Company: VGASW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001628280-25-015480
Chunk: 117

Company: Verde Clean Fuels, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 8
Chunk 117
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 accrual-- -- 609,563 - - 609,563 Net loss-- -- - (3,334,356)(7,180,678)(10,515,034)Balance – December 31, 20249,549,621$955 22,500,000$2,250 $37,502,903 $(27,257,086)$10,434,454 $20,683,476 

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

F-4

Table of Contents

VERDE CLEAN FUELS, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

Year EndedDecember 31,20242023Cash flows from operating activitiesNet loss$(10,515,034)$(10,501,276)Adjustments to reconcile net loss to net cash used in operating activitiesContingent consideration- (1,299,000)Depreciation13,083 3,497 Share-based compensation expense1,354,005 2,901,569 Finance lease amortization- 127,617 Deferred financing fee write-off- 28,847 Amortization of right-of-use assets309,007 413,354 Changes in operating assets and liabilitiesOther current assets(430,861)(259,648)Accounts payable144,304 (6,645)Accrued liabilities539,916 185,912 Operating lease liabilities(297,380)(383,778)Other changes in operating assets and liabilities2,776 (323,115)Net cash used in operating activities(8,880,184)(9,112,666)Cash flows from investing activitiesPurchases of property, plant and equipment(2,549,747)(58,588)Reimbursement of capital expenditures1,694,821 - Net cash used in investing activities(854,926)(58,588)Cash flows from financing activitiesPIPE proceeds- 32,000,000 Cash received from Trust- 19,031,516 Transaction expenses- (10,043,793)BCF Holdings capital repayment- (3,750,000)Repayments of notes payable - insurance premium financing- (11,166)Repayments of the principal portion of finance lease liabilities- (44,469)Warrant exercises- 335,984 Deferred financing costs- (22,570)Net cash provided by financing activities