$SCWO
374Water Inc

2022 Q3 Form 10-Q Financial Statement

#000165495422010596 Filed on August 04, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $922.7K $1.031M $273.2K
YoY Change 4756.41% 6958.41%
Cost Of Revenue $812.4K $902.5K $248.0K
YoY Change
Gross Profit $110.3K $128.0K $25.25K
YoY Change 480.69% 776.85%
Gross Profit Margin 11.96% 12.42% 9.24%
Selling, General & Admin $905.1K $920.2K $713.3K
YoY Change 98.72% 152.31% 1683.25%
% of Gross Profit 820.32% 718.8% 2825.51%
Research & Development $118.3K $422.7K $185.7K
YoY Change 2.0% 239.04% 536.12%
% of Gross Profit 107.18% 330.18% 735.41%
Depreciation & Amortization $650.00 $16.71K $235.00
YoY Change -95.95% 5867.86%
% of Gross Profit 0.59% 13.05% 0.93%
Operating Expenses $1.023M $1.343M $899.0K
YoY Change 79.09% -28.92% 1250.77%
Operating Profit -$913.0K -$1.215M -$873.7K
YoY Change 65.28% -35.19% 1212.84%
Interest Expense $160.00 $610.00 $840.00
YoY Change -62.79% 90.63%
% of Operating Profit
Other Income/Expense, Net $162.00 $613.00 $847.00
YoY Change -100.03% 89.78%
Pretax Income -$912.8K -$1.214M -$872.9K
YoY Change 65.38% -35.21% 1211.56%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$912.8K -$1.214M -$872.9K
YoY Change 65.38% -35.21% 1211.56%
Net Earnings / Revenue -98.93% -117.83% -319.46%
Basic Earnings Per Share
Diluted Earnings Per Share -$7.206K -$9.585K -$6.900K
COMMON SHARES
Basic Shares Outstanding 126.7M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.402M $10.09M $11.24M
YoY Change 22.7% 60.26% 37379.33%
Cash & Equivalents $2.408M $3.132M $11.24M
Short-Term Investments $5.994M $6.988M
Other Short-Term Assets $1.298M $527.7K $167.9K
YoY Change 3091.37% 3506.97% 739.35%
Inventory
Prepaid Expenses $1.298M $527.7K $167.9K
Receivables $35.48K $242.8K
Other Receivables $0.00 $0.00
Total Short-Term Assets $9.865M $10.86M $11.41M
YoY Change 42.95% 71.89% 22723.32%
LONG-TERM ASSETS
Property, Plant & Equipment $124.6K $6.843K $4.015K
YoY Change 5576.22% 418.41%
Goodwill
YoY Change
Intangibles $1.047M
YoY Change
Long-Term Investments
YoY Change
Other Assets $35.17K $34.36K $34.31K
YoY Change 74.98% 70.95%
Total Long-Term Assets $1.141M $1.038M $1.051M
YoY Change 5.6% -5.22%
TOTAL ASSETS
Total Short-Term Assets $9.865M $10.86M $11.41M
Total Long-Term Assets $1.141M $1.038M $1.051M
Total Assets $11.01M $11.90M $12.46M
YoY Change 37.89% 60.5% 24824.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.044M $682.6K $144.0K
YoY Change 1256.46% 339.08% -27.98%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.262M $1.432M $910.5K
YoY Change 1160.37% 718.34% 85.82%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.262M $1.432M $910.5K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $1.262M $1.432M $910.5K
YoY Change 1160.37% 718.34% 33.9%
SHAREHOLDERS EQUITY
Retained Earnings -$6.160M -$5.247M -$4.033M
YoY Change 147.57% 170.99%
Common Stock $12.67K $12.67K $12.67K
YoY Change 3.14% -98.82%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.743M $10.46M $11.55M
YoY Change
Total Liabilities & Shareholders Equity $11.01M $11.90M $12.46M
YoY Change 37.89% 60.5% 24824.62%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$912.8K -$1.214M -$872.9K
YoY Change 65.38% -35.21% 1211.56%
Depreciation, Depletion And Amortization $650.00 $16.71K $235.00
YoY Change -95.95% 5867.86%
Cash From Operating Activities -$1.574M -$1.140M $115.9K
YoY Change 170.85% 141.3% -2981.92%
INVESTING ACTIVITIES
Capital Expenditures -$118.4K -$3.320K $3.291K
YoY Change 10377.88% 178.99%
Acquisitions
YoY Change
Other Investing Activities $1.000M -$7.000M
YoY Change -72194.95%
Cash From Investing Activities $882.0K -$7.004M -$3.291K
YoY Change -78155.75% -82303.52%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 0.000 $0.00
YoY Change -100.0% -100.0% -100.0%
NET CHANGE
Cash From Operating Activities -1.574M -1.140M $115.9K
Cash From Investing Activities 882.0K -7.004M -$3.291K
Cash From Financing Activities 0.000 0.000 $0.00
Net Change In Cash -692.4K -8.143M $112.6K
YoY Change -225.31% -230.85% 13995.12%
FREE CASH FLOW
Cash From Operating Activities -$1.574M -$1.140M $115.9K
Capital Expenditures -$118.4K -$3.320K $3.291K
Free Cash Flow -$1.456M -$1.136M $112.6K
YoY Change 150.97% 141.21% -2900.1%

