Aqua Metals (AQMS) 10-Q 29 Apr 21 2021 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2021	Apr. 22, 2021
Document Information [Line Items]
Entity Central Index Key	0001621832
Entity Registrant Name	Aqua Metals, Inc.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2021
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	001-37515
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-1169572
Entity Address, Address Line One	2500 Peru Dr.
Entity Address, City or Town	McCarran
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89437
City Area Code	775
Local Phone Number	525-1936
Title of 12(b) Security	Common Stock
Trading Symbol	AQMS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		68,042,841

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 11,727	$ 6,533
Accounts receivable	0	32
Inventory	1,091	1,091
Prepaid expenses and other current assets	641	702
Total current assets	13,459	8,358
Non-current assets
Property and equipment, net	24,722	24,883
Intellectual property, net	775	819
Investment in LiNiCo	1,500	0
Other assets	1,108	1,078
Total non-current assets	28,105	26,780
Total assets	41,564	35,138
Current liabilities
Accounts payable	1,697	1,552
Accrued expenses	1,709	1,253
Lease liability, current portion	606	620
Notes payable, current portion	31	29
Total current liabilities	4,043	3,454
Lease liability, non-current portion	108	242
Notes payable, non-current portion	170	303
Total liabilities	4,321	3,999
Commitments and contingencies
Stockholders’ equity
Common stock; $0.001 par value; 100,000,000 shares authorized; 67,755,336 and 64,461,065 shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively	68	64
Additional paid-in capital	206,914	196,728
Accumulated deficit	(169,739)	(165,653)
Total stockholders’ equity	37,243	31,139
Total liabilities and stockholders’ equity	$ 41,564	$ 35,138

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Mar. 31, 2021	Dec. 31, 2020
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	67,755,336	64,461,065
Common stock, shares outstanding (in shares)	67,755,336	64,461,065

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Product sales	$ 0	$ 18
Operating cost and expense
Cost of product sales	1,610	1,454
Research and development cost	289	242
General and administrative expense	2,299	2,385
Total operating expense	4,198	4,081
Loss from operations	(4,198)	(4,063)
Other income and (expense)
Insurance proceeds net of related expenses	(12)	(203)
PPP loan forgiveness	131	0
Interest expense	(5)	(183)
Interest and other income	0	22
Total income (expense), net	114	(364)
Loss before income tax expense	(4,084)	(4,427)
Income tax expense	(2)	0
Net loss	$ (4,086)	$ (4,427)
Weighted average shares outstanding, basic and diluted (in shares)	66,877,948	59,582,603
Basic and diluted net loss per share (in dollars per share)	$ (0.06)	$ (0.07)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2019	57,997,780
Balance at Dec. 31, 2019	$ 58	$ 189,422	$ (139,891)	$ 49,589
Stock-based compensation	$ 0	956	0	956
Common stock issued to employees, includes RSUs vesting (in shares)	1,816,039
Common stock issued to employees, includes RSUs vesting	$ 2	0	0	2
Net loss	$ 0	0	(4,427)	(4,427)
Common stock issued for consulting services (in shares)	23,078
Common stock issued for consulting services	$ 0	24	0	24
Balance (in shares) at Mar. 31, 2020	59,836,897
Balance at Mar. 31, 2020	$ 60	190,402	(144,318)	46,144
Balance (in shares) at Dec. 31, 2020	64,461,065
Balance at Dec. 31, 2020	$ 64	196,728	(165,653)	31,139
Stock-based compensation	0	678	0	678
RSUs issued for consulting services	$ 0	34	0	34
Common stock issued to employees, includes RSUs vesting (in shares)	584,249
Common stock issued to employees, includes RSUs vesting	$ 1	0	0	$ 1
Common stock issued upon exercise of employee stock options (in shares)	345,818			345,818
Common stock issued upon exercise of employee stock options	$ 0	724	0	$ 724
Common stock issued upon warrant exercise (in shares)	65,590
Common stock issued upon warrant exercise	$ 0	0	0	0
Common stock issued for ATM share sales, net of $244 transaction costs (in shares)	1,923,614
Common stock issued for ATM share sales, net of $244 transaction costs	$ 2	7,483	0	7,485
Common stock issued related to LiNiCo investment (in shares)	375,000
Common stock issued related to LiNiCo investment	$ 1	1,267	0	1,268
Net loss	$ 0	0	(4,086)	(4,086)
Balance (in shares) at Mar. 31, 2021	67,755,336
Balance at Mar. 31, 2021	$ 68	$ 206,914	$ (169,739)	$ 37,243

