Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2024 | Aug. 02, 2024 | |
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 | 2024 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2024 | |
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 | 135,799,315 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Current assets | ||
Cash and cash equivalents | $ 7,833 | $ 16,522 |
Note receivable - LINICO | 400 | 600 |
Accounts receivable | 0 | 67 |
Inventory | 908 | 929 |
Prepaid expenses and other current assets | 174 | 181 |
Total current assets | 9,315 | 18,299 |
Non-current assets | ||
Property, plant and equipment, net | 17,009 | 10,347 |
Intellectual property, net | 191 | 281 |
Other assets | 7,143 | 4,673 |
Total non-current assets | 24,343 | 15,301 |
Total assets | 33,658 | 33,600 |
Current liabilities | ||
Accounts payable | 1,679 | 1,836 |
Accrued Expenses | 2,908 | 2,467 |
Lease liability, current portion | 288 | 275 |
Note payable, current portion | 2,979 | 35 |
Total current liabilities | 7,854 | 4,613 |
Lease liability, non-current portion | 593 | 0 |
Note payable, non-current portion | 0 | 2,923 |
Total liabilities | 8,447 | 7,536 |
Commitments and contingencies (see Note 12) | ||
Stockholders’ equity | ||
Common stock; $0.001 par value; 300,000,000 shares authorized; 134,257,193 and 133,800,547, shares issued and outstanding as of June 30, 2024, respectively and 108,308,661 and 107,880,095, shares issued and outstanding as of December 31, 2023, respectively | 134 | 108 |
Additional paid-in capital | 260,554 | 249,687 |
Accumulated deficit | (235,117) | (223,215) |
Treasury stock, at cost; common shares: 456,646 and 428,566 as of June 30, 2024 and December 31, 2023, respectively | (360) | (516) |
Total stockholders’ equity | 25,211 | 26,064 |
Total liabilities and stockholders’ equity | $ 33,658 | $ 33,600 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares | Jun. 30, 2024 | Dec. 31, 2023 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 300,000,000 | 300,000,000 |
Common stock, shares issued (in shares) | 134,257,193 | 108,308,661 |
Common stock, shares outstanding (in shares) | 133,800,547 | 107,880,095 |
Treasury Stock, Common, Shares (in shares) | 456,646 | 428,566 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Operating cost and expense | ||||
Plant operations | $ 2,373 | $ 1,481 | $ 4,582 | $ 2,546 |
Research and development cost | 363 | 525 | 951 | 970 |
Gain on disposal of property, plant and equipment | 0 | (3) | 0 | (23) |
General and administrative expense | 3,426 | 2,849 | 6,421 | 5,855 |
Total operating expense | 6,162 | 4,852 | 11,954 | 9,348 |
Loss from operations | (6,162) | (4,852) | (11,954) | (9,348) |
Other income and expense | ||||
Interest expense | (84) | (255) | (190) | (431) |
Interest and other income | 99 | 348 | 245 | 414 |
Total other income (expense), net | 15 | 93 | 55 | (17) |
Loss before income tax expense | (6,147) | (4,759) | (11,899) | (9,365) |
Income tax expense | 3 | 0 | 3 | 0 |
Net loss | $ (6,150) | $ (4,759) | $ (11,902) | $ (9,365) |
Weighted average shares outstanding, basic and diluted (in shares) | 123,793,140 | 84,184,884 | 116,923,889 | 82,743,345 |
Basic and diluted net loss per share (in dollars per share) | $ (0.05) | $ (0.06) | $ (0.1) | $ (0.11) |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Public Offering [Member] Common Stock Outstanding [Member] | Public Offering [Member] Additional Paid-in Capital [Member] | Public Offering [Member] Retained Earnings [Member] | Public Offering [Member] Treasury Stock, Common [Member] | Public Offering [Member] | ATM [Member] Common Stock Outstanding [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] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Treasury Stock, Common [Member] | Total |
Balance (in shares) at Dec. 31, 2022 | 79,481,751 | 0 | |||||||||||||
Balance at Dec. 31, 2022 | $ 79 | $ 220,114 | $ (199,277) | $ 0 | $ 20,916 | ||||||||||
Stock-based compensation | $ 0 | 1,285 | 0 | $ 0 | 1,285 | ||||||||||
Common stock issued to employees and directors, includes RSUs vesting and withholdings to satisfy tax withholdings on RSUs vesting (in shares) | 880,763 | 510,632 | |||||||||||||
Common stock issued to employees and directors, includes RSUs vesting and withholdings to satisfy tax withholdings on RSUs vesting | $ 1 | 0 | 0 | $ (577) | (576) | ||||||||||
Common stock issued for employee stock purchase plan sales (in shares) | 192,707 | ||||||||||||||
Common stock issued for employee stock purchase plan sales | $ 0 | 122 | 0 | 0 | 122 | ||||||||||
Common stock and warrants issued, net of transaction costs (in shares) | 2,409,707 | 57,375 | |||||||||||||
Common stock and warrants issued, net of transaction costs | $ 3 | $ 2,781 | $ 0 | $ 0 | $ 2,784 | $ 0 | 64 | 0 | 0 | 64 | |||||
Net loss | 0 | 0 | (9,365) | 0 | (9,365) | ||||||||||
Stock-based compensation | $ 0 | 1,285 | 0 | 0 | 1,285 | ||||||||||
RSUs issued for consulting services (in shares) | 15,781 | ||||||||||||||
RSUs issued for consulting services | $ 0 | 12 | 0 | 0 | 12 | ||||||||||
Common stock issued for class action settlement (in shares) | 469,366 | ||||||||||||||
Common stock issued for class action settlement | $ 1 | 500 | 0 | $ 0 | 501 | ||||||||||
Balance (in shares) at Jun. 30, 2023 | 83,507,450 | 510,632 | |||||||||||||
