UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2025

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

333-275062

Commission file number

Impact BioMedical, INC.

(Exact name of registrant as specified in its charter)

Nevada		85-3926944
(State or other Jurisdiction of		(IRS Employer
incorporation- or Organization)		Identification No.)

1400 Broadfield Blvd., Suite 130,

Houston, TX, 77084

(Address of principal executive offices)

(281) 415-6576

(Registrant’s telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Date File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files) Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐	Accelerated filer ☐	Non-accelerated filer ☒	Smaller reporting company ☒

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act) Yes ☐ No ☒

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Ticker symbol(s)		Name of each exchange on which registered
Common Stock, $0.001 par value per share		N/A		N/A

As of August 5, 2025 there were 12,185,412 shares of the registrant’s common stock, $0.001 par value, outstanding.

IMPACT BIOMEDICAL, INC.

FORM 10-Q

TABLE OF CONTENTS

PART I	FINANCIAL INFORMATION
Item 1	Condensed Consolidated Financial Statements
	Condensed Consolidated Balance Sheets as of June 30, 2025 (Unaudited) and December 31, 2024	2
	Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2025 and 2024 (Unaudited)	3
	Condensed Consolidated Statement of Changes in Stockholders’ (Deficit) Equity for the six months ended June 30, 2025 and 2024 (Unaudited)	4
	Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2025 and 2024 (Unaudited)	5
	Notes to Interim Condensed Consolidated Financial Statements	6
Item 2	Management’s Discussion and Analysis of Financial Condition and Results of Operations	18
Item 4	Controls and Procedures	22

PART II	OTHER INFORMATION	23
Item 1	Legal Proceedings	23
Item 1A	Risk Factors	23
Item 2	Unregistered Sales of Equity Securities and Use of Proceeds	23
Item 3	Defaults upon Senior Securities	23
Item 4	Mine Safety Disclosures	23
Item 5	Other Information	23
Item 6	Exhibits	24

	June 30, 2025 (unaudited)			December 31, 2024
ASSETS
Current assets:
Cash and cash equivalents	$	624,000		$	1,999,000
Inventory		486,000			-
Current portion of notes receivable		200,000			184,000
Prepaid expenses and other current assets		171,000			265,000
Total current assets		1,481,000			2,448,000

Property, plant and equipment, net		14,000			17,000
Notes receivable		-			17,000
Other intangible assets, net		17,565,000			17,808,000
Total assets	$	19,060,000		$	20,290,000

LIABILITIES AND STOCKHOLDERS’ DEFICIT EQUITY

Current liabilities:
Accounts payable	$	554,000		$	713,000
Accrued expenses and deferred revenue		266,000			194,000
Note payable, related party		22,352,000			8,878,000
Total current liabilities		23,172,000			9,785,000

Deferred tax liability, net		3,268,000			3,268,000
Total liabilities		26,440,000			13,053,000

Commitments and contingencies (Note 12)		-

Stockholders’ (deficit) equity
Preferred stock, $.001 par value; 100,000,000 shares authorized, 60,496,041 shares issued and outstanding (60,496,041 on December 31, 2024); Liquidation value $0.001 per share, 60,496,041 aggregate. (60,496,041 on December 31, 2024).		60,000			60,000
Common stock, $.001 par value; 4,000,000,000 shares authorized, 12,185,412 shares issued and outstanding (10,000,000 on December 31, 2024)		12,000			11,000
Additional paid-in capital		42,870,000			41,857,000
Accumulated deficit		(53,283,000	)		(37,669,000	)
Total stockholders’ (deficit) equity of the Company		(10,341,000	)		4,259,000
Non-controlling interest in subsidiaries		2,961,000			2,978,000
Total stockholders’ (deficit) equity		(7,380,000	)		7,237,000

Total liabilities and stockholders’ (deficit) equity	$	19,060,000		$	20,290,000

	2025			2024			2025			2024
	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2025			2024			2025			2024
Revenue:
Biotech retail sales	$	7,000		$	-		$	7,000		$	-
Total revenue		7,000			-			7,000			-

