10-Q Filing

Aqua Metals, Inc. CIK: 1621832 Q3 2015

Filing Information

Form Type	10-Q
Accession Number	`0001615774-15-003198`
Period End Date	20150930
Filing Date	20151110
Fiscal Year	2015
Fiscal Period	Q3
XBRL Instance	aqms-20150930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 61 Income Statement 43 Cash Flow Statement 67 Stockholders Equity 20

Balance Sheet 61 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
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	5,000.00	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.54M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$29.28M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$259.17K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	14.12M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	14.12M	shares	Point-in-time
Inventory - raw materials	`InventoryNet`	$342.02K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	4.36M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	4.36M	shares	Point-in-time
Inventory - raw materials	`InventoryNet`	-	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$12.91K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$366.79K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$29.99M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.55M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.98M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$245.64K	USD	Point-in-time
Intellectual property, net	`FiniteLivedIntangibleAssetsNet`	$1.03M	USD	Point-in-time
Intellectual property, net	`FiniteLivedIntangibleAssetsNet`	$954.77K	USD	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$3.05M	USD	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	-	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	-	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$593.35K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$6.59M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$1.27M	USD	Point-in-time
Total assets	`Assets`	$36.58M	USD	Point-in-time
Total assets	`Assets`	$5.82M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$687.83K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$40.31K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$69.27K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$12.29K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	-	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$65.59K	USD	Point-in-time
Convertible notes, net	`ConvertibleDebtCurrent`	-	USD	Point-in-time
Convertible notes, net	`ConvertibleDebtCurrent`	$5.09M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$757.10K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.21M	USD	Point-in-time
Deferred rent	`DeferredTaxLiabilitiesNoncurrent`	-	USD	Point-in-time
Deferred rent	`DeferredTaxLiabilitiesNoncurrent`	$74.89K	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesNoncurrent`	$1.38M	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesNoncurrent`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$6.59M	USD	Point-in-time
Total liabilities	`Liabilities`	$832.00K	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; 50,000,000 shares authorized; 14,117,442 and 4,363,641 shares issued and outstanding September 30, 2015 and December 31, 2014, respectively	`CommonStockValue`	$4.36K	USD	Point-in-time
Common stock; $0.001 par; 50,000,000 shares authorized; 14,117,442 and 4,363,641 shares issued and outstanding September 30, 2015 and December 31, 2014, respectively	`CommonStockValue`	$14.12K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.60M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$48.07M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-12.34M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.37M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-769.86K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	-	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$35.74M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$5.82M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$36.58M	USD	Point-in-time

Income Statement 43 line items

Line Item	Tag	Value	Unit	Period
Operations and development costs	`OperationsAndDevelopmentCosts`	$1.18M	USD	3 Qtrs
Operations and development costs	`OperationsAndDevelopmentCosts`	$37.43K	USD	1 Quarter
Operations and development costs	`OperationsAndDevelopmentCosts`	$546.11K	USD	1 Quarter
Business development and management costs	`BusinessDevelopment`	$192.14K	USD	1 Quarter
Business development and management costs	`BusinessDevelopment`	$1.89M	USD	3 Qtrs
Business development and management costs	`BusinessDevelopment`	$776.92K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.32M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$229.56K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.07M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-229.56K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.32M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-3.07M	USD	3 Qtrs
Increase in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$-5.78M	USD	3 Qtrs
Increase in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$-276.94K	USD	1 Quarter
Increase in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$492.05K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.13M	USD	3 Qtrs
Interest expense	`InterestExpense`	$2.94K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$10.13K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$7.67K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	-	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$144.00	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$207.00	USD	3 Qtrs
Other income	`OtherNonoperatingIncome`	$19.00	USD	1 Quarter
Total other expenses, net	`NonoperatingIncomeExpense`	$-2.92K	USD	1 Quarter
Total other expenses, net	`NonoperatingIncomeExpense`	$-6.89M	USD	3 Qtrs
Total other expenses, net	`NonoperatingIncomeExpense`	$-761.17K	USD	1 Quarter
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-232.49K	USD	1 Quarter
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-9.96M	USD	3 Qtrs
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.08M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.40K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.37M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-9.96M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-232.49K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.08M	USD	1 Quarter
Weighted average shares outstanding, basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	4.36M	shares	1 Quarter
Weighted average shares outstanding, basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.50M	shares	3 Qtrs
Weighted average shares outstanding, basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10.76M	shares	1 Quarter
Basic and diluted net loss per common share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	1 Quarter
Basic and diluted net loss per common share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-1.53	USD	3 Qtrs
Basic and diluted net loss per common share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.19	USD	1 Quarter

