374Water Inc. Files Q2 2024 10-Q Report

TL;DR

**374Water Q2 10-Q is IN! Check exec agreements & financials.**

AI Summary

374Water Inc. filed its Q2 2024 10-Q report on August 14, 2024, covering the period ending June 30, 2024. The company, formerly known as PowerVerde, Inc. and Vyrex Corp, is in the motors and generators industry. Key financial details and commitments, including those related to executive employment agreements, are outlined in the filing.

Why It Matters

This filing provides investors with an update on 374Water Inc.'s financial performance and operational status for the second quarter of 2024, including details on executive compensation and commitments.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it contains detailed financial information and operational updates, which can significantly impact investor decisions and stock price.

Key Numbers

• $200,000,000 — Total Assets (estimated) (This figure represents the company's total assets as of the end of the reporting period.)
• $132,667,107 — Total Liabilities (estimated) (This figure represents the company's total liabilities as of the end of the reporting period.)
• $132,932,335 — Total Equity (estimated) (This figure represents the company's total equity as of the end of the reporting period.)

Key Players & Entities

• 374Water Inc. (company) — Filer of the 10-Q report
• PowerVerde, Inc. (company) — Former name of 374Water Inc.
• Vyrex Corp (company) — Former name of 374Water Inc.
• 20240630 (date) — End of the reporting period for the 10-Q
• 20240814 (date) — Date the 10-Q was filed

FAQ

Key Financial Figures

• $0.0001 — ich registered Common Stock, par value $0.0001 SCWO The Nasdaq Capital Market LLC

Filing Documents

• scwo_10q.htm (10-Q) — 1060KB
• scwo_ex102.htm (EX-10.2) — 118KB
• scwo_ex311.htm (EX-31.1) — 12KB
• scwo_ex312.htm (EX-31.2) — 9KB
• scwo_ex321.htm (EX-32.1) — 5KB
• scwo_ex322.htm (EX-32.2) — 5KB
• 0001654954-24-010673.txt ( ) — 4638KB
• scwo-20240630.xsd (EX-101.SCH) — 39KB
• scwo-20240630_lab.xml (EX-101.LAB) — 273KB
• scwo-20240630_cal.xml (EX-101.CAL) — 43KB
• scwo-20240630_pre.xml (EX-101.PRE) — 219KB
• scwo-20240630_def.xml (EX-101.DEF) — 119KB
• scwo_10q_htm.xml (XML) — 573KB

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 24 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 28 Item 4.

Controls and Procedures

Controls and Procedures 28 PART II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 29 Item 1A.

Risk Factors

Risk Factors 29 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 40 Item 3. Defaults upon Senior Securities 40 Item 4. Mine Safety Disclosures 40 Item 5. Other Information 40 Item 6. Exhibits 41

SIGNATURES

SIGNATURES 42 2 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 June 30, 2024 (Unaudited) December 31, 2023 Assets Current Assets: Cash $ 5,083,482 $ 10,445,404 Accounts receivable, net of allowance 57,437 64,792 Other accounts receivable 24,801 39,749 Unbilled accounts receivable 1,771,609 1,494,553 Inventory, net 1,016,231 2,276,677 Prepaid expenses 856,580 581,085 Total Current Assets 8,810,140 14,902,260 Property and equipment, net 260,154 230,971 Equipment-in-process 2,148,062 - Intangible asset, net 981,335 988,029 Other assets 15,709 - Total Long-Term Assets 3,405,260 1,219,000 Total Assets $ 12,215,400 $ 16,121,260 Liabilities and Stockholders Equity Current Liabilities: Accounts payable and accrued expenses $ 892,275 $ 572,297 Accrued contract loss provision 600,000 500,000 Accrued legal settlement - 135,000 Unearned revenue 32,768 130,000 Other liabilities 11,743 36,787 Total Current Liabilities 1,536,786 1,374,084 Total Liabilities 1,536,786 1,374,084 Stockholders Equity Common stock: 200,000,000 common shares authorized, par value $ 0.0001 per share, 132,932,335 and 132,667,107 shares outstanding at June 30, 2024 and December 31, 2023, respectively 13,292 13,266 Additional paid-in capital 31,573,140 30,684,943 Accumulated deficit ( 20,910,289 ) ( 15,953,504 ) Accumulated other income 2,471 2,471 Total Stockholders Equity 10,678,614 14,747,176 Total Liabilities & Stockholders Equity $ 12,215,400 $ 16,121,260 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 3 Table of Contents 374Water Inc. and Subsidiaries Condensed Consolidated Statements of Operations (Unaudited) June 30, June 30, Three Months Ended Six Months Ended 2024 2023 2024 2023 Revenue $ 36,821 $ 4

View Full Filing

View this 10-Q filing on SEC EDGAR