AquaBounty Technologies Files Q3 2024 10-Q

TL;DR

AquaBounty dropped its Q3 10-Q. Check financials.

AI Summary

AquaBounty Technologies Inc. filed its Q3 2024 10-Q report on November 5, 2024, covering the period ending September 30, 2024. The company, incorporated in Delaware, operates in the fishing and hunting sector. Key financial details and operational updates for the third quarter of 2024 are detailed within this report.

Why It Matters

This filing provides investors and stakeholders with the latest financial performance and operational status of AquaBounty Technologies, crucial for understanding the company's trajectory in the aquaculture industry.

Risk Assessment

Risk Level: medium — As a company in a developing industry with significant capital requirements, its financial performance and market acceptance present inherent risks.

Key Numbers

• Q3 2024 — Quarterly Period (The report covers the third quarter of 2024.)
• 1231 — Fiscal Year End (The company's fiscal year ends on December 31st.)

Key Players & Entities

• AQUABOUNTY TECHNOLOGIES INC (company) — Filer
• 20240930 (date) — Period of Report
• 20241105 (date) — Filing Date
• 001-36426 (company) — SEC File Number
• 978-648-6000 (dollar_amount) — Business Phone

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share AQB The NASDAQ Stock Mark

Filing Documents

• aqb-20240930x10q.htm (10-Q) — 2567KB
• aqb-20240930xex31_1.htm (EX-31.1) — 14KB
• aqb-20240930xex31_2.htm (EX-31.2) — 14KB
• aqb-20240930xex32_1.htm (EX-32.1) — 11KB
• 0001603978-24-000072.txt ( ) — 9812KB
• aqb-20240930.xsd (EX-101.SCH) — 38KB
• aqb-20240930_cal.xml (EX-101.CAL) — 49KB
• aqb-20240930_def.xml (EX-101.DEF) — 146KB
• aqb-20240930_lab.xml (EX-101.LAB) — 430KB
• aqb-20240930_pre.xml (EX-101.PRE) — 315KB
• aqb-20240930x10q_htm.xml (XML) — 2294KB

Financial Statements

Financial Statements 1 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 13 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 19 Item 4.

Controls and Procedures

Controls and Procedures 19 PART II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 19 Item 1A.

Risk Factors

Risk Factors 19 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 20 Item 3. Defaults Upon Senior Securities 20 Item 4. Mine Safety Disclosures 20 Item 5. Other Information 20 Item 6. Exhibits 21

Signatures

Signatures 22 Table of Contents Cautionary Note Regarding Forward-Looking Statements This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. All statements other than present and historical facts and conditions contained in the Quarterly Report on Form 10-Q are forward-looking statements, including statements regarding our future results of operations and financial position, business strategy, plans, and our objectives for future operations. We sometimes use the words "anticipate," "believe," "can," "could," "estimate," "expect," "intend," "is designed to," "may," "might," "plan," "potential," "predict," "objective," "should," or the negative of these and similar expressions to identify forward-looking statements. We have based these forward-looking statements on our current expectations, assumptions, estimates, and projections. While we believe these expectations, assumptions, estimates, and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks, uncertainties, and other factors, many of which are outside of our control, which could cause our actual results, performance, or achievements to differ materially from any results, performance, or achievements expressed or implied by such forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are: our history of net losses and the likelihood of future net losses; our ability to continue as a going concern; our ability to raise substantial additional capital on acceptable terms, or at all, which is required to implement our business strategy as planned, or at all; our ability to raise additional funds in sufficient amounts on a timely basis, on acceptable terms, or at all, including our ability to sell our Rollo Bay farm and additional equipme

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements AquaBounty Technologies, Inc. Condensed Consolidated Balance Sheets (Unaudited) As of September 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 500,434 $ 8,203,869 Inventory 466,270 1,733,603 Assets held for sale 35,286,854 — Prepaid expenses and other current assets 1,089,013 1,700,273 Total current assets 37,342,571 11,637,745 Property, plant and equipment, net 80,188,450 174,381,382 Right of use assets, net 58,291 281,104 Intangible assets, net 194,158 204,436 Restricted cash — 1,000,000 Other assets 1,894 46,761 Total assets $ 117,785,364 $ 187,551,428 Liabilities and stockholders' equity Current liabilities: Accounts payable and accrued liabilities $ 11,751,477 $ 12,991,819 Accrued employee compensation 223,719 754,621 Current debt 349,312 795,300 Other current liabilities 59,930 30,863 Total current liabilities 12,384,438 14,572,603 Long-term lease obligations 30,329 250,241 Long-term debt, net 5,298,947 7,711,866 Total liabilities 17,713,714 22,534,710 Commitments and contingencies Stockholders' equity: Common stock, $ 0.001 par value, 75,000,000 shares authorized; 3,865,778 and 3,847,022 shares outstanding at September 30, 2024 and December 31, 2023, respectively 3,866 3,847 Additional paid-in capital 386,237,887 385,998,213 Accumulated other comprehensive loss ( 513,405 ) ( 405,464 ) Accumulated deficit ( 285,656,698 ) ( 220,579,878 ) Total stockholders' equity 100,071,650 165,016,718 Total liabilities and stockholders' equity $ 117,785,364 $ 187,551,428 See accompanying notes to these condensed consolidated financial statements. 1 Table of Contents AquaBounty Technologies, Inc. Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) Three Months Ended September 30,

View Full Filing

View this 10-Q filing on SEC EDGAR