Balance at Jun. 30, 2023 | $ 84 | 224,878 | (208,642) | $ (577) | 15,743 | ||||||||||
Balance (in shares) at Mar. 31, 2023 | 82,670,169 | 510,632 | |||||||||||||
Balance at Mar. 31, 2023 | $ 83 | 223,453 | (203,883) | $ (577) | 19,076 | ||||||||||
Stock-based compensation | $ 0 | 599 | 0 | 0 | 599 | ||||||||||
Common stock issued to employees and directors, includes RSUs vesting and withholdings to satisfy tax withholdings on RSUs vesting (in shares) | 58,652 | ||||||||||||||
Common stock issued to employees and directors, includes RSUs vesting and withholdings to satisfy tax withholdings on RSUs vesting | $ 0 | 0 | 0 | $ 0 | 0 | ||||||||||
Common stock and warrants issued, net of transaction costs (in shares) | 746,754 | 31,875 | 0 | ||||||||||||
Common stock and warrants issued, net of transaction costs | $ 1 | 794 | 0 | 0 | $ 795 | $ 0 | 32 | 0 | $ 0 | 32 | |||||
Net loss | 0 | 0 | (4,759) | 0 | (4,759) | ||||||||||
Stock-based compensation | $ 0 | 599 | 0 | $ 0 | 599 | ||||||||||
Balance (in shares) at Jun. 30, 2023 | 83,507,450 | 510,632 | |||||||||||||
Balance at Jun. 30, 2023 | $ 84 | 224,878 | (208,642) | $ (577) | 15,743 | ||||||||||
Balance (in shares) at Dec. 31, 2023 | 107,880,095 | 428,566 | |||||||||||||
Balance at Dec. 31, 2023 | $ 108 | 249,687 | (223,215) | $ (516) | 26,064 | ||||||||||
Stock-based compensation | $ 0 | 1,525 | 0 | $ 0 | 1,525 | ||||||||||
Common stock issued to employees and directors, includes RSUs vesting and withholdings to satisfy tax withholdings on RSUs vesting (in shares) | 687,187 | 28,080 | |||||||||||||
Common stock issued to employees and directors, includes RSUs vesting and withholdings to satisfy tax withholdings on RSUs vesting | $ 1 | (516) | 0 | $ 156 | $ (359) | ||||||||||
Common stock issued for employee stock purchase plan sales (in shares) | 68,882 | 68,882 | |||||||||||||
Common stock issued for employee stock purchase plan sales | $ 0 | 35 | 0 | 0 | $ 35 | ||||||||||
Common stock and warrants issued, net of transaction costs (in shares) | 20,125,000 | 5,039,383 | 5,039,383 | ||||||||||||
Common stock and warrants issued, net of transaction costs | $ 20 | $ 7,286 | $ 0 | $ 0 | $ 7,306 | $ 5 | 2,537 | 0 | 0 | $ 2,542 | |||||
Net loss | 0 | 0 | (11,902) | 0 | (11,902) | ||||||||||
Stock-based compensation | $ 0 | 1,525 | 0 | $ 0 | 1,525 | ||||||||||
Balance (in shares) at Jun. 30, 2024 | 133,800,547 | 456,646 | |||||||||||||
Balance at Jun. 30, 2024 | $ 134 | 260,554 | (235,117) | $ (360) | 25,211 | ||||||||||
Balance (in shares) at Mar. 31, 2024 | 112,674,915 | 456,646 | |||||||||||||
Balance at Mar. 31, 2024 | $ 113 | 252,066 | (228,967) | $ (360) | 22,852 | ||||||||||
Stock-based compensation | $ 0 | 751 | 0 | 0 | 751 | ||||||||||
Common stock issued to employees and directors, includes RSUs vesting and withholdings to satisfy tax withholdings on RSUs vesting (in shares) | 47,978 | ||||||||||||||
Common stock issued to employees and directors, includes RSUs vesting and withholdings to satisfy tax withholdings on RSUs vesting | $ 0 | 0 | 0 | 0 | 0 | ||||||||||
Common stock issued for employee stock purchase plan sales (in shares) | 68,882 | ||||||||||||||
Common stock issued for employee stock purchase plan sales | $ 0 | 35 | 0 | 0 | 35 | ||||||||||
Common stock and warrants issued, net of transaction costs (in shares) | 20,125,000 | 883,772 | |||||||||||||
Common stock and warrants issued, net of transaction costs | $ 20 | $ 7,286 | $ 0 | $ 0 | $ 7,306 | $ 1 | $ 416 | $ 0 | $ 0 | $ 417 | |||||
Net loss | 0 | 0 | (6,150) | 0 | (6,150) | ||||||||||
Stock-based compensation | $ 0 | 751 | 0 | $ 0 | 751 | ||||||||||
Balance (in shares) at Jun. 30, 2024 | 133,800,547 | 456,646 | |||||||||||||
Balance at Jun. 30, 2024 | $ 134 | $ 260,554 | $ (235,117) | $ (360) | $ 25,211 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Public Offering [Member] | ||||
Common stock issued, transaction costs | $ 744 | $ 744 | ||
ATM [Member] | ||||
Common stock issued, transaction costs | $ 13 | $ 25 | $ 87 | $ 87 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Cash flows from operating activities: | ||
Net loss | $ (11,902,000) | $ (9,365,000) |
Reconciliation of net loss to net cash used in operating activities | ||
Depreciation and ROU asset amortization | 575,000 | 455,000 |
Amortization of intellectual property | 90,000 | 90,000 |
Fair value of common stock issued for director fees | 0 | 64,000 |
Fair value of common stock issued for consulting services | 0 | 12,000 |
Stock-based compensation | 1,525,000 | 1,286,000 |
Amortization of deferred financing costs | 20,000 | 112,000 |
Gain on disposal of property, plant and equipment | 0 | (23,000) |
Inventory net realizable value adjustment | 240,000 | 0 |
Write off of debt issuance costs | 563,000 | 0 |
Changes in operating assets and liabilities | ||
Proceeds from leasing of building | 0 | 12,278,000 |
Accounts receivable | 67,000 | (90,000) |
Inventory | (219,000) | (353,000) |
Prepaid expenses and other current assets | 6,000 | 80,000 |
Accounts payable | (29,000) | 49,000 |
Accrued expenses | 1,092,000 | 1,024,000 |
Other assets and liabilities | (30,000) | (147,000) |
Net cash provided by (used in) operating activities | (8,002,000) | 5,472,000 |
Cash flows from investing activities: | ||
