Evolution Metals LLC Files Q2 2025 10-Q

TL;DR

Evolution Metals LLC filed its Q2 10-Q on 8/19/25. Check financials.

AI Summary

Evolution Metals LLC filed its quarterly report (10-Q) for the period ending June 30, 2025. The company, incorporated in Delaware with its principal business address at 516 S Dixie Hwy, Unit 209, West Palm Beach, FL, is involved in the miscellaneous electrical machinery, equipment, and supplies sector. The filing was made on August 19, 2025, under SEC file number 333-283119-05.

Why It Matters

This filing provides investors with an update on Evolution Metals LLC's financial performance and operational status for the second quarter of 2025.

Risk Assessment

Risk Level: low — This is a routine quarterly filing and does not contain immediate red flags or significant new risks.

Key Numbers

• 20250630 — Quarter End Date (Indicates the end of the reporting period.)
• 20250819 — Filing Date (Shows when the report was submitted to the SEC.)

Key Players & Entities

• Evolution Metals LLC (company) — Registrant
• June 30, 2025 (date) — Quarterly period end date
• August 19, 2025 (date) — Filing date
• 333-283119-05 (dollar_amount) — SEC file number
• 516 S Dixie Hwy, Unit 209 (company) — Business address
• West Palm Beach, FL (company) — Business location

FAQ

Key Financial Figures

• $0.0001 — 000 member units, non-voting, par value $0.0001 per unit, of the registrant issued and

Filing Documents

• ea0252427-10q_evolution.htm (10-Q) — 577KB
• ea025242731-1_evolution.htm (EX-31.1) — 11KB
• ea025242732-1_evolution.htm (EX-32.1) — 5KB
• 0001213900-25-078479.txt ( ) — 3648KB
• eml-20250630.xsd (EX-101.SCH) — 39KB
• eml-20250630_cal.xml (EX-101.CAL) — 22KB
• eml-20250630_def.xml (EX-101.DEF) — 152KB
• eml-20250630_lab.xml (EX-101.LAB) — 292KB
• eml-20250630_pre.xml (EX-101.PRE) — 167KB
• ea0252427-10q_evolution_htm.xml (XML) — 402KB

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 25 Item 4.

Controls and Procedures

Controls and Procedures 25

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 27 Item 1A.

Risk Factors

Risk Factors 27 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 28 Item 3. Defaults upon Senior Securities 28 Item 4. Mine Safety Disclosures 28 Item 5. Other Information 28 Item 6. Exhibits 29

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements EVOLUTION METALS LLC CONDENSED CONSOLIDATED BALANCE SHEETS June 30, 2025 December 31, 2024 (Unaudited) ASSETS Current assets Cash and cash equivalents $ 1,614,314 $ 2,614,710 Prepaid expenses and other current assets 97,944 23,191 Notes receivable, current, net 1,308,091 957,717 Notes receivable, related party, net 2,872,451 1,624,850 Convertible notes receivable, net 2,125,898 1,981,420 Total current assets 8,018,698 7,201,888 Deferred transaction costs 7,988,820 3,994,751 Notes receivable, net of current portion, net — 4,500,000 TOTAL ASSETS $ 16,007,518 $ 15,696,639 LIABILITIES AND MEMBERS' DEFICIT Current liabilities Accounts payable $ 4,128,600 $ 1,523,278 Accrued expenses 40,086 84,337 July Investment Agreement Derivative (Note 8) 112,521,314 53,231,638 CPU Share Allocation Obligations (Note 8) 4,166,671 10,231,516 Total current liabilities 120,856,671 65,070,769 TOTAL LIABILITIES 120,856,671 65,070,769 COMMITMENTS AND CONTINGENCIES (NOTE 11) MEMBERS' DEFICIT Member units, voting, $ 0.0001 par value; unlimited units authorized at June 30, 2025 and December 31, 2024; 100,000 and 1,000,000 units issued and outstanding at June 30, 2025 and December 31, 2024, respectively 10 100 Member units, non-voting, $ 0.0001 par value; unlimited units authorized at June 30, 2025; 900,000 and 0 units issued and outstanding at June 30, 2025 and December 31, 2024, respectively 90 — Convertible preferred units, $ 0.0001 par value; unlimited units authorized at June 30, 2025 and December 31, 2024, 42,280,021 and 35,230,021 units issued and outstanding at June 30, 2025 and December 31, 2024, respectively 12,337,352 9,587,352 Accumulated deficit ( 117,186,605 ) ( 58,961,582 ) TOTAL MEMBERS' DEFICIT ( 104,849,153 ) ( 49,374,130 ) TOTAL LIABILITIES AND MEMBERS' DEFICIT $ 16,007,518 $ 15,696,639 The accompanying notes are an integral part of these unaud

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS JUNE 30, 2025 Note 1 — Description of Organization and Business Operations Evolution Metals LLC (the "Company" or "EM LLC") was formed in Delaware in February 2024 to develop a secure, reliable global supply chain for critical minerals and materials ("CMM"), leveraging advanced technologies and strategic consolidation of midstream and downstream manufacturers. The Company will support key industries, such as automotive while driving a sustainable future through efficient processing and the application of cutting edge robotics and artificial intelligence ("AI"). The Company has two wholly owned subsidiaries: EM LLC (Korea), incorporated in South Korea on January 10, 2025, and EMT Sub Co. Ltd ("EMT Sub") incorporated in South Korea on January 21, 2025. To achieve this vision, the Company entered into equity purchase agreements during 2024 to acquire a controlling equity interest in four separate entities (collectively, the "Four Entities") critical to the CMM supply chain in order to combine initial capabilities believed to serve as the foundation for the Company's growth — transforming raw materials into essential components for further manufacturing; recycling lithium batteries; producing materials that are essential feedstocks used in the production of advanced magnets, which include (a) bonded magnets that are vital components in various high-tech applications (including automotive, aerospace, and consumer electronics industries) and (b) sintered magnets that are crucial for high-performance applications (particularly in the defense and aerospace sectors where precision and durability are paramount); developing AI software and machines to drive automation, innovation, and efficiency to reduce labor costs, lower manufacturing reject rates, and automating the quality of control processes. The Four Entities are four Korean companies. Upon completion of the acquisition of the Four Entities, the Company is expected to produce materials annu

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