ABAT American Battery Technology Company

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): February 13, 2025

 

AMERICAN BATTERY TECHNOLOGY COMPANY

(Exact name of registrant as specified in its charter)

 

Nevada		001-41811		33-1227980
(State or other jurisdiction of		(Commission		(IRS Employer
incorporation or organization)		File No.)		Identification Number)

 

100 Washington Street, Suite 100 Reno, NV		89503
(Address of principal executive offices)		(Zip Code)

 

(775) 473-4744

(Registrant’s telephone number including area code)

 

N/A

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of Each Class		Trading Symbol(s)		Name of Each Exchange on Which Registered
Common Stock, $0.001 par value		ABAT		The Nasdaq Stock Market LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

Item 2.02 Results of Operations and Financial Condition.

 

On February 13, 2025, American Battery Technology Company (the “Company”) issued a press release announcing that it would hold an earnings call on February 14, 2025, to discuss its financial results for the fiscal quarter ended December 31, 2025. The full text of the press release issued in connection with the announcement is furnished hereto as Exhibit 99.1.

 

On February 14, 2025, the Company posted an investor presentation to its website used in the earnings call pertaining to the financial results for the fiscal quarter ended December 31, 2025. On February 14, 2024, the Company issued a press release announcing the Company’s financial results for the fiscal quarter ended December 31, 2025. The presentation and the press release are furnished hereto as Exhibit 99.2 and Exhibit 99.3, respectively.

 

The information in this Current Report on Form 8-K, including Exhibit 99.1, Exhibit 99.2 and Exhibit 99.3, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference into any other filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit Number		Description of Exhibit
99.1		Press Release, dated February 13, 2025
99.2		Investor Presentation, dated February 14, 2025
99.3		Press Release, dated February 14, 2025
104		Cover Page Interactive Data File. The cover page XBRL tags are embedded within the inline XBRL document (contained in Exhibit 101)

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

	AMERICAN BATTERY TECHNOLOGY COMPANY
Date: February 19, 2025	By:	/s/ Ryan Melsert
		Ryan Melsert
		Chief Executive Officer

 

 

Exhibit 99.1

 

 

American Battery Technology Company Hosts Second Quarter Fiscal Year 2025 Earnings Call Friday, February 14, 2025

 

Reno, Nev., February 13, 2025 — American Battery Technology Company (ABTC) (NASDAQ: ABAT), an integrated critical battery materials company that is commercializing its technologies for both primary battery minerals manufacturing and secondary minerals lithium-ion battery recycling, expects to release its second quarter fiscal year (FY) financial results on February 14, 2025, and the company will host an earnings call on Friday, February 14, at 4:30 p.m. ET.

 

Those interested in viewing the livestream can visit: American Battery Technology Company Livestream FY25 Q2. The livestream replay and any related presentation will also be made available at www.americanbatterytechnology.com/events-presentations.

 

About American Battery Technology Company

 

American Battery Technology Company (ABTC), headquartered in Reno, Nevada, has pioneered first-of-kind technologies to unlock domestically manufactured and recycled battery metals critically needed to help meet the significant demand from the electric vehicle, stationary storage, and consumer electronics industries. Committed to a circular supply chain for battery metals, ABTC works to continually innovate and master new battery metals technologies that power a global transition to electrification and the future of sustainable energy.

 

Forward-Looking Statements

 

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are “forward-looking statements.” Although the American Battery Technology Company’s (the “Company”) management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company’s future results to differ materially from those anticipated. Potential risks and uncertainties include, among others, risks and uncertainties related to the Company’s ability to continue as a going concern; general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; fluctuating mineral and commodity prices. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company’s filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended June 30, 2024. The Company assumes no obligation to update any of the information contained or referenced in this press release.

 

###

 

American Battery Technology Company

Media Contact:

Tiffiany Moehring

tmoehring@batterymetals.com

720-254-1556

 

 

 

Exhibit 99.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exhibit 99.3

 

 

American Battery Technology Company Releases Second Quarter Fiscal Year 2025 Financial Report

 

Company demonstrates significantly increased throughput at its first lithium-ion battery recycling facility, and continues development of two additional critical mineral facilities

 

Reno, Nev., February 14, 2025 — American Battery Technology Company (ABTC) (NASDAQ: ABAT), an integrated critical battery minerals company that is commercializing its first-of-kind technologies for both primary battery minerals manufacturing and secondary minerals lithium-ion battery recycling, announced its second quarter fiscal year (FY) 2025 financial results, for the period ending December 31, 2024.

