10-Q Filing

Aqua Metals, Inc. CIK: 1621832 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001621832-19-000043`
Period End Date	20190331
Filing Date	20190509
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	aqms-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 28 Cash Flow Statement 78 Stockholders Equity 17

Balance Sheet 66 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 (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	38.93M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.34M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.89M	USD	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	44.73M	shares	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	44.73M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$426.00K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$725.00K	USD	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	38.93M	shares	Point-in-time
Inventory	`InventoryNet`	$1.22M	USD	Point-in-time
Inventory	`InventoryNet`	$765.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.16M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$370.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$22.75M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$18.14M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$45.55M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$46.59M	USD	Point-in-time
Intellectual property, net	`FiniteLivedIntangibleAssetsNet`	$1.27M	USD	Point-in-time
Intellectual property, net	`FiniteLivedIntangibleAssetsNet`	$1.13M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.80M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.33M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$51.05M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$48.62M	USD	Point-in-time
Total assets	`Assets`	$69.19M	USD	Point-in-time
Total assets	`Assets`	$71.37M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.04M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.09M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$4.45M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$5.20M	USD	Point-in-time
Lease liability, current portion	`OperatingandFinanceLiabilityCurrent`	$505.00K	USD	Point-in-time
Lease liability, current portion	`OperatingandFinanceLiabilityCurrent`	$121.00K	USD	Point-in-time
Deferred rent, current portion	`DeferredRentCreditCurrent`	$8.00K	USD	Point-in-time
Notes payable, current portion	`NotesPayableCurrent`	$274.00K	USD	Point-in-time
Notes payable, current portion	`NotesPayableCurrent`	$311.00K	USD	Point-in-time
Convertible note payable, current portion	`ConvertibleNotesPayableCurrent`	$4.08M	USD	Point-in-time
Convertible note payable, current portion	`ConvertibleNotesPayableCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.26M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$11.80M	USD	Point-in-time
Deferred rent, non-current portion	`DeferredRentCreditNoncurrent`	-	USD	Point-in-time
Deferred rent, non-current portion	`DeferredRentCreditNoncurrent`	$27.00K	USD	Point-in-time
Lease liability, non-current portion	`OperatingandFinanceLiabilityNoncurrent`	$110.00K	USD	Point-in-time
Lease liability, non-current portion	`OperatingandFinanceLiabilityNoncurrent`	$1.28M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$756.00K	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$700.00K	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$745.00K	USD	Point-in-time
Notes payable, non-current portion	`LongTermNotesPayable`	$8.60M	USD	Point-in-time
Notes payable, non-current portion	`LongTermNotesPayable`	$8.61M	USD	Point-in-time
Total liabilities	`Liabilities`	$18.91M	USD	Point-in-time
Total liabilities	`Liabilities`	$21.28M	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; 44,727,697 and 38,932,437 shares issued and outstanding as of March 31, 2019 and December 31, 2018, respectively	`CommonStockValue`	$39.00K	USD	Point-in-time
Common stock; $0.001 par value; 50,000,000 shares authorized; 44,727,697 and 38,932,437 shares issued and outstanding as of March 31, 2019 and December 31, 2018, respectively	`CommonStockValue`	$45.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$145.15M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$157.04M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-95.10M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-106.80M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$53.68M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$58.97M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$50.28M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$50.09M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$69.19M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$71.37M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Product sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$437.00K	USD	1 Quarter
Product sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.73M	USD	1 Quarter
Cost of product sales	`CostOfGoodsAndServicesSold`	$5.44M	USD	1 Quarter
Cost of product sales	`CostOfGoodsAndServicesSold`	$4.68M	USD	1 Quarter
Research and development cost	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$620.00K	USD	1 Quarter
Research and development cost	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$1.48M	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$4.02M	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`	$9.32M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-6.96M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-8.88M	USD	1 Quarter
Interest expense	`InterestExpense`	$587.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$2.89M	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$63.00K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$17.00K	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-2.83M	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-570.00K	USD	1 Quarter
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-7.53M	USD	1 Quarter
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-11.71M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-11.71M	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`	43.51M	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`	$-0.27	USD	1 Quarter

