Company: VGASW
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001628280-25-025504
Chunk: 11

Company: Verde Clean Fuels, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 11
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Item 1. Financial Statements

VERDE CLEAN FUELS, INC.

CONSOLIDATED BALANCE SHEETS

(Unaudited)

As of March 31,2025December 31,2024ASSETSCurrent assets:Cash and cash equivalents$65,280,360 $19,044,067 Restricted cash100,000 100,000 Accounts receivable – other629,319 226,157 Prepaid expenses and other current assets1,162,903 804,186 Total current assets67,172,582 20,174,410 Non-current assets:Property, plant and equipment, net1,592,001 1,096,270 Intellectual property and patented technology1,925,151 1,925,151 Operating lease right-of-use assets, net438,795 215,806 Deposits160,669 160,669 Total non-current assets4,116,616 3,397,896 Total assets$71,289,198 $23,572,306 LIABILITIES AND STOCKHOLDERS’ EQUITYCurrent liabilities:Accounts payable$2,156,543 $734,374 Accrued liabilities910,136 1,907,165 Operating lease liabilities372,291 153,917 Other current liabilities17,968 15,129 Total current liabilities3,456,938 2,810,585 Non-current liabilities:Operating lease liabilities89,357 78,245 Total non-current liabilities89,357 78,245 Total liabilities3,546,295 2,888,830 Commitments and Contingencies (see Note 7)Stockholders’ equityClass A common stock, par value $0.0001 per share, 22,049,621 and 9,549,621 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively2,205 955 Class C common stock, par value $0.0001 per share, 22,500,000 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively2,250 2,250 Additional paid in capital62,246,109 37,502,903 Accumulated deficit(28,503,797)(27,257,086)Noncontrolling interest33,996,136 10,