September 30, 2025

December 31, 2024

Assets

Current assets:

Cash and cash equivalents

$

1,120

$

4,242

Short-term investments

4,765

—

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

831

1,175

Inventories

1,457

904

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

—

1,894

Prepaid expenses and other current assets

214

931

Current assets of discontinued operations — GoodWheat

—

96

Total current assets

8,387

9,242

Property and equipment, net

10

41

Right of use asset

—

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

$

8,584

$

13,517

Liabilities and stockholders’ equity

Current liabilities:

Accounts payable and accrued expenses

$

2,015

$

2,108

Amounts due to related parties

—

30

Operating lease liability — current

—

155

Other current liabilities

270

270

Total current liabilities

2,285

2,563

Common stock warrant and option liabilities

856

2,731

Other noncurrent liabilities

—

2,000

Total liabilities

3,141

7,294

Commitments and contingencies (Note 14)

Stockholders’ equity:

Common stock, $0.001 par value—150,000,000 shares authorized as
   of September 30, 2025 and December 31, 2024; 1,367,429 and 1,364,940 shares issued
   and outstanding as of September 30, 2025 and December 31, 2024, respectively

65

65

Additional paid-in capital

285,259

285,036

Accumulated deficit

(279,881

)

(278,878

)

Total stockholders' equity

5,443

6,223

Total liabilities and stockholders’ equity

$

8,584

$

13,517

Three Months Ended September 30,

Nine Months Ended September 30,

2025

2024

2025

2024

Revenues:

Product

$

1,302

$

1,537

$

3,957

$

3,829

Total revenues

1,302

1,537

3,957

3,829

Operating expenses (income):

Cost of revenues

884

1,032

2,389

2,136

Research and development

—

24

9

40

Gain on sale of intangible assets

—

—

(750

)

(4,000

)

Impairment of property and equipment

—

—

—

36

Change in fair value of contingent consideration

—

—

(2,000

)

—

Selling, general and administrative

1,570

2,241

5,434

6,986

Total operating expenses

2,454

3,297

5,082

5,198

Loss from operations

(1,152

)

(1,760

)

(1,125

)

(1,369

)

Interest income

7

233

222

428

Credit loss

(257

)

—

(4,745

)

—

Other income

1,698

15

2,770

168

Change in fair value of common stock warrant and option liabilities

560

330

1,875

493

Net income (loss) from continuing operations

856

(1,182

)

(1,003

)

(280

)

Net loss from discontinued operations

—

(430

)

—

(2,694

)

Net income (loss) attributable to common stockholders

$

856

$

(1,612

)

$

(1,003

)

$

(2,974

)

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

Basic from continuing operations

$

0.63

$

(0.87

)

$

(0.73

)

$

(0.21

)

Basic from discontinued operations

$

—

$

(0.32

)

$

—

$

(1.98

)

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

$

0.63

$

(1.18

)

$

(0.73

)

$

(2.18

)

Diluted from continuing operations

$

0.62

$

(0.87

)

$

(0.73

)

$

(0.21

)

Diluted from discontinued operations

$

-

$

(0.32

)

$

-

$

(1.98

)

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

$

0.62

$

(1.18

)

$

(0.73

)

$

(2.18

)

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

Basic

1,367,192

1,363,753

1,366,768

1,362,754

Diluted

1,371,879

1,363,753

1,366,768

1,362,754

Other comprehensive income, net of tax

Unrealized gains on available-for-sale securities

$

—

$

36

$

—

$

117

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

—

—

—

(111

)

Change in unrealized gains on available-for-sale securities

$

—

$

36

$

-

$

6

Comprehensive income (loss)

$

856

$

(1,576

)

$

(1,003

)

$

(2,968

)

Nine Months Ended September 30,

2025

2024

CASH FLOWS FROM OPERATING ACTIVITIES:

Net loss

$

(1,003

)

$

(2,974

)

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

Change in fair value of common stock warrant and option liabilities

(1,875

)

(493

)

Change in fair value of contingent consideration

(2,000

)

—

Depreciation

30

92

Lease amortization

122

502

Amortization of note receivable

(69

)

(90

)

Gain on disposal of property and equipment

—

(65

)

Gain on sale of RS durum wheat trait

(750

)

(4,000

)

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

(1,067

)

—

Unrealized gain subsequent to receipt of Above Food Ingredients, Inc. common stock

(1,698

)

—

Stock-based compensation

217

395

Credit loss

4,745

—

Write-down of inventories

—

154

Impairment of property and equipment

—

36

Changes in operating assets and liabilities:

—

—

Accounts receivable and other receivables

(241

)

(445

)

Inventories

(552

)

620

Prepaid expenses and other current assets

717

287

Other noncurrent assets

(56

)

—

Accounts payable and accrued expenses

(172

)

(719

)

Amounts due to related parties

(30

)

(29

)

Other current liabilities

(57

)

(11

)

Operating lease liabilities

(139

)

(678

)

Net cash used in operating activities

(3,878

)

(7,418

)

CASH FLOWS FROM INVESTING ACTIVITIES:

Proceeds from sale of intangible assets

750

—

Proceeds from sale of property and equipment

—

342

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

4,827

CASH FLOWS FROM FINANCING ACTIVITIES:

Proceeds from ESPP purchases

6

9

Net cash provided by financing activities

6

9

Net decrease in cash and cash equivalents

(3,122

)

(2,582

)

Cash and cash equivalents — beginning of period

4,242

6,518

Cash and cash equivalents — end of period

$

1,120

$

3,936

NONCASH INVESTING AND FINANCING ACTIVITIES:

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

$

—