10-Q Filing

Aqua Metals, Inc. CIK: 1621832 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001615774-17-002178`
Period End Date	20170331
Filing Date	20170510
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	aqms-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 24 Cash Flow Statement 68 Stockholders Equity 13

Balance Sheet 62 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, authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.24M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$30.11M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	17.88M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.14M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	19.96M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$25.46M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	19.96M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	17.88M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$1.12M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$576.00K	USD	Point-in-time
Inventory	`InventoryNet`	$59.00K	USD	Point-in-time
Inventory	`InventoryNet`	$297.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$729.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.03M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$27.37M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$32.02M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$41.39M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$43.62M	USD	Point-in-time
Intellectual property, net	`FiniteLivedIntangibleAssetsNet`	$1.14M	USD	Point-in-time
Intellectual property, net	`FiniteLivedIntangibleAssetsNet`	$1.14M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.68M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.63M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$46.44M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$44.16M	USD	Point-in-time
Total assets	`Assets`	$71.53M	USD	Point-in-time
Total assets	`Assets`	$78.46M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.57M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.64M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.98M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.15M	USD	Point-in-time
Deferred rent, current portion	`DeferredRentCreditCurrent`	$180.00K	USD	Point-in-time
Deferred rent, current portion	`DeferredRentCreditCurrent`	$177.00K	USD	Point-in-time
Notes payable, current portion	`NotesPayableCurrent`	$307.00K	USD	Point-in-time
Notes payable, current portion	`NotesPayableCurrent`	$314.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.29M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.03M	USD	Point-in-time
Deferred rent, non-current portion	`DeferredRentCreditNoncurrent`	$917.00K	USD	Point-in-time
Deferred rent, non-current portion	`DeferredRentCreditNoncurrent`	$963.00K	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$670.00K	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	-	USD	Point-in-time
Notes payable, non-current portion	`LongTermNotesPayable`	$9.16M	USD	Point-in-time
Notes payable, non-current portion	`LongTermNotesPayable`	$9.24M	USD	Point-in-time
Convertible note payable, non-current portion	`ConvertibleLongTermNotesPayable`	$307.00K	USD	Point-in-time
Convertible note payable, non-current portion	`ConvertibleLongTermNotesPayable`	$507.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$15.55M	USD	Point-in-time
Total liabilities	`Liabilities`	$14.54M	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; 19,960,356 and 17,878,725 shares issued and outstanding as of March 31, 2017 and December 31, 2016, respectively	`CommonStockValue`	$20.00K	USD	Point-in-time
Common stock; $0.001 par value; 50,000,000 shares authorized; 19,960,356 and 17,878,725 shares issued and outstanding as of March 31, 2017 and December 31, 2016, respectively	`CommonStockValue`	$18.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$85.23M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$96.05M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-28.26M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-33.16M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$56.99M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$62.91M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$78.46M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$71.53M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Operations and development costs	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$883.00K	USD	1 Quarter
Operations and development costs	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$2.99M	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$1.29M	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$1.53M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.18M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.51M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.51M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.18M	USD	1 Quarter
Interest expense	`InterestExpense`	$2.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$388.00K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$11.00K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$7.00K	USD	1 Quarter
Total other income (expense), net	`NonoperatingIncomeExpense`	$5.00K	USD	1 Quarter
Total other income (expense), net	`NonoperatingIncomeExpense`	$-377.00K	USD	1 Quarter
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.89M	USD	1 Quarter
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.17M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.89M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.17M	USD	1 Quarter
Weighted average shares outstanding, basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	14.14M	shares	1 Quarter
Weighted average shares outstanding, basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	18.79M	shares	1 Quarter
Basic and diluted net loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.15	USD	1 Quarter
Basic and diluted net loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.26	USD	1 Quarter

