Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2023 | Aug. 03, 2023 | |
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 | Q2 | |
Document Fiscal Year Focus | 2023 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2023 | |
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 | 5370 Kietzke Lane, Suite 201 | |
Entity Address, City or Town | Reno | |
Entity Address, State or Province | NV | |
Entity Address, Postal Zip Code | 89511 | |
City Area Code | 775 | |
Local Phone Number | 446-4418 | |
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 | 103,184,859 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Current assets | ||
Cash and cash equivalents | $ 6,196 | $ 7,082 |
Accounts receivable | 104 | 12 |
Lease receivable, current portion | 0 | 15,527 |
Inventory | 631 | 278 |
Assets held for sale | 0 | 47 |
Prepaid expenses and other current assets | 183 | 263 |
Total current assets | 7,114 | 23,209 |
Non-current assets | ||
Property, plant and equipment, net | 11,951 | 7,343 |
Intellectual property, net | 371 | 461 |
Investment in LINICO | 2,000 | 2,000 |
Other assets | 445 | 489 |
Total non-current assets | 14,767 | 10,293 |
Total assets | 21,881 | 33,502 |
Current liabilities | ||
Accounts payable | 776 | 1,075 |
Accrued expenses | 1,986 | 1,780 |
Building purchase deposit | 0 | 3,250 |
Lease liability, current portion | 316 | 307 |
Note payable, current portion | 34 | 5,899 |
Total current liabilities | 3,112 | 12,311 |
Non-current liabilities | ||
Lease liability, non-current portion | 118 | 275 |
Note payable, non-current portion | 2,908 | 0 |
Total liabilities | 6,138 | 12,586 |
Commitments and contingencies (see Note 13) | ||
Stockholders’ equity | ||
Common stock; $0.001 par value; 200,000,000 shares authorized; 84,018,082 and 83,507,450, shares issued and outstanding as of June 30, 2023, respectively and 79,481,751 shares issued and outstanding as of December 31, 2022 | 84 | 79 |
Additional paid-in capital | 224,878 | 220,114 |
Accumulated deficit | (208,642) | (199,277) |
Treasury stock, at cost; common shares: 510,632 and nil as of June 30, 2023 and December 31, 2022, respectively | (577) | 0 |
Total stockholders’ equity | 15,743 | 20,916 |
Total liabilities and stockholders’ equity | $ 21,881 | $ 33,502 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Jun. 30, 2023 | Dec. 31, 2022 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 200,000,000 | 200,000,000 |
Common stock, shares issued (in shares) | 84,018,082 | 79,481,751 |
Common stock, shares outstanding (in shares) | 83,507,450 | 79,481,751 |
Treasury Stock, Common, Shares (in shares) | 510,632 | 0 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Product sales | $ 0 | $ 4 | $ 0 | $ 4 |
Operating cost and expense | ||||
Plant operations | 1,481 | 1,048 | 2,546 | 2,043 |
Research and development cost | 525 | 521 | 970 | 1,072 |
General and administrative expense | 2,849 | 2,390 | 5,855 | 5,154 |
Total operating expense | 4,855 | 3,959 | 9,371 | 8,269 |
Loss from operations | (4,855) | (3,955) | (9,371) | (8,265) |
Other income and (expense) | ||||
Gain on disposal of property, plant and equipment | 3 | 739 | 23 | 590 |
Interest expense | (255) | (12) | (431) | (12) |
Interest and other income | 348 | 62 | 414 | 113 |
Total other income, net | 96 | 789 | 6 | 691 |
Loss before income tax expense | (4,759) | (3,166) | (9,365) | (7,574) |
Income tax expense | 0 | 0 | 0 | (2) |
Net loss | $ (4,759) | $ (3,166) | $ (9,365) | $ (7,576) |
Weighted average shares outstanding, basic and diluted (in shares) | 84,184,884 | 75,215,009 | 82,743,345 | 73,584,761 |
Basic and diluted net loss per share (in dollars per share) | $ (0.06) | $ (0.04) | $ (0.11) | $ (0.10) |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) | ATM [Member] Common Stock Outstanding [Member] | ATM [Member] Common Stock [Member] | ATM [Member] Additional Paid-in Capital [Member] | ATM [Member] Retained Earnings [Member] | ATM [Member] Treasury Stock, Common [Member] | ATM [Member] | Common Stock Outstanding [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Treasury Stock, Common [Member] | Total |
Balance (in shares) at Dec. 31, 2021 | 70,416,552 | 0 | ||||||||||
Balance at Dec. 31, 2021 | $ 70,000 | $ 211,309,000 | $ (183,846,000) | $ 0 | $ 27,533,000 | |||||||
Stock-based compensation | 0 | 1,138,000 | 0 | $ 0 | 1,138,000 | |||||||
Common stock issued to employees and directors, includes RSUs vesting (in shares) | 1,139,129 | 0 | ||||||||||
Common stock issued to employees and directors, includes RSUs vesting | 1,000 | 0 | 0 | $ 0 | 1,000 | |||||||
Common Stock, Issued (in shares) | 4,217,134 | 0 | ||||||||||
Common stock, Issued | $ 5,000 | $ 4,583,000 | $ 0 | $ 0 | $ 4,588,000 | |||||||
Net loss | 0 | 0 | (7,576,000) | $ 0 | (7,576,000) | |||||||
Balance (in shares) at Jun. 30, 2022 | 75,772,815 | 0 | ||||||||||
Balance at Jun. 30, 2022 | 76,000 | 217,030,000 | (191,422,000) | $ 0 | 25,684,000 | |||||||
Balance (in shares) at Mar. 31, 2022 | 74,934,199 | 0 | ||||||||||
Balance at Mar. 31, 2022 | 75,000 | 215,799,000 | (188,256,000) | $ 0 | 27,618,000 | |||||||
Stock-based compensation | 0 | 534,000 | 0 | $ 0 | 534,000 | |||||||
Common stock issued to employees and directors, includes RSUs vesting (in shares) | 19,481 | 0 | ||||||||||
Common stock issued to employees and directors, includes RSUs vesting | 0 | 0 | 0 | $ 0 | 0 | |||||||
