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

Reno, Nev., Feb. 14, 2025 (GLOBE NEWSWIRE) — 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: 

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:

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.

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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.            
Preferred stock value            
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  


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