BIOLARGO, INC. 10-Q

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds The following is a report of the sales of unregistered securities during the period covered by this report not previously reported in an annual report on Form 10-K, a Quarterly Report on Form 10-Q, or a Current Report on Form 8-K. Stock During the three months ended March 31, 2021, pursuant to an offering commenced in May 2020 (the “2020 Unit Offering”), we sold 875,000 shares of our common stock and received $105,000 in gross and net proceeds from three accredited investors. In addition to the shares, we issued each investor a six-month and a five-year warrant to purchase an aggregate 875,000 additional shares. On March 31, 2021, we issued 137,364 shares of our common stock at $0.23 per share in lieu of $31,000 of accrued and unpaid salary to our officers. On March 31, 2021, we issued 610,123 shares of our common stock at $0.23 per share in lieu of $81,000 of accrued and unpaid obligations to consultants. Options During the three months ended March 31, 2019, we issued options to purchase an aggregate 213,253 shares of our common stock at $0.23 per share to vendors in lieu of cash for unpaid obligations totaling $37,000. All of these offerings and sales were made in reliance on the exemption from registration contained in Section 4(2) of the Securities Exchange Act and/or Regulation D promulgated thereunder as not involving a public offering of securities. 35 Table of Contents