American Battery Materials, Inc. reported a net loss of $403,639 for the three months ending March 31, 2025, a significant improvement compared to a net loss of $863,883 during the same period in 2024. The company did not generate any revenue in either quarter. Operating expenses decreased slightly to $258,457 from $264,035 year-over-year, primarily due to reduced professional fees. Interest expenses rose to $145,182 from $78,383, reflecting the company's ongoing financial obligations.
The company's total assets increased to $330,642,000 as of March 31, 2025, up from $322,969,000 at the end of the previous fiscal year. Current assets also rose to $124,642,000, compared to $116,969,000 at the end of December 2024. However, total liabilities remained high at $7,484,887, leading to a stockholders' deficit of $7,154,245, which widened from $6,806,565 at the end of 2024. The company continues to face a working capital deficit of $7,360,245, raising concerns about its ability to continue as a going concern.
Strategically, American Battery Materials has focused on expanding its mineral claims, now owning a total of 743 placer claims over 14,320 acres in Utah. The company formed Mountain Sage Minerals, LLC in April 2023 to facilitate further acquisitions and joint ventures in the Lisbon Valley area. Despite these efforts, the company has not yet established proven mineral reserves and has not generated mining revenue to date.
Operationally, the company has not reported any significant changes in customer counts or user statistics, as it remains in the exploration stage. The employee headcount and engagement metrics were not disclosed in the filing. The company is actively seeking additional financing to support its operations and growth strategy, which may include equity offerings, debt financing, or strategic partnerships. The management has indicated that without sufficient capital, the company may have to negotiate with lenders to extend repayment dates or cease operations entirely.
Looking ahead, American Battery Materials aims to leverage advanced brine extraction technologies to enhance its operational efficiency and sustainability. However, the company acknowledges the challenges posed by market conditions, including economic uncertainty and potential disruptions. The management's outlook remains cautious, emphasizing the need for additional financing to ensure the continuation of its business plans and obligations.
About AMERICAN BATTERY MATERIALS, INC.
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