2022 Q4 Form 10-Q Financial Statement
#000149315222032289 Filed on November 14, 2022
Income Statement
Concept | 2022 Q4 | 2022 Q3 | 2021 Q3 |
---|---|---|---|
Revenue | $0.00 | $0.00 | |
YoY Change | |||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $1.452M | $5.637M | $438.7K |
YoY Change | 98.35% | 1184.81% | -56.99% |
% of Gross Profit | |||
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $177.9K | $140.3K | $189.5K |
YoY Change | -6.1% | -25.97% | -9.77% |
% of Gross Profit | |||
Operating Expenses | $1.629M | $5.777M | $628.2K |
YoY Change | 76.87% | 819.6% | -48.93% |
Operating Profit | -$5.777M | -$628.2K | |
YoY Change | 819.6% | ||
Interest Expense | -$213.0K | ||
YoY Change | |||
% of Operating Profit | |||
Other Income/Expense, Net | |||
YoY Change | |||
Pretax Income | -$1.842M | -$5.777M | -$628.2K |
YoY Change | 99.99% | 819.6% | -48.93% |
Income Tax | $0.00 | $0.00 | |
% Of Pretax Income | |||
Net Earnings | -$1.978M | -$5.777M | -$628.2K |
YoY Change | 114.66% | 819.6% | -48.93% |
Net Earnings / Revenue | |||
Basic Earnings Per Share | -$0.04 | $0.00 | |
Diluted Earnings Per Share | -$0.01 | -$35.73K | -$3.967K |
COMMON SHARES | |||
Basic Shares Outstanding | 169.3M shares | 159.8M shares | 157.0M shares |
Diluted Shares Outstanding | 161.7M shares |
Balance Sheet
Concept | 2022 Q4 | 2022 Q3 | 2021 Q3 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $414.6K | $4.062M | $1.365M |
YoY Change | -67.68% | 197.54% | |
Cash & Equivalents | $414.6K | $4.062M | $1.365M |
Short-Term Investments | |||
Other Short-Term Assets | $77.85K | $90.59K | $83.03K |
YoY Change | -53.72% | 9.11% | |
Inventory | |||
Prepaid Expenses | |||
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $492.4K | $4.153M | $1.468M |
YoY Change | -66.06% | 182.83% | |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $17.15M | $12.42M | $7.216M |
YoY Change | 133.96% | 72.09% | |
Goodwill | |||
YoY Change | |||
Intangibles | $1.000K | $1.000K | |
YoY Change | 0.0% | ||
Long-Term Investments | $135.2K | ||
YoY Change | |||
Other Assets | $1.158M | $1.428M | |
YoY Change | |||
Total Long-Term Assets | $22.30M | $13.85M | $7.217M |
YoY Change | 204.18% | 91.87% | |
TOTAL ASSETS | |||
Total Short-Term Assets | $492.4K | $4.153M | $1.468M |
Total Long-Term Assets | $22.30M | $13.85M | $7.217M |
Total Assets | $22.79M | $18.00M | $8.685M |
YoY Change | 159.53% | 107.25% | |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $5.034M | $2.048M | $181.9K |
YoY Change | 3257.34% | 1026.08% | |
Accrued Expenses | $447.3K | $379.1K | |
YoY Change | 2381.42% | ||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $7.523M | $2.819M | $181.9K |
YoY Change | 4379.2% | 1450.17% | |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $3.686M | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $0.00 | $2.035M | $327.4K |
YoY Change | -100.0% | 521.47% | |
Total Long-Term Liabilities | $3.686M | $2.034M | $327.4K |
YoY Change | 839.87% | 521.47% | |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $7.523M | $2.819M | $181.9K |
Total Long-Term Liabilities | $3.686M | $2.034M | $327.4K |
Total Liabilities | $11.21M | $4.854M | $509.2K |
YoY Change | 1901.13% | 853.14% | |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$34.08M | -$32.10M | |
YoY Change | 431.29% | ||
Common Stock | $45.65M | $41.40M | |
YoY Change | 211.97% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $11.58M | $13.15M | $8.176M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $22.79M | $18.00M | $8.685M |
YoY Change | 159.53% | 107.25% |
Cashflow Statement
Concept | 2022 Q4 | 2022 Q3 | 2021 Q3 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$1.978M | -$5.777M | -$628.2K |
YoY Change | 114.66% | 819.6% | -48.93% |
Depreciation, Depletion And Amortization | $177.9K | $140.3K | $189.5K |
YoY Change | -6.1% | -25.97% | -9.77% |
Cash From Operating Activities | $2.078M | -$804.2K | -$522.1K |
YoY Change | -429.31% | 54.03% | 174.8% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $4.907M | -$3.001M | |
YoY Change | -1720.92% | ||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$2.419M | -$1.428M | |
YoY Change | |||
Cash From Investing Activities | -$7.326M | -$4.429M | |
YoY Change | 2319.92% | ||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $564.0K | ||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 1.600M | 9.117M | 497.5K |
YoY Change | 88.05% | 1732.62% | 161.83% |
NET CHANGE | |||
Cash From Operating Activities | 2.078M | -804.2K | -522.1K |
Cash From Investing Activities | -7.326M | -4.429M | |
Cash From Financing Activities | 1.600M | 9.117M | 497.5K |
Net Change In Cash | -3.648M | 3.883M | -24.65K |
YoY Change | 4304.58% | -15854.44% | |
FREE CASH FLOW | |||
Cash From Operating Activities | $2.078M | -$804.2K | -$522.1K |
Capital Expenditures | $4.907M | -$3.001M | |
Free Cash Flow | -$2.829M | $2.197M | |