Purchases of property, plant and equipment | (6,440,000) | (5,503,000) |
Proceeds from sale of equipment | 0 | 67,000 |
Proceeds from note receivable | 200,000 | 0 |
Equipment deposits | (3,522,000) | (75,000) |
Net cash used in investing activities | (9,762,000) | (5,511,000) |
Cash flows from financing activities: | ||
Proceeds from issuance of common stock and warrants, net of transaction costs | 7,306,000 | 0 |
Proceeds from employee stock purchase plan | 35,000 | 14,000 |
Payments on note payable | 0 | (6,000,000) |
Principal payments on finance leases | (35,000) | 0 |
Proceeds from note payable, net | 0 | 2,932,000 |
Cash paid for tax withholdings on RSUs vesting | (360,000) | (577,000) |
Debt issuance costs | (413,000) | 0 |
Proceeds from ATM, net | 2,542,000 | 2,784,000 |
Net cash provided by (used in) financing activities | 9,075,000 | (847,000) |
Net decrease in cash and cash equivalents | (8,689,000) | (886,000) |
Cash and cash equivalents at beginning of period | 16,522,000 | 7,082,000 |
Cash and cash equivalents at end of period | 7,833,000 | 6,196,000 |
Supplemental disclosure of cash flows information | ||
Cash paid for income taxes | 3,000 | 0 |
Cash paid for interest | 166,000 | 309,000 |
Supplemental disclosure of non-cash transactions | ||
Acquisitions of property, plant and equipment included in accounts payable | 945,000 | 349,000 |
Acquisitions of property, plant and equipment included in accrued expenses | 646,000 | 210,000 |
Equity included in accrued expenses | $ 0 | $ 608,000 |
Note 1 - Organization
Note 1 - Organization | 6 Months Ended |
Jun. 30, 2024 | |
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. 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 our first Liquidity and Going Concern Assessment For the six June 30, 2024 2023 , June 30, 2024 , February 1, 2025 10. not Management believes that the Company does not twelve not twelve The accompanying condensed consolidated financial statements have been prepared under the assumption the Company will continue to operate as a going concern, which contemplates the realization of assets and the settlement of liabilities in the normal course of business. The condensed consolidated financial statements do not may Reclassification of Prior Period Financial Statements For the three six June 30, 2024 December 31, 2023 10 We have reclassified the prior period Condensed Consolidated Statement of Operations included in this filing to conform to the current period presentation, as shown in the following table (in thousands): Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 As Reported Reclassification As Reclassified As Reported Reclassification As Reclassified Operating cost and expense Gain on disposal of property, plant and equipment — (3 ) (3 ) — (23 ) (23 ) Total operating expense $ 4,855 $ (3 ) $ 4,852 $ 9,371 $ (23 ) $ 9,348 Income (loss) from operations $ (4,855 ) $ 3 $ (4,852 ) $ (9,371 ) $ 23 $ (9,348 ) Other income and expense Gain on disposal of property, plant and equipment 3 (3 ) — 23 (23 ) — Total other income (expense), net $ 96 $ (3 ) $ 93 $ 6 $ (23 ) $ (17 ) |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2024 | |
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, 2023 10 December 31, 2023 March 28, 2024. no three six June 30, 2024 Basis of presentation The accompanying unaudited condensed consolidated financial statements of Aqua Metals, Inc. and subsidiaries (collectively, the “Company” or “Aqua Metals”) have been prepared in accordance with the interim reporting requirements of Form 10 December 31, 2023 10 March 28, 2024. not June 30, 2024 three six June 30, 2024 June 30, 2023 three six June 30, 2024 June 30, 2023 six June 30, 2024 June 30, 2023 December 31, 2023 not The results of operations for the three six June 30, 2024 not may December 31, 2024 Principles of consolidation The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its subsidiaries, all of which are wholly-owned subsidiaries. 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, and the determination of stock-based compensation expense. 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 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): 2024 2023 2024 2023 Unvested restricted stock units 8,443,517 6,181,141 8,350,321 5,770,715 Options to purchase common stock — 417,749 — 704,316 Financing warrants to purchase common stock 11,597,752 6,372 6,084,422 6,372 Total potential dilutive weighted average securities 20,041,269 6,605,262 14,434,743 6,481,403 ( 1 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 Concentration of credit risk The Company did not three six June 30, 2024 2023 no June 30, 2024 December 31, 2023 December 31, 2023 6K Recent accounting pronouncements Recently issued accounting pronouncements not yet adopted In November 2023, No. 2023 07, 280 December 15, 2023, December 15, 2024. In December 2023, No. 2023 09, 740 December 15, 2024. not |
Note 3 - Revenue Recognition
Note 3 - Revenue Recognition | 6 Months Ended |
Jun. 30, 2024 | |
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, 2024 2023 |
Note 4 - Note Receivable
Note 4 - Note Receivable | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 4. During the year ended December 31, 2023, 12 January 2024. June 30, 2024 December 31, 2023 The Company accounted for the LINICO investment under ASC 321, |
