2025 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 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, 2025 ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from _______________ to ________________ Commission file number 1-14105 AVALON HOLDINGS CORPORATION (Exact name of registrant as specified in its charter) | | | (State or ot ...

WARREN, Ohio, Aug. 8, 2025 /PRNewswire/ -- Avalon Holdings Corporation (NYSE Amex: AWX) today announced financial results for the second quarter of 2025.Net operating revenues in the second quarter of 2025 were $20.3 million compared with $23.1 million in the second quarter of 2024. The Company recorded net income attributable to Avalon Holdings Corporation common shareholders of $0.3 million in the second quarter of 2025 compared with net income attributable to Avalon Holdings Corporation common shareholde ...

Core Viewpoint - Avalon Advanced Materials Inc. has successfully closed a second drawdown of $1,300,000 from a convertible security funding agreement totaling up to $15,000,000 with Lind Global Fund II, LP, aimed at advancing strategic projects and corporate initiatives [1][2] Funding Agreement - The company has completed the second drawdown of $1,300,000 from a total funding agreement of $15,000,000 with Lind Global Fund II, LP [1] - The funds will be allocated towards advancing strategic projects, including byproduct innovation through its subsidiary Lake Superior Lithium Inc. [2] Analcime Research Project - Avalon is advancing its Analcime Utilization Project, which aims to enhance the value of byproducts from lithium processing, supported by Ontario's Critical Minerals Innovation Fund [3] - The project focuses on developing solutions for analcime, a byproduct from lithium hydroxide production, which may improve the durability and carbon profile of concrete [4] - Ongoing hydrometallurgical test work is being conducted to produce analcime samples from spodumene concentrate [5] Sustainability and Economic Impact - The analcime project is expected to provide sustainability benefits by reducing carbon emissions and creating new revenue opportunities [6] - Avalon aims to contribute to the repair and expansion of provincial highways while positioning itself as a leader in the global critical minerals economy [7] Company Overview - Avalon Advanced Materials Inc. is focused on developing strategic assets for secure, domestic supply chains in critical minerals, particularly lithium [9] - The company is advancing the Lake Superior Lithium Inc. facility, which will serve as a vital link between northern Ontario's lithium resources and the growing EV battery manufacturing base [9]

Dublin, July 15, 2025 (GLOBE NEWSWIRE) -- The "Battery Testing Equipment Rental Market - A Global and Regional Analysis: Focus on Product, Application, and Country Analysis - Analysis and Forecast, 2025-2034" report has been added to ResearchAndMarkets.com's offering.The Battery Testing Equipment Rental Market plays a critical role in supporting industries involved in the development, manufacturing, and deployment of batteries, particularly for electric vehicles (EVs), consumer electronics, and renewable e ...

Core Viewpoint - Avalon GloboCare Corp. has entered into a definitive agreement with Qi Diagnostics Limited to co-develop a VOC nanosensor-based point-of-care cannabis breathalyzer aimed at enhancing public safety and supporting real-time detection of cannabis-impaired driving [1][2][3] Company Overview - Avalon GloboCare Corp. (NASDAQ: ALBT) specializes in precision diagnostic consumer products and is advancing intellectual property in cellular therapy [4] - The company is currently marketing the KetoAir™ breathalyzer device, which is registered with the U.S. Food and Drug Administration as a Class I medical device [4] Strategic Collaboration - The collaboration involves Avalon, its subsidiary Q&A Distribution, LLC, and Qi Diagnostics to jointly design, validate, and develop a prototype for the cannabis breathalyzer device [2] - This partnership aims to combine Avalon's regulatory expertise with Qi Diagnostics' VOC nanosensor technology to provide a non-invasive cannabis detection solution [3]

Vancouver, British Columbia--(Newsfile Corp. - June 25, 2025) - ArcWest Exploration Inc. (TSXV: AWX) ("ArcWest") is pleased to provide an update on drill results from the 2024 drill program at its Oweegee Dome Porphyry Cu-Au-Mo-Ag Project in B.C.'s Golden Triangle. The 2024 program was funded and operated by Sanatana Resources (TSX: STA), see Sanatana Resources press release dated November 11, 2024). The program tested two targets on the property: a deep geophysical target (Junction target) and the shallow ...