Costs and expenses:
Cost of revenue		11,000			-			11,000			-
Sales, general and administrative compensation (inclusive of stock-based compensation)		246,000			145,000			495,000			292,000
Sales and marketing		1,000			18,000			20,000			26,000
Professional Fees		411,000			46,000			634,000			191,000
Research and development		75,000			121,000			178,000			304,000
Depreciation and Amortization		288,000			279,000			571,000			559,000
Rent and utilities		18,000			5,000			37,000			9,000
Other operating expenses		110,000			12,000			226,000			15,000
Total costs and expenses		1,160,000			626,000			2,172,000			1,396,000
Operating loss		(1,153,000	)		(626,000	)		(2,165,000	)		(1,396,000	)

Other income (expense):
Interest income		3,000			3,000			7,000			7,000
Change in fair value of note payable, related party		(12,942,000	)		-			(12,942,000	)		-
Interest expense		(260,000	)		(261,000	)		(531,000	)		(491,000	)
Loss from operations before income taxes		(14,352,000	)		(884,000	)		(15,631,000	)		(1,880,000	)

Income tax benefit (expense)		-			-			-			-
Net loss	$	(14,352,000	)	$	(884,000	)	$	(15,631,000	)	$	(1,880,000	)

Income (loss) from operations attributed to non-controlling interest		6,000			(5,000	)		17,000			31,000

Net loss attributable to common stockholders	$	(14,346,000	)	$	(889,000	)	$	(15,614,000	)	$	(1,849,000	)

Loss per common share:
Basic	$	(1.18	)	$	(0.09	)	$	(1.29	)	$	(0.18	)
Diluted	$	(1.18	)	$	(0.09	)	$	(1.29	)	$	(0.18	)

Shares used in computing loss per common share:
Basic		12,185,412			9,996,703			12,124,146			9,996,705
Diluted		12,185,412			9,996,703			12,124,416			9,996,705

	Shares		Amount		Shares		Amount		Capital		Deficit			Equity			Subsidiary			Total
	Common Stock				Preferred Stock				Additional Paid-in		Accumulated			Total Impact			Non- controlling Interest in
	Shares		Amount		Shares		Amount		Capital		Deficit			Equity			Subsidiary			Total

Balance, December 31, 2023		10,000,000	$	10,000		60,496,041	$	60,000	$	38,113,000	$	(12,961,000	)	$	25,222,000			3,040,000		$	28,262,000
															-
Net loss		-		-		-		-		-		(1,849,000	)		(1,849,000	)		(31,000	)		(1,880,000	)
Balance, June 30, 2024		10,000,000	$	10,000		60,496,041	$	60,000	$	38,113,000	$	(14,810,000	)	$	23,373,000		$	3,009,000		$	26,382,000

Balance, December 31, 2024		11,503,955	$	11,000		60,496,041	$	60,000	$	41,857,000	$	(37,669,000	)	$	4,259,000		$	2,978,000		$	7,237,000
Balance		11,503,955	$	11,000		60,496,041	$	60,000	$	41,857,000	$	(37,669,000	)	$	4,259,000		$	2,978,000		$	7,237,000

Acquisition of DSS PureAir, Inc. assets		545,024		1,000		-		-		819,000		-			820,000						820,000
Stock based compensation		-		-		-		-		4,000		-			4,000			-			4,000
Stock based payments for professional services rendered		136,433		-		-		-		190,000		-			190,000			-			190,000
Net loss		-		-		-		-		-		(15,614,000	)		(15,614,000	)		(17,000	)		(15,631,000	)
Balance, June 30, 2025		12,185,412	$	12,000		60,496,041	$	60,000	$	42,870,000	$	(53,283,000	)	$	(10,341,000	)	$	2,961,000		$	(7,380,000	)
Balance		12,185,412	$	12,000		60,496,041	$	60,000	$	42,870,000	$	(53,283,000	)	$	(10,341,000	)	$	2,961,000		$	(7,380,000	)

	2025			2024
Cash flows from operating activities:
Loss from operations	$	(15,631,000	)	$	(1,880,000	)
Adjustments to reconcile loss from operations to net cash used by operating activities:
Depreciation and amortization		571,000			559,000
Stock based compensation		4,000			-
Issuance of shares for professional services rendered		190,000			-
Accrued interest on notes payable		531,000			511,000
Change in fair value of note payable, related party		12,942,000			-
Decrease (increase) in assets:
Accounts receivable		4,000			-
Inventory		3,000			-
Prepaid expenses and other current assets		98,000			(42,000	)
Increase (decrease) in liabilities:
Accounts payable		(159,000	)		154,000
Accrued expenses		71,000			(169,000	)
Net cash used by operating activities		(1,376,000	)		(867,000	)

