10-Q Filing

Aqua Metals, Inc. CIK: 1621832 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001437749-22-010074`
Period End Date	20220331
Filing Date	20220428
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	aqms20220331_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 32 Cash Flow Statement 64 Stockholders Equity 22

Balance Sheet 64 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`	$8.14M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.04M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	74.93M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$269.00K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	70.42M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$435.00K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	74.93M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	70.42M	shares	Point-in-time
Lease receivable, current portion	`SalesTypeLeaseNetInvestmentInLeaseExcludingAccruedInterestAfterAllowanceForCreditLossCurrent`	$920.00K	USD	Point-in-time
Lease receivable, current portion	`SalesTypeLeaseNetInvestmentInLeaseExcludingAccruedInterestAfterAllowanceForCreditLossCurrent`	$1.02M	USD	Point-in-time
Inventory	`InventoryNet`	$123.00K	USD	Point-in-time
Inventory	`InventoryNet`	$45.00K	USD	Point-in-time
Assets held for sale	`AssetsHeldForSaleNotPartOfDisposalGroupCurrent`	$2.63M	USD	Point-in-time
Assets held for sale	`AssetsHeldForSaleNotPartOfDisposalGroupCurrent`	$1.10M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$356.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$427.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$12.07M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$12.44M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.78M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.37M	USD	Point-in-time
Intellectual property, net	`FiniteLivedIntangibleAssetsNet`	$595.00K	USD	Point-in-time
Intellectual property, net	`FiniteLivedIntangibleAssetsNet`	$640.00K	USD	Point-in-time
Investment in LINICO	`LongTermInvestments`	$1.50M	USD	Point-in-time
Investment in LINICO	`LongTermInvestments`	$2.00M	USD	Point-in-time
Lease receivable, non-current portion	`SalesTypeLeaseNetInvestmentInLeaseExcludingAccruedInterestAfterAllowanceForCreditLossNoncurrent`	$15.53M	USD	Point-in-time
Lease receivable, non-current portion	`SalesTypeLeaseNetInvestmentInLeaseExcludingAccruedInterestAfterAllowanceForCreditLossNoncurrent`	$15.24M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$796.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$887.00K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$21.51M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$20.83M	USD	Point-in-time
Total assets	`Assets`	$33.57M	USD	Point-in-time
Total assets	`Assets`	$33.27M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$685.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.02M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.89M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$3.00M	USD	Point-in-time
Lease liability, current portion	`OperatingAndFinanceLeaseLiabilityCurrent`	$282.00K	USD	Point-in-time
Lease liability, current portion	`OperatingAndFinanceLeaseLiabilityCurrent`	$388.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.08M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.20M	USD	Point-in-time
Building purchase deposit	`BuildingPurchaseDepositNoncurrent`	$1.33M	USD	Point-in-time
Building purchase deposit	`BuildingPurchaseDepositNoncurrent`	$1.25M	USD	Point-in-time
Lease liability, non-current portion	`OperatingAndFinanceLeaseLiabilityNoncurrent`	$508.00K	USD	Point-in-time
Lease liability, non-current portion	`OperatingAndFinanceLeaseLiabilityNoncurrent`	$330.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$5.95M	USD	Point-in-time
Total liabilities	`Liabilities`	$5.74M	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; 74,934,199 and 70,416,552 shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively	`CommonStockValue`	$75.00K	USD	Point-in-time
Common stock; $0.001 par value; 100,000,000 shares authorized; 74,934,199 and 70,416,552 shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively	`CommonStockValue`	$70.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$211.31M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$215.80M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-188.26M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-183.85M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$27.53M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$37.24M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$31.14M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$27.62M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$33.57M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$33.27M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Cost of product sales	`CostOfGoodsAndServicesSold`	$1.61M	USD	1 Quarter
Cost of product sales	`CostOfGoodsAndServicesSold`	$994.00K	USD	1 Quarter
Research and development cost	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$289.00K	USD	1 Quarter
Research and development cost	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$551.00K	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$2.30M	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$2.77M	USD	1 Quarter
Total operating expense	`CostsAndExpenses`	$4.31M	USD	1 Quarter
Total operating expense	`CostsAndExpenses`	$4.20M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.31M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.20M	USD	1 Quarter
Insurance proceeds net of related expenses	`InsuranceRecoveriesNetOfRelatedExpenses`	-	USD	1 Quarter
Insurance proceeds net of related expenses	`InsuranceRecoveriesNetOfRelatedExpenses`	$-12.00K	USD	1 Quarter
PPP loan forgiveness	`GainsLossesOnExtinguishmentOfDebt`	$131.00K	USD	1 Quarter
PPP loan forgiveness	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantAndEquipmentExcludingAmountInCostOfGoodSold`	$-150.00K	USD	1 Quarter
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantAndEquipmentExcludingAmountInCostOfGoodSold`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$5.00K	USD	1 Quarter
Interest expense	`InterestExpense`	-	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$52.00K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	-	USD	1 Quarter
Total other income (expense), net	`NonoperatingIncomeExpense`	$114.00K	USD	1 Quarter
