Company: BCHT
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001477932-25-003808
Chunk: 62

Company: Birchtech Corp.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 62
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 to a vibrant new revenue stream. In addition, management is exploring additional financing opportunities.  While management believes these plans will alleviate substantial doubt, there is no assurance that they will be successfully realized or implemented.  

Total Assets

Total assets were approximately $9,302,000 at March 31, 2025 versus approximately $10,261,000 at December 31, 2024. The change in total assets is primarily attributable to an approximate $268,000 decrease in cash and an approximate $545,000 decrease in accounts receivable.

Total Liabilities

Total liabilities were approximately $9,729,000 at March 31, 2025 versus approximately $9,069,000 at December 31, 2024. The increase is primarily attributable to an increase in accounts payable and accrued liabilities and an increase in the fair value of the non-recourse profit share liability.

Operating Activities

Net cash used in operating activities consists of net loss, adjusted by certain non-cash items, and changes in operating assets and liabilities. 

Net cash used in operating activities was approximately $254,000 for the three months ended March 31, 2025 compared to net cash used in operating activities of approximately $439,000 for the three months ended March 31, 2024.  The decrease in net cash provided by operating activities was primarily due to the following: (i) a net loss of $1.7 million for the three months ended March 31, 2025 compared to net loss of $2.9 million for the three months ended March 31, 2024; and (ii) certain other changes in operating assets and liabilities including accounts receivable, inventory, prepaid expenses and other assets, accrued salaries, and accounts payable and accrued liabilities. 

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Investing Activities

The Company had net cash used in investing activities of approximately $14,000 for the three months ended March 31, 2025 for the purchase of lab equipment compared to no cash used in investing activities for the three months ended March 31, 2024.  

Financing Activities

Net cash used in financing activities was approximately $0 for the three months ended March 31, 2025 compared to approximately $9,312,000 used in financing activities for the three months ended March 31, 2024.   During the three months ended March 31, 2024, we repaid the remaining principal of approximately $272,000 on the AC