Montana Technologies Announces Second Quarter 2024 Results
Montana Technologies Announces Second Quarter 2024 Results
"Montana Technologies is making excellent progress towards commercialization of the AirJoule technology," said Matt Jore, Chief Executive Officer of Montana Technologies. "We are excited about our recently announced agreements with TenX and CIC to deploy AirJoule for water production. These novel applications illustrate the value that AirJoule can bring to improve water security and efficiency in a variety of use cases."RONAN, Mont., Aug. 23, 2024 (GLOBE NEWSWIRE) -- Montana Technologies Corporation (NASDAQ: AIRJ) ("Montana Technologies" or the "Company"), the developer of the transformational AirJoule technology for water generation, today announced its second quarter results.
蒙大拿州羅南，2024年8月23日（GLOBE NEWSWIRE）——變革性AirJoule發電技術的開發商蒙大拿科技公司（納斯達克股票代碼：AIRJ）（「蒙大拿科技」 或 「公司」）今天公佈了其第二季度業績。
2nd Quarter and Recent Highlights
第二季度及近期亮點
- Global MOU Announcements:
- United Arab Emirates: Announced agreement with TenX Investment ("TenX") to explore a deployment of AirJoule units in support of water security and sustainability projects in the United Arab Emirates
- Australia: Announced agreement with Climate Impact Corporation ("CIC") to collaborate on solar-powered hydrogen production using AirJoule technology in Australia
- Continued advancement towards commercialization of AirJoule applications in dehumidification and atmospheric water generation
- Commenced the build-out of a new operations facility in Newark, Delaware to house product engineering and an initial manufacturing line, along with office and meeting space for the expanded business development, engineering, and operations teams
- Completed $12 million private placement financing from new and existing investors
- Ended the quarter with $35 million of cash on the balance sheet and sufficient liquidity to support the Company's operations through expected commercialization in 2026
- 全球諒解備忘錄公告：
- 阿拉伯聯合酋長國：宣佈與TenX Investment（「TenX」）達成協議，探討部署AirJoule機組，以支持阿拉伯聯合酋長國的水安全和可持續發展項目
- 澳大利亞：宣佈與氣候影響公司（「CIC」）達成協議，在澳大利亞合作使用AirJoule技術生產太陽能氫氣
- AirJoule 在除溼和大氣水生成中的應用的商業化方面持續取得進展
- 開始在特拉華州紐瓦克建造一座新的運營設施，用於容納產品工程和初始生產線，併爲擴大的業務開發、工程和運營團隊提供辦公和會議空間
- 完成了來自新老投資者的1200萬美元私募融資
- 本季度末，資產負債表上有3500萬澳元的現金和充足的流動性，可通過預期的2026年商業化來支持公司的運營
Executive Commentary
行政評論
"Montana Technologies is making excellent progress towards commercialization of the AirJoule technology," said Matt Jore, Chief Executive Officer of Montana Technologies. "We are excited about our recently announced agreements with TenX and CIC to deploy AirJoule for water production. These novel applications illustrate the value that AirJoule can bring to improve water security and efficiency in a variety of use cases."
蒙大拿科技公司首席執行官馬特·喬爾表示：「蒙大拿科技在AirJoule技術的商業化方面取得了長足的進展。」「我們最近宣佈與TenX和CIC達成協議，部署AirJoule用於水生產，我們對此感到興奮。這些新穎的應用說明了AirJoule在各種用例中可以爲提高水安全和效率帶來的價值。」
Pat Eilers, Executive Chairman of Montana Technologies, added, "With our newly expanded business development and operations teams, we are keenly focused on engaging with prospective customers from myriad industries who recognize the immense value from the industry-leading dehumidification and water production capabilities of AirJoule."
蒙大拿科技執行董事長帕特·艾勒斯補充說：「通過我們新擴大的業務開發和運營團隊，我們專注於與來自各行各業的潛在客戶互動，他們認識到AirJoule行業領先的除溼和水生產能力所帶來的巨大價值。」
Parallel Commercialization Priorities
平行商業化優先事項
AirJoule transforms humid air into dehumidified air and pure distilled water. Through the same technology and process, AirJoule provides both advanced dehumidification and atmospheric water generation capabilities for use in a variety of customer applications.
