10-Q Filing

Aqua Metals, Inc. CIK: 1621832 Q3 2018

Filing Information

Form Type	10-Q
Accession Number	`0001493152-18-015324`
Period End Date	20180930
Filing Date	20181107
Fiscal Year	2018
Fiscal Period	Q3
XBRL Instance	aqms-20180930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 60 Cash Flow Statement 84

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`	38.78M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	27.55M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$28.77M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$22.79M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$882.00K	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	27.55M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	38.78M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$861.00K	USD	Point-in-time
Inventory	`InventoryNet`	$1.09M	USD	Point-in-time
Inventory	`InventoryNet`	$1.24M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$770.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$322.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$25.68M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$31.04M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$45.73M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$46.41M	USD	Point-in-time
Intellectual property, net	`FiniteLivedIntangibleAssetsNet`	$1.32M	USD	Point-in-time
Intellectual property, net	`FiniteLivedIntangibleAssetsNet`	$1.46M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.56M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.57M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$48.76M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$49.30M	USD	Point-in-time
Total assets	`Assets`	$74.44M	USD	Point-in-time
Total assets	`Assets`	$80.35M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.44M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.87M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.02M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.80M	USD	Point-in-time
Deferred rent, current portion	`DeferredRentCreditCurrent`	$192.00K	USD	Point-in-time
Deferred rent, current portion	`DeferredRentCreditCurrent`	$203.00K	USD	Point-in-time
Notes payable, current portion	`NotesPayableCurrent`	$405.00K	USD	Point-in-time
Notes payable, current portion	`NotesPayableCurrent`	$323.00K	USD	Point-in-time
Convertible note payable, current portion	`ConvertibleNotesPayableCurrent`	-	USD	Point-in-time
Convertible note payable, current portion	`ConvertibleNotesPayableCurrent`	$3.03M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.83M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.45M	USD	Point-in-time
Deferred rent, non-current portion	`DeferredRentCreditNoncurrent`	$644.00K	USD	Point-in-time
Deferred rent, non-current portion	`DeferredRentCreditNoncurrent`	$771.00K	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$701.00K	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$670.00K	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$733.00K	USD	Point-in-time
Notes payable, non-current portion	`LongTermNotesPayable`	$8.84M	USD	Point-in-time
Notes payable, non-current portion	`LongTermNotesPayable`	$8.67M	USD	Point-in-time
Convertible note payable, non-current portion	`ConvertibleLongTermNotesPayable`	-	USD	Point-in-time
Convertible note payable, non-current portion	`ConvertibleLongTermNotesPayable`	$1.33M	USD	Point-in-time
Total liabilities	`Liabilities`	$15.48M	USD	Point-in-time
Total liabilities	`Liabilities`	$17.50M	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 September 30, 2018 and December 31, 2017, respectively	`CommonStockValue`	$27.00K	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 September 30, 2018 and December 31, 2017, respectively	`CommonStockValue`	$39.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$113.78M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$144.38M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-81.56M	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`	$62.85M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$80.35M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$74.44M	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Product sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.17M	USD	1 Quarter
