Cibus, Inc. Debt Disclosure
The Company has purchased various fixed assets using notes. The notes on financed equipment are subject to annual interest rates between 7.3 percent and 15.1 percent and have a weighted average remaining term of 2.0 years. Notes used to finance equipment mature between March 2025 and March 2028.
The Company has also financed certain annual insurance premiums using a note. The insurance note is subject to an annual interest rate of 8.4 percent, has a weighted average remaining term of 0.6 years, and matures in August 2025.
As of December 31, 2024, future minimum payments under notes payable were as follows:
| In Thousands | Financed Equipment | Insurance | Total Notes Payable | |||||||||||||||||
| 2025 | 351 | 130 | 481 | |||||||||||||||||
| 2026 | 151 | — | 151 | |||||||||||||||||
| 2027 | 89 | — | 89 | |||||||||||||||||
| 2028 | 11 | — | 11 | |||||||||||||||||
| 602 | 130 | 732 | ||||||||||||||||||
| Less: interest | (66) | (4) | (70) | |||||||||||||||||
| Total | $ | 536 | $ | 126 | $ | 662 | ||||||||||||||
| Current portion | 310 | 126 | 436 | |||||||||||||||||
| Noncurrent portion | $ | 226 | $ | — | $ | 226 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2024 | Mar 20, 2025 | Showing above |
| 2022 | Mar 2, 2023 | |
| 2021 | Mar 3, 2022 | |
| 2020 | Mar 4, 2021 | |
About Debt Disclosures
Debt disclosures detail a company's borrowing structure — the types of instruments, interest rates, maturity schedule, and covenant restrictions that define its financial obligations and flexibility. This section is essential for assessing refinancing risk, interest rate exposure, and the margin of safety against financial distress.
Key signals: the maturity schedule reveals concentration risk — large maturities within 1-2 years during tight credit markets can force dilutive refinancing or asset sales. Compare the fair value of debt against carrying amount to gauge whether the market views the company's credit risk differently than the balance sheet suggests. Watch covenant compliance disclosures for tightening cushions, especially leverage and interest coverage ratios. Variable-rate debt exposure quantifies sensitivity to interest rate changes. Secured versus unsecured mix affects recovery rates and future borrowing capacity. Compare net debt-to-EBITDA against industry peers and covenant limits to assess financial health.