Core Insights - AEM Holdings Ltd. collaborates with Intel Foundry to enhance access to System-Level Test (SLT) and Burn-In capabilities for advanced computing devices, aiming to accelerate time-to-market for fabless customers [1][2][5] Group 1: Collaboration Details - The partnership leverages decades of collaboration to create a mature SLT and Burn-In ecosystem, essential for high-performance computing (HPC) and artificial intelligence (AI) applications [1][2] - AEM provides device-specific configurable test units, advanced handlers, and software support, complementing Intel Foundry's services such as factory automation and test program development [3][9] Group 2: Customer Benefits - Key benefits for customers include enhanced test coverage, reduced capital expenditure, and faster time-to-market, supported by a scalable platform and local engineering teams [5][6][9] - The collaboration aims to meet rising performance demands and facilitate chiplet-based architectures, ensuring reliability for AI and HPC applications [5][6] Group 3: Company Overview - AEM Holdings Ltd. is a global leader in test innovation with a presence across Asia, Europe, and the United States, offering comprehensive semiconductor and electronics test solutions [7][8]

Financial Performance - Net operating revenues decreased to $16.1 million in Q1 2025 from $18.9 million in Q1 2024, with the waste management services segment contributing approximately $9.7 million compared to $12.5 million in the prior year[148]. - Net loss attributable to Avalon Holdings Corporation common shareholders was $1.5 million, or $0.38 per share, in Q1 2025, compared to a net loss of $1.0 million, or $0.25 per share, in Q1 2024[152][166]. - Net operating revenues of the waste management services segment decreased to $9.7 million in Q1 2025 from $12.5 million in Q1 2024, a decline of approximately 22.4%[154]. - Net operating revenues from waste disposal brokerage and management services were approximately $8.8 million in Q1 2025, down from $11.8 million in Q1 2024, representing a decrease of approximately 25.4%[155]. - Membership dues revenue decreased to approximately $1.8 million in Q1 2025 from $2.0 million in Q1 2024, a decline of 10%[161]. - Net operating revenues of the golf and related operations segment remained stable at approximately $6.4 million in both Q1 2025 and Q1 2024[159]. Operational Costs - Total cost of operations for the waste management services segment decreased to $7.6 million in Q1 2025 from $9.9 million in Q1 2024, reflecting a direct correlation with the decrease in revenues[149]. - Total cost of operations for the golf and related operations segment increased to $6.1 million in Q1 2025 from $5.9 million in Q1 2024[162]. - General corporate expenses decreased to $0.9 million in Q1 2025 from $1.0 million in Q1 2024[164]. - Interest expense remained approximately $0.5 million for both Q1 2025 and Q1 2024[165]. Working Capital and Financial Position - Working capital deficit increased to approximately $2.3 million at March 31, 2025, compared to $0.9 million at December 31, 2024, primarily due to increases in accounts payable and accrued liabilities[136]. - Accounts receivable rose to $11.4 million at March 31, 2025, up from $8.6 million at December 31, 2024, driven by increased billings and timing of receipts[136]. - Deferred revenue related to membership dues increased to approximately $5.1 million at March 31, 2025, compared to $3.5 million at December 31, 2024, attributed to the timing of annual membership renewals[140]. - As of March 31, 2025, approximately $3.2 million was outstanding under the Line of Credit Agreement, with an interest rate of 7.75%[201]. Capital Expenditures and Financing - Capital expenditures for Q1 2025 totaled $0.5 million, with expectations for total capital expenditures in 2025 ranging from $2.5 million to $3.5 million, primarily for renovations at The Grand Resort[134][135]. - The 2022 Term Loan Agreement has a fixed interest rate of 6.00% until the seventh anniversary, after which it may be adjusted but will not exceed 8.50%[126]. - The New Term Loan Agreement bears interest at a fixed rate of 6.00% until the seventh anniversary date, after which it will reset to a fixed rate based on the three-year treasury rate plus 3.40%[200]. - The Line of Credit Agreement allows for borrowings up to $5.0 million, with approximately $3.2 million outstanding as of March 31, 2025[129][130]. Membership and Market Conditions - The number of members at Avalon Golf and Country Club increased to 4,692 at March 31, 2025, from 4,661 at December 31, 2024[140]. - The company faces challenges in retaining and attracting members for the Avalon Golf and Country Club, which could adversely affect future financial performance[195]. - Inflation and economic conditions impact consumer disposable income and spending habits, potentially affecting Avalon's business performance[198]. - Avalon's golf course operations and The Grand Resort are significantly dependent on weather conditions, affecting financial performance during the golf season[197]. Legal and Regulatory Matters - Avalon received Chief's Orders on May 24, 2021, vacating the September 3, 2014 suspension orders for AWMS 2 and setting conditions for its restart, including a limit on seismicity within three miles of the well[194]. - The Ohio 10th District Court of Appeals reinstated the previous Ohio Oil and Gas Commission decision regarding AWMS 2 on July 31, 2018[188]. - The Supreme Court of Ohio ruled in favor of Avalon on September 23, 2020, reversing a prior decision and remanding the case for trial[193]. - The company has appealed various decisions regarding the suspension of AWMS 2, indicating ongoing legal challenges related to its operations[186]. Business Risks - The captive landfill management business is dependent upon a single customer, which poses a risk to future financial performance if the customer is lost[178]. - Avalon plans to continue exploring acquisition opportunities in the golf and related operations segment, particularly in economically distressed private country clubs in northeast Ohio[146]. - The company does not have significant exposure to changing interest rates and does not engage in interest rate risk management transactions[199].

