10-K Filing

Aqua Metals, Inc. CIK: 1621832 FY 2015

Filing Information

Form Type	10-K
Accession Number	`0001615774-16-004637`
Period End Date	20151231
Filing Date	20160328
Fiscal Year	2015
Fiscal Period	FY
XBRL Instance	aqms-20151231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 28 Cash Flow Statement 86 Stockholders Equity 25

Balance Sheet 65 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, authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	5,000.00	shares	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.14M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	14.14M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.54M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	4.36M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$11.67M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	14.14M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	4.36M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$146.99K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$13.41K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$31.95M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.55M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$8.81M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$245.64K	USD	Point-in-time
Intellectual property, net	`FiniteLivedIntangibleAssetsNet`	$1.07M	USD	Point-in-time
Intellectual property, net	`FiniteLivedIntangibleAssetsNet`	$1.03M	USD	Point-in-time
Equipment deposits	`DepositsAssetsNoncurrent`	$3.85M	USD	Point-in-time
Equipment deposits	`DepositsAssetsNoncurrent`	-	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.59M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	-	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$1.27M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$15.32M	USD	Point-in-time
Total assets	`Assets`	$5.82M	USD	Point-in-time
Total assets	`Assets`	$47.28M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.19M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$40.31K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$80.52K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$12.29K	USD	Point-in-time
Short term notes payable	`NotesPayableCurrent`	-	USD	Point-in-time
Short term notes payable	`NotesPayableCurrent`	$44.97K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$65.59K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	-	USD	Point-in-time
Convertible notes payable, net	`ConvertibleDebtCurrent`	-	USD	Point-in-time
Convertible notes payable, net	`ConvertibleDebtCurrent`	$5.09M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.32M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.21M	USD	Point-in-time
Deferred rent	`DeferredTaxLiabilitiesNoncurrent`	-	USD	Point-in-time
Deferred rent	`DeferredTaxLiabilitiesNoncurrent`	$1.07M	USD	Point-in-time
Long term notes payable, net	`LongTermNotesPayable`	-	USD	Point-in-time
Long term notes payable, net	`LongTermNotesPayable`	$9.22M	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesNoncurrent`	$1.38M	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesNoncurrent`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$13.61M	USD	Point-in-time
Total liabilities	`Liabilities`	$6.59M	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; 14,137,442 and 4,363,641 shares issued and outstanding at December 31, 2015 and December 31, 2014, respectively	`CommonStockValue`	$4.36K	USD	Point-in-time
Common stock; $0.001 par; 50,000,000 shares authorized; 14,137,442 and 4,363,641 shares issued and outstanding at December 31, 2015 and December 31, 2014, respectively	`CommonStockValue`	$14.14K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.60M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$48.36M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.37M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-14.71M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-769.36K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	-	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$33.67M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$5.82M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$47.28M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Operations and development costs	`OperationsAndDevelopmentCosts`	$2.28M	USD	Annual
Operations and development costs	`OperationsAndDevelopmentCosts`	$231.04K	USD	2 Qtrs
Business development and management costs	`BusinessDevelopment`	$3.17M	USD	Annual
Business development and management costs	`BusinessDevelopment`	$1.18M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$5.45M	USD	Annual
Total operating expenses	`OperatingExpenses`	$1.41M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.41M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-5.45M	USD	Annual
Increase in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$-1.17M	USD	2 Qtrs
Increase in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$-5.78M	USD	Annual
Interest expense	`InterestExpense`	$1.13M	USD	Annual
Interest expense	`InterestExpense`	$216.92K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$19.22K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$1.04K	USD	2 Qtrs
Other income	`OtherNonoperatingIncome`	$6.50K	USD	Annual
Other income	`OtherNonoperatingIncome`	$370.00	USD	2 Qtrs
Total other expenses, net	`NonoperatingIncomeExpense`	$-6.88M	USD	Annual
Total other expenses, net	`NonoperatingIncomeExpense`	$-1.39M	USD	2 Qtrs
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-12.33M	USD	Annual
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.79M	USD	2 Qtrs
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-421.04K	USD	2 Qtrs
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$1.60K	USD	Annual
Net loss	`NetIncomeLoss`	$-12.33M	USD	Annual
Net loss	`NetIncomeLoss`	$-2.37M	USD	2 Qtrs
Weighted average shares outstanding, basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	8.40M	shares	Annual
Weighted average shares outstanding, basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	4.36M	shares	2 Qtrs
Basic and diluted net loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-1.47	USD	Annual
Basic and diluted net loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.54	USD	2 Qtrs