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-4.89M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.17M	USD	1 Quarter
Depreciation	`Depreciation`	$665.00K	USD	1 Quarter
Depreciation	`Depreciation`	$78.00K	USD	1 Quarter
Amortization of intellectual property	`AmortizationOfIntangibleAssets`	$31.00K	USD	1 Quarter
Amortization of intellectual property	`AmortizationOfIntangibleAssets`	$36.00K	USD	1 Quarter
Fair value of warrants issued for consulting services	`FairValueOfWarrantIssuedForConsultingServices`	-	USD	1 Quarter
Fair value of warrants issued for consulting services	`FairValueOfWarrantIssuedForConsultingServices`	$15.00K	USD	1 Quarter
Stock option compensation	`ShareBasedCompensation`	$161.00K	USD	1 Quarter
Stock option compensation	`ShareBasedCompensation`	$208.00K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$42.00K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$9.00K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$22.00K	USD	1 Quarter
Non-cash convertible note interest expense	`NoncashConvertibleNoteInterestExpense`	-	USD	1 Quarter
Non-cash convertible note interest expense	`NoncashConvertibleNoteInterestExpense`	$146.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$238.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	-	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$18.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$301.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$307.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$89.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-53.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$84.00K	USD	1 Quarter
Deferred rent	`IncreaseDecreaseInDeferredRent`	$-43.00K	USD	1 Quarter
Deferred rent	`IncreaseDecreaseInDeferredRent`	$78.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-4.15M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.60M	USD	1 Quarter
Decrease in restricted cash	`DecreaseInRestrictedCash`	$548.00K	USD	1 Quarter
Decrease in restricted cash	`DecreaseInRestrictedCash`	$1.13M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.23M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.40M	USD	1 Quarter
Other assets	`PaymentsToAcquireOtherProductiveAssets`	-	USD	1 Quarter
Other assets	`PaymentsToAcquireOtherProductiveAssets`	$45.00K	USD	1 Quarter
Intellectual property related expenditures	`PaymentsToAcquireIntangibleAssets`	$43.00K	USD	1 Quarter
Intellectual property related expenditures	`PaymentsToAcquireIntangibleAssets`	$28.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.77M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-3.29M	USD	1 Quarter
Proceeds from issuance of common stock, net of transaction costs	`ProceedsFromIssuanceOfCommonStock`	$10.65M	USD	1 Quarter
Proceeds from issuance of common stock, net of transaction costs	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Payments on notes payable	`RepaymentsOfDebt`	-	USD	1 Quarter
Payments on notes payable	`RepaymentsOfDebt`	$44.00K	USD	1 Quarter
Payments on capital leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$33.00K	USD	1 Quarter
Payments on capital leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$4.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$10.58M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-4.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.90M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$4.66M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.24M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$30.11M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$20.14M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$25.46M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.24M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$30.11M	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`	$25.46M	USD	Point-in-time
Tenant improvement allowances	`AllowancesForTenantImprovement`	-	USD	1 Quarter
Tenant improvement allowances	`AllowancesForTenantImprovement`	$78.00K	USD	1 Quarter
Capital lease	`CapitalLease`	-	USD	1 Quarter
Capital lease	`CapitalLease`	$101.00K	USD	1 Quarter
Increase in property and equipment resulting from increase in accounts payable	`IncreaseInPropertyAndEquipmentResultingFromIncreaseInAccountsPayable`	$3.07M	USD	1 Quarter
Increase in property and equipment resulting from increase in accounts payable	`IncreaseInPropertyAndEquipmentResultingFromIncreaseInAccountsPayable`	$761.00K	USD	1 Quarter
Change in property and equipment resulting from change in accrued expenses	`IncreaseInPropertyAndEquipmentResultingFromIncreaseInAccruedExpenses`	$1.05M	USD	1 Quarter
Change in property and equipment resulting from change in accrued expenses	`IncreaseInPropertyAndEquipmentResultingFromIncreaseInAccruedExpenses`	$-768.00K	USD	1 Quarter
Decrease in restricted cash resulting from a decrease in accounts payable	`DecreaseInRestrictedCashResultingFromDecreaseInAccountsPayable`	$2.64M	USD	1 Quarter
Decrease in restricted cash resulting from a decrease in accounts payable	`DecreaseInRestrictedCashResultingFromDecreaseInAccountsPayable`	-	USD	1 Quarter
Asset retirement obligation offset with asset retirement cost (property and equipment)	`AssetRetirementObligationOffsetWithAssetRetirementCostPropertyAndEquipment`	$670.00K	USD	1 Quarter
Asset retirement obligation offset with asset retirement cost (property and equipment)	`AssetRetirementObligationOffsetWithAssetRetirementCostPropertyAndEquipment`	-	USD	1 Quarter

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Allocated transaction cost	`AdjustmentsToAdditionalPaidInCapitalAllocatedTransactionCost`	$67.00K	USD	1 Quarter
Balance at beginning	`StockholdersEquity`	$56.99M	USD	Point-in-time
Balance at beginning	`StockholdersEquity`	$62.91M	USD	Point-in-time
Stock based compensation - stock options	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$161.00K	USD	1 Quarter
Cashless exercise of warrant	`CashlessExerciseOfWarrantInValue`	-	USD	1 Quarter
Exercise of warrants to purchase common stock	`StockIssuedDuringPeriodValueWarrantExercised`	$15.00K	USD	1 Quarter
Exercise of options to purchase common stock	`StockIssuedDuringPeriodValueStockOptionsExercised`	$67.00K	USD	1 Quarter
Exercise of options to purchase common stock (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	18,773.00	shares	1 Quarter
Common stock issued for cash in February 2017 from Johnson Controls, net of $67 transaction cost	`StockIssuedDuringPeriodValueNewIssues`	$10.57M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.89M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.17M	USD	1 Quarter
Balance at end	`StockholdersEquity`	$56.99M	USD	Point-in-time
Balance at end	`StockholdersEquity`	$62.91M	USD	Point-in-time

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