What the changes say
- Substantial doubt about going concern and urgent need for financing dominate ABAT risks.
- Scaling unproven lithium recycling facilities and mineral extraction near Tonopah creates execution risk.
- Feedstock sourcing and benchmark metal price volatility threaten commercial viability.
What changed since the prior 10-K
New
- NewRisks Relating to Our Business
There is substantial doubt about our ability to continue as a going concern and to achieve or sustain profitability
Independent auditors and management express substantial doubt about our ability to continue as a going concern within 12 months.
- NewRisks Relating to Our Business
We may require significant additional financing within the next 12 months to fund operations and develop our recycling, extraction, and refining facilities, but there is no assurance such capital will be available on acceptable terms, or at all, which could jeopardize our business plan and continued operations
We require significant additional financing within 12 months via equity, debt, grants, or loans to fund operations and develop facilities.
- NewRisks Relating to Our Business
We may face challenges in executing our growth strategy and effectively managing any expansion. Strategic transactions we pursue could be disruptive, result in shareholder dilution, or otherwise negatively impact our operations
Scaling our proprietary lithium-ion battery recycling process and developing our mineral resource near Tonopah, Nevada involves unproven operational risks.
- NewRisks Relating to Our Business
Our ability to source, recover, and recycle lithium-ion battery materials in an economical and efficient manner may be limited, which could affect our ability to meet market demand
Securing adequate spent lithium-ion batteries and feedstock at viable prices is subject to external factors beyond our control.
- NewRisks Relating to Our Business
If we are unable to continue to operate our recycling facility and improve efficiency, our business could be materially harmed. Our operations depend on the continued performance and availability of our recycling facilities, as well as on securing sufficient feedstock
We must operate our McCarran, Nevada facility and improve efficiencies without full commercial scale experience or guaranteed feedstock supply.
- NewRisks Relating to Our Business
Safety concerns in handling lithium-ion batteries, changes in battery chemistry or technology, slower-than-expected adoption of electric vehicles or stationary energy storage batteries, or reduced government support for clean energy could all negatively impact our revenues and operating results
Operational hazards include fires, equipment failure, water shortages, and health and safety incidents at our properties.
- NewRisks Relating to Our Business
Our operations are subject to development and execution risks, as well as potential limitations in obtaining applicable permits and obtaining or maintaining insurance coverage
We require environmental permits and approvals for air, water, and waste management, and may face local opposition for our facilities.
- NewRisks Relating to Our Business
Declines in demand, volatility in benchmark metal prices, or shifts in the quantity and composition of lithium-ion battery feedstock available to us could materially affect our costs, revenues, and results of operations
Our revenues are sensitive to commodity price volatility for lithium and the adoption rates of electric vehicles and energy storage.
- NewRisks Relating to Our Business
We depend on the skills and experience of our senior management team and key employees. The loss of any such personnel could have a material adverse effect on our business
Advancing our battery material projects concurrently places strain on our senior management team and key personnel.
- NewRisks Relating to Our Business
We may be exposed to litigation, foreclosure, or regulatory actions, any of which could adversely affect our financial condition and results
We face potential litigation regarding environmental practices, ESG disclosures, and securities class actions from share price volatility.
- NewRisks Relating to Our Business
Geopolitical competition over critical minerals and government policies aimed at securing domestic supply chains may restrict our ability to access certain markets, partners, or suppliers, which could increase costs and limit growth opportunities
Geopolitical competition between the U.S. and China over critical minerals may restrict our access to certain markets and suppliers.
- NewRisks Relating to Our Business
Changes in international trade policies, tariffs, or trade disputes—particularly involving major lithium-producing countries—could disrupt supply chains, increase costs, or limit market access, materially impacting our operations and profitability
Tariffs and trade disputes involving major lithium-producing countries could disrupt our supply chains and increase operational costs.