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (Parentheticals) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)
Common stock issued, transaction costs	$ 244

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities:
Net loss	$ (4,086)	$ (4,427)
Reconciliation of net loss to net cash used in operating activities
Depreciation	454	612
Amortization of intellectual property	45	45
Accretion of asset retirement obligation	0	12
Fair value of RSUs issued for consulting services	34	24
Stock-based compensation	679	956
Amortization of deferred financing costs	0	9
Forgiveness of PPP Loan	(131)	0
Changes in operating assets and liabilities
Accounts receivable	32	244
Inventory	0	48
Prepaid expenses and other current assets	61	558
Accounts payable	447	(740)
Accrued expenses	457	(1,522)
Other assets and liabilities	(148)	(81)
Net cash used in operating activities	(2,156)	(4,262)
Cash flows from investing activities:
Purchases of property and equipment	(469)	(1,563)
Equipment deposits and other assets	(158)	(36)
Insurance proceeds	0	4,748
Investment in LiNiCo	(232)	0
Net cash (used in) provided by investing activities	(859)	3,149
Cash flows from financing activities:
Payments on notes payable	0	(76)
Stock option exercise	724	0
Proceeds from ATM	7,485	0
Net cash provided by (used in) financing activities	8,209	(76)
Net increase (decrease) in cash and cash equivalents	5,194	(1,189)
Cash and cash equivalents at beginning of period	6,533	7,575
Cash and cash equivalents at end of period	11,727	6,386
Supplemental disclosure of cash flows information
Cash paid for income taxes	2	0
Cash paid for interest	0	161
Supplemental disclosure of non-cash transactions
Change in accounts receivable resulting from insurance funds held in escrow	0	2,750
Change in property and equipment resulting from change in accounts payable	303	(973)
Change in property and equipment resulting from change in accrued expenses	0	(189)
Change in equity resulting from change in accrued expenses	0	24
Change in investing activity resulting from issuance of equity	$ (1,268)	$ 0

Note 1 - Organization

Note 1 - Organization	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Nature of Operations [Text Block]	1. Aqua Metals, Inc. (the “Company”) was incorporated in Delaware and commenced operations on June 20, 2014 ( January 27, 2015, two ™ November 29, 2019, November 29, 2019, Unlike smelting, AquaRefining is a room temperature, water-based process that emits less pollution than smelting, the traditional method of lead recycling. The Company built its first April 2017, March 31, 2018 April 2018, July 2018, two October 2018, November 2018, December 2018, 2019, 35,000 24 seven 100 six 16 17 one On the evening of November 29, 2019, 16

