10-Q Filing

Aqua Metals, Inc. CIK: 1621832 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001437749-21-010201`
Period End Date	20210331
Filing Date	20210429
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	aqms20210331_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 32 Cash Flow Statement 72 Stockholders Equity 22

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.53M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.73M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	67.76M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$32.00K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	64.46M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	-	USD	Point-in-time
Inventory	`InventoryNet`	$1.09M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	64.46M	shares	Point-in-time
Inventory	`InventoryNet`	$1.09M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	67.76M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$641.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$702.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.36M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$13.46M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$24.88M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$24.72M	USD	Point-in-time
Intellectual property, net	`FiniteLivedIntangibleAssetsNet`	$819.00K	USD	Point-in-time
Intellectual property, net	`FiniteLivedIntangibleAssetsNet`	$775.00K	USD	Point-in-time
Investment in LiNiCo	`LongTermInvestments`	$1.50M	USD	Point-in-time
Investment in LiNiCo	`LongTermInvestments`	-	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.11M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.08M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$28.11M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$26.78M	USD	Point-in-time
Total assets	`Assets`	$41.56M	USD	Point-in-time
Total assets	`Assets`	$35.14M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.70M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.55M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.25M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.71M	USD	Point-in-time
Lease liability, current portion	`OperatingAndFinanceLeaseLiabilityCurrent`	$620.00K	USD	Point-in-time
Lease liability, current portion	`OperatingAndFinanceLeaseLiabilityCurrent`	$606.00K	USD	Point-in-time
Notes payable, current portion	`NotesPayableCurrent`	$31.00K	USD	Point-in-time
Notes payable, current portion	`NotesPayableCurrent`	$29.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.45M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.04M	USD	Point-in-time
Lease liability, non-current portion	`OperatingAndFinanceLeaseLiabilityNoncurrent`	$242.00K	USD	Point-in-time
Lease liability, non-current portion	`OperatingAndFinanceLeaseLiabilityNoncurrent`	$108.00K	USD	Point-in-time
Notes payable, non-current portion	`LongTermNotesPayable`	$303.00K	USD	Point-in-time
Notes payable, non-current portion	`LongTermNotesPayable`	$170.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$4.32M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.00M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock; $0.001 par value; 100,000,000 shares authorized; 67,755,336 and 64,461,065 shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively	`CommonStockValue`	$68.00K	USD	Point-in-time
Common stock; $0.001 par value; 100,000,000 shares authorized; 67,755,336 and 64,461,065 shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively	`CommonStockValue`	$64.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$196.73M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$206.91M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-165.65M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-169.74M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$46.14M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$31.14M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$37.24M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$49.59M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$35.14M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$41.56M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Product sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	-	USD	1 Quarter
Product sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$18.00K	USD	1 Quarter
Cost of product sales	`CostOfGoodsAndServicesSold`	$1.45M	USD	1 Quarter
Cost of product sales	`CostOfGoodsAndServicesSold`	$1.61M	USD	1 Quarter
Research and development cost	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$242.00K	USD	1 Quarter
Research and development cost	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$289.00K	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$2.30M	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$2.38M	USD	1 Quarter
Total operating expense	`CostsAndExpenses`	$4.08M	USD	1 Quarter
Total operating expense	`CostsAndExpenses`	$4.20M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.06M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.20M	USD	1 Quarter
Insurance proceeds net of related expenses	`InsuranceRecoveriesNetOfRelatedExpenses`	$-203.00K	USD	1 Quarter
Insurance proceeds net of related expenses	`InsuranceRecoveriesNetOfRelatedExpenses`	$-12.00K	USD	1 Quarter
PPP loan forgiveness	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
PPP loan forgiveness	`GainsLossesOnExtinguishmentOfDebt`	$131.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$183.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$5.00K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$22.00K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	-	USD	1 Quarter
Total income (expense), net	`NonoperatingIncomeExpense`	$-364.00K	USD	1 Quarter
Total income (expense), net	`NonoperatingIncomeExpense`	$114.00K	USD	1 Quarter
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.08M	USD	1 Quarter
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.43M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.09M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.43M	USD	1 Quarter
Weighted average shares outstanding, basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	66.88M	shares	1 Quarter
Weighted average shares outstanding, basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	59.58M	shares	1 Quarter
Basic and diluted net loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	1 Quarter
Basic and diluted net loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.06	USD	1 Quarter