Common Stock, Issued (in shares) | 819,135 | 0 | ||||||||||
Common stock, Issued | 1,000 | 697,000 | 0 | $ 0 | $ 698,000 | |||||||
Net loss | 0 | 0 | (3,166,000) | $ 0 | (3,166,000) | |||||||
Balance (in shares) at Jun. 30, 2022 | 75,772,815 | 0 | ||||||||||
Balance at Jun. 30, 2022 | 76,000 | 217,030,000 | (191,422,000) | $ 0 | 25,684,000 | |||||||
Balance (in shares) at Dec. 31, 2022 | 79,481,751 | 0 | ||||||||||
Balance at Dec. 31, 2022 | 79,000 | 220,114,000 | (199,277,000) | $ 0 | 20,916,000 | |||||||
Stock-based compensation | 0 | 1,285,000 | 0 | $ 0 | 1,285,000 | |||||||
Common stock issued to employees and directors, includes RSUs vesting (in shares) | 880,763 | 0 | ||||||||||
Common stock issued to employees and directors, includes RSUs vesting | 1,000 | 0 | 0 | $ 0 | 1,000 | |||||||
Common Stock, Issued (in shares) | 2,409,707 | 0 | 2,409,707 | 57,375 | 0 | |||||||
Common stock, Issued | 3,000 | 2,781,000 | 0 | $ 0 | $ 2,784,000 | 0 | 64,000 | 0 | $ 0 | 64,000 | ||
Net loss | 0 | 0 | (9,365,000) | $ 0 | (9,365,000) | |||||||
RSUs issued for consulting services (in shares) | 15,781 | 0 | ||||||||||
RSUs issued for consulting services | 0 | 12,000 | 0 | $ 0 | $ 12,000 | |||||||
Common stock withheld to satisfy tax withholdings on RSUs vesting (in shares) | 0 | 510,632 | (510,632) | |||||||||
Common stock withheld to satisfy tax withholdings on RSUs vesting | 0 | 0 | 0 | $ (577,000) | $ (577,000) | |||||||
Common stock issued for employee stock purchase plan sales (in shares) | 192,707 | 0 | 192,707 | |||||||||
Common stock issued for employee stock purchase plan sales | 0 | 122,000 | 0 | $ 0 | $ 122,000 | |||||||
Common stock issued for class action settlement (in shares) | 469,366 | 0 | 469,366 | |||||||||
Common stock issued for class action settlement | 1,000 | 500,000 | 0 | $ 0 | $ 501,000 | |||||||
Balance (in shares) at Jun. 30, 2023 | 83,507,450 | 510,632 | ||||||||||
Balance at Jun. 30, 2023 | 84,000 | 224,878,000 | (208,642,000) | $ (577,000) | 15,743,000 | |||||||
Balance (in shares) at Mar. 31, 2023 | 82,670,169 | 510,632 | ||||||||||
Balance at Mar. 31, 2023 | 83,000 | 223,453,000 | (203,883,000) | $ (577,000) | 19,076,000 | |||||||
Stock-based compensation | 0 | 599,000 | 0 | $ 0 | 599,000 | |||||||
Common stock issued to employees and directors, includes RSUs vesting (in shares) | 58,652 | 0 | ||||||||||
Common stock issued to employees and directors, includes RSUs vesting | 0 | 0 | 0 | $ 0 | 0 | |||||||
Common Stock, Issued (in shares) | 746,754 | 0 | 31,875 | |||||||||
Common stock, Issued | $ 1,000 | $ 794,000 | $ 0 | $ 0 | $ 795,000 | 0 | 32,000 | 0 | 0 | 32,000 | ||
Net loss | 0 | 0 | (4,759,000) | $ 0 | (4,759,000) | |||||||
Balance (in shares) at Jun. 30, 2023 | 83,507,450 | 510,632 | ||||||||||
Balance at Jun. 30, 2023 | $ 84,000 | $ 224,878,000 | $ (208,642,000) | $ (577,000) | $ 15,743,000 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
ATM [Member] | ||||
Common stock issued, transaction costs | $ 25 | $ 22 | $ 87 | $ 143 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Cash flows from operating activities: | ||
Net loss | $ (9,365) | $ (7,576) |
Reconciliation of net loss to net cash used in operating activities | ||
Depreciation and ROU asset amortization | 455 | 548 |
Amortization of intellectual property | 90 | 90 |
Fair value of common stock issued for director fees | 64 | 0 |
Fair value of common stock issued for consulting services | 12 | 0 |
Stock-based compensation | 1,286 | 1,139 |
Amortization of deferred financing costs | 112 | 0 |
Gain on disposal of property, plant and equipment | (23) | (590) |
Changes in operating assets and liabilities | ||
Proceeds from leasing of building | 12,278 | 410 |
Accounts receivable | (90) | 273 |
Inventory | (353) | 95 |
Prepaid expenses and other current assets | 80 | 45 |
Accounts payable | 49 | (5) |
Accrued expenses | 1,024 | (11) |
Other assets and liabilities | (147) | (357) |
Net cash provided by (used in) operating activities | 5,472 | (5,939) |
Cash flows from investing activities: | ||
Purchases of property, plant and equipment | (5,503) | (973) |
Proceeds from sale of equipment | 67 | 1,145 |
Equipment deposits and other assets | (75) | (33) |
Investment in LINICO | 0 | (500) |
Net cash used in investing activities | (5,511) | (361) |
Cash flows from financing activities: | ||
Proceeds from employee stock purchase plan | 14 | 0 |
Payments on note payable | (6,000) | 0 |
Proceeds from note payable, net | 2,932 | 0 |
Cash paid for tax withholdings on RSUs vesting | (577) | 0 |
Proceeds from ATM, net | 2,784 | 4,588 |
Net cash provided by (used in) financing activities | (847) | 4,588 |
Net decrease in cash and cash equivalents | (886) | (1,712) |
Cash and cash equivalents at beginning of period | 7,082 | 8,137 |
Cash and cash equivalents at end of period | 6,196 | 6,425 |
Supplemental disclosure of cash flows information | ||
Cash paid for interest | 309 | 5 |
Supplemental disclosure of non-cash transactions | ||
Change in property, plant and equipment resulting from change in accounts payable | 349 | (218) |
Change in property, plant and equipment resulting from change in accrued expenses | 210 | 0 |
Change in equity resulting from change in accrued expenses | $ 608 | $ 0 |
Note 1 - Organization
