$MODD

BEAR LAKE RECREATION INC

CIK:0001074871|SEC Filings

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating expenses
Research and development	$ 4,371	$ 5,134
Selling, general and administrative	2,167	1,670
Total operating expenses	6,538	6,804
Loss from operations	(6,538)	(6,804)
Other income	52	102
Net loss	$ (6,486)	$ (6,702)
Net loss per share
Basic (in Dollars per share)	$ (1.19)	$ (3.7)
Diluted (in Dollars per share)	$ (1.19)	$ (3.7)
Shares used in computing net loss per share
Basic (in Shares)	5,452	1,810
Diluted (in Shares)	5,452	1,810

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (6,486)	$ (6,702)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense	447	724
Depreciation and amortization	501	410
Shares issued for services	2	2
Other	(1)
Changes in assets and liabilities:
Prepaid expenses and other assets	(147)	(338)
Lease right-of-use asset	106	98
Accounts payable and accrued expenses	(279)	536
Lease liabilities	(115)	(102)
Net cash used in operating activities	(5,972)	(5,372)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property and equipment	(688)	(934)
Net cash used in investing activities	(688)	(934)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from exercise of common stock warrants		5
Fees paid for warrant inducement offering, net	(26)
Proceeds from at-the-market sales of common stock, net	700	728
Proceeds from registered direct offering, net	2,964
Net cash provided by financing activities	3,638	733
Net decrease in cash and cash equivalents	(3,022)	(5,573)
Cash and cash equivalents at beginning of period	6,942	13,095
Cash and cash equivalents at end of period	$ 3,920	$ 7,522

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Mar. 31, 2026
CURRENT ASSETS
Cash and cash equivalents	$ 3,920	$ 6,942
Prepaid expenses and other	925	600
TOTAL CURRENT ASSETS	4,845	7,542
Property and equipment, net	7,090	6,866
Right of use asset, net	257	363
Other assets	61	61
TOTAL ASSETS	12,253	14,832
CURRENT LIABILITIES
Accounts payable	604	992
Accrued expenses	607	488
Short-term lease liabilities	278	393
TOTAL CURRENT LIABILITIES	1,489	1,873
TOTAL LIABILITIES	1,489	1,873
Commitments and Contingencies (Note 7)
STOCKHOLDERS’ EQUITY
Preferred Stock, $0.001 par value, 5,000 shares authorized, none issued and outstanding
Common Stock, $0.001 par value, 250,000 shares authorized; 5,571 and 4,661 shares issued and outstanding as of June 30, 2026 and March 31, 2026, respectively	6	5
Additional paid-in capital	130,111	125,949
Common stock issuable	128
Accumulated deficit	(119,481)	(112,995)
TOTAL STOCKHOLDERS’ EQUITY	10,764	12,959
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 12,253	$ 14,832