Cash Flow Statement 86 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-12.33M	USD	Annual
Net loss	`NetIncomeLoss`	$-2.37M	USD	2 Qtrs
Depreciation	`Depreciation`	$1.30K	USD	2 Qtrs
Depreciation	`Depreciation`	$89.06K	USD	Annual
Amortization of intellectual property	`AmortizationOfIntangibleAssets`	$44.12K	USD	2 Qtrs
Amortization of intellectual property	`AmortizationOfIntangibleAssets`	$109.84K	USD	Annual
Fair value of warrants issued for consulting services	`FairValueOfWarrantIssuedForConsultingServices`	$713.75K	USD	2 Qtrs
Fair value of warrants issued for consulting services	`FairValueOfWarrantIssuedForConsultingServices`	$64.73K	USD	Annual
Fair value of common stock issued for consulting services	`FairValueOfCommonStockIssuedForConsultingServices`	$97.80K	USD	Annual
Fair value of common stock issued for consulting services	`FairValueOfCommonStockIssuedForConsultingServices`	-	USD	2 Qtrs
Fair value of common stock issued as reimbursement for expenses paid by founders	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$39.84K	USD	2 Qtrs
Fair value of common stock issued as reimbursement for expenses paid by founders	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	Annual
Stock option based compensation	`ShareBasedCompensation`	$300.77K	USD	Annual
Stock option based compensation	`ShareBasedCompensation`	-	USD	2 Qtrs
Increase in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$-1.17M	USD	2 Qtrs
Increase in fair value of derivative liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$-5.78M	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$151.57K	USD	2 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$909.41K	USD	Annual
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$5.11K	USD	Annual
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	-	USD	2 Qtrs
Non-cash convertible note interest expense	`OtherNoncashExpense`	-	USD	2 Qtrs
Non-cash convertible note interest expense	`OtherNoncashExpense`	$214.09K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$13.41K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$95.20K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$40.31K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$3.15M	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$77.88K	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$68.23K	USD	Annual
Deferred Income tax benefit	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-421.84K	USD	2 Qtrs
Deferred Income tax benefit	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	-	USD	Annual
Deferred rent	`IncreaseDecreaseInDeferredRent`	-	USD	2 Qtrs
Deferred rent	`IncreaseDecreaseInDeferredRent`	$163.49K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.48M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-567.61K	USD	2 Qtrs
Increase in restricted cash	`IncreaseInRestrictedCash`	$11.67M	USD	Annual
Increase in restricted cash	`IncreaseInRestrictedCash`	-	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$246.94K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.78M	USD	Annual
Deposits	`IncreaseDecreaseInDepositsInvestingActivity1`	-	USD	2 Qtrs
Deposits	`IncreaseDecreaseInDepositsInvestingActivity1`	$3.85M	USD	Annual
Other assets	`PaymentsToAcquireOtherProductiveAssets`	$1.59M	USD	Annual
Other assets	`PaymentsToAcquireOtherProductiveAssets`	-	USD	2 Qtrs
Intellectual property	`PaymentsToAcquireIntangibleAssets`	$146.40K	USD	Annual
Intellectual property	`PaymentsToAcquireIntangibleAssets`	$13.68K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-260.62K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-25.04M	USD	Annual
Proceeds from issuance of common stock, net of offering costs	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Proceeds from issuance of common stock, net of offering costs	`ProceedsFromIssuanceOfCommonStock`	$32.86M	USD	Annual
Proceeds from issuance of warrants	`ProceedsFromIssuanceOfWarrants`	$1.50K	USD	2 Qtrs
Proceeds from issuance of warrants	`ProceedsFromIssuanceOfWarrants`	-	USD	Annual
Proceeds from notes payable, net of issuance costs	`ProceedsFromRepaymentsOfDebt`	$9.26M	USD	Annual
Proceeds from notes payable, net of issuance costs	`ProceedsFromRepaymentsOfDebt`	-	USD	2 Qtrs
Proceeds from convertible note payable	`IncreaseDecreaseInNotesPayableCurrent`	$5.36M	USD	2 Qtrs
Proceeds from convertible note payable	`IncreaseDecreaseInNotesPayableCurrent`	-	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$42.12M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$5.36M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$15.60M	USD	Annual
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$4.54M	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$20.14M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.54M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$20.14M	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`	-	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$103.08K	USD	Annual
Cash paid for interest	`InterestPaid`	$262.00	USD	2 Qtrs
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	2 Qtrs
Cash paid for income taxes	`IncomeTaxesPaidNet`	$1.60K	USD	Annual
Tenant improvement allowances	`PaymentsForTenantImprovements`	-	USD	2 Qtrs
Tenant improvement allowances	`PaymentsForTenantImprovements`	$869.26K	USD	Annual
Fair value of consulting warrants	`NoncashFairValueOfConsultingWarrants`	$64.73K	USD	Annual
Fair value of consulting warrants	`NoncashFairValueOfConsultingWarrants`	$715.25K	USD	2 Qtrs
Fair value of financing warrants	`FairValueOfFinancingWarrants`	-	USD	2 Qtrs
Fair value of financing warrants	`FairValueOfFinancingWarrants`	$-881.36K	USD	Annual
Fair value of common stock issued for intellectual property, net of tax	`StockIssued2`	-	USD	Annual
Fair value of common stock issued for intellectual property, net of tax	`StockIssued2`	$637.16K	USD	2 Qtrs
Fair value of common stock issued to founders as reimbursement for expenses paid prior to inception	`StockIssued1`	$39.84K	USD	2 Qtrs
Fair value of common stock issued to founders as reimbursement for expenses paid prior to inception	`StockIssued1`	-	USD	Annual
Fair value of common stock issued upon conversion of convertible notes and accrued interest	`NotesIssued1`	$6.28M	USD	Annual
Fair value of common stock issued upon conversion of convertible notes and accrued interest	`NotesIssued1`	-	USD	2 Qtrs
Increase in additional paid in capital upon extinguishment of beneficial conversion feature derivative liability	`ExtinguishmentOfDerivativeLiability`	-	USD	2 Qtrs
Increase in additional paid in capital upon extinguishment of beneficial conversion feature derivative liability	`ExtinguishmentOfDerivativeLiability`	$6.28M	USD	Annual
Fair value of common stock issued to consultants	`StockIssued3`	-	USD	2 Qtrs
Fair value of common stock issued to consultants	`StockIssued3`	$97.80K	USD	Annual
Total non-cash financing activities	`TotalNonCashFinancingActivities`	$1.39M	USD	2 Qtrs
Total non-cash financing activities	`TotalNonCashFinancingActivities`	$13.60M	USD	Annual