Cash flows from investing activities:
Payments received on notes receivable		1,000			1,000
Net cash provided by investing activities		1,000			1,000

Cash flows from financing activities:
Borrowings on note payable, related party		-			867,000
Net cash provided by financing activities		-			867,000

Net increase (decrease) in cash		(1,375,000	)		1,000
Cash and cash equivalents at beginning of period		1,999,000			1,000
Cash and cash equivalents at end of period	$	624,000		$	2,000

Name of consolidated subsidiary	State or other jurisdiction of incorporation or organization	Date of incorporation or formation	Attributable interest as of June 30, 2025			Attributable interest as of December 31, 2024

Global BioMedical, Inc.	Nevada	April 18, 2017		90.9	%		90.9	%
Global BioLife, Inc.	Nevada	April 14, 2017		81.8	%		81.8	%
BioLife Sugar, Inc	Nevada	April 23, 2018		90.9	%		90.9	%
Happy Sugar Inc	Nevada	August 17, 2018		81.8	%		81.8	%
Sweet Sense Inc.	Nevada	April 30, 2018		95.5	%		95.5	%
Global Sugar Solutions Inc.	Nevada	November 7, 2019		100	%		100	%

	June 30, 2025		December 31, 2024
Finished Goods	$	486,000	$	-
Less allowance for obsolescence		-		-
Inventory net	$	486,000	$	-

	Estimated	June 30,		December 31,
	Useful Life	2025		2024
Machinery and equipment	5-10 years	$	30,000	$	30,000
Less accumulated depreciation			16,000		13,000
Property, plant and equipment, net		$	14,000	$	17,000


Balance at December 31, 2023	$	25,093,000
Goodwill adjustment		(25,093,000	)
Balance at December 31, 2024	$	-

		June 30, 2025						December 31, 2024
	Useful Life		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Developed technology assets	20 years	$	22,260,000	$	5,092,000		17,168,000	$	22,260,000	$	4,452,000		17,808,000
Acquired assets	1 -17 years	$	409,000	$	12,000		397,000	$	-	$	-		-
		$	22,669,000	$	5,104,000	$	17,565,000	$	22,260,000	$	4,452,000	$	17,808,000


2025	$	574,000
2026	$	1,321,000
2027	$	1,282,000
2028	$	1,282,000
2029	$	1,282,000
Thereafter	$	11,824,000

1)	Developed the Note Payable repayment schedule
2)	Developed the following inputs underlying the simulation analysis

3)	Ran a simulation with 25,000 trials for purposes of capturing the key inputs discussed above (i.e., forecasting the stock price and VWAP).
4)	Captured the results of the simulation and concluded based on the simulation results

	1.	The Note Payable provides that an event of default would include a change in ownership of fifty-five percent (55%) or more of the common stock or other voting equity interests of the Company. Therefore, by virtue of the Company executing the transaction there will be an event of default.
	2.	The terms negotiated between the Company and the Lender in connection with the Transaction are consistent with those of a market participant:

	a.	The Lender would agree to accept the Company’s common stock in exchange for the full amount owing under the Note as of the projected merger date, September 1, 2025.
	b.	The Lender and Company would agree that the outstanding loan balance as of September 1, 2025, will be$13,176,477 of principal and $1,813,399 of interest ($14,989,876 total).
	c.	The Note Payable does not provide specific equity conversion rights in the event of a change of control. As such, the Company and the Lender would agree the 10-day VWAP is $0.46931688, or the 10-day VWAP immediately prior to June 20, 2025 (being June 18, 2025, through June 5, 2025).
	d.	Given the projected Note Payable balance of $14,989,876 and a 10-day VWAP of $0.46931688, the Lender would agree to accept 31,939,778 shares in the Company for settlement of the Note Payable on September 1, 2025.

