10-Q Filing

Aqua Metals, Inc. CIK: 1621832 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001615774-18-003517`
Period End Date	20180331
Filing Date	20180509
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	aqms-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 28 Cash Flow Statement 64

Balance Sheet 60 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
Common stock, issued	`CommonStockSharesIssued`	28.69M	shares	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsAndShortTermInvestments`	$17.50M	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsAndShortTermInvestments`	$22.79M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	27.55M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	27.55M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	28.69M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$1.33M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$882.00K	USD	Point-in-time
Inventory	`InventoryNet`	$933.00K	USD	Point-in-time
Inventory	`InventoryNet`	$1.24M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$638.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$770.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$20.39M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$25.68M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$45.73M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$46.58M	USD	Point-in-time
Intellectual property, net	`FiniteLivedIntangibleAssetsNet`	$1.46M	USD	Point-in-time
Intellectual property, net	`FiniteLivedIntangibleAssetsNet`	$1.41M	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`	$49.56M	USD	Point-in-time
Total assets	`Assets`	$69.96M	USD	Point-in-time
Total assets	`Assets`	$74.44M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.44M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.08M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.80M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.67M	USD	Point-in-time
Deferred rent, current portion	`DeferredRentCreditCurrent`	$192.00K	USD	Point-in-time
Deferred rent, current portion	`DeferredRentCreditCurrent`	$196.00K	USD	Point-in-time
Notes payable, current portion	`NotesPayableCurrent`	$382.00K	USD	Point-in-time
Notes payable, current portion	`NotesPayableCurrent`	$405.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.83M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.33M	USD	Point-in-time
Deferred rent, non-current portion	`DeferredRentCreditNoncurrent`	$722.00K	USD	Point-in-time
Deferred rent, non-current portion	`DeferredRentCreditNoncurrent`	$771.00K	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$670.00K	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$701.00K	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$712.00K	USD	Point-in-time
Notes payable, non-current portion	`LongTermNotesPayable`	$8.76M	USD	Point-in-time
Notes payable, non-current portion	`LongTermNotesPayable`	$8.84M	USD	Point-in-time
Convertible note payable, non-current portion	`ConvertibleLongTermNotesPayable`	$1.74M	USD	Point-in-time
Convertible note payable, non-current portion	`ConvertibleLongTermNotesPayable`	$1.33M	USD	Point-in-time
Total liabilities	`Liabilities`	$16.27M	USD	Point-in-time
Total liabilities	`Liabilities`	$15.48M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock; $0.001 par value; 50,000,000 shares authorized; 28,694,210 and 27,554,076 shares issued and outstanding as of March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$29.00K	USD	Point-in-time
Common stock; $0.001 par value; 50,000,000 shares authorized; 28,694,210 and 27,554,076 shares issued and outstanding as of March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$27.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$116.03M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$113.78M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-62.37M	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`	$53.68M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$74.44M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$69.96M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Product sales	`SalesRevenueGoodsGross`	-	USD	1 Quarter
Product sales	`SalesRevenueGoodsGross`	$1.73M	USD	1 Quarter
Cost of product sales	`CostOfGoodsSold`	-	USD	1 Quarter
Cost of product sales	`CostOfGoodsSold`	$5.44M	USD	1 Quarter
Research and development cost	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$2.99M	USD	1 Quarter
Research and development cost	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$1.48M	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$1.53M	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$1.77M	USD	1 Quarter
Total operating expense	`OperatingExpenses`	$8.69M	USD	1 Quarter
Total operating expense	`OperatingExpenses`	$4.51M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.51M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-6.96M	USD	1 Quarter
Interest expense	`InterestExpense`	$587.00K	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`	$17.00K	USD	1 Quarter
Total other income (expense), net	`NonoperatingIncomeExpense`	$-570.00K	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`	$-7.53M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.89M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.53M	USD	1 Quarter
Weighted average shares outstanding, basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	27.77M	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`	$-0.27	USD	1 Quarter
Basic and diluted net loss per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.26	USD	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-4.89M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.53M	USD	1 Quarter
Depreciation	`Depreciation`	$665.00K	USD	1 Quarter
Depreciation	`Depreciation`	$778.00K	USD	1 Quarter
Amortization of intellectual property	`AmortizationOfIntangibleAssets`	$36.00K	USD	1 Quarter
Amortization of intellectual property	`AmortizationOfIntangibleAssets`	$47.00K	USD	1 Quarter
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	-	USD	1 Quarter
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$11.00K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$144.00K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$161.00K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$235.00K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$42.00K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$21.00K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$22.00K	USD	1 Quarter
Non-cash convertible note interest expense	`NoncashConvertibleNoteInterestExpense`	$163.00K	USD	1 Quarter
Non-cash convertible note interest expense	`NoncashConvertibleNoteInterestExpense`	$146.00K	USD	1 Quarter
Inventory write down	`InventoryWriteDown`	$39.00K	USD	1 Quarter
Inventory write down	`InventoryWriteDown`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$444.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$238.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-267.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$301.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-132.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$144.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$307.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$83.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-53.00K	USD	1 Quarter
Deferred rent	`IncreaseDecreaseInDeferredRent`	$-43.00K	USD	1 Quarter
Deferred rent	`IncreaseDecreaseInDeferredRent`	$-46.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.15M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.96M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.23M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.34M	USD	1 Quarter
Other assets	`PaymentsToAcquireOtherProductiveAssets`	$45.00K	USD	1 Quarter
Other assets	`PaymentsToAcquireOtherProductiveAssets`	-	USD	1 Quarter
Intellectual property related expenditures	`PaymentsToAcquireIntangibleAssets`	$43.00K	USD	1 Quarter
Intellectual property related expenditures	`PaymentsToAcquireIntangibleAssets`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.34M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.32M	USD	1 Quarter
Proceeds from issuance of common stock, net of transaction costs	`ProceedsFromIssuanceOfCommonStock`	$2.11M	USD	1 Quarter
Proceeds from issuance of common stock, net of transaction costs	`ProceedsFromIssuanceOfCommonStock`	$10.65M	USD	1 Quarter
Payments on notes payable	`RepaymentsOfDebt`	$44.00K	USD	1 Quarter
Payments on notes payable	`RepaymentsOfDebt`	$69.00K	USD	1 Quarter
Payments on capital leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$33.00K	USD	1 Quarter
Payments on capital leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$39.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$10.58M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.00M	USD	1 Quarter
Net (decrease) increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-5.30M	USD	1 Quarter
Net (decrease) increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$4.11M	USD	1 Quarter
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`	$17.50M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$30.69M	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`	$26.58M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.50M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$30.69M	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`	$504.00K	USD	1 Quarter
Change in property and equipment resulting from change in accounts payable	`IncreaseInPropertyAndEquipmentResultingFromIncreaseInAccountsPayable`	$761.00K	USD	1 Quarter
Change in property and equipment resulting from change in accrued expenses	`IncreaseInPropertyAndEquipmentResultingFromIncreaseInAccruedExpenses`	$-213.00K	USD	1 Quarter
Change in property and equipment resulting from change in accrued expenses	`IncreaseInPropertyAndEquipmentResultingFromIncreaseInAccruedExpenses`	$-768.00K	USD	1 Quarter
Asset retirement obligation offset with asset retirement cost (property and equipment)	`AssetRetirementObligationOffsetWithAssetRetirementCostPropertyAndEquipment`	-	USD	1 Quarter
Asset retirement obligation offset with asset retirement cost (property and equipment)	`AssetRetirementObligationOffsetWithAssetRetirementCostPropertyAndEquipment`	$670.00K	USD	1 Quarter

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