Note 1 - Organization | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 1. Aqua Metals (NASDAQ: AQMS one We are in the process of demonstrating that Li AquaRefining, which is fundamentally non-polluting, can create the highest quality and highest yields of recovered minerals from lithium-ion batteries with lower waste streams and lower costs than existing alternatives. We have already demonstrated at our pilot facility our ability to recover key valuable minerals in lithium-ion batteries, such as lithium hydroxide, copper, nickel, cobalt, and other compounds in early 2023. first 2023. Our focus for the lead market is providing equipment and licensing of our lead acid battery recycling technologies in an enabler model which allows us to work with anyone in the industry globally and address the entire marketplace. Our focus for the lithium market includes operating and licensing our first |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2023 | |
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, 2022 10 December 31, 2022 March 9, 2023. no three six June 30, 2023 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 Accounting Standards Updates ("ASU") of the Financial Accounting Standards Board (“FASB”) and pursuant to the rules and regulations of the SEC. Accordingly, they do not June 30, 2023 three six June 30, 2023 June 30, 2022 three six June 30, 2023 June 30, 2022 six June 30, 2023 June 30, 2022 December 31, 2022 not December 31, 2022 10 March 9, 2023. The results of operations for the three six June 30, 2023 not may December 31, 2023 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, valuation allowances for deferred tax assets, the determination of stock-based compensation expense and the determination of the fair value of stock warrants issued. Actual results could differ from those estimates. Cash and cash equivalents The Company considers all highly liquid instruments with original or remaining maturities of ninety may Inventory Inventory is stated at the lower of cost or net realizable value. Cost is recorded on a first first not 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 anti-dilutive due to a net loss in the periods presented and, therefore, were excluded from the dilutive weighted average securities computation for the three six June 30 Three Months Ended June 30, Six Months Ended June 30, Excluded potentially dilutive weighted average securities (1): 2023 2022 2023 2022 Options to purchase common stock 417,749 1,020,949 704,316 1,023,814 Unvested restricted stock units 6,181,141 4,126,930 5,770,715 4,277,456 Financing warrants to purchase common stock 6,372 6,372 6,372 6,372 Total potential dilutive weighted average securities 6,605,262 5,154,251 6,481,403 5,307,642 ( 1 Securities are presented on a weighted average outstanding calculation as required if the securities were dilutive. Property, plant and equipment, net Property, plant and equipment are stated at cost net of accumulated depreciation. Depreciation on property, plant and equipment is calculated on the straight-line basis over the estimated useful lives of the assets. Leasehold improvements are depreciated over the shorter of the life of the asset or the remaining term of the lease. We periodically evaluate our property, plant and equipment assets for indications that the carrying amount of an asset may not Intellectual property, net Intellectual property consists of patent applications contributed to the Company by the founding stockholders and patent applications for technology developed by the Company. The useful life of this intellectual property has been determined to be ten may not Investment in LINICO Investments, which may not Leases The Company determines if an arrangement is a lease at inception. Operating lease right-of-use assets (“ROU assets”) and short-term and long-term lease liabilities are included in the condensed consolidated balance sheets. ROU assets represent the right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating and finance lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of the Company’s leases do not may 12 Segment and geographic information Our chief operating decision maker (“CODM”) is the Chief Executive Officer. 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 CODM in deciding how to allocate resources and in assessing performance. The CODM views its operations and manages its business in one operating segment, and the Company operates in only one Concentration of credit risk The Company did not three six June 30, 2023 2022 second 2022 not June 30, 2023 December 31, 2022 June 30, 2023 6K December 31, 2022 Research and development Research and development expenditures are expensed as incurred. Recent accounting pronouncements There were no six June 30, 2023 |
Note 3 - Revenue Recognition
Note 3 - Revenue Recognition | 6 Months Ended |
Jun. 30, 2023 | |
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. The Company was not three six June 30, 2023 2022 |
Note 4 - Lease Receivable
Note 4 - Lease Receivable | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Lessor, Sales-type Leases [Text Block] | 4. The Company has entered into an Industrial Lease Agreement with LINICO Corporation, a Nevada corporation ("LINICO"), dated February 15, 2021 April 1, 2021 March 31, 2023. October 1, 2022 March 31, 2023. October 15, 2021, second October 25, 2022. March 31, 2023, 2500 April 26, 2023 , 11, The lease agreement was a triple-net lease pursuant to which LINICO was responsible for all fixed costs, including maintenance, utilities, insurance, and property taxes. The lease agreement provided for LINICO’s monthly lease payments starting at $68,000 per month and increasing to $100,640 in the last six six June 30, 2023 |
