Company: VGASW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001628280-25-015480
Chunk: 114

Company: Verde Clean Fuels, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 8
Chunk 114
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 presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ Deloitte & Touche LLP

Dallas, Texas  

March 28, 2025

We have served as the Company's auditor since 2022.

F-1

Table of Contents

VERDE CLEAN FUELS, INC.

CONSOLIDATED BALANCE SHEETS

As ofDecember 31,2024December 31,2023ASSETSCurrent assets:Cash and cash equivalents$19,044,067 $28,779,177 Restricted cash100,000 100,000 Accounts receivable – other226,157 - Other current assets804,186 373,324 Total current assets20,174,410 29,252,501 Non-current assets:Property, plant and equipment, net1,096,270 62,505 Intellectual property and patented technology1,925,151 1,925,151 Operating lease right-of-use assets, net215,806 524,813 Deposits160,669 160,669 Total non-current assets3,397,896 2,673,138 Total assets$23,572,306 $31,925,639 LIABILITIES AND STOCKHOLDERS’ EQUITYCurrent liabilities:Accounts payable$734,374 $184,343 Accrued liabilities1,907,165 1,976,812 Operating lease liabilities153,917 297,380 Other current liabilities15,129 - Total current liabilities2,810,585 2,458,535 Non-current liabilities:Promissory note – related party- 409,612 Operating lease liabilities78,245 232,162 Total non-current liabilities78,245 641,774 Total liabilities2,888,830 3,100,309 Commitments and Contingencies (see Note 8)Stockholders’ equityClass A common stock, par value $0.0001 per share, 9,549,621 and 9,387,836 shares issued and outstanding as of December 31, 2024 and 2023, respectively955 939 Class C common stock, par value $0.0001 per share, 22,500,000 shares issued and outstanding as of December 31, 2024 and 2023, respectively2,250 2,250 Additional paid in