Product sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$589.00K	USD	1 Quarter
Product sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.19M	USD	3 Qtrs
Product sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$3.38M	USD	3 Qtrs
Cost of product sales	`CostOfGoodsAndServicesSold`	$6.45M	USD	1 Quarter
Cost of product sales	`CostOfGoodsAndServicesSold`	$16.49M	USD	3 Qtrs
Cost of product sales	`CostOfGoodsAndServicesSold`	$3.14M	USD	1 Quarter
Cost of product sales	`CostOfGoodsAndServicesSold`	$5.67M	USD	3 Qtrs
Research and development cost	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$3.65M	USD	3 Qtrs
Research and development cost	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$1.37M	USD	1 Quarter
Research and development cost	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$6.54M	USD	3 Qtrs
Research and development cost	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$967.00K	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$1.93M	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$4.90M	USD	3 Qtrs
General and administrative expense	`GeneralAndAdministrativeExpense`	$2.17M	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$7.86M	USD	3 Qtrs
Impairment charge	`AssetImpairmentCharges`	$2.41M	USD	3 Qtrs
Impairment charge	`AssetImpairmentCharges`	-	USD	1 Quarter
Impairment charge	`AssetImpairmentCharges`	-	USD	3 Qtrs
Impairment charge	`AssetImpairmentCharges`	-	USD	1 Quarter
Total operating expense	`OperatingExpenses`	$6.43M	USD	1 Quarter
Total operating expense	`OperatingExpenses`	$19.52M	USD	3 Qtrs
Total operating expense	`OperatingExpenses`	$28.00M	USD	3 Qtrs
Total operating expense	`OperatingExpenses`	$9.59M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-5.84M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-24.62M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-18.32M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-8.43M	USD	1 Quarter
Interest expense	`InterestExpense`	$919.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.25M	USD	3 Qtrs
Interest expense	`InterestExpense`	$454.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$2.23M	USD	3 Qtrs
Interest and other income	`InterestAndOtherIncome`	$81.00K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$123.00K	USD	3 Qtrs
Interest and other income	`InterestAndOtherIncome`	$28.00K	USD	3 Qtrs
Interest and other income	`InterestAndOtherIncome`	$7.00K	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-1.22M	USD	3 Qtrs
Total other expense, net	`NonoperatingIncomeExpense`	$-838.00K	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-447.00K	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-2.10M	USD	3 Qtrs
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-26.72M	USD	3 Qtrs
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-19.55M	USD	3 Qtrs
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-9.26M	USD	1 Quarter
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-6.29M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.00K	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$2.00K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-26.72M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-19.55M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-6.29M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-9.26M	USD	1 Quarter
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.27M	shares	1 Quarter
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.73M	shares	3 Qtrs
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	38.78M	shares	1 Quarter
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	32.55M	shares	3 Qtrs
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.31	USD	1 Quarter
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.99	USD	3 Qtrs
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.82	USD	3 Qtrs
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.24	USD	1 Quarter