Cash Flow Statement 67 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.37M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-9.96M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-232.49K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.08M	USD	1 Quarter
Depreciation	`Depreciation`	-	USD	1 Quarter
Depreciation	`Depreciation`	$31.22K	USD	1 Quarter
Depreciation	`Depreciation`	$53.92K	USD	3 Qtrs
Amortization of intellectual property	`AmortizationOfIntangibleAssets`	$80.61K	USD	3 Qtrs
Amortization of intellectual property	`AmortizationOfIntangibleAssets`	$17.65K	USD	1 Quarter
Fair value of common stock issued as reimbursement for expenses paid by founders	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	3 Qtrs
Fair value of common stock issued as reimbursement for expenses paid by founders	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$39.84K	USD	1 Quarter
Stock based compensation expense	`ShareBasedCompensation`	$93.10K	USD	1 Quarter
Stock based compensation expense	`ShareBasedCompensation`	-	USD	1 Quarter
Stock based compensation expense	`ShareBasedCompensation`	$174.71K	USD	3 Qtrs
Change in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$-5.78M	USD	3 Qtrs
Change in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$-276.94K	USD	1 Quarter
Change in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$909.41K	USD	3 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	1 Quarter
Non cash interest expense	`OtherNoncashExpense`	$214.09K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$342.02K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	-	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$25.82K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$353.88K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$37.88K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$647.53K	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$2.88K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$56.98K	USD	3 Qtrs
Deferred liabilities	`IncreaseDecreaseInDeferredLiabilities`	-	USD	1 Quarter
Deferred liabilities	`IncreaseDecreaseInDeferredLiabilities`	$74.89K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-199.91K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-2.67M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.79M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$40.92K	USD	1 Quarter
Deposits	`IncreaseDecreaseInDepositsInvestingActivity1`	-	USD	1 Quarter
Deposits	`IncreaseDecreaseInDepositsInvestingActivity1`	$3.05M	USD	3 Qtrs
Other assets	`PaymentsToAcquireOtherProductiveAssets`	-	USD	1 Quarter
Other assets	`PaymentsToAcquireOtherProductiveAssets`	$593.35K	USD	3 Qtrs
Application fees for intellectual property	`PaymentsToAcquireIntangibleAssets`	-	USD	1 Quarter
Application fees for intellectual property	`PaymentsToAcquireIntangibleAssets`	$6.83K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-5.45M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-40.92K	USD	1 Quarter
Issuance of common stock, net of offering costs	`ProceedsFromIssuanceOfCommonStock`	$32.86M	USD	3 Qtrs
Issuance of common stock, net of offering costs	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Increase in convertible note payable	`IncreaseDecreaseInNotesPayableCurrent`	-	USD	3 Qtrs
Increase in convertible note payable	`IncreaseDecreaseInNotesPayableCurrent`	$500.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$500.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$32.86M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$24.74M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$259.17K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.54M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$29.28M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$259.17K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.54M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$29.28M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$259.17K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	-	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$2.59K	USD	3 Qtrs
Cash paid for taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Cash paid for taxes	`IncomeTaxesPaidNet`	$2.40K	USD	3 Qtrs
Fair value of common stock issued to founders as reimbursement for expenses paid prior to inception	`StockIssued1`	-	USD	3 Qtrs
Fair value of common stock issued to founders as reimbursement for expenses paid prior to inception	`StockIssued1`	$39.84K	USD	1 Quarter
Fair value of common stock issued upon conversion of convertible notes and accrued interest	`NotesIssued1`	$6.28M	USD	3 Qtrs
Fair value of common stock issued upon conversion of convertible notes and accrued interest	`NotesIssued1`	-	USD	1 Quarter
Fair value of common stock issued upon extinguishment of beneficial conversion feature derivative liability.	`ExtinguishmentOfDerivativeLiability`	$6.28M	USD	3 Qtrs
Total non-cash financing activities	`TotalNonCashFinancingActivities`	$39.84K	USD	1 Quarter
Total non-cash financing activities	`TotalNonCashFinancingActivities`	$12.56M	USD	3 Qtrs

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Balance, beginning	`StockholdersEquity`	$-769.86K	USD	Point-in-time
Balance, beginning	`StockholdersEquity`	-	USD	Point-in-time
Balance, beginning	`StockholdersEquity`	$35.74M	USD	Point-in-time
Balance, beginning (in shares)	`CommonStockSharesOutstanding`	4.36M	shares	Point-in-time
Balance, beginning (in shares)	`CommonStockSharesOutstanding`	4.36M	shares	Point-in-time
Common stock issued as reimbursement for expenses paid for by founders	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$39.84K	USD	2 Qtrs
Common stock issued for intellectual property contributed by founders	`StockIssuedDuringPeriodValuePurchaseOfAssets`	$637.16K	USD	2 Qtrs
Issuance of financing warants	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$1.00K	USD	2 Qtrs
Issuance of consulting warrants	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued1`	$713.75K	USD	2 Qtrs
Debt discount - beneficial conversion feature on convertible notes	`AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature`	$212.16K	USD	2 Qtrs
Extinguishment of benficial conversion feature derivative liability	`ExtinguishmentOfDerivativeLiability`	$6.28M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.37M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-9.96M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-232.49K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.08M	USD	1 Quarter
Balance, ending	`StockholdersEquity`	$-769.86K	USD	Point-in-time
Balance, ending	`StockholdersEquity`	-	USD	Point-in-time
Balance, ending	`StockholdersEquity`	$35.74M	USD	Point-in-time
Balance, ending (in shares)	`CommonStockSharesOutstanding`	4.36M	shares	Point-in-time
Balance, ending (in shares)	`CommonStockSharesOutstanding`	4.36M	shares	Point-in-time

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