BCHT · Birchtech Corp.
The latest filing states the doubt was alleviated.
“As disclosed in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, the Company had previously identified conditions that raised substantial doubt about its ability to continue as a going concern. Subsequent to year end, on February 27, 2026 and March 17, 2026 (following the partial exercise of the underwriters' overallotment option), the Company completed an underwritten public offering of its common stock and received aggregate gross proceeds of $16.4 million, before deducting underwriting discounts and commissions and offering expenses. Based on the net proceeds from the offering, together with the Company's existing cash, anticipated revenues and additional cash inflows from its current operations, management believes that the Company has sufficient liquidity to fund its operations and meet its obligations for at least the next twelve months and that the conditions giving rise to the previously disclosed substantial doubt have been alleviated.”View the 10-Q filed Aug 13, 2026
One customer — 47% of revenue (the three month period ended June 30, 2026)
“For the three month period ended June 30, 2026, two customers represented 47%, and 12% of the Company’s revenues”
2 customers — 37% of revenue (the six month period ended June 30, 2026)
“For the six month period ended June 30, 2026, two customers represented 37%, and 16% of the Company’s revenues”
One customer — 16% of revenue (the six month period ended June 30, 2026)
“For the six month period ended June 30, 2026, two customers represented 37%, and 16% of the Company’s revenues”
One customer — 12% of revenue (the three month period ended June 30, 2026)
“For the three month period ended June 30, 2026, two customers represented 47%, and 12% of the Company’s revenues”
One customer — 49% of receivables (At June 30, 2026)
“At June 30, 2026, two customers represented 49%, and 10% of the Company’s accounts receivable”
One customer — 10% of receivables (At June 30, 2026)
“At June 30, 2026, two customers represented 49%, and 10% of the Company’s accounts receivable”
Trades by corporate insiders — officers, directors and holders of more than 10% of the shares — disclosed to the SEC on Forms 4 and 5. Form 3 supplies initial ownership rather than a trade; Form 4 must be filed within two business days of the trade.
| Date | Insider | Role | Type | Security | Shares |
|---|---|---|---|---|---|
| 2026-05-01 | Mioska Michael David |
Chief Financial Officer |
Other↑
|
No Securities Owned
|
0 |
| 2026-02-27 | MacPherson Richard |
Director, President and CEO, 10% Owner |
Buy↑
Filing footnotes — Common Stock (Direct)
Reflects shares of the Issuer's common stock purchased for an aggregate of $750,000 which were purchased by the Reporting Person in a public offering of 6,250,000 shares of the Issuer's common stock at a purchase price of $2.40 per share which closed on February 27, 2026. Share amount reflects the Issuer's 1-for-5 reverse stock split effective December 26, 2025. |
Common Stock
|
312,500 |
| 2025-12-12 | MacPherson Richard |
Director, President and CEO, 10% Owner |
Tax↓
Filing footnotes — Common Stock (Direct)
Reflects shares of the Issuer's common stock acquired by the Reporting Person through the cashless exercise of an option to acquire 500,000 shares of common stock, pursuant to which 310,427 shares were withheld by the Issuer with a VWAP of $0.9342 per share to pay the exercise price of $0.58 per share, resulting in 189,573 shares of common stock being issued to the Reporting Person on a net basis. |
Common Stock
|
310,427 |
| 2025-12-12 | Kaye David M |
Director |
Convert↓
|
Stock Option (Right to Buy)
|
250,000 |
| 2025-12-12 | Kaye David M |
Director |
Convert↑
Filing footnotes — Common Stock (Direct)
