Welsbach Technology Metals Acquisition Corp. Reports Increased Losses and Financial Challenges

Welsbach Technology Metals Acquisition Corp. (WTMA) reported a net loss of $520,976 for the three months ended June 30, 2025, compared to a loss of $95,272 for the same period in 2024. For the six months ended June 30, 2025, the company recorded a net loss of $1,041,417, significantly higher than the $165,432 loss reported in the prior year. The increase in losses is attributed to higher operating expenses, which rose to $570,186 in Q2 2025 from $277,662 in Q2 2024, and total operating expenses for the first half of 2025 reached $1,137,909, up from $549,654 in the same period last year.

The company's financial position has also changed notably, with total current assets increasing to $145,213 as of June 30, 2025, from $15,262 at the end of 2024. However, total liabilities surged to $23,448,459, up from $10,930,173 at the end of the previous fiscal year, primarily due to an increase in accounts payable and accrued expenses, which rose to $3,174,499 from $2,929,443. The company’s accumulated deficit has also widened to $12,040,383 as of June 30, 2025, compared to $10,802,493 at the end of 2024.

Strategically, WTMA has been focused on completing a business combination, which is a key aspect of its operations as a blank check company. The company entered into a merger agreement with Evolution Metals LLC, which is expected to be finalized by September 30, 2025. However, the company has faced challenges, including a delisting from Nasdaq due to failure to complete a business combination within the required timeframe. As a result, WTMA's securities are now quoted on the OTC Markets.

Operationally, the company has not generated any revenue as it has not yet completed a business combination. As of June 30, 2025, WTMA had cash of $711 outside of its trust account, which holds approximately $12.25 million. The company has indicated that it will need to raise additional capital to meet its operational needs and to complete its business combination. The management has expressed concerns about the company's ability to continue as a going concern, given its current financial condition and the need for additional financing.

Looking ahead, WTMA aims to finalize its business combination and is actively seeking to secure the necessary funding to support its operations. The company has acknowledged the risks associated with market conditions and the potential impact on its ability to complete the merger. The management remains focused on executing its strategy while navigating the challenges posed by its current financial situation.