Company: BCHT
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001477932-25-003808
Chunk: 127

Company: Birchtech Corp.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 127
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 $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 the Company’s anticipated needs for the twelve months following the date of issuance of the financial statements for the three months ended March 31, 2025, included elsewhere in this Form 10-Q, which raises substantial doubt about the Company’s ability to continue as a going concern within one year from the issuance date of the financial statements. 

In addition to maintaining the revenue stream from our legacy mercury emissions control business, our plans and expectations over the next twelve months to mitigate such financial condition include receiving additional cash inflows from the judgment expected in connection with the $57.1 million jury verdict awarded to us in March 2024, additional licensing revenues and product sales from the other patent litigation recently commenced, and revenues from our entry into the water treatment business. During 2024, we opened two new state of the art laboratories and have added personnel to support our entry into the water business which we believe will lead 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.