CENAQ ENERGY(CENQ) - 2024 Q3 - Quarterly Results

Financial Performance - For Q3 2024, Verde Clean Fuels, Inc. reported a net loss of $2.5 million, with a diluted net loss per share of $0.12[4] - The total operating loss for the nine months ended September 30, 2024, was $8.8 million, compared to $8.2 million for the same period in 2023[13] - General and administrative expenses for Q3 2024 were $2.7 million, up from $2.5 million in Q3 2023[13] - Research and development expenses for the nine months ended September 30, 2024, were $350,158, compared to $246,788 in the same period of 2023[13] - The accumulated deficit increased to $26.4 million as of September 30, 2024, from $23.9 million at the end of 2023[15] Cash and Assets - As of September 30, 2024, the company had cash and cash equivalents of $21.7 million and no debt[5] - Total assets as of September 30, 2024, were $25.9 million, down from $31.9 million at the end of 2023[15] Project Development - The company capitalized $0.7 million in FEED costs related to the proposed Permian Basin project[5] - Verde is progressing with the front-end engineering and design (FEED) for the proposed Permian Basin project in collaboration with Diamondback Energy[9] Management Changes - The company appointed George Burdette as Chief Financial Officer in October 2024, bringing over 15 years of experience[6]