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2. The significant accounting policies and estimates used in preparation of the condensed consolidated financial statements are described in the Company’s audited consolidated financial statements as of and for the year ended December 31, 2020 10 December 31, 2020 February 25, 2021. no three March 31, 2021 Basis of presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) as found in the Accounting Standards Codification (“ASC”) and ASU of the Financial Accounting Standards Board (“FASB”) and pursuant to the rules and regulations of the SEC. Accordingly, they do not March 31, 2021 three March 31, 2021 March 31, 2020 three March 31, 2021 March 31, 2020 three March 31, 2021 March 31, 2020 December 31, 2020 not December 31, 2020 10 February 25, 2021. The results of operations for the three March 31, 2021 not may December 31, 2021 Principles of consolidation The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its Subsidiaries, both of which are wholly-owned subsidiaries. Significant inter-company accounts and transactions have been eliminated in consolidation. Use of estimates The preparation of the condensed consolidated financial statements requires management of the Company to make a number of estimates and assumptions relating to the reported amount of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of expenses during the period. Significant items subject to such estimates and assumptions include the carrying amount and valuation of long-lived assets, the valuation of conversion features of convertible debt, valuation allowances for deferred tax assets, the determination of fair value of estimated asset retirement obligations, the determination of stock option expense and the determination of the fair value of stock warrants issued. Actual results could differ from those estimates. Net loss per share Basic net loss per share is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted net loss per share is computed by dividing the net loss by the weighted-average number of common share equivalents outstanding for the period determined using the treasury-stock method or the if-converted method, as applicable. For purposes of this calculation, stock options, restricted stock units (RSUs) and warrants to purchase common stock are considered to be common stock equivalents and are only included in the calculation of diluted net loss per share when their effect is dilutive. The following shares underlying outstanding convertible notes, stock options, RSUs and warrants to purchase common stock were antidilutive due to a net loss in the periods presented and, therefore, were excluded from the dilutive securities computation for the three March 31 March 31, Excluded potentially dilutive securities (1): 2021 2020 Options to purchase common stock 1,040,522 1,709,106 Unvested restricted stock units 4,771,537 2,397,299 Financing warrants to purchase common stock 6,372 805,747 Total potential dilutive securities 5,818,431 4,912,152 ( 1 The number of shares is based on the maximum number of shares issuable on exercise or conversion of the related securities as of the period end. Such amounts have not Segment and geographic information Operating segments are defined as components of an enterprise engaging in business activities for which discrete financial information is available and regularly reviewed by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The chief operating decision maker views its operations and manages its business in one one Concentration of credit risk Revenues from the following customer represented at least 10% three March 31, 2021 March 31, 2020 not March 31, 2021 December 31, 2020 Revenue Three Months Ended March 31, 2021 2020 Clarios (successor of Johnson Controls Battery Group, Inc.) — % 100 % Recent accounting pronouncements There were no three March 31, 2021 Insurance Proceeds On November 29, 2019, March 31, 2021 first 2021 first 2021,

Note 3 - Revenue Recognition

Note 3 - Revenue Recognition	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	3. The Company has historically generated revenues by recycling lead acid batteries (“LABs”) and selling the recovered lead to its customers. Primary components of the recycling process include sales of recycled lead consisting of lead compounds, ingoted hard lead and ingoted AquaRefined lead as well as plastics. The Company commenced the shipment of products for sale, consisting of lead compounds and plastics, in April 2017, March 31, 2018, April 2018, June 2018, The Company was not three March 31, 2021 three March 31, 2020 three March 31, 2020

Note 4 - Inventory

Note 4 - Inventory	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Inventory Disclosure [Text Block]	4. Inventory consisted of the following (in thousands): March 31, 2021 December 31, 2020 Finished goods $ 2 $ 2 Work in process 247 247 Raw materials 842 842 Total inventory $ 1,091 $ 1,091

Note 5 - Investments

Note 5 - Investments	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Investment [Text Block]	5. On February 15, 2021, three 1,500 The Company accounted for the LiNiCo investment under ASC 321, The LiNiCo Series A Preferred Stock is senior to all other capital stock of LiNiCo with regard to dividends and distributions upon liquidation, dissolution and sale of the company. Each share of LiNiCo Series A Preferred Stock is entitled to one $1,000 The Series A Preferred Stock Purchase Agreement includes customary representations, warranties, and covenants by LiNiCo and the Company. As LiNiCo’s sale of the 375,000 of Aqua Shares resulted in net proceeds to LiNiCo that were less than $1,500,000, the Company was required to pay LiNiCo the difference of $232,000 in cash. In connection with the investment transactions, the Company also entered into an Investors Rights Agreement and a Voting Agreement, each dated February 15, 2021, one 10% Comstock Mining Inc., a Nevada corporation (NYSE-MKT: LODE), is the beneficial owner of approximately 50% of the common shares of LiNiCo. The Company's Chief Financial Officer, Judd Merrill, is a member of the board of directors of Comstock Mining.