AirJoule 將潮溼的空氣轉化爲除溼空氣和純蒸餾水。通過相同的技術和工藝，AirJoule 提供先進的除溼和大氣水生成能力，可用於各種客戶應用。
Dehumidification
除溼
When utilized for moisture removal in an air conditioning system, AirJoule can provide significant energy efficiency benefits through lower power consumption compared to conventional moisture removal through condensation. The Company is working closely with its HVAC commercialization partners at Carrier Corporation ("Carrier") on an AirJoule product with a form factor that can remove moisture for a Carrier light commercial system and reduce power consumption. Ultimately, the Company expects to integrate the AirJoule technology into a full Carrier system, which would reduce further reduce power consumption, operating expenses, and scope 2 emissions for customers.
與傳統的冷凝除溼氣相比，當用於空調系統中的水分去除時，AirJoule可以通過更低的功耗提供顯著的能源效率優勢。該公司正在與開利公司（「開利」）的暖通空調商業化合作夥伴密切合作，開發一款AirJoule產品，該產品的外形可以去除開利輕型商用系統的水分並降低功耗。最終，該公司預計將AirJoule技術集成到完整的Carrier系統中，這將進一步減少客戶的功耗、運營費用和範圍2排放。
Water production
水產量
AirJoule's atmospheric water harvesting capabilities far exceed the performance of other competing technologies. The Company is engaging with prospective customers on use cases where AirJoule can reduce costs or improve industrial processes through its advanced water harvesting capacity. Water usage is increasingly an area of focus for businesses in a wide variety of industries, including agriculture, manufacturing, and data centers.
AirJoule的大氣蓄水能力遠遠超過其他競爭技術的性能。該公司正在與潛在客戶就AirJoule通過其先進的集水能力降低成本或改善工業流程的用例進行接觸。水的使用越來越成爲包括農業、製造業和數據中心在內的各行各業企業關注的領域。
In August 2024, the Company announced two agreements for the deployment of AirJoule for water production in water-scarce regions of the world:
2024 年 8 月，該公司宣佈了兩項協議，在世界缺水地區部署 AirJoule 用於水的生產：
- The Company signed a Memorandum of Understanding ("MOU") with Dubai-based TenX to leverage AirJoule's water harvesting capabilities to enhance water security and energy sustainability in the United Arab Emirates. The Company and TenX will explore options to deploy AirJoule units with initial installations focused on critical infrastructure and community water needs.
- The Company is collaborating with Australia-based CIC on the development of their solar-powered hydrogen production modules. Using AirJoule to supply water through atmospheric water harvesting, CIC's modular hydrogen production units will seek to produce green hydrogen using Australia's plentiful solar resources. This collaboration is the first step towards deploying AirJoule to support renewable hydrogen production in the medium term.
- 該公司與總部位於迪拜的TenX簽署了諒解備忘錄（「諒解備忘錄」），以利用AirJoule的集水能力來增強阿拉伯聯合酋長國的水安全和能源可持續性。該公司和TenX將探索部署AirJoule裝置的備選方案，其初始安裝重點是關鍵基礎設施和社區用水需求。
- 該公司正在與總部位於澳大利亞的CIC合作開發其太陽能氫氣生產模塊。CIC的模塊化氫氣生產裝置使用AirJoule通過收集大氣中的水來供水，將尋求利用澳大利亞豐富的太陽能資源生產綠色氫氣。此次合作是部署AirJoule以支持中期可再生氫氣生產的第一步。
Expansion of Business Development and Operations Teams
擴大業務開發和運營團隊
During the second quarter, the Company expanded its business development and operations teams with the hiring of several key personnel reporting to Bryan Barton, Chief Commercialization Officer of Montana Technologies. These new hires include:
在第二季度，公司擴大了業務開發和運營團隊，僱用了幾名向蒙大拿科技首席商業化官布萊恩·巴頓彙報的關鍵人員。這些新員工包括：
- Matt Grandbois, VP of Business Development
- Jonathan Tracy, VP of Operations
- Kunjan Khambhati, VP of Supply Chain
- Hao Huang, Senior R&D Leader
- Bobby Carbonell, Innovation & Project Leader
- Matt Olsen, Applications Engineering Leader
- Matt Grandbois，業務發展副總裁
- 喬納森·特雷西，運營副總裁
- Kunjan Khambhati，供應鏈副總裁
- 黃浩，高級研發負責人
- Bobby Carbonell，創新與項目負責人
- 馬特·奧爾森，應用工程負責人
Initial Manufacturing Facility in Newark, DE
位於特拉華州紐瓦克的初始製造工廠
In June, our joint venture with GE Vernova commenced buildout for a 30,000 square foot facility in Newark, DE which will include product engineering and the initial manufacturing line for MOF-coated contactors and pre-production AirJoule units. The facility also includes administrative space for the recently expanded business development and operations teams. In support of this expansion, the State of Delaware approved a grant for up to $1.0 million to support the development of the facility and the hiring of additional personnel. The initial manufacturing line is expected to be operational in mid-2025.
