Summary of Significant Accounting Policies (Tables)

9 Months Ended

Mar. 31, 2024

Accounting Policies [Abstract]

Schedule of Consolidated Financial Statements

The tables below reflect the sections of the Company’s condensed consolidated financial statements that were impacted by the error.

CONSOLIDATED BALANCE SHEET

	June 30, 2023
	As Reported			Adjustments			As Corrected
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable and accrued liabilities	$	7,389,864		$	345,000		$	7,734,864
Total current liabilities		13,389,864			345,000			13,734,864
Equity compensation liability		-			833,427			833,427
Total liabilities		13,444,168			1,178,427			14,622,595
Stockholders’ equity
Additional paid in capital	$	222,626,865		$	(325,494	)	$	222,301,371
Accumulated deficit		(159,973,575	)		(852,933	)		(160,826,508	)
Total stockholders’ equity		61,214,484			(1,178,427	)		60,036,057

AMERICAN BATTERY TECHNOLOGY COMPANY

Notes to the Condensed Consolidated Financial Statements

For the period ended March 31, 2024

(unaudited)

CONSOLIDATED STATEMENT OF OPERATIONS

	Fiscal year ended June 30, 2023
	As Reported			Adjustments			As Corrected
Operating expenses
General and administrative	$	11,960,831		$	887,300		$	12,848,131
Research and development		7,703,895			(138,160	)		7,565,735
Exploration		1,910,548			103,793			2,014,341
Total operating expenses		21,575,274			852,933			22,428,207
Net loss before other income (expense)	$	(21,575,274	)	$	(852,933	)	$	(22,428,207	)
Net loss attributable to common stockholders	$	(21,338,207	)	$	(852,933	)	$	(22,191,140	)
Net loss per share, basic and diluted	$	(0.49	)	$	(0.02	)	$	(0.51	)

CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY

	Fiscal year ended June 30, 2023
	As Reported			Adjustments			As Corrected
Stockholders’ Equity
Additional Paid-In Capital:
Stock-based compensation expense	$	9,249,462		$	(325,494	)	$	8,923,968
Balance, June 30, 2023	$	222,626,865		$	(325,494	)	$	222,301,371
Accumulated Deficit
Net loss for period	$	(21,338,207	)	$	(852,933	)	$	(22,191,140	)
Balance, June 30, 2023		(159,973,575	)	$	(852,933	)	$	(160,826,508	)

CONSOLIDATED STATEMENTS OF CASH FLOWS

	Fiscal year ended June 30, 2023
	As Reported			Adjustments			As Corrected
Operating Activities
Net loss attributable to stockholders	$	(21,338,207	)	$	(852,933	)	$	(22,191,140	)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation		9,249,462			507,933			9,757,395
Changes in operating assets and liabilities:
Accounts payable and accrued liabilities	$	(187,796	)	$	345,000		$	157,204
Net Cash Used in Operating Activities	$	(13,367,980	)	$	-		$	(13,367,980	)

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS

	Three months ended September 30, 2023
	As Reported			Adjustments			As Corrected
Operating expenses
General and administrative	$	2,948,846		$	105,152		$	3,053,998
Research and development		2,155,314			1,458,538			3,613,852
Exploration		1,279,782			70,138			1,349,920
Total operating expenses		6,383,942			1,633,827			8,017,769
Net loss before other income (expense)	$	(6,383,942	)	$	(1,633,827	)	$	(8,017,769	)
Other income (expense)
Amortization of financing costs	$	(706,731	)	$	(26,165	)	$	(732,896	)
Total other income (expense)		(848,043	)		(26,165	)		(874,208	)
Net loss attributable to common stockholders	$	(7,231,985	)	$	(1,659,992	)	$	(8,891,977	)
Net loss per share, basic and diluted	$	(0.16	)	$	(0.03	)	$	(0.19	)

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

	Three months ended September 30, 2023
	As Reported			Adjustments			As Corrected
Stockholders’ Equity
Additional Paid-In Capital:
Balance, June 30, 2023	$	222,626,865		$	(325,494	)	$	222,301,371
Stock-based compensation expense		1,921,442			981,396			2,902,838
Balance, September 30, 2023	$	226,317,285		$	655,903		$	226,973,188
Accumulated Deficit
Balance, June 30, 2023	$	(159,973,575	)	$	(852,933	)	$	(160,826,508	)
Net loss for period		(7,231,985	)		(1,659,992	)		(8,891,977	)
Balance, September 30, 2023	$	(167,205,560	)	$	(2,512,926	)	$	(169,718,486	)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