Note 5 - Inventory
Note 5 - Inventory | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 5. Inventory consisted of the following (in thousands): June 30, 2024 December 31, 2023 Work in process $ 157 $ 135 Raw materials 751 794 Total inventory $ 908 $ 929 We write-down inventory when evidence exists that the net realizable value of inventory is less than the cost. During the three six June 30, 2024 |
Note 6 - Property and Equipment
Note 6 - Property and Equipment, Net | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 6. Property, plant and equipment, net, consisted of the following (in thousands): Useful Life Asset Class (Years) June 30, 2024 December 31, 2023 Operational equipment 3 - 10 $ 3,581 $ 3,581 Lab equipment 5 1,144 817 Computer equipment 3 111 89 Office furniture and equipment 3 90 90 Leasehold improvements 2.5 80 80 Land - 1,141 1,141 Building 39 3,131 3,131 Equipment under construction 9,813 3,047 19,091 11,976 Less: accumulated depreciation (2,082 ) (1,629 ) Total property, plant and equipment, net $ 17,009 $ 10,347 Property, plant and equipment depreciation expense was $235,000 and $453,000 for the three six June 30, 2024 three six June 30, 2023 |
Note 7 - Other Assets
Note 7 - Other Assets | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Other Assets Disclosure [Text Block] | 7. Other assets consist of the following (in thousands): June 30, 2024 December 31, 2023 Equipment deposits (1) $ 6,466 $ 4,291 Nevada facilities Right of Use Assets (2) 657 222 Other assets 20 160 Total other assets, non-current $ 7,143 $ 4,673 ( 1 ( 2 9. |
Note 8 - Accrued Expenses
Note 8 - Accrued Expenses | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | 8. Accrued expenses consist of the following (in thousands): June 30, 2024 December 31, 2023 Property, plant and equipment related $ 1,207 $ 1,857 Payroll related 1,527 506 Professional services 105 26 Other 69 78 Total accrued expenses $ 2,908 $ 2,467 |
Note 9 - Leases
Note 9 - Leases | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Lessee, Operating and Finance Leases [Text Block] | 9. As of June 30, 2024 two two one On March 14, 2024, 5370 not On June 9, 2024, 160 not The Company currently maintains two November 2021, October 2024. April 1, 2024 2029. 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, 2024 2023 2024 2023 Cash paid for operating lease liabilities $ 68 $ 66 $ 136 $ 133 Operating lease cost $ 71 $ 65 $ 137 $ 131 Cash paid for finance lease liabilities $ 25 $ 15 $ 39 $ 17 Interest expense $ 3 $ 2 $ 4 $ 2 June 30, 2024 June 30, 2023 Weighted-average remaining lease term (years) - operating leases 2.6 1.4 Weighted-average discount rate - operating leases 10.48 % 6.16 % Weighted-average remaining lease term (years) - finance leases 2.5 0.8 Weighted-average discount rate - finance leases 5.12 % 7.48 % Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 517 Future maturities of lease liabilities as of June 30, 2024 Due in 12-month period ended June 30, Operating Leases Finance Leases 2024 $ 140 $ 42 2025 291 47 2026 182 47 2027 149 107 Less imputed interest (99 ) (23 ) Total lease liabilities $ 661 $ 220 Current lease liabilities $ 231 $ 57 Non-current lease liabilities 430 163 Total lease liabilities $ 661 $ 220 |
Note 10 - Note Payable
Note 10 - Note Payable | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 10. On February 1, 2023, 2999 89434 first twenty-four February 1, 2025. 9 June 30, 2024 December 31, 2023 first Note payable is comprised of the following (in thousands): June 30, 2024 December 31, 2023 Note payable, current portion Summit Investment Services, LLC $ 3,000 $ 35 Less issuance costs (21 ) — Total note payable, current portion $ 2,979 $ 35 Note payable, non-current portion Summit Investment Services, LLC $ — $ 3,000 Less issuance costs — (77 ) Total note payable, non-current portion $ — $ 2,923 |
Note 11 - Stockholders' Equity
Note 11 - Stockholders' Equity | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Equity [Text Block] | 11. Shares issued During the six June 30, 2024 six June 30, 2024 During the six June 30, 2024 During the six June 30, 2024 During the six June 30, 2024 In May 2024, one $0.01 $7.3 Warrant issued In connection with the above-described May 2024 , 20,125,000 May 14, 2024. May 14, 2029. In May 2024 , May 14, 2029. Stock-based compensation The stock-based compensation expense was allocated as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Plant operations $ 99 $ 18 $ 185 $ 47 Research and development cost 16 22 36 40 General and administrative expense 636 559 1,304 1,199 Total $ 751 $ 599 $ 1,525 $ 1,286 2014 We have adopted the Aqua Metals, Inc. 2014 June 30, 2024 2019 In 2019, 2019 “2019 2019 2019 2019 may may not may not June 30, 2024 Number of Shares Number of Available for RSUs Grant Outstanding Balances, December 31, 2023 1,420,454 8,654,491 Granted (236,522 ) 236,522 Exercised/ Released — (1,143,833 ) Forfeited 157,261 (157,261 ) Returned to Plan 456,646 — Balances, June 30, 2024 1,797,839 7,589,919 Restricted stock units During the first 2024, three three During the second 2024, three three |
Note 12 - Commitments and Conti
Note 12 - Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 12. We may , may not |
Note 13 - Subsequent Events