6月，我們與GE Vernova的合資企業開始在特拉華州紐瓦克建造一座佔地30,000平方英尺的工廠，其中包括產品工程和MOF塗層接觸器和預生產的AirJoule裝置的初始製造線。該設施還包括爲最近擴大的業務開發和運營團隊提供管理空間。爲了支持此次擴建，特拉華州批准了高達100萬美元的撥款，以支持該設施的開發和額外人員的招聘。最初的生產線預計將在2025年中期投入運營。
Private Placement Financing
私募融資
On June 11, 2024, the Company announced the completion of a private placement financing with new and existing investors, through which it issued approximately 1.2 million shares for gross proceeds of approximately $12 million. The proceeds are being used to support the commercialization of the AirJoule system.
2024年6月11日，公司宣佈完成與新老投資者的私募融資，通過該融資，該公司發行了約120萬股股票，總收益約爲1200萬美元。所得款項將用於支持AirJoule系統的商業化。
Quarterly Report on Form 10-Q
10-Q 表季度報告
Montana Technologies' financial statements and related footnotes are available in its Quarterly Report on Form 10-Q for the quarter ended June 30, 2024, which was filed with the Securities and Exchange Commission ("SEC") on August 23, 2024. The financial statements reflect a change in accounting treatment for the Company's investment in the joint venture with GE Vernova. As described in a Form 8-K filed with the SEC on August 13, 2024, the Company determined, through a consultation process with the SEC, that it should use the equity method to account for its investment in the joint venture. Additionally, the Company has restated its financial statements for the quarter ended March 31, 2024, in a Form 10-Q/A filed with the SEC on August 23, 2024.
蒙大拿科技的財務報表和相關腳註可在截至2024年6月30日的季度10-Q表季度報告中查閱，該報告於2024年8月23日向美國證券交易委員會（「SEC」）提交。財務報表反映了公司對與通用電氣Vernova合資企業的投資會計處理方式的變化。正如2024年8月13日向美國證券交易委員會提交的8-k表格中所述，該公司通過與美國證券交易委員會的磋商決定，應使用股權法來覈算其對合資企業的投資。此外，該公司在2024年8月23日向美國證券交易委員會提交的10-Q/A表格中重報了截至2024年3月31日的季度財務報表。
Earnings Call Webcast
業績電話會議網絡直播
Montana Technologies has provided investors with an earnings call webcast. Interested parties may view the webcast by visiting the investor section of the Montana Technologies website at and clicking on the webcast link.
蒙大拿科技爲投資者提供了業績電話會議網絡直播。有興趣的人士可以通過訪問蒙大拿州科技公司的投資者部分來觀看網絡直播，網址爲：並點擊網絡直播鏈接。
About Montana Technologies Corporation
蒙大拿科技公司簡介
Montana Technologies Corporation (NASDAQ: AIRJ) is the developer of AirJoule, an atmospheric thermal energy and water harvesting technology that provides efficient and sustainable air dehumidification and pure water from air. Designed to reduce energy consumption and generate material cost efficiencies, AirJoule is being commercialized through a joint venture with GE Vernova and through partnerships with Carrier Global Corporation and BASF. For more information, visit .
蒙大拿科技公司（納斯達克股票代碼：AIRJ）是AirJoule的開發商，AirJoule是一種大氣熱能和水收集技術，可提供高效、可持續的空氣除溼和空氣中的純淨水。AirJoule旨在減少能耗和提高材料成本效率，正在通過與GE Vernova的合資企業以及與開利環球公司和巴斯夫的合作實現商業化。欲了解更多信息，請訪問。
Forward Looking Statements
前瞻性陳述
The information in this press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding Montana Technologies and its future financial and operational performance, as well as its strategy, future operations, estimated financial position, estimated revenues, and losses, projected costs, prospects, plans and objectives of management are forward looking statements. When used in this press release, including any oral statements made in connection therewith, the words "could," "may," "will," "should," "anticipate," "believe," "intend," "estimate," "expect," "project," the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management's current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Montana Technologies expressly disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements herein, to reflect events or circumstances after the date of this press release.