Note 5 - Inventory
Note 5 - Inventory | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 5. Inventory consisted of the following (in thousands): June 30, 2023 December 31, 2022 Finished goods $ 28 $ 28 Work in process — — Raw materials 603 250 Total inventory $ 631 $ 278 |
Note 6 - Assets Held for Sale
Note 6 - Assets Held for Sale | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | 6. Assets are classified as held for sale when, among other factors, they are identified and marketed for sale in their present condition, management is committed to their disposal, and the sale of the asset is probable within one no June 30, 2023 |
Note 7 - Property, Plant and Eq
Note 7 - Property, Plant and Equipment, Net | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 7. Property, plant and equipment, net, consisted of the following (in thousands): Useful Life Asset Class (Years) June 30, 2023 December 31, 2022 Operational equipment 3 - 10 $ 4,501 $ 1,445 Lab equipment 5 730 730 Computer equipment 3 6 6 Office furniture and equipment 3 90 90 Leasehold improvements 2.5 80 80 Land - 1,141 — Building 39 3,131 — Equipment under construction 3,789 6,486 13,468 8,837 Less: accumulated depreciation (1,517 ) (1,494 ) Total property, plant and equipment, net $ 11,951 $ 7,343 Property, plant and equipment depreciation expense was $0.2 million and $0.3 million for the three six June 30, 2023 three six June 30, 2022 |
Note 8 - Investments
Note 8 - Investments | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Investment [Text Block] | 8. On February 15, 2021, three 500 $1,000 three March 31, 2022, 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 Inc., a Nevada corporation (NYSE-MKT: LODE), is the beneficial owner of approximately 88% of the common shares of LINICO. The Company's Chief Financial Officer, Judd Merrill, was a member of the board of directors of Comstock Inc. until April 5, 2023. |
Note 9 - Accrued Expenses
Note 9 - Accrued Expenses | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | 9. Accrued expenses consist of the following (in thousands): June 30, 2023 December 31, 2022 Payroll related $ 1,134 $ 418 Property, plant and equipment related 560 770 Other 171 41 Professional services 121 51 Class action settlement — 500 $ 1,986 $ 1,780 |
Note 10 - Leases
Note 10 - Leases | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Lessee, Operating and Finance Leases [Text Block] | 10. As of June 30, 2023 two two one Based on the present value of the lease payments for the remaining lease term of the Company's existing leases, as of June 30, 2023 June 30, 2022 The Company currently maintains two November 2021, October 2024. second September 2023. Information related to the Company's right-of-use assets and related lease liabilities were as follows (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Cash paid for operating lease liabilities $ 66 $ 150 $ 133 $ 214 Operating lease cost $ 65 $ 141 $ 131 $ 207 Cash paid for finance lease liabilities $ 15 $ 15 $ 17 $ 29 Interest expense $ 2 $ 2 $ 2 $ 5 June 30, 2023 Weighted-average remaining lease term (years) - operating leases 1.4 Weighted-average discount rate - operating leases 6.16 % Weighted-average remaining lease term (years) - finance leases 0.8 Weighted-average discount rate - finance leases 7.48 % Future maturities of lease liabilities as of June 30, 2023 Due in 12-month period ended June 30, Operating Leases Finance Leases 2023 $ 269 $ 65 2024 $ 102 $ 18 2025 $ — $ — Less imputed interest $ (16 ) $ (4 ) Total lease liabilities $ 355 $ 79 Current lease liabilities $ 255 $ 61 Non-current lease liabilities $ 100 $ 18 $ 355 $ 79 |
Note 11 - Notes Payable
Note 11 - Notes Payable | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 11. On September 30, 2022, 1 April 25, 2022, 2006 March 31, 2006 .8333% first twenty-four September 29, 2024. first 6 April 26, 2023, April 26, 2023 On February 1, 2023, 2999 89434 first twenty-four March 1, 2025. 9 first Notes payable is comprised of the following (in thousands): June 30, 2023 December 31, 2022 Notes payable, current portion The Lenders, net of issuance costs $ — $ 5,899 Summit Investment Services, LLC, net of issuance costs $ 34 $ — Total notes payable, current portion $ 34 $ 5,899 Notes payable, non-current portion Summit Investment Services, LLC, net of issuance costs $ 2,908 $ — Total notes payable, non-current portion $ 2,908 $ — |
Note 12 - Stockholders' Equity
Note 12 - Stockholders' Equity | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Equity [Text Block] | 12. Shares issued During the six June 30, 2023 six June 30, 2023 During the six June 30, 2023 During the six June 30, 2023 During the six June 30, 2023 During the six June 30, 2023 During the six June 30, 2023 During the six June 30, 2023 Stock-based compensation The stock-based compensation expense was allocated as follows: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Plant operations $ 18 $ 23 $ 47 $ 48 Research and development cost 22 18 40 36 General and administrative expense 559 493 1,199 1,055 Total $ 599 $ 534 $ 1,286 $ 1,139 There were no options issued during the three six June 30, 2023 three six June 30, 2022 Restricted stock units During the first 2023, three During the second 2023, twelve |