Note 13 - Subsequent Events | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 13. On August 5, 2024 not |
Insider Trading Arrangements
Insider Trading Arrangements | 6 Months Ended |
Jun. 30, 2024 | |
Insider Trading Arr Line Items | |
Material Terms of Trading Arrangement [Text Block] | OTHER |
Rule 10b5-1 Arrangement Adopted [Flag] | false |
Non-Rule 10b5-1 Arrangement Adopted [Flag] | false |
Rule 10b5-1 Arrangement Terminated [Flag] | false |
Non-Rule 10b5-1 Arrangement Terminated [Flag] | false |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2024 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of presentation The accompanying unaudited condensed consolidated financial statements of Aqua Metals, Inc. and subsidiaries (collectively, the “Company” or “Aqua Metals”) have been prepared in accordance with the interim reporting requirements of Form 10 December 31, 2023 10 March 28, 2024. not June 30, 2024 three six June 30, 2024 June 30, 2023 three six June 30, 2024 June 30, 2023 six June 30, 2024 June 30, 2023 December 31, 2023 not The results of operations for the three six June 30, 2024 not may December 31, 2024 |
Consolidation, Policy [Policy Text Block] | Principles of consolidation The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its subsidiaries, all of which are wholly-owned subsidiaries. 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, and the determination of stock-based compensation expense. 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 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): 2024 2023 2024 2023 Unvested restricted stock units 8,443,517 6,181,141 8,350,321 5,770,715 Options to purchase common stock — 417,749 — 704,316 Financing warrants to purchase common stock 11,597,752 6,372 6,084,422 6,372 Total potential dilutive weighted average securities 20,041,269 6,605,262 14,434,743 6,481,403 ( 1 |
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 |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of credit risk The Company did not three six June 30, 2024 2023 no June 30, 2024 December 31, 2023 December 31, 2023 6K |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent accounting pronouncements Recently issued accounting pronouncements not yet adopted In November 2023, No. 2023 07, 280 December 15, 2023, December 15, 2024. In December 2023, No. 2023 09, 740 December 15, 2024. not |
Note 1 - Organization (Tables)
Note 1 - Organization (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block] | Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 As Reported Reclassification As Reclassified As Reported Reclassification As Reclassified Operating cost and expense Gain on disposal of property, plant and equipment — (3 ) (3 ) — (23 ) (23 ) Total operating expense $ 4,855 $ (3 ) $ 4,852 $ 9,371 $ (23 ) $ 9,348 Income (loss) from operations $ (4,855 ) $ 3 $ (4,852 ) $ (9,371 ) $ 23 $ (9,348 ) Other income and expense Gain on disposal of property, plant and equipment 3 (3 ) — 23 (23 ) — Total other income (expense), net $ 96 $ (3 ) $ 93 $ 6 $ (23 ) $ (17 ) |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
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): 2024 2023 2024 2023 Unvested restricted stock units 8,443,517 6,181,141 8,350,321 5,770,715 Options to purchase common stock — 417,749 — 704,316 Financing warrants to purchase common stock 11,597,752 6,372 6,084,422 6,372 Total potential dilutive weighted average securities 20,041,269 6,605,262 14,434,743 6,481,403 |
Note 5 - Inventory (Tables)
Note 5 - Inventory (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | June 30, 2024 December 31, 2023 Work in process $ 157 $ 135 Raw materials 751 794 Total inventory $ 908 $ 929 |
Note 6 - Property and Equipme_2
Note 6 - Property and Equipment, Net (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | Useful Life Asset Class (Years) June 30, 2024 December 31, 2023 Operational equipment 3 - 10 $ 3,581 $ 3,581 Lab equipment 5 1,144 817 Computer equipment 3 111 89 Office furniture and equipment 3 90 90 Leasehold improvements 2.5 80 80 Land - 1,141 1,141 Building 39 3,131 3,131 Equipment under construction 9,813 3,047 19,091 11,976 Less: accumulated depreciation (2,082 ) (1,629 ) Total property, plant and equipment, net $ 17,009 $ 10,347 |
Note 7 - Other Assets (Tables)
Note 7 - Other Assets (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Schedule of Other Assets [Table Text Block] | June 30, 2024 December 31, 2023 Equipment deposits (1) $ 6,466 $ 4,291 Nevada facilities Right of Use Assets (2) 657 222 Other assets 20 160 Total other assets, non-current $ 7,143 $ 4,673 |
Note 8 - Accrued Expenses (Tabl
Note 8 - Accrued Expenses (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | June 30, 2024 December 31, 2023 Property, plant and equipment related $ 1,207 $ 1,857 Payroll related 1,527 506 Professional services 105 26 Other 69 78 Total accrued expenses $ 2,908 $ 2,467 |
Note 9 - Leases (Tables)
Note 9 - Leases (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Cash paid for operating lease liabilities $ 68 $ 66 $ 136 $ 133 Operating lease cost $ 71 $ 65 $ 137 $ 131 Cash paid for finance lease liabilities $ 25 $ 15 $ 39 $ 17 Interest expense $ 3 $ 2 $ 4 $ 2 June 30, 2024 June 30, 2023 Weighted-average remaining lease term (years) - operating leases 2.6 1.4 Weighted-average discount rate - operating leases 10.48 % 6.16 % Weighted-average remaining lease term (years) - finance leases 2.5 0.8 Weighted-average discount rate - finance leases 5.12 % 7.48 % Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 517 |
