BLNC — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-14

• During the three months ended June 30, 2026, we generated $7,333 of consulting revenue from advisory services, compared with no revenue during the three months ended June 30, 2025. The advisory engagement that generated this revenue concluded during the quarter and was invoiced and collected in full…

• Total other income (expense), net was income of $263,716 for the three months ended June 30, 2026, compared to an expense of $66,883 for the three months ended June 30, 2025. The change was driven primarily by a non-cash gain of $276,449 on remeasurement of the derivative liability associated with t…

• As a result of the foregoing, we recognized a net loss of $236,841 for the three months ended June 30, 2026, compared to a net loss of $146,142 for the three months ended June 30, 2025.

• Six Months Ended June 30, 2026 Compared with Six Months Ended June 30, 2025

• During the six months ended June 30, 2026, we generated $40,000 of consulting revenue from advisory services. We did not generate any revenue during the six months ended June 30, 2025.

Text removed vs the prior filing · source: 10-Q · 2026-05-15

• The Company is not a registered investment company under the Investment Company Act of 1940, as amended (the “1940 Act”) and does not engage primarily in the business of investing, reinvesting, or trading in securities. The Company is not managed like an active investment vehicle, is not an investme…

• During the three months ended March 31, 2026, we generated $32,667 of consulting revenue from advisory services, all of which was unbilled at quarter-end. We did not generate any revenue during the three months ended March 31, 2025.

• Total other income (expense), net was income of $665,890 for the three months ended March 31, 2026, compared to income of $72,433 for the three months ended March 31, 2025. The change was primarily driven by a non-cash gain of $706,056 on remeasurement of the derivative liability associated with the…

• As a result of the foregoing, we recognized net income of $177,803 for the three months ended March 31, 2026, compared to a net loss of $6,406 for the three months ended March 31, 2025. The current period net income was driven by the non-cash gain of $706,056 on remeasurement of the derivative liabi…

• Reported net income for the three months ended March 31, 2026 reflects the impact of significant non-cash items. The following table summarizes these non-cash items recorded during the period and their effect on reported net income:

Text added vs the prior filing · source: 10-Q · 2026-08-14

• Management believes that the material weaknesses set forth above were the result of the scale of our operations and are intrinsic to our small size. Remediation activities undertaken to date include the engagement of external financial reporting support, the implementation of a formula-driven report…

Text removed vs the prior filing · source: 10-Q · 2026-05-15

• Management believes that the material weaknesses set forth above were the result of the scale of our operations and are intrinsic to our small size. Management believes these weaknesses did not have a material effect on our financial results and intends to take remedial actions upon receiving fundin…

Text added vs the prior filing · source: 10-Q · 2026-08-14

• Our failure to repay matured promissory notes payable to a related party could adversely affect our liquidity and operations.

• Two of our promissory notes payable to a related party, in the aggregate principal amount of $500,000, have matured and remain unpaid, and the holder may demand payment at any time. Our two promissory notes payable to The Farkas Group, Inc., an entity controlled by our Chairman, in the aggregate pri…

• Our Chief Executive Officer’s anti-dilution right may result in substantial dilution to existing stockholders and volatility in our reported results.

• Pursuant to his August 2025 employment agreement, our Chief Executive Officer, Alan Campbell, is entitled to receive additional shares of common stock to maintain a fixed ownership percentage until we have raised an aggregate of $1 billion in total capital. Any future equity issuance — whether for f…