Total other income (expense), net	`NonoperatingIncomeExpense`	$-98.00K	USD	1 Quarter
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.08M	USD	1 Quarter
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.41M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.09M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.41M	USD	1 Quarter
Weighted average shares outstanding, basic and diluted (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	71.93M	shares	1 Quarter
Weighted average shares outstanding, basic and diluted (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	66.88M	shares	1 Quarter
Basic and diluted net loss per share (in dollars per share)	`EarningsPerShareBasic`	$-0.06	USD	1 Quarter
Basic and diluted net loss per share (in dollars per share)	`EarningsPerShareBasic`	$-0.06	USD	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-4.09M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.41M	USD	1 Quarter
Depreciation	`DepreciationAndRightOfUseAssetAmortization`	$365.00K	USD	1 Quarter
Depreciation	`DepreciationAndRightOfUseAssetAmortization`	$454.00K	USD	1 Quarter
Amortization of intellectual property	`AmortizationOfIntangibleAssets`	$45.00K	USD	1 Quarter
Amortization of intellectual property	`AmortizationOfIntangibleAssets`	$45.00K	USD	1 Quarter
Fair value of RSUs issued for consulting services	`FairValueOfCommonStockIssuedForConsultingServices`	-	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`	$605.00K	USD	1 Quarter
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-150.00K	USD	1 Quarter
Forgiveness of PPP Loan	`GainsLossesOnExtinguishmentOfDebt`	$131.00K	USD	1 Quarter
Forgiveness of PPP Loan	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-72.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-32.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	-	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-78.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$71.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-61.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$447.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$87.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$457.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-221.00K	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$148.00K	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$289.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.16M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.59M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$469.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$258.00K	USD	1 Quarter
Proceeds from sale of equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	1 Quarter
Proceeds from sale of equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$1.15M	USD	1 Quarter
Equipment deposits and other assets	`PaymentsToAcquireEquipmentDepositsAndOtherAssets`	$-30.00K	USD	1 Quarter
Equipment deposits and other assets	`PaymentsToAcquireEquipmentDepositsAndOtherAssets`	$158.00K	USD	1 Quarter
Investment in LINICO	`PaymentsToAcquireInvestments`	$500.00K	USD	1 Quarter
Investment in LINICO	`PaymentsToAcquireInvestments`	$232.00K	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$417.00K	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-859.00K	USD	1 Quarter
Lease of building	`ProceedsFromSalesTypeLeasePaymentsFinancingActivities`	$185.00K	USD	1 Quarter
Lease of building	`ProceedsFromSalesTypeLeasePaymentsFinancingActivities`	-	USD	1 Quarter
Stock option exercise	`ProceedsFromStockOptionsExercised`	$724.00K	USD	1 Quarter
Stock option exercise	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Proceeds from ATM, net	`ProceedsFromIssuanceOfCommonStock`	$7.49M	USD	1 Quarter
Proceeds from ATM, net	`ProceedsFromIssuanceOfCommonStock`	$3.89M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.08M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$8.21M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$903.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$5.19M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.14M	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`	$9.04M	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`	$8.14M	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`	$9.04M	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`	$2.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	-	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$3.00K	USD	1 Quarter
Change in property and equipment resulting from change in accounts payable	`ChangeInPropertyAndEquipmentResultingFromChangeInAccountsPayable`	$-253.00K	USD	1 Quarter
Change in property and equipment resulting from change in accounts payable	`ChangeInPropertyAndEquipmentResultingFromChangeInAccountsPayable`	$303.00K	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`	$121.00K	USD	1 Quarter
Common stock issued, transaction costs	`PaymentsOfStockIssuanceCosts`	$244.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$27.53M	USD	Point-in-time
Balance	`StockholdersEquity`	$37.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$31.14M	USD	Point-in-time
Balance	`StockholdersEquity`	$27.62M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$604.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$678.00K	USD	1 Quarter
Common stock issued to employees and directors, includes RSUs vesting	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	$1.00K	USD	1 Quarter
Common stock issued to employees and directors, includes RSUs vesting	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	$1.00K	USD	1 Quarter
Common stock issued for ATM share sales, net	`StockIssuedDuringPeriodValueNewIssues`	$3.89M	USD	1 Quarter
Common stock issued for ATM share sales, net	`StockIssuedDuringPeriodValueNewIssues`	$7.49M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.09M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.41M	USD	1 Quarter
RSUs issued for consulting services	`StockIssuedDuringPeriodValueIssuedForServices`	$34.00K	USD	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 related to LINICO investment	`StockIssuedDuringPeriodValueInvestment`	$1.27M	USD	1 Quarter
Balance	`StockholdersEquity`	$27.53M	USD	Point-in-time
Balance	`StockholdersEquity`	$37.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$31.14M	USD	Point-in-time
Balance	`StockholdersEquity`	$27.62M	USD	Point-in-time

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