Ringrock
1 year ago
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 years ago
POWERVERDE, INC. : Entry into a Material Definitive Agreement, Financial Statements and Exhibits (form 8-K)
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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
11 years ago
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
11 years ago
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
Portman27
13 years ago
There's nothing to gain in manipulating the stock in this current situation.
If there's anyone out there that has an opinion about this, I would like to here what you have to say.
If you don't believe me just watch the stock for yourself. Watch what happens when the stock starts going down to meet the markets demand. Most of the time you can see the whole thing play out in one day. I have even seen it done over a couple of hours or within minutes. If the stock falls late in the day, watch what happens the next day.
We all know stocks move up and down according to market demand. What I'm seeing is the market demand driving the price down and then odd biding and/or buying/selling that stops the momentum and forces the price back to 2.00 dollars a share. Then it just stalls out at 2.00 dollars and the odd biding and buying/selling stops. When volume is really low like this stock is, it's much easier to see what's happening. It has become a predictable pattern.
I saw this happen a couple of times before but I convinced myself that sometimes strange and unpredictable things take place. I can see now thats definitely not the case at all here. If it happens a few times, ok.......no big deal. I've seen it happen so many times now. It's gotten to the point where anyone can see when it starts to happen. I've actually made money because of it. I saw the push to force the stock back up so I decide to jump the bid and throw in some money. It took four and a half minutes and I made 150.00 dollars. I know it isn't much but if I have to watch the stock anyways, I might as well make some money while I'm doing it. There was no risk, I knew darn well the stock would be forced right back up to 2.00 dollars.
I've been watching this stock really close for awhile now. Anytime this stock moves or has any activity I look to see whats going on. When I decide to reposition an investment in my portfolio I watch the stock like a day trader. I don't take my eyes off it until it's done or the opportunity has passed. If I hadn't been watching this stock so close I would not have noticed it.
Portman27
13 years ago
Important message to large stock holders of PowerVerde.
I have a serious complaint.
I have made comments about PowerVerdes true stock value on this message board already, so I won't go into great details about it here.
I will make a brief comment. This is a development company that has no revenue stream coming in right now. They are only spending money which increases debt. When you evaluate this company and plug in the variables and measure the current risk verses realistic gains you can see that this stock is presently over valued. The value of this stock is all based on speculation. Until something significant happens to increase it's value it's worth should be much lower than 2.00 dollars.
I have been watching this stock almost every day for quite sometime now. I have notice something that has happened too many times to be considered coincidence. This happened again just last Friday (8/19/11).
The Ask price is 2.10 and the Bid price is 1.82 for 10,000 shares. It stays like that for quite awhile. Then the Bid price comes up to 1.84 / 10,000 shares. Just sits there, a typical stand off. Then someone comes in and buys 11,000 shares for 2.00 dollars which forces the Bid prices up. Then the stock price stalls out again at 2.00 dollars. These events take place when the stock starts falling below 2.00 dollars. Why would somebody buy 11,000 shares at 2.00 dollars when you can get 10,000 at a 1.84 a share?
Every time stock prices start to fall something strange happens that stops the momentum and brings the price back up. I call them artificial anomalies. Large investors are stopping the stock from reaching it's true value which is much lower. They bid high so that others can't or won't compete with the bid. They also buy high to keep the stock inflated. When this is done it reduces the trading volume and in many cases it stops altogether. These artificial anomalies are designed to discourage investors from trading the stock at lower values.
This practice bothers me for a couple of reasons. I personally have been waiting a long time to finally see some volume moving on this stock. I have also been waiting patiently to reposition my shares. Because of the current market situation I've had countless opportunities to do so. I would have already accomplished this if you big guys would just leave it alone. This practice of artificially inflating and maintaining the stock reduces volume and discourages the smaller investors. So what if people want to sell. Others will buy. So what if the inflated stock goes down for awhile. It's only worth it's inflated price because you keep manipulating it. You above everyone else knows it's not worth that price anyways. This will allow smaller investors to have opportunities to buy in. This also allows you to pick up more shares below the current price. If investors want to sell, let them. In the end, who cares. If the company is as good as you think it is, then it won't matter down the road. That's why you have so many shares in the first place. Let us little guys do some trading. Lets come to a compromise. I want the stock to be left alone, free to move down. You want to see your stock at the current price until something happens to drive it up. Instead of driving the price back up every time it falls below 2.00 dollars, just do it every once in a while. Like every two weeks. You have better things to do then too maintain a 2.00 dollar inflated stock value while waiting to see if it pays off.
wittytitty
13 years ago
Of course it's alive!
As a founding shareholder, I continue to keep the faith. For SEC-imposed legal reasons, I won't discuss details of my association with the company other than to state that I'm not in the employ of PWVI nor do I receive any compensation from the company. I am merely a shareholder who came in via an offering. I've continued buying shares via the public market, steadily accumulating shares over the past two years plus. I continue to believe this stock is going to break out of its price channel and really take off, possibly within months.
The LOI acknowledges it is a "binding" LOI. My understanding from involvement with other companies and their stock is that there has likely been an exchange of funds in exchange for shares---on a non-refundable basis. Thus, it would appear that this little company is about to take off with signed contracted manufacturing obligations in place.
I see a potential for this being the opportunity of a lifetime. Mind you, I got into HDY at 25 cents and it is now above $5. I've been fortunate enough to have identified a few stocks like these over the years and they have contributed mightily to my life style and sense of well being.
All comments above are in my opinion only.
WT
Joel4802
13 years ago
PWVI - Is it alive? News:::
Form 8-K for POWERVERDE, INC.
