ZIVO Bioscience, Inc.

What they do

Zivo Bioscience operates in the biotech and agtech sectors with a portfolio of proprietary algal and bacterial strains, bioactive molecules, and cultivation techniques. The company has two initiatives: identifying bioactive extracts or molecules from its algal culture to treat human and animal diseases, and selling its algal culture in whole form as a food product. Its therapeutic targets include poultry coccidiosis, bovine mastitis, human cholesterol, and canine osteoarthritis, and it sells a retail dried green microalgae powder under the Zivolife brand through a single distributor.

Revenue drivers

• Zivolife branded microalgae powder — The company's only current revenue source is sales of its proprietary microalgae products as a dried green powder packaged for retail sale under the Zivolife brand, sold through one customer that distributes direct-to-consumer via a branded webpage under a distribution, marketing, and limited license agreement.
• Coccidiosis product candidate — Zivo's lead therapeutic candidate is a non-antibiotic immune modulator intended to mitigate coccidiosis in broiler chickens; the company sees the market's reliance on antibiotic and ionophore products and marginally effective vaccines as an opening, and aims to generate revenue through licensing or other commercial arrangements, though no such revenue has been recognized.
• Licensing and royalty model (planned) — Management states it may derive future income from licensing and selling algal biomass and derivatives to larger human and animal pharma companies and to food, dietary supplement, and skin care manufacturers, with expected streams from biomass or extract sales and from royalties or other contractual license payments.
• Contract manufacturing and ingredient supply (planned) — The stated manufacturing strategy is to create contract manufacturers for non-licensed products, which Zivo would sell to food distributors and retailers, animal food, dietary supplement, and medical food processors and name-brand marketers; no such sales are reported beyond the existing retail powder.

Recent performance

Total revenue was $157,220 in 2024, up from $27,650 in 2023, with cost of goods sold of $108,268 and $16,040 respectively, yielding gross margin of $48,952 in 2024 versus $11,610 in 2023. Total costs and expenses rose to $13,410,849 in 2024 from $7,274,622 in 2023, as general and administrative expense grew to $10,275,914 from $5,897,594 and research and development expense grew to $3,134,935 from $1,377,028. Loss from operations was $13,361,897 in 2024. For the 2025 quarters reported, revenue was $0 in the March quarter, $53,400 in the June quarter, and $65,625 in the September quarter. At September 30, 2025, total assets were $559,452, cash and equivalents were $57,222, total liabilities were $3.8 million, and shareholder equity was negative $3.3 million.

Strategy

Zivo reformulated its biotech and agtech businesses in the first quarter of 2022 around two concepts: algal-derived bioactive extracts or molecules for disease treatment, and whole algal culture as a food product. On the therapeutic side it is pursuing bioactive extracts, fractions, and molecules targeting poultry coccidiosis, bovine mastitis, human cholesterol, and canine osteoarthritis, and says it will continue to seek strategic partners for development, regulatory compliance, and commercialization. It has identified a coccidiosis candidate for broiler chickens, prioritizing that indication because of the disease's global prevalence in poultry, the limited supply of effective non-antibiotic alternatives, and the shorter clinical testing cycle in chickens relative to other species. The company expects research and development expenses to increase significantly over the next several years as it conducts preclinical testing and clinical trials, and expects general and administrative expenses to increase significantly as well.

Risks

• Material weaknesses in internal control — Management concluded disclosure controls were not effective as of September 30, 2025 because material weaknesses identified as of December 31, 2024 continue to exist, including in the control environment, risk assessment and monitoring, IT general controls over user access, vendor management and segregation of duties, documentation of accounting policies, and accounting for income taxes, stock-based compensation, and deferred R&D obligations under participation agreements.
• Dependence on a single customer and single contract manufacturer — Revenue depends on one customer distributing Zivolife through a direct-to-consumer webpage, and Zivo purchases its finished packaged microalgae from a single contract grower in Peru.
• Peru political and regulatory exposure — The company's contract manufacturer is located in Peru, exposing it to political instability, government regulations relating to agriculture and foreign investment, and the policies of other nations toward Peru.
• Persistent losses and negative equity — Zivo reported a 2024 net loss of about $13.4 million, had negative shareholder equity of $3.3 million and cash of $57,222 at September 30, 2025, and its risk factors state an investment carries a high degree of risk and investors could lose all or part of their investment.

Outlook

Management expects research and development expenses to increase significantly over the next several years as it develops additional pharma and algal biomass applications, with needs for preclinical testing and clinical trials that will depend on duration, cost, and timing. It also anticipates general and administrative expenses rising significantly to support research and development, potential commercialization, additional hiring, legal and professional services, and public company costs. The company states it will continue to seek strategic partners for development, regulatory compliance, and commercialization of its products in key global markets. No forward guidance figures, product approval dates, or partnership agreements are disclosed in the excerpts provided.