Company: VGASW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001628280-25-015480
Chunk: 136

Company: Verde Clean Fuels, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 8
Chunk 136
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31, 2024 is comprised of capitalized FEED costs of $2,937,528 and is net of $1,908,628 of cost reimbursements from Cottonmouth. See Notes 1, 7 and 13 for further information. Depreciation expense was $13,083 and $3,497 for the year ended December 31, 2024 and 2023, respectively. Depreciation expense of $10,277 and $2,806 is included in general and administrative and research and development expense, respectively, for the year ended December 31, 2024. Depreciation expense of $1,662 and $1,835 is included in general and administrative and research and development expense, respectively, for the year ended December 31, 2023.

NOTE 5 — FAIR VALUE MEASUREMENTS

As of December 31, 2024 and 2023, the Company had cash equivalents of $17,559,091 and $26,155,789, respectively, which consisted of funds held in a short-term money market fund and are classified as Level 1 in the fair value hierarchy. See Note 2 for further information.The Company measured the liability for contingent consideration as of December 31, 2022 using Level 3 inputs and valued the contingent consideration at $1,299,000. There was no liability for contingent consideration as of December 31, 2023 as this liability was reversed and recognized in earnings during the year ended December 31, 2023 as a result of the close of the Business Combination.At December 31, 2024 and 2023, there were no other assets or liabilities measured at fair value on a recurring basis, as the Earn Out Equity (as defined below), Public Warrants, and Private Placement Warrants are equity-classified.

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Table of Contents

NOTE 6 — ACCRUED LIABILITIES

Accrued liabilities consist of the following:As ofDecember 31,2024December 31,2023Accrued bonus$331,398 $- Accrued legal fees467,645 237,839 Accrued professional fees68,000 143,900 Accrued excise tax liability978,412 1,587,975 Other accrued expenses61,710 7,098 Total accrued liabilities$1,907,165 $1,976,812 Inflation Reduction Act of 2022