2023 Q4 Form 10-Q Financial Statement

#000182912623007376 Filed on November 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q4
Revenue $1.506M $1.264M $1.957M
YoY Change -23.05% -47.31% -32.57%
Cost Of Revenue $12.44M $2.456M $2.455M
YoY Change 406.8% 5.0% -10.52%
Gross Profit -$10.94M -$1.192M -$498.0K
YoY Change 2095.98% -2086.67% -414.5%
Gross Profit Margin -726.16% -94.3% -25.45%
Selling, General & Admin $6.732M $8.916M $9.258M
YoY Change -27.28% 8.69% -35.34%
% of Gross Profit
Research & Development $3.957M $2.131M $2.458M
YoY Change 60.98% -16.33% 24.17%
% of Gross Profit
Depreciation & Amortization $116.0K $900.0K $651.0K
YoY Change -82.18% 200.0% -9.25%
% of Gross Profit
Operating Expenses $10.69M $11.05M $11.72M
YoY Change -8.77% 2.76% -28.11%
Operating Profit -$25.70M -$11.66M -$50.08M
YoY Change -48.69% 5.09% 200.63%
Interest Expense -$53.00K -$10.00K $21.00K
YoY Change -352.38% -69.7% -132.22%
% of Operating Profit
Other Income/Expense, Net -$19.00K -$123.0K $4.000K
YoY Change -575.0% -12400.0% -106.4%
Pretax Income -$25.73M -$11.93M -$47.93M
YoY Change -46.31% -0.91% 385.26%
Income Tax -$1.000K -$80.00K -$307.0K
% Of Pretax Income
Net Earnings -$25.73M -$11.85M -$47.63M
YoY Change -45.97% 3.3% 428.82%
Net Earnings / Revenue -1708.63% -937.18% -2433.57%
Basic Earnings Per Share -$12.04 -$0.20 -$0.92
Diluted Earnings Per Share -$12.04 -$0.20 -$0.92
COMMON SHARES
Basic Shares Outstanding 62.53M shares 59.98M shares 51.72M shares
Diluted Shares Outstanding 2.137M shares 60.37M shares 51.72M shares

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.562M $3.700M $32.87M
YoY Change -89.16% -91.28% -58.79%
Cash & Equivalents $3.562M $3.661M $32.87M
Short-Term Investments
Other Short-Term Assets $1.105M $2.280M $2.292M
YoY Change -51.79% -33.1% -51.57%
Inventory $2.707M $13.91M $12.62M
Prepaid Expenses $1.149M $750.0K $688.0K
Receivables $191.0K $833.0K $979.0K
Other Receivables $1.015M $2.100M $2.158M
Total Short-Term Assets $8.835M $23.52M $49.50M
YoY Change -82.15% -61.66% -49.15%
LONG-TERM ASSETS
Property, Plant & Equipment $21.55M $24.26M $17.94M
YoY Change 20.13% 148.95% 108.95%
Goodwill $5.742M
YoY Change -80.86%
Intangibles $79.00K $1.789M $6.062M
YoY Change -98.7% -91.62% -74.03%
Long-Term Investments
YoY Change
Other Assets $308.0K $1.023M $5.971M
YoY Change -94.84% -64.94% 141.22%
Total Long-Term Assets $25.90M $31.88M $40.09M
YoY Change -35.39% -51.81% -38.96%
TOTAL ASSETS
Total Short-Term Assets $8.835M $23.52M $49.50M
Total Long-Term Assets $25.90M $31.88M $40.09M
Total Assets $34.74M $55.40M $89.59M
YoY Change -61.23% -56.55% -45.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.087M $6.134M $4.680M
YoY Change 8.7% 68.98% -3.25%
Accrued Expenses $831.0K $1.139M $1.522M
YoY Change -45.4% -33.74% -74.22%
Deferred Revenue $2.015M $712.0K $1.019M
YoY Change 97.74% -41.69% -7.36%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $11.91M $12.82M $13.67M
YoY Change -12.83% -8.61% -27.58%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $684.0K $700.0K $852.0K
YoY Change -19.72% 16.67% -14.43%
Total Long-Term Liabilities $9.376M $10.00M $11.77M
YoY Change -20.37% 64.61% -15.65%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.91M $12.82M $13.67M
Total Long-Term Liabilities $9.376M $10.00M $11.77M
Total Liabilities $21.29M $22.82M $25.44M
YoY Change -16.32% 13.52% -22.51%
SHAREHOLDERS EQUITY
Retained Earnings -$179.2M -$153.4M -$107.8M
YoY Change 66.25% 155.13% 222.4%
Common Stock $8.000K $6.000K $5.000K
YoY Change 60.0% 20.0% -2.44%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $13.45M $32.58M $64.15M
YoY Change
Total Liabilities & Shareholders Equity $34.74M $55.40M $89.59M
YoY Change -61.23% -56.55% -45.05%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q4
OPERATING ACTIVITIES
Net Income -$25.73M -$11.85M -$47.63M
YoY Change -45.97% 3.3% 428.82%
Depreciation, Depletion And Amortization $116.0K $900.0K $651.0K
YoY Change -82.18% 200.0% -9.25%
Cash From Operating Activities -$5.777M -$7.440M $41.00K
YoY Change -14190.24% 164.77% -100.37%
INVESTING ACTIVITIES
Capital Expenditures $145.0K $880.0K $7.978M
YoY Change -98.18% -200.92% -723.46%
Acquisitions
YoY Change
Other Investing Activities $256.0K -$40.00K -$2.554M
YoY Change -110.02% -544.44% 827.58%
Cash From Investing Activities $111.0K -$920.0K -$10.53M
YoY Change -101.05% 6.6% 577.32%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.571M 2.080M 1.000K
YoY Change 357000.0% -5173.17% -79.55%
NET CHANGE
Cash From Operating Activities -5.777M -7.440M 41.00K
Cash From Investing Activities 111.0K -920.0K -10.53M
Cash From Financing Activities 3.571M 2.080M 1.000K
Net Change In Cash -2.095M -6.280M -10.49M
YoY Change -80.03% 69.09% -17.38%
FREE CASH FLOW
Cash From Operating Activities -$5.777M -$7.440M $41.00K
Capital Expenditures $145.0K $880.0K $7.978M
Free Cash Flow -$5.922M -$8.320M -$7.937M
YoY Change -25.39% 329.31% -19.56%

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<p id="xdx_80B_eus-gaap--BasisOfAccounting_zvTINJd4Jgdh" style="margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_823_zWT1VnoCAQ1b">Basis of presentation</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Overview</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Advent Technologies Holdings, Inc. and its subsidiaries (collectively referred to as “Advent” or the “Company”) is an advanced materials and technology development company operating in the fuel cell and hydrogen technology space. Advent develops, manufactures and assembles the critical components that determine the performance of hydrogen fuel cells and other energy systems. To date, Advent’s principal operations have been to develop and manufacture Membrane Electrode Assembly (MEA), and fuel cell stacks and complete fuel cell systems for a range of customers in the stationary power, portable power, automotive, aviation, energy storage and sensor markets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Advent has its headquarters in Boston, Massachusetts, which includes a research and development and manufacturing facility, a product development facility in Livermore, California, production facilities in Greece, Denmark, and Germany, and sales and warehousing facilities in the Philippines.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On February 4, 2021 (“Closing Date”), AMCI Acquisition Corp. (“AMCI”), consummated the business combination (the “Business Combination”) pursuant to that certain merger agreement (the “Agreement and Plan of Merger”), dated October 12, 2020, by and among AMCI, AMCI Merger Sub Corp., a Delaware corporation and newly formed wholly-owned subsidiary of AMCI (“Merger Sub”), AMCI Sponsor LLC (the “Sponsor”), solely in the capacity as the representative from and after the effective time of the Business Combination for the stockholders of AMCI, Advent Technologies, Inc., a Delaware corporation (“Legacy Advent”), and Vassilios Gregoriou, solely in his capacity as the representative from and after the effective time for the Legacy Advent stockholders (the “Seller Representative”), as amended by Amendment No. 1 and Amendment No. 2 to the Agreement and Plan of Merger, dated as of October 19, 2020 and December 31, 2020, respectively, by and among AMCI, Merger Sub, Sponsor, Legacy Advent, and Seller Representative. In connection with the closing of the Business Combination (the “Closing” or “Closing Date”), AMCI acquired <span id="xdx_907_eus-gaap--BusinessAcquisitionPercentageOfVotingInterestsAcquired_iI_pid_c20210204__us-gaap--BusinessAcquisitionAxis__custom--AMCIAcquisitionCorpMember_zd5vZcBv6ug6" title="Acquired percentage">100%</span> of the stock of Legacy Advent (as it existed immediately prior to the Closing) and its subsidiaries.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On the Closing Date, and in connection with the closing of the Business Combination, AMCI changed its name to Advent Technologies Holdings, Inc. Legacy Advent was deemed the accounting acquirer in the Business Combination based on an analysis of the criteria outlined in Accounting Standards Codification (“ASC”) 805. This determination was primarily based on Legacy Advent’s stockholders prior to the Business Combination having a majority of the voting interests in the combined company, Legacy Advent’s operations comprising the ongoing operations of the combined company, Legacy Advent’s board of directors comprising a majority of the board of directors of the combined company, and Legacy Advent’s senior management comprising the senior management of the combined company. Accordingly, for accounting purposes, the Business Combination was treated as the equivalent of Legacy Advent issuing stock for the net assets of AMCI, accompanied by a recapitalization. The net assets of AMCI are stated at historical cost, with no goodwill or other intangible assets recorded.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">While AMCI was the legal acquirer in the Business Combination, because Legacy Advent was deemed the accounting acquirer, the historical financial statements of Legacy Advent became the historical financial statements of the combined company, upon the consummation of the Business Combination. As a result, the consolidated financial statements included in this report reflect (i) the historical operating results of Legacy Advent prior to the Business Combination; (ii) the results of the Company (combined results of AMCI and Legacy Advent) following the closing of the Business Combination; (iii) the assets and liabilities of Legacy Advent at their historical cost; and (iv) Company’s equity structure for all periods presented.