 

Company Highlights from Second Fiscal Quarter 2025:

 

●	ABTC successfully implemented several key process enhancements to its first battery recycling near Reno, Nevada during the quarter. This required a temporary pause in operations, and resulted in significant increases in subsequent plant throughput:

 

	○	Facility throughput in January 2025 was greater than 225% the average monthly throughput in the previous quarter.
	○	Facility throughput in the first week of February 2025 was greater than 350% the average weekly throughput in the previous quarter.

 

●	Inclusive of the temporary pause in operations for facility upgrading, the company generated $332,000 in revenue from the sale of recycled products during the three months ended December 31, 2024. The cash cost of goods sold for this period was $2.1 million, after the removal of non-cash items such as depreciation expense and stock-based compensation.
●	As of December 31, 2024, the company had total cash on hand of $20.6 million, including $15.6 million of available cash and $5 million restricted cash.
●	Government grant reimbursement was $2.3 million for the six months ended December 31, 2024, compared to $1.7 million during the same period of the prior year.
●	ABTC successfully completed combined sets of safety audits, environmental reviews, and qualification processes with several additional global automotive, battery manufacturers, and other strategic original equipment manufacturers (OEMs).
●	As the company has engaged with several OEMs for larger quantities of battery feed material than could be processed at its first battery recycling facility, ABTC is in the process of establishing a second battery recycling facility with approximately 5 times the throughput capacity of its first facility. On December 18, 2024, the company received a contract for a competitive grant award for $144 million of federal investment from the U.S. Department of Energy (DOE) to support the development and construction of this second facility.

 

 

●	ABTC has an internally-developed set of technologies to manufacture battery grade lithium hydroxide (LiOH) from Nevada-based claystone material. ABTC has constructed a multi-tonne per day integrated pilot facility to demonstrate these technologies, and continues to produce battery grade lithium hydroxide product from this facility for evaluation by customers.
●	Based on these demonstrated technologies, ABTC is designing and intends to construct a 30,000 tonne LiOH per year commercial scale refinery near Tonopah, Nevada, and has been awarded a $57.7 million competitive grant from the US DOE to support this project.

 

Concurrent Commercialization of Recycling and Primary Resource Operations

 

ABTC is in the fortunate position of having developed technologies for the manufacturing of critical minerals both from its battery recycling operations as well as from its primary claystone to lithium operations. This allows ABTC to move forward with the construction and operation of commercial manufacturing facilities for both sets of technologies to provide its customers and partners with a wide range of critical mineral products from a diversified set of domestic-US feed materials.

 

Progressing first-of-kind technologies from initial design, to testing and bench scale validations, to integrated piloting, and through commercialization is a multi-faceted process that requires a broad range of skillsets and resources. ABTC is advancing these sets of first-of-kind technologies simultaneously to support the increasing need for domestic-US energy independence, critical minerals dominance, and economic security.

 

Additional recent company information and updates can be found at www.americanbattery.com/events-and-presentations, including:

 

	●	American Battery Technology Company’s Annual Meeting of Shareholders Fiscal 2024, Presentation.
	●	American Battery Technology Company’s Annual Meeting of Shareholders Fiscal 2024, Video Playback.

 

About American Battery Technology Company

 

American Battery Technology Company (ABTC), headquartered in Reno, Nevada, has pioneered first-of-kind technologies to unlock domestically manufactured and recycled battery metals critically needed to help meet the significant demand from the electric vehicle, stationary storage, and consumer electronics industries. Committed to a circular supply chain for battery metals, ABTC works to continually innovate and master new battery metals technologies that power a global transition to electrification and the future of sustainable energy.

 

Forward-Looking Statements

 

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are “forward-looking statements.” Although the American Battery Technology Company’s (the “Company”) management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company’s future results to differ materially from those anticipated. Potential risks and uncertainties include, among others, risks and uncertainties related to the Company’s ability to continue as a going concern; interpretations or reinterpretations of geologic information, unfavorable exploration results, inability to obtain permits required for future exploration, development or production, general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; fluctuating mineral and commodity prices, final investment approval and the ability to obtain necessary financing on acceptable terms or at all. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company’s filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended June 30, 2024. The Company assumes no obligation to update any of the information contained or referenced in this press release.

