2022 Q2 Form 10-Q Financial Statement

#000165495422006817 Filed on May 16, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1 2021 Q4

Balance Sheet

Concept 2022 Q2 2022 Q1 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $62.91M $50.10M $27.86M
YoY Change 87.22%
Cash & Equivalents $46.58M $26.38M $18.24M
Short-Term Investments $16.33M $23.72M $9.619M
Other Short-Term Assets $11.29M $8.828M $6.534M
YoY Change
Inventory $168.4K $135.8K $111.1K
Prepaid Expenses
Receivables $75.07M $68.92M $73.33M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $149.5M $128.1M $107.9M
YoY Change 35.33%
LONG-TERM ASSETS
Property, Plant & Equipment $1.698M $1.854M $2.012M
YoY Change 13.39%
Goodwill $36.02M $26.05M
YoY Change 51.69%
Intangibles $0.00
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.811M $7.603M $5.580M
YoY Change
Total Long-Term Assets $57.77M $58.46M $35.67M
YoY Change 81.52%
TOTAL ASSETS
Total Short-Term Assets $149.5M $128.1M $107.9M
Total Long-Term Assets $57.77M $58.46M $35.67M
Total Assets $207.3M $186.5M $143.6M
YoY Change 44.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $99.75M $89.99M $71.43M
YoY Change 2.17%
Accrued Expenses $8.163M $7.805M $5.739M
YoY Change 630.98%
Deferred Revenue
YoY Change
Short-Term Debt $2.757M $0.00 $1.898M
YoY Change
Long-Term Debt Due $159.2K $2.860M $2.860M
YoY Change
Total Short-Term Liabilities $157.9M $105.9M $89.07M
YoY Change 15.96%
LONG-TERM LIABILITIES
Long-Term Debt $22.39M $29.70M $30.78M
YoY Change
Other Long-Term Liabilities $2.552M $2.840M $1.443M
YoY Change
Total Long-Term Liabilities $24.94M $32.54M $32.22M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $157.9M $105.9M $89.07M
Total Long-Term Liabilities $24.94M $32.54M $32.22M
Total Liabilities $182.8M $138.4M $121.3M
YoY Change 54.01%
SHAREHOLDERS EQUITY
Retained Earnings -$175.2M -$128.7M -$111.4M
YoY Change 113.62%
Common Stock $20.61K $17.53M $18.43K
YoY Change -86.84%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.235M $41.26M $15.47M
YoY Change
Total Liabilities & Shareholders Equity $207.3M $186.5M $143.6M
YoY Change 44.47%