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In accordance with guidance applicable to these circumstances, the equity structure has been restated in all comparative periods up to the Closing Date, to reflect the number of shares of the Company’s common stock, $<span id="xdx_902_eus-gaap--CommonStockParOrStatedValuePerShare_iI_pid_c20210204__us-gaap--BusinessAcquisitionAxis__custom--AMCIAcquisitionCorpMember_zReTbAeV4Wck" title="Common stock, par value (in dollars per share)">0.0001</span> par value per share (the “Common Stock”), issued to Legacy Advent’s stockholders in connection with the recapitalization transaction. As such, the shares and corresponding capital amounts and earnings per share related to Legacy Advent Preferred Stock (“Preferred Series A” and “Preferred Series Seed”) and Legacy Advent common stock prior to the Business Combination have been retroactively restated as shares reflecting the exchange ratio established in the Business Combination Agreement. Activity within the statement of changes in stockholders’ equity / (deficit) for the issuances of Legacy Advent’s Preferred Stock, were also retroactively converted to Legacy Advent common stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On February 18, 2021, Advent Technologies, Inc. entered into a Membership Interest Purchase Agreement with Bren-Tronics, Inc. (“Bren-Tronics”) and UltraCell, LLC (“UltraCell”), a Delaware limited liability company and a direct wholly owned subsidiary of Bren-Tronics.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">UltraCell LLC was renamed to Advent Technologies LLC following its acquisition by the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 25, 2021, the Company entered into a Share Purchase Agreement, with F.E.R. fischer Edelstahlrohre GmbH, a limited liability company incorporated under the Laws of Germany (the “Seller”) to acquire all of the issued and outstanding equity interests in SerEnergy A/S, a Danish stock corporation and a wholly-owned subsidiary of the Seller (“SerEnergy”) and fischer eco solutions GmbH, a German limited liability company and a wholly-owned subsidiary of the Seller (“FES”) together with certain outstanding shareholder loan receivables.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">SerEnergy and FES were renamed to Advent Technologies A/S and Advent Technologies GmbH, respectively, following their acquisition by the Company on August 31, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The unaudited condensed consolidated financial statements of the Company have been prepared to reflect the consolidation of the companies listed below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" id="xdx_88E_ecustom--SubsidiariesInConsolidationTableTextBlock_pn3n3_zkWWe2UgR6Tl" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Basis of presentation (Details)"> <tr style="background-color: white"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; vertical-align: top"><span id="xdx_8B7_zH7VOU2XuMEa" style="display: none">Schedule of subsidiaries in consolidation</span></td> <td style="vertical-align: top; text-align: center"> </td> <td style="vertical-align: bottom; text-align: center"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: center"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: center"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: center"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: center"> </td></tr> <tr> <td rowspan="2" style="border-bottom: black 1pt solid; text-align: left; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Company Name</b></span></td> <td style="vertical-align: top; text-align: center"></td> <td rowspan="2" style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Country of <br/> Incorporation</b></span></td> <td> </td> <td colspan="3" style="border-bottom: black 1pt solid; vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Ownership Interest</b></span></td> <td> </td> <td colspan="3" style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Statements of Operations</b></span></td></tr> <tr> <td style="padding-bottom: 1pt; text-align: center; vertical-align: top"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Direct</b></span></td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Indirect</b></span></td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2023</b></span></td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2022</b></span></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; vertical-align: top; width: 41%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_ecustom--NameOfSubsidiary_c20230101__20230930__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesIncMember" title="Company Name">Advent Technologies, Inc.</span></span></td> <td style="vertical-align: top; width: 1%; text-align: center"> </td> <td style="vertical-align: bottom; width: 10%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_ecustom--SubsidiaryPlaceOfIncorporation_c20230101__20230930__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesIncMember" title="Country of Incorporation">USA</span></span></td> <td style="width: 2%"> </td> <td style="vertical-align: top; width: 10%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_ecustom--OwnershipPercentageInSubsdaries_iI_pid_c20230930__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesIncMember__srt--OwnershipAxis__custom--DirectOwnershipMember_zyWMgcatyY98" title="Ownership Interest">100%</span></span></td> <td style="width: 2%"> </td> <td style="vertical-align: bottom; width: 10%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_903_ecustom--OwnershipPercentageInSubsdaries_iI_pid_c20230930__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesIncMember__srt--OwnershipAxis__custom--IndirectOwnershipMember_zVlwzdTfwtXa" title="Ownership Interest"><span style="-sec-ix-hidden: xdx2ixbrl0736">-</span></span></span></td> <td style="width: 2%"> </td> <td style="vertical-align: bottom; width: 10%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_ecustom--StatementsOfOperationsDate_c20230101__20230930__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesIncMember" title="Statements of Operations date">01/01 – 9/30</span></span></td> <td style="width: 2%"> </td> <td style="vertical-align: bottom; width: 10%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_909_ecustom--StatementsOfOperationsDate_c20220101__20220930__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesIncMember" title="Statements of Operations date">01/01 – 9/30</span></span></td></tr> <tr style="background-color: white"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_900_ecustom--NameOfSubsidiary_c20230101__20230930__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesSAMember" title="Company Name">Advent Technologies S.A.</span></span></td> <td style="vertical-align: top; text-align: center"> </td> <td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_ecustom--SubsidiaryPlaceOfIncorporation_c20230101__20230930__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesSAMember" title="Country of Incorporation">Greece</span></span></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90D_ecustom--OwnershipPercentageInSubsdaries_iI_pid_c20230930__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesSAMember__srt--OwnershipAxis__custom--DirectOwnershipMember_zMdwOMp4RFXc" title="Ownership Interest"><span style="-sec-ix-hidden: xdx2ixbrl0746">-</span></span></span></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_ecustom--OwnershipPercentageInSubsdaries_iI_pid_c20230930__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesSAMember__srt--OwnershipAxis__custom--IndirectOwnershipMember_zzf14TRZYaPj" title="Ownership Interest">100%</span></span></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90D_ecustom--StatementsOfOperationsDate_c20230101__20230930__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesSAMember" title="Statements of Operations date">01/01 – 9/30</span></span></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_ecustom--StatementsOfOperationsDate_c20220101__20220930__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesSAMember" title="Statements of Operations date">01/01 – 9/30</span></span></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_904_ecustom--NameOfSubsidiary_c20230101__20230930__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesLLCMember" title="Company Name">Advent Technologies LLC</span></span></td> <td style="vertical-align: top; text-align: center"> </td> <td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_ecustom--SubsidiaryPlaceOfIncorporation_c20230101__20230930__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesLLCMember" title="Country of Incorporation">USA</span></span></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90A_ecustom--OwnershipPercentageInSubsdaries_iI_pid_c20230930__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesLLCMember__srt--OwnershipAxis__custom--DirectOwnershipMember_zjpa7Tik4mdk" title="Ownership Interest"><span style="-sec-ix-hidden: xdx2ixbrl0758">-</span></span></span></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_903_ecustom--OwnershipPercentageInSubsdaries_iI_pid_c20230930__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesLLCMember__srt--OwnershipAxis__custom--IndirectOwnershipMember_zqRmQXxzG5Ob" title="Ownership Interest">100%</span></span></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_ecustom--StatementsOfOperationsDate_c20230101__20230930__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesLLCMember" title="Statements of Operations date">01/01 – 9/30</span></span></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90A_ecustom--StatementsOfOperationsDate_c20220101__20220930__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesLLCMember" title="Statements of Operations date">01/01 – 9/30</span></span></td></tr> <tr style="background-color: white"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_ecustom--NameOfSubsidiary_c20230101__20230930__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesGmbHMember" title="Company Name">Advent Technologies GmbH</span></span></td> <td style="vertical-align: top; text-align: center"> </td> <td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90E_ecustom--SubsidiaryPlaceOfIncorporation_c20230101__20230930__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesGmbHMember" title="Country of Incorporation">Germany</span></span></td> <td> </td> <td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_ecustom--OwnershipPercentageInSubsdaries_iI_pid_c20230930__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesGmbHMember__srt--OwnershipAxis__custom--DirectOwnershipMember_z3ASVZMBYf9c" title="Ownership Interest">100%</span></span></td> <td> </td> <td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_ecustom--OwnershipPercentageInSubsdaries_iI_pid_c20230930__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesGmbHMember__srt--OwnershipAxis__custom--IndirectOwnershipMember_zezpaSu52COb" title="Ownership Interest"><span style="-sec-ix-hidden: xdx2ixbrl0772">-</span></span></span></td> <td> </td> <td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_ecustom--StatementsOfOperationsDate_c20230101__20230930__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesGmbHMember" title="Statements of Operations date">01/01 – 9/30</span></span></td> <td> </td> <td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_ecustom--StatementsOfOperationsDate_c20220101__20220930__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesGmbHMember" title="Statements of Operations date">01/01 – 9/30</span></span></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_900_ecustom--NameOfSubsidiary_c20230101__20230930__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesASMember" title="Company Name">Advent Technologies A/S</span></span></td> <td style="vertical-align: top; text-align: center"> </td> <td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_ecustom--SubsidiaryPlaceOfIncorporation_c20230101__20230930__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesASMember" title="Country of Incorporation">Denmark</span></span></td> <td> </td> <td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_903_ecustom--OwnershipPercentageInSubsdaries_iI_pid_c20230930__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesASMember__srt--OwnershipAxis__custom--DirectOwnershipMember_z8i8SIx9LtK2" title="Ownership Interest">100%</span></span></td> <td> </td> <td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90C_ecustom--OwnershipPercentageInSubsdaries_iI_pid_c20230930__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesASMember__srt--OwnershipAxis__custom--IndirectOwnershipMember_zevzKbV3SU49" title="Ownership Interest"><span style="-sec-ix-hidden: xdx2ixbrl0784">-</span></span></span></td> <td> </td> <td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90D_ecustom--StatementsOfOperationsDate_c20230101__20230930__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesASMember" title="Statements of Operations date">01/01 – 9/30</span></span></td> <td> </td> <td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_ecustom--StatementsOfOperationsDate_c20220101__20220930__srt--ConsolidatedEntitiesAxis__custom--AdventTechnologiesASMember" title="Statements of Operations date">01/01 – 9/30</span></span></td></tr> <tr style="background-color: white"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90E_ecustom--NameOfSubsidiary_c20230101__20230930__srt--ConsolidatedEntitiesAxis__custom--AdventGreenEnergyPhilippinesIncMember" title="Company Name">Advent Green Energy Philippines, Inc</span></span></td> <td style="vertical-align: top; text-align: center"> </td> <td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_ecustom--SubsidiaryPlaceOfIncorporation_c20230101__20230930__srt--ConsolidatedEntitiesAxis__custom--AdventGreenEnergyPhilippinesIncMember" title="Country of Incorporation">Philippines</span></span></td> <td> </td> <td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_ecustom--OwnershipPercentageInSubsdaries_iI_pid_c20230930__srt--ConsolidatedEntitiesAxis__custom--AdventGreenEnergyPhilippinesIncMember__srt--OwnershipAxis__custom--DirectOwnershipMember_zZitNJztYmQe" title="Ownership Interest"><span style="-sec-ix-hidden: xdx2ixbrl0794">-</span></span></span></td> <td> </td> <td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_ecustom--OwnershipPercentageInSubsdaries_iI_pid_c20230930__srt--ConsolidatedEntitiesAxis__custom--AdventGreenEnergyPhilippinesIncMember__srt--OwnershipAxis__custom--IndirectOwnershipMember_zLqKEBiMvpH1" title="Ownership Interest">100%</span></span></td> <td> </td> <td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_ecustom--StatementsOfOperationsDate_c20230101__20230930__srt--ConsolidatedEntitiesAxis__custom--AdventGreenEnergyPhilippinesIncMember" title="Statements of Operations date">01/01 – 9/30</span></span></td> <td> </td> <td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_ecustom--StatementsOfOperationsDate_c20220101__20220930__srt--ConsolidatedEntitiesAxis__custom--AdventGreenEnergyPhilippinesIncMember" title="Statements of Operations date">01/01 – 9/30</span></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> </p> <p style="margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Unaudited Condensed Consolidated Financial Statements</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) and pursuant to the regulations of the U.S. Securities and Exchange Commission (“SEC”). The unaudited financial information reflects, in the opinion of management, all adjustments, consisting of normal recurring adjustments, considered necessary for a fair statement of the Company’s financial position, results of operations and cash flows for the periods indicated. The results reported for the interim period presented are not necessarily indicative of results that may be expected for the full year. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s audited consolidated financial statements as of and for the year ended December 31, 2022, included in the Annual Report on Form 10-K filed with the SEC on March 31, 2023. We reclassified certain prior year amounts in our consolidated financial statements to conform to the current year presentation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. Intercompany accounts and transactions have been eliminated.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Share and per share amounts are presented on a post-conversion basis for all periods presented, unless otherwise specified.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Going Concern</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying unaudited condensed consolidated financial statements have been prepared assuming the Company will continue as a going concern. The going concern basis of presentation assumes that the Company will continue in operation one year from the date these unaudited condensed consolidated financial statements are issued and will be able to realize its assets and discharge its liabilities and commitments in the normal course of business. As such, the accompanying unaudited condensed consolidated financial statements do not include any adjustments relating to the recoverability and classification of assets and their carrying amounts, or the amount and classification of liabilities that may result should the Company be unable to continue as a going concern.