Cash Flow Statement 78 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-11.71M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.53M	USD	1 Quarter
Depreciation	`Depreciation`	$778.00K	USD	1 Quarter
Depreciation	`Depreciation`	$843.00K	USD	1 Quarter
Amortization of intellectual property	`AmortizationOfIntangibleAssets`	$48.00K	USD	1 Quarter
Amortization of intellectual property	`AmortizationOfIntangibleAssets`	$47.00K	USD	1 Quarter
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$11.00K	USD	1 Quarter
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$11.00K	USD	1 Quarter
Fair value of common stock issued for consulting services	`Fairvalueofcommonstockissuedforconsultingservices`	-	USD	1 Quarter
Fair value of common stock issued for consulting services	`Fairvalueofcommonstockissuedforconsultingservices`	$1.19M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.07M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$144.00K	USD	1 Quarter
Warrant expense	`FairValueAdjustmentOfWarrants`	-	USD	1 Quarter
Warrant expense	`FairValueAdjustmentOfWarrants`	$578.00K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$235.00K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$29.00K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$21.00K	USD	1 Quarter
Non-cash convertible note interest expense	`NonCashConvertibleNoteInterestExpense`	$163.00K	USD	1 Quarter
Non-cash convertible note interest expense	`NonCashConvertibleNoteInterestExpense`	$2.56M	USD	1 Quarter
Non-cash interest expense	`NonCashInterestExpense`	-	USD	1 Quarter
Non-cash interest expense	`NonCashInterestExpense`	$101.00K	USD	1 Quarter
Loss on disposal of Ebonex asset	`ImpairmentOfIntangibleAssetsFinitelived`	$90.00K	USD	1 Quarter
Loss on disposal of Ebonex asset	`ImpairmentOfIntangibleAssetsFinitelived`	-	USD	1 Quarter
Loss on disposal of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-79.00K	USD	1 Quarter
Loss on disposal of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Inventory adjustment	`InventoryWriteDown`	$-119.00K	USD	1 Quarter
Inventory adjustment	`InventoryWriteDown`	$39.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$444.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-299.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-267.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$332.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$786.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-132.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$493.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$144.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-684.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$83.00K	USD	1 Quarter
Deferred rent	`IncreaseDecreaseInDeferredRent`	$-35.00K	USD	1 Quarter
Deferred rent	`IncreaseDecreaseInDeferredRent`	$-46.00K	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$21.00K	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	-	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.30M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.96M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.61M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.34M	USD	1 Quarter
Other assets	`ProceedsFromSaleOfOtherProductiveAssets`	$38.00K	USD	1 Quarter
Other assets	`ProceedsFromSaleOfOtherProductiveAssets`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.57M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.34M	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`	$9.06M	USD	1 Quarter
Payments on notes payable	`RepaymentsOfDebt`	$90.00K	USD	1 Quarter
Payments on notes payable	`RepaymentsOfDebt`	$69.00K	USD	1 Quarter
Payments on finance leases	`RepaymentsOfLongTermCapitalLeaseObligations`	-	USD	1 Quarter
Payments on finance leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$39.00K	USD	1 Quarter
Payments on convertible note	`RepaymentsOfConvertibleDebt`	-	USD	1 Quarter
Payments on convertible note	`RepaymentsOfConvertibleDebt`	$6.65M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.32M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.00M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-5.30M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-5.56M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$22.79M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$15.34M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$20.89M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.50M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$22.79M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$15.34M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$20.89M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.50M	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`	$455.00K	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`	$103.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$2.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$2.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$188.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$168.00K	USD	1 Quarter

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Public Offering January 2019 Transaction Cost	`PublicOfferingJanuary2019TransactionCost`	$739.00K	USD	Point-in-time
Allocated Transaction Cost	`AllocatedTransactionCost`	$10.00K	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$53.68M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$58.97M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$50.28M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$50.09M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$144.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$1.07M	USD	1 Quarter
Warrants related to Veolia agreement	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$578.00K	USD	1 Quarter
Proceeds from common stock issued for consulting services	`StockIssuedDuringPeriodValueIssuedForServices`	$1.19M	USD	1 Quarter
Proceeds from issuance of common stock	`StockIssuedDuringPeriodValueNewIssues`	$4.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-11.71M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.53M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$53.68M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$58.97M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$50.28M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$50.09M	USD	Point-in-time

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