Cashflow Statement

Concept 2022 Q2 2022 Q1 2021 Q4

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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193079468 shares
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CY2021Q1 us-gaap Interest Expense
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CY2022Q1 crge Foreign Exchange Adjustments
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CY2021Q1 crge Foreign Exchange Adjustments
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CY2022Q1 crge Total Other Expenses Net
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CY2021Q1 crge Total Other Expenses Net
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CY2022Q1 us-gaap Income Loss From Subsidiaries Tax Expense Benefit
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CY2022Q1 crge Stock Based Compensation Expense Amount
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CY2022Q1 us-gaap Dividends Cash
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CY2022Q1 crge Series C Preferred Stock Member Amount
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CY2022Q1 crge Beneficial Conversion Feature Arising From Preferred Stock Amount
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CY2021Q1 us-gaap Income Taxes Paid Net
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CY2022Q1 us-gaap Nature Of Operations
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;"><strong>Note 1 Nature of operations</strong></p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">Charge Enterprises, Inc., through its subsidiaries (sometimes referred to herein as “we,” “us,” “our,” “Charge” or the “Company”) consists of a portfolio of global businesses with a vision to build the electrification and telecommunications infrastructure that will address and service requirements for EVC (“Electrical Vehicle Charging”) and WNI (“Wireless Network Infrastructure”) which includes 5G, tower, distributed antennae systems (“DAS”), small cell, and electrical infrastructure. </p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">The Company operates in two segments: Telecommunications, which provides connection of voice calls and data to global carriers and Infrastructure which builds physical wireless network elements, provides electrical construction services and designs and installs EV charging stations and infrastructure. Financial information about each business segment is contained in “Note 13- Reportable segments” to the consolidated financial statements.</p>
CY2022Q1 us-gaap Property Plant And Equipment Gross
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CY2021Q4 us-gaap Property Plant And Equipment Gross
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CY2022Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2022Q1 us-gaap Property Plant And Equipment Net
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CY2021Q4 us-gaap Property Plant And Equipment Net
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CY2022Q1 us-gaap Depreciation
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CY2021Q1 us-gaap Depreciation
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CY2022Q1 us-gaap Unrealized Gain On Securities
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CY2022Q1 crge Fair Value Of Assets
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110006 USD
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CY2022Q1 crge Realized Gains
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CY2021Q1 crge Net Gains Within Net Income From Investments On Statement Of Operations
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3401714 USD
CY2021Q1 crge Unrealized Losses
UnrealizedLosses
197464 USD
CY2021Q1 crge Realized Gains
RealizedGains
3204250 USD
CY2022Q1 us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
1231250 USD
CY2022Q1 us-gaap Accrued Liabilities Fair Value Disclosure
AccruedLiabilitiesFairValueDisclosure
18750 USD
CY2022Q1 us-gaap Asset Acquisition Contingent Consideration Liability
AssetAcquisitionContingentConsiderationLiability
6827 USD
CY2022Q1 us-gaap Common Stock Value
CommonStockValue
17530278 USD
CY2022Q1 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
18787105 USD
CY2022Q1 crge Convertible Notes Payable Amount
ConvertibleNotesPayableAmount
12498889 USD
CY2021 crge Convertible Notes Payable Amount
ConvertibleNotesPayableAmount
12565289 USD
CY2022Q1 crge Less Unamortized Discount And Debt Issue Costs
LessUnamortizedDiscountAndDebtIssueCosts
-4843907 USD
CY2021 crge Less Unamortized Discount And Debt Issue Costs
LessUnamortizedDiscountAndDebtIssueCosts
-5389693 USD
CY2022Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
7654982 USD
CY2021 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
7175597 USD
CY2022Q1 crge Interest Expenses Convertible Notes Payable
InterestExpensesConvertibleNotesPayable
247076 USD
CY2021Q4 crge Interest Expenses Convertible Notes Payable
InterestExpensesConvertibleNotesPayable
146467 USD
CY2022Q1 crge Debt Instrument Unamortized Discount Convertible Notes Payable
DebtInstrumentUnamortizedDiscountConvertibleNotesPayable
545786 USD
CY2021Q4 crge Debt Instrument Unamortized Discount Convertible Notes Payable
DebtInstrumentUnamortizedDiscountConvertibleNotesPayable
61874 USD
CY2022Q1 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
0 USD
CY2021Q4 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
7397 USD
CY2022Q1 crge Interest Expense And Amortization Of Debt Discount And Debt Issuance Costs
InterestExpenseAndAmortizationOfDebtDiscountAndDebtIssuanceCosts
792862 USD
CY2021Q4 crge Interest Expense And Amortization Of Debt Discount And Debt Issuance Costs
InterestExpenseAndAmortizationOfDebtDiscountAndDebtIssuanceCosts
215738 USD
CY2022Q1 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
175178 USD
CY2021Q4 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
183067 USD
CY2022Q1 crge Paycheck Protection Program Loans
PaycheckProtectionProgramLoans
2000000 USD
CY2022Q1 crge Interest Expenses
InterestExpenses
0 USD
CY2021Q4 crge Interest Expenses
InterestExpenses
6019 USD
CY2022Q1 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
0 USD
CY2021Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
95127 USD
CY2022Q1 crge Interest Expense And Amortization Of Debt Discount
InterestExpenseAndAmortizationOfDebtDiscount
