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Impact BioMedical Inc. (NYSE American: IBO) said its annual report on Form 10-K for the fiscal year ended December 31, 2025, filed on March 11, 2026, includes an audit opinion from Grassi & Co., CPAs, P.C. that contains a “going concern” qualification.
The company said the announcement is being made pursuant to NYSE American LLC Company Guide Section 610(b), which requires public disclosure of an audit opinion that includes a going concern paragraph. Impact BioMedical Inc. stated that the disclosure does not represent a change or amendment to its financial statements for the year ended December 31, 2025, and does not amend its Annual Report on Form 10-K.
Impact BioMedical Inc. reported that the going concern qualification appears in the audit opinion included with its 2025 Form 10-K filing.
Separately, the company said it continues with strategic plans to merge with Dr. Ashley’s Ltd., which it projects will be completed by July 1, 2026.
Impact BioMedical Inc. noted that the press release includes forward-looking statements involving risks and uncertainties, including the company’s ability to close the pending merger and secure additional financing to address the going concern doubt expressed by its auditors. The company said actual results may differ materially.

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