本新聞稿中的信息包括經修訂的1933年《證券法》第27A條和經修訂的1934年《證券交易法》第21E條所指的 「前瞻性陳述」。除本新聞稿中包含的當前或歷史事實陳述外，所有關於蒙大拿科技及其未來財務和運營業績，以及其戰略、未來運營、估計財務狀況、估計收入和虧損、預計成本、前景、計劃和管理目標的聲明，均爲前瞻性陳述。在本新聞稿中，包括與之相關的任何口頭陳述時，「可以」、「可能」、「將」、「應該」、「預測」、「相信」、「打算」、「估計」、「預期」、「項目」 等詞語，此類條款的否定詞和其他類似表述旨在識別前瞻性陳述，儘管並非所有前瞻性陳述都包含此類識別詞。這些前瞻性陳述基於管理層當前對未來事件的預期和假設，並基於有關未來事件結果和時間的現有信息。除非適用法律另有要求，否則Montana Technologies明確表示不承擔更新任何前瞻性陳述以反映本新聞稿發佈之日之後的事件或情況的責任，這些陳述均受本聲明的明確限制。
Montana Technologies cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond Montana Technology's control. These risks include, but are not limited to, our status as an early stage Company with limited operating history, which may make it difficult to evaluate the prospects for our future viability; our initial dependence on revenue generated from a single product; significant barriers we face to deploy our technology; the dependence of our commercialization strategy on our relationships with BASF, CATL, Carrier, GE Vernova, and other third parties history of losses, and the other risks and uncertainties described under the heading "Risk Factors" in our SEC filings including in our Registration Statement (See Risk Factors) on Form S-1 filed with the Securities and Exchange Commission (the "SEC") on June 27, 2024. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Should one or more of the risks or uncertainties described in this press release occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Montana Technologies' SEC Filings are available publicly on the SEC's website at www.sec.gov, and readers are urged to carefully review and consider the various disclosures made in such filings.
蒙大拿科技提醒您，這些前瞻性陳述存在許多風險和不確定性，其中大多數難以預測，其中許多是蒙大拿科技無法控制的。這些風險包括但不限於我們作爲一家運營歷史有限的早期公司的地位；這可能使我們難以評估未來的生存前景；我們最初對單一產品收入的依賴；我們在部署技術時面臨的重大障礙；我們的商業化戰略對我們與巴斯夫、CATL、開利、通用電氣Vernova和其他第三方的關係的依賴以及下文所述的其他風險和不確定性我們在美國證券交易委員會文件中的標題 「風險因素」包括我們在2024年6月27日向美國證券交易委員會（「SEC」）提交的S-1表格的註冊聲明（見風險因素）中。鑑於這些風險和不確定性，提醒讀者不要過分依賴此類前瞻性陳述。如果本新聞稿中描述的一種或多種風險或不確定性發生，或者基本假設被證明不正確，則實際結果和計劃可能與任何前瞻性陳述中表達的結果和計劃存在重大差異。蒙大拿科技的美國證券交易委員會文件可在美國證券交易委員會的網站www.sec.gov上公開發布，並敦促讀者仔細審查和考慮此類文件中披露的各種信息。
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MONTANA TECHNOLOGIES CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) | ||||||||
| June 30, | December 31, | |||||||
| 2024 | 2023 | |||||||
| Assets | ||||||||
| Current assets | ||||||||
| Cash | $ | 34,648,611 | $ | 375,796 | ||||
| Prepaid expenses and other current assets | 1,307,501 | 126,971 | ||||||
| Total current assets | 35,956,112 | 502,767 | ||||||
| Operating lease right-of-use asset | 162,476 | 49,536 | ||||||
| Property and equipment, net | 8,085 | 3,832 | ||||||
| Investment in AirJoule, LLC | 342,892,830 | — | ||||||
| Total assets | $ | 379,019,503 | $ | 556,135 | ||||
| Liabilities and Stockholders' equity (deficit) | ||||||||
| Current liabilities | ||||||||
| Accounts payable | $ | 768,438 | $ | 2,518,763 | ||||
| Accrued transaction fees | 50,000 | 3,644,100 | ||||||
| Other accrued expenses | 2,275,904 | 244,440 | ||||||
| Operating lease liability, current | 25,368 | 22,237 | ||||||
| True Up Shares liability | 422,000 | — | ||||||