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (Subtopic 205-40), the Company has evaluated whether there are conditions and events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern for one year from the date that the unaudited condensed consolidated financial statements are issued. The Company’s ability to meet its liquidity needs will largely depend on its ability to generate cash in the future. During the nine months ended September 30, 2023, the Company used $26.3 <span id="xdx_909_eus-gaap--NetCashProvidedByUsedInOperatingActivities_iN_pn3n3_di_c20230101__20230930_zO4mp3ueFpZe" style="display: none" title="Cash used in operating activities">26,338</span> million of cash in operating activities, and the Company’s ability to generate cash in the future is subject to general economic, financial, competitive, legislative, regulatory, and other factors that are beyond the Company’s control. The transition to profitability is dependent upon the successful development, approval, and commercialization of its products and the achievement of a revenue level adequate to support its cost structure. Based on the Company’s current operating plan, the Company believes that its cash and cash equivalents as of September 30, 2023 of $<span id="xdx_90E_eus-gaap--CashEquivalentsAtCarryingValue_iI_pn3n3_dm_c20230930_z7oo9kztiqv2" title="Cash">3.7</span> million will not be sufficient to fund operations and capital expenditures for the twelve months following the filing of this Quarterly Report on Form 10-Q, and the Company will need to obtain additional funding. In July 2022, the Company received official ratification from the European Commission of the European Union for one of the Important Projects of Common European Interest (“IPCEI”), Green HiPo. This project provides for the availability of funding up to €782.1 million over the next six years. As of the issuance date of the unaudited condensed consolidated financial statements, the Company has not received an agreement which provides the terms of the funding. In addition, on April 10, 2023, the Company entered into a purchase agreement (the “Purchase Agreement”) with Lincoln Park Capital Fund, LLC (“Lincoln Park”), which provides that the Company has the right, but not the obligation, to sell to Lincoln Park up to $50 million worth of shares of the Company’s Common Stock, from time to time over the 36-month term of the Purchase Agreement. Concurrently with entering into the Purchase Agreement, the Company also entered into a registration rights agreement with Lincoln Park, pursuant to which the Company agreed to register the resale of the shares of the Company’s Common Stock that have been and may be issued to Lincoln Park under the Purchase Agreement pursuant to a registration statement (the “Registration Statement”). The Registration Statement was filed on April 21, 2023 and declared effective on May 2, 2023. Per the terms of the Purchase Agreement, the Company will be unable to sell shares of the Company’s Common Stock to Lincoln Park if the sale price falls below $0.50 per share. On June 2, 2023, the Company entered into an At The Market Offering Agreement (the “ATM Agreement”) with H.C. Wainwright &amp; Co., LLC, as sales agent (the “Agent”), for an at-the-market equity program under which it may sell up to $50 million of shares of the Company’s Common Stock from time to time through the Agent. <span style="background-color: white">The Company has no obligation to sell, and the Agent is not obligated to buy or sell, any of the Shares under the ATM Agreement and may at any time suspend offers under the ATM Agreement or terminate the ATM Agreement. The ATM Offering will terminate upon the earlier of (i) the issuance and sale of all shares of our Common Stock subject to the ATM Agreement, or (ii) the termination of the ATM Agreement as permitted therein.</span> There is no assurance that the Company will have full access to either facility over the next twelve months. If the Company is unable to obtain sufficient funding, it could be required to delay its development efforts, limit activities and reduce research and development costs, which could adversely affect its business prospects. Because of the uncertainty in securing additional funding and the insufficient amount of cash and cash equivalents as of the financial statement filing date, management has concluded that substantial doubt exists with respect to the Company’s ability to continue as a going concern for one year from the date the unaudited condensed consolidated financial statements are issued.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-26338000 usd
CY2023Q3 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
3700000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_847_eus-gaap--UseOfEstimates_zpPAcjpFhdZk" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_862_znZXqo0xjzWc">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. On an on-going basis, management evaluates the estimates and judgments, including those related to the selection of useful lives for tangible assets, expected future cash flows from long-lived assets to support impairment tests, the carrying value of goodwill, provisions necessary for accounts receivables and inventory write downs, provisions for legal disputes, and contingencies. Management bases its estimates and judgments on historical experience and on various other factors that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates under different assumptions and/or conditions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q3 us-gaap Cash
Cash
2800000 usd
CY2022Q4 us-gaap Cash
Cash
800000 usd
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3661000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
32869000 usd
CY2023Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
2018000 usd
CY2023Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
750000 usd
CY2022Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
750000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6429000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
33619000 usd
adn Period Of Warranty On Fuel Cells
PeriodOfWarrantyOnFuelCells
P2Y
adn Percentage Of Accrue Warranty Reserve
PercentageOfAccrueWarrantyReserve
0.08 pure
adn Period Of Warranty Reserve Expected To Be Incurred
PeriodOfWarrantyReserveExpectedToBeIncurred
P12M
CY2023Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Warranty Reserves
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsWarrantyReserves
969000 usd
CY2022Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Warranty Reserves
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsWarrantyReserves
311000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Warranty Reserves
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsWarrantyReserves
1047000 usd
CY2023Q3 adn Additions
Additions
34000 usd
adn Additions
Additions
107000 usd
adn Additions
Additions
311000 usd
CY2023Q3 adn Settlements
Settlements
-62000 usd
adn Settlements
Settlements
-230000 usd
CY2023Q3 adn Foreign Exchange Fluctuations
ForeignExchangeFluctuations
-30000 usd
CY2022Q3 adn Foreign Exchange Fluctuations
ForeignExchangeFluctuations
-20000 usd
adn Foreign Exchange Fluctuations
ForeignExchangeFluctuations
-13000 usd
adn Foreign Exchange Fluctuations
ForeignExchangeFluctuations
-20000 usd
CY2023Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Warranty Reserves
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsWarrantyReserves
911000 usd
CY2022Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Warranty Reserves
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsWarrantyReserves
291000 usd
CY2023Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Warranty Reserves
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsWarrantyReserves
911000 usd
CY2022Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Warranty Reserves
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsWarrantyReserves
291000 usd
CY2023Q1 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
6041
CY2023Q1 us-gaap Payments For Rent
PaymentsForRent
600000 usd
CY2023Q3 us-gaap Interest And Other Income
InterestAndOtherIncome
6000 usd
us-gaap Interest And Other Income
InterestAndOtherIncome
19000 usd
CY2022Q3 us-gaap Interest And Other Income
InterestAndOtherIncome
0 usd
us-gaap Interest And Other Income
InterestAndOtherIncome
0 usd
us-gaap Derivatives Methods Of Accounting Nonhedging Derivatives
DerivativesMethodsOfAccountingNonhedgingDerivatives
<p id="xdx_846_eus-gaap--DerivativesMethodsOfAccountingNonhedgingDerivatives_zKu05t7BFcE6" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86D_zKByZOizklHj">Warrant Liability</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As a result of the Business Combination, the Company assumed a warrant liability (the “Warrant Liability”) related to previously issued <span id="xdx_900_ecustom--ClassOfWarrantOrRightIssued_pid_c20230101__20230930__us-gaap--FairValueByLiabilityClassAxis__us-gaap--DerivativeFinancialInstrumentsLiabilitiesMember_zLLr9ve3jmcf" title="Warrants issued (in shares)">3,940,278</span> warrants, each exercisable to purchase one share of common stock at an exercise price of $<span id="xdx_90A_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20230930__us-gaap--FairValueByLiabilityClassAxis__us-gaap--DerivativeFinancialInstrumentsLiabilitiesMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zsmYmUzkS0I2" title="Exercise price (in dollars per share)">11.50</span> per share, originally sold to AMCI Sponsor LLC (the “Sponsor”) in a private placement consummated in connection with AMCI’s initial public offering (the “Private Placement Warrants”) and the <span id="xdx_90C_ecustom--ClassOfWarrantOrRightIssued_pid_c20230101__20230930__us-gaap--ClassOfWarrantOrRightAxis__custom--WorkingCapitalWarrantsMember_zO4HvfYvYBl9" title="Warrants issued (in shares)">400,000</span> warrants, each exercisable to purchase one share of Common Stock at an exercise price of $<span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20230930__us-gaap--ClassOfWarrantOrRightAxis__custom--WorkingCapitalWarrantsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zstVSQlTUn5l" title="Exercise price (in dollars per share)">11.50</span> per share, converted from the Sponsor’s non-interest bearing loan to the Company of $<span id="xdx_908_ecustom--NonInterestBearingLoan_pn3n3_dm_c20230101__20230930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember_zcire2jlOSZi" title="Non-interest bearing loan">0.4</span> million in connection with the closing of the Business Combination (the “Working Capital Warrants”) (Note 14). The Private Placement Warrants and the Working Capital Warrants have substantially the same terms as the <span id="xdx_90A_ecustom--ClassOfWarrantOrRightIssued_c20230101__20230930__us-gaap--ClassOfWarrantOrRightAxis__custom--PrivatePlacementWarrantMember_pdd" title="Warrants issued (in shares)">24,399,418</span> warrants, each exercisable to purchase one share of Common Stock at an exercise price of $<span id="xdx_901_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20230930__us-gaap--ClassOfWarrantOrRightAxis__custom--PrivatePlacementWarrantMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zIdpQ2djg2hi" title="Exercise price (in dollars per share)">11.50</span> per share, issued by AMCI in its initial public offering (the “Public Warrants”). As of September 30, 2023, the Company had an aggregate of <span id="xdx_90E_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20230930__us-gaap--ClassOfWarrantOrRightAxis__custom--PrivatePlacementWarrantMember_zqixGEErxPY5" title="Warrants outstanding">1,970,139</span> Private Placement Warrants and Working Capital Warrants outstanding.