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Aqua Metals, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing no revenue from product sales, compared to $25,000 in the same quarter the previous year.
Plant operations expenses decreased to $1,617,000 from $1,770,000 in the same quarter the previous year, while research and development costs increased slightly to $398,000.
A loss of $448,000 was recorded from the disposal of property, plant, and equipment during the quarter.
General and administrative expenses decreased to $2,748,000 from $2,815,000 in the same quarter of the previous year.
The company reported a net loss of $5,210,000 for the quarter, compared to a net loss of $4,547,000 in the previous year.
Interest expense for the quarter was $83,000, while interest and other income decreased significantly to $84,000.
Cash used in operating activities was $11,637,000, while cash used in investing activities was $11,062,000, primarily due to equipment purchases.
Cash provided by financing activities was $9,127,000, including proceeds from stock sales and a public offering.
Aqua Metals had cash and cash equivalents of $2,950,000 as of September 30, 2024, with current liabilities of $7,065,000.
The filing also discusses the company's ongoing efforts to develop its lithium-ion battery recycling technology and the need for additional capital to continue operations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Aqua Metals Inc. quarterly 10-Q report dated November 14, 2024. To report an error, please email earnings@qz.com.