Stardust Power Inc., an American developer of battery-grade lithium products, has announced its financial results for the first quarter ending March 31, 2025. The company reported a net loss of $3.8 million, an increase from the $1.4 million loss in the same period in 2024. This increase was attributed primarily to higher general and administrative costs due to personnel-related expenses and finance charges for short-term loans. Net cash used in operating activities rose to $2.9 million, compared to $0.9 million for the prior year quarter, driven by continued investments in operations, the hiring of key talent, and expenses related to the close of the Business Combination. The company's cash and cash equivalents stood at approximately $1.6 million as of March 31, 2025, with no long-term debt reported. In terms of investing and financing activities, net cash used in investing activities was $1.0 million, significantly up from $3 thousand in the previous year, due to initial capital investments in building the refinery. Net cash provided by financing activities was $4.5 million, a substantial increase from $54 thousand in the prior year, mainly due to $8.0 million received from a public offering and warrant inducements, partially offset by a $3.7 million repayment of short-term loans. Operationally, Stardust Power confirmed that its Muskogee facility will not require an industrial wastewater permit, thanks to its closed-loop water system. Additionally, a key service agreement was executed with Oklahoma Gas and Electric to develop a dedicated substation at the Muskogee refinery site, securing up to 40MW of scalable power. The company also appointed Carlos Urquiaga as Senior Advisor to aid in capital-raising efforts, leveraging his extensive transaction experience in metals and mining finance.