Ringrock
2年前
374Water FY22 EPS $(0.04) Vs $(0.03) YoY; FY22 Revenue $3.02M Vs $48,100 YoY
BENZINGA
9:08 AM ET Mar-17-2023
374Water Inc. (NASDAQ:SCWO), a global cleantech and social impact company, today provides a business update and reports its financial results for the year ended December 31, 2022.
The year was marked by meaningful progress in the Company's endeavor to commercialize its pioneering technology. Highlights from the year include:
Revenue for 2022 was $3.02 million compared to $48,100 in 2021, an increase of 6,169%.
In accordance with its plan, substantially completed development of the first municipal-scale AirSCWOTM system set to be installed by the Orange County Sanitation District in summer 2023, representing the municipal opportunities for the Company as new regulations emerge.
The Company was selected by the US Navy for Joint NDCEE Project, part of a broader initiative by the DoD to identify viable PFAS destruction solutions for deployment on military bases and by the Air Force Civil Engineer Center's (AFCEC) Environmental Directorate for the first field-scale case study to use SCWO technology to destroy the PFAS-laden spent media generated from the groundwater pump and treat remediation systems.
Plans to demonstrate its technology at its manufacturing facility in Kokomo, IN from March 27-29, 2023
Expanded international recognition by entering into a Memorandum of Understanding (MOU) with Forever Water Ecuador and a Strategic Partnership Agreement with The Environmental Group of Australia to highlight and promote 374Water's innovative and sustainable AirSCWO(TM) wastewater and waste management technology.
Broadened Company leadership with the addition of Lisa Neuberger Fernandez as Global Head of Sustainability & Ecosystems and Doron Gez as Senior Vice President, Marketing.
"2022 was a great year in which the team delivered substantial revenue growth by executing contracts for our technology including progress on our OC Sanitation project and new projects with The Air Force and Navy while managing costs, proving the scalability of our technology," said Israel Abitbol, Chief Financial Officer of 374Water.
"This year marked meaningful milestones, including substantially completing the development of The AirSCWO(TM) 6 system for our municipal installation during summer 2023. As we look ahead, recent EPA guidelines provide regulatory tailwinds and pave the way toward realizing our vision of a circular economy wherein our revolutionary technology transforms hard to treat waste like PFAS into clean water, energy and minerals," said Kobe Nagar, 374Water Chairman and CEO. "The addressable market for our technology continues to grow and during 2022, we demonstrated the versatility of our platform, providing a unique value proposition to attract customers across multiple industries and market verticals over the long term."
2022 Financial Results
Revenue for the year was $3.02 million compared to $48,100 in 2021, an increase of 6,169%. The increase in revenue during 2022 was primarily a result of recognizing a portion of the revenue associated with the sale of our first AirSCWO(TM) system.
General and administrative expenses were $1.6 million in 2022, compared to $1.1 in 2021. The change is primarily associated with our status as a Nasdaq-traded public company.
Research and development expenses were $1.1 million during the year, compared to $375,032 in 2021, primarily a result of the increase in engineering costs related to commercializing our system.
Net loss was $4.7 million, or $(0.04) per basic and diluted share, compared to a net loss of $3.2 million, or $(0.03) per basic diluted share, in 2021.
Total cash and investments were $6 million as of December 31, 2022, compared to $11.1 million as of December 31, 2021. Total current assets were $8.7 million and current liabilities were $1.6 million as of the same date, compared to $ 11.3 million and $86,371 respectively, in the year-ended reporting period.
For more on AirSCWO(TM) or about our team, visit 374Water.com or follow us on LinkedIn and Twitter.
ALERTS100%to10000%GAIN
4年前
POWERVERDE, INC. : Entry into a Material Definitive Agreement, Financial Statements and Exhibits (form 8-K)
share with twitter share with LinkedIn share with facebook
0
09/24/2020 | 05:28pm EDT
Item 1.01. Entry into a Material Definitive Agreement
On September 20, 2020, PowerVerde Inc. ("PowerVerde") signed a Binding Letter of Intent for a merger (the "LOI") with 374Water Inc. ("374Water") a privately-held company based in Durham, North Carolina www.374water.com.
Subject to the terms and conditions set forth in the LOI, 374Water will merge into a newly- formed wholly-owned subsidiary of PowerVerde (the "Sub"), with the Sub as the surviving corporation (the "Merger"). Upon closing of the Merger, PowerVerde will issue new shares of PowerVerde stock to 374Water shareholders such that 374Water shareholders will own approximately 60% of the combined company, and PowerVerde shareholders will own approximately 40%. The Merger is subject to adjustments for liabilities, and the closing is contingent on the achievement of certain milestones and satisfaction of conditions by both parties prior to closing, including the raising of at least $6.25 million of additional capital pursuant to a private placement by March 31, 2021.
The foregoing description of the LOI does not purport to be complete and is qualified in its entirety by reference to the LOI, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits
(d) The following exhibit is filed with this report:
Exhibit Number Description
99.1 Binding Letter of Intent, dated as of September 20, 2020,
between PowerVerde Inc., and 374Water Inc.
Citrati
12年前
risehigh, noticed on CLSN board your mom finished her 6 infusions. Great milestone. I am 4 years this month from my last treatment. PM me your e-mail if I can be of any help. Get your mom to a massage therapist 2 times, a week apart, and then once more 2 weeks after that for full body massage (takes 45 miniutes to one hour. It is well worth the cost and it will help drive the toxins stuck deep in the tissues out. It also helped in recovering energy. My first massage, I actually had to stop after 30 minutes because the toxins being loosened made me feel sick just like chemo treatment did. Make sure she still drinks tons of fluids. Could give you much more, but don't want to clutter a dead board. Wish you and your mom all the best. Citrati
Citrati
12年前
risehigh, Is her treatment cycle r-chop or another one? Each regimen has some different drug combos with different side effects, so knowing the treatment name will help me tell you what might help. If her pain is from the Neulasta shot (given to increase white blood cells) so the treatments can stay on schedule, then the following may help the pain. Many people have found that taking Clariton (yeah the allergy stuff) for 2-4 days or as needed after the shot helps a lot. NSAIDS like ibuprofin can also help. For really severe pain ibuprofin plus percodan, or another strong pain killer may be needed. Ask her oncologist. Anything like acetyminifin is useless. Make sure to tell oncologist everything you need or want to try so they can track all drug combos.
Nausea is like pain, tell her to not be a hero and take the anti-nausea medication they prescribe early on when she feels the need. The longer she waits the harder it will be to control. If she has burning problems from acid, Prilosec works well and can be taken as needed or until a few weeks after she is done with chemo with no problems.
Not much can be done about fatigue, but if she can do some walking, even assisted, it will help a lot. Any exercise and movement is helpful. Cheerfulness and positive faith (yeah I know tougher done than said) actually helps with the fatigue. Projects and things to occupy the mind also help. Crosswords, maybe or a craft. Those kinds of things.
Watermelon juice can help with the metallic mouth taste. Hopefully, she is drinking lots of water and fluids---can't stress this enough as flushing the system protects the kidneys, bladder and liver (all the bodies filtering system) from greater harm.
If you will let me know a specific day and time to be in here, I will give you my phone # and e-mail. That way I can delete it within 15 minutes and it is not left for the world to access. Lots I could tell you. Best Wishes, Citrati