Reflects shares of the Issuer's common stock acquired by the Reporting Person through the cashless exercise of an option to acquire 250,000 shares of common stock, pursuant to which 155,214 shares were withheld by the Issuer with a VWAP of $0.9342 per share to pay the exercise price of $0.58 per share, resulting in 94,786 shares of common stock being issued to the Reporting Person on a net basis. |
Common Stock
|
250,000 |
| 2025-12-12 | Kaye David M |
Director |
Tax↓
Filing footnotes — Common Stock (Direct)
Reflects shares of the Issuer's common stock acquired by the Reporting Person through the cashless exercise of an option to acquire 250,000 shares of common stock, pursuant to which 155,214 shares were withheld by the Issuer with a VWAP of $0.9342 per share to pay the exercise price of $0.58 per share, resulting in 94,786 shares of common stock being issued to the Reporting Person on a net basis. |
Common Stock
|
155,214 |
| 2025-12-12 | MacPherson Richard |
Director, President and CEO, 10% Owner |
Convert↑
Filing footnotes — Common Stock (Direct)
Reflects shares of the Issuer's common stock acquired by the Reporting Person through the cashless exercise of an option to acquire 500,000 shares of common stock, pursuant to which 310,427 shares were withheld by the Issuer with a VWAP of $0.9342 per share to pay the exercise price of $0.58 per share, resulting in 189,573 shares of common stock being issued to the Reporting Person on a net basis. |
Common Stock
|
500,000 |
| 2025-12-12 | MacPherson Richard |
Director, President and CEO, 10% Owner |
Convert↓
|
Stock Option (Right to Buy)
|
500,000 |
| 2025-12-11 | Pavlish John |
Senior VP/Chief Tech Officer |
Convert↓
|
Stock Option (Right to Buy)
|
300,000 |
| 2025-12-11 | Pavlish John |
Senior VP/Chief Tech Officer |
Tax↓
Filing footnotes — Common Stock (Direct)
Reflects shares of the Issuer's common stock acquired by the Reporting Person through the cashless exercise of an option covering 300,000 shares (from an option to purchase up to 500,000 shares), pursuant to which 190,560 shares were withheld by the Issuer with a VWAP of $0.9131 per share to pay the exercise price of $0.58 per share, resulting in 109,440 shares of common stock being issued to the Reporting Person on a net basis. |
Common Stock
|
190,560 |
| 2025-12-11 | Pavlish John |
Senior VP/Chief Tech Officer |
Convert↑
Filing footnotes — Common Stock (Direct)
Reflects shares of the Issuer's common stock acquired by the Reporting Person through the cashless exercise of an option covering 300,000 shares (from an option to purchase up to 500,000 shares), pursuant to which 190,560 shares were withheld by the Issuer with a VWAP of $0.9131 per share to pay the exercise price of $0.58 per share, resulting in 109,440 shares of common stock being issued to the Reporting Person on a net basis. |
Common Stock
|
300,000 |
| 2025-06-20 | Pavlish John |
Senior VP/Chief Tech Officer |
Tax↓
Filing footnotes — Common Stock (Direct)
Reflects shares of the Issuer's common stock acquired by the Reporting Person through the cashless exercise of an option to acquire 500,000 shares of common stock, pursuant to which 181,022 shares were withheld by the Issuer with a VWAP of $0.5248 per share to pay the exercise price of $0.19 per share, resulting in 318,978 shares of common stock being issued to the Reporting Person on a net basis. |
Common Stock
|
181,022 |
| 2025-06-20 | MacPherson Richard |
Director, President and CEO, 10% Owner |
Tax↓
Filing footnotes — Common Stock (Direct)
Reflects shares of the Issuer's common stock acquired by the Reporting Person through the cashless exercise of an option to acquire 500,000 shares of common stock, pursuant to which 181,022 shares were withheld by the Issuer with a VWAP of $0.5248 per share to pay the exercise price of $0.19 per share, resulting in 318,978 shares of common stock being issued to the Reporting Person on a net basis. |
