10-K Filing

5E ADVANCED MATERIALS, INC. CIK: 1888654 FY 2022

Filing Information

Form Type	10-K
Accession Number	`0001193125-22-253257`
Period End Date	20220630
Filing Date	20220928
Fiscal Year	2022
Fiscal Period	FY
XBRL Instance	d382761d10k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 51 Income Statement 46 Cash Flow Statement 66 Stockholders Equity 24

Balance Sheet 51 line items

Line Item	Tag	Value	Unit	Period
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	43.31M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	38.39M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$31.06M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$40.81M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.51M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$159.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$40.97M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$32.56M	USD	Point-in-time
Mineral rights and properties, net	`MineralPropertiesNet`	$8.36M	USD	Point-in-time
Mineral rights and properties, net	`MineralPropertiesNet`	$8.08M	USD	Point-in-time
Construction in progress	`ConstructionInProgress`	$12.77M	USD	Point-in-time
Construction in progress	`ConstructionInProgress`	$25.62M	USD	Point-in-time
Properties, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$1.50M	USD	Point-in-time
Properties, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$2.87M	USD	Point-in-time
Reclamation bond deposit	`ReclamationBondDeposit`	$1.09M	USD	Point-in-time
Reclamation bond deposit	`ReclamationBondDeposit`	$1.08M	USD	Point-in-time
Right of use asset	`OperatingLeaseRightOfUseAsset`	$213.00K	USD	Point-in-time
Right of use asset	`OperatingLeaseRightOfUseAsset`	$371.00K	USD	Point-in-time
Other assets	`OtherAssets`	-	USD	Point-in-time
Other assets	`OtherAssets`	$6.00K	USD	Point-in-time
Total Assets	`Assets`	$64.61M	USD	Point-in-time
Total Assets	`Assets`	$70.89M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$7.21M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.59M	USD	Point-in-time
Lease liabilities, current	`OperatingLeaseLiabilityCurrent`	$164.00K	USD	Point-in-time
Lease liabilities, current	`OperatingLeaseLiabilityCurrent`	$91.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.69M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.38M	USD	Point-in-time
Long-term debt	`LongTermDebt`	$93.00K	USD	Point-in-time
Long-term debt	`LongTermDebt`	$148.00K	USD	Point-in-time
Lease liability	`OperatingLeaseLiabilityNoncurrent`	$211.00K	USD	Point-in-time
Lease liability	`OperatingLeaseLiabilityNoncurrent`	$125.00K	USD	Point-in-time
Accrued reclamation liabilities	`AccruedReclamationCostsAndAssetRetirementObligationNonCurrent`	$489.00K	USD	Point-in-time
Accrued reclamation liabilities	`AccruedReclamationCostsAndAssetRetirementObligationNonCurrent`	$377.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$8.22M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.28M	USD	Point-in-time
Commitments and contingencies (Note 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock 43,305,315 and 38,391,412 shares outstanding at June 30, respectively	`CommonStockValue`	$433.00K	USD	Point-in-time
Common stock 43,305,315 and 38,391,412 shares outstanding at June 30, respectively	`CommonStockValue`	$384.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$101.18M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$169.59M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	-	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.42M	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-107.36M	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-40.65M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$35.49M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$62.66M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$62.33M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$70.89M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$64.61M	USD	Point-in-time