| Total current liabilities | 3,541,710 | 6,429,540 | ||||||
| Earnout Shares liability | 48,329,000 | — | ||||||
| Subject Vesting Shares liability | 12,458,000 | — | ||||||
| Operating lease liability, non-current | 139,999 | 27,299 | ||||||
| Deferred tax liability | 84,487,339 | — | ||||||
| Total liabilities | $ | 148,956,048 | $ | 6,456,839 | ||||
| Commitments and contingencies (Note 12) | ||||||||
| Stockholders' equity (deficit) | ||||||||
| Preferred stock, $0.0001 par value; 25,000,000 authorized shares and 0 shares issued and outstanding as of June 30, 2024 and December 31, 2023 | $ | — | $ | — | ||||
| Class A Common stock, $0.0001 par value; 600,000,000 authorized shares and 51,016,028 and 32,731,583 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively | 5,110 | 3,274 | ||||||
| Class B Common stock, $0.0001 par value; 50,000,000 authorized shares and 4,759,642 shares issued and outstanding as of June 30, 2024 and December 31, 2023 | 476 | 476 | ||||||
| Additional paid-in capital | 52,240,783 | 11,263,647 | ||||||
| Retained earnings (accumulated deficit) | 177,817,086 | (17,168,101) | ||||||
| Total stockholders' equity (deficit) | 230,063,455 | (5,900,704) | ||||||
| Total liabilities and stockholders' equity (deficit) | $ | 379,019,503 | $ | 556,135 | ||||
| 蒙大拿州科技公司 簡明合併資產負債表（未經審計） | ||||||||
| 6月30日 | 十二月三十一日 | |||||||
| 2024 | 2023 | |||||||
| 資產 | ||||||||
| 流動資產 | ||||||||
| 現金 | $ | 34,648,611 | $ | 375,796 | ||||
| 預付費用和其他流動資產 | 1,307,501 | 126,971 | ||||||
| 流動資產總額 | 35,956,112 | 502,767 | ||||||
| 經營租賃使用權資產 | 162,476 | 49,536 | ||||||
| 財產和設備，淨額 | 8,085 | 3,832 | ||||||
| 投資AirJoule, LLC | 342,892,830 | — | ||||||
| 總資產 | $ | 379,019,503 | $ | 556,135 | ||||
| 負債和股東權益（赤字） | ||||||||
| 流動負債 | ||||||||
| 應付賬款 | $ | 768,438 | $ | 2,518,763 | ||||
| 應計交易費 | 5萬個 | 3,644,100 | ||||||
| 其他應計費用 | 2,275,904 | 244,440 | ||||||
| 經營租賃負債，當前 | 25,368 | 22,237 | ||||||
| True Up 股票負債 | 422,000 | — | ||||||
| 流動負債總額 | 3,541,710 | 6,429,540 | ||||||
| 盈利股份負債 | 48,329,000 | — | ||||||
| 主體歸屬股份負債 | 12,458,000 | — | ||||||
| 經營租賃負債，非當期 | 139,999 | 27,299 | ||||||
| 遞延所得稅負債 | 84,487,339 | — | ||||||
| 負債總額 | $ | 148,956,048 | $ | 6,456,839 | ||||
| 承付款和或有開支（注12） | ||||||||
| 股東權益（赤字） | ||||||||
| 優先股，面值0.0001美元；截至2024年6月30日和2023年12月31日，已發行和流通的25,000,000股授權股票和0股 | $ | — | $ | — | ||||
| A類普通股，面值0.0001美元；截至2024年6月30日和2023年12月31日，分別爲600,000,000股授權股以及51,016,028股和32,731,583股已發行和流通股票 | 5,110 | 3,274 | ||||||
| b 類普通股，面值0.0001美元；截至2024年6月30日和2023年12月31日，已發行和流通的5000萬股授權股票和4,759,642股股票 | 476 | 476 | ||||||
| 額外的實收資本 | 52,240,783 | 11,263,647 | ||||||
| 留存收益（累計赤字） | 177,817,086 | (17,168,101) | ||||||
| 股東權益總額（赤字） | 230,063,455 | (5,900,704) | ||||||
| 負債和股東權益總額（赤字） | $ | 379,019,503 | $ | 556,135 | ||||
|
MONTANA TECHNOLOGIES CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) | ||||||||||||||||
|
Three Months Ended June 30, |
Six Months Ended June 30, |
|||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Costs and expenses: | ||||||||||||||||
| General and administrative | $ | 3,211,205 | $ | 1,813,014 | $ | 4,024,444 | $ | 2,031,189 | ||||||||