Common Stock
|
181,022 |
| 2025-06-20 | MacPherson Richard |
Director, President and CEO, 10% Owner |
Convert↑
Filing footnotes — Common Stock (Direct)
Reflects shares of the Issuer's common stock acquired by the Reporting Person through the cashless exercise of an option to acquire 500,000 shares of common stock, pursuant to which 181,022 shares were withheld by the Issuer with a VWAP of $0.5248 per share to pay the exercise price of $0.19 per share, resulting in 318,978 shares of common stock being issued to the Reporting Person on a net basis. |
Common Stock
|
500,000 |
| 2025-06-20 | MacPherson Richard |
Director, President and CEO, 10% Owner |
Convert↓
|
Stock Option (Right to Buy)
|
500,000 |
| 2025-06-20 | Pavlish John |
Senior VP/Chief Tech Officer |
Convert↓
|
Stock Option (Right to Buy)
|
500,000 |
| 2025-06-20 | Pavlish John |
Senior VP/Chief Tech Officer |
Convert↑
Filing footnotes — Common Stock (Direct)
Reflects shares of the Issuer's common stock acquired by the Reporting Person through the cashless exercise of an option to acquire 500,000 shares of common stock, pursuant to which 181,022 shares were withheld by the Issuer with a VWAP of $0.5248 per share to pay the exercise price of $0.19 per share, resulting in 318,978 shares of common stock being issued to the Reporting Person on a net basis. |
Common Stock
|
500,000 |
| 2025-01-09 | Coogler Mitzi H |
Director |
Award↑
|
Stock Option (Right to Buy)
|
100,000 |
| 2024-06-24 | Pavlish John |
Senior VP/Chief Tech Officer |
Tax↓
Filing footnotes — Common Stock (Direct)
Reflects shares of the Issuer's common stock acquired by the Reporting Person through the cashless exercise of an option to acquire 600,000 shares of common stock, pursuant to which 245,418 shares were withheld by the Issuer with a VWAP of $0.6601 per share to pay the exercise price of $0.27 per share, resulting in 354,582 shares of common stock being issued to the Reporting Person on a net basis. |
Common Stock
|
245,418 |
| 2024-06-24 | Pavlish John |
Senior VP/Chief Tech Officer |
Convert↑
Filing footnotes — Common Stock (Direct)
Reflects shares of the Issuer's common stock acquired by the Reporting Person through the cashless exercise of an option to acquire 1,000,000 shares of common stock, pursuant to which 681,715 shares were withheld by the Issuer with a VWAP of $0.6601 per share to pay the exercise price of $0.45 per share, resulting in 318,285 shares of common stock being issued to the Reporting Person on a net basis. |
Common Stock
|
1,000,000 |
| 2024-06-24 | Pavlish John |
Senior VP/Chief Tech Officer |
Convert↑
Filing footnotes — Common Stock (Direct)
Reflects shares of the Issuer's common stock acquired by the Reporting Person through the cashless exercise of an option to acquire 600,000 shares of common stock, pursuant to which 245,418 shares were withheld by the Issuer with a VWAP of $0.6601 per share to pay the exercise price of $0.27 per share, resulting in 354,582 shares of common stock being issued to the Reporting Person on a net basis. |
Common Stock
|
600,000 |
| 2024-06-24 | Pavlish John |
Senior VP/Chief Tech Officer |
Tax↓
Filing footnotes — Common Stock (Direct)
Reflects shares of the Issuer's common stock acquired by the Reporting Person through the cashless exercise of an option to acquire 1,000,000 shares of common stock, pursuant to which 681,715 shares were withheld by the Issuer with a VWAP of $0.6601 per share to pay the exercise price of $0.45 per share, resulting in 318,285 shares of common stock being issued to the Reporting Person on a net basis. |
Common Stock
|
681,715 |
| 2024-06-24 | Pavlish John |
