American Battery Technology Co. Files Annual Report

Ticker: ABAT · Form: 10-K · Filed: Sep 23, 2024 · CIK: 1576873

Sentiment: neutral

Topics: annual-report, sec-filing, battery-technology

TL;DR

ABAT filed its 10-K for FY24. Stock trades on Nasdaq.

AI Summary

American Battery Technology Company (ABAT) filed its annual report for the fiscal year ended June 30, 2024. The company is incorporated in Nevada and its principal executive offices are located in Reno, NV. Its common stock is traded on The Nasdaq Stock Market LLC under the symbol ABAT.

Why It Matters

This filing provides a comprehensive overview of American Battery Technology Company's financial performance and operational status for the past fiscal year, crucial for investors assessing the company's trajectory.

Risk Assessment

Risk Level: low — This is a standard annual report filing and does not inherently present new risks.

Key Players & Entities

FAQ

What is the company's primary business activity?

The filing does not explicitly detail the primary business activity but identifies the company as American Battery Technology Company, suggesting a focus on battery technology.

Where is American Battery Technology Company incorporated?

American Battery Technology Company is incorporated in Nevada.

On which exchange is ABAT traded?

ABAT is traded on The Nasdaq Stock Market LLC.

What is the par value of the company's common stock?

The par value of the company's common stock is $0.001.

What is the Commission File Number for this filing?

The Commission File Number for this filing is 000-55088.

Filing Stats: 4,306 words · 17 min read · ~14 pages · Grade level 16.3 · Accepted 2024-09-23 16:30:42

Key Financial Figures

Filing Documents

forward-looking statements

forward-looking statements. Forward-looking with our customers; consumer demand; financial resources and condition; changes in revenues; changes in profitability; changes in accounting treatment; cost of sales; selling, general and administrative expenses; interest expense; the ability to produce the liquidity or enter into agreements to acquire the capital necessary to continue our operations and take advantage of opportunities; legal proceedings and claims. Forward-looking experience and our perception of historical trends, current conditions, expected future developments, and other factors that we believe are appropriate under the circumstances. We caution you that forward-looking statements are not guarantees of future performance and these statements are subject to known and unknown risks and uncertainties, which may cause our actual results or performance to be materially different from any future results or performance expressed or implied by the forward-looking statements. Factors that may cause our financial condition, results of operations, business prospects or economic performance to differ from expectations include the factors discussed in Part I, Item 1A, Risk Factors below and elsewhere in this Report. Also, forward-looking statements represent our estimates and assumptions only as of the date of this Report. You should read this Report and the documents that we reference and file as exhibits to this Report completely and with the understanding that our actual future results may be materially different from what we expect. The forward-looking statements in this report speak only as of the filing of this Report. Except as required by applicable securities laws, we assume no obligati

Business

Business 4 Item 1A. Risk Factors 9 Item 1B. Unresolved Staff Comments 18 Item 1C. Cybersecurity 18 Item 2.

Properties

Properties 18 Item 3. Legal Proceedings 24 Item 4 Mine Safety Disclosures 24 PART II Item 5. Market for Registrant's Common Equity and Related Stockholder Matters and Issuer Purchases of Equity Securities 25 Item 6. [Reserved.] 25 Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 25 Item 7A. Quantitative and Qualitative Disclosures about Market Risk 32 Item 8. Financial 33 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 34 Item 9A Controls and Procedures 34 Item 9B. Other Information 35 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 35 PART III Item 10. Directors, Executive Officers and Corporate Governance 35 Item 11. Executive Compensation 35 Item 12. Security 35 Item 13. Certain Relationships and Related Transactions, and Director Independence 35 Item 14. Principal Accounting Fees and Services 35 PART IV Item 15. Exhibits and Financial Statement Schedules 36 Item 16. Form 10-K Summary 36

Signatures

Signatures 37 3 PART I Item 1. Business Introduction American Battery Technology Company (the "Company", "we" and "us") is a technology development and commercialization company in the battery materials sector of the lithium-ion battery industry. The Company is working to increase the domestic US production of critical battery metals. To do so, we are engaged in (i) the exploration of new primary resources of battery metals, (ii) the development and commercialization of new technologies for the extraction and refining of these battery metals from primary resources, and (iii) the commercialization of an internally developed integrated process for the recycling of lithium-ion batteries for the recovery of battery materials. Through this three-pronged approach we are working to both increase the domestic production of these battery materials through the acquisition and exploration of mining claims and to ensure that these constituent elemental metals are returned to the domestic manufacturing supply chain in a closed-loop fashion. In addition, we are committed to operating our business in a safe and environmentally responsible manner by working with our employees, customers, vendors, and local communities to minimize our environmental impact and comply with local, state and federal environmental laws and regulations. The Company's corporate headquarters are in Reno, Nevada, and its mineral exploration office is located in Tonopah, Nevada. The Company is commissioning its novel recycling plant for recycling lithium-ion batteries in McCarran, Nevada. Company History The Company was incorporated as Oroplata Resources, Inc. under the laws of the State of Nevada on October 6, 2011, for the purpose of acquiring rights to mineral properties with the eventual objective of being a producing mineral company. On August 8, 2016, the Company formed Lithortech Resources Inc. as a wholly owned subsidiary of the Company to serve as its operating subsidiary for lithium

Business

Business Lithium-Ion Battery Recycling The Company has developed a universal lithium-ion battery recycling system that is capable of recycling batteries with both a wide range of form factors (packs, modules, cylindrical cells, prismatic cells, pouch cells, defect and intermediate waste cells, metal scraps, slurries, and powders) and of a wide range of cathode chemistries (lithiated cobalt oxide, lithiated nickel-cobalt-aluminum oxide, lithiated nickel-cobalt-manganese oxide, lithiated nickel-cobalt-manganese-aluminum oxide, lithiated nickel-oxide, and lithiated manganese-oxide) of various relative weighting of transition metals. The Company's recycling system is a two-phase process: an automated de-manufacturing process followed by a targeted chemical extraction train to separate the individual high-value metals. The Company intends to commission each phase in sequence. Phase 1, the automated de-manufacturing process, separates the components of battery feedstock material into its constituent components, including scrap metals and cathode and anode powders in the form of black mass filter cake. Scrap metals are then sold as byproducts under various offtake agreements or into the open scrap market. The black mass filter cake produced in this phase will also be sold under offtake contracts or into the open market. Upon commissioning of Phase 2, the black mass produced in Phase 1 will be fed into a proprietary chemical extraction train to extract lithium, nickel, cobalt, and manganese elemental metals and upgrade them to the battery cathode grade specifications demanded by high energy density cathode manufacturers. The commissioning of Phase 1 occurred in the fourth quarter of fiscal year 2024 and the commissioning of Phase 2 is expected to occur in fiscal year 2025. The Company has acquired and leveraged the experience of several members of its leadership and implementation teams who worked on the design, construction, commissioning, and optimization of one o

View Full Filing

View this 10-K filing on SEC EDGAR

View on Read The Filing