		Three months ended September 30, 2023
		As Reported			Adjustments			As Corrected
Operating Activities
Net loss attributable to stockholders	$	(7,231,985	)	$	(1,659,992	)	$	(8,891,977	)
Adjustments to reconcile net loss to net cash used in operating activities:
Accretion expense	$	256,459		$	26,165		$	282,624
Stock-based compensation		1,921,442			1,447,827			3,369,269
Changes in operating assets and liabilities:
Accounts payable and accrued liabilities	$	228,071		$	186,000		$	414,071
Net Cash Used in Operating Activities	$	(4,758,984	)	$	-		$	(4,758,984	)

AMERICAN BATTERY TECHNOLOGY COMPANY

Notes to the Condensed Consolidated Financial Statements

For the period ended March 31, 2024

(unaudited)

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS

	Three months ended December 31, 2023
	As Reported			Adjustments			As Corrected
Operating expenses
General and administrative	$	4,310,452		$	106,264		$	4,416,716
Research and development		3,148,873			420,294			3,569,167
Exploration costs		771,523			51,902			823,425
Total operating expenses		8,230,848			578,459			8,809,307
Net loss before other income (expense)	$	(8,230,848	)	$	(578,459	)	$	(8,809,307	)
Other income (expense)
Amortization and accretion of financing costs	$	(1,053,766	)	$	(78,492	)	$	(1,132,258	)
Change in fair value of derivative liability		-			(229,473	)		(229,473	)
Total other income (expense)		(1,060,587	)		(307,965	)		(1,368,552	)
Net loss	$	(9,291,435	)	$	(886,424	)	$	(10,177,859	)
Net loss per share, basic and diluted	$	(0.19	)	$	(0.02	)	$	(0.21	)

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS

	Six months ended December 31, 2023
	As Reported			Adjustments			As Corrected
Operating expenses
General and administrative	$	7,259,298		$	211,415		$	7,470,713
Research and development		5,304,187			1,878,831			7,183,018
Exploration costs		2,051,305			122,040			2,173,345
Total operating expenses		14,614,790			2,212,286			16,827,076
Net loss before other income (expense)	$	(14,614,790	)	$	(2,212,286	)	$	(16,827,076	)
Other income (expense)
Amortization and accretion of financing costs	$	(1,760,497	)	$	(104,657	)	$	(1,865,154	)
Change in fair value of derivative liability		-			(229,473	)		(229,473	)
Total other income (expense)		(1,908,630	)		(334,130	)		(2,242,760	)
Net loss	$	(16,523,420	)	$	(2,546,416	)	$	(19,069,836	)
Net loss per share, basic and diluted	$	(0.35	)	$	(0.05	)	$	(0.40	)

AMERICAN BATTERY TECHNOLOGY COMPANY

Notes to the Condensed Consolidated Financial Statements

For the period ended March 31, 2024

(unaudited)

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

	Three months ended December 31, 2023
		As Reported			Adjustments			As Corrected
Stockholders’ Equity
Additional Paid-In Capital:
Balance, September 30, 2023	$	226,317,285		$	655,903		$	226,973,188
Stock-based compensation expense		3,836,466			146,877			3,983,343
Balance, December 31, 2023	$	243,020,935		$	802,779		$	243,823,714
Accumulated Deficit
Balance, September 30, 2023	$	(167,205,560	)	$	(2,512,926	)	$	(169,718,486
Net loss for period		(9,291,435	)		(886,424	)		(10,177,859	)
Balance, December 31, 2023	$	(176,496,995	)	$	(3,399,350	)	$	(179,896,345	)

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

	Six months ended December 31, 2023
	As Reported			Adjustments			As Corrected
Stockholders’ Equity
Additional Paid-In Capital:
Balance, June 30, 2023	$	222,626,865		$	(325,494	)	$	222,301,371
Stock-based compensation expense		5,757,908			1,128,273			6,886,181
Balance, December 31, 2023	$	243,020,935		$	802,779		$	243,823,714
Accumulated Deficit
Balance, June 30, 2023	$	(159,973,575	)	$	(852,933	)	$	(160,826,508	)
Net loss for period		(16,523,420	)		(2,546,416	)		(19,069,836	)
Balance, December 31, 2023	$	(176,496,995	)	$	(3,399,350	)	$	(179,896,345	)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

	Six months ended December 31, 2023
	As Reported			Adjustments			As Corrected
Operating Activities
Net loss attributable to stockholders	$	(16,523,420	)	$	(2,546,416	)	$	(19,069,836	)
Adjustments to reconcile net loss to net cash used in operating activities:
Accretion of financing costs	$	1,760,497		$	104,657		$	1,865,154
Stock-based compensation		5,757,908			1,933,603			7,691,511
Shares issued for professional services		(132)			(316	)		(448	)
Change in fair value of derivative liability		-			229,473			229,473
Changes in operating assets and liabilities:
Accounts payable and accrued liabilities	$	2,223,865		$	279,000		$	2,502,865
Net Cash Used in Operating Activities	$	(7,418,700	)	$	-		$	(7,418,700	)