Note 13 - Commitments and Conti
Note 13 - Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 13. Legal proceedings See Item 1. |
Note 14 - Subsequent Events
Note 14 - Subsequent Events | 6 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 14. On July 18, 2023, August 4, 2023. In addition to the capital investment, the Company entered into an Agreement to Execute a License Agreement (“Yulho Agreement”) with Yulho pursuant to which each party has agreed to use their good faith best efforts to negotiate and execute a definitive license agreement (“Yulho License Agreement”) within the 75 days following execution of the Yulho Agreement. Pursuant to the proposed Yulho License Agreement, the Company will grant Yulho a license to our AquaRefining technology for Yulho’s use in recycling lithium-ion batteries in the Republic of Korea. Under the proposed Yulho License Agreement, Yulho will pay the Company a royalty on net sales. The Company will agree to support and assist Yulho in business development efforts in establishing offtake partnerships for the Yulho recycled metals. The Company will also work with Yulho to engage with potential partners to foster and expand business opportunities. The Yulho License Agreement is expected to contain customary representations, warranties and covenants for agreements of such nature. On July 21, 2023, The Company has evaluated subsequent events through the date which the condensed consolidated financial statements were available to be issued. Based upon this review, the Company did not |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2023 | |
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 Accounting Standards Updates ("ASU") of the Financial Accounting Standards Board (“FASB”) and pursuant to the rules and regulations of the SEC. Accordingly, they do not June 30, 2023 three six June 30, 2023 June 30, 2022 three six June 30, 2023 June 30, 2022 six June 30, 2023 June 30, 2022 December 31, 2022 not December 31, 2022 10 March 9, 2023. The results of operations for the three six June 30, 2023 not may December 31, 2023 |
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, valuation allowances for deferred tax assets, the determination of stock-based compensation expense and the determination of the fair value of stock warrants issued. Actual results could differ from those estimates. |
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and cash equivalents The Company considers all highly liquid instruments with original or remaining maturities of ninety may |
Inventory, Policy [Policy Text Block] | Inventory Inventory is stated at the lower of cost or net realizable value. Cost is recorded on a first first not |
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 anti-dilutive due to a net loss in the periods presented and, therefore, were excluded from the dilutive weighted average securities computation for the three six June 30 Three Months Ended June 30, Six Months Ended June 30, Excluded potentially dilutive weighted average securities (1): 2023 2022 2023 2022 Options to purchase common stock 417,749 1,020,949 704,316 1,023,814 Unvested restricted stock units 6,181,141 4,126,930 5,770,715 4,277,456 Financing warrants to purchase common stock 6,372 6,372 6,372 6,372 Total potential dilutive weighted average securities 6,605,262 5,154,251 6,481,403 5,307,642 ( 1 Securities are presented on a weighted average outstanding calculation as required if the securities were dilutive. |
Property, Plant and Equipment, Policy [Policy Text Block] | Property, plant and equipment, net Property, plant and equipment are stated at cost net of accumulated depreciation. Depreciation on property, plant and equipment is calculated on the straight-line basis over the estimated useful lives of the assets. Leasehold improvements are depreciated over the shorter of the life of the asset or the remaining term of the lease. We periodically evaluate our property, plant and equipment assets for indications that the carrying amount of an asset may not |
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | Intellectual property, net Intellectual property consists of patent applications contributed to the Company by the founding stockholders and patent applications for technology developed by the Company. The useful life of this intellectual property has been determined to be ten may not |
Investment, Policy [Policy Text Block] | Investment in LINICO Investments, which may not |
Lessee, Leases [Policy Text Block] | Leases The Company determines if an arrangement is a lease at inception. Operating lease right-of-use assets (“ROU assets”) and short-term and long-term lease liabilities are included in the condensed consolidated balance sheets. ROU assets represent the right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating and finance lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of the Company’s leases do not may 12 |
Segment Reporting, Policy [Policy Text Block] | Segment and geographic information Our chief operating decision maker (“CODM”) is the Chief Executive Officer. 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 CODM in deciding how to allocate resources and in assessing performance. The CODM views its operations and manages its business in one operating segment, and the Company operates in only one |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of credit risk The Company did not three six June 30, 2023 2022 second 2022 not June 30, 2023 December 31, 2022 June 30, 2023 6K December 31, 2022 |
