Financial Performance - For the three months ended September 30, 2024, the company reported net sales of $0, compared to $1,315 for the same period in 2023[262]. - The net loss for the three months ended September 30, 2024, was $6,636,679, compared to a loss of $1,437,494 in the same period in 2023[262]. - For the nine months ended September 30, 2024, the company reported a net loss of $14,384,526, significantly higher than the loss of $4,211,621 for the same period in 2023[266]. - Cash used in operating activities for the nine months ended September 30, 2024, was $5,677,192, compared to $3,298,947 for the same period in 2023[270]. Operating Expenses - Operating expenses for the three months ended September 30, 2024, increased by $2,753,106, totaling $4,193,006, primarily due to third-party validation testing and administrative costs[264]. Financing Activities - The company generated $7,056,000 from financing activities for the nine months ended September 30, 2024, primarily from private placement financing[274]. - The company received net proceeds of $17,555 from the merger with Honeycomb Battery Company, which will be used for corporate growth strategies[247]. - The company entered into a private placement transaction on March 13, 2024, generating gross proceeds of $3,850,000[248]. Assets and Liabilities - As of September 30, 2024, the company had an accumulated deficit of $104,336,032[277]. - As of September 30, 2024, the company's total contractual obligations amount to $3,548,360, which includes short-term notes payable of $1,953,335 and excise taxes of $890,385[281]. - The company has no long-term debt, capital lease obligations, or long-term liabilities as of September 30, 2024[282]. - The company has not entered into any off-balance sheet financing arrangements or established any special purpose entities[279]. - The company has no obligations, assets, or liabilities considered off-balance sheet arrangements as of September 30, 2024[278]. Accounting Policies - The company accounts for forward purchase agreements based on specific terms and applicable guidance, assessing whether they meet criteria for equity or liability classification[285]. - The fair value of the forward purchase agreements is classified as Level 3, requiring significant estimates and judgments for valuation[287]. - Recent accounting standards updates, such as ASU 2023-09 and ASU 2023-07, are not expected to have a material impact on the company's financial statements[289][290]. - The company prepares financial statements in accordance with U.S. GAAP, requiring management to make estimates that could materially affect reported amounts[283]. - Critical accounting estimates are identified based on uncertainty and potential material impact on financial condition or results of operations[284]. - The company evaluates its accounting estimates on an ongoing basis to ensure accuracy and relevance[283].

Core Insights - Solidion Technology, Inc. reported its operational and financial results for Q3 2024, highlighting significant technological advancements and strategic developments in the battery materials sector [1]. Technological Advancements - The company secured a U.S. patent for a technology that enables 5-minute charging of lithium batteries, addressing a major barrier to electric vehicle adoption [2]. - Solidion expanded its intellectual property portfolio with 20 new U.S. patents this year, covering advanced anode materials with specific capacities ranging from 300 to over 3,500 mAh/g [2]. - The company achieved third-party validation for a cost-effective process that eliminates the need for toxic silane gas, positioning itself as a key supplier in the energy storage battery market [2]. Business Development and Corporate Updates - Solidion signed a strategic Memorandum of Understanding with Bluestar Materials Company to accelerate the commercialization of its silicon-based anode technology, enhancing its market position [3]. - The company has incorporated Bitcoin purchases into its corporate treasury strategy, allocating 60% of excess cash reserves and interest earnings to Bitcoin, reflecting confidence in its value [3]. - Solidion's inclusion in the Russell 3000® Index is expected to enhance its visibility among institutional investors and attract broader market interest [3]. Financial Highlights - The company reported a net loss of $6.64 million for Q3 2024, with an EPS of -$0.07, which includes a non-cash loss of approximately $9.65 million related to the issuance of PIPE common stock and warrants [5]. - Operating expenses increased by $2.75 million compared to Q3 2023, primarily due to third-party validation testing and other administrative costs [7]. - Other expenses increased by $2.44 million, driven by a gain related to the fair value of derivative liabilities and a loss from the issuance of common stock [8]. CEO Statement - The CEO of Solidion emphasized the company's strong position as a low-cost U.S. manufacturer, highlighting milestones achieved that competitors have not, despite their higher spending [4]. Company Overview - Solidion is headquartered in Dallas, Texas, with pilot production facilities in Dayton, Ohio, focusing on manufacturing battery materials and developing next-generation batteries for various transportation modes [10]. - The company holds over 550 patents, covering innovations in high-capacity anodes and advanced battery technologies [10]. - Solidion offers advanced anode materials and three classes of solid-state batteries, designed for scalability and improved performance in electric vehicles [11].

