10-K Filing

Aqua Metals, Inc. CIK: 1621832 FY 2022

Filing Information

Form Type	10-K
Accession Number	`0001437749-23-005964`
Period End Date	20221231
Filing Date	20230309
Fiscal Year	2022
Fiscal Period	FY
XBRL Instance	aqms20221231_10k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 36 Cash Flow Statement 78 Stockholders Equity 20

Balance Sheet 67 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
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.08M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	70.42M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$12.00K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	79.48M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$269.00K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	79.48M	shares	Point-in-time
Lease receivable, current portion	`SalesTypeLeaseNetInvestmentInLeaseExcludingAccruedInterestAfterAllowanceForCreditLossCurrent`	$15.53M	USD	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
Inventory	`InventoryNet`	$123.00K	USD	Point-in-time
Inventory	`InventoryNet`	$278.00K	USD	Point-in-time
Assets held for sale	`AssetsHeldForSaleNotPartOfDisposalGroupCurrent`	$47.00K	USD	Point-in-time
Assets held for sale	`AssetsHeldForSaleNotPartOfDisposalGroupCurrent`	$2.63M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$263.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$356.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$12.44M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$23.21M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$7.34M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.37M	USD	Point-in-time
Intellectual property, net	`FiniteLivedIntangibleAssetsNet`	$461.00K	USD	Point-in-time
Intellectual property, net	`FiniteLivedIntangibleAssetsNet`	$640.00K	USD	Point-in-time
Investment in LINICO	`LongTermInvestments`	$2.00M	USD	Point-in-time
Investment in LINICO	`LongTermInvestments`	$1.50M	USD	Point-in-time
Lease receivable, non-current portion	`SalesTypeLeaseNetInvestmentInLeaseExcludingAccruedInterestAfterAllowanceForCreditLossNoncurrent`	-	USD	Point-in-time
Lease receivable, non-current portion	`SalesTypeLeaseNetInvestmentInLeaseExcludingAccruedInterestAfterAllowanceForCreditLossNoncurrent`	$15.53M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$796.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$489.00K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$10.29M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$20.83M	USD	Point-in-time
Total assets	`Assets`	$33.50M	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`	$1.07M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.78M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$3.00M	USD	Point-in-time
Building purchase deposit, current portion	`BuildingPurchaseDepositCurrent`	-	USD	Point-in-time
Building purchase deposit, current portion	`BuildingPurchaseDepositCurrent`	$3.25M	USD	Point-in-time
Lease liability, current portion	`OperatingAndFinanceLeaseLiabilityCurrent`	$388.00K	USD	Point-in-time
Lease liability, current portion	`OperatingAndFinanceLeaseLiabilityCurrent`	$307.00K	USD	Point-in-time
Note payable	`NotesPayableCurrent`	-	USD	Point-in-time
Note payable	`NotesPayableCurrent`	$5.90M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.08M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.31M	USD	Point-in-time
Building purchase deposit, non-current portion	`BuildingPurchaseDepositNoncurrent`	$1.33M	USD	Point-in-time
Building purchase deposit, non-current portion	`BuildingPurchaseDepositNoncurrent`	-	USD	Point-in-time
Lease liability, non-current portion	`OperatingAndFinanceLeaseLiabilityNoncurrent`	$275.00K	USD	Point-in-time
Lease liability, non-current portion	`OperatingAndFinanceLeaseLiabilityNoncurrent`	$330.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$5.74M	USD	Point-in-time
Total liabilities	`Liabilities`	$12.59M	USD	Point-in-time
Commitments and contingencies (see Note 15)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (see Note 15)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock; $0.001 par value; 200,000,000 shares authorized; 79,481,751 and 70,416,552 shares issued and outstanding as of December 31, 2022 and December 31, 2021, respectively	`CommonStockValue`	$79.00K	USD	Point-in-time
Common stock; $0.001 par value; 200,000,000 shares authorized; 79,481,751 and 70,416,552 shares issued and outstanding as of December 31, 2022 and December 31, 2021, respectively	`CommonStockValue`	$70.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$220.11M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$211.31M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-199.28M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-183.85M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$31.14M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$20.92M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$27.53M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$33.50M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$33.27M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Product sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$173.00K	USD	Annual
Product sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$4.00K	USD	Annual
Plant operations and clean up	`CostOfGoodsAndServicesSold`	$3.96M	USD	Annual
Plant operations and clean up	`CostOfGoodsAndServicesSold`	$7.02M	USD	Annual
Research and development cost	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$1.81M	USD	Annual
Research and development cost	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$933.00K	USD	Annual
General and administrative expense	`GeneralAndAdministrativeExpense`	$9.69M	USD	Annual
General and administrative expense	`GeneralAndAdministrativeExpense`	$9.81M	USD	Annual
Total operating expense	`CostsAndExpenses`	$15.59M	USD	Annual
Total operating expense	`CostsAndExpenses`	$17.64M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-15.58M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-17.46M	USD	Annual
Insurance proceeds net of related expenses	`InsuranceRecoveriesNetOfRelatedExpenses`	$4.79M	USD	Annual
Insurance proceeds net of related expenses	`InsuranceRecoveriesNetOfRelatedExpenses`	-	USD	Annual
Impairment expense	`ImpairmentOfLongLivedAssetsHeldForUse`	$545.00K	USD	Annual
Impairment expense	`ImpairmentOfLongLivedAssetsHeldForUse`	$579.00K	USD	Annual
PPP loan forgiveness	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
PPP loan forgiveness	`GainsLossesOnExtinguishmentOfDebt`	$332.00K	USD	Annual
Gain (loss) on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantAndEquipmentExcludingAmountInCostOfGoodSold`	$-5.67M	USD	Annual
Gain (loss) on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantAndEquipmentExcludingAmountInCostOfGoodSold`	$596.00K	USD	Annual
Interest expense	`InterestExpense`	$21.00K	USD	Annual
Interest expense	`InterestExpense`	$125.00K	USD	Annual
Interest and other income	`InterestAndOtherIncome`	$262.00K	USD	Annual
Interest and other income	`InterestAndOtherIncome`	$379.00K	USD	Annual
Total other income (expense), net	`NonoperatingIncomeExpense`	$154.00K	USD	Annual
Total other income (expense), net	`NonoperatingIncomeExpense`	$-726.00K	USD	Annual
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-15.43M	USD	Annual
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-18.19M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$2.00K	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$2.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-18.19M	USD	Annual
Net loss	`NetIncomeLoss`	$-15.43M	USD	Annual
Weighted average shares outstanding, basic and diluted (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	70.00M	shares	Annual
Weighted average shares outstanding, basic and diluted (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	75.81M	shares	Annual
Basic and diluted net loss per share (in dollars per share)	`EarningsPerShareBasic`	$-0.20	USD	Annual
Basic and diluted net loss per share (in dollars per share)	`EarningsPerShareBasic`	$-0.26	USD	Annual