Research and Development Expense, Policy [Policy Text Block] | Research and development Research and development expenditures are expensed as incurred. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent accounting pronouncements There were no six June 30, 2023 |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, Excluded potentially dilutive weighted average securities (1): 2023 2022 2023 2022 Options to purchase common stock 417,749 1,020,949 704,316 1,023,814 Unvested restricted stock units 6,181,141 4,126,930 5,770,715 4,277,456 Financing warrants to purchase common stock 6,372 6,372 6,372 6,372 Total potential dilutive weighted average securities 6,605,262 5,154,251 6,481,403 5,307,642 |
Note 5 - Inventory (Tables)
Note 5 - Inventory (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | June 30, 2023 December 31, 2022 Finished goods $ 28 $ 28 Work in process — — Raw materials 603 250 Total inventory $ 631 $ 278 |
Note 7 - Property, Plant and _2
Note 7 - Property, Plant and Equipment, Net (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | Useful Life Asset Class (Years) June 30, 2023 December 31, 2022 Operational equipment 3 - 10 $ 4,501 $ 1,445 Lab equipment 5 730 730 Computer equipment 3 6 6 Office furniture and equipment 3 90 90 Leasehold improvements 2.5 80 80 Land - 1,141 — Building 39 3,131 — Equipment under construction 3,789 6,486 13,468 8,837 Less: accumulated depreciation (1,517 ) (1,494 ) Total property, plant and equipment, net $ 11,951 $ 7,343 |
Note 9 - Accrued Expenses (Tabl
Note 9 - Accrued Expenses (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | June 30, 2023 December 31, 2022 Payroll related $ 1,134 $ 418 Property, plant and equipment related 560 770 Other 171 41 Professional services 121 51 Class action settlement — 500 $ 1,986 $ 1,780 |
Note 10 - Leases (Tables)
Note 10 - Leases (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Cash paid for operating lease liabilities $ 66 $ 150 $ 133 $ 214 Operating lease cost $ 65 $ 141 $ 131 $ 207 Cash paid for finance lease liabilities $ 15 $ 15 $ 17 $ 29 Interest expense $ 2 $ 2 $ 2 $ 5 June 30, 2023 Weighted-average remaining lease term (years) - operating leases 1.4 Weighted-average discount rate - operating leases 6.16 % Weighted-average remaining lease term (years) - finance leases 0.8 Weighted-average discount rate - finance leases 7.48 % |
Lessee, Lease Liability, Maturity [Table Text Block] | Due in 12-month period ended June 30, Operating Leases Finance Leases 2023 $ 269 $ 65 2024 $ 102 $ 18 2025 $ — $ — Less imputed interest $ (16 ) $ (4 ) Total lease liabilities $ 355 $ 79 Current lease liabilities $ 255 $ 61 Non-current lease liabilities $ 100 $ 18 $ 355 $ 79 |
Note 11 - Notes Payable (Tables
Note 11 - Notes Payable (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | June 30, 2023 December 31, 2022 Notes payable, current portion The Lenders, net of issuance costs $ — $ 5,899 Summit Investment Services, LLC, net of issuance costs $ 34 $ — Total notes payable, current portion $ 34 $ 5,899 Notes payable, non-current portion Summit Investment Services, LLC, net of issuance costs $ 2,908 $ — Total notes payable, non-current portion $ 2,908 $ — |
Note 12 - Stockholders' Equity
Note 12 - Stockholders' Equity (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Plant operations $ 18 $ 23 $ 47 $ 48 Research and development cost 22 18 40 36 General and administrative expense 559 493 1,199 1,055 Total $ 599 $ 534 $ 1,286 $ 1,139 |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies (Details Textual) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2023 USD ($) | Jun. 30, 2022 USD ($) | Jun. 30, 2023 USD ($) | Jun. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) | |
Number of Operating Segments | 1 | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 0 | $ 4 | $ 0 | $ 4 | |
Accounts Receivable, after Allowance for Credit Loss, Current, Total | 104 | 104 | $ 12 | ||
Trade Accounts Receivable [Member] | |||||
Accounts Receivable, after Allowance for Credit Loss, Current, Total | 0 | 0 | $ 0 | ||
Sale of Inventory [Member] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 0 | $ 0 | $ 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 | 6 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | ||
Total potential dilutive securities (in shares) | 6,605,262 | 5,154,251 | 6,481,403 | 5,307,642 | |
Share-Based Payment Arrangement, Option [Member] | |||||
Total potential dilutive securities (in shares) | [1] | 417,749 | 1,020,949 | 704,316 | 1,023,814 |
Restricted Stock Units (RSUs) [Member] | |||||
Total potential dilutive securities (in shares) | 6,181,141 | 4,126,930 | 5,770,715 | 4,277,456 | |
Warrant [Member] | |||||
Total potential dilutive securities (in shares) | 6,372 | 6,372 | 6,372 | 6,372 | |
[1]Securities are presented on a weighted average outstanding calculation as required if the securities were dilutive. |
Note 3 - Revenue Recognition (D
Note 3 - Revenue Recognition (Details Textual) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Percentage of Revenue From Products Transferred at Point in Time | 100% | 100% | 100% | 100% |
