10-Q Filing

Aqua Metals, Inc. CIK: 1621832 Q2 2018

Filing Information

Form Type	10-Q
Accession Number	`0001493152-18-011168`
Period End Date	20180630
Filing Date	20180808
Fiscal Year	2018
Fiscal Period	Q2
XBRL Instance	aqms-20180630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 60 Cash Flow Statement 76

Balance Sheet 63 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	27.55M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	38.78M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$22.79M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$36.76M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$360.00K	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	38.78M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$882.00K	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	27.55M	shares	Point-in-time
Inventory	`InventoryNet`	$1.25M	USD	Point-in-time
Inventory	`InventoryNet`	$1.24M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$218.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$770.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$25.68M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$38.58M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$46.49M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$45.73M	USD	Point-in-time
Intellectual property, net	`FiniteLivedIntangibleAssetsNet`	$1.46M	USD	Point-in-time
Intellectual property, net	`FiniteLivedIntangibleAssetsNet`	$1.37M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.56M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.56M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$48.76M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$49.42M	USD	Point-in-time
Total assets	`Assets`	$74.44M	USD	Point-in-time
Total assets	`Assets`	$88.01M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.69M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.44M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.80M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.63M	USD	Point-in-time
Deferred rent, current portion	`DeferredRentCreditCurrent`	$200.00K	USD	Point-in-time
Deferred rent, current portion	`DeferredRentCreditCurrent`	$192.00K	USD	Point-in-time
Notes payable, current portion	`NotesPayableCurrent`	$405.00K	USD	Point-in-time
Notes payable, current portion	`NotesPayableCurrent`	$347.00K	USD	Point-in-time
Convertible note payable, current portion	`ConvertibleNotesPayableCurrent`	$2.29M	USD	Point-in-time
Convertible note payable, current portion	`ConvertibleNotesPayableCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.16M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.83M	USD	Point-in-time
Deferred rent, non-current portion	`DeferredRentCreditNoncurrent`	$771.00K	USD	Point-in-time
Deferred rent, non-current portion	`DeferredRentCreditNoncurrent`	$671.00K	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$722.00K	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$701.00K	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$670.00K	USD	Point-in-time
Notes payable, non-current portion	`LongTermNotesPayable`	$8.84M	USD	Point-in-time
Notes payable, non-current portion	`LongTermNotesPayable`	$8.70M	USD	Point-in-time
Convertible note payable, non-current portion	`ConvertibleLongTermNotesPayable`	$1.33M	USD	Point-in-time
Convertible note payable, non-current portion	`ConvertibleLongTermNotesPayable`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$16.25M	USD	Point-in-time
Total liabilities	`Liabilities`	$15.48M	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; 50,000,000 shares authorized; 38,779,710 and 27,554,076 shares issued and outstanding as of June 30, 2018 and December 31, 2017, respectively	`CommonStockValue`	$39.00K	USD	Point-in-time
Common stock; $0.001 par value; 50,000,000 shares authorized; 38,779,710 and 27,554,076 shares issued and outstanding as of June 30, 2018 and December 31, 2017, respectively	`CommonStockValue`	$27.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$113.78M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$144.02M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-72.30M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-54.84M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$58.97M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$71.75M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$74.44M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$88.01M	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Product sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$603.00K	USD	2 Qtrs