	June 30, 2025
	Adjusted Cost		Unrealized Gain/(Loss)		Fair Value		Cash and Cash Equivalents		Note Payable, Related Party
Cash	$	624,000	$	-	$	624,000	$	624,000	$	-
Level 2
Note payable, related party		14,477,000		7,875,000		22,352,000		-		22,352,000
Total	$	15,101,000	$	7,875,000	$	22,976,000	$	624,000	$	22,352,000

	2025		2024
Shares issued in lieu of cash as payment for legal services	$	190,000		-
Shares issued for acquisition of DSS PureAir assets	$	820,000		-

	●	Impact BioLife Science, Inc.;
	●	Global Biomedical, Inc.;
	●	Global BioLife, Inc.; and
	●	Sweet Sense, Inc.

	Three months ended June 30, 2025		Three months ended June 30, 2024		% Change			Six months ended June 30, 2025		Six months ended June 30,2024		% Change

Cost of revenue	$	11,000		-		N/A		$	11,000		-		N/A
Sales, general and administrative compensation		244,000	$	145,000		68	%		491,000	$	292,000		68	%
Stock-based compensation		2,000		-		N/A			4,000		-		N/A
Sales and marketing		1,000		18,000		-94	%		20,000		26,000		-23	%
Professional Fees		411,000		46,000		793	%		634,000		191,000		232	%
Research and development		75,000		121,000		-38	%		178,000		304,000		-41	%
Depreciation and Amortization		288,000		279,000		3	%		571,000		559,000		2	%
Rent and utilities		18,000		5,000		260	%		37,000		9,000		311	%
Other operating expenses		110,000		12,000		817	%		226,000		15,000		1380	%

Total costs and expenses	$	1,160,000	$	626,000		85	%	$	2,172,000	$	1,396,000		56	%

	Three months ended June 30, 2025			Three months ended June 30, 2024			% Change			Six months ended June 30, 2025			Six months ended June 30,2024			% Change

Interest income	$	3,000		$	3,000			0	%	$	7,000		$	7,000			0	%
Change in fair value of note payable, related party		(12,942,000	)		-			N/A			(12,942,000	)		-			N/A
Interest expense		(260,000	)		(261,000	)		0	%		(531,000	)		(491,000	)		8	%

Total other income	$	(13,199,000	)	$	(258,000	)		-5016	%	$	(13,466,000	)	$	(484,000	)		-2682	%

	Three months ended June 30, 2025			Three months ended June 29, 2024			% Change			Six months ended June 30, 2025			Six months ended June 30, 2024			% Change

Net loss	$	(14,352,000	)	$	(884,000	)		1524	%	$	(15,631,000	)	$	(1,880,000	)		731	%

Exhibit Number		Exhibit Description

1.1		Form of Underwriting Agreement between the Company and Aegis Capital Corp. incorporated by reference to Exhibit 1.1 to the Company’s Amendment to the Registration Statement on Form S-1 (No. 333-275062) filed with the SEC on November 21, 2023.

3.1		Amended and Restated Articles of Incorporation of Impact BioMedical Inc. dated July 29, 2020 incorporated by reference to Exhibit 3.1 to the Company’s Amendment to the Registration Statement on Form S-1 (No. 333-275062) filed with the SEC on November 21, 2023.

3.2		Certificate of Amendment to the Amended and Restated Articles of Incorporation of Impact BioMedical Inc. incorporated by reference to Exhibit 3.2 to the Company’s Amendment to the Registration Statement on Form S-1 (No. 333-275062) filed with the SEC on November 21, 2023.

3.3		Certificate of Amendment to the Amended and Restated Articles of Incorporation of Impact BioMedical Inc. incorporated by reference to Exhibit 3.3 to the Company’s Amendment to the Registration Statement on Form S-1 (No. 333-275062) filed with the SEC on November 21, 2023.

3.4		Certificate of Amendment to the Amended and Restated Articles of Incorporation of Impact BioMedical Inc. incorporated by reference to Exhibit 3.4 to the Company’s Amendment to the Registration Statement on Form S-1 (No. 333-275062) filed with the SEC on November 21, 2023.

3.5		Bylaws of the Company incorporated by reference to Exhibit 3.5 to the Company’s Amendment to the Registration Statement on Form S-1 (No. 333-275062) filed with the SEC on November 21, 2023.

3.6		Certificate of Designation of Series A Convertible Preferred Stock incorporated by reference to Exhibit 3.6 to the Company’s Amendment to the Registration Statement on Form S-1 (No. 333-275062) filed with the SEC on November 21, 2023.