Note 4 - Lease Receivable (Deta
Note 4 - Lease Receivable (Details Textual) | 6 Months Ended | ||||
Apr. 26, 2023 USD ($) | Jun. 30, 2023 USD ($) | Jun. 30, 2022 USD ($) | Mar. 31, 2023 USD ($) | Feb. 15, 2021 USD ($) ft² | |
Proceeds from Sale of Property, Plant, and Equipment | $ 67,000 | $ 1,145,000 | |||
Sales-Type Lease, Net Investment in Lease, Excluding Accrued Interest, after Allowance for Credit Loss, Total | $ 17,000,000 | ||||
Sales-Type Lease, Net Investment in Lease, Excluding Accrued Interest, after Allowance for Credit Loss, Implied Interest Rate | 0.50% | ||||
Proceeds from Sales-type Lease Payments, Financing Activities | 12,278,000 | $ 410,000 | |||
Sales-type Lease, Lease Income | $ 24,000 | ||||
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 | ||||
Recycling Facility at TRIC [Member] | Comstock [Member] | |||||
Proceeds from Sale of Property, Plant, and Equipment | $ 12,000,000 | ||||
Proceeds from Sale of Property Plant and Equipment, Net of Note Payable | $ 5,700,000 |
Note 5 - Inventory - Inventory
Note 5 - Inventory - Inventory (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Finished goods | $ 28 | $ 28 |
Work in process | 0 | 0 |
Raw materials | 603 | 250 |
Total inventory | $ 631 | $ 278 |
Note 7 - Property, Plant and _3
Note 7 - Property, Plant and Equipment, Net (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Depreciation | $ 0.2 | $ 0.1 | $ 0.3 | $ 0.2 |
Note 7 - Property, Plant and _4
Note 7 - Property, Plant and Equipment, Net - Property and Equipment, Net (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Property and equipment, gross | $ 13,468 | $ 8,837 |
Less: accumulated depreciation | (1,517) | (1,494) |
Total property, plant and equipment, net | 11,951 | 7,343 |
Operational Equipment [Member] | ||
Property and equipment, gross | $ 4,501 | 1,445 |
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 | $ 730 | 730 |
Computer Equipment [Member] | ||
Property and equipment, net, useful life (Year) | 3 years | |
Property and equipment, gross | $ 6 | 6 |
Office Furniture and Equipment [Member] | ||
Property and equipment, net, useful life (Year) | 3 years | |
Property and equipment, gross | $ 90 | 90 |
Leasehold Improvements [Member] | ||
Property and equipment, net, useful life (Year) | 2 years 6 months | |
Property and equipment, gross | $ 80 | 80 |
Land [Member] | ||
Property and equipment, gross | $ 1,141 | 0 |
Building [Member] | ||
Property and equipment, net, useful life (Year) | 39 years | |
Property and equipment, gross | $ 3,131 | 0 |
Construction in Progress [Member] | ||
Property and equipment, gross | $ 3,789 | $ 6,486 |
Note 8 - Investments (Details T
Note 8 - Investments (Details Textual) - USD ($) | 3 Months Ended | |
Feb. 15, 2021 | Mar. 31, 2022 | |
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 Noncontrolling Owners | 12% | |
LiNiCo [Member] | Comstock Mining Inc. [Member] | ||
Ownership Percentage | 88% | |
Series A Preferred Stock [Member] | LiNiCo [Member] | ||
Preferred Stock, Dividend Rate, Percentage | 8% | |
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 | |
LiNiCo [Member] | Series A Warrant [Member] | ||
Investment Warrant, Term (Year) | 3 years | |
Investment Warrant, Exercised During Period (in shares) | 500 | |
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 | |
Investment Owned, Balance, Shares (in shares) | 2,000 |
Note 9 - Accrued Expenses - Acc
Note 9 - Accrued Expenses - Accrued Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Payroll related | $ 1,134 | $ 418 |
Property, plant and equipment related | 560 | 770 |
Other | 171 | 41 |
Professional services | 121 | 51 |
Class action settlement | 0 | 500 |
Accrued Liabilities, Current | $ 1,986 | $ 1,780 |
Note 10 - Leases (Details Textu
Note 10 - Leases (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2023 | Jun. 30, 2022 |
Operating Lease, Right-of-Use Asset | $ 340 | $ 580 |
Operating Lease, Liability | 355 | |
Lease Liability, Current and Noncurrent Portion [Member] | ||
Operating Lease, Liability | $ 360 | $ 590 |
Real Estate Lease One [Member] | ||
Lessee, Operating Lease, Term of Contract (Month) | 36 months | |
Real Estate Lease Two [Member] | ||
Lessee, Operating Lease, Term of Contract (Month) | 37 months |
Note 10 - Leases - Right-of-Use
Note 10 - Leases - Right-of-Use Assets and Related Lease Liabilities (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Cash paid for operating lease liabilities | $ 66 | $ 150 | $ 133 | $ 214 |
Operating lease cost | 65 | 141 | 131 | 207 |
Cash paid for finance lease liabilities | 15 | 15 | 17 | 29 |
Interest expense | $ 2 | $ 2 | $ 2 | $ 5 |
Weighted-average remaining lease term (years) - operating leases (Year) | 1 year 4 months 24 days | 1 year 4 months 24 days | ||
Weighted-average discount rate - operating leases | 6.16% | 6.16% | ||
Weighted-average remaining lease term (years) - finance leases (Year) | 9 months 18 days | 9 months 18 days | ||
Weighted-average discount rate - finance leases | 7.48% | 7.48% |
Note 10 - Leases - Maturities o
Note 10 - Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Jun. 30, 2022 |
2023, operating lease | $ 269 | |
2023, finance lease | 65 | |
2024, operating lease | 102 | |
2024, finance lease | 18 | |
2025, operating lease | 0 | |
2025, finance lease | 0 | |
Less imputed interest, operating lease | (16) | |
Less imputed interest, finance lease | (4) | |
