10-Q Filing

Aqua Metals, Inc. CIK: 1621832 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001621832-20-000069`
Period End Date	20200331
Filing Date	20200430
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	aqms-20200331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 30 Cash Flow Statement 81 Stockholders Equity 15

Balance Sheet 63 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`	100.00M	shares	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.39M	USD	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	58.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.58M	USD	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	59.84M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	-	USD	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	58.00M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$244.00K	USD	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	59.84M	shares	Point-in-time
Insurance proceeds receivable	`InsuranceSettlementsReceivableCurrent`	$17.45M	USD	Point-in-time
Insurance proceeds receivable	`InsuranceSettlementsReceivableCurrent`	$9.95M	USD	Point-in-time
Inventory	`InventoryNet`	$1.26M	USD	Point-in-time
Inventory	`InventoryNet`	$1.21M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$981.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$423.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$27.50M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$17.96M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$37.55M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$37.64M	USD	Point-in-time
Intellectual property, net	`FiniteLivedIntangibleAssetsNet`	$954.00K	USD	Point-in-time
Intellectual property, net	`FiniteLivedIntangibleAssetsNet`	$999.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.31M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$5.93M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$41.95M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$44.43M	USD	Point-in-time
Total assets	`Assets`	$62.40M	USD	Point-in-time
Total assets	`Assets`	$69.45M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.12M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.83M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$4.13M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.42M	USD	Point-in-time
Lease liability, current portion	`OperatingandFinanceLiabilityCurrent`	$552.00K	USD	Point-in-time
Lease liability, current portion	`OperatingandFinanceLiabilityCurrent`	$568.00K	USD	Point-in-time
Notes payable, current portion	`NotesPayableCurrent`	$310.00K	USD	Point-in-time
Notes payable, current portion	`NotesPayableCurrent`	$296.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.42M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$9.81M	USD	Point-in-time
Lease liability, non-current portion	`OperatingandFinanceLiabilityNoncurrent`	$714.00K	USD	Point-in-time
Lease liability, non-current portion	`OperatingandFinanceLiabilityNoncurrent`	$861.00K	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$790.00K	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$700.00K	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$802.00K	USD	Point-in-time
Notes payable, non-current portion	`LongTermNotesPayable`	$8.32M	USD	Point-in-time
Notes payable, non-current portion	`LongTermNotesPayable`	$8.40M	USD	Point-in-time
Total liabilities	`Liabilities`	$16.25M	USD	Point-in-time
Total liabilities	`Liabilities`	$19.86M	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; 100,000,000 shares authorized; 59,836,897 and 57,997,780 shares issued and outstanding as of March 31, 2020 and December 31, 2019, respectively	`CommonStockValue`	$58.00K	USD	Point-in-time
Common stock; $0.001 par value; 100,000,000 shares authorized; 59,836,897 and 57,997,780 shares issued and outstanding as of March 31, 2020 and December 31, 2019, respectively	`CommonStockValue`	$60.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$190.40M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$189.42M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-139.89M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-144.32M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$50.09M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$50.28M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$49.59M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$46.14M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$62.40M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$69.45M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Product sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$437.00K	USD	1 Quarter
Product sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$18.00K	USD	1 Quarter
Cost of product sales	`CostOfGoodsAndServicesSold`	$4.68M	USD	1 Quarter
Cost of product sales	`CostOfGoodsAndServicesSold`	$1.45M	USD	1 Quarter
Research and development cost	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$620.00K	USD	1 Quarter
Research and development cost	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$242.00K	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$4.02M	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpense`	$2.38M	USD	1 Quarter
Total operating expense	`CostsAndExpenses`	$9.32M	USD	1 Quarter
Total operating expense	`CostsAndExpenses`	$4.08M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-8.88M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.06M	USD	1 Quarter
Insurance proceeds net of related expenses	`LossFromCatastrophes`	-	USD	1 Quarter
Insurance proceeds net of related expenses	`LossFromCatastrophes`	$203.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$183.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$2.89M	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$22.00K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$63.00K	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-2.83M	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-364.00K	USD	1 Quarter
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-11.71M	USD	1 Quarter
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.43M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.43M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-11.71M	USD	1 Quarter
Weighted average shares outstanding, basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	43.51M	shares	1 Quarter
Weighted average shares outstanding, basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	59.58M	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`	$-0.07	USD	1 Quarter