Income Statement 46 line items

Line Item	Tag	Value	Unit	Period
Project expenses	`ProjectExpenses`	$12.85M	USD	Annual
Project expenses	`ProjectExpenses`	$5.97M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$11.64M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$54.73M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$133.00K	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	-	USD	Annual
Depreciation expense	`DepreciationNonproduction`	$112.00K	USD	Annual
Depreciation expense	`DepreciationNonproduction`	$31.00K	USD	Annual
Total operating expenses	`OperatingExpenses`	$17.63M	USD	Annual
Total operating expenses	`OperatingExpenses`	$67.83M	USD	Annual
Income (loss) from operations	`OperatingIncomeLoss`	$-17.63M	USD	Annual
Income (loss) from operations	`OperatingIncomeLoss`	$-67.83M	USD	Annual
Other income	`OtherNonoperatingIncomeExpense`	$65.00K	USD	Annual
Other income	`OtherNonoperatingIncomeExpense`	$45.00K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$9.00K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$3.00K	USD	Annual
Interest expense	`InterestExpense`	$5.00K	USD	Annual
Interest expense	`InterestExpense`	$6.00K	USD	Annual
Net foreign exchange gain (loss)	`ForeignCurrencyTransactionGainLossRealized`	$-1.67M	USD	Annual
Net foreign exchange gain (loss)	`ForeignCurrencyTransactionGainLossRealized`	$1.06M	USD	Annual
Total non-operating income (expense)	`NonoperatingIncomeExpense`	$1.12M	USD	Annual
Total non-operating income (expense)	`NonoperatingIncomeExpense`	$-1.62M	USD	Annual
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-66.71M	USD	Annual
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-19.25M	USD	Annual
Current	`CurrentIncomeTaxExpenseBenefit`	-	USD	Annual
Current	`CurrentIncomeTaxExpenseBenefit`	-	USD	Annual
Deferred	`DeferredIncomeTaxExpenseBenefit`	-	USD	Annual
Deferred	`DeferredIncomeTaxExpenseBenefit`	-	USD	Annual
Total income tax provision (benefit)	`IncomeTaxExpenseBenefit`	-	USD	Annual
Total income tax provision (benefit)	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-66.71M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-19.25M	USD	Annual
Earnings Per Share, Basic	`EarningsPerShareBasic`	$-0.56	USD	Annual
Earnings Per Share, Basic	`EarningsPerShareBasic`	$-1.63	USD	Annual
Earnings Per Share, Diluted	`EarningsPerShareDiluted`	$-0.56	USD	Annual
Earnings Per Share, Diluted	`EarningsPerShareDiluted`	$-1.63	USD	Annual
Weighted Average Number of Shares Outstanding, Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	34.17M	shares	Annual
Weighted Average Number of Shares Outstanding, Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	40.81M	shares	Annual
Weighted Average Number of Shares Outstanding, Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	40.81M	shares	Annual
Weighted Average Number of Shares Outstanding, Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	34.17M	shares	Annual
Net income (loss)	`NetIncomeLoss`	$-66.71M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-19.25M	USD	Annual
Reporting currency translation gain (loss)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-1.42M	USD	Annual
Reporting currency translation gain (loss)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$1.92M	USD	Annual
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-17.34M	USD	Annual
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-68.13M	USD	Annual