DALLAS, Nov. 14, 2024 /PRNewswire/ -- Solidion Technology, Inc. (NASDAQ: STI), an advanced battery materials provider, today announced a major step forward in its corporate treasury strategy by allocating a significant portion of its excess cash reserves to Bitcoin. This move, alongside the broader pro-Bitcoin environment influenced by the recent election of a pro-crypto administration, solidifies the company's long-term belief in Bitcoin's role as a store of value and a strategic asset. Solidion's core bus ...

Collaboration will Leverage Solidion's Patent Portfolio and Drive U.S. ManufacturingDALLAS, Nov. 11, 2024 /PRNewswire/ -- Solidion Technology, Inc. (NASDAQ: STI), an advanced battery technology solutions provider, today announced a strategic Memorandum of Understanding with Bluestar Materials Company of Taiwan. This agreement will leverage Solidion's patent portfolio and accelerate the commercialization of its anode technology, including its recently disclosed technology that allow lithium batteries to be c ...

Labcorp to serve as the exclusive NOWDiagnostics (NOWDx) distributor for clinical testing in the U.S., offering First to Know® Syphilis Test nationwide BURLINGTON, N.C., Oct 10, 2024 /PRNewswire/ -- Labcorp (NYSE: LH), a global leader of innovative and comprehensive laboratory services, announced today it has expanded its portfolio of sexually transmitted infection (STI) testing options to include the First to Know® Syphilis Test, the first over-the-counter blood test granted market authorization by the U.S ...

DALLAS, TEXAS, Aug. 30, 2024 (GLOBE NEWSWIRE) -- Solidion Technology, Inc., (the "Company," "Solidion," "we," "our" or "us"), an advanced battery technology solutions provider, today announced that it has entered into a securities purchase agreement with institutional investors to raise approximately $4 million in aggregate cash proceeds, before deducting fees to the placement agent and other offering expenses payable by the Company. The closing of the private placement is expected to occur on September 3, ...

DAYTON, Ohio, Aug. 26, 2024 (GLOBE NEWSWIRE) -- Solidion Technology, Inc. (NASDAQ: STI), an advanced battery technology solutions provider, announces that the company is ready to form strategic partnerships aiming to help accelerate commercialization of lithium-sulfur (Li-S) batteries for worldwide electrification of transportation. To realize an EV range of 800 miles on one battery charge, a new battery system capable of delivering an energy density higher than 500 Wh/kg would be needed. Current lithium-io ...

DAYTON, Ohio, Aug. 21, 2024 (GLOBE NEWSWIRE) -- Solidion Technology, Inc. (NASDAQ ticker symbol "STI"), an advanced battery technology solutions provider, today announced that its silicon-rich anode material has passed a critical milestone test. The quantity of energy that a lithium-ion battery can supply to an electric vehicle (EV) is limited by the amount of charges stored in its anode and cathode materials. Although graphite has been the preferred anode material during the past 30 years, Industry-leading ...

United States SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 8-K Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): August 12, 2024 SOLIDION TECHNOLOGY, INC. (Exact name of registrant as specified in its charter) | --- | --- | --- | |------------------------------------|------------------------------|-----------------------| | Delaware | 001-41323 | 87-1993879 | | (State or other jurisdiction | (Commission F ...

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, 2024 ☐ 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: 001-41323 | --- | --- | |---------------------------------------------------------------------------------|----------------- ...