10-Q Filing

Aqua Metals, Inc. CIK: 1621832 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001437749-23-012552`
Period End Date	20230331
Filing Date	20230504
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	aqms20230331_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 28 Cash Flow Statement 72 Stockholders Equity 10

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`	$7.08M	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`	$3.35M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$12.00K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	-	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	79.48M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	83.18M	shares	Point-in-time
Lease receivable, current portion	`SalesTypeLeaseNetInvestmentInLeaseExcludingAccruedInterestAfterAllowanceForCreditLossCurrent`	$15.24M	USD	Point-in-time
Lease receivable, current portion	`SalesTypeLeaseNetInvestmentInLeaseExcludingAccruedInterestAfterAllowanceForCreditLossCurrent`	$15.53M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	79.48M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	83.18M	shares	Point-in-time
Treasury Stock, Common, Shares (in shares)	`TreasuryStockCommonShares`	510,632.00	shares	Point-in-time
Inventory	`InventoryNet`	$278.00K	USD	Point-in-time
Inventory	`InventoryNet`	$302.00K	USD	Point-in-time
Assets held for sale	`AssetsHeldForSaleNotPartOfDisposalGroupCurrent`	$47.00K	USD	Point-in-time
Assets held for sale	`AssetsHeldForSaleNotPartOfDisposalGroupCurrent`	-	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$286.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$263.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$19.19M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$23.21M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$11.89M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$7.34M	USD	Point-in-time
Intellectual property, net	`FiniteLivedIntangibleAssetsNet`	$416.00K	USD	Point-in-time
Intellectual property, net	`FiniteLivedIntangibleAssetsNet`	$461.00K	USD	Point-in-time
Investment in LINICO	`LongTermInvestments`	$2.00M	USD	Point-in-time
Investment in LINICO	`LongTermInvestments`	$2.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$489.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$463.00K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$10.29M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$14.77M	USD	Point-in-time
Total assets	`Assets`	$33.96M	USD	Point-in-time
Total assets	`Assets`	$33.50M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.07M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$770.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.51M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.78M	USD	Point-in-time
Building purchase deposit	`BuildingPurchaseDepositCurrent`	$3.25M	USD	Point-in-time
Building purchase deposit	`BuildingPurchaseDepositCurrent`	$3.25M	USD	Point-in-time
Lease liability, current portion	`OperatingAndFinanceLeaseLiabilityCurrent`	$312.00K	USD	Point-in-time
Lease liability, current portion	`OperatingAndFinanceLeaseLiabilityCurrent`	$307.00K	USD	Point-in-time
Notes payable, current portion	`NotesPayableCurrent`	$5.95M	USD	Point-in-time
Notes payable, current portion	`NotesPayableCurrent`	$5.90M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$11.79M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.31M	USD	Point-in-time
Lease liability, non-current portion	`OperatingAndFinanceLeaseLiabilityNoncurrent`	$197.00K	USD	Point-in-time
Lease liability, non-current portion	`OperatingAndFinanceLeaseLiabilityNoncurrent`	$275.00K	USD	Point-in-time
Notes payable, non-current portion	`BuildingPurchaseDepositNoncurrent`	-	USD	Point-in-time
Notes payable, non-current portion	`BuildingPurchaseDepositNoncurrent`	$2.90M	USD	Point-in-time
Total liabilities	`Liabilities`	$14.88M	USD	Point-in-time
Total liabilities	`Liabilities`	$12.59M	USD	Point-in-time
Commitments and contingencies (see Note 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (see Note 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock; $0.001 par value; 200,000,000 shares authorized; 83,180,801 and 79,481,751 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively	`CommonStockValue`	$83.00K	USD	Point-in-time
Common stock; $0.001 par value; 200,000,000 shares authorized; 83,180,801 and 79,481,751 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively	`CommonStockValue`	$79.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$223.45M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$220.11M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-199.28M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-203.88M	USD	Point-in-time
Treasury stock, at cost; common shares: 510,632 and nil as of March 31, 2023 and December 31, 2022, respectively	`TreasuryStockCommonValue`	-	USD	Point-in-time
Treasury stock, at cost; common shares: 510,632 and nil as of March 31, 2023 and December 31, 2022, respectively	`TreasuryStockCommonValue`	$577.00K	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$20.92M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$19.08M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$33.96M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$33.50M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Plant operations and clean up	`CostOfGoodsAndServicesSold`	$1.06M	USD	1 Quarter
Plant operations and clean up	`CostOfGoodsAndServicesSold`	$994.00K	USD	1 Quarter
Research and development cost	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$551.00K	USD	1 Quarter
Research and development cost	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$445.00K	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$3.01M	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`	$4.52M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.52M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.31M	USD	1 Quarter
Gain (loss) on disposal of property, plant and equipment	`GainLossOnSaleOfPropertyPlantAndEquipmentExcludingAmountInCostOfGoodSold`	$-150.00K	USD	1 Quarter
Gain (loss) on disposal of property, plant and equipment	`GainLossOnSaleOfPropertyPlantAndEquipmentExcludingAmountInCostOfGoodSold`	$20.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$176.00K	USD	1 Quarter
Interest expense	`InterestExpense`	-	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$52.00K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$66.00K	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-98.00K	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-90.00K	USD	1 Quarter
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.61M	USD	1 Quarter
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.41M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.61M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.41M	USD	1 Quarter