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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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scwo Repayments To Advances From Stockholders
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us-gaap Proceeds From Sale Maturity And Collections Of Investments
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scwo Conversion Of Stock Amount Issued
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us-gaap Net Cash Provided By Used In Financing Activities
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scwo Conversion Of Stock Amount Issued
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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us-gaap Proceeds From Sale Maturity And Collections Of Investments
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us-gaap Net Cash Provided By Used In Financing Activities
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021Q2 us-gaap Deferred Revenue Current
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us-gaap Taxes And Licenses
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scwo Accounts Payable Settled With Series D Preferred Stock
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scwo Accounts Payable Settled With Series D Preferred Stock
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us-gaap Cash Acquired From Acquisition
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us-gaap Cash Acquired From Acquisition
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us-gaap Other Expenses
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scwo Increase Decrease In Accounts Receivable Net Liabilities Assumed Reverse Acquisition
IncreaseDecreaseInAccountsReceivableNetLiabilitiesAssumedReverseAcquisition
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scwo Increase Decrease In Accounts Receivable Net Liabilities Assumed Reverse Acquisition
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us-gaap Increase Decrease In Accrued Liabilities
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us-gaap Liabilities Assumed1
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us-gaap Liabilities Assumed1
LiabilitiesAssumed1
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CY2021Q2 scwo Shares Issued To Former Holder
SharesIssuedToFormerHolder
62410452 shares
CY2021Q2 scwo Merger Effect Description
MergerEffectDescription
Immediately following the Merger, Private 374Water changed its name to 374Water Systems Inc and PowerVerde changed its name to 374Water Inc. After the Merger, the former Private 374Water stockholders owned 64.2% of the Company’s issued and outstanding common stock and 53.8% of the Company’s issued and outstanding voting stock which includes the Preferred Stock.
CY2022Q2 scwo Investments Adjusted Cost
InvestmentsAdjustedCost
10068753 usd
us-gaap Unrealized Loss On Securities
UnrealizedLossOnSecurities
11243 usd
CY2022Q2 us-gaap Investments Fair Value Disclosure
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10056841 usd
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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3131902 usd
CY2022Q2 us-gaap Marketable Securities Current
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6956426 usd
CY2022Q2 us-gaap Marketable Securities Noncurrent
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242816 usd
CY2021Q4 us-gaap Accounts Receivable Net Current
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us-gaap Depreciation
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728 usd
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1363149 shares
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us-gaap Research And Development Expense
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608348 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
153860 usd
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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12660000 shares
CY2022Q2 scwo Deferred Revenue Percentage
DeferredRevenuePercentage
1 pure
us-gaap Use Of Estimates
UseOfEstimates
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates in the accompanying financial statements include the fair value of equity-based compensation, useful lives of intangible assets, and valuation allowance against deferred tax assets.</p>
CY2022Q2 us-gaap Capital
Capital
9426666 usd
CY2022Q4 us-gaap Capital
Capital
11263270 usd
CY2022Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-5247148 usd
us-gaap Net Income Loss
NetIncomeLoss
-2087133 usd
us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
1023731 usd
CY2021Q2 us-gaap Capital
Capital
6142238 usd
CY2021Q4 us-gaap Capital
Capital
10572 usd
CY2021Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-1936266 usd
us-gaap Net Income Loss
NetIncomeLoss
-1940858 usd
us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
472286 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1062856 usd
us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
487 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
32446 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1030897 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
33174 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
32456 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
64913 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
64913 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
64913 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
64913 usd
CY2022Q2 scwo Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
738789 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1030897 usd
CY2022Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2022Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000 shares
CY2022Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
126680895 shares
CY2022Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
2090431 usd
CY2021Q2 scwo Number Of Warrant Purchase
NumberOfWarrantPurchase
3783333 shares
CY2021Q2 us-gaap Warrant Exercise Price Increase
WarrantExercisePriceIncrease
0.30
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.37
CY2021Q2 scwo Aggregate Fair Value Of Warrant
AggregateFairValueOfWarrant
1399833 usd
CY2021Q4 scwo Stock Issued Upon Warrant Exercised
StockIssuedUponWarrantExercised
3783333 shares
CY2021Q4 scwo Proceeds From Stock Issued Upon Warrants Exercised Amount
ProceedsFromStockIssuedUponWarrantsExercisedAmount
1134499 usd
CY2022Q2 scwo Warrants Outstanding Series One Shares
WarrantsOutstandingSeriesOneShares
1250000 shares
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
2.50
CY2022Q2 scwo Share Based Compensation Arrangement By Share Based Payment Award Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOutstandingIntrinsicValue
550000 usd
CY2022Q2 us-gaap Common Stock No Par Value
CommonStockNoParValue
2.94
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
1250000 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.50
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
437500 usd
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P2Y11M15D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
0 shares
scwo Weighted Average Exercise Price Exercised
WeightedAverageExercisePriceExercised
0
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
1250000 shares
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
2.50
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
550000 usd
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P2Y5M19D
scwo Stock In Excess Percentage Of Outstanding Share
StockInExcessPercentageOfOutstandingShare
0.05 pure
us-gaap Related Party Costs
RelatedPartyCosts
551581 usd
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
25000 usd

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