| Research and development | 1,050,804 | 1,099,143 | 1,896,961 | 1,704,087 | ||||||||||||
| Sales and marketing | 74,841 | 128,153 | 112,566 | 138,576 | ||||||||||||
| Transaction costs incurred in connection with business combination | — | — | 54,693,103 | — | ||||||||||||
| Depreciation and amortization | 1,216 | 1,085 | 2,301 | 2,170 | ||||||||||||
| Loss from operations | (4,338,066) | (3,041,395) | (60,729,375) | (3,876,022) | ||||||||||||
| Other income, net: | ||||||||||||||||
| Interest income | 216,480 | 3,551 | 242,626 | 3,551 | ||||||||||||
| Gain on contribution to AirJoule, LLC | — | — | 333,500,000 | — | ||||||||||||
| Equity loss from investment in AirJoule, LLC | (580,788) | — | (607,170) | — | ||||||||||||
| Change in fair value of Earnout Shares liability | 13,064,000 | — | 5,392,000 | — | ||||||||||||
| Change in fair value of True Up Shares liability | (136,000) | — | 133,000 | — | ||||||||||||
| Change in fair value of Subject Vesting Shares | 1,759,000 | — | (666,000) | — | ||||||||||||
| Gain on settlement of legal fees | 2,207,445 | — | 2,207,445 | — | ||||||||||||
| Total other income (expenses), net | 16,530,137 | 3,551 | 340,201,901 | 3,551 | ||||||||||||
| Income (loss) before income taxes | 12,192,071 | (3,037,844) | 279,472,526 | (3,872,471) | ||||||||||||
| Income tax benefit (expense) | 1,237,824 | — | (84,487,339) | — | ||||||||||||
| Net income (loss) | $ | 13,429,895 | $ | (3,037,844) | $ | 194,985,187 | $ | (3,872,471) | ||||||||
| Weighted average Class A common stock outstanding, basic | 49,560,529 | 32,667,171 | 43,357,928 | 32,633,380 | ||||||||||||
| Basic net income (loss) per share, Class A common stock | $ | 0.25 | $ | (0.08) | $ | 4.05 | $ | (0.10) | ||||||||
| Weighted average Class A common stock outstanding, diluted | 51,358,716 | 32,667,171 | 44,995,234 | 32,633,380 | ||||||||||||
| Diluted net income (loss), per share, Class A common stock | $ | 0.24 | (0.08) | $ | 3.92 | $ | (0.10) | |||||||||
| Weighted average Class B common stock outstanding, basic and diluted | 4,759,642 | 4,759,642 | 4,759,642 | 4,759,642 | ||||||||||||
| Basic net income (loss) per share, Class B common stock | $ | 0.25 | $ | (0.08) | $ | 4.05 | $ | (0.10) | ||||||||
| Diluted net income (loss) per share, Class B common stock | $ | 0.24 | (0.08) | $ | 3.92 | (0.10) | ||||||||||
| 蒙大拿州科技公司 簡明合併運營報表（未經審計） | ||||||||||||||||
| 三個月已結束 6月30日 |
六個月已結束 6月30日 |
|||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| 成本和支出： | ||||||||||||||||
| 一般和行政 | $ | 3,211,205 | $ | 1,813,014 | $ | 4,024,444 | $ | 2,031,189 | ||||||||
| 研究和開發 | 1,050,804 | 1,099,143 | 1,896,961 | 1,704,087 | ||||||||||||
| 銷售和營銷 | 74,841 | 128,153 | 112,566 | 138,576 | ||||||||||||
| 與業務合併相關的交易成本 | — | — | 54,693,103 | — | ||||||||||||
| 折舊和攤銷 | 1,216 | 1,085 | 2,301 | 2,170 | ||||||||||||
| 運營損失 | (4,338,066) | (3,041,395) | (60,729,375) | (3,876,022) | ||||||||||||
| 其他收入，淨額： | ||||||||||||||||
| 利息收入 | 216,480 | 3,551 | 242,626 | 3,551 | ||||||||||||
| 向AirJoule, LLC捐款的收益 | — | — | 333,500,000 | — | ||||||||||||
| 投資AirJoule, LLC造成的股權損失 | (580,788) | — | (607,170) | — | ||||||||||||