Lessee, Lease Liability, Maturity [Table Text Block] | Due in 12-month period ended June 30, Operating Leases Finance Leases 2024 $ 140 $ 42 2025 291 47 2026 182 47 2027 149 107 Less imputed interest (99 ) (23 ) Total lease liabilities $ 661 $ 220 Current lease liabilities $ 231 $ 57 Non-current lease liabilities 430 163 Total lease liabilities $ 661 $ 220 |
Note 10 - Note Payable (Tables)
Note 10 - Note Payable (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | June 30, 2024 December 31, 2023 Note payable, current portion Summit Investment Services, LLC $ 3,000 $ 35 Less issuance costs (21 ) — Total note payable, current portion $ 2,979 $ 35 Note payable, non-current portion Summit Investment Services, LLC $ — $ 3,000 Less issuance costs — (77 ) Total note payable, non-current portion $ — $ 2,923 |
Note 11 - Stockholders' Equity
Note 11 - Stockholders' Equity (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Plant operations $ 99 $ 18 $ 185 $ 47 Research and development cost 16 22 36 40 General and administrative expense 636 559 1,304 1,199 Total $ 751 $ 599 $ 1,525 $ 1,286 |
Share-based Payment Arrangement, Option and Restricted Stock Unit, Activity [Table Text Block] | Number of Shares Number of Available for RSUs Grant Outstanding Balances, December 31, 2023 1,420,454 8,654,491 Granted (236,522 ) 236,522 Exercised/ Released — (1,143,833 ) Forfeited 157,261 (157,261 ) Returned to Plan 456,646 — Balances, June 30, 2024 1,797,839 7,589,919 |
Note 1 - Organization (Details
Note 1 - Organization (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | Feb. 01, 2023 | |
Net Income (Loss) Attributable to Parent | $ (6,150) | $ (4,759) | $ (11,902) | $ (9,365) | ||
Net Cash Provided by (Used in) Operating Activities | (8,002) | 5,472 | ||||
Proceeds from Sales-type Lease Payments, Financing Activities | 0 | $ 12,278 | ||||
Cash and Cash Equivalents, at Carrying Value | 7,833 | 7,833 | $ 16,522 | |||
Liabilities, Current | 7,854 | 7,854 | 4,613 | |||
Retained Earnings (Accumulated Deficit) | $ (235,117) | $ (235,117) | $ (223,215) | |||
Summit Investment Services, LLC [Member] | Loan Agreement [Member] | Aqua Metals Reno, Inc [Member] | ||||||
Debt Instrument, Face Amount | $ 3,000 |
Note 1 - Organization - Correct
Note 1 - Organization - Correction of Prior Period (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Operating cost and expense | ||||
Gain on disposal of property, plant and equipment | $ 0 | $ (3) | $ 0 | $ (23) |
Total operating expense | 6,162 | 4,852 | 11,954 | 9,348 |
Income (loss) from operations | (6,162) | (4,852) | (11,954) | (9,348) |
Other income and expense | ||||
Gain on disposal of property, plant and equipment | 0 | (3) | 0 | (23) |
Total other income (expense), net | $ 15 | 93 | $ 55 | (17) |
Revision of Prior Period, Adjustment [Member] | ||||
Operating cost and expense | ||||
Gain on disposal of property, plant and equipment | (3) | (23) | ||
Total operating expense | (3) | (23) | ||
Income (loss) from operations | 3 | 23 | ||
Other income and expense | ||||
Gain on disposal of property, plant and equipment | (3) | (23) | ||
Total other income (expense), net | (3) | (23) | ||
As Corrected [Member] | ||||
Operating cost and expense | ||||
Gain on disposal of property, plant and equipment | (3) | (23) | ||
Total operating expense | 4,852 | 9,348 | ||
Income (loss) from operations | (4,852) | (9,348) | ||
Other income and expense | ||||
Gain on disposal of property, plant and equipment | (3) | (23) | ||
Total other income (expense), net | 93 | (17) | ||
Previously Reported [Member] | ||||
Operating cost and expense | ||||
Gain on disposal of property, plant and equipment | 3 | 23 | ||
Total operating expense | 4,855 | 9,371 | ||
Income (loss) from operations | (4,855) | (9,371) | ||
Other income and expense | ||||
Gain on disposal of property, plant and equipment | 3 | 23 | ||
Total other income (expense), net | $ 96 | $ 6 |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 15 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Dec. 31, 2023 | |
Accounts Receivable, after Allowance for Credit Loss, Current | $ 0 | $ 0 | $ 0 | $ 67 | |
Trade Accounts Receivable [Member] | |||||
Accounts Receivable, after Allowance for Credit Loss, Current | 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, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | ||
Total potential dilutive securities (in shares) | [1] | 20,041,269 | 6,605,262 | 14,434,743 | 6,481,403 |
Restricted Stock Units (RSUs) [Member] | |||||
Total potential dilutive securities (in shares) | 8,443,517 | 6,181,141 | 8,350,321 | 5,770,715 | |
Share-Based Payment Arrangement, Option [Member] | |||||
Total potential dilutive securities (in shares) | 0 | 417,749 | 0 | 704,316 | |
Warrant [Member] | |||||
Total potential dilutive securities (in shares) | 11,597,752 | 6,372 | 6,084,422 | 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, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Percentage of Revenue From Products Transferred at Point in Time | 100% | 100% | 100% | 100% |
