Company: BCHT
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001477932-25-002237
Chunk: 1053

Company: Birchtech Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 5
Chunk 1053
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FOR THE YEAR ENDED DECEMBER 31, 2023   As previously reported  Adjustment   As restated Cash flows from operating activities         Net income (loss) $5,904,013  $(235,699 ) $5,668,314              Adjustments to reconcile net loss to net cash             Non-cash interest income  -   (79,301 )  (79,301 )Changes in operating assets and liabilities            Accounts receivable  544,396   315,000   859,396 Net cash provided by operating activities $19,226,037  $-  $19,226,037 

Note 3 – Going Concern and Financial Condition  Under ASC 205-40, Presentation of Financial Statements—Going Concern, the Company has the responsibility to evaluate whether conditions and/or events raise substantial doubt about its ability to meet its future financial obligations as they become due within one year after the date that the financial statements are issued. As required by ASC 205-40, this evaluation shall initially not take into consideration the potential mitigating effects of plans that have not been fully implemented as of the date the financial statements are issued. Management has assessed the Company’s ability to continue as a going concern in accordance with the requirements of ASC 205-40. The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business.  As reflected in the consolidated financial statements, the Company had a net loss of approximately $10.8 million and cash used in operating activities of approximately $4.1 million for the year ended December 31, 2024; had cash of approximately $3.5 million at December 31, 2024; and an accumulated deficit of approximately $72.8 million at December 31, 2024.  The Company’s working capital deficiency at December 31, 2024 was approximately $2.7 million.  The aforementioned factors raise 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 its revenue stream from its legacy mercury emissions control business, the Company’s 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