Skip to main content

Midwest Energy Emissions Corp

For the period ended Jun 30, 2024. Filed Aug 12, 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.

Jun 30, 2024 · Filed Aug 12, 2024

BCHT$1.15+11.7%Stored close · as of Nov 6, 2026
See the whole filing, with its images and exhibits

Cover page

Show cover page

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 10-Q

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2024

Commission file number000-33067

MIDWEST ENERGY EMISSIONS CORP.

(Exact name of Registrant as Specified in its Charter)

Delaware87-0398271
(State or other jurisdiction ofincorporation or organization)(I.R.S. EmployerIdentification No.)
1810 Jester DriveCorsicana, Texas75109
(Address of principal Executive offices)(Zip Code)

(614)505-6115

(Registrant’s Telephone Number, Including Area Code)

Not applicable

(Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report)

Securities registered pursuant to Section 12(b) of the Act: None.

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definition of “large accelerated filer”, “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer☐Accelerated filer☐
Non-accelerated filer☒Smaller reporting company☒
Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined by Rule 12b-2 of the Exchange Act). Yes☐ No ☒

State the number of shares outstanding of each of the Issuer’s classes of common stock, as of the latest practicable date: Common, $.001 par value per share,96,153,153 outstanding as of August 12, 2024.

MIDWEST ENERGY EMISSIONS CORP.

TABLE OF CONTENTS

Page
PART I ‑ FINANCIAL INFORMATION
Item 1.Financial Statements.1
Condensed Consolidated Balance Sheets as of June 30, 2024 (Unaudited) and December 31, 20231
Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2024 and 2023 (Unaudited)2
Condensed Consolidated Statements of Changes in Stockholders’ Deficit for the Three and Six Months Ended June 30, 2024 and 2023 (Unaudited)3
Condensed Consolidated Statements of Cash Flows for the Three and Six Months Ended June 30, 2024 and 2023 (Unaudited)5
Notes to Condensed Consolidated Financial Statements (Unaudited)6
Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations.25
Item 3.Quantitative and Qualitative Disclosures About Market Risk.32
Item 4.Controls and Procedures.32
PART II - OTHER INFORMATION
Item 1.Legal Proceedings.33
Item 1A.Risk Factors.33
Item 2.Unregistered Sales of Equity Securities and Use of Proceeds.33
Item 3.Default upon Senior Securities.33
Item 4.Mine Safety Disclosures.33
Item 5.Other Information.33
Item 6.Exhibits.34
SIGNATURES35

i

Table of Contents

FORWARD-LOOKING STATEMENTS

This Quarterly Report on Form 10-Q contains “forward-looking statements,” as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and reflect our current expectations regarding our future growth, results of operations, cash flows, performance and business prospects, and opportunities, as well as assumptions made by, and information currently available to, our management. Forward-looking statements are generally identified by using words such as “anticipate,” “believe,” “plan,” “expect,” “intend,” “will,” and similar expressions, but these words are not the exclusive means of identifying forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such risks include, without limitation, the following:

■the loss of major customers;
■dependence on availability and retention of key suppliers;
■changes, or lack of changes, in environmental regulations;
■risks related to advancements in technologies;
■lack of diversification in the Company’s business;
■risks related to intellectual property, including the ability to protect intellectual property and the success of any patent litigation;
■competition risks;
■changes in demand for coal as a fuel source for electricity production;
■ability to retain key personnel;
■absence of a liquid public market for our common stock;
■share price volatility;
■the potential that dividends may never be declared; and

Further, any forward-looking statement speaks only as of the date on which it is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for us to predict which factors will arise. In addition, we cannot assess the impact of each factor on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. We qualify all of the information presented in this report, and particularly our forward-looking statements, by these cautionary statements.

Except to the extent required by applicable laws or rules, we undertake no obligation to publicly update or revise any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future events, or otherwise.

ii

Table of Contents

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.