374Water Inc. Files 10-Q for Q1 2024

TL;DR

<b>374Water Inc. filed its Q1 2024 10-Q report, detailing financial positions and operational updates.</b>

AI Summary

374Water Inc. (SCWO) filed a Quarterly Report (10-Q) with the SEC on May 15, 2024. 374Water Inc. reported its Q1 2024 financial results on May 15, 2024. The company's fiscal year ends on December 31. Total assets were $132,667,107 as of March 31, 2024. Total debt was $132,670,446 as of March 31, 2024. The filing covers the period from January 1, 2024, to March 31, 2024.

Why It Matters

For investors and stakeholders tracking 374Water Inc., this filing contains several important signals. The filing provides a snapshot of the company's financial health at the end of Q1 2024, including asset and debt levels. It outlines key operational activities and agreements during the reporting period, which are crucial for understanding future revenue streams and strategic direction.

Risk Assessment

Risk Level: medium — 374Water Inc. shows moderate risk based on this filing. The company has significant debt ($132,670,446) relative to its total assets ($132,667,107) as of March 31, 2024, indicating a potentially leveraged financial position.

Analyst Insight

Investors should closely monitor the company's debt management strategies and revenue growth in upcoming filings to assess its financial stability.

Financial Highlights

total Assets

132667107

total Debt

132670446

Revenue Breakdown

Key Numbers

• 132667107 — Total Assets (As of March 31, 2024.)
• 132670446 — Total Debt (As of March 31, 2024.)
• 2024-03-31 — End of Reporting Period (Q1 2024.)
• 2024-05-15 — Filing Date (10-Q filing.)

Key Players & Entities

• 374Water Inc. (company) — Filer of the 10-Q report.
• 2024-03-31 (date) — End of the reporting period for the 10-Q.
• 2024-05-15 (date) — Filing date of the 10-Q.
• 132667107 (dollar_amount) — Total assets as of March 31, 2024.
• 132670446 (dollar_amount) — Total debt as of March 31, 2024.

FAQ

Risk Factors

• Debt Levels [medium — financial]: The company's total debt of $132,670,446 as of March 31, 2024, is nearly equal to its total assets of $132,667,107.

Key Dates

• 2024-03-31: End of Q1 2024 Reporting Period — Key date for financial statement reporting.
• 2024-05-15: Filing Date of 10-Q — Indicates when the company submitted its quarterly report.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides a comprehensive overview of a company's financial performance during a specific quarter.)

Key Financial Figures

• $0.0001 — ich registered Common Stock, par value $0.0001 SCWO The Nasdaq Capital Market LLC
• $55,000 — cumulative adjustment of approximately $55,000 in the quarter ended December 31, 2023

Filing Documents

• scwo_10q.htm (10-Q) — 570KB
• scwo_ex311.htm (EX-31.1) — 10KB
• scwo_ex312.htm (EX-31.2) — 10KB
• scwo_ex321.htm (EX-32.1) — 5KB
• scwo_ex322.htm (EX-32.2) — 6KB
• 0001654954-24-006425.txt (&nbsp;) — 3416KB
• scwo-20240331.xsd (EX-101.SCH) — 32KB
• scwo-20240331_lab.xml (EX-101.LAB) — 239KB
• scwo-20240331_cal.xml (EX-101.CAL) — 42KB
• scwo-20240331_pre.xml (EX-101.PRE) — 191KB
• scwo-20240331_def.xml (EX-101.DEF) — 88KB
• scwo_10q_htm.xml (XML) — 431KB

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 21 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 23 Item 4.

Controls and Procedures

Controls and Procedures 23 PART II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 24 Item 1A.

Risk Factors

Risk Factors 24 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 24 Item 3. Defaults upon Senior Securities 24 Item 4. Mine Safety Disclosures 24 Item 5. Other Information 24 Item 6. Exhibits 25

SIGNATURES

SIGNATURES 26 2 Table of Contents Cautionary Note Regarding Forward-Looking Information This Quarterly Report on Form 10-Q (the "Form 10-Q") contains certain statements related to future results of 374 Water, Inc. (the "Company") that are considered "forward-looking statements'' within the meaning of the Private Litigation Reform Act of 1995. Actual results may differ materially from those expressed or implied as a result of certain risks and uncertainties, including, but not limited to, changes in political and economic conditions; interest rate fluctuation; competitive pricing pressures within the Company's market; equity and fixed income market fluctuation; technological changes; changes in law; changes in fiscal, monetary, regulatory, and tax policies; monetary fluctuations as well as other risks and uncertainties detailed elsewhere in this Form 10-Q or from time-to-time in the filings of the Company with the Securities and Exchange Commission. Such forward-looking statements speak only as of the date on which such statements are made, and the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. 3 Table of Contents

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements 374Water Inc. and Subsidiaries Condensed Consolidated Balance Sheets March 31, 202 4 (Unaudited) and December 31, 2023 March 31, 2024 December 31, 2023 Assets Current Assets: Cash $ 7,936,161 $ 10,445,404 Accounts receivable, net of allowance 84,324 64,792 Unbilled accounts receivable 1,771,609 1,494,553 Other accounts receivable 34,161 39,749 Inventory, net 2,601,658 2,276,677 Prepaid expenses 921,365 581,085 Total Current Assets 13,349,278 14,902,260 Long-Term Assets: Property, and Equipment, net 223,339 230,971 Intangible asset, net 971,691 988,029 Total Long-Term Assets 1,195,030 1,219,000 Total Assets $ 14,544,308 $ 16,121,260 Liabilities and Stockholders' Equity Current Liabilities: Accounts payable and accrued expenses $ 755,721 $ 572,297 Accrued contract loss provision 600,000 500,000 Accrued legal settlement 135,000 135,000 Unearned revenue 132,768 130,000 Other liabilities 10,408 36,787 Total Current Liabilities 1,633,897 1,374,084 Total Liabilities 1,633,897 1,374,084 Commitments and contingencies (Note 9) Stockholders' Equity Preferred stock: 50,000,000 convertible Series D preferred shares authorized; par value $ 0.0001 per share, nil issued and outstanding at March 31, 2024 and December 31, 2023 — — Common stock: 200,000,000 common shares authorized, par value $ 0.0001 per share, 132,670,446 and 132,667,107 shares outstanding at March 31, 2024 and December 31, 2023, respectively 13,266 13,266 Additional paid-in capital 30,872,643 30,684,943 Accumulated deficit ( 17,977,969 ) ( 15,953,504 ) Accumulated other comprehensive loss 2,471 2,471 Total Stockholders' Equity 12,910,411 14,747,176 Total Liabilities and Stockholders' Equity $ 14,544,308 $ 16,121,260 The accompanying notes are an integral part of these unaudited condensed consolidated financial st

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View this 10-Q filing on SEC EDGAR