Note 6 - Property and Equipment

Note 6 - Property and Equipment, Net	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	6. Property and equipment, net, consisted of the following (in thousands): Useful Life Asset Class (Years) March 31, 2021 December 31, 2020 Operational equipment 3 - 10 $ 12,126 $ 12,126 Lab equipment 5 524 524 Computer equipment 3 222 222 Office furniture and equipment 3 221 221 Land - 1,047 1,047 Building 39 19,508 19,508 Equipment under construction 3,762 3,597 37,410 37,245 Less: accumulated depreciation (12,688 ) (12,362 ) Total property and equipment, net $ 24,722 $ 24,883 Property and equipment depreciation expense was $0.3 million and $0.6 million for the three March 31, 2021 three March 31, 2020 The Company has entered into an Industrial Lease Agreement with LiNiCo, dated February 15, 2021 April 1, 2021 March 31, 2023. 11

Note 7 - Notes Payable

Note 7 - Notes Payable	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Debt Disclosure [Text Block]	7. On May 7, 2020, The unforgiven portion of the PPP loans are now payable over five 1%, September 2021. three March 31, 2021 one two no Notes payable is comprised of the following (in thousands): March 31, 2021 December 31, 2020 Notes payable, current portion Paycheck Protection Program $ 31 $ 29 Total notes payable, current portion $ 31 $ 29 Notes payable, non-current portion Paycheck Protection Program $ 170 $ 303 Total notes payable, non-current portion $ 170 $ 303

Note 8 - Leases

Note 8 - Leases	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Lessee, Operating and Finance Leases [Text Block]	8. The Company currently maintains one two one three March 31, 2021 March 31, 2020 Based on the present value of the lease payments for the remaining lease term of the Company's existing leases, as of March 31, 2021 March 31, 2020 Information related to the Company's right-of-use assets and related lease liabilities were as follows (in thousands): Three Months Ended March 31, 2021 2020 Cash paid for operating lease liabilities $ 163 $ 158 Operating lease cost $ 144 $ 144 March 31, 2021 Weighted-average remaining lease term (in years) 1.0 Weighted-average discount rate 9.66 % Future maturities of lease liabilities as of March 31, 2021 Due in 12-month period ended March 31, 2022 $ 634 2023 $ 91 $ 725 Less imputed interest $ (35 ) Total lease liabilities $ 690 Current operating lease liabilities $ 600 Non-current operating lease liabilities $ 90 $ 690 Note: Excludes a finance lease with a current liability of $6 and a non-current liability of $18.

Note 9 - Stockholders' Equity

Note 9 - Stockholders' Equity	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	9. Shares issued During the three March 31, 2021 During the three March 31, 2021 five During the three March 31, 2021 five During the three March 31, 2021 During the three March 31, 2021 February 15, 2021. During the three March 31, 2021 During the three March 31, 2021 Stock-based compensation The stock-based compensation expense was allocated as follows: Three Months Ended March 31, 2021 2020 Cost of product sales $ 31 $ 22 Research and development cost 42 105 General and administrative expense 606 829 Total $ 679 $ 956 There were no options issued during the three March 31, 2021 three March 31, 2020 Restricted stock units In February 2021, three 1 2 3 three March 31, 2021

Note 10 - Commitments and Conti

Note 10 - Commitments and Contingencies	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	10. Legal proceedings See Item 1.

Note 11 - Subsequent Events

Note 11 - Subsequent Events	3 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Subsequent Events [Text Block]	11. The Company has evaluated subsequent events through the date which the condensed consolidated financial statements were available to be issued. Industrial Lease and Option to Purchase Agreement The Company has entered into an Industrial Lease Agreement with LINICO Corporation, a Nevada corporation, or LiNiCo, dated February 15, 2021 April 1, 2021 March 31, 2023. October 1, 2022 October 1, 2022 March 31, 2023. October 15, 2021 second November 22, 2022, six With respect to the portion of the facility that was damaged in the November 2019 July 31, 2021 November 15, 2021. first Insurance Payment Subsequent to the quarter ended March 31, 2021 November 2019

