Company: VGASW
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001628280-25-040155
Chunk: 50

Company: Verde Clean Fuels, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 50
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 and development expenses decreased $27,778, or 16%, for the three months ended June 30, 2025 as compared to the same period in 2024. The decrease was primarily due to classification of a portion of the engineers' and consultants' time associated with the Permian Basin Project to construction in progress in 2025, offset by higher software costs.

Other Income

Other income increased $349,155, or 110%, for the three months ended June 30, 2025 as compared to the same period in 2024. The increase was primarily due to higher interest and dividend income earned on our cash and cash equivalents, which increased due to the net proceeds received from the closing of the PIPE Investment in January 2025.

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Comparison of the six months ended June 30, 2025 and June 30, 2024

Six Months EndedJune 30,20252024General and administrative expenses$6,091,842 $5,778,150 Research and development expenses328,548258,855Total operating loss6,420,390 6,037,005 Other (income)(1,195,606)(662,336)Loss before income taxes(5,224,784)(5,374,669)Income tax expense (benefit)24,800 (13,866)Net loss$(5,249,584)$(5,360,803)

General and Administrative

General and administrative expenses increased $313,692, or 5%, for the six months ended June 30, 2025 as compared to the same period in 2024. The increase was primarily due to additional headcount resulting in higher compensation expense, which was largely offset by a reduction in outside services and insurance expense. 

Of our general and administrative expenses for the six months ended June 30, 2025 and 2024, $73,118 and $307,454, respectively, were business development costs. The decrease was primarily due to development costs associated with the Permian Basin Project incurred in the comparative period prior to our entry into the JDA. 

Research and Development

Research and development expenses increased $69,693, or 27%, for the six months ended June 30, 2025 as compared to the same period in 2024. The increase was primarily due to higher software costs, offset by classification of a portion of the engineers' and consultants' time associated with the Permian Basin Project to construction in progress in