Evolution Metals & Technologies Corp.
Business
Evolution Metals & Technologies Corp. is an integrated critical materials company focused on recycling end-of-life materials—including rare earth elements, battery metals, and precious metals—into finished products and intermediates. The company operates across feedstock processing, oxide production, metal and alloy manufacturing, powder production, rare earth magnet manufacturing, battery-grade materials, and precious metals recovery through owned Korean manufacturing facilities and a planned U.S. industrial campus. EM&T supplies rare earth magnets, battery materials, and processed metals to automotive, renewable energy, consumer electronics, and defense customers through a vertically integrated closed-loop recycling model combining urban mining, hydrometallurgical processing, and downstream manufacturing.
Summary from 10-K filed 2026-02-20
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| General and administrative | 2 | 1 | 2 | 3 | |
| Franchise tax | 92,400 | 154,785 | — | — | |
| Loss from operations | −2 | −2 | −2 | −3 | |
| Interest income from restricted cash held in trust account | 276,616 | 808,868 | 2 | 1 | |
| Reversal of prior year interest and penalties on excise tax liability | 13,509 | — | — | — | |
| Other income | 290,125 | 808,868 | 2 | 1 | |
| Loss before provision for income taxes | −2 | −773,977 | −54,322 | −2 | |
| Provision for income taxes | −38,685 | −125,950 | — | −180,688 | |
| Net loss | −2 | −899,927 | −54,322 | −2 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash | 4,022 | 1,185 | 6,760 | 309,881 | — | |
| Prepaid taxes | 141,227 | 14,077 | 833 | 25,000 | 332,633 | |
| Total current assets | 145,249 | 15,262 | 7,593 | 334,881 | — | |
| Restricted cash held in trust account | 6 | 12 | 24 | 80 | — | |
| TOTAL ASSETS | 7 | 12 | 24 | 80 | 77 | |
| Accounts payable and accrued expenses | 4 | 3 | 3 | — | — | |
| Income taxes payable | 186,609 | 125,950 | — | — | — | |
| Excise tax payable and interest and penalties | — | 719,090 | 583,520 | — | — | |
| Working capital loans related party | 3 | 2 | 549,100 | — | — | |
| Total current liabilities | 10 | 8 | 7 | 4 | 140,423 | |
| Deferred underwriting fee payable | 3 | 3 | 3 | 3 | — | |
| TOTAL LIABILITIES | 12 | 11 | 9 | 7 | 3 | |
| COMMITMENTS AND CONTINGENCIES (NOTE 6) | — | — | — | — | — | |
| Common Stock subject to possible redemption, $0.0001 par value, 564,337 shares at redemption value of $11.34 per share at December 31, 2025 and 1,082,789 shares at redemption value of $11.22 per share at December 31, 2024, respectively | 6 | 12 | 24 | 80 | — | |
| Preferred stock, $0.0001 par value; 1,000,000 shares authorized; 0 shares issued and outstanding at December 31, 2025 and 2024 | — | — | — | — | — | |
| Common stock; $0.0001 par value; 100,000,000 shares authorized; 2,283,976 shares issued and outstanding at December 31, 2025 and 2024 (excluding 564,337 shares at December 31, 2025 and 1,082,789 shares at December 31, 2024 subject to redemption) | 228 | 228 | 228 | 228 | 250 | |
| Additional paid-in capital | — | — | — | — | — | |
| Accumulated deficit | −12 | −11 | −9 | −6 | −1 | |
| TOTAL STOCKHOLDERS DEFICIT | −12 | −11 | −9 | −6 | −1 | |
| TOTAL LIABILITIES, REDEEMABLE COMMON STOCK, AND STOCKHOLDERS DEFICIT | 7 | 12 | 24 | 80 | 77 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Interest and penalties on excise tax payable | −13,509 | 13,509 | — | — | |
| Prepaid expenses | −16,500 | −13,244 | — | — | |
| Prepaid taxes | −110,650 | — | 24,167 | 307,633 | |
| Due to affiliates | 120,000 | 120,000 | 88,000 | — | |
| Accounts payable and accrued expenses | 697,770 | 83,317 | 1 | 2 | |
| Franchise tax payable | — | −80,000 | −83,384 | 102,634 | |
| Income taxes payable | 60,659 | 125,950 | −180,688 | 180,688 | |
| NET CASH USED IN OPERATING ACTIVITIES | −1 | −1 | −1 | −976,306 | |
| Cash withdrawn from Trust Account in connection with redemption | 6 | 12 | 58 | — | |
| Cash withdrawn from Trust Account to pay franchise and income taxes | 203,862 | 100,373 | — | — | |
| NET CASH PROVIDED BY INVESTING ACTIVITIES | 6 | 12 | 58 | −4 | |
| Redemption of common stock - due to stockholders | −6 | −12 | — | — | |
| Proceeds from working capital loans - related party | 1 | 1 | — | — | |
| NET CASH USED IN FINANCING ACTIVITIES | −5 | −11 | −57 | 4 | |
| NET CHANGE IN CASH AND RESTRICTED CASH | 2,837 | −167,024 | −354,854 | −677,893 | |
| Income taxes | — | 12,610 | 188,177 | — | |
| Franchise taxes | 203,862 | 249,985 | — | 85,232 | |
| Accretion for redeemable common stock to redemption value | 122,745 | 514,400 | — | — | |
| Reversal of excise tax payable attributable to redemption of common stock | 764,238 | — | — | — | |
| Excise tax on redemption of Class A common stock | 58,657 | 122,061 | 583,520 | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Evolution Metals & Technologies Corp.'s CIK number?
Evolution Metals & Technologies Corp.'s SEC CIK number is 0001866226 (1866226). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Evolution Metals & Technologies Corp.'s SEC filings?
All of Evolution Metals & Technologies Corp.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Evolution Metals & Technologies Corp. last report earnings?
Evolution Metals & Technologies Corp. (EMAT) most recently filed an earnings 8-K with the SEC on May 22, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001213900-26-060343). This is Evolution Metals & Technologies Corp.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Evolution Metals & Technologies Corp.'s most recent earnings 8-K?
Evolution Metals & Technologies Corp.'s latest earnings 8-K (Item 2.02) was filed May 22, 2026 under accession 0001213900-26-060343. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Evolution Metals & Technologies Corp.'s latest earnings 8-K →
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