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<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>

<P align="center" style="font-size: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P align="center" style="font-size: 10pt"><B>Date of Report (Date of earliest event reported): April 27, 2009</B>

<P align="center">

<P align="center" style="font-size: 24pt"><B>BioLargo, Inc.<BR></B>
<FONT style="font-size: 10pt">(Exact name of registrant as specified in its charter)
</FONT>

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    <TD style="border-bottom: 1px solid #000000"><B>Delaware</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>000-19709</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>65-0159115</B></TD>
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<TR valign="top">
    <TD>(State or other Jurisdiction of Incorporation)</TD>
    <TD>&nbsp;</TD>
    <TD>(Commission File Number)</TD>
    <TD>&nbsp;</TD>
    <TD>(IRS Employer Identification No.)</TD>
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    <TD style="border-bottom: 1px solid #000000"><B>2603 Main Street, Suite 1155, Irvine, CA<BR></B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>92614</B></TD>
</TR>
<TR valign="top">
    <TD>(Address of Principal Executive Offices)</TD>
    <TD>&nbsp;</TD>
    <TD>(Zip Code)</TD>
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<P align="center" style="font-size: 10pt">Registrant&#146;s telephone number, including area code: <B>(949) 643-9540</B>


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<TR>
    <TD nowrap>(Former name or former address if changed since last report.)</TD>
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<P align="left" style="font-size: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:

<P align="left" style="font-size: 10pt">
<FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


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<P align="center" style="font-size: 10pt; display: none">1
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<P align="left" style="font-size: 10pt"><B>Item&nbsp;8.01 Other Information</B>


<P align="left" style="font-size: 10pt; text-indent: 3%"><I>New Millennium Note</I>


<P align="left" style="font-size: 10pt; text-indent: 3%">On April&nbsp;13, 2007, New Millennium Capital Partners LLC (&#147;New Millennium&#148;), a limited liability company controlled
and owned in part by the Company&#146;s CEO and president, Dennis P. Calvert, converted the $900,000 principal amount of a
promissory note (the &#147;Note&#148;) into 1,636,364 shares of&nbsp;the Company&#146;s common stock, at a price of $0.55 per share, which
was the last bid price on the date of conversion. Accrued but unpaid interest in the amount of $380,658 as of the
conversion date of April&nbsp;13, 2007 remained outstanding on the Note, which amount&nbsp;was&nbsp;due to be paid&nbsp;on January&nbsp;15,
2008. We did not&nbsp;make such payment&nbsp;on such date. On November&nbsp;12, 2008, we agreed to further extend the date on which
interest would be paid to April&nbsp;30, 2009.


<P align="left" style="font-size: 10pt; text-indent: 3%">On April&nbsp;27, 2009, New Millennium agreed to accept as payment of $230,658 of the outstanding $380,658 in accrued
but unpaid interest an option to purchase 691,974 shares of the Company&#146;s common stock, exercisable at 55 cents per
share. The expiration date of the option is April&nbsp;24, 2012. New Millennium further agreed to extend the due date for
the remaining $150,000 unpaid interest to April&nbsp;30, 2010.


<P align="left" style="font-size: 10pt; text-indent: 3%"><I>Reduction of Payables</I>


<P align="left" style="font-size: 10pt; text-indent: 3%">On April&nbsp;27, 2009, in an effort to preserve the Company&#146;s cash and reduce outstanding payables, the Board offered
to third parties, officers and board members an option (&#147;Option&#148;) to purchase common stock in lieu of cash payment to
reduce amounts owed by the Company. The Options may be exercised at $0.50 cents a share, an amount which was 20 cents a
share above the $0.30 per share closing price of the Company&#146;s common stock on April&nbsp;27, 2009, would be issued pursuant
to the Company&#146;s 2007 Equity Incentive Plan, and would expire April&nbsp;27, 2012.


<P align="left" style="font-size: 10pt; text-indent: 3%">The members of the Board, as well as the Company&#146;s Chief Financial Officer, opted to reduce their outstanding
accrued and unpaid compensation by an aggregate $150,000 in exchange for Options to purchase up to an aggregate 450,000
shares of common stock. The Options issued to Board members Dennis P. Calvert and Kenneth R. Code were issued at an
exercise price of $0.55 per share, rather than $0.50 per share. In addition, seven individuals who provided services to
the Company agreed to reduce their payables by an aggregate $99,378 and accept Options to purchase up to an aggregate
298,135 shares, under the terms set forth by the Board.


<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>



<P align="left" style="font-size: 10pt; text-indent: 3%">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly authorized.

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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date: May&nbsp;1, 2009
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">BIOLARGO, INC.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"></TD>
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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By: <u>/s/ Dennis P. Calvert</u></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Dennis P. Calvert</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">President and Chief Executive Officer</TD>
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<P align="center" style="font-size: 10pt; display: none">2




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Form 8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 27, 2009
BioLargo, Inc.
(Exact name of registrant as specified in its charter)
Delaware
000-19709
65-0159115
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
2603 Main Street, Suite 1155, Irvine, CA
92614
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including area code:
(949) 643-9540
(Former name or former address if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Information
New Millennium Note
On April 13, 2007, New Millennium Capital Partners LLC ("New Millennium"), a limited liability company controlled
and owned in part by the Company's CEO and president, Dennis P. Calvert, converted the $900,000 principal amount of a
promissory note (the "Note") into 1,636,364 shares of the Company's common stock, at a price of $0.55 per share, which
was the last bid price on the date of conversion. Accrued but unpaid interest in the amount of $380,658 as of the
conversion date of April 13, 2007 remained outstanding on the Note, which amount was due to be paid on January 15,
2008. We did not make such payment on such date. On November 12, 2008, we agreed to further extend the date on which
interest would be paid to April 30, 2009.
On April 27, 2009, New Millennium agreed to accept as payment of $230,658 of the outstanding $380,658 in accrued
but unpaid interest an option to purchase 691,974 shares of the Company's common stock, exercisable at 55 cents per
share. The expiration date of the option is April 24, 2012. New Millennium further agreed to extend the due date for
the remaining $150,000 unpaid interest to April 30, 2010.
Reduction of Payables
On April 27, 2009, in an effort to preserve the Company's cash and reduce outstanding payables, the Board offered
to third parties, officers and board members an option ("Option") to purchase common stock in lieu of cash payment to
reduce amounts owed by the Company. The Options may be exercised at $0.50 cents a share, an amount which was 20 cents a
share above the $0.30 per share closing price of the Company's common stock on April 27, 2009, would be issued pursuant
to the Company's 2007 Equity Incentive Plan, and would expire April 27, 2012.
The members of the Board, as well as the Company's Chief Financial Officer, opted to reduce their outstanding
accrued and unpaid compensation by an aggregate $150,000 in exchange for Options to purchase up to an aggregate 450,000
shares of common stock. The Options issued to Board members Dennis P. Calvert and Kenneth R. Code were issued at an
exercise price of $0.55 per share, rather than $0.50 per share. In addition, seven individuals who provided services to
the Company agreed to reduce their payables by an aggregate $99,378 and accept Options to purchase up to an aggregate
298,135 shares, under the terms set forth by the Board.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly authorized.
Date: May 1, 2009
BIOLARGO, INC.
By:
/s/ Dennis P. Calvert
Dennis P. Calvert
President and Chief Executive Officer