4-Feb-2011
Entry into a Material Definitive Agreement, Financial Statements and Exhibits
Item 1.01 Entry into a Material Definitive Agreement.
On January 31, 2011, the Company entered into a Binding Letter of Intent for European Distribution (the "Letter of Intent") with Newton Investments BV, a Dutch corporation based in Leeuwarden, Netherlands ("Newton"). Pursuant to the Letter of Intent, the Company and Newton agreed to enter into a definitive agreement within 60 days, pursuant to which Newton will, for a period of 10 years, be the exclusive manufacturer and distributor of the Company's proprietary emissions-free electrical power generation systems (the "Systems") in the 27 countries which are currently members of the European Union, subject to Newton achieving minimum sales of at least 100 Systems per year and investing at least $750,000 in establishing its manufacturing facility and distribution network, as well as other terms and conditions set forth in the Letter of Intent.
The Company will receive as a royalty an amount equal to 20% of the gross sale price of each System sold by Newton. Newton also agreed to purchase an initial System from the Company for a price of $90,000. Also, pursuant to the Letter of Intent, an affiliate of Newton invested $250,000 in the Company by privately purchasing 333,333 restricted shares of the Company's common stock at a price of $.75 per share. In connection with this purchase, the Company issued to the investor a three-year warrant to buy an additional 333,333 shares at a price of $.75 per share. The definitive documentation will contain representations, covenants, conditions and indemnities which are customary for comparable transaction.
Prior to the date of the Letter of Intent, neither the Company nor any affiliate of the Company had any material relationship with Newton other than in respect of the negotiation of the Letter of Intent.
Joel4802
14 years ago
Powerverde CEO Letter - steady as she may go...
PowerVerde, Inc. Issues Letter to Shareholders
Date : 12/29/2009 @ 7:00AM
Source : Business Wire
Stock : PowerVerde, Inc. (PWVI)
Quote : 0.7 0.155 (28.44%) @ 8:14AM
PowerVerde, Inc. Issues Letter to Shareholders
PowerVerde, Inc. (OTCBB: PWVI) today issued the following letter to shareholders: Dear PowerVerde Shareholder, This is my first annual letter to you, and I want to begin by thanking everyone for their support and confidence in our Company and its progress during the past 12 months. Some of you have been shareholders since inception while others have purchased our stock after PowerVerde became a publicly traded company. Either way our collective goals are to see the commercialization of our renewable energy products, thus rewarding the shareholders, as well as helping to create an energy independent nation while emitting zero waste stream byproducts or carbon emissions
We began the year focusing on two separate products servicing three distinct markets: waste heat and solar energy recovery electrical generation systems; and natural gas pipeline powered electrical generation systems. Both products utilize PowerVerde’s proprietary pressure-driven motor technology, the primary difference being that the waste heat and solar recovery system expands a working fluid from waste heat or solar energy and the pipeline unit captures wasted pressure from the pumping stations used to move the natural gas across the nation. Both pressure-driven systems produce electricity, to be used by a business or home, or sold back into the electric grid
In the first quarter of 2009, PowerVerde entered into a cooperative relationship with Sopogy, a leader in solar thermal heat collection systems. We believe we are close to delivering our 25/50 PowerVerde ORC Solar System to the Keahole Solar power facility on the island of Hawaii. Solar thermal generated power is a major key to our country’s energy independence and a cornerstone to our Company’s development strategy. We are honored to have teamed up with Sopogy and look forward to combining our thermal power systems with their state of the art solar thermal collectors in order to extract clean energy from the sun. Within the first half of 2009 we built and began testing our first proto-type 100kw natural gas pipeline motor. This was constructed at Global Machine Works, an Arlington, Washington, aerospace machine and engineering facility. We continue to discuss the pipeline system with energy players such as public utilities and private pipeline service companies. Despite the complexities and challenges associated with delivering a natural gas pressure recovery system, we believe our patented technology is positioned to achieve commercial success. We are continuing our development efforts and hope to report positive news on testing and deployment opportunities. By the third quarter of this past year, we had begun testing our new 25/50 Solar and Heat Recovery system. In this waste heat recovery test application, the ORC powered system captures the wasted heat, a byproduct from a 198 HP diesel generator set. We continue to improve performance and manufacturing capabilities and hope to create a commercial system in 2010
Having addressed these markets and having built these electric power generation systems as well as actually operating and testing them, as demonstrated on our web-site www.PowerVerdeenergy.com, we have begun to establish certain service and qualified distribution partners in the final quarter of 2009. This is the beginning of a global strategy to find suitable purchasers and markets for our green renewable power generation systems
In closing and on behalf of our engineers, design and manufacturing people associated with PowerVerde we wish you a happy and prosperous New Year
Sincerely,George Konrad Founder and President
Joel4802
14 years ago
Additional information post news posted by Mick:
Here's the IHub link:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=43513626&txt2find=pwvi
The copy: (Nice company)
Off the Radar . ob
Posted by: mick Date: Thursday, November 12, 2009 3:55:23 PM
PWVI.OB - Nov 11, 2009 10:00 SmallCapSentinel.com: Green Energy Technology Report Released
SmallCapSentinel.com announces the release of a profile of emerging green energy company PowerVerde Inc. (OTCBB:PWVI), which will soon begin manufacturing totally green electrical power generation systems using a patented technology that has been five years in development. These new systems will never burn fossil fuels and the savings in greenhouse emissions are considerable. The profile is of interest to investors of alternative energy leaders First Solar (Nasdaq:FSLR), Cosan (NYSE:CZZ), China Sunergy Co., Ltd. (Nasdaq:CSUN), and Evergreen Solar Inc. (Nasdaq:ESLR). continued...
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Renee
2 years ago
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