Note 4 - Note Receivable (Detai
Note 4 - Note Receivable (Details Textual) - LiNiCo [Member] - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Jun. 30, 2024 | |
Investment Owned, Balance, Shares (in shares) | 2,000,000 | |
Equity Securities without Readily Determinable Fair Value, Impairment Loss, Annual Amount | $ 1,400,000 | |
Receivable, Investment, Sale | $ 600,000 | $ 400,000 |
Note 5 - Inventory (Details Tex
Note 5 - Inventory (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2024 | Jun. 30, 2023 | |
Inventory Write-down | $ 240,000 | $ 240,000 | $ 0 |
Note 5 - Inventory - Inventory
Note 5 - Inventory - Inventory (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Work in process | $ 157 | $ 135 |
Raw materials | 751 | 794 |
Total inventory | $ 908 | $ 929 |
Note 6 - Property and Equipme_3
Note 6 - Property and Equipment, Net (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Depreciation | $ 235,000 | $ 225,000 | $ 453,000 | $ 337,000 |
Note 6 - Property and Equipme_4
Note 6 - Property and Equipment, Net - Property and Equipment, Net (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Property and equipment, gross | $ 19,091 | $ 11,976 |
Less: accumulated depreciation | (2,082) | (1,629) |
Total property, plant and equipment, net | 17,009 | 10,347 |
Operational Equipment [Member] | ||
Property and equipment, gross | $ 3,581 | 3,581 |
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 | $ 1,144 | 817 |
Computer Equipment [Member] | ||
Property and equipment, net, useful life (Year) | 3 years | |
Property and equipment, gross | $ 111 | 89 |
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 | 1,141 |
Building [Member] | ||
Property and equipment, net, useful life (Year) | 39 years | |
Property and equipment, gross | $ 3,131 | 3,131 |
Construction in Progress [Member] | ||
Property and equipment, gross | $ 9,813 | $ 3,047 |
Note 7 - Other Assets - Other A
Note 7 - Other Assets - Other Assets (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 | |
Equipment deposits (1) | [1] | $ 6,466 | $ 4,291 |
Nevada facilities Right of Use Assets (2) | [2] | 657 | 222 |
Other assets | 20 | 160 | |
Total other assets, non-current | $ 7,143 | $ 4,673 | |
[1]Deposits for equipment to be acquired and utilized at the Company's Phase One build-out of our recycling campus at Tahoe-Reno Industrial Center (TRIC).[2]See Footnote 9. |
Note 8 - Accrued Expenses - Acc
Note 8 - Accrued Expenses - Accrued Expenses (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Property, plant and equipment related | $ 1,207 | $ 1,857 |
Payroll related | 1,527 | 506 |
Professional services | 105 | 26 |
Other | 69 | 78 |
Total accrued expenses | $ 2,908 | $ 2,467 |
Note 9 - Leases (Details Textua
Note 9 - Leases (Details Textual) - USD ($) | 6 Months Ended | |||
Jun. 09, 2024 | Mar. 14, 2024 | Jun. 30, 2024 | Jun. 30, 2023 | |
Operating Lease, Right-of-Use Asset, Increase/Decrease | $ 517,000 | |||
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 | |||
Headquarters Lease [Member] | ||||
Incremental Borrowing Rate | 9.61% | |||
Operating Lease, Right-of-Use Asset, Increase/Decrease | $ 170,000 | |||
Increase (Decrease) in Operating Lease Liability | $ 166,000 | |||
Innovation Center [Member] | ||||
Incremental Borrowing Rate | 9.52% | |||
Operating Lease, Right-of-Use Asset, Increase/Decrease | $ 347,000 | |||
Increase (Decrease) in Operating Lease Liability | $ 324,000 |
Note 9 - Leases - Right-of-Use
Note 9 - Leases - Right-of-Use Assets and Related Lease Liabilities (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Cash paid for operating lease liabilities | $ 68 | $ 66 | $ 136 | $ 133 |
Operating lease cost | 71 | 65 | 137 | 131 |
Cash paid for finance lease liabilities | 25 | 15 | 39 | 17 |
Interest expense | $ 3 | $ 2 | $ 4 | $ 2 |
Weighted-average remaining lease term (years) - operating leases (Year) | 2 years 7 months 6 days | 1 year 4 months 24 days | 2 years 7 months 6 days | 1 year 4 months 24 days |
Weighted-average discount rate - operating leases | 10.48% | 6.16% | 10.48% | 6.16% |
Weighted-average remaining lease term (years) - finance leases (Year) | 2 years 6 months | 9 months 18 days | 2 years 6 months | 9 months 18 days |
Weighted-average discount rate - finance leases | 5.12% | 7.48% | 5.12% | 7.48% |
Operating Lease, Right-of-Use Asset, Increase/Decrease | $ 517 |
Note 9 - Leases - Maturities of
Note 9 - Leases - Maturities of Lease Liabilities (Details) $ in Thousands | Jun. 30, 2024 USD ($) |
2024, operating lease | $ 140 |
2024, finance lease | 42 |
2025, operating lease | 291 |
2025, finance lease | 47 |
2026, operating lease | 182 |
2026, finance lease | 47 |
2027, operating lease | 149 |
2027, finance lease | 107 |
Less imputed interest, operating lease | (99) |
Less imputed interest, finance lease | (23) |
Total lease liabilities, operating lease | 661 |
Finance Lease, Liability | 220 |
Current lease liabilities, operating lease | 231 |
Current lease liabilities, finance lease | 57 |
Non-current lease liabilities, operating lease | 430 |
Non-current lease liabilities, finance lease | $ 163 |
Note 10 - Note Payable (Details
Note 10 - Note Payable (Details Textual) - Loan Agreement [Member] - Summit Investment Services, LLC [Member] - Aqua Metals Reno, Inc [Member] | Feb. 01, 2023 USD ($) |