Cash Flow Statement 78 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-18.19M	USD	Annual
Net loss	`NetIncomeLoss`	$-15.43M	USD	Annual
Depreciation	`DepreciationAndRightOfUseAssetAmortization`	$882.00K	USD	Annual
Depreciation	`DepreciationAndRightOfUseAssetAmortization`	$1.14M	USD	Annual
Amortization of intellectual property	`AmortizationOfIntangibleAssets`	$179.00K	USD	Annual
Amortization of intellectual property	`AmortizationOfIntangibleAssets`	$180.00K	USD	Annual
Fair value of common stock issued for consulting services	`FairValueOfCommonStockIssuedForConsultingServices`	$225.00K	USD	Annual
Fair value of common stock issued for consulting services	`FairValueOfCommonStockIssuedForConsultingServices`	$19.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$2.25M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$2.20M	USD	Annual
Fair value of common stock issued for director fees	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	Annual
Fair value of common stock issued for director fees	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$21.00K	USD	Annual
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$13.00K	USD	Annual
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	-	USD	Annual
Inventory NRV adjustment	`InventoryWriteDown`	$146.00K	USD	Annual
Inventory NRV adjustment	`InventoryWriteDown`	-	USD	Annual
Loss (gain) on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$596.00K	USD	Annual
Loss (gain) on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-5.67M	USD	Annual
Forgiveness of PPP loan	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Forgiveness of PPP loan	`GainsLossesOnExtinguishmentOfDebt`	$332.00K	USD	Annual
Impairment of equipment	`ImpairmentOfLongLivedAssetsHeldForUse`	$545.00K	USD	Annual
Impairment of equipment	`ImpairmentOfLongLivedAssetsHeldForUse`	$579.00K	USD	Annual
Lease of building	`SalesTypeLeaseSellingProfitLoss`	$-553.00K	USD	Annual
Lease of building	`SalesTypeLeaseSellingProfitLoss`	$-920.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$237.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-120.00K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-822.00K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$155.00K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-345.00K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-93.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$22.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$8.00K	USD	Annual
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$378.00K	USD	Annual
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$1.43M	USD	Annual
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$497.00K	USD	Annual
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$508.00K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-10.15M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-7.06M	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.35M	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.77M	USD	Annual
Proceeds from sale of equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$1.76M	USD	Annual
Proceeds from sale of equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$275.00K	USD	Annual
Equipment deposits and other assets	`PaymentsToAcquireEquipmentDepositsAndOtherAssets`	$-79.00K	USD	Annual
Equipment deposits and other assets	`PaymentsToAcquireEquipmentDepositsAndOtherAssets`	$-91.00K	USD	Annual
Investment in LINICO	`PaymentsToAcquireInvestments`	$232.00K	USD	Annual
Investment in LINICO	`PaymentsToAcquireInvestments`	$500.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.23M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.42M	USD	Annual
Proceeds from note payable	`ProceedsFromNotesPayable`	$5.89M	USD	Annual
Proceeds from note payable	`ProceedsFromNotesPayable`	-	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$728.00K	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	-	USD	Annual
Proceeds from ATM, net	`ProceedsFromIssuanceOfCommonStock`	$10.17M	USD	Annual
Proceeds from ATM, net	`ProceedsFromIssuanceOfCommonStock`	$6.52M	USD	Annual
Proceeds from employee stock purchase plan	`ProceedsFromStockPlans`	$108.00K	USD	Annual
Proceeds from employee stock purchase plan	`ProceedsFromStockPlans`	-	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$12.51M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$10.89M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.60M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-1.05M	USD	Annual
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.08M	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`	$8.14M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.08M	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`	$8.14M	USD	Point-in-time
Cash paid for interest, net of amounts capitalized	`InterestPaidNet`	$84.00K	USD	Annual
Cash paid for interest, net of amounts capitalized	`InterestPaidNet`	$21.00K	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaid`	$2.00K	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaid`	$2.00K	USD	Annual
Fair value of common stock issued to consultants	`StockIssued1`	$91.00K	USD	Annual
Fair value of common stock issued to consultants	`StockIssued1`	$19.00K	USD	Annual
Change in property and equipment resulting from change in accounts payable	`ChangeInPropertyAndEquipmentResultingFromChangeInAccountsPayable`	$-368.00K	USD	Annual
Change in property and equipment resulting from change in accounts payable	`ChangeInPropertyAndEquipmentResultingFromChangeInAccountsPayable`	$875.00K	USD	Annual
Change in property and equipment resulting from change in accrued expenses	`ChangeInPropertyAndEquipmentResultingFromChangeInAccruedExpenses`	$-55.00K	USD	Annual
Change in property and equipment resulting from change in accrued expenses	`ChangeInPropertyAndEquipmentResultingFromChangeInAccruedExpenses`	-	USD	Annual
Change in investing activity resulting from issuance of equity	`ChangeInInvestingActivityResultingFromIssuanceOfEquity`	$-1.27M	USD	Annual
Change in investing activity resulting from issuance of equity	`ChangeInInvestingActivityResultingFromIssuanceOfEquity`	-	USD	Annual

