Filing Analysis
Balance Labs, Inc. announced the immediate resignation of Carmen Villegas from its Board of Directors on December 12, 2025. The company stated that the resignation was not due to any disagreements regarding operations, policies, practices, or financial controls.
🚩 Red Flags
- Immediate departure of a board member can sometimes signal internal friction, though the filing contains standard 'no disagreement' language to mitigate this perception.
📋 Key Facts
- Carmen Villegas resigned as a member of the Board of Directors effective December 12, 2025.
- The resignation was immediate.
- The Company explicitly stated there were no disagreements with management regarding operations, policies, or financial controls.
Balance Labs, Inc. has appointed Alan Campbell as its new CEO, effective August 25, 2025. The appointment involves a leadership transition where the current Chairman and President, Michael D. Farkas, steps down from the CEO role to focus on his roles as Chairman and President.
🚩 Red Flags
- CEO salary is tied to a significant capital raise milestone ($20M), suggesting potential liquidity constraints or immediate need for funding.
- Significant anti-dilution protections for the new CEO until $1B in capital is raised, which may be highly dilutive to existing shareholders.
📋 Key Facts
- Alan Campbell appointed as CEO effective August 25, 2025.
- Campbell's background includes senior leadership at CoinDesk Indices (President) and Bloomberg L.P. (Global Product Manager).
- Base salary of $350,000 is contingent upon the Company completing a capital raise of at least $20,000,000 or 75 days from the effective date.
- One-time equity award equal to 3.6% of total issued and outstanding shares, vesting over three years.
- Includes an anti-dilution protection for Campbell's 3.6% ownership until the Company raises $1,000,000,000 in aggregate capital.
- Michael D. Farkas resigned as CEO but remains Chairman and President.
Balance Labs, Inc. has dismissed its independent auditor, Assurance Dimensions, LLC, and appointed M&K CPAS, PLLC as its new accounting firm for the fiscal year ending December 31, 2024. The dismissal follows previous audit reports that included explanatory paragraphs regarding substantial doubt about the company's ability to continue as a going concern.
🚩 Red Flags
- Going concern language in previous audit reports (FY 2022, FY 2023, and interim 2024).
- Auditor change occurring amidst ongoing going concern uncertainty.
- Potential risk of delayed financial filings if the new auditor requires significant review of prior periods.
📋 Key Facts
- Dismissed Assurance Dimensions, LLC effective immediately on December 11, 2024.
- Appointed M&K CPAS, PLLC as the new independent registered public accounting firm for FY ending Dec 31, 2024.
- Previous auditor (Assurance) issued reports with an explanatory paragraph regarding substantial doubt about the company's ability to continue as a going concern for fiscal years 2022 and 2023.
- The company stated there were no disagreements with the outgoing auditor regarding accounting principles, practices, or auditing scope.
Balance Labs, Inc. announced the immediate resignation of Chief Financial Officer Ari Feldman and the subsequent appointment of Joel Kleiner as the new CFO effective July 8, 2024.
🚩 Red Flags
- Immediate resignation of a CFO can sometimes signal internal friction, though the company explicitly denies any disagreement in this filing.
📋 Key Facts
- Ari Feldman resigned as CFO effective July 3, 2024; company states resignation was not due to disagreements regarding operations or policies.
- Joel Kleiner appointed as CFO on July 8, 2024.
- Kleiner is a CPA with experience at PwC and the SEC, and has previously held finance roles at Torii Software, Stella Connect, and R2Net Inc.
- Kleiner's compensation is set at $2,000 per month.