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following tables summarize the fair value of the Company’s assets and liabilities measured at fair value on a recurring basis as of September 30, 2023 and December 31, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" id="xdx_899_eus-gaap--FairValueLiabilitiesMeasuredOnRecurringBasisTextBlock_pn3n3_zTPmktczyCqc" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of Significant Accounting Policies (Details 2)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left"> <span id="xdx_8BC_zy3G95QrBq29" style="display: none">Liabilities measured at fair value on recurring basis</span></td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center">As of<br/> September 30,<br/> 2023</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">(Unaudited)</td> <td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: left">(Amounts in thousands)</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Unobservable Inputs<br/> (Level 3)</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">Assets</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 76%; text-align: left; padding-bottom: 1pt">Available for sale financial asset</td> <td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td> <td id="xdx_98C_eus-gaap--AssetsFairValueDisclosure_c20230930__us-gaap--FairValueByLiabilityClassAxis__us-gaap--DerivativeFinancialInstrumentsAssetsMember__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_pn3n3" style="border-bottom: Black 1pt solid; width: 9%; text-align: right" title="Assets">316</td> <td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td> <td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td> <td id="xdx_985_eus-gaap--AssetsFairValueDisclosure_c20230930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByLiabilityClassAxis__us-gaap--DerivativeFinancialInstrumentsAssetsMember__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_pn3n3" style="border-bottom: Black 1pt solid; width: 9%; text-align: right" title="Assets">316</td> <td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 2.5pt"> </td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td> <td id="xdx_983_eus-gaap--AssetsFairValueDisclosure_c20230930__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_pn3n3" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Assets">316</td> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td> <td id="xdx_98F_eus-gaap--AssetsFairValueDisclosure_c20230930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_pn3n3" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Assets">316</td> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">Liabilities</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">Warrant liability</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td> <td id="xdx_982_eus-gaap--LiabilitiesFairValueDisclosure_c20230930__us-gaap--FairValueByLiabilityClassAxis__us-gaap--DerivativeFinancialInstrumentsLiabilitiesMember__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Liabilities">99</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td> <td id="xdx_987_eus-gaap--LiabilitiesFairValueDisclosure_c20230930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByLiabilityClassAxis__us-gaap--DerivativeFinancialInstrumentsLiabilitiesMember__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Liabilities">99</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 2.5pt"> </td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td> <td id="xdx_988_eus-gaap--LiabilitiesFairValueDisclosure_c20230930__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_pn3n3" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Liabilities">99</td> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td> <td id="xdx_985_eus-gaap--LiabilitiesFairValueDisclosure_c20230930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_pn3n3" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Liabilities">99</td> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of<br/> December 31,<br/> 2022</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: left">(Amounts in thousands)</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Unobservable Inputs<br/> (Level 3)</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">Assets</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 76%; text-align: left; padding-bottom: 1pt">Available for sale financial asset</td> <td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td> <td id="xdx_982_eus-gaap--AssetsFairValueDisclosure_c20221231__us-gaap--FairValueByLiabilityClassAxis__us-gaap--DerivativeFinancialInstrumentsAssetsMember__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_pn3n3" style="border-bottom: Black 1pt solid; width: 9%; text-align: right" title="Assets">320</td> <td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td> <td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td> <td id="xdx_98E_eus-gaap--AssetsFairValueDisclosure_c20221231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByLiabilityClassAxis__us-gaap--DerivativeFinancialInstrumentsAssetsMember__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_pn3n3" style="border-bottom: Black 1pt solid; width: 9%; text-align: right" title="Assets">320</td> <td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 2.5pt"> </td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td> <td id="xdx_985_eus-gaap--AssetsFairValueDisclosure_c20221231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_pn3n3" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Assets">320</td> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td> <td id="xdx_985_eus-gaap--AssetsFairValueDisclosure_c20221231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_pn3n3" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Assets">320</td> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">Liabilities</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">Warrant liability</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td> <td id="xdx_98C_eus-gaap--LiabilitiesFairValueDisclosure_c20221231__us-gaap--FairValueByLiabilityClassAxis__us-gaap--DerivativeFinancialInstrumentsLiabilitiesMember__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Liabilities">998</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td> <td id="xdx_98E_eus-gaap--LiabilitiesFairValueDisclosure_c20221231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByLiabilityClassAxis__us-gaap--DerivativeFinancialInstrumentsLiabilitiesMember__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Liabilities">998</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 2.5pt"> </td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td> <td id="xdx_98C_eus-gaap--LiabilitiesFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zCzhvSa5gW47" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Liabilities">998</td> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td> <td id="xdx_98C_eus-gaap--LiabilitiesFairValueDisclosure_c20221231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_pn3n3" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Liabilities">998</td> <td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8AB_zypCepp7rf07" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The carrying amounts of the Company’s remaining financial instruments reflected on the consolidated balance sheets and which consist of cash and cash equivalents, accounts receivables, net, other current assets, trade and other payables, and other current liabilities, approximate their respective fair values due to their short-term nature.