Home / Going-concern warnings / 374Water Inc.
Filed 2025-11-12 路 Form 10-Q 路 Accession 0001654954-25-012910 micro
Price before filing: $3.81 (2025-11-11 close, split/dividend-adjusted)
Market cap at flag: $54.8M (2025-11-12) 路 Latest: $42.8M (2026-10-16)
| Window | SCWO | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | -27.0% | -0.2% | -26.9% | 2025-12-12 |
| 90 days | -25.2% | +1.6% | -26.8% | 2026-02-10 |
| 180 days | -41.7% | +8.9% | -50.6% | 2026-05-11 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: 1 insider sold $1.8M (14 sales); 4 insiders bought $73K (7 purchases)
30 days after: none reported.
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2025-08-18 | Mandel Peter General Counsel | Purchase | 20 | $0.25 | $5 | no | Form 4 |
| 2025-08-19 | Mandel Peter General Counsel | Purchase | 4,980 | $0.25 | $1K | no | Form 4 |
| 2025-08-20 | Russell Kline Chief Financial Officer | Purchase | 20,000 | $0.24 | $5K | no | Form 4 |
| 2025-08-21 | Russell Kline Chief Financial Officer | Purchase | 15,000 | $0.25 | $4K | no | Form 4 |
| 2025-08-22 | Russell Kline Chief Financial Officer | Purchase | 15,000 | $0.25 | $4K | no | Form 4 |
| 2025-08-25 | Pawloski James Director | Purchase | 193,300 | $0.26 | $51K | no | Form 4 |
| 2025-08-26 | Estes Deanna Rene Director | Purchase | 30,000 | $0.29 | $9K | no | Form 4 |
| 2025-08-29 | Nagar Yaacov 10% owner | Sale | 22,711 | $0.39 | $9K | no | Form 4 |
| 2025-09-05 | Nagar Yaacov 10% owner | Sale | 122,439 | $0.39 | $48K | no | Form 4 |
| 2025-09-08 | Nagar Yaacov 10% owner | Sale | 54,850 | $0.40 | $22K | no | Form 4 |
| 2025-10-07 | Nagar Yaacov 10% owner | Sale | 1,000 | $0.39 | $390 | no | Form 4 |
| 2025-10-08 | Nagar Yaacov 10% owner | Sale | 1,499,000 | $0.46 | $696K | no | Form 4 |
| 2025-10-14 | Nagar Yaacov 10% owner | Sale | 700,000 | $0.52 | $361K | no | Form 4 |
| 2025-10-15 | Nagar Yaacov 10% owner | Sale | 363,868 | $0.52 | $188K | no | Form 4 |
| 2025-10-16 | Nagar Yaacov 10% owner | Sale | 85,419 | $0.51 | $44K | no | Form 4 |
| 2025-10-17 | Nagar Yaacov 10% owner | Sale | 131,680 | $0.42 | $56K | no | Form 4 |
| 2025-10-20 | Nagar Yaacov 10% owner | Sale | 13,330 | $0.42 | $6K | no | Form 4 |
| 2025-10-21 | Nagar Yaacov 10% owner | Sale | 284,394 | $0.42 | $120K | no | Form 4 |
| 2025-10-22 | Nagar Yaacov 10% owner | Sale | 61,000 | $0.42 | $26K | no | Form 4 |
| 2025-10-22 | Nagar Yaacov 10% owner | Sale | 32,791 | $0.42 | $14K | no | Form 4 |
| 2025-10-23 | Nagar Yaacov 10% owner | Sale | 473,211 | $0.43 | $205K | no | Form 4 |
| 2025-11-12: red flag filed | |||||||
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-08-14 to 2025-12-12. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"These conditions raise substantial doubt regarding our ability to continue as a going concern."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Source: management disclosure in Form 10-Q (period 2025-09-30)
Why this score: quarterly (unaudited) disclosure
Read the original filing on SEC.gov →
Not investment advice. Automated summary; verify against the filing.
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