Company: BCHT
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001477932-25-003808
Chunk: 45

Company: Birchtech Corp.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 45
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 31, 2025 and 2024, respectively. The approximate breakdown of interest expense for the three months ended March 31, 2025 and 2024 is as follows:

  Three Months Ended   March 31,   2025  2024        Interest expense on notes payable $-  $4,000 Amortization of discount of notes payable  -   242,000            $-  $246,000 

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Loss on change in fair value of profit share liability were approximately $353,000 and $265,000 for the three months ended March 31, 2025 and 2024, respectively.  The change is primarily attributed to the modification of the terms of the profit share liability (see Note 7 to the consolidated financial statements). 

Net Loss

For the three months ended March 31, 2025 we had a net loss of approximately $1,679,000 compared to net loss of approximately $2,855,000 for the three months ended March 31, 2024. Such change was primarily due an increase in gross profit in 2025 compared to 2024, and a decrease in SG&A. 

Liquidity and Capital Resource 

We had approximately $3,188,000 in cash on our balance sheet at March 31, 2025 compared to approximately $3,456,000 at December 31, 2024. Total current assets were approximately $5,198,000 and total current liabilities were approximately $9,477,000 at March 31, 2025, resulting in a working capital deficiency of approximately $4,279,000.  This compares to total current assets of approximately $6,099,000 and total current liabilities of approximately $8,806,000 at December 31, 2024, resulting in a working capital deficiency of approximately $2,707,000. Our accumulated deficit was approximately $74.4 million at March 31, 2025 compared to $72.8 million at December 31, 2024. Additionally, we had a net loss in the amount of approximately $1,679,000 and cash used in operating activities of approximately $254,000 for the three months ended March 31, 2025.

Based on the Company’s current cash levels and burn rate, discussed above, the Company believes its cash and financial resources may be insufficient to meet