Product sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.21M	USD	2 Qtrs
Product sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$603.00K	USD	1 Quarter
Product sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$483.00K	USD	1 Quarter
Cost of product sales	`CostOfGoodsAndServicesSold`	$2.53M	USD	2 Qtrs
Cost of product sales	`CostOfGoodsAndServicesSold`	$2.53M	USD	1 Quarter
Cost of product sales	`CostOfGoodsAndServicesSold`	$4.60M	USD	1 Quarter
Cost of product sales	`CostOfGoodsAndServicesSold`	$10.04M	USD	2 Qtrs
Research and development cost	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$2.18M	USD	1 Quarter
Research and development cost	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$1.20M	USD	1 Quarter
Research and development cost	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$5.17M	USD	2 Qtrs
Research and development cost	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$2.68M	USD	2 Qtrs
General and administrative expense	`GeneralAndAdministrativeExpense`	$2.97M	USD	2 Qtrs
General and administrative expense	`GeneralAndAdministrativeExpense`	$3.91M	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$5.69M	USD	2 Qtrs
General and administrative expense	`GeneralAndAdministrativeExpense`	$1.44M	USD	1 Quarter
Impairment charge	`AssetImpairmentCharges`	$2.41M	USD	2 Qtrs
Impairment charge	`AssetImpairmentCharges`	-	USD	1 Quarter
Impairment charge	`AssetImpairmentCharges`	$2.41M	USD	1 Quarter
Impairment charge	`AssetImpairmentCharges`	-	USD	2 Qtrs
Total operating expense	`OperatingExpenses`	$18.40M	USD	2 Qtrs
Total operating expense	`OperatingExpenses`	$9.72M	USD	1 Quarter
Total operating expense	`OperatingExpenses`	$8.57M	USD	1 Quarter
Total operating expense	`OperatingExpenses`	$13.09M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-7.97M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-16.19M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-12.48M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-9.23M	USD	1 Quarter
Interest expense	`InterestExpense`	$1.31M	USD	2 Qtrs
Interest expense	`InterestExpense`	$719.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$408.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$796.00K	USD	2 Qtrs
Interest and other income	`InterestAndOtherIncome`	$25.00K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$10.00K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$42.00K	USD	2 Qtrs
Interest and other income	`InterestAndOtherIncome`	$21.00K	USD	2 Qtrs
Total other expense, net	`NonoperatingIncomeExpense`	$-694.00K	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-398.00K	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-1.26M	USD	2 Qtrs
Total other expense, net	`NonoperatingIncomeExpense`	$-775.00K	USD	2 Qtrs
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-9.93M	USD	1 Quarter
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-13.26M	USD	2 Qtrs
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-17.46M	USD	2 Qtrs
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-8.37M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.00K	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.00K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-8.37M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-17.46M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-13.26M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-9.93M	USD	1 Quarter
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.23M	shares	2 Qtrs
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	30.13M	shares	1 Quarter
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	29.39M	shares	2 Qtrs
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.12M	shares	1 Quarter
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.33	USD	1 Quarter
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.42	USD	1 Quarter
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.59	USD	2 Qtrs
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.69	USD	2 Qtrs