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) as found in the Accounting Standards Codification (“ASC”) and ASU of the Financial Accounting Standards Board (“FASB”) and pursuant to the rules and regulations of the SEC. Accordingly, they do not March 31, 2021 three March 31, 2021 March 31, 2020 three March 31, 2021 March 31, 2020 three March 31, 2021 March 31, 2020 December 31, 2020 not December 31, 2020 10 February 25, 2021. The results of operations for the three March 31, 2021 not may December 31, 2021
Consolidation, Policy [Policy Text Block]	Principles of consolidation The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its Subsidiaries, both of which are wholly-owned subsidiaries. Significant inter-company accounts and transactions have been eliminated in consolidation.
Use of Estimates, Policy [Policy Text Block]	Use of estimates The preparation of the condensed consolidated financial statements requires management of the Company to make a number of estimates and assumptions relating to the reported amount of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of expenses during the period. Significant items subject to such estimates and assumptions include the carrying amount and valuation of long-lived assets, the valuation of conversion features of convertible debt, valuation allowances for deferred tax assets, the determination of fair value of estimated asset retirement obligations, the determination of stock option expense and the determination of the fair value of stock warrants issued. Actual results could differ from those estimates.
Earnings Per Share, Policy [Policy Text Block]	Net loss per share Basic net loss per share is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted net loss per share is computed by dividing the net loss by the weighted-average number of common share equivalents outstanding for the period determined using the treasury-stock method or the if-converted method, as applicable. For purposes of this calculation, stock options, restricted stock units (RSUs) and warrants to purchase common stock are considered to be common stock equivalents and are only included in the calculation of diluted net loss per share when their effect is dilutive. The following shares underlying outstanding convertible notes, stock options, RSUs and warrants to purchase common stock were antidilutive due to a net loss in the periods presented and, therefore, were excluded from the dilutive securities computation for the three March 31 March 31, Excluded potentially dilutive securities (1): 2021 2020 Options to purchase common stock 1,040,522 1,709,106 Unvested restricted stock units 4,771,537 2,397,299 Financing warrants to purchase common stock 6,372 805,747 Total potential dilutive securities 5,818,431 4,912,152 ( 1 The number of shares is based on the maximum number of shares issuable on exercise or conversion of the related securities as of the period end. Such amounts have not
Segment Reporting, Policy [Policy Text Block]	Segment and geographic information Operating segments are defined as components of an enterprise engaging in business activities for which discrete financial information is available and regularly reviewed by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The chief operating decision maker views its operations and manages its business in one one
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentration of credit risk Revenues from the following customer represented at least 10% three March 31, 2021 March 31, 2020 not March 31, 2021 December 31, 2020 Revenue Three Months Ended March 31, 2021 2020 Clarios (successor of Johnson Controls Battery Group, Inc.) — % 100 %
New Accounting Pronouncements, Policy [Policy Text Block]	Recent accounting pronouncements There were no three March 31, 2021
Insurance Proceeds [Policy Text Block]	Insurance Proceeds On November 29, 2019, March 31, 2021 first 2021 first 2021,

Note 2 - Summary of Significa_2

Note 2 - Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	March 31, Excluded potentially dilutive securities (1): 2021 2020 Options to purchase common stock 1,040,522 1,709,106 Unvested restricted stock units 4,771,537 2,397,299 Financing warrants to purchase common stock 6,372 805,747 Total potential dilutive securities 5,818,431 4,912,152
Schedules of Concentration of Risk, by Risk Factor [Table Text Block]	Revenue Three Months Ended March 31, 2021 2020 Clarios (successor of Johnson Controls Battery Group, Inc.) — % 100 %

Note 4 - Inventory (Tables)

Note 4 - Inventory (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Schedule of Inventory, Current [Table Text Block]	March 31, 2021 December 31, 2020 Finished goods $ 2 $ 2 Work in process 247 247 Raw materials 842 842 Total inventory $ 1,091 $ 1,091

Note 6 - Property and Equipme_2

Note 6 - Property and Equipment, Net (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Property, Plant and Equipment [Table Text Block]	Useful Life Asset Class (Years) March 31, 2021 December 31, 2020 Operational equipment 3 - 10 $ 12,126 $ 12,126 Lab equipment 5 524 524 Computer equipment 3 222 222 Office furniture and equipment 3 221 221 Land - 1,047 1,047 Building 39 19,508 19,508 Equipment under construction 3,762 3,597 37,410 37,245 Less: accumulated depreciation (12,688 ) (12,362 ) Total property and equipment, net $ 24,722 $ 24,883