Cash Flow Statement 84 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-26.72M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-19.55M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-6.29M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-9.26M	USD	1 Quarter
Depreciation	`Depreciation`	$800.00K	USD	1 Quarter
Depreciation	`Depreciation`	$2.35M	USD	3 Qtrs
Depreciation	`Depreciation`	$2.15M	USD	3 Qtrs
Depreciation	`Depreciation`	$800.00K	USD	1 Quarter
Amortization of intellectual property	`AmortizationOfIntangibleAssets`	$118.00K	USD	3 Qtrs
Amortization of intellectual property	`AmortizationOfIntangibleAssets`	$143.00K	USD	3 Qtrs
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$32.00K	USD	3 Qtrs
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$21.00K	USD	3 Qtrs
Fair value of warrant modification, net	`FairValueAdjustmentOfWarrants`	-	USD	3 Qtrs
Fair value of warrant modification, net	`FairValueAdjustmentOfWarrants`	$402.00K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$853.00K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$592.00K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$125.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$361.00K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$1.15M	USD	3 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$206.00K	USD	3 Qtrs
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$63.00K	USD	3 Qtrs
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$64.00K	USD	3 Qtrs
Non-cash convertible note interest expense	`NoncashConvertibleNoteInterestExpense`	$456.00K	USD	3 Qtrs
Non-cash convertible note interest expense	`NoncashConvertibleNoteInterestExpense`	$509.00K	USD	3 Qtrs
Impairment of acquired intellectual property	`ImpairmentOfIntangibleAssetsFinitelived`	$2.41M	USD	3 Qtrs
Impairment of acquired intellectual property	`ImpairmentOfIntangibleAssetsFinitelived`	-	USD	3 Qtrs
Loss on sale of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-10.00K	USD	3 Qtrs
Loss on sale of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	3 Qtrs
Inventory write down	`InventoryWriteDown`	-	USD	3 Qtrs
Inventory write down	`InventoryWriteDown`	$179.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-21.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$577.00K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$29.00K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$1.16M	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-150.00K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-448.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.15M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$483.00K	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$773.00K	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$827.00K	USD	3 Qtrs
Deferred rent	`IncreaseDecreaseInDeferredRent`	$-132.00K	USD	3 Qtrs
Deferred rent	`IncreaseDecreaseInDeferredRent`	$-116.00K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-13.33M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-19.39M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.62M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.06M	USD	3 Qtrs
Other assets	`PaymentsToAcquireOtherProductiveAssets`	$10.00K	USD	3 Qtrs
Other assets	`PaymentsToAcquireOtherProductiveAssets`	-	USD	3 Qtrs
Intellectual property related expenditures	`PaymentsToAcquireIntangibleAssets`	$436.00K	USD	3 Qtrs
Intellectual property related expenditures	`PaymentsToAcquireIntangibleAssets`	-	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.07M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.05M	USD	3 Qtrs
Proceeds from issuance of common stock, net of transaction costs	`ProceedsFromIssuanceOfCommonStock`	$11.56M	USD	3 Qtrs
Proceeds from issuance of common stock, net of transaction costs	`ProceedsFromIssuanceOfCommonStock`	$28.75M	USD	3 Qtrs
Payments on notes payable	`RepaymentsOfDebt`	$133.00K	USD	3 Qtrs
Payments on notes payable	`RepaymentsOfDebt`	$206.00K	USD	3 Qtrs
Payments on capital leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$112.00K	USD	3 Qtrs
Payments on capital leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$102.00K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$28.44M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$11.32M	USD	3 Qtrs
Net increase (decrease) in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-9.06M	USD	3 Qtrs
Net increase (decrease) in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$5.98M	USD	3 Qtrs
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$28.77M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.52M	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`	$28.77M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.52M	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
Capital lease	`CapitalLease`	-	USD	3 Qtrs
Capital lease	`CapitalLease`	$38.00K	USD	3 Qtrs
Total non-cash financing activities	`TotalNonCashFinancingActivities`	-	USD	3 Qtrs
Total non-cash financing activities	`TotalNonCashFinancingActivities`	$38.00K	USD	3 Qtrs
Change in property and equipment resulting from change in accounts payable	`IncreaseInPropertyAndEquipmentResultingFromIncreaseInAccountsPayable`	$-45.00K	USD	3 Qtrs
Change in property and equipment resulting from change in accounts payable	`IncreaseInPropertyAndEquipmentResultingFromIncreaseInAccountsPayable`	$-344.00K	USD	3 Qtrs
Change in property and equipment resulting from change in accrued expenses	`IncreaseInPropertyAndEquipmentResultingFromIncreaseInAccruedExpenses`	$-702.00K	USD	3 Qtrs
Change in property and equipment resulting from change in accrued expenses	`IncreaseInPropertyAndEquipmentResultingFromIncreaseInAccruedExpenses`	$-8.00K	USD	3 Qtrs
Asset retirement obligation offset with asset retirement cost (property and equipment)	`AssetRetirementObligationOffsetWithAssetRetirementCostPropertyAndEquipment`	-	USD	3 Qtrs
Asset retirement obligation offset with asset retirement cost (property and equipment)	`AssetRetirementObligationOffsetWithAssetRetirementCostPropertyAndEquipment`	$670.00K	USD	3 Qtrs
Fair value of common stock issued for intellectual property	`FairValueOfCommonStockIssuedForIntellectualProperty`	-	USD	3 Qtrs
Fair value of common stock issued for intellectual property	`FairValueOfCommonStockIssuedForIntellectualProperty`	$2.15M	USD	3 Qtrs
Change in equity resulting from a change in accrued expenses	`ChangeInEquityResultingFromChangeInAccruedExpenses`	-	USD	3 Qtrs
Change in equity resulting from a change in accrued expenses	`ChangeInEquityResultingFromChangeInAccruedExpenses`	$600.00K	USD	3 Qtrs

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