0 USD
CY2021Q4 crge Interest Expense And Amortization Of Debt Discount
InterestExpenseAndAmortizationOfDebtDiscount
101146 USD
CY2020Q3 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
288889 USD
CY2022Q1 crge Korr Value Converted
KorrValueConverted
261111 USD
CY2022Q1 crge Paycheck Protection Program Loan
PaycheckProtectionProgramLoan
0 USD
CY2021Q4 crge Paycheck Protection Program Loan
PaycheckProtectionProgramLoan
2000000 USD
CY2022Q1 crge Notes Payable Issued
NotesPayableIssued
11860055 USD
CY2021Q4 crge Notes Payable Issued
NotesPayableIssued
11860055 USD
CY2022Q1 crge Notes Payable Issued December
NotesPayableIssuedDecember
15925926 USD
CY2021Q4 crge Notes Payable Issued December
NotesPayableIssuedDecember
15925926 USD
CY2022Q1 crge Unamortized Discount And Debt Issue Cost
UnamortizedDiscountAndDebtIssueCost
-3214648 USD
CY2021Q4 crge Unamortized Discount And Debt Issue Cost
UnamortizedDiscountAndDebtIssueCost
-3698458 USD
CY2022Q1 us-gaap Notes Payable
NotesPayable
24571333 USD
CY2021Q4 us-gaap Notes Payable
NotesPayable
26087523 USD
CY2021Q4 crge Paycheck Protection Program Loans
PaycheckProtectionProgramLoans
2000000 USD
CY2022Q1 crge Reimburse Sba Loan
ReimburseSBALoan
2000000 USD
CY2021Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
49947 USD
CY2022Q1 crge Capital Expenditures
CapitalExpenditures
34942 USD
CY2021Q1 crge Capital Expenditures
CapitalExpenditures
1355297 USD
CY2022Q1 crge Total Investments
TotalInvestments
23821546 USD
CY2022Q1 crge Interest Expense And Amortisation Debt Discount
InterestExpenseAndAmortisationDebtDiscount
<table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%"><tbody><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="6" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>Three months ended March 31,</strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>2022</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>2021</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Interest Expense </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">484,639</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">-</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Amortization of debt discount</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">483,810</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">-</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">   Total </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 3px double;width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">968,449</td><td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 3px double;width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">-</td><td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr></tbody></table><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">The accrued interest relating to the notes payable as of March 31, 2022 and December 2021 was $161,546 and $115,250, respectively.</p>
CY2022Q1 crge Interest Expenses C Onvertible Notes Payable Related Parties
InterestExpensesCOnvertibleNotesPayableRelatedParties
484639 USD
CY2021Q4 crge Interest Expenses C Onvertible Notes Payable Related Parties
InterestExpensesCOnvertibleNotesPayableRelatedParties
0 USD
CY2022Q1 crge Debt Instrument Unamortized Discount Notes Payable
DebtInstrumentUnamortizedDiscountNotesPayable
483810 USD
CY2021Q4 crge Debt Instrument Unamortized Discount Notes Payable
DebtInstrumentUnamortizedDiscountNotesPayable
0 USD
CY2022Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
968449 USD
CY2021Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
0 USD
CY2022Q1 crge Accrued Interest Notes
AccruedInterestNotes
161546 USD
CY2021Q4 crge Accrued Interest Notes
AccruedInterestNotes
115250 USD
CY2021 crge Description Of Provision
DescriptionOfProvision
provision expired on June 1, 2021
CY2021Q1 us-gaap Derivative Liabilities
DerivativeLiabilities
330 USD
CY2022Q1 us-gaap Sales Type Lease Revenue
SalesTypeLeaseRevenue
1100000 USD
CY2022Q1 crge Revenue From Telecommunications
RevenueFromTelecommunications
526662 USD
CY2021Q1 crge Revenue From Telecommunications
RevenueFromTelecommunications
689470 USD
CY2022Q1 crge Revenue From Infrastructure
RevenueFromInfrastructure
1636816 USD
CY2021Q1 crge Revenue From Infrastructure
RevenueFromInfrastructure
-468518 USD
CY2022Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
209054 USD
CY2021 crge Total Investments
TotalInvestments
9718743 USD
CY2022Q1 us-gaap Assets
Assets
186542475 USD
CY2021Q4 us-gaap Assets
Assets
143609512 USD
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
44920000 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.78
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2550000 shares
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
3.47
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
565000 shares
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
3.16
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
46905000 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.85
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
14737501 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
1.14
CY2022Q1 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P5Y1M24D
CY2022Q1 crge Unrecognized Costs Related To Stock Options Granted
UnrecognizedCostsRelatedToStockOptionsGranted
42426783 USD
CY2022Q1 us-gaap Time Deposits At Or Above Fdic Insurance Limit
TimeDepositsAtOrAboveFDICInsuranceLimit
250000 USD
CY2022Q1 us-gaap Time Deposit Liability Above Us Insurance Limit
TimeDepositLiabilityAboveUsInsuranceLimit
24111296 USD
CY2021Q4 us-gaap Time Deposit Liability Above Us Insurance Limit
TimeDepositLiabilityAboveUsInsuranceLimit
17503737 USD
CY2022Q1 crge Income Loss Before Income Tax Benefit
IncomeLossBeforeIncomeTaxBenefit
-14718191 USD
CY2021Q1 crge Income Loss Before Income Tax Benefit
IncomeLossBeforeIncomeTaxBenefit
-2761742 USD
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1578283 USD
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1182635 USD
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
-0.107 pure
CY2021Q1 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
-0.428 pure
CY2022Q2 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
8.50
CY2022Q2 crge Aggregate Purchase Price
AggregatePurchasePrice
10000025 USD

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