Note 7 - Notes Payable (Tables)

Note 7 - Notes Payable (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Schedule of Debt [Table Text Block]	March 31, 2021 December 31, 2020 Notes payable, current portion Paycheck Protection Program $ 31 $ 29 Total notes payable, current portion $ 31 $ 29 Notes payable, non-current portion Paycheck Protection Program $ 170 $ 303 Total notes payable, non-current portion $ 170 $ 303

Note 8 - Leases (Tables)

Note 8 - Leases (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Lease, Cost [Table Text Block]	Three Months Ended March 31, 2021 2020 Cash paid for operating lease liabilities $ 163 $ 158 Operating lease cost $ 144 $ 144 March 31, 2021 Weighted-average remaining lease term (in years) 1.0 Weighted-average discount rate 9.66 %
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Due in 12-month period ended March 31, 2022 $ 634 2023 $ 91 $ 725 Less imputed interest $ (35 ) Total lease liabilities $ 690 Current operating lease liabilities $ 600 Non-current operating lease liabilities $ 90 $ 690

Note 9 - Stockholders' Equity (

Note 9 - Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2021
Notes Tables
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Three Months Ended March 31, 2021 2020 Cost of product sales $ 31 $ 22 Research and development cost 42 105 General and administrative expense 606 829 Total $ 679 $ 956

Note 1 - Organization (Details

Note 1 - Organization (Details Textual)	Jan. 27, 2015
Number of Subsidiaries	2

Note 2 - Summary of Significa_3

Note 2 - Summary of Significant Accounting Policies (Details Textual) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)
Number of Operating Segments	1
Number of Geographic Segments	1
Accounts Receivable, after Allowance for Credit Loss, Current, Total	$ 0		$ 32
Proceeds from Insurance Settlement, Investing Activities	0	$ 4,748
Insurance Recoveries, Net of Related Expenses	(12)	$ (203)
AquaRefining Fire [Member]
Proceeds from Insurance Settlement, Investing Activities	23,600
Insurance Recoveries, Net of Related Expenses	200
Escrow Deposit	1,400
Trade Accounts Receivable [Member]
Accounts Receivable, after Allowance for Credit Loss, Current, Total	$ 0		$ 0

Note 2 - Summary of Significa_4

Note 2 - Summary of Significant Accounting Policies - Antidilutive Securities Excluded From Computation of Earnings Per Share (Details) - shares		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020
Total potential dilutive securities (in shares)	[1]	5,818,431	4,912,152
Share-based Payment Arrangement, Option [Member]
Total potential dilutive securities (in shares)	[1]	1,040,522	1,709,106
Restricted Stock Units (RSUs) [Member]
Total potential dilutive securities (in shares)		4,771,537	2,397,299
Warrant [Member]
Total potential dilutive securities (in shares)	[1]	6,372	805,747
[1]	The number of shares is based on the maximum number of shares issuable on exercise or conversion of the related securities as of the period end. Such amounts have not been adjusted for the treasury stock method or weighted average outstanding calculations as required if the securities were dilutive.

Note 2 - Summary of Significa_5

Note 2 - Summary of Significant Accounting Policies - Concentration of Credit Risk (Details)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Clarios [Member]
Concentration risk	0.00%	100.00%

Note 3 - Revenue Recognition (D

Note 3 - Revenue Recognition (Details Textual)	3 Months Ended
	Mar. 31, 2020
Percentage of Revenue From Products Transferred at Point in Time	100.00%

Note 4 - Inventory - Inventory

Note 4 - Inventory - Inventory (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Finished goods	$ 2	$ 2
Work in process	247	247
Raw materials	842	842
Total inventory	$ 1,091	$ 1,091