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-66.71M	USD	Annual
Net loss	`NetIncomeLoss`	$-19.25M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$112.00K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$31.00K	USD	Annual
Interest earned on reclamation bond	`InterestEarnedOnReclamationBond`	$-1.00K	USD	Annual
Interest earned on reclamation bond	`InterestEarnedOnReclamationBond`	$-3.00K	USD	Annual
Share based compensation	`ShareBasedCompensation`	$6.70M	USD	Annual
Share based compensation	`ShareBasedCompensation`	$6.38M	USD	Annual
Common stock issued for consulting fees	`CommonStockIssuedForConsultingFees`	$-32.00K	USD	Annual
Common stock issued for consulting fees	`CommonStockIssuedForConsultingFees`	$-31.03M	USD	Annual
Accretion of reclamation liability	`AccretionOfReclamationLiability`	-	USD	Annual
Accretion of reclamation liability	`AccretionOfReclamationLiability`	$-9.00K	USD	Annual
Amortization of right of use asset	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$125.00K	USD	Annual
Amortization of right of use asset	`OperatingLeaseRightOfUseAssetAmortizationExpense`	-	USD	Annual
Net foreign exchange (gain) loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$1.06M	USD	Annual
Net foreign exchange (gain) loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-1.67M	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpensesOther`	$-16.00K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpensesOther`	$1.35M	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$2.53M	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$244.00K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$6.00K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	-	USD	Annual
Net cash used by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-10.89M	USD	Annual
Net cash used by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-28.61M	USD	Annual
Construction in progress	`PaymentsForConstructionInProgress`	$12.03M	USD	Annual
Construction in progress	`PaymentsForConstructionInProgress`	$9.99M	USD	Annual
Mineral rights and properties	`PaymentsToAcquireMineralRights`	$186.00K	USD	Annual
Mineral rights and properties	`PaymentsToAcquireMineralRights`	$113.00K	USD	Annual
Properties, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$39.00K	USD	Annual
Properties, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.22M	USD	Annual
Reclamation bonds	`PaymentsForReclamationBonds`	-	USD	Annual
Reclamation bonds	`PaymentsForReclamationBonds`	$777.00K	USD	Annual
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.40M	USD	Annual
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-12.96M	USD	Annual
Payments on note payable	`PaymentsOfDebtIssuanceCosts`	$2.00K	USD	Annual
Payments on note payable	`PaymentsOfDebtIssuanceCosts`	$112.00K	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$30.11M	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$26.31M	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$5.22M	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$9.24M	USD	Annual
Share issuance costs	`PaymentsOfStockIssuanceCosts`	$1.57M	USD	Annual
Share issuance costs	`PaymentsOfStockIssuanceCosts`	$797.00K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$37.77M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$30.62M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$13.92M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-9.39M	USD	Annual
Effect of exchange rate fluctuation on cash	`EffectOfExchangeRateFluctuationOnCash`	$-361.00K	USD	Annual
Effect of exchange rate fluctuation on cash	`EffectOfExchangeRateFluctuationOnCash`	$247.00K	USD	Annual
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$40.81M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$26.64M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$31.06M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$40.81M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$26.64M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$31.06M	USD	Point-in-time
Interest paid in cash	`InterestPaidNet`	$6.00K	USD	Annual
Interest paid in cash	`InterestPaidNet`	$3.00K	USD	Annual
Accounts payable change related to construction in progress	`AccountsPayableChangeRelatedToConstructionInProgressAdditions`	$-1.40M	USD	Annual
Accounts payable change related to construction in progress	`AccountsPayableChangeRelatedToConstructionInProgressAdditions`	$2.92M	USD	Annual
Construction in progress transferred to properties, plant and equipment	`ConstructionInProgressTransferredToPropertiesPlantAndEquipment`	$798.00K	USD	Annual
Construction in progress transferred to properties, plant and equipment	`ConstructionInProgressTransferredToPropertiesPlantAndEquipment`	$55.00K	USD	Annual
Recognition of operating lease liabilities and right of use assets	`RecognitionOfOperatingLeaseLiabilitiesAndRightOfUseAssets`	$237.00K	USD	Annual
Recognition of operating lease liabilities and right of use assets	`RecognitionOfOperatingLeaseLiabilitiesAndRightOfUseAssets`	$283.00K	USD	Annual
Notes payable issued for properties, plant and equipment	`NotesIssued1`	-	USD	Annual
Notes payable issued for properties, plant and equipment	`NotesIssued1`	$206.00K	USD	Annual
Increase (decrease) in asset retirement costs	`IncreaseDecreaseInAssetRetirementCosts`	-	USD	Annual
Increase (decrease) in asset retirement costs	`IncreaseDecreaseInAssetRetirementCosts`	$103.00K	USD	Annual

Stockholders Equity 24 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$35.49M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$62.66M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$62.33M	USD	Point-in-time
Cash, Shares	`StockIssuedDuringPeriodSharesNewIssues`	4.90M	shares	Annual
Cash, Shares	`StockIssuedDuringPeriodSharesNewIssues`	7.90M	shares	Annual
Cash	`StockIssuedDuringPeriodValueNewIssues`	$30.11M	USD	Annual
Cash	`StockIssuedDuringPeriodValueNewIssues`	$26.31M	USD	Annual
Exercise of stock options,Shares	`StockIssuedDuringPeriodSharesStockOptionsExercised`	2.80M	shares	Annual
Exercise of stock options,Shares	`StockIssuedDuringPeriodSharesStockOptionsExercised`	1.90M	shares	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$5.22M	USD	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$9.24M	USD	Annual
Consulting fees	`StockIssuedDuringPeriodValueIssuedForServices`	$31.03M	USD	Annual
Consulting fees	`StockIssuedDuringPeriodValueIssuedForServices`	$32.00K	USD	Annual
Shares issuance costs	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$797.00K	USD	Annual
Shares issuance costs	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$1.57M	USD	Annual
Share based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$6.38M	USD	Annual
Share based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$6.70M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-66.71M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-19.25M	USD	Annual
Other comprehensive income (loss), net of tax	`AccumulatedOtherComprehensiveIncomeLoss`	$-1.42M	USD	Annual
Other comprehensive income (loss), net of tax	`AccumulatedOtherComprehensiveIncomeLoss`	$1.92M	USD	Annual
Ending balance	`StockholdersEquity`	$35.49M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$62.66M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$62.33M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.