net loss per common share - diluted	$ (0.62)	$ (0.99)	$ (1.05)	$ (2.02)
Weighted-average shares used in computing net loss per common share-basic	7,357,150	4,122,131	6,698,030	3,649,994
Weighted-average shares used in computing net loss per common share-diluted	7,357,150	4,122,131	6,698,030	3,649,994

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (7,054,531)	$ (7,371,012)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	2,360,305	2,371,442
Share-based compensation expense	2,012,621	1,379,699
Stock issued for special stock bonus		862,230
Issuance of common stock for paying consulting fee	150,000	75,000
Changes in operating assets and liabilities:
Accounts receivable	22	(131)
Inventory	(23,469)	(16,301)
Other current assets	(32,782)	(49,472)
Accrued expenses and other current and long-term liabilities	156,080	173,545
Net cash used in operating activities	(2,431,754)	(2,575,000)
Cash flows from investing activities:
Purchase of property and equipment	(14,322)	(25,950)
Proceeds from disposal of equipment	1,758
Decrease in refundable deposits and other assets	19,861	7,905
Net cash provided by (used in) investing activities	7,297	(18,045)
Cash flows from financing activities:
Proceeds from Loan agreement	2,812,940
Proceeds from at-the-market offering, net of issuance costs	601,600	719,358
Repayment of convertible notes payable		(1,000,000)
Fractional shares paid out in cash for the reverse stock split		(260)
Net cash provided by (used in) financing activities	3,414,540	(280,902)
Effect from foreign currency exchange	15,476	204,212
Net increase (decrease) in cash and cash equivalents	1,005,559	(2,669,735)
Cash and cash equivalents at beginning of period	417,353	3,892,919
Cash and cash equivalents at end of period	$ 1,422,912	$ 1,223,184

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 1,422,912	$ 417,353
Accounts receivable		22
Inventory, net	308,743	295,565
Other current assets	456,883	425,859
Total current assets	2,188,538	1,138,799
Intangible assets, net	16,983,329	19,226,003
Property and equipment, net	239,635	343,281
Other assets	149,983	163,025
Total assets	19,561,485	20,871,108
Current liabilities:
Contract liabilities	350,000	350,000
Convertible notes payable	11,000,000
Loan payable	2,812,940
Accrued expenses and other current liabilities	2,114,560	728,683
Total current liabilities	16,277,500	1,078,683
Convertible notes payable - noncurrent		11,000,000
Other long-term liabilities		1,229,843
Total liabilities	16,277,500	13,308,526
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.01 par value; 50,000,000 shares authorized; none issued and outstanding as of June 30, 2026 and December 31, 2025
Common stock, $0.01 par value; 300,000,000 shares authorized as of June 30, 2026 and December 31, 2025, 8,544,073 and 6,982,675 shares issued and 7,384,073 and 5,822,675 shares outstanding as of June 30, 2026, and December 31, 2025, respectively	85,441	69,827
Treasury stock, at cost (1,160,000 shares held as of June 30, 2026 and December 31, 2025)	(1,972,000)	(1,972,000)
Additional paid-in capital	79,982,981	77,234,374
Accumulated deficit	(74,574,859)	(67,520,328)
Accumulated other comprehensive loss	(237,578)	(249,291)
Total stockholders’ equity	3,283,985	7,562,582
Total liabilities and stockholders’ equity	$ 19,561,485	$ 20,871,108