Note 5 - Investments (Details T

Note 5 - Investments (Details Textual) - USD ($)	Feb. 15, 2021	Mar. 31, 2021
LiNiCo [Member]
Series A Preferred Stock Purchase Agreement, Initial Sale of Stock (in shares)	375,000
Series A Preferred Stock Purchase Agreement, Approximate Proceeds from Initial Sale of Stock	$ 1,500,000
Series A Preferred Stock Purchase Agreement, Approximate Proceeds from Aggregate Sale of Stock	$ 232,000
LiNiCo [Member]
Noncontrolling Interest, Ownership Percentage by Parent	9.00%
LiNiCo [Member] | Comstock Mining Inc. [Member]
Ownership Percentage	50.00%
Series A Preferred Stock [Member] | LiNiCo [Member]
Preferred Stock, Dividend Rate, Percentage	8.00%
Preferred Stock, Par or Stated Value Per Share (in dollars per share)	$ 1,000
LiNiCo [Member]
Stock Issued During Period, Shares, Equity Method Invesment (in shares)	375,000	375,000
LiNiCo [Member] | Series A Warrant [Member]
Investment Warrant, Term (Year)	3 years
Investment Warrant, Number of Securities Called by Warrants or Rights (in shares)	500
Investment Warrant, Exercise Price (in dollars per share)	$ 1,000
LiNiCo [Member] | Series A Preferred Stock [Member]
Shares Received in Exchange of Common Stock Issued (in shares)	1,500
Value of Shares Received in Exchange of Common Stock Issued	$ 1,500,000

Note 6 - Property and Equipme_3

Note 6 - Property and Equipment, Net (Details Textual) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)	Feb. 15, 2021ft²
Depreciation, Total | $	$ 0.3	$ 0.6
Recycling Facility at TRIC [Member]
Area of Real Estate Property (Square Foot) | ft²			136,750

Note 6 - Property and Equipme_4

Note 6 - Property and Equipment, Net - Property and Equipment, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Property and equipment, gross	$ 37,410	$ 37,245
Less: accumulated depreciation	(12,688)	(12,362)
Total property and equipment, net	24,722	24,883
Operational Equipment [Member]
Property and equipment, gross	$ 12,126	12,126
Operational Equipment [Member] | Minimum [Member]
Property and equipment, net, useful life (Year)	3 years
Operational Equipment [Member] | Maximum [Member]
Property and equipment, net, useful life (Year)	10 years
Laboratory Equipment [Member]
Property and equipment, net, useful life (Year)	5 years
Property and equipment, gross	$ 524	524
Computer Equipment [Member]
Property and equipment, net, useful life (Year)	3 years
Property and equipment, gross	$ 222	222
Office Furniture and Equipment [Member]
Property and equipment, net, useful life (Year)	3 years
Property and equipment, gross	$ 221	221
Land [Member]
Property and equipment, gross	$ 1,047	1,047
Building [Member]
Property and equipment, net, useful life (Year)	39 years
Property and equipment, gross	$ 19,508	19,508
Construction in Progress [Member]
Property and equipment, gross	$ 3,762	$ 3,597

Note 7 - Notes Payable (Details

Note 7 - Notes Payable (Details Textual) - Paycheck Protection Program, CARES Act [Member] - USD ($)	May 07, 2020	Mar. 31, 2021
Proceeds from Issuance of Debt	$ 332,000
Debt Instrument, Decrease, Forgiveness		$ 131,000

Note 7 - Notes Payable - Schedu

Note 7 - Notes Payable - Schedule of Notes Payable (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Notes payable, current portion	$ 31	$ 29
Notes payable, non-current portion	170	303
Paycheck Protection Program, CARES Act [Member]
Notes payable, current portion	31	29
Notes payable, non-current portion	$ 170	$ 303

Note 8 - Leases (Details Textua

Note 8 - Leases (Details Textual)	3 Months Ended
	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)
Lessee, Finance Lease, Number of Leases	1
Lessee, Operating Lease, Number of Leases	2
Sublease Income	$ 132,000	$ 108,000
Operating Lease, Right-of-Use Asset	590,000	1,080,000
Operating Lease, Liability, Total	690,000	$ 1,250,000
Finance Lease, Liability, Current	6,000
Finance Lease, Liability, Noncurrent	$ 18,000
Maximum [Member]
Lessee, Operating Lease, Term of Contract (Month)	76 months
Minimum [Member]
Lessee, Operating Lease, Term of Contract (Month)	42 months