Core Viewpoint - Avalon Advanced Materials Inc. has adopted a shareholder rights plan to protect all shareholders from unsolicited take-over bids and "creeping bids" that could accumulate over 20% of the company's shares [2][3]. Group 1: Shareholder Rights Plan - The Rights Plan is effective as of April 8, 2025, and aims to ensure fair treatment of all shareholders [1]. - One right will be issued for each common share, allowing rights holders (excluding the acquiring person) to purchase additional shares at a 50% discount if the rights become exercisable [4]. - The plan has been conditionally approved by the Toronto Stock Exchange and requires ratification by shareholders within six months [5]. Group 2: Company Overview - Avalon Advanced Materials Inc. is focused on vertically integrating the Ontario lithium supply chain and is advancing its Separation Rapids lithium Project [6]. - The company is also exploring its Snowbank lithium and Lilypad lithium-caesium deposits, and developing the Nechalacho rare earths and zirconium project [6]. - Avalon is working on establishing Ontario's first midstream lithium hydroxide processing facility in Thunder Bay, which is crucial for linking northern lithium resources with southern EV battery manufacturing [6].

Core Insights - Avalon Holdings Corporation reported financial results for the fourth quarter and fiscal year ended December 31, 2024, showing improvements in net income and revenues compared to the previous year [1] Financial Performance - In Q4 2024, net operating revenues were $17.6 million, slightly down from $17.7 million in Q4 2023 [2] - The net loss attributable to common shareholders decreased to $0.5 million in Q4 2024 from $0.8 million in Q4 2023, resulting in a basic net loss per share of $0.13 compared to $0.21 in the prior year [2] - For the full year 2024, net operating revenues increased to $83.8 million from $80.9 million in 2023 [3] - The company achieved a net income of $1.3 million for the year ended December 31, 2024, a significant turnaround from a net loss of $1.8 million in 2023, with basic net income per share rising to $0.34 from a loss of $0.46 [3] Business Operations - Avalon Holdings Corporation provides waste management services to various sectors including industrial, commercial, municipal, and governmental customers in selected northeastern and midwestern U.S. markets [4] - The company also operates Avalon Resorts and Clubs Inc., which includes a hotel, golf courses, country clubs, and a multipurpose recreation center [4] Revenue Breakdown - For Q4 2024, the revenue from waste management services was $9.8 million, down from $9.9 million in Q4 2023 [5] - Food, beverage, and merchandise sales remained stable at $2.9 million for both Q4 2024 and Q4 2023 [5] - Total golf and related operations revenue was $7.9 million in Q4 2024, slightly up from $7.8 million in Q4 2023 [5] Cost and Expenses - Operating costs for waste management services were $7.6 million in Q4 2024, down from $7.8 million in Q4 2023 [5] - Total current liabilities decreased to $15.5 million in 2024 from $17.9 million in 2023, indicating improved financial management [6]