Stockholders Equity 25 line items

Line Item	Tag	Value	Unit	Period
Balance, beginning	`StockholdersEquity`	$-769.36K	USD	Point-in-time
Balance, beginning	`StockholdersEquity`	-	USD	Point-in-time
Balance, beginning	`StockholdersEquity`	$33.67M	USD	Point-in-time
Balance, beginning (in shares)	`CommonStockSharesOutstanding`	14.14M	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 consulting warrants	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued1`	$715.25K	USD	2 Qtrs
Debt discount - beneficial conversion feature on convertible notes	`AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature`	$212.16K	USD	2 Qtrs
Common stock issued upon initial public offering ("IPO"), net of offering costs	`StockIssuedDuringPeriodValueNewIssues`	$29.90M	USD	Annual
Common stock issued for over allotment of the IPO, net of offering costs	`StockIssuedDuringPeriodValueNewIssues1`	$2.96M	USD	Annual
Extinguishment of benficial conversion feature derivative liability	`ExtinguishmentOfDerivativeLiability`	-	USD	2 Qtrs
Extinguishment of benficial conversion feature derivative liability	`ExtinguishmentOfDerivativeLiability`	$6.28M	USD	Annual
Conversion of convertible notes and accrued interest upon completion of the IPO	`StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments`	$6.28M	USD	Annual
Reclassification of financing warrants (from derivative liability to APIC) upon completion of IPO	`ReclassificationOfFinancingWarrantsFromDerivativeLiabilityToApicUponCompletionOfIPO`	$881.36K	USD	Annual
Stock based compensation - stock options	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$300.77K	USD	Annual
Stock issued for consulting services	`StockIssuedDuringPeriodValueIssuedForServices`	$97.80K	USD	Annual
Warrants issued for consulting services	`AdjustmentsToAdditionalPaidInCapitalWarrantIssuedForServices`	$64.73K	USD	Annual
Net loss	`NetIncomeLoss`	$-12.33M	USD	Annual
Net loss	`NetIncomeLoss`	$-2.37M	USD	2 Qtrs
Balance, ending	`StockholdersEquity`	$-769.36K	USD	Point-in-time
Balance, ending	`StockholdersEquity`	-	USD	Point-in-time
Balance, ending	`StockholdersEquity`	$33.67M	USD	Point-in-time
Balance, ending (in shares)	`CommonStockSharesOutstanding`	14.14M	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.