Note 8 - Leases - Right-of-Use

Note 8 - Leases - Right-of-Use Assets and Related Lease Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash paid for operating lease liabilities	$ 163	$ 158
Operating lease cost	$ 144	$ 144
Weighted-average remaining lease term (in years) (Year)	1 year
Weighted-average discount rate	9.66%

Note 8 - Leases - Maturities of

Note 8 - Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020
2022	$ 634
2023	91
Lessee, Operating Lease, Liability, to be Paid, Total	725
Less imputed interest	(35)
Total lease liabilities	690	$ 1,250
Operating Lease, Liability, Total	690	$ 1,250
Lease Liability, Current and Noncurrent Portion [Member]
Total lease liabilities	690
Operating Lease, Liability, Total	690
Lease Liability, Current Portion [Member]
Current operating lease liabilities	600
Lease Liability, Noncurrent Portion [Member]
Non-current operating lease liabilities	$ 90

Note 9 - Stockholders' Equity_2

Note 9 - Stockholders' Equity (Details Textual) - USD ($)	Feb. 15, 2021	Feb. 28, 2021	Mar. 31, 2021	Mar. 31, 2020
Stock Issued During Period, Shares, Restricted Stock Award, Gross (in shares)			543,040
Stock Issued During Period, Value, Warrant Exercised			$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares)			345,818
Proceeds from Issuance of Common Stock			$ 7,485,000	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)			0	0
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)		25,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Grant Date Fair Value		$ 151,500
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares)			0
LiNiCo [Member]
Stock Issued During Period, Shares, Equity Method Invesment (in shares)	375,000		375,000
Board Members [Member]
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures, Total (in shares)			41,209
First Cashless Exercise of Warrant [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)			10,350
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)			$ 1.90
Second Cashless Exercise of Warrant [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)			86,778
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)			$ 1.90
First Set of Common Stock Pursuant to Cashless Exercise of Warrant [Member]
Share Price (in dollars per share)			$ 3.95
Stock Issued During Period, Value, Warrant Exercised			$ 5,371
Second Set of Common Stock Pursuant to Cashless Exercise of Warrant [Member]
Share Price (in dollars per share)			$ 6.20
Stock Issued During Period, Value, Warrant Exercised			$ 60,219
ATM [Member]
Stock Issued During Period, Shares, New Issues (in shares)			1,923,614
Proceeds from Issuance of Common Stock			$ 7.5

Note 9 - Stockholders' Equity -

Note 9 - Stockholders' Equity - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Stock-based compensation expense	$ 679	$ 956
Cost of Sales [Member]
Stock-based compensation expense	31	22
Research and Development Expense [Member]
Stock-based compensation expense	42	105
General and Administrative Expense [Member]
Stock-based compensation expense	$ 606	$ 829

Note 11 - Subsequent Events (De

Note 11 - Subsequent Events (Details Textual)	1 Months Ended	3 Months Ended
	Apr. 29, 2021USD ($)	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)	Feb. 15, 2021USD ($)ft²
Area of Land Damaged by Fire (Square Foot) | ft²				30,000
Proceeds from Insurance Settlement, Investing Activities		$ 0	$ 4,748,000
AquaRefining Fire [Member]
Proceeds from Insurance Settlement, Investing Activities		$ 23,600,000
AquaRefining Fire [Member] | Subsequent Event [Member]
Proceeds from Insurance Settlement, Investing Activities	$ 1,400,000
Recycling Facility at TRIC [Member]
Area of Real Estate Property (Square Foot) | ft²				136,750
Lessor, Operating Lease, Lessee's First Option to Purchase				$ 14,250,000
Lessor, Operating Lease, Lessee's Second Option to Purchase				15,250,000
First Nonrefundable Deposit Subject to Purchase Option				1,250,000
Second Nonrefundable Deposit Subject to Purchase Option				2,000,000
Lessor, Operating Lease, Monthly Payments to be Received				68,000
Lessor, Operating Lease, Monthly Payments to be Received in Last Six Months of Lease Term				$ 100,640