Senior VP/Chief Tech Officer |
Convert↓
|
Stock Option (Right to Buy)
|
600,000 |
| 2024-06-24 | Pavlish John |
Senior VP/Chief Tech Officer |
Convert↓
|
Stock Option (Right to Buy)
|
1,000,000 |
| 2024-06-24 | MacPherson Richard |
Director, President and CEO, 10% Owner |
Convert↓
|
Stock Option (Right to Buy)
|
1,500,000 |
| 2024-06-24 | MacPherson Richard |
Director, President and CEO, 10% Owner |
Convert↑
Filing footnotes — Common Stock (Direct)
Reflects shares of the Issuer's common stock acquired by the Reporting Person through the cashless exercise of an option to acquire 1,500,000 shares of common stock, pursuant to which 613,544 shares were withheld by the Issuer with a VWAP of $0.6601 per share to pay the exercise price of $0.27 per share, resulting in 886,456 shares of common stock being issued to the Reporting Person on a net basis. |
Common Stock
|
1,500,000 |
| 2024-06-24 | MacPherson Richard |
Director, President and CEO, 10% Owner |
Tax↓
Filing footnotes — Common Stock (Direct)
Reflects shares of the Issuer's common stock acquired by the Reporting Person through the cashless exercise of an option to acquire 1,500,000 shares of common stock, pursuant to which 613,544 shares were withheld by the Issuer with a VWAP of $0.6601 per share to pay the exercise price of $0.27 per share, resulting in 886,456 shares of common stock being issued to the Reporting Person on a net basis. |
Common Stock
|
613,544 |
| 2024-01-15 | MacPherson Richard |
Director, President and CEO, 10% Owner |
Award↑
|
Stock Option (Right to Buy)
|
300,000 |
| 2024-01-15 | Pavlish John |
Senior VP/Chief Tech Officer |
Award↑
|
Stock Option (Right to Buy)
|
100,000 |
| 2024-01-15 | Fitzmaurice Fiona |
Chief Financial Officer |
Award↑
|
Stock Option (Right to Buy)
|
25,000 |
| 2024-01-15 | Greenberg Christopher |
Director, Chairman of the Board |
Award↑
|
Stock Option (Right to Buy)
|
200,000 |
| 2024-01-15 | Grant Troy J |
Director |
Award↑
Filing footnotes — Common Stock (Direct)
Represents shares of the Issuer's common stock underlying restricted share units ("RSUs") granted on January 15, 2024. The RSUs are scheduled to vest one year from the grant date, January 15, 2025, and shall be settled 100% in shares of the Issuer's common stock. The reporting person does not intend to report the vesting of the RSUs nor the delivery of the shares of common stock. |
Common Stock
|
50,000 |
| 2024-01-15 | Kaye David M |
Director |
Award↑
|
Stock Option (Right to Buy)
|
100,000 |
| 2024-01-15 | Trettel James |
Vice President of Operations |
Award↑
|
Stock Option (Right to Buy)
|
200,000 |
| 2023-12-11 | Pavlish John |
Senior VP/Chief Tech Officer |
Convert↑
Filing footnotes — Common Stock (Direct)
Reflects shares of the Issuer's common stock acquired by the Reporting Person through the cashless exercise of an option to acquire 13,750 shares of common stock, pursuant to which 3,472 shares were withheld by the Issuer with a VWAP of $0.9902 per share to pay the exercise price of $0.25 per share, resulting in 10,278 shares of common stock being issued to the Reporting Person on a net basis. |
Common Stock
|
13,750 |
| 2023-12-11 | Kaye David M |
Director |
Convert↑
Filing footnotes — Common Stock (Direct)
Reflects shares of the Issuer's common stock acquired by the Reporting Person through the cashless exercise of an option to acquire 6,250 shares of common stock, pursuant to which 1,578 shares were withheld by the Issuer with a VWAP of $0.9902 per share to pay the exercise price of $0.25 per share, resulting in 4,672 shares of common stock being issued to the Reporting Person on a net basis. |
Common Stock
|
6,250 |
| 2023-12-11 | Pavlish John |
Senior VP/Chief Tech Officer |
Tax↓
Filing footnotes — Common Stock (Direct)