4.1		Form of Underwriter Warrant incorporated by reference to Exhibit 4.1 to the Company’s Amendment to the Registration Statement on Form S-1 (No. 333-275062) filed with the SEC on November 21, 2023.

10.1		Share Exchange Agreement dated as of April 27, 2020, among Document Security Systems, Inc., DSS BioHealth Security, Inc., Singapore Development Limited and Global BioMedical Pte Ltd. incorporated by reference to Exhibit 10.1 to the Company’s Amendment to the Registration Statement on Form S-1 (No. 333-275062) filed with the SEC on November 21, 2023.

10.2		Subscription Agreement dated December 19, 2020, between the Company and BioMed Technologies Asia Pacific Holdings Limited incorporated by reference to Exhibit 10.2 to the Company’s Amendment to the Registration Statement on Form S-1 (No. 333-275062) filed with the SEC on November 21, 2023.

10.3		Promissory Note with Dustin Michael Crum dated February 21, 2021 incorporated by reference to Exhibit 10.3 to the Company’s Amendment to the Registration Statement on Form S-1 (No. 333-275062) filed with the SEC on November 21, 2023.

10.4		Stock Purchase Agreement dated March 15, 2021 between the Company and Vivacitas Oncology Inc. incorporated by reference to Exhibit 10.4 to the Company’s Amendment to the Registration Statement on Form S-1 (No. 333-275062) filed with the SEC on November 21, 2023.

10.5		Convertible Promissory Note dated May 14, 2021 incorporated by reference to Exhibit 10.5 to the Company’s Amendment to the Registration Statement on Form S-1 (No. 333-275062) filed with the SEC on November 21, 2023.

10.6		Revolving Promissory Note dated December 31, 2020 incorporated by reference to Exhibit 10.6 to the Company’s Amendment to the Registration Statement on Form S-1 (No. 333-275062) filed with the SEC on November 21, 2023.

10.7		Royalty Agreement by and between Global BioLife Inc. and Chemia Corporation, dated August 15, 2018 incorporated by reference to Exhibit 10.7 to the Company’s Amendment to the Registration Statement on Form S-1 (No. 333-275062) filed with the SEC on November 21, 2023.

10.8		Addendum to Royalty Agreement by and between Global BioLife Inc. and Chemia Corporation, dated November 27, 2018 incorporated by reference to Exhibit 10.8 to the Company’s Amendment to the Registration Statement on Form S-1 (No. 333-275062 ) filed with the SEC on November 21, 2023.

10.9		Distribution Agreement by and between BioMed Technologies Asia Pacific Holdings Limited and Impact BioMedical Inc., dated December 9, 2020 incorporated by reference to Exhibit 10.9 to the Company’s Amendment to the Registration Statement on Form S-1 (No. 333-275062) filed with the SEC on November 21, 2023.

10.10		Global BioLife, Inc. Stockholders’ Agreement among Global BioLife, Inc., Global BioMedical, Inc., Holista Colltech Limited, and GRDG Sciences, LLC, dated April 26, 2017 incorporated by reference to Exhibit 10.10 to the Company’s Amendment to the Registration Statement on Form S-1 (No. 333-275062) filed with the SEC on November 21, 2023.

10.11		Amendment No. 1 to Global BioLife, Inc. Stockholders’ Agreement among Global BioLife, Inc., Global BioMedical, Inc., Holista Colltech Limited, and GRDG Sciences, LLC, dated May 22, 2018 incorporated by reference to Exhibit 10.11 to the Company’s Amendment to the Registration Statement on Form S-1 (No. 333-275062) filed with the SEC on November 21, 2023.

10.12		Amendment No. 2 to Global BioLife, Inc. Stockholders’ Agreement among Global BioLife, Inc., Global BioMedical, Inc., Holista Colltech Limited, and GRDG Sciences, LLC, dated August 2020 incorporated by reference to Exhibit 10.12 to the Company’s Amendment to the Registration Statement on Form S-1 (No. 333-275062) filed with the SEC on November 21, 2023.

10.13		Impact BioLife Science, Inc. Stockholders Agreement among Impact BioLife Science, Inc., Impact BioMedical Inc. and GRDG Sciences, LLC, dated December 11, 2020 incorporated by reference to Exhibit 10.13 to the Company’s Amendment to the Registration Statement on Form S-1 (No. 333-275062) filed with the SEC on November 21, 2023.

