Base Carbon Reports Second-Quarter 2025 Operating and Financial Results

Company Highlights - Base Carbon Inc. reported a realized cash settled gain on investments in carbon credit projects of $1,022,000 for Q2 2025, a significant decrease from $12,508,000 in Q2 2024 [3] - Total operating expenses decreased to $1,765,000 from $2,537,000 year-over-year [3] - The company recorded an operating loss of $743,000 for the period, compared to an operating income of $9,971,000 in the same quarter last year [3] - Comprehensive income for the period was $239,000, down from $7,470,000 in Q2 2024 [3] Financial Highlights - As of June 30, 2025, total assets were $110,969,000, a slight decrease from $112,068,000 at the end of 2024 [5] - Total liabilities were reported at $8,802,000, down from $9,059,000 [5] - Total shareholders' equity decreased to $102,167,000 from $103,008,000 [5] Carbon Credit Projects - The company achieved net cash proceeds of $1.0 million from the Vietnam cookstove carbon credit monetization, marking five consecutive quarters of carbon credit sales revenue [6] - The inventory of carbon credits increased by 11.2% to 1,905,003 following the receipt of 192,810 carbon credits from the Rwanda cookstoves project [6] - The DelAgua Group submitted a requantification request to Verra for the Rwanda cookstoves project, which could enhance the value of carbon credits issued under the new CORSIA-approved methodology [6][13] Investment and Share Repurchase - The company repurchased approximately 6 million shares at an average price of C$0.49 per share through its normal course issuer bid [6] - As of June 30, 2025, cash and cash equivalents stood at $10,425,000, down from $14,799,000 [7] Future Projects - The India Afforestation, Reforestation, and Revegetation project is expected to issue its first carbon credits in the first half of 2026 [15] - The company is actively assessing capital deployments that generate carbon credits while producing commercial products, including biochar and agroforestry [18][19] Investor Engagement - An Investor Town Hall is scheduled for September, where management will provide updates and respond to investor questions [20]