Company: VGASW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001628280-25-052351
Chunk: 15

Company: Verde Clean Fuels, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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445)Reimbursements of development costs in accordance with the JDA2,971 994 Net cash used in investing activities(1,487)(451)Cash flows from financing activities:Issuance of Class A common stock to Cottonmouth50,000 - Payment of equity issuance costs(554)- Net cash provided by financing activities49,446 - Net change in cash, cash equivalents and restricted cash40,396 (7,106)Cash, cash equivalents and restricted cash, beginning of year19,144 28,879 Cash, cash equivalents and restricted cash, end of period$59,540 $21,773 Supplemental cash flows:Capital expenditures in accounts payable and accrued liabilities (at period end)$1,908 $469 Accounts receivable for reimbursement of capital expenditures (at period end)$1,311 $224 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

5

VERDE CLEAN FUELS, INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(in thousands, except share and per share amounts)

NOTE 1 – NATURE OF BUSINESS AND BASIS OF PRESENTATION

OverviewVerde Clean Fuels, Inc. (the “Company”, “Verde” and “Verde Clean Fuels”) is a clean fuels company focused on the deployment of its innovative and proprietary liquid fuels processing technology through development of commercial production plants. Verde’s synthesis gas (“syngas”)-to-gasoline plus (STG+®) process converts syngas, derived from diverse feedstocks, into fully finished liquid fuels that require no additional refining. Verde is currently focused on opportunities to convert associated natural gas into gasoline, which is expected to provide a market for such natural gas with the added potential benefits of flare mitigation and production of gasoline with a lower carbon intensity than conventional gasoline.The Company is a Delaware corporation headquartered in Houston, Texas. The Company also has a demonstration plant and office in Hillsborough, New Jersey. The Company’s shares of Class A common stock, par value $0.0001 per share (the “Class A common stock”), and warrants that were issued in the public offering are listed on Nasdaq under the symbols “VGAS” and “VGASW,” respectively. The Company’s primary stockholders are Bluescape Clean Fuels Holdings, LLC (“Holdings”) and Cottonmouth Ventures, LLC (“Cottonmouth”). Holdings is