YoY Change | 762.02% |
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|
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CY2021Q3 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
462000 | usd |
CY2021Q3 | us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
30000 | usd |
CY2021Q3 | BGXX |
Issuance Of Common Stock To Be Issued
IssuanceOfCommonStockToBeIssued
|
102000 | usd |
CY2021Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-628213 | usd |
CY2021Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
8175694 | usd |
CY2020Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
7220898 | usd |
CY2020Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
7220898 | usd |
BGXX |
Stock Issued During Period Value New Issues Received One
StockIssuedDuringPeriodValueNewIssuesReceivedOne
|
2242000 | usd | |
us-gaap |
Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
|
3491057 | usd | |
us-gaap |
Repayments Of Other Debt
RepaymentsOfOtherDebt
|
1511067 | usd | |
BGXX |
Stock Issued During Period Value New Issues Received
StockIssuedDuringPeriodValueNewIssuesReceived
|
20000 | usd | |
us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
160000 | usd | |
BGXX |
Issuance Of Common Stock To Be Issued
IssuanceOfCommonStockToBeIssued
|
102000 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-1569204 | usd | |
CY2021Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
8175694 | usd |
CY2021Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
8175694 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-25684456 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-1569204 | usd | |
us-gaap |
Depreciation
Depreciation
|
526749 | usd | |
us-gaap |
Depreciation
Depreciation
|
562293 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
18422968 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
160000 | usd | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-77632 | usd | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
63952 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
1898070 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-114800 | usd | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
361065 | usd | |
us-gaap |
Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
|
-54507 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-4343465 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-1025663 | usd | |
BGXX |
Payments For Acquire Property Deposits
PaymentsForAcquirePropertyDeposits
|
1427973 | usd | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
5615393 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-7043366 | usd | |
us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
15017 | usd | |
us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
70250 | usd | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
3050000 | usd | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
2344000 | usd | |
us-gaap |
Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
|
9136733 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
14166723 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
2288767 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
2779892 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
1263104 | usd | |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
1282565 | usd |
CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
102263 | usd |
CY2022Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
4062457 | usd |
CY2021Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
1365367 | usd |
dei |
Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
|
2019-04-16 | ||
CY2022Q3 | us-gaap |
Cash
Cash
|
4062457 | usd |
CY2021Q4 | us-gaap |
Cash
Cash
|
1282565 | usd |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
2779892 | usd | |
us-gaap |
Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
|
12186733 | usd | |
us-gaap |
Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
|
3491057 | usd | |
CY2022Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
13145644 | usd |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
8220399 | usd |
CY2022Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-32098200 | usd |
CY2021Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-6413744 | usd |
CY2022Q3 | BGXX |
Working Capital Deficit
WorkingCapitalDeficit
|
1333760 | usd |
CY2021Q4 | BGXX |
Working Capital Deficit
WorkingCapitalDeficit
|
1282829 | usd |
us-gaap |
Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
|
12186733 | usd | |
us-gaap |
Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
|
3491057 | usd | |
us-gaap |
Repayments Of Other Debt
RepaymentsOfOtherDebt
|
1511067 | usd | |
CY2022Q3 | us-gaap |
Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
|
3020000.00 | usd |
CY2022Q3 | us-gaap |
Line Of Credit
LineOfCredit
|
10000000.0 | usd |
us-gaap |
Advertising Expense
AdvertisingExpense
|
67405 | usd | |
us-gaap |
Advertising