Cash Flow Statement 76 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-8.37M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-17.46M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-13.26M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-9.93M	USD	1 Quarter
Depreciation	`Depreciation`	$1.39M	USD	2 Qtrs
Depreciation	`Depreciation`	$1.57M	USD	2 Qtrs
Depreciation	`Depreciation`	$700.00K	USD	1 Quarter
Depreciation	`Depreciation`	$800.00K	USD	1 Quarter
Amortization of intellectual property	`AmortizationOfIntangibleAssets`	$75.00K	USD	2 Qtrs
Amortization of intellectual property	`AmortizationOfIntangibleAssets`	$95.00K	USD	2 Qtrs
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$10.00K	USD	2 Qtrs
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$21.00K	USD	2 Qtrs
Fair value of warrant modification, net	`FairValueAdjustmentOfWarrants`	-	USD	2 Qtrs
Fair value of warrant modification, net	`FairValueAdjustmentOfWarrants`	$402.00K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$348.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$492.00K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$306.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$467.00K	USD	2 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$597.00K	USD	2 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$107.00K	USD	2 Qtrs
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$42.00K	USD	2 Qtrs
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$42.00K	USD	2 Qtrs
Non-cash convertible note interest expense	`NoncashConvertibleNoteInterestExpense`	$333.00K	USD	2 Qtrs
Non-cash convertible note interest expense	`NoncashConvertibleNoteInterestExpense`	$298.00K	USD	2 Qtrs
Impairment of acquired intellectual property	`ImpairmentOfIntangibleAssetsFinitelived`	$2.41M	USD	2 Qtrs
Impairment of acquired intellectual property	`ImpairmentOfIntangibleAssetsFinitelived`	-	USD	2 Qtrs
Inventory write down	`InventoryWriteDown`	-	USD	2 Qtrs
Inventory write down	`InventoryWriteDown`	$130.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$593.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-522.00K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$971.00K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$138.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-552.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$227.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.40M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$111.00K	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$645.00K	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-68.00K	USD	2 Qtrs
Deferred rent	`IncreaseDecreaseInDeferredRent`	$-93.00K	USD	2 Qtrs
Deferred rent	`IncreaseDecreaseInDeferredRent`	$-86.00K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-9.00M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-12.18M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.56M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.39M	USD	2 Qtrs
Intellectual property related expenditures	`PaymentsToAcquireIntangibleAssets`	$390.00K	USD	2 Qtrs
Intellectual property related expenditures	`PaymentsToAcquireIntangibleAssets`	-	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.95M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.39M	USD	2 Qtrs
Proceeds from issuance of common stock, net of transaction costs	`ProceedsFromIssuanceOfCommonStock`	$28.75M	USD	2 Qtrs
Proceeds from issuance of common stock, net of transaction costs	`ProceedsFromIssuanceOfCommonStock`	$10.63M	USD	2 Qtrs
Payments on notes payable	`RepaymentsOfDebt`	$137.00K	USD	2 Qtrs
Payments on notes payable	`RepaymentsOfDebt`	$83.00K	USD	2 Qtrs
Payments on capital leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$78.00K	USD	2 Qtrs
Payments on capital leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$68.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$28.54M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$10.48M	USD	2 Qtrs
Net increase (decrease) in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-4.47M	USD	2 Qtrs
Net increase (decrease) in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$13.97M	USD	2 Qtrs
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$36.76M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$22.11M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$26.58M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$22.79M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$36.76M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$22.11M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$26.58M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$22.79M	USD	Point-in-time
Change in property and equipment resulting from change in accounts payable	`IncreaseInPropertyAndEquipmentResultingFromIncreaseInAccountsPayable`	$-478.00K	USD	2 Qtrs
Change in property and equipment resulting from change in accounts payable	`IncreaseInPropertyAndEquipmentResultingFromIncreaseInAccountsPayable`	$146.00K	USD	2 Qtrs
Change in property and equipment resulting from change in accrued expenses	`IncreaseInPropertyAndEquipmentResultingFromIncreaseInAccruedExpenses`	$-1.33M	USD	2 Qtrs
Change in property and equipment resulting from change in accrued expenses	`IncreaseInPropertyAndEquipmentResultingFromIncreaseInAccruedExpenses`	$-212.00K	USD	2 Qtrs
Asset retirement obligation offset with asset retirement cost (property and equipment)	`AssetRetirementObligationOffsetWithAssetRetirementCostPropertyAndEquipment`	-	USD	2 Qtrs
Asset retirement obligation offset with asset retirement cost (property and equipment)	`AssetRetirementObligationOffsetWithAssetRetirementCostPropertyAndEquipment`	$670.00K	USD	2 Qtrs
Fair value of common stock issued for intellectual property	`FairValueOfCommonStockIssuedForIntellectualProperty`	$2.15M	USD	2 Qtrs
Fair value of common stock issued for intellectual property	`FairValueOfCommonStockIssuedForIntellectualProperty`	-	USD	2 Qtrs
Change in equity resulting from a change in accrued expenses	`ChangeInEquityResultingFromChangeInAccruedExpenses`	$600.00K	USD	2 Qtrs
Change in equity resulting from a change in accrued expenses	`ChangeInEquityResultingFromChangeInAccruedExpenses`	-	USD	2 Qtrs

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