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Changes in the fair value of Level 3 assets and liabilities for the three and nine months ended September 30, 2023 and 2022 were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" id="xdx_89F_eus-gaap--FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_pn3n3_zLCwM0axE3K3" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of Significant Accounting Policies (Details 3)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span id="xdx_8B8_zQo08xNloW47" style="display: none">Change in fair value of warrant liability</span></td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td colspan="16" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Available for Sale Financial Asset</td> <td style="padding-bottom: 1pt; font-weight: bold; text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the<br/> Three Months Ended September 30,<br/> 2023</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the<br/> Three Months Ended September 30,<br/> 2022</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the<br/> Nine Months Ended September 30,<br/> 2023</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the<br/> Nine Months Ended September 30,<br/> 2022</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: left">(Amounts in thousands)</td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(Unaudited)</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(Unaudited)</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(Unaudited)</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(Unaudited)</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 52%; font-weight: bold; text-align: left">Estimated fair value (beginning of period)</td> <td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td> <td id="xdx_982_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_iS_pn3n3_c20230701__20230930_zEiwsbFRV8S9" style="width: 9%; font-weight: bold; text-align: right" title="Estimated fair value at beginning balance">326</td> <td style="width: 1%; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td> <td id="xdx_986_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_iS_pn3n3_c20220701__20220930_zUcXAaW0zq8g" style="width: 9%; font-weight: bold; text-align: right" title="Estimated fair value at beginning balance">311</td> <td style="width: 1%; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td> <td id="xdx_989_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_iS_pn3n3_c20230101__20230930_zCzL3L9bJwb2" style="width: 9%; font-weight: bold; text-align: right" title="Estimated fair value at beginning balance">320</td> <td style="width: 1%; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td> <td id="xdx_984_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_iS_pn3n3_c20220101__20220930_zGcT7aKV53Gl" style="width: 9%; font-weight: bold; text-align: right" title="Estimated fair value at beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl0980">-</span></td> <td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Estimated fair value of available for sale financial asset acquired</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98F_ecustom--EstimatedFairValueOfAvailableForSaleFinancialAssetAcquired_c20230701__20230930_pn3n3" style="text-align: right" title="Estimated fair value of available for sale financial asset acquired"><span style="-sec-ix-hidden: xdx2ixbrl0982">-</span></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98D_ecustom--EstimatedFairValueOfAvailableForSaleFinancialAssetAcquired_c20220701__20220930_pn3n3" style="text-align: right" title="Estimated fair value of available for sale financial asset acquired"><span style="-sec-ix-hidden: xdx2ixbrl0984">-</span></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_986_ecustom--EstimatedFairValueOfAvailableForSaleFinancialAssetAcquired_c20230101__20230930_pn3n3" style="text-align: right" title="Estimated fair value of available for sale financial asset acquired"><span style="-sec-ix-hidden: xdx2ixbrl0986">-</span></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_980_ecustom--EstimatedFairValueOfAvailableForSaleFinancialAssetAcquired_c20220101__20220930_pn3n3" style="text-align: right" title="Estimated fair value of available for sale financial asset acquired">311</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Foreign exchange fluctuations</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98E_ecustom--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetForeignExchangeFluctuations_c20230701__20230930_pn3n3" style="text-align: right" title="Foreign exchange fluctuations">(10</td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98C_ecustom--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetForeignExchangeFluctuations_c20220701__20220930_pn3n3" style="text-align: right" title="Foreign exchange fluctuations">(20</td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_988_ecustom--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetForeignExchangeFluctuations_c20230101__20230930_pn3n3" style="text-align: right" title="Foreign exchange fluctuations">(4</td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_986_ecustom--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetForeignExchangeFluctuations_c20220101__20220930_pn3n3" style="text-align: right" title="Foreign exchange fluctuations">(20</td> <td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">Change in estimated fair value</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_982_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1_c20230701__20230930_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Change in estimated fair value"><span style="-sec-ix-hidden: xdx2ixbrl0998">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_980_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1_c20220701__20220930_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Change in estimated fair value"><span style="-sec-ix-hidden: xdx2ixbrl1000">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98C_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1_c20230101__20230930_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Change in estimated fair value"><span style="-sec-ix-hidden: xdx2ixbrl1002">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98A_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1_c20220101__20220930_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Change in estimated fair value"><span style="-sec-ix-hidden: xdx2ixbrl1004">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">Estimated fair value (end of period)</td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td> <td id="xdx_989_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_iE_pn3n3_c20230701__20230930_zk9cJrSDWuKc" style="font-weight: bold; text-align: right" title="Estimated fair value at ending balance">316</td> <td style="font-weight: bold; text-align: left"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td> <td id="xdx_98C_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_iE_pn3n3_c20220701__20220930_z5YDXV8zJYF7" style="font-weight: bold; text-align: right" title="Estimated fair value at ending balance">291</td> <td style="font-weight: bold; text-align: left"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td> <td id="xdx_98B_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_iE_pn3n3_c20230701__20230930_zbzqOWE5wL1b" style="font-weight: bold; text-align: right" title="Estimated fair value at ending balance">316</td> <td style="font-weight: bold; text-align: left"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td> <td id="xdx_987_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_iE_pn3n3_c20220101__20220930_z5GMs8mmLDs9" style="font-weight: bold; text-align: right" title="Estimated fair value at ending balance">291</td> <td style="font-weight: bold; text-align: left"> </td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td colspan="16" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Warrant Liability</td> <td style="padding-bottom: 1pt; font-weight: bold; text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the<br/> Three Months Ended September 30,<br/> 2023</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the<br/> Three Months Ended September 30,<br/> 2022</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For the<br/> Nine Months Ended September 30,<br/> 2023</b></span></p></td> <td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For the<br/> Nine Months Ended September 30,<br/> 2022</b></span></p></td> <td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: left">(Amounts in thousands)</td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(Unaudited)</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(Unaudited)</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>(Unaudited)</b></td> <td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><b>(Unaudited)</b></td> <td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 52%; font-weight: bold; text-align: left">Estimated fair value (beginning of period)</td> <td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td> <td id="xdx_98B_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_pn3n3_c20230701__20230930_zdPdqKmYyxti" style="width: 9%; font-weight: bold; text-align: right" title="Estimated fair value at beginning balance">177</td> <td style="width: 1%; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td> <td id="xdx_984_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_pn3n3_c20220701__20220930_zEte0nqpn88a" style="width: 9%; font-weight: bold; text-align: right" title="Estimated fair value at beginning balance">2,214</td> <td style="width: 1%; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td> <td id="xdx_982_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_pn3n3_c20230101__20230930_zfW0arT5wR13" style="width: 9%; font-weight: bold; text-align: right" title="Estimated fair value at beginning balance">998</td> <td style="width: 1%; font-weight: bold; text-align: left"> </td> <td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td> <td id="xdx_98C_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_pn3n3_c20220101__20220930_zvqgEPrZ4mu6" style="width: 9%; font-weight: bold; text-align: right" title="Estimated fair value at beginning balance">10,373</td> <td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Change in estimated fair value</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98D_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings_c20230701__20230930_pn3n3" style="text-align: right" title="Change in estimated fair value">135</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98B_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings_c20220701__20220930_pn3n3" style="text-align: right" title="Change in estimated fair value">911</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_987_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings_c20230101__20230930_pn3n3" style="text-align: right" title="Change in estimated fair value">(355</td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_985_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings_c20220101__20220930_pn3n3" style="text-align: right" title="Change in estimated fair value">(7,248</td> <td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">Reclassification of private placement warrants</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_983_ecustom--ReclassificationOfPrivatePlacementWarrants_c20230701__20230930_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Reclassification of private placement warrants">(213</td> <td style="padding-bottom: 1pt; text-align: left">)</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_985_ecustom--ReclassificationOfPrivatePlacementWarrants_c20220701__20220930_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Reclassification of private placement warrants"><span style="-sec-ix-hidden: xdx2ixbrl1032">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_989_ecustom--ReclassificationOfPrivatePlacementWarrants_c20230101__20230930_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Reclassification of private placement warrants">(545</td> <td style="padding-bottom: 1pt; text-align: left">)</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_98B_ecustom--ReclassificationOfPrivatePlacementWarrants_c20220101__20220930_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Reclassification of private placement warrants"><span style="-sec-ix-hidden: xdx2ixbrl1036">-</span></td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">Estimated fair value (end of period)</td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td> <td id="xdx_983_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_pn3n3_c20230701__20230930_zLZH3x3iCZ89" style="font-weight: bold; text-align: right" title="Estimated fair value at ending balance">99</td> <td style="font-weight: bold; text-align: left"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td> <td id="xdx_98E_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_pn3n3_c20220701__20220930_zFQ9N4CAeha" style="font-weight: bold; text-align: right" title="Estimated fair value at ending balance">3,125</td> <td style="font-weight: bold; text-align: left"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td> <td id="xdx_983_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_pn3n3_c20230101__20230930_zZhLvC8ttAy9" style="font-weight: bold; text-align: right" title="Estimated fair value at ending balance">99</td> <td style="font-weight: bold; text-align: left"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td> <td id="xdx_987_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_pn3n3_c20220101__20220930_zBJV3hhpw5W5" style="font-weight: bold; text-align: right" title="Estimated fair value at ending balance">3,125</td> <td style="font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8AB_z3zb8ahEhXQ4" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Warrant Liability is remeasured to its fair value at each reporting period and upon settlement. The change in fair value is recognized in “Fair value change of warrant liability” on the consolidated statements of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The estimated fair value of the Private Placement Warrants and the Working Capital Warrants (each as defined below) is determined using Level 3 inputs by using the Black-Scholes model. The application of the Black-Scholes model requires the use of a number of inputs and significant assumptions including volatility. Significant judgment is required in determining the expected volatility of our common stock. Due to the limited history of trading of our Common Stock, we determined expected volatility based on a peer group of publicly traded companies.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following tables provide quantitative information regarding Level 3 fair value measurement inputs as of their measurement date of September 30, 2023:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" id="xdx_89F_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_pn3n3_zHYdeMdgz36k" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of Significant Accounting Policies (Details 4)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"><span id="xdx_8BF_zcJxHaBA3jnl" style="display: none">Fair value measurements input</span></td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td colspan="4" style="border-bottom: Black 1pt solid; padding-left: 0.125in; font-weight: bold; text-align: center">Available for Sale Financial Asset</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 88%; text-align: left">Interest Rate</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 9%; text-align: right"><span id="xdx_902_ecustom--FairValueOfAssetInterestRate_iI_pid_dp_c20230930__us-gaap--FairValueByLiabilityClassAxis__us-gaap--DerivativeFinancialInstrumentsAssetsMember__us-gaap--MeasurementInputTypeAxis__custom--MeasurementInputInterestRateMember_zjHZxHHXNC4h" title="Interest Rate">8.00</span></td> <td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Discount Rate</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardDiscountFromMarketPriceOfferingDate_pid_dp_c20230101__20230930__us-gaap--FairValueByLiabilityClassAxis__us-gaap--DerivativeFinancialInstrumentsAssetsMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountRateMember_zBnTSXCSq4ga" title="Discount Rate">8.00</span></td> <td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Remaining term (in years)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_90F_ecustom--FinancialAssetRemainingTermInYears_dtY_c20230101__20230930__us-gaap--FairValueByLiabilityClassAxis__us-gaap--DerivativeFinancialInstrumentsAssetsMember_zYRfXpFFi5m2" title="Remaining term (in years)">1.65</span></td> <td style="text-align: left"> </td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td colspan="4" style="border-bottom: Black 1pt solid; padding-left: 0.125in; font-weight: bold; text-align: center">Warrant Liability</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 88%; text-align: left">Stock price</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td> <td id="xdx_981_eus-gaap--SharePrice_iI_pid_c20230930__us-gaap--FairValueByLiabilityClassAxis__us-gaap--DerivativeFinancialInstrumentsLiabilitiesMember_z2a2NNoHMlOf" style="width: 9%; text-align: right" title="Stock price">0.39</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Exercise price (strike price)</td> <td> </td> <td style="text-align: left">$</td> <td id="xdx_982_eus-gaap--OptionIndexedToIssuersEquityStrikePrice1_pid_c20230101__20230930__us-gaap--FairValueByLiabilityClassAxis__us-gaap--DerivativeFinancialInstrumentsLiabilitiesMember_zMLVmEVukOLf" style="text-align: right" title="Exercise price (strike price)">11.50</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Risk-free interest rate</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_c20230101__20230930__us-gaap--FairValueByLiabilityClassAxis__us-gaap--DerivativeFinancialInstrumentsLiabilitiesMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zIBAeU3vcdB3" title="Risk-free interest rate">4.83</span></td> <td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Volatility</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_c20230101__20230930__us-gaap--FairValueByLiabilityClassAxis__us-gaap--DerivativeFinancialInstrumentsLiabilitiesMember_zdHb5ynS32mh" title="Volatility">128.2</span></td> <td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Remaining term (in years)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><span id="xdx_90E_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20230930__us-gaap--FairValueByLiabilityClassAxis__us-gaap--DerivativeFinancialInstrumentsLiabilitiesMember_zoLIL5rWw07j" title="Remaining term (in years)">2.34</span></td> <td style="text-align: left"> </td></tr> </table> <p id="xdx_8A4_zWhNlguG1PL" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company performs routine procedures such as comparing prices obtained from independent source to ensure that appropriate fair values are recorded.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
326000 usd
CY2022Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
311000 usd
CY2022Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
320000 usd
adn Estimated Fair Value Of Available For Sale Financial Asset Acquired