Reflects shares of the Issuer's common stock acquired by the Reporting Person through the cashless exercise of an option to acquire 13,750 shares of common stock, pursuant to which 3,472 shares were withheld by the Issuer with a VWAP of $0.9902 per share to pay the exercise price of $0.25 per share, resulting in 10,278 shares of common stock being issued to the Reporting Person on a net basis. |
Common Stock
|
3,472 |
| 2023-12-11 | Kaye David M |
Director |
Tax↓
Filing footnotes — Common Stock (Direct)
Reflects shares of the Issuer's common stock acquired by the Reporting Person through the cashless exercise of an option to acquire 6,250 shares of common stock, pursuant to which 1,578 shares were withheld by the Issuer with a VWAP of $0.9902 per share to pay the exercise price of $0.25 per share, resulting in 4,672 shares of common stock being issued to the Reporting Person on a net basis. |
Common Stock
|
1,578 |
| 2023-12-11 | Kaye David M |
Director |
Convert↓
|
Stock Option (Right to Buy)
|
6,250 |
| 2023-12-11 | Pavlish John |
Senior VP/Chief Tech Officer |
Convert↓
|
Stock Option (Right to Buy)
|
13,750 |
| 2023-11-30 | Pavlish John |
Senior VP/Chief Tech Officer |
Convert↓
|
Stock Option (Right to Buy)
|
13,750 |
| 2023-11-30 | Pavlish John |
Senior VP/Chief Tech Officer |
Tax↓
Filing footnotes — Common Stock (Direct)
Reflects shares of the Issuer's common stock acquired by the Reporting Person through the cashless exercise of an option to acquire 13,750 shares of common stock, pursuant to which 4,646 shares were withheld by the Issuer with a VWAP of $0.9768 per share to pay the exercise price of $0.33 per share, resulting in 9,104 shares of common stock being issued to the Reporting Person on a net basis. |
Common Stock
|
4,646 |
| 2023-11-30 | Kaye David M |
Director |
Convert↓
|
Stock Option (Right to Buy)
|
6,250 |
| 2023-11-30 | Kaye David M |
Director |
Convert↑
Filing footnotes — Common Stock (Direct)
Reflects shares of the Issuer's common stock acquired by the Reporting Person through the cashless exercise of an option to acquire 6,250 shares of common stock, pursuant to which 2,112 shares were withheld by the Issuer with a VWAP of $0.9768 per share to pay the exercise price of $0.33 per share, resulting in 4,138 shares of common stock being issued to the Reporting Person on a net basis. |
Common Stock
|
6,250 |
| 2023-11-30 | Kaye David M |
Director |
Tax↓
Filing footnotes — Common Stock (Direct)
Reflects shares of the Issuer's common stock acquired by the Reporting Person through the cashless exercise of an option to acquire 6,250 shares of common stock, pursuant to which 2,112 shares were withheld by the Issuer with a VWAP of $0.9768 per share to pay the exercise price of $0.33 per share, resulting in 4,138 shares of common stock being issued to the Reporting Person on a net basis. |
Common Stock
|
2,112 |
| 2023-11-30 | Pavlish John |
Senior VP/Chief Tech Officer |
Convert↑
Filing footnotes — Common Stock (Direct)
Reflects shares of the Issuer's common stock acquired by the Reporting Person through the cashless exercise of an option to acquire 13,750 shares of common stock, pursuant to which 4,646 shares were withheld by the Issuer with a VWAP of $0.9768 per share to pay the exercise price of $0.33 per share, resulting in 9,104 shares of common stock being issued to the Reporting Person on a net basis. |
Common Stock
|
13,750 |
| 2023-11-01 | Fitzmaurice Fiona |
Chief Financial Officer |
Other↑
|
No Securities Owned
|
0 |
| 2023-10-31 | MacPherson Richard |
Director, President and CEO, 10% Owner |
Convert↓
|
Stock Option (Right to Buy)
|
16,458 |
| 2023-10-31 | Pavlish John |
Senior VP/Chief Tech Officer |
Convert↓
|
Stock Option (Right to Buy)
|
13,750 |
| 2023-10-31 | Kaye David M |
Director |
Convert↓
|
Stock Option (Right to Buy)
|
6,250 |