Cash Flow Statement 72 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-4.09M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.43M	USD	1 Quarter
Depreciation	`DepreciationAndRightOfUseAssetAmortization`	$454.00K	USD	1 Quarter
Depreciation	`DepreciationAndRightOfUseAssetAmortization`	$612.00K	USD	1 Quarter
Amortization of intellectual property	`AmortizationOfIntangibleAssets`	$45.00K	USD	1 Quarter
Amortization of intellectual property	`AmortizationOfIntangibleAssets`	$45.00K	USD	1 Quarter
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$12.00K	USD	1 Quarter
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	-	USD	1 Quarter
Fair value of RSUs issued for consulting services	`FairValueOfCommonStockIssuedForConsultingServices`	$24.00K	USD	1 Quarter
Fair value of RSUs issued for consulting services	`FairValueOfCommonStockIssuedForConsultingServices`	$34.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$679.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$956.00K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	-	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$9.00K	USD	1 Quarter
Forgiveness of PPP Loan	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Forgiveness of PPP Loan	`GainsLossesOnExtinguishmentOfDebt`	$131.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-32.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-244.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	-	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-48.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-558.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-61.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-740.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$447.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-1.52M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$457.00K	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$148.00K	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$81.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.16M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.26M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$469.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.56M	USD	1 Quarter
Equipment deposits and other assets	`PaymentsToAcquireEquipmentDepositsAndOtherAssets`	$36.00K	USD	1 Quarter
Equipment deposits and other assets	`PaymentsToAcquireEquipmentDepositsAndOtherAssets`	$158.00K	USD	1 Quarter
Insurance proceeds	`ProceedsFromInsuranceSettlementInvestingActivities`	$4.75M	USD	1 Quarter
Insurance proceeds	`ProceedsFromInsuranceSettlementInvestingActivities`	-	USD	1 Quarter
Investment in LiNiCo	`PaymentsToAcquireInvestments`	-	USD	1 Quarter
Investment in LiNiCo	`PaymentsToAcquireInvestments`	$232.00K	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-859.00K	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$3.15M	USD	1 Quarter
Payments on notes payable	`RepaymentsOfNotesPayable`	$76.00K	USD	1 Quarter
Payments on notes payable	`RepaymentsOfNotesPayable`	-	USD	1 Quarter
Stock option exercise	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Stock option exercise	`ProceedsFromStockOptionsExercised`	$724.00K	USD	1 Quarter
Proceeds from ATM	`ProceedsFromIssuanceOfCommonStock`	$7.49M	USD	1 Quarter
Proceeds from ATM	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$8.21M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-76.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$5.19M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-1.19M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$6.39M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.58M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$6.53M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$11.73M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$6.39M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.58M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$6.53M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$11.73M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$2.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Cash paid for interest	`InterestPaid`	-	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$161.00K	USD	1 Quarter
Change in accounts receivable resulting from insurance funds held in escrow	`ChangeInAccountsReceivableResultingFromInsuranceFundsHeldInEscrow`	$2.75M	USD	1 Quarter
Change in accounts receivable resulting from insurance funds held in escrow	`ChangeInAccountsReceivableResultingFromInsuranceFundsHeldInEscrow`	-	USD	1 Quarter
Change in property and equipment resulting from change in accounts payable	`ChangeInPropertyAndEquipmentResultingFromChangeInAccountsPayable`	$303.00K	USD	1 Quarter
Change in property and equipment resulting from change in accounts payable	`ChangeInPropertyAndEquipmentResultingFromChangeInAccountsPayable`	$-973.00K	USD	1 Quarter
Change in property and equipment resulting from change in accrued expenses	`ChangeInPropertyAndEquipmentResultingFromChangeInAccruedExpenses`	$-189.00K	USD	1 Quarter
Change in property and equipment resulting from change in accrued expenses	`ChangeInPropertyAndEquipmentResultingFromChangeInAccruedExpenses`	-	USD	1 Quarter
Change in equity resulting from change in accrued expenses	`ChangeInEquityResultingFromChangeInAccruedExpenses`	-	USD	1 Quarter
Change in equity resulting from change in accrued expenses	`ChangeInEquityResultingFromChangeInAccruedExpenses`	$24.00K	USD	1 Quarter
Change in investing activity resulting from issuance of equity	`ChangeInInvestingActivityResultingFromIssuanceOfEquity`	-	USD	1 Quarter
Change in investing activity resulting from issuance of equity	`ChangeInInvestingActivityResultingFromIssuanceOfEquity`	$-1.27M	USD	1 Quarter

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Common stock issued, transaction costs	`PaymentsOfStockIssuanceCosts`	$244.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$46.14M	USD	Point-in-time
Balance	`StockholdersEquity`	$31.14M	USD	Point-in-time
Balance	`StockholdersEquity`	$37.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$49.59M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$956.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$678.00K	USD	1 Quarter
RSUs issued for consulting services	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$34.00K	USD	1 Quarter
Common stock issued to employees, includes RSUs vesting	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	$2.00K	USD	1 Quarter
Common stock issued to employees, includes RSUs vesting	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	$1.00K	USD	1 Quarter
Common stock issued upon exercise of employee stock options (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	345,818.00	shares	1 Quarter
Common stock issued upon exercise of employee stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$724.00K	USD	1 Quarter
Common stock issued upon warrant exercise	`StockIssuedDuringPeriodValueWarrantExercised`	-	USD	1 Quarter
Common stock issued for ATM share sales, net of $244 transaction costs	`StockIssuedDuringPeriodValueNewIssues`	$7.49M	USD	1 Quarter
Common stock issued related to LiNiCo investment	`StockIssuedDuringPeriodValueInvestment`	$1.27M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.09M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.43M	USD	1 Quarter
Common stock issued for consulting services	`StockIssuedDuringPeriodValueIssuedForServices`	$24.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$46.14M	USD	Point-in-time
Balance	`StockholdersEquity`	$31.14M	USD	Point-in-time
Balance	`StockholdersEquity`	$37.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$49.59M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.