 

###

 

American Battery Technology Company

Media Contact:

Tiffiany Moehring

tmoehring@batterymetals.com

720-254-1556

 

 

AMERICAN BATTERY TECHNOLOGY COMPANY

Unaudited Condensed Consolidated Statements of Operations

 

		Three months ended December 31, 2024				Three months ended December 31, 2023				Six months ended December 31, 2024				Six months ended December 31, 2023
Revenue		$	332,440			$	–			$	534,400			$	–
Cost of goods sold			3,305,743				–				5,848,384				–
Gross loss			(2,973,303	)			–				(5,313,984	)			–
Expenses:
General and administrative		$	7,673,022			$	4,416,716			$	12,682,863			$	7,470,713
Research and development			2,919,865				3,569,167				4,952,000				7,183,018
Exploration costs			234,568				823,425				655,075				2,173,345
Total operating expenses			10,827,455				8,809,308				18,289,938				16,827,076
Net loss before other income (expense)			(13,800,758	)			(8,809,308	)			(23,603,922	)			(16,827,076	)
Other income (expense)
Interest income (expense)			597				(7,647	)			(3,978	)			(142,636	)
Amortization and accretion of financing costs			(732,197	)			(1,132,258	)			(1,904,546	)			(1,865,154	)
Unrealized gain (loss) on investment			-				826				-				(5,497	)
Change in fair value of derivative liability			-				(229,472	)			705,184				(229,473	)
Loss on debt extinguishment			-				-				(675,648	)			-
Loss on private placement			-				-				(567,161	)			-
Change in fair value of liability-classified financial instruments			1,116,388				-				875,100				-
Other income			15,464				-				79,896				-
Total other income (expense)			400,252				(1,368,551	)			(1,491,153	)			(2,242,760	)
Net loss		$	(13,400,506	)		$	(10,177,859	)		$	(25,095,075	)		$	(19,069,836	)
Net loss per share, basic and diluted		$	(0.18	)		$	(0.21	)		$	(0.35	)		$	(0.40	)
Weighted average shares outstanding			75,315,210				47,760,809				72,123,576				47,357,879

 

 

AMERICAN BATTERY TECHNOLOGY COMPANY

Unaudited Condensed Consolidated Balance Sheets

 

		December 31, 2024				June 30, 2024
ASSETS
Cash		$	15,623,762			$	7,001,786
Accounts receivable			323,975				228,499
Inventory (Note 4)			574,103				154,320
Grants receivable (Note 5)			27,119				191,522
Prepaid expenses and deposits			527,230				1,813,050
Subscription receivable (Note 13)			-				608,333
Restricted cash			5,000,000				-
Assets held-for-sale (Note 7)			8,408,538				8,408,538
Total current assets			30,484,727				18,406,048
Property, plant and equipment, net (Note 7)			44,534,680				46,314,966
Mining properties (Note 8)			8,392,977				8,392,977
Intangible assets (Note 9)			4,519,038				4,519,038
Right-of-use asset (Note 12)			357,431				42,103
Total assets		$	88,288,853			$	77,675,132
LIABILITIES & STOCKHOLDERS’ EQUITY
Accounts payable and accrued liabilities (Note 10)		$	7,167,414			$	9,233,806
Right-of-use lease liability – operating			108,600				117,131
Notes payable, current (Note 11)			10,165,377				6,447,361
Total current liabilities			17,441,391				15,798,298
Right-of-use lease liability – operating – long-term			250,416				-
Equity compensation liability (Note 15)			-				409,194
Total liabilities			17,691,807				16,207,492
Commitments and contingencies (Note 17)			–				–
Stockholders’ Equity:
Series A Preferred Stock Authorized: 33,334 preferred shares, par value of $0.001 per share; Issued and outstanding: nil preferred shares as of December 31, 2024 and June 30, 2024.			–				–
Series B Preferred Stock Authorized: 133,334 preferred shares, par value of $10.00 per share; Issued and outstanding: nil preferred shares as of December 31, 2024 and June 30, 2024.
Series C Preferred Stock Authorized: 66,667 preferred shares, par value of $10.00 per share; Issued and outstanding: nil preferred shares as of December 31, 2024 and June 30, 2024.			–				–
Series D Preferred Stock Authorized: 5 preferred shares, par value of $0.001 per share; Issued and outstanding: nil preferred shares as of December 31, 2024 and June 30, 2024.			-				-
Common Stock Authorized: 250,000,000 common shares, par value of $0.001 per share; Issued and outstanding: 84,392,375 and 64,061,763 common shares as of December 31, 2024, and June 30, 2024, respectively			84,390				64,059
Additional paid-in capital			310,351,869				275,589,383
Common stock issuable			(1,415,806	)			(857,470	)
Accumulated deficit			(238,423,407	)			(213,328,332	)
Total stockholders’ equity			70,597,046				61,467,640
Total liabilities and stockholders’ equity		$	88,288,853			$	77,675,132

 

 

v3.25.0.1

Cover	Feb. 13, 2025
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Feb. 13, 2025
Entity File Number	001-41811
Entity Registrant Name	AMERICAN BATTERY TECHNOLOGY COMPANY
Entity Central Index Key	0001576873
Entity Tax Identification Number	33-1227980
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	100 Washington Street
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	Reno
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89503
City Area Code	(775)
Local Phone Number	473-4744
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, $0.001 par value
Trading Symbol	ABAT
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false

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