Company: BCHT
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001477932-25-003808
Chunk: 58

Company: Birchtech Corp.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 58
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 commenced trading under the ticker symbol “BCHT”.

On October 9, 2024, we received conditional approval to list our shares of common stock on the Toronto Stock Exchange (“TSX”) and graduate from the TSX Venture Exchange (“TSXV”) to the TSX.  On November 12, 2024, our shares commenced trading on the TSX under the ticker symbol “BCHT”.

Effective as of January 1, 2025, Birchtech Corp. entered into an investor relations consulting agreement with MZHCI, LLC.

On March 19, 2025, we announced that our Board of Directors authorized a share repurchase program under which the Company may purchase up to $5.0 million of its common stock.  Purchases under the share repurchase program may be made from time to time, in such amounts as management deems appropriate, through a variety of methods, which may include open market purchases, privately negotiated transactions, block trades, accelerated share repurchase transactions, purchases through 10b5-1 trading plans, or by any combination of such methods. The timing and amount of any repurchases pursuant to the share repurchase program will be determined based upon a variety of factors, including general market conditions, share price, corporate and regulatory requirements and limitations, corporate liquidity requirements and priorities, and other factors. We anticipate that any repurchases will not occur before the second half of 2025.  The share repurchase program does not have an expiration date, does not require the Company to repurchase any specific number of shares of its common stock, if any, and may be modified, suspended or terminated at any time without notice. During the three months ended March 31, 2025, there were no repurchases made under the program.

Results of Operations 

Revenues

We generated revenues of approximately $3,221,000 and $3,242,000 for the three months ended March 31, 2025 and 2024, respectively. Such revenues were primarily derived from sorbent product sales which were approximately $2,677,000 and $3,084,000 for three months ended March 31, 2025 and 2024, respectively. Revenues can be dependent on natural gas prices, extreme weather, and the maintenance and downtime requirements of customer plants. The decrease in revenues from the prior year was primarily due to the mix of plants running and products sold in the first three months of 2025 resulting in decreased product revenues for