Total lease liabilities, operating lease | 355 | |
finance lease | 79 | |
Lease Liability, Current Portion [Member] | ||
Current lease liabilities, operating lease | 255 | |
Current lease liabilities, finance lease | 61 | |
Lease Liability, Noncurrent Portion [Member] | ||
Non-current lease liabilities, operating lease | 100 | |
Non-current lease liabilities, finance lease | 18 | |
Lease Liability, Current and Noncurrent Portion [Member] | ||
Total lease liabilities, operating lease | 360 | $ 590 |
operating lease | 355 | |
finance lease | $ 79 |
Note 11 - Notes Payable (Detail
Note 11 - Notes Payable (Details Textual) - Loan Agreement [Member] - Aqua Metals Reno, Inc [Member] - USD ($) | Feb. 01, 2023 | Sep. 30, 2022 |
Summit Investment Services, LLC [Member] | ||
Debt Instrument, Undivided Interest Rate | 90.8334% | |
Debt Instrument, Face Amount | $ 3,000,000 | |
Debt Instrument, Interest Rate, Stated Percentage | 9.50% | |
Debt Instrument Term, Interest Only Payments (Month) | 24 months | |
Debt Instrument, Guaranteed Minimum Interest | $ 213,750 | |
Darren McBride, Trustee of the Arduino 1 Trust, U/A Dated April 25, 2022 [Member] | ||
Debt Instrument, Undivided Interest Rate | 8.3333% | |
Jason Yelowitz, Trustee of the Jason Yelowitz 2006 Trust, Dated March 31, 2006 [Member] | ||
Debt Instrument, Undivided Interest Rate | 0.8333% | |
Lenders [Member] | ||
Debt Instrument, Face Amount | $ 6,000,000 | |
Debt Instrument, Interest Rate, Stated Percentage | 8.50% | |
Debt Instrument Term, Interest Only Payments (Month) | 24 months | |
Debt Instrument, Guaranteed Minimum Interest | $ 255,000 |
Note 11 - Notes Payable - Sched
Note 11 - Notes Payable - Schedule of Notes Payable (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Note payable, current portion | $ 34 | $ 5,899 |
Note payable, noncurrent | 2,908 | 0 |
Loan Agreement [Member] | Lenders [Member] | ||
Note payable, current portion | 0 | 5,899 |
Loan Agreement [Member] | Summit Investment Services, LLC [Member] | ||
Note payable, current portion | 34 | 0 |
Note payable, noncurrent | $ 2,908 | $ 0 |
Note 12 - Stockholders' Equit_2
Note 12 - Stockholders' Equity (Details Textual) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2023 USD ($) shares | Mar. 31, 2023 USD ($) shares | Jun. 30, 2022 shares | Jun. 30, 2023 USD ($) shares | Jun. 30, 2022 USD ($) shares | |
Share-Based Payment Arrangement, Shares Withheld for Tax Withholding Obligation (in shares) | 510,632 | ||||
Share-Based Payment Arrangement, Decrease for Tax Withholding Obligation | $ | $ 577,000 | ||||
Proceeds from Issuance of Common Stock | $ | $ 2,784,000 | $ 4,588,000 | |||
Stock Issued During Period, Shares, Issued for Class Action Settlement (in shares) | 469,366 | ||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans (in shares) | 192,707 | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 0 | 0 | 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) | 204,547 | 64,149 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Fair Value | $ | $ 225,000 | $ 70,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period, Number of Installments | 4 | 3 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 12 months | 3 years | |||
ATM [Member] | |||||
Stock Issued During Period, Shares, New Issues (in shares) | 2,409,707 | ||||
Proceeds from Issuance of Common Stock | $ | $ 2,800,000 | ||||
Management and Employees [Member] | |||||
Stock Issued During Period, Shares, Restricted Stock Award, Gross (in shares) | 789,616 | ||||
Board Members [Member] | |||||
Stock Issued During Period, Shares, Restricted Stock Award, Gross (in shares) | 91,147 | ||||
Former Board Member [Member] | |||||
Stock Issued During Period, Shares, Issued for Services (in shares) | 15,781 | ||||
Director [Member] | |||||
Stock Issued During Period, Shares, Issued for Services (in shares) | 57,375 |
Note 12 - Stockholders' Equit_3
Note 12 - Stockholders' Equity - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Stock-based compensation expense | $ 599 | $ 534 | $ 1,286 | $ 1,139 |
Cost of Sales [Member] | ||||
Stock-based compensation expense | 18 | 23 | 47 | 48 |
Research and Development Expense [Member] | ||||
Stock-based compensation expense | 22 | 18 | 40 | 36 |
General and Administrative Expense [Member] | ||||
Stock-based compensation expense | $ 559 | $ 493 | $ 1,199 | $ 1,055 |
Note 14 - Subsequent Events (De
Note 14 - Subsequent Events (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jul. 21, 2023 | Jul. 18, 2023 | Jun. 30, 2023 | Jun. 30, 2023 | Jun. 30, 2022 | |
Stock Issued During Period, Value, New Issues | $ 32 | $ 64 | |||
Proceeds from Issuance of Common Stock | $ 2,784 | $ 4,588 | |||
Subsequent Event [Member] | Yulho Co, Ltd. [Member] | Yulho License Agreement [Member] | |||||
Agreement, Period of Execution (Day) | 75 days | ||||
Subsequent Event [Member] | Yulho Offering [Member] | Yulho Co, Ltd. [Member] | |||||
Stock Issued During Period, Shares, New Issues (in shares) | 4,545,455 | ||||
Shares Issued, Price Per Share (in dollars per share) | $ 1.10 | ||||
Stock Issued During Period, Value, New Issues | $ 5,000 | ||||
Subsequent Event [Member] | July 2023 Public Offering [Member] | |||||
Stock Issued During Period, Shares, New Issues (in shares) | 18,193,000 | ||||
Shares Issued, Price Per Share (in dollars per share) | $ 1.10 | ||||
Proceeds from Issuance of Common Stock | $ 18,500 |