Weighted average shares outstanding, basic and diluted (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	81.29M	shares	1 Quarter
Weighted average shares outstanding, basic and diluted (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	71.93M	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 72 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-4.61M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.41M	USD	1 Quarter
Depreciation and ROU asset amortization	`DepreciationAndRightOfUseAssetAmortization`	$141.00K	USD	1 Quarter
Depreciation and ROU asset amortization	`DepreciationAndRightOfUseAssetAmortization`	$365.00K	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 common stock issued for director fees	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$32.00K	USD	1 Quarter
Fair value of common stock issued for director fees	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	1 Quarter
Fair value of common stock issued for consulting services	`FairValueOfCommonStockIssuedForConsultingServices`	-	USD	1 Quarter
Fair value of common stock issued for consulting services	`FairValueOfCommonStockIssuedForConsultingServices`	$12.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$687.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$605.00K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	-	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$16.00K	USD	1 Quarter
Loss (gain) on disposal of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-150.00K	USD	1 Quarter
Loss (gain) on disposal of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$20.00K	USD	1 Quarter
Proceeds from leasing of building	`ProceedsFromSalesTypeLeasePaymentsFinancingActivities`	$185.00K	USD	1 Quarter
Proceeds from leasing of building	`ProceedsFromSalesTypeLeasePaymentsFinancingActivities`	$283.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-72.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-12.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-78.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$23.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$71.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$23.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$107.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$87.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$547.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-221.00K	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$73.00K	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$289.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.40M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.86M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.25M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$258.00K	USD	1 Quarter
Proceeds from sale of equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$1.15M	USD	1 Quarter
Proceeds from sale of equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$67.00K	USD	1 Quarter
Equipment deposits and other assets	`PaymentsToAcquireEquipmentDepositsAndOtherAssets`	$-30.00K	USD	1 Quarter
Equipment deposits and other assets	`PaymentsToAcquireEquipmentDepositsAndOtherAssets`	$34.00K	USD	1 Quarter
Investment in LINICO	`PaymentsToAcquireInvestments`	-	USD	1 Quarter
Investment in LINICO	`PaymentsToAcquireInvestments`	$500.00K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.22M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$417.00K	USD	1 Quarter
Proceeds from employee stock purchase plan	`ProceedsFromStockPlans`	-	USD	1 Quarter
Proceeds from employee stock purchase plan	`ProceedsFromStockPlans`	$14.00K	USD	1 Quarter
Proceeds from notes payable, net	`ProceedsFromNotesPayable`	$2.93M	USD	1 Quarter
Proceeds from notes payable, net	`ProceedsFromNotesPayable`	-	USD	1 Quarter
Cash paid for tax withholdings on RSUs vesting	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	-	USD	1 Quarter
Cash paid for tax withholdings on RSUs vesting	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$577.00K	USD	1 Quarter
Proceeds from ATM, net	`ProceedsFromIssuanceOfCommonStock`	$1.99M	USD	1 Quarter
Proceeds from ATM, net	`ProceedsFromIssuanceOfCommonStock`	$3.89M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.36M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.89M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-3.73M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$903.00K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$9.04M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.14M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.35M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.08M	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`	$8.14M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.35M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.08M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$2.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$155.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$3.00K	USD	1 Quarter
Change in property, plant and equipment resulting from change in accounts payable	`ChangeInPropertyAndEquipmentResultingFromChangeInAccountsPayable`	$-253.00K	USD	1 Quarter
Change in property, plant and equipment resulting from change in accounts payable	`ChangeInPropertyAndEquipmentResultingFromChangeInAccountsPayable`	$412.00K	USD	1 Quarter
Change in property, plant and equipment resulting from change in accrued expenses	`ChangeInPropertyAndEquipmentResultingFromChangeInAccruedExpenses`	$210.00K	USD	1 Quarter
Change in property, plant and equipment resulting from change in accrued expenses	`ChangeInPropertyAndEquipmentResultingFromChangeInAccruedExpenses`	-	USD	1 Quarter
Change in equity resulting from change in accrued expenses	`ChangeInEquityResultingFromChangeInAccruedExpenses`	$608.00K	USD	1 Quarter
Change in equity resulting from change in accrued expenses	`ChangeInEquityResultingFromChangeInAccruedExpenses`	-	USD	1 Quarter

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$20.92M	USD	Point-in-time
Balance	`StockholdersEquity`	$19.08M	USD	Point-in-time
Common stock withheld to satisfy tax withholdings on RSUs vesting (in shares)	`SharesPaidForTaxWithholdingForShareBasedCompensation`	510,632.00	shares	1 Quarter
Common stock withheld to satisfy tax withholdings on RSUs vesting	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$577.00K	USD	1 Quarter
Common stock issued for employee stock purchase plan sales (in shares)	`StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans`	192,707.00	shares	1 Quarter
Common stock issued for class action settlement (in shares)	`StockIssuedDuringPeriodSharesIssuedForClassActionSettlement`	469,366.00	shares	1 Quarter
Net loss	`NetIncomeLoss`	$-4.61M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.41M	USD	1 Quarter
Balance	`StockholdersEquity`	$20.92M	USD	Point-in-time
Balance	`StockholdersEquity`	$19.08M	USD	Point-in-time

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