| Earnout Shares負債公允價值的變化 | 13,064,000 | — | 5,392,000 | — | ||||||||||||
| True Up Shares負債公允價值的變化 | (136,000) | — | 133,000 | — | ||||||||||||
| 標的歸屬股份公允價值的變動 | 1,759,000 | — | (666,000) | — | ||||||||||||
| 結算律師費的收益 | 2,207,445 | — | 2,207,445 | — | ||||||||||||
| 其他收入（支出）總額，淨額 | 16,530,137 | 3,551 | 340,201,901 | 3,551 | ||||||||||||
| 所得稅前收入（虧損） | 12,192,071 | (3,037,844) | 279,472,526 | (3,872,471) | ||||||||||||
| 所得稅優惠（費用） | 1,237,824 | — | (84,487,339) | — | ||||||||||||
| 淨收益（虧損） | $ | 13,429,895 | $ | (3,037,844) | $ | 194,985,187 | $ | (3,872,471) | ||||||||
| 已發行A類普通股的加權平均值，基本 | 49,560,529 | 32,667,171 | 43,357,928 | 32,633,380 | ||||||||||||
| A類普通股每股基本淨收益（虧損） | $ | 0.25 | $ | (0.08) | $ | 4.05 | $ | (0.10) | ||||||||
| 已發行A類普通股的加權平均值，攤薄 | 51,358,716 | 32,667,171 | 44,995,234 | 32,633,380 | ||||||||||||
| 攤薄後的每股淨收益（虧損），A類普通股 | $ | 0.24 | (0.08) | $ | 3.92 | $ | (0.10) | |||||||||
| 已發行基本和攤薄後的b類普通股的加權平均值 | 4,759,642 | 4,759,642 | 4,759,642 | 4,759,642 | ||||||||||||
| b類普通股每股基本淨收益（虧損） | $ | 0.25 | $ | (0.08) | $ | 4.05 | $ | (0.10) | ||||||||
| 稀釋後的每股淨收益（虧損），b類普通股 | $ | 0.24 | (0.08) | $ | 3.92 | (0.10) | ||||||||||
|
MONTANA TECHNOLOGIES CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) | ||||||||
|
For the Six Months Ended June 30, |
||||||||
| 2024 | 2023 | |||||||
| Cash Flows from Operating Activities | ||||||||
| Net income (loss) | $ | 194,985,187 | $ | (3,872,471) | ||||
| Adjustment to reconcile net income (loss) to cash used in operating activities: | ||||||||
| Depreciation and amortization | 2,301 | 2,170 | ||||||
| Deferred tax expense | 84,487,339 | — | ||||||
| Amortization of operating lease right-of-use assets | 59,709 | 10,483 | ||||||
| Change in fair value of Earnout Shares liability | (5,392,000) | — | ||||||
| Change in fair value of True Up Shares liability | (133,000) | — | ||||||
| Change in fair value of Subject Vesting Shares liability | 666,000 | — | ||||||
| Gain on contribution to AirJoule, LLC | (333,500,000) | — | ||||||
| Equity loss from investment in AirJoule, LLC | 607,170 | — | ||||||
| Non-cash transaction costs in connection with business combination | 53,721,000 | — | ||||||
| Gain on settlement of legal fees | (2,207,445) | — | ||||||
| Share-based compensation | 150,519 | 52,000 | ||||||
| Changes in operating assets and liabilities: | ||||||||
| Prepaid expenses and other assets | (806,153) | (100,733) | ||||||
| Operating lease liabilities | (56,818) | (10,483) | ||||||
| Accounts payable | (3,157,317) | 121,883 | ||||||
| Due to related party | (1,440,000) | — | ||||||
| Accrued expenses, accrued transaction costs and other liabilities | (5,563,053) | 1,940,339 | ||||||
| Net cash used in operating activities | (17,576,561) | (1,856,812) | ||||||
| Cash Flows from Investing Activities | ||||||||
| Purchases of fixed assets | (6,554) | (96,025) | ||||||
| Investment in AirJoule, LLC | (10,000,000) | — | ||||||
| Net cash used in investing activities | (10,006,554) | (96,025) | ||||||
| Cash Flows from Financing Activities | ||||||||
| Proceeds from the exercise of warrants | 45,760 | 8,580 | ||||||