- NewRisks Relating to Our Business
Changes in government policies or funding priorities for critical minerals could reduce or eliminate incentives, grants, or programs we rely on, adversely affecting our operations and growth
- NewRisks Relating to Our Business
Export controls or trade restrictions on lithium, equipment, or technology could limit our market access, sourcing options, or partnerships, and create compliance conflicts across jurisdictions
- NewRisks Relating to Our Business
Mineral Resources and Reserves are estimates subject to inherent uncertainties, including geological, engineering, and economic assumptions; actual tonnage, grades, recoveries, or costs may differ materially, which could adversely affect the Company’s operations and financial results
- NewRisks Relating to Our Business
There is no assurance that economically recoverable mineral reserves exist on our properties, and even if reserves are identified, exploration and development risks could prevent their extraction or the generation of revenue, adversely affecting our business and operations
- NewRisks Relating to Our Business
Evolving federal and state regulations on battery recycling and extended producer responsibility may create new compliance obligations, increase operating costs, or affect the economics of our recycling operations
- NewRisks Relating to Our Business
Changes in income tax rates or laws, or disputes with tax authorities, could materially affect our results of operations and financial condition
- NewRisks Relating to Our Business
If we fail to adequately protect our intellectual property, or if third parties assert claims of infringement against us, we could face significant costs, potential damages, and restrictions on our ability to use certain technologies
- NewRisks Relating to Our Business
Despite mitigation measures, increasing cybersecurity threats and potential attacks could compromise our systems, disrupt operations, expose sensitive data, and materially and adversely impact the Company’s business
- NewRisks Relating to Ownership of Our Securities
Pursuant to the terms of the Purchase Agreement and Notes, we may issue common shares upon conversion, redemption, or exercise of related provisions. We may also issue common shares upon the exercise of outstanding warrants
- NewRisks Relating to Ownership of Our Securities
We have identified a material weakness in our internal control over financial reporting (ICFR). If we fail to remediate this weakness and establish effective controls, our business, operating results, and the market price of our shares could be materially adversely affected
- NewRisks Relating to Ownership of Our Securities
Compliance with the regulatory requirements applicable to U.S. domestic issuers is expected to require considerable time, cost, and resources
- NewRisks Relating to Ownership of Our Securities
We do not currently intend to pay dividends on our common shares and, consequently, your ability to achieve a return on your investment will depend on appreciation in the price of our common shares
- NewRisks Relating to Ownership of Our Securities
Failure to comply with covenants in our debt agreements could result in default, acceleration of repayment obligations, or loss of collateral, which could materially adversely affect our business and operations
- NewRisks Relating to Ownership of Our Securities
We may be required to record write-downs, impairments, restructurings, or other charges, any of which could materially and negatively impact our financial condition, operating results, and share value
Dropped
- Dropped
Pre-Commercialization Company Risks
Pre-commercialization company risks and accumulated losses.
- Dropped
Risks of Competitive Industry
Risks of a competitive battery recycling industry.
- DroppedMarket Risks
Product Price and Quality Risks
Product price and quality risks affecting profitability.
- DroppedMarket Risks
Project and Process Risks
Project and process risks for unproven refining methods.
- DroppedMarket Risks
It is common in new mining operations to experience unexpected costs, problems and delays during construction, commissioning and mine start-up, as well as delays in the early stages of mineral production
Unexpected costs, problems, and delays in new mining operations.
- DroppedRisks Relating to the U.S. DOE Grant Programs
Risk of Hazardous Substances
Risk of hazardous substances and site remediation liability.
- DroppedRisks Relating to the U.S. DOE Grant Programs
Costs and Requirements of Being a Public Company
Costs and requirements of being a public reporting company.
- DroppedRisks Relating to the U.S. DOE Grant Programs
Risk of Fraud, Misconduct, or Non-Compliance with Anti-Corruption Laws
Risk of fraud, misconduct, or anti-corruption non-compliance.
- DroppedRisks Relating to the U.S. DOE Grant Programs
Our required capital expenditures can be complex and challenging to predict, may experience delays or other difficulties, and the costs may exceed our estimates
Complex capital expenditures and customer product certification.
- DroppedRisks Relating to the U.S. DOE Grant Programs
Risk of Failure to Comply with Covenants
Risk of failure to comply with contractual covenants.
- DroppedRisks Relating to the U.S. DOE Grant Programs
Risks from Changing Regulations and Laws
Risks from changing government regulations and laws.
- DroppedRisks Relating to the U.S. DOE Grant Programs
Environmental Risks and Regulations
Stringent environmental regulations and evolving enforcement standards.
- DroppedRisks Relating to the U.S. DOE Grant Programs
Risk of Catastrophic Events, Terrorism and War
- DroppedRisks Relating to the U.S. DOE Grant Programs
Risk of Accounting Estimates and Impairment Charges
- DroppedRisks Relating to the U.S. DOE Grant Programs
Mineral Resource and Mineral Reserve Estimation Risks
- DroppedRisks Relating to the U.S. DOE Grant Programs
Exploration Stage Company Risks
- DroppedRisks Relating to the U.S. DOE Grant Programs
Risk of Future Losses and Lack of Profitability
- DroppedRisks Relating to the U.S. DOE Grant Programs
Intellectual Property Risks
- DroppedRisks Related to Research, and Development, and Changing Technology
Joint Venture, Acquisition and Strategic Alliance Risks
- DroppedRisks Related to Research, and Development, and Changing Technology
Risks of Relying on Consultants
- DroppedRisks Related to Research, and Development, and Changing Technology
Information Technology and Cybersecurity Risks
- DroppedRisks Related to Research, and Development, and Changing Technology
Implementation of Business Plan Risks
- DroppedRisks Related to Research, and Development, and Changing Technology
Risk of Failure of Internal Control Over Financial Reporting
- DroppedRisks Related to Research, and Development, and Changing Technology
Risks of Legal Proceedings
- DroppedRisks Related to Research, and Development, and Changing Technology
Changes to Tax Laws and Other Tax Risks
All 26 risk factors
Headings as the filing states them, in filing order.