EstimatedFairValueOfAvailableForSaleFinancialAssetAcquired
311000 usd
CY2023Q3 adn Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Foreign Exchange Fluctuations
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetForeignExchangeFluctuations
-10000 usd
CY2022Q3 adn Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Foreign Exchange Fluctuations
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetForeignExchangeFluctuations
-20000 usd
adn Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Foreign Exchange Fluctuations
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetForeignExchangeFluctuations
-4000 usd
adn Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Foreign Exchange Fluctuations
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetForeignExchangeFluctuations
-20000 usd
CY2023Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
316000 usd
CY2022Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
291000 usd
CY2023Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
316000 usd
CY2022Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
291000 usd
CY2023Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
177000 usd
CY2022Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
2214000 usd
CY2022Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
998000 usd
CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
10373000 usd
CY2023Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
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FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
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FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
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FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
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FiniteLivedIntangibleAssetsNet
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AccruedLiabilitiesAndOtherLiabilities
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ProductWarrantyAccrualClassifiedCurrent
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PropertyPlantAndEquipmentGross
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AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
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AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
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LessCumulativeImpairment
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PropertyPlantAndEquipmentNet
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us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
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us-gaap Property Plant And Equipment Additions
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CY2023Q3 us-gaap Depreciation
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CY2022Q3 us-gaap Depreciation
Depreciation
300000 usd
us-gaap Depreciation
Depreciation
2100000 usd
us-gaap Depreciation
Depreciation
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PropertyPlantAndEquipmentDisposals
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ProductWarrantyAccrualClassifiedCurrent
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OtherCurrentLiabilitiesOvertimeProvision
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CY2023Q3 us-gaap Other Liabilities Current
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AccruedConstructionFeesCurrent
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AccruedProfessionalFeesCurrent
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AccruedProfessionalFeesCurrent
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142000 usd
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CY2023Q3 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
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ProductWarrantyAccrualNoncurrent
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CY2023Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
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CY2022Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
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NumberOfSharesAuthorized
501000000 shares
CY2023Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
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CommonStockParOrStatedValuePerShare
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CY2022Q4 us-gaap Preferred Stock Shares Authorized
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PreferredStockParOrStatedValuePerShare
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CY2023Q3 us-gaap Common Stock Shares Issued
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CY2022Q4 us-gaap Common Stock Shares Issued
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2023Q3 us-gaap Contract With Customer Asset Gross Current
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100000 usd
CY2022Q4 us-gaap Contract With Customer Asset Gross Current
ContractWithCustomerAssetGrossCurrent
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CY2023Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
700000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
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us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
100000 usd
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-0.22
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2023Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
80000 usd
us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
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UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
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us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
1700000 usd
us-gaap Number Of Operating Segments
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CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1264000 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2399000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3353000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5880000 usd
CY2023Q3 us-gaap Guarantee Obligations Current Carrying Value
GuaranteeObligationsCurrentCarryingValue
0 usd
CY2022Q4 us-gaap Guarantee Obligations Current Carrying Value
GuaranteeObligationsCurrentCarryingValue
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CY2022Q4 adn Contractual Obligation Minimum Quantity
ContractualObligationMinimumQuantity
21000 sqm
CY2023Q3 adn Contractual Obligation Minimum Quantity Pieces
ContractualObligationMinimumQuantityPieces
3236 electrodes
CY2022Q3 adn Contractual Obligation Minimum Quantity Pieces
ContractualObligationMinimumQuantityPieces
318400
CY2022Q4 adn Contractual Obligation Quantity Pieces Remainder Of Fiscal Year
ContractualObligationQuantityPiecesRemainderOfFiscalYear
15600000
CY2022Q4 adn Contractual Obligation Quantity Remainder Of Fiscal Year
ContractualObligationQuantityRemainderOfFiscalYear
1653000 sqm
CY2022Q4 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
676000 usd
CY2022Q4 adn Contractual Obligation Quantity Pieces Year One
ContractualObligationQuantityPiecesYearOne
9600000
CY2022Q4 adn Contractual Obligation Quantity Year One
ContractualObligationQuantityYearOne
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CY2022Q4 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
1699000 usd
CY2022Q4 adn Contractual Obligation Quantity Year Two
ContractualObligationQuantityYearTwo
8000000 sqm
CY2022Q4 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
2112000 usd
CY2022Q4 adn Contractual Obligation Quantity Pieces
ContractualObligationQuantityPieces
25200000
CY2022Q4 adn Contractual Obligation Quantity
ContractualObligationQuantity
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CY2022Q4 us-gaap Contractual Obligation
ContractualObligation
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CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
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CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
55294610 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
51660133 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.20
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.22
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.83
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.52

Files In Submission

Name View Source Status
FilingSummary.xml Edgar Link unprocessable
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0001829126-23-007376-index.html Edgar Link pending
0001829126-23-007376.txt Edgar Link pending
0001829126-23-007376-xbrl.zip Edgar Link pending
adn-20230930.xsd Edgar Link pending
adventtech_10q.htm Edgar Link pending
adventtech_ex31-1.htm Edgar Link pending
adventtech_ex31-2.htm Edgar Link pending
adn-20230930_cal.xml Edgar Link unprocessable
adn-20230930_def.xml Edgar Link unprocessable
adn-20230930_lab.xml Edgar Link unprocessable
adn-20230930_pre.xml Edgar Link unprocessable
adventtech_10q_htm.xml Edgar Link completed
adventtech_ex32-1.htm Edgar Link pending
adventtech_ex32-2.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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R10.htm Edgar Link pending
R11.htm Edgar Link pending
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R13.htm Edgar Link pending
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R20.htm Edgar Link pending
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