Cash Flow Statement 81 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-4.43M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-11.71M	USD	1 Quarter
Depreciation	`DepreciationAndRightofUseAssetAmortization`	$843.00K	USD	1 Quarter
Depreciation	`DepreciationAndRightofUseAssetAmortization`	$612.00K	USD	1 Quarter
Amortization of intellectual property	`AmortizationOfIntangibleAssets`	$48.00K	USD	1 Quarter
Amortization of intellectual property	`AmortizationOfIntangibleAssets`	$45.00K	USD	1 Quarter
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$12.00K	USD	1 Quarter
Accretion of asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$11.00K	USD	1 Quarter
Fair value of common stock issued for consulting services	`Fairvalueofcommonstockissuedforconsultingservices`	$1.19M	USD	1 Quarter
Fair value of common stock issued for consulting services	`Fairvalueofcommonstockissuedforconsultingservices`	$24.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$956.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.07M	USD	1 Quarter
Warrant expense	`FairValueAdjustmentOfWarrants`	$578.00K	USD	1 Quarter
Warrant expense	`FairValueAdjustmentOfWarrants`	-	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$29.00K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$9.00K	USD	1 Quarter
Non-cash convertible note interest expense	`NonCashConvertibleNoteInterestExpense`	$2.56M	USD	1 Quarter
Non-cash convertible note interest expense	`NonCashConvertibleNoteInterestExpense`	-	USD	1 Quarter
Non-cash interest expense	`NonCashInterestExpense`	$101.00K	USD	1 Quarter
Non-cash interest expense	`NonCashInterestExpense`	-	USD	1 Quarter
Loss on disposal of Ebonex asset	`ImpairmentOfIntangibleAssetsFinitelived`	-	USD	1 Quarter
Loss on disposal of Ebonex asset	`ImpairmentOfIntangibleAssetsFinitelived`	$90.00K	USD	1 Quarter
Loss on disposal of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Loss on disposal of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-79.00K	USD	1 Quarter
Inventory adjustment	`InventoryWriteDown`	-	USD	1 Quarter
Inventory adjustment	`InventoryWriteDown`	$-119.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-244.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-299.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-48.00K	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`	$-558.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-740.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$493.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-1.52M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-684.00K	USD	1 Quarter
Deferred rent	`IncreaseDecreaseInDeferredRent`	-	USD	1 Quarter
Deferred rent	`IncreaseDecreaseInDeferredRent`	$-35.00K	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$21.00K	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$81.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.30M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.26M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.56M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.61M	USD	1 Quarter
Equipment deposits and other assets	`PaymentsToAcquireEquipmentDepositsAndOtherAssets`	$-38.00K	USD	1 Quarter
Equipment deposits and other assets	`PaymentsToAcquireEquipmentDepositsAndOtherAssets`	$36.00K	USD	1 Quarter
Insurance proceeds	`ProceedsFromInsuranceSettlementInvestingActivities`	-	USD	1 Quarter
Insurance proceeds	`ProceedsFromInsuranceSettlementInvestingActivities`	$4.75M	USD	1 Quarter
Insurance proceeds	`ProceedsFromInsuranceSettlementInvestingActivities`	$10.00M	USD	Point-in-time
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.57M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$3.15M	USD	1 Quarter
Proceeds from issuance of common stock, net of transaction costs	`ProceedsFromIssuanceOfCommonStock`	$9.06M	USD	1 Quarter
Proceeds from issuance of common stock, net of transaction costs	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Payments on notes payable	`RepaymentsOfDebt`	$76.00K	USD	1 Quarter
Payments on notes payable	`RepaymentsOfDebt`	$90.00K	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 (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.32M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-76.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-5.56M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-1.19M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$20.89M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.58M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.39M	USD	Point-in-time
Cash and cash equivalents at beginning 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`	$7.58M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.39M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$15.34M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$2.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$161.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$188.00K	USD	1 Quarter
Change in accounts receivable resulting from insurance funds held in escrow	`ChangeInAccountsReceivableFromFundsHeldInEscrow`	$2.75M	USD	1 Quarter
Change in accounts receivable resulting from insurance funds held in escrow	`ChangeInAccountsReceivableFromFundsHeldInEscrow`	-	USD	1 Quarter
Change in property and equipment resulting from change in accounts payable	`IncreaseInPropertyAndEquipmentResultingFromIncreaseInAccountsPayable`	$-973.00K	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`	$103.00K	USD	1 Quarter
Change in property and equipment resulting from change in accrued expenses	`IncreaseInPropertyAndEquipmentResultingFromIncreaseInAccruedExpenses`	$189.00K	USD	1 Quarter
Change in equity resulting from change in accrued expenses	`ChangeInEquityResultingFromAChangeInAccruedExpenses`	-	USD	1 Quarter
Change in equity resulting from change in accrued expenses	`ChangeInEquityResultingFromAChangeInAccruedExpenses`	$24.00K	USD	1 Quarter

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$50.09M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$50.28M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$49.59M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$46.14M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$1.07M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$956.00K	USD	1 Quarter
Common stock issued for consulting services	`StockIssuedDuringPeriodValueIssuedForServices`	$24.00K	USD	1 Quarter
Common stock issued for consulting services	`StockIssuedDuringPeriodValueIssuedForServices`	$1.19M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.43M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-11.71M	USD	1 Quarter
Warrants related to Veolia agreement	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$578.00K	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$50.09M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$50.28M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$49.59M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$46.14M	USD	Point-in-time

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