Company: BCHT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001477932-25-005905
Chunk: 135

Company: Birchtech Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 135
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5  2024  2025  2024   (In thousands)  (In thousands)              Interest expense on notes payable $-  $-  $-  $4 Amortization of discount of notes payable  -   -   -   242 Other interest  -   6   -   6                    $-  $6  $-  $252 

Loss on change in fair value of profit share liability and unsecured note was approximately $376,000 and $2,689,000 for the three months ended June 30, 2025 and 2024, respectively, and $729,000 and $2,955,000 for the six months ended June 30, 2025 and 2024, respectively. The change is primarily attributed to the modification of the terms of the profit share liability (see Note 7 to the unaudited condensed consolidated financial statements).

Net Loss

Net loss decreased significantly in 2025 compared to 2024. For the three months ended June 30, 2025, we had a net loss of approximately $1,542,000 compared to a net loss of approximately $6,147,000 for the three months ended June 30, 2024. For the six months ended June 30, 2025, we had a net loss of approximately $3,221,000 compared to a net loss of approximately $9,002,000 for the six months ended June 30, 2024. Such change was primarily due an increase in license fee revenues in 2025 compared to 2024, and a decrease in SG&A.

 31Table of Content

Liquidity and Capital Resource 

We had approximately $1,454,000 in cash on our balance sheet at June 30, 2025 compared to approximately $3,456,000 at December 31, 2024. Total current assets were approximately $4,572,000 and total current liabilities were approximately $10,284,000 at June 30, 2025, resulting in a working capital deficiency of approximately $5,712,000.  This compares to total current assets of approximately $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.