ReGen III (GIII) Q1 2025 earnings summary

Executive summary

• Focused on developing patented technology to recycle used motor oil into high-quality Group II/III base oils, with a flagship Texas facility in advanced planning stages.

• No revenues generated; operations funded by equity and debt financings, with ongoing efforts to secure project-level financing and offtake agreements.

• Net loss of $1,052,310 for Q1 2025, reflecting continued investment in development and reduced operating expenses year-over-year.

• Working capital deficit of $3,906,570 as of March 31, 2025, raising substantial going concern uncertainty.

Financial highlights

• Net loss for Q1 2025 was $1,052,310, compared to $1,532,210 in Q1 2024.

• Total comprehensive loss for Q1 2025 was $1,048,482.

• Cash decreased by $235,377 during Q1 2025, ending at $44,835.

• Expenses for Q1 2025 were $776,696, down from $1,289,727 in Q1 2024, mainly due to lower plant engineering, salaries, and professional fees.

• Accumulated deficit reached $123,373,310 as of March 31, 2025.

Outlook and guidance

• Management expects further losses as development continues and current funds are insufficient for the next 12 months.

• Ongoing efforts to secure project financing, offtake agreements, and additional equity or debt funding.

• Anticipated onstream date for Texas facility is 24–30 months after final investment decision, pending financing.