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

Company: Verde Clean Fuels, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 14
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The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

VERDE CLEAN FUELS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

(Unaudited)

Condensed Consolidated Statement of Stockholders’ Equity for the Nine Months Ended September 30, 2024 

(in thousands, except share and per share amounts)Class A CommonClass C CommonAdditional  Paid InCapitalAccumulated DeficitNon controlling InterestSharesValuesSharesValuesTotal Stockholders’ EquityBalance – December 31, 20239,387,836$1 22,500,000$2 $35,015 $(23,923)$17,730 $28,825 Related party promissory note settlement40,961- -- 410 - - 410 Conversion of restricted stock units120,824- -- - - - - Share-based compensation-- -- 912 - - 912 Rebalancing of ownership percentage for issuance of Class A shares-- -- 115 - (115)- Net loss-- -- - (2,454)(5,400)(7,854)Balance – September 30, 20249,549,621$1 22,500,000$2 $36,452 $(26,377)$12,215 $22,293 

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

4

VERDE CLEAN FUELS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

Nine Months EndedSeptember 30,(in thousands)20252024Cash flows from operating activities:Net loss$(7,584)$(7,854)Adjustments to reconcile net loss to net cash used in operating activitiesDepreciation12 10 Share-based compensation expense1,543 912 Amortization of right-of-use assets261 227 Changes in operating assets and liabilitiesPrepaid expenses165 (387)Accounts payable(460)707 Accrued liabilities(1,260)(56)Operating lease liabilities(260)(214)Other changes in operating assets and liabilities20 - Net cash used in operating activities(7,563)(6,655)Cash flows from investing activities:Additions to property, plant and equipment(4,458)(1,