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$31.14M	USD	Point-in-time
Balance	`StockholdersEquity`	$20.92M	USD	Point-in-time
Balance	`StockholdersEquity`	$27.53M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$2.20M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$2.25M	USD	Annual
Common stock issued upon RSU vesting	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	$2.00K	USD	Annual
Common stock issued upon RSU vesting	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	$2.00K	USD	Annual
Common stock issued upon exercise of employee stock options (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	0.00	shares	Annual
Common stock issued upon exercise of employee stock options (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	347,901.00	shares	Annual
Common stock issued upon exercise of employee stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$727.00K	USD	Annual
Common stock issued upon warrant exercise	`StockIssuedDuringPeriodValueWarrantExercised`	-	USD	Annual
Common stock issued for consulting services	`StockIssuedDuringPeriodValueIssuedForServices`	$19.00K	USD	Annual
Common stock issued for consulting services	`StockIssuedDuringPeriodValueIssuedForServices`	$225.00K	USD	Annual
Common stock, Issued	`StockIssuedDuringPeriodValueNewIssues`	$21.00K	USD	Annual
Common stock issued related to LINICO investment	`StockIssuedDuringPeriodValueInvestment`	$1.27M	USD	Annual
Net loss	`NetIncomeLoss`	$-18.19M	USD	Annual
Net loss	`NetIncomeLoss`	$-15.43M	USD	Annual
Balance	`StockholdersEquity`	$31.14M	USD	Point-in-time
Balance	`StockholdersEquity`	$20.92M	USD	Point-in-time
Balance	`StockholdersEquity`	$27.53M	USD	Point-in-time

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