Core Viewpoint - Stardust Power Inc. is making steady progress in its lithium product development, with a focus on engineering, permitting, and infrastructure, while also beginning third-party validation of its FEL-3 study, which is expected to reduce project risk [2][5] Business Updates - The company successfully closed a public offering on June 18, 2025, raising approximately $4.52 million, including proceeds from the underwriters' partial exercise of their overallotment option [5] - A strategic partnership was formed with Ohio University to advance lithium extraction and refining technologies, aimed at accelerating research on lithium production from brine sources [5] - The company is developing a lithium processing facility in Muskogee, Oklahoma, with an anticipated capacity of producing up to 50,000 metric tons per annum of battery-grade lithium [7] Financial Highlights - As of June 30, 2025, the company had cash and cash equivalents of approximately $2.6 million and no long-term debt [3] - The net loss for the second quarter of 2025 was $3.7 million, compared to a loss of $2.7 million for the same quarter in the previous year [6] - Loss per share improved to $(0.06) for the second quarter of 2025, compared to $(0.07) for the prior year quarter [6] - Net cash used in operating activities increased to $4.5 million for the six months ended June 30, 2025, compared to $2.1 million for the prior year period [6] - Net cash used in investing activities was $2.2 million for the six months ended June 30, 2025, compared to $0.5 million for the prior year period [6] - Net cash provided by financing activities was $8.4 million for the six months ended June 30, 2025, compared to $2.0 million for the prior year period [6]
Stardust Power Announces Q2 2025 Financial Results