ICCC — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-13

• In late December 2025 and early January 2026, we announced our plan to convert the former Re-Tain® facilities and most of the related equipment for increased production of our First Defense® product line. In June 2026, our Board of Directors authorized a manufacturing capacity expansion program to e…

• The first phase, which we have initiated to stay ahead of current and future demand growth, expands drying capacity by renovating the former Re-Tain® facility and adding a new freeze dryer with greater capacity and reliability than our current freeze-drying equipment. This phase is expected to take …

• In a second phase, we plan to repurpose Re-Tain® equipment and add additional equipment and automation to expand our First Defense® colostrum liquid processing capacity. The second phase will involve additional investments, including for detailed engineering work to develop an efficient and scalable…

• The goal of these capacity expansion investments is to further strengthen our ability to reliably manufacture First Defense® products to meet expected customer demand.

• Results of Operations for the Three Months Ended June 30, 2026, Compared with the Three Months Ended June 30, 2025

Text removed vs the prior filing · source: 10-Q · 2026-05-14

• Results of Operations for the Three Months Ended March 31, 2026, Compared with the Three Months Ended March 31, 2025

• Sales of the First Defense® product line made up 99.5% of our total sales during the three months ended March 31, 2026 and 2025. We also sell our own CMT, which is used to detect somatic cell counts in milk. Sales of CMT aggregated approximately 0.5% of our total product sales during the periods rep…

• Product sales during the three months ended March 31, 2026 were $10.4 million representing a 28.4%, or $2.3 million, increase over product sales of $8.1 million during the three months ended March 31, 2025. The increase was primarily due to higher sales volumes of Tri-Shield® and Dual Force® combine…

• Domestic sales during the three months ended March 31, 2026 increased by 35.7% (to $9.7 million), and international sales decreased by 30.2% (to $0.6 million), in comparison to the three months ended March 31, 2025. International sales aggregated 6.0% and 11.1% of total sales during the three months…

• Costs of goods sold during the three months ended March 31, 2026 were $5.7 million representing a 20.9%, or $1.0 million, increase over costs of goods sold of $4.7 million during the three months ended March 31, 2025. The increase was primarily due to higher sales of First Defense® combined with a s…

Text added vs the prior filing · source: 10-Q · 2026-08-13

• Production capacity constraints: The inability to meet market demand for our products is a risk to our business. Our plans call for increases of our production capacity through yield improvements, redeploying assets previously slated for production of Re-Tain® and investing approximately $3.5 millio…

• Colostrum collection: There is a risk that the farms that participate in our vaccination and colostrum collection process no longer wish to continue supplying us with colostrum, due to the need to use all or part of the colostrum for their own calves, or concerns with the increasing cost of colostru…

Text added vs the prior filing · source: 10-Q · 2026-08-13

• Rule 10b5-1 Trading Plan Elections. During the three months ended June 30, 2026, none of our directors or officers adopted, modified or terminated any “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement” (as such terms are defined in Item 408(a) of Regulation S-K of the Securit…

• Exhibit 3.1* Certificate of Amendment of Certificate of Incorporation (filed June 16, 2026), adopting exculpation provisions approved by the Company’s stockholders at the Annual Meeting of Stockholders on June 11, 2026.

• Exhibit 10.1* Settlement Deed, dated as of May 6, 2026, between the Company and Norbrook Laboratories Limited.

• Exhibit 10.2* 2025 Stock Option and Incentive Plan, as approved by the Board of Directors on November 7, 2025, revised on March 26, 2026 and April 7, 2026 and approved by the Company’s stockholders at the Annual Meeting of Stockholders on June 11, 2026.

Text removed vs the prior filing · source: 10-Q · 2026-05-14

• Exhibit 10.1+ Employment Agreement between the Company and Timothy C. Fiori dated as of January 27, 2026 (incorporated by reference to Exhibit 10.1 of Current Report on Form 8-K filed February 2, 2026).

• Exhibit 10.2+ Employment Agreement between the Company and Bobbi Jo Brockmann dated as of January 27, 2026 (incorporated by reference to Exhibit 10.2 of Current Report on Form 8-K filed February 2, 2026).

• Exhibit 10.3+ Performance-Based Incentive Stock Option Agreement between the Company and Paul Olivier te Boekhorst (incorporated by reference to Exhibit 10.3 of Current Report on Form 8-K filed February 2, 2026).