10.14		Licensing Proceeds Distribution Agreement with GRDG Sciences, LLC dated May 16, 2022 incorporated by reference to Exhibit 10.14 to the Company’s Amendment to the Registration Statement on Form S-1 (No. 333-275062) filed with the SEC on November 21, 2023.

10.15		Amendment No. 1 to Revolving Promissory Note dated December 31, 2021 incorporated by reference to Exhibit 10.15 to the Company’s Amendment to the Registration Statement on Form S-1 (No. 333-275062) filed with the SEC on November 21, 2023.

10.16		Amendment No. 2 to Revolving Promissory Note dated March 31, 2022 incorporated by reference to Exhibit 10.16 to the Company’s Amendment to the Registration Statement on Form S-1 (No. 333-275062) filed with the SEC on November 21, 2023.

10.17		License Agreement with ProPhase Labs, Inc. dated March 17, 2022 incorporated by reference to Exhibit 10.17 to the Company’s Amendment to the Registration Statement on Form S-1 (No. 333-275062) filed with the SEC on November 21, 2023.

10.18		License Agreement with ProPhase Labs, Inc. dated July 18, 2022 incorporated by reference to Exhibit 10.18 to the Company’s Amendment to the Registration Statement on Form S-1 (No. 333-275062) filed with the SEC on November 21, 2023.

10.19		Licensing Proceeds Distribution Agreement with GRDG Sciences, LLC dated February 15, 2022 incorporated by reference to Exhibit 10.19 to the Company’s Amendment to the Registration Statement on Form S-1 (No. 333-275062) filed with the SEC on November 21, 2023.

10.20		Share Exchange Agreement between Impact BioMedical Inc. and DSS BioHealth Security, Inc. incorporated by reference to Exhibit 10.20 to the Company’s Amendment to the Registration Statement on Form S-1 (No. 333-275062) filed with the SEC on November 21, 2023.

10.21		Amendment to Promissory Note effective January 18, 2024 between Impact BioMedical Inc. and DSS, Inc. incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K (Commission File No. 333-253037) filed with the SEC on January 22, 2024.

14.1		Impact BioMedical Employee Handbook incorporated by reference to Exhibit 14.1 to the Company’s Amendment to the Registration Statement on Form S-1 (No. 333-275062) filed with the SEC on November 21, 2023.

16.1		Letter from Turner Stone & Company LLP incorporated by reference to Exhibit 16.1 to the Company’s Amendment to the Registration Statement on Form S-1 (No. 333-275062) filed with the SEC on November 21, 2023.

21.1		List of subsidiaries of Impact BioMedical Inc. incorporated by reference to Exhibit 21.1 to the Company’s Amendment to the Registration Statement on Form S-1 (No. 333-275062) filed with the SEC on November 21, 2023.

23.2		Consent of Grassi & Co., CPAs, P.C. incorporated by reference to Exhibit 23.2 to the Company’s Amendment to the Registration Statement on Form S-1 (No. 333-275062) filed with the SEC on November 21, 2023.

31.1		Certification of Principal Executive Officer pursuant to Rules 13a-14(a) and 15d-14(a) of the Securities Exchange Act, as amended.

31.2		Certification of Principal Financial Officer pursuant to Rules 13a-14(a) and 15d-14(a) of the Securities Exchange Act, as amended.

32.1		Certification of Principal Executive Officer and Principal Financial Officer pursuant to Rules 13a-14(b) or 15d-14(b) of the Securities and Exchange Act, as amended, and 18 U.S.C. Section 1350.

101.INS		Inline XBRL Instance Document

101.SCH		Inline XBRL Taxonomy Extension Schema Document

101.CAL		Inline XBRL Taxonomy Extension Calculation Linkbase Document

101.DEF		Inline XBRL Taxonomy Extension Definition Linkbase Document

101.LAB		Inline XBRL Taxonomy Extension Label Linkbase Document

101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase Document

104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

	IMPACT BIOMEDICAL, INC.

August 14, 2025	By:	/s/ Frank D. Heuszel
		Frank D. Heuszel
		Chief Executive Officer
		(Principal Executive Officer)

August 14, 2025	By:	/s/ Todd D. Macko
		Todd D. Macko
		Chief Financial Officer
		(Principal Financial and Accounting Officer)

SEC Form 10-Q filed by Impact BioMedical Inc.