SEC Comment Letter 0000000000-23-000987 to AMERICAN BATTERY TECHNOLOGY Co (ABAT)
AMERICAN BATTERY TECHNOLOGY Co
Date: Jan. 31, 2023 · CIK: 0001576873 · Accession: 0000000000-23-000987
AI Filing Summary & Sentiment
File numbers found in text: 000-55088
Letter
United States securities and exchange commission logo January 31, 2023 Kimberly Eckert Chief Financial Officer American Battery Technology Company 100 Washington Street, Suite 100 Reno, NV 89503 Re:American Battery Technology Company Form 10-K for the Fiscal Year Ended June 30, 2022 Filed September 12, 2022 File No. 000-55088 Dear Kimberly Eckert: We have reviewed your filing and have the following comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure. Please respond to these comments within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comments apply to your facts and circumstances, please tell us why in your response. After reviewing your response to these comments, we may have additional comments. Form 10-K for the Fiscal Year Ended June 30, 2022 Item 1. Business Industry Collaborations, page 7 1.You disclose that you along with Dupont Water Solutions were awarded a $4.5 million competitive grant from the US Department of Energy's Advanced Manufacturing Office and at page 6 that you also received, as a co-grantee, a $2 million grant award from the US Advanced Battery Consortium in October 2021. Disclosure in your most recent Form 10-Q appears to indicate that you have only received or were entitled to receive $0.3 million of these amounts as of the quarter ended September 30, 2022. Please address the following points:
•Clarify the amounts you have received for each of these grants for the year ended June 30, 2022 and the quarter ended September 30, 2022 and to date,
FirstName LastNameKimberly Eckert Comapany NameAmerican Battery Technology Company January 31, 2023 Page 2 FirstName LastName Kimberly Eckert American Battery Technology Company January 31, 2023 Page 2
•Disclose where the amounts received, if any, are captured in your statement of cash flows, and •For each of these grants, disclose the total amounts that you are entitled to and any conditions or requirements that must be fulfilled to receive these amounts. 2.We note disclosure in two Form 8-Ks filed on October 21, 2022 and November 17, 2022 that you, in collaboration with grant partners DuPont Water Solutions, University of Nevada, Reno, and Argonne National Laboratory, were awarded $57 million towards a project from the U.S. Department of Energy and a $10 million grant under the Bipartisan Infrastructure Law. Explain how these grants are related, and for each of these grants, disclose the amounts that ABTC is entitled to and any conditions or requirements that must be fulfilled to receive these amounts. We remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. You may contact Joanna Lam, Staff Accountant at 202-551-3476 or Craig Arakawa, Branch Chief at 202-551-3650 if you have questions regarding comments on the financial statements and related matters. Sincerely, Division of Corporation Finance Office of Energy & Transportation
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United States securities and exchange commission logo
January 31, 2023
Kimberly Eckert
Chief Financial Officer
American Battery Technology Company
100 Washington Street, Suite 100
Reno, NV 89503
Re:American Battery Technology Company
Form 10-K for the Fiscal Year Ended June 30, 2022
Filed September 12, 2022
File No. 000-55088
Dear Kimberly Eckert:
We have reviewed your filing and have the following comments. In some of our
comments, we may ask you to provide us with information so we may better understand your
disclosure.
Please respond to these comments within ten business days by providing the requested
information or advise us as soon as possible when you will respond. If you do not believe our
comments apply to your facts and circumstances, please tell us why in your response.
After reviewing your response to these comments, we may have additional comments.
Form 10-K for the Fiscal Year Ended June 30, 2022
Item 1. Business
Industry Collaborations, page 7
1.You disclose that you along with Dupont Water Solutions were awarded a $4.5 million
competitive grant from the US Department of Energy's Advanced Manufacturing Office
and at page 6 that you also received, as a co-grantee, a $2 million grant award from the
US Advanced Battery Consortium in October 2021. Disclosure in your most recent Form
10-Q appears to indicate that you have only received or were entitled to receive $0.3
million of these amounts as of the quarter ended September 30, 2022. Please address the
following points:
•Clarify the amounts you have received for each of these grants for the year ended
June 30, 2022 and the quarter ended September 30, 2022 and to date,
FirstName LastNameKimberly Eckert
Comapany NameAmerican Battery Technology Company
January 31, 2023 Page 2
FirstName LastName
Kimberly Eckert
American Battery Technology Company
January 31, 2023
Page 2
•Disclose where the amounts received, if any, are captured in your statement of cash
flows, and
•For each of these grants, disclose the total amounts that you are entitled to and any
conditions or requirements that must be fulfilled to receive these amounts.
2.We note disclosure in two Form 8-Ks filed on October 21, 2022 and November 17, 2022
that you, in collaboration with grant partners DuPont Water Solutions, University of
Nevada, Reno, and Argonne National Laboratory, were awarded $57 million towards a
project from the U.S. Department of Energy and a $10 million grant under the Bipartisan
Infrastructure Law. Explain how these grants are related, and for each of these grants,
disclose the amounts that ABTC is entitled to and any conditions or requirements that
must be fulfilled to receive these amounts.
We remind you that the company and its management are responsible for the accuracy
and adequacy of their disclosures, notwithstanding any review, comments, action or absence of
action by the staff.
You may contact Joanna Lam, Staff Accountant at 202-551-3476 or Craig Arakawa,
Branch Chief at 202-551-3650 if you have questions regarding comments on the financial
statements and related matters.
Sincerely,
Division of Corporation Finance
Office of Energy & Transportation