Debt Instrument, Face Amount | $ 3,000,000 |
Debt Instrument, Interest Rate, Stated Percentage | 9.50% |
Debt Instrument Term, Interest Only Payments (Year) | 24 years |
Debt Instrument, Guaranteed Minimum Interest | $ 213,750 |
Note 10 - Note Payable - Schedu
Note 10 - Note Payable - Schedule of Notes Payable (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Note payable, current portion | $ 2,979 | $ 35 |
Less issuance costs | (21) | 0 |
Note payable, noncurrent | 0 | 2,923 |
Less issuance costs | 0 | (77) |
Summit Investment Services, LLC [Member] | ||
Note payable, current portion | 3,000 | 35 |
Note payable, noncurrent | $ 0 | $ 3,000 |
Note 11 - Stockholders' Equit_2
Note 11 - Stockholders' Equity (Details Textual) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
May 01, 2024 USD ($) $ / shares shares | Jun. 30, 2024 USD ($) shares | Mar. 31, 2024 USD ($) shares | Jun. 30, 2024 USD ($) shares | Jun. 30, 2023 USD ($) | Dec. 31, 2019 shares | Dec. 31, 2023 shares | |
Share-Based Payment Arrangement, Shares Withheld for Tax Withholding Obligation (in shares) | 456,646 | ||||||
Share-Based Payment Arrangement, Decrease for Tax Withholding Obligation | $ | $ 360,000 | ||||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans (in shares) | 68,882 | ||||||
Proceeds from Issuance of Common Stock | $ | $ 2,542,000 | $ 2,784,000 | |||||
Proceeds from Issuance Or Sale Of Equity, Net | $ | $ 7,306,000 | $ 0 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 1,797,839 | 1,797,839 | 1,420,454 | ||||
The 2014 Stock Incentive Plan [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 635,215 | ||||||
The 2019 Stock Incentive Plan [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 1,162,624 | 1,162,624 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 18,500,000 | ||||||
The 2019 Stock Incentive Plan [Member] | Maximum [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year) | 10 years | ||||||
May 2024 Public Offering Warrants [Member] | |||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 0.01 | ||||||
Warrants and Rights Outstanding | $ | $ 3,100,000 | ||||||
May 2024 Warrants [Member] | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 0.39 | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 20,125,000 | ||||||
Proceeds from Issuance of Warrants | $ | $ 3,000,000 | ||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | ||||||
May 2024 Warrants [Member] | Underwriter [Member] | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 0.4875 | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 782,500 | ||||||
Sale of Stock, Warrants, Commission Percent | 2% | ||||||
Proceeds from Issuance of Warrants | $ | $ 100,000 | ||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | ||||||
ATM [Member] | |||||||
Stock Issued During Period, Shares, New Issues (in shares) | 5,039,383 | ||||||
Proceeds from Issuance of Common Stock | $ | $ 2,500,000 | ||||||
May 2024 Public Offering [Member] | |||||||
Stock Issued During Period, Shares, New Issues (in shares) | 20,125,000 | ||||||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 0.39 | ||||||
Proceeds from Issuance or Sale of Equity | $ | $ 7,300,000 | ||||||
Proceeds from Issuance Or Sale Of Equity, Net | $ | $ 4,200,000 | ||||||
Restricted Stock Units (RSUs) [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 125,000 | 111,522 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Fair Value | $ | $ 40,000 | $ 60,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period, Number of Installments | 3 | 3 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 3 years | 3 years | |||||
Management and Employees [Member] | |||||||
Stock Issued During Period, Shares, Restricted Stock Award, Gross (in shares) | 1,064,286 | ||||||
Management and Employees [Member] | Reissued Treasury Stock [Member] | |||||||
Stock Issued During Period, Shares, Restricted Stock Award, Gross (in shares) | 428,566 | ||||||
Board Members [Member] | |||||||
Stock Issued During Period, Shares, Restricted Stock Award, Gross (in shares) | 79,547 |
Note 11 - Stockholders' Equit_3
Note 11 - Stockholders' Equity - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Stock-based compensation expense | $ 751 | $ 599 | $ 1,525 | $ 1,286 |
Cost of Sales [Member] | ||||
Stock-based compensation expense | 99 | 18 | 185 | 47 |
Research and Development Expense [Member] | ||||
Stock-based compensation expense | 16 | 22 | 36 | 40 |
General and Administrative Expense [Member] | ||||
Stock-based compensation expense | $ 636 | $ 559 | $ 1,304 | $ 1,199 |
Note 11 - Stockholders' Equit_4
Note 11 - Stockholders' Equity - Stock-based Compensation Plan Activity (Details) | 6 Months Ended |
Jun. 30, 2024 shares | |
Number of shares available for grant (in shares) | 1,420,454 |
Balances, RSUs (in shares) | 8,654,491 |
Granted, available for grant (in shares) | (236,522) |
Granted, RSUs (in shares) | 236,522 |
Exercised/ Released, RSUs (in shares) | (1,143,833) |
Forfeited, available for grant (in shares) | 157,261 |
Forfeited, RSUs (in shares) | (157,261) |
Returned to Plan, available for grant (in shares) | 456,646 |
Returned to Plan, RSUs (in shares) | 0 |
Number of shares available for grant (in shares) | 1,797,839 |
Balances, RSUs (in shares) | 7,589,919 |