Cyanotech Corporation filings document the company's public-company status through a Form 15 covering its common stock, par value $0.02 per share. The filing is a certification and notice of termination of registration under Section 12(g) of the Exchange Act or suspension of the duty to file reports under Sections 13 and 15(d), identifying no other securities classes with a continuing reporting duty.
Cyanotech Corporation (CYAN) filed its quarterly report for the period ended September 30, 2025. Net sales rose to $6.976 million from $5.845 million, driven by stronger packaged and bulk astaxanthin and spirulina demand. Gross profit improved to $2.393 million with margin at 34.3% versus 25.3% a year ago as higher production volumes lowered unit costs and select price increases aided mix.
Operating expenses fell to $2.203 million, producing operating income of $190,000 (prior year loss of $975,000). After interest expense of $189,000, net income was $1,000, or $0.00 per share. For the six months, net sales were $12.797 million and net loss was $925,000.
Liquidity remains tight: cash was $649,000 and working capital $39,000. Debt included $370,000 on the 2023 bank term loan (maturing March 31, 2026), $2.809 million on the 2012 loan (amortizing to August 2032), and a related-party revolver with $4.200 million outstanding (capacity $4.600 million, expiring April 12, 2027). The company notes substantial doubt about continuing as a going concern, citing prior covenant noncompliance (waived) and a bank freeze on further line advances. As of November 1, 2025, common shares outstanding were 7,392,243.
Jennifer A.S. Miyashiro, an officer of Cyanotech Corp (CYAN), was granted 50,000 stock options on 09/12/2025. The options carry an exercise price of $0.29 and expire on 09/12/2035. Following the grant, Ms. Miyashiro beneficially owns 50,000 underlying shares directly. The options vest in three tranches: 16,666 shares on 09/12/2026, 16,667 shares on 09/12/2027 and 16,667 shares on 09/12/2028, each subject to continued service with Cyanotech on the vesting date. The Form 4 was signed by Linda Tanoai by power of attorney on 09/15/2025.
Jennifer A.S. Miyashiro, an officer of Cyanotech Corp (CYAN), was granted 50,000 stock options on 09/12/2025. The options carry an exercise price of $0.29 and expire on 09/12/2035. Following the grant, Ms. Miyashiro beneficially owns 50,000 underlying shares directly. The options vest in three tranches: 16,666 shares on 09/12/2026, 16,667 shares on 09/12/2027 and 16,667 shares on 09/12/2028, each subject to continued service with Cyanotech on the vesting date. The Form 4 was signed by Linda Tanoai by power of attorney on 09/15/2025.
Cyanotech Corp (CYAN) disclosure: Jennifer A.S. Miyashiro is reported as an officer (Chief Financial Officer, Vice President Finance & Administration, Treasurer) of the company and the filing is an initial Form 3 disclosing beneficial ownership. The filing states that the reporting person does not beneficially own any securities of the issuer as reported in this initial statement.