Risks Relating to Our Business
- 01There is substantial doubt about our ability to continue as a going concern and to achieve or sustain profitabilityNew
- 02We may require significant additional financing within the next 12 months to fund operations and develop our recycling, extraction, and refining facilities, but there is no assurance such capital will be available on acceptable terms, or at all, which could jeopardize our business plan and continued operationsNew
- 03We may face challenges in executing our growth strategy and effectively managing any expansion. Strategic transactions we pursue could be disruptive, result in shareholder dilution, or otherwise negatively impact our operationsNew
- 04Our ability to source, recover, and recycle lithium-ion battery materials in an economical and efficient manner may be limited, which could affect our ability to meet market demandNew
- 05If we are unable to continue to operate our recycling facility and improve efficiency, our business could be materially harmed. Our operations depend on the continued performance and availability of our recycling facilities, as well as on securing sufficient feedstockNew
- 06Safety concerns in handling lithium-ion batteries, changes in battery chemistry or technology, slower-than-expected adoption of electric vehicles or stationary energy storage batteries, or reduced government support for clean energy could all negatively impact our revenues and operating resultsNew
- 07Our operations are subject to development and execution risks, as well as potential limitations in obtaining applicable permits and obtaining or maintaining insurance coverageNew
- 08Declines in demand, volatility in benchmark metal prices, or shifts in the quantity and composition of lithium-ion battery feedstock available to us could materially affect our costs, revenues, and results of operationsNew
- 09We depend on the skills and experience of our senior management team and key employees. The loss of any such personnel could have a material adverse effect on our businessNew
- 10We may be exposed to litigation, foreclosure, or regulatory actions, any of which could adversely affect our financial condition and resultsNew
- 11Geopolitical competition over critical minerals and government policies aimed at securing domestic supply chains may restrict our ability to access certain markets, partners, or suppliers, which could increase costs and limit growth opportunitiesNew
- 12Changes in international trade policies, tariffs, or trade disputes—particularly involving major lithium-producing countries—could disrupt supply chains, increase costs, or limit market access, materially impacting our operations and profitabilityNew
- 13Changes in government policies or funding priorities for critical minerals could reduce or eliminate incentives, grants, or programs we rely on, adversely affecting our operations and growthNew
- 14Export controls or trade restrictions on lithium, equipment, or technology could limit our market access, sourcing options, or partnerships, and create compliance conflicts across jurisdictionsNew
- 15Mineral Resources and Reserves are estimates subject to inherent uncertainties, including geological, engineering, and economic assumptions; actual tonnage, grades, recoveries, or costs may differ materially, which could adversely affect the Company’s operations and financial resultsNew
- 16There is no assurance that economically recoverable mineral reserves exist on our properties, and even if reserves are identified, exploration and development risks could prevent their extraction or the generation of revenue, adversely affecting our business and operationsNew
- 17Evolving federal and state regulations on battery recycling and extended producer responsibility may create new compliance obligations, increase operating costs, or affect the economics of our recycling operationsNew
- 18Changes in income tax rates or laws, or disputes with tax authorities, could materially affect our results of operations and financial conditionNew
- 19If we fail to adequately protect our intellectual property, or if third parties assert claims of infringement against us, we could face significant costs, potential damages, and restrictions on our ability to use certain technologiesNew
- 20Despite mitigation measures, increasing cybersecurity threats and potential attacks could compromise our systems, disrupt operations, expose sensitive data, and materially and adversely impact the Company’s businessNew
Risks Relating to Ownership of Our Securities
- 21Pursuant to the terms of the Purchase Agreement and Notes, we may issue common shares upon conversion, redemption, or exercise of related provisions. We may also issue common shares upon the exercise of outstanding warrantsNew
- 22We have identified a material weakness in our internal control over financial reporting (ICFR). If we fail to remediate this weakness and establish effective controls, our business, operating results, and the market price of our shares could be materially adversely affectedNew
- 23Compliance with the regulatory requirements applicable to U.S. domestic issuers is expected to require considerable time, cost, and resourcesNew
- 24We do not currently intend to pay dividends on our common shares and, consequently, your ability to achieve a return on your investment will depend on appreciation in the price of our common sharesNew
- 25Failure to comply with covenants in our debt agreements could result in default, acceleration of repayment obligations, or loss of collateral, which could materially adversely affect our business and operationsNew
- 26We may be required to record write-downs, impairments, restructurings, or other charges, any of which could materially and negatively impact our financial condition, operating results, and share valueNew
Other American Battery Technology 10-Ks
- FY2026 10-K risk factors34 risks10 new2 dropped2 reworded
Operating losses reached $73.4 million with an accumulated deficit of $333.5 million.
Filed Sep 14, 2026 - FY2024 10-K risk factors25 risks
The risk section is dominated by pre-commercialization status, unproven technologies in recycling and lithium extraction, and capital raising needs.
Filed Sep 23, 2024
About this page
The headings are the filing's own. The one-line readings and the overview are automated and can be wrong: read Item 1A of the 10-K for the exact wording.