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Midas Edge

CADIZ INC

For the period ended Sep 30, 2024. Filed Nov 13, 2024.

View on SEC.gov

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2024 · Filed Nov 13, 2024

CDZI$3.77+5.3%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits
Contents

Table of Contents

Fiscal Third Quarter 2024 Quarterly Report on Form 10-QPage
PART I – FINANCIAL INFORMATION
ITEM 1. Financial Statements
Cadiz Inc. Condensed Consolidated Financial Statements
Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss for the three months ended September 30, 2024 and 20231
Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss for the nine months ended September 30, 2024 and 20232
Unaudited Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 20233
Unaudited Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 20234
Unaudited Condensed Consolidated Statement of Stockholders’ Equity for the three and nine months ended September 30, 20245
Unaudited Condensed Consolidated Statement of Stockholders’ Equity for the three and nine months ended September 30, 20236
Unaudited Notes to the Condensed Consolidated Financial Statements7
ITEM 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations23
ITEM 3. Quantitative and Qualitative Disclosures about Market Risk33
ITEM 4. Controls and Procedures33
PART II – OTHER INFORMATION
ITEM 1. Legal Proceedings35
ITEM 1A. Risk Factors35
ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds35
ITEM 3. Defaults Upon Senior Securities35
ITEM 4. Mine Safety Disclosures35
ITEM 5. Other Information36
ITEM 6. Exhibits37

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)

For the Three Months
Ended September 30,
($ in thousands, except per share data)20242023
Total revenues$3,224$368
Costs and expenses:
Cost of sales2,409692
General and administrative5,2755,127
Depreciation307308
Total costs and expenses7,9916,127
Operating loss(4,767)(5,759)
Interest expense, net(2,023)(1,173)
Loss before income taxes(6,790)(6,932)
Income tax expense(3)(4)
Net loss and comprehensive loss$(6,793)$(6,936)
Less: Preferred stock dividend(1,265)(1,265)
Net loss and comprehensive loss applicable to common stock$(8,058)$(8,201)
Basic and diluted net loss per common share$(0.12)$(0.12)
Basic and diluted weighted average shares outstanding68,02066,611

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)

For the Nine Months
Ended September 30,
($ in thousands, except per share data)20242023
Total revenues$4,858$1,307
Costs and expenses:
Cost of sales4,2651,482
General and administrative16,31014,378
Depreciation907942
Total costs and expenses21,48216,802
Operating loss(16,624)(15,495)
Interest expense, net(5,883)(3,637)
Loss on derivative liability-(220)
Loss on early extinguishment of debt-(5,331)
Loss before income taxes(22,507)(24,683)
Income tax expense(8)(8)
Net loss and comprehensive loss$(22,515)$(24,691)
Less: Preferred stock dividend(3,818)(3,818)
Net loss and comprehensive loss applicable to common stock$(26,333)$(28,509)
Basic and diluted net loss per common share$(0.39)$(0.44)
Basic and diluted weighted average shares outstanding67,59865,299
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.