Sonoma exits going-concern doubt on 37% revenue surge, retail expansion; Mexico tax extended

Filed June 16, 2026 · Period ending March 31, 2026 · Compared to 10-K Jun 17, 2025 · ~2 min read

Key Changes

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  Auditor removed going-concern warning after company raised $3.6M post-period and revenue grew 37% to $19.5M, driven by CVS/Walmart launches and OTC sales doubling. Cash fell 55% to $2.4M during the year but management now states liquidity is sufficient for 12+ months.

  MD&A: Liquidity / Notes: Going Concern verify on EDGAR →
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  Launched burn relief hydrogel into CVS and Walmart (March 2026), Aquanil AD dermatology line for Persōn & Covey, and diaper rash products into Walmart and large retailers (August 2025), marking major consumer retail expansion beyond prescription channels.

  Business: U.S. Retail Expansion verify on EDGAR →
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  Mexico intercompany debt maturity extended 5 years to 2032 (from 2027). Outstanding balance grew to $55M (principal, technical assistance, accrued interest); contingent tax liability if forgiven or converted now $16.5M, up from $13.8M prior year.

  Risk Factors: Intercompany Debt / Notes: Mexico Tax verify on EDGAR →