| Proceeds from the exercise of options | 60,170 | — | ||||||
| Proceeds from the issuance of common stock pursuant to subscription agreements | 61,750,000 | — | ||||||
| Issuance of preferred units | — | 255,861 | ||||||
| Net cash provided by financing activities | 61,855,930 | 264,441 | ||||||
| Net increase (decrease) in cash | 34,272,815 | (1,688,396) | ||||||
| Cash, beginning of period | 375,796 | 5,211,486 | ||||||
| Cash, end of the period | $ | 34,648,611 | $ | 3,523,090 | ||||
| Supplemental Non-Cash investing and financing activities: | ||||||||
| Initial recognition of True Up Shares liability | $ | 555,000 | $ | — | ||||
| Initial recognition of Subject Vesting Shares liability | $ | 11,792,000 | $ | — | ||||
| Initial recognition of ROU asset and operating lease liability | $ | 172,649 | $ | — | ||||
| Liabilities combined in recapitalization, net | $ | 8,680,477 | $ | — | ||||
| Contribution to AirJoule, LLC of license to technology | $ | 333,500,000 | $ | — | ||||
| Supplemental Cash flow information: | ||||||||
| Taxes paid | $ | — | $ | — | ||||
| 蒙大拿州科技公司 簡明合併現金流量表（未經審計） | ||||||||
| 在結束的六個月中 6月30日 |
||||||||
| 2024 | 2023 | |||||||
| 來自經營活動的現金流 | ||||||||
| 淨收益（虧損） | $ | 194,985,187 | $ | (3,872,471) | ||||
| 調整淨收益（虧損）與經營活動中使用的現金： | ||||||||
| 折舊和攤銷 | 2,301 | 2,170 | ||||||
| 遞延所得稅支出 | 84,487,339 | — | ||||||
| 經營租賃使用權資產的攤銷 | 59,709 | 10,483 | ||||||
| Earnout Shares負債公允價值的變化 | (5,392,000) | — | ||||||
| True Up Shares負債公允價值的變化 | (133,000) | — | ||||||
| 標的歸屬股份負債公允價值的變化 | 666,000 | — | ||||||
| 向AirJoule, LLC捐款的收益 | (333,500,000) | — | ||||||
| 投資AirJoule, LLC造成的股權損失 | 607,170 | — | ||||||
| 與業務合併相關的非現金交易成本 | 53,721,000 | — | ||||||
| 結算律師費的收益 | (2,207,445) | — | ||||||
| 基於股份的薪酬 | 150,519 | 52,000 | ||||||
| 運營資產和負債的變化： | ||||||||
| 預付費用和其他資產 | (806,153) | (100,733) | ||||||
| 經營租賃負債 | (56,818) | (10,483) | ||||||
| 應付賬款 | (3,157,317) | 121,883 | ||||||
| 由於關聯方 | (1,440,000) | — | ||||||
| 應計費用、應計交易成本和其他負債 | (5,563,053) | 1,940,339 | ||||||
| 用於經營活動的淨現金 | (17,576,561) | (1,856,812) | ||||||
| 來自投資活動的現金流 | ||||||||
| 購買固定資產 | (6,554) | (96,025) | ||||||
| 投資AirJoule, LLC | (10,000,000) | — | ||||||
| 用於投資活動的淨現金 | (10,006,554) | (96,025) | ||||||
| 來自融資活動的現金流 | ||||||||
| 行使認股權證的收益 | 45,760 | 8,580 | ||||||
| 行使期權的收益 | 60,170 | — | ||||||
| 根據認購協議發行普通股的收益 | 61,750,000 | — | ||||||
| 發行優先單位 | — | 255,861 | ||||||
| 融資活動提供的淨現金 | 61,855,930 | 264,441 | ||||||
| 現金淨增加（減少） | 34,272,815 | (1,688,396) | ||||||
| 現金，期初 | 375,796 | 5,211,486 | ||||||
| 現金，期末 | $ | 34,648,611 | $ | 3,523,090 | ||||
| 補充非現金投資和融資活動： | ||||||||
| 初步確認True Up Shares的負債 | $ | 555,000 | $ | — | ||||
| 標的歸屬股份負債的初步確認 | $ | 11,792,000 | $ | — | ||||
| ROU 資產和經營租賃負債的初始確認 | $ | 172,649 | $ | — | ||||
| 資本重組後的負債總額，淨額 | $ | 8,680,477 | $ | — | ||||
| 向AirJoule, LLC提供技術許可的捐款 | $ | 333,500,000 | $ | — | ||||
| 補充現金流信息： | ||||||||
| 已繳稅款 | $ | — | $ | — | ||||
Contacts
聯繫人
Investor Relations:
Tom Divine – Vice President, Investor Relations and Finance
investors@mt.energy
投資者關係：
Tom Divine — 投資者關係和財務副總裁
investors@mt.energy
Media:
media@mt.energy
媒體：
media@mt.energy
