June 30, 2025

December 31, 2024

Assets

Current assets:

Cash and cash equivalents

$

1,376

$

4,242

Short-term investments

3,067

—

Accounts receivable and other receivables, net of allowance for credit losses of
   $559 and $0 as of June 30, 2025 and December 31, 2024, respectively

1,264

1,175

Inventories

1,489

904

Note receivable — current, net of allowance for credit losses (Note 7)

—

1,894

Prepaid expenses and other current assets

383

931

Current assets of discontinued operations — GoodWheat

—

96

Total current assets

7,579

9,242

Property and equipment, net

12

41

Right of use asset

10

137

Intangible assets, net

39

39

Note receivable — noncurrent, net of allowance for credit losses (Note 7)

—

3,966

Other noncurrent assets

148

92

Total assets

$

7,788

$

13,517

Liabilities and stockholders’ equity

Current liabilities:

Accounts payable and accrued expenses

$

1,558

$

2,108

Amounts due to related parties

—

30

Operating lease liability — current

11

155

Other current liabilities

270

270

Total current liabilities

1,839

2,563

Common stock warrant and option liabilities

1,416

2,731

Other noncurrent liabilities

—

2,000

Total liabilities

3,255

7,294

Commitments and contingencies (Note 14)

Stockholders’ equity:

Common stock, $0.001 par value—150,000,000 shares authorized as
   of June 30, 2025 and December 31, 2024; 1,367,040 and 1,364,940 shares issued
   and outstanding as of June 30, 2025 and December 31, 2024, respectively

65

65

Additional paid-in capital

285,205

285,036

Accumulated deficit

(280,737

)

(278,878

)

Total stockholders' equity

4,533

6,223

Total liabilities and stockholders’ equity

$

7,788

$

13,517

Three Months Ended June 30,

Six Months Ended June 30,

2025

2024

2025

2024

Revenues:

Product

$

1,455

$

1,306

$

2,655

$

2,293

Total revenues

1,455

1,306

2,655

2,293

Operating expenses (income):

Cost of revenues

824

633

1,506

1,104

Research and development

9

10

9

16

Gain on sale of intangible assets

—

(4,000

)

(750

)

(4,000

)

Impairment of property and equipment

—

—

—

36

Change in fair value of contingent consideration

(1,000

)

—

(2,000

)

—

Selling, general and administrative

2,123

2,683

3,861

4,745

Total operating expenses

1,956

(674

)

2,626

1,901

(Loss) income from operations

(501

)

1,980

29

392

Interest income

9

150

216

195

Credit loss

(4,489

)

—

(4,489

)

—

Other income

1,071

150

1,071

153

Change in fair value of common stock warrant and option liabilities

(548

)

(430

)

1,314

163

Net (loss) income from continuing operations

(4,458

)

1,850

(1,859

)

903

Net loss from discontinued operations

—

(789

)

—

(2,265

)

Net (loss) income attributable to common stockholders

$

(4,458

)

$

1,061

$

(1,859

)

$

(1,362

)

Net (loss) income per share attributable to common stockholders:

Basic and diluted from continuing operations

$

(3.26

)

$

1.36

$

(1.36

)

$

0.66

Basic and diluted from discontinued operations

$

—

$

(0.58

)

$

—

$

(1.66

)

Net (loss) income per basic share attributable to common stockholders

$

(3.26

)

$

0.78

$

(1.36

)

$

(1.00

)

Weighted-average number of shares used in per share
   calculations:

Basic and diluted

1,367,040

1,362,840

1,366,553

1,362,249

Other comprehensive income, net of tax

Unrealized gains on available-for-sale securities

$

—

$

31

$

—

$

91

Reclassification adjustment for gains on available-for-sale securities included in net (loss) income

—

(111

)

—

(111

)

Change in unrealized gains on available-for-sale securities

$

—

$

(80

)

$

-

$

(20

)

Comprehensive (loss) income

$

(4,458

)

$

981

$

(1,859

)

$

(1,382

)

Six Months Ended June 30,

2025

2024

CASH FLOWS FROM OPERATING ACTIVITIES:

Net loss

$

(1,859

)

$

(1,362

)

Adjustments to reconcile net loss to cash used in operating activities:

Change in fair value of common stock warrant and option liabilities

(1,314

)

(163

)

Change in fair value of contingent consideration

(2,000

)

—

Depreciation

28

85

Lease amortization

117

352

Amortization of note receivable

(69

)

(29

)

Gain on disposal of property and equipment

—

(89

)

Gain on sale of RS durum wheat trait

(750

)

(4,000

)

Gain on receipt of Above Food Ingredients, Inc. common stock

(1,067

)

—

Stock-based compensation

164

240

Credit loss

4,489

—

Impairment of property and equipment

—

36

Changes in operating assets and liabilities:

—

—

Accounts receivable and other receivables

(417

)

(334

)

Inventories

(585

)

440

Prepaid expenses and other current assets

544

270

Other noncurrent assets

(56

)

—

Accounts payable and accrued expenses

(630

)

(612

)

Amounts due to related parties

(30

)

22

Other current liabilities

(57

)

(15

)

Operating lease liabilities

(129

)

(507

)

Net cash used in operating activities

(3,621

)

(5,666

)

CASH FLOWS FROM INVESTING ACTIVITIES:

Proceeds from sale of intangible assets

750

—

Proceeds from sale of property and equipment

—

162

Proceeds from sale of investments

—

2,501

Proceeds from sale of RS durum wheat trait

—

4,000

Cash paid related to sale of GoodWheat

—

(2,000

)

Purchases of property and equipment

—

(16

)

Net cash provided by investing activities

750

4,647

CASH FLOWS FROM FINANCING ACTIVITIES:

Proceeds from ESPP purchases

5

5

Net cash provided by financing activities

5

5

Net decrease in cash and cash equivalents

(2,866

)

(1,014

)

Cash and cash equivalents — beginning of period

4,242

6,518

Cash and cash equivalents — end of period

$

1,376

$

5,504

NONCASH INVESTING AND FINANCING ACTIVITIES:

Proceeds from sale of property and equipment in accounts receivable and other receivables

$

—

$

84

Right of use assets obtained in exchange for new operating lease liabilities

$

—

$

86

Fair value of Above Food Ingredients, Inc. common stock received

$

3,067

$

—