Release Date: November 14, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Q: Can you provide an update on the DOE grant expected for phase two of the project? A: Steve Cotton, CEO: We were not selected for the latest round of the MESC grant. However, we are engaging with various agencies and are optimistic about future opportunities to receive grant funding as we continue to build relationships with these departments.
Q: What is the status of long-term financing and the types of investors involved? A: Steve Cotton, CEO: We have been in discussions with financial and strategic investors since August. While we can't comment on specific structures, we are prioritizing funding for both phase one and phase two of the Sierra Arc project. We are having detailed discussions and expect to report more soon.
Q: Can you clarify the monthly expenses of $500,000 to $600,000? Does this include plant operations? A: Judd Merrill, CFO: Yes, this figure includes total cash needs, covering both G&A and plant operations. We've worked to reduce our burn rate significantly.
Q: Why did Aqua Metals execute a reverse stock split? A: Judd Merrill, CFO: The reverse stock split was primarily to regain compliance with NASDAQ listing requirements, a common action for companies in our sector.
Q: What is the commissioning schedule for the Sierra Arc, assuming long-term funding is secured? A: Steve Cotton, CEO: We project commissioning the first phase of the Sierra Arc within 2 to 3 quarters after securing funding. The building is ready for equipment placement, and much of the equipment is already on order, allowing for a rapid time to market.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
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