Company: VGASW
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001628280-25-025504
Chunk: 14

Company: Verde Clean Fuels, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 14
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12,839 32,027 Net cash used in operating activities(3,701,761)(2,829,250)Cash flows from investing activities:Purchases of property, plant and equipment(473,385)(8,323)Reimbursement of capital expenditures461,439 - Net cash used in investing activities(11,946)(8,323)Cash flows from financing activities:Issuance of Class A common stock to Cottonmouth50,000,000 - Payment of equity issuance costs(50,000)- Net cash provided by financing activities49,950,000 - Net change in cash, cash equivalents and restricted cash46,236,293 (2,837,573)Cash, cash equivalents and restricted cash, beginning of year19,144,067 28,879,177 Cash, cash equivalents and restricted cash, end of period$65,380,360 $26,041,604 Supplemental cash flows:Capital expenditures in accounts payable and accrued liabilities (at period end)$900,833 $— Accounts receivable for reimbursement of capital expenditures (at period end)$639,319 $— Equity issuance costs in accounts payable and accrued liabilities (at period end)$559,880 $— 

The accompanying notes are an integral part of these unaudited consolidated financial statements.

4

VERDE CLEAN FUELS, INC.

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

NOTE 1 – THE COMPANY

OverviewVerde Clean Fuels, Inc. (the “Company”, “Verde” and “Verde Clean Fuels”) is a clean fuels company focused on the deployment of its innovative and proprietary liquid fuels processing technology through development of commercial production plants. Verde's synthesis gas ("syngas")-to-gasoline plus (STG+®) process converts syngas, derived from diverse feedstocks, into fully finished liquid fuels that require no additional refining. Verde is currently focused on opportunities to convert associated natural gas into gasoline, which is expected to provide a market for such natural gas with the added potential benefits of flare mitigation and production of gasoline with a lower carbon intensity than conventional gasoline.The Company is a Delaware corporation headquartered in Houston, Texas. The Company also has a demonstration plant and office in Hillsborough, New Jersey. The Company’s shares of Class A common stock, par value $0.0001 per share (the “Class A common stock”), and warrants