Basis of Presentation, Summary of Significant Accounting Policies and Recent Accounting Pronouncements (Tables)

6 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Schedule of Consolidated Financial Statements

AMERICAN BATTERY TECHNOLOGY COMPANY

Notes to the Condensed Consolidated Financial Statements

(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		771,523			51,902			823,425
Total operating expenses		8,230,848			578,460			8,809,308
Net loss before other income (expense)	$	(8,230,848	)	$	(578,460	)	$	(8,809,308	)
Other income (expense)
Amortization and accretion of financing costs	$	(1,053,766	)	$	(78,492	)	$	(1,132,258	)
Change in fair value of derivative liability		-			(229,472	)		(229,472	)
Total other income (expense)		(1,060,587	)		(307,965	)		(1,368,551	)
Net loss attributable to common stockholders	$	(9,291,435	)	$	(886,424	)	$	(10,177,859	)
Net loss per share, basic and diluted	$	(0.19	)	$	(0.02	)	$	(0.21	)

	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		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 attributable to common stockholders	$	(16,523,420	)	$	(2,546,416	)	$	(19,069,836	)
Net loss per share, basic and diluted	$	(0.35	)	$	(0.05	)	$	(0.40	)

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

	Three months ended December 31, 2023
	As Reported			Adjustments			As Corrected
Stockholders’ Equity
Additional paid-in capital:
Stock-based compensation expense		3,836,466			424,861			4,261,327
Balance, December 31, 2023	$	243,020,935		$	2,380,621		$	245,401,556
Accumulated deficit
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	)
Total stockholders’ equity
Balance, December 31, 2023	$	66,573,285		$	(1,018,729	)	$	65,554,556

AMERICAN BATTERY TECHNOLOGY COMPANY

Notes to the Condensed Consolidated Financial Statements

(unaudited)

	Six months ended December 31, 2023
	As Reported			Adjustments			As Corrected
Stockholders’ Equity
Additional paid-in capital:
Stock-based compensation expense		5,757,908			1,872,688			7,630,596
Balance, December 31, 2023	$	243,020,935		$	2,380,621		$	245,401,556
Accumulated deficit
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	)
Total stockholders’ equity
Balance, December 31, 2023	$	66,573,285		$	(1,018,729	)	$	65,554,556

CONDENSED CONSOLIDATED STATEMENT 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:
Amortization and accretion expense	$	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	$	2,164,539		$	279,000		$	2,443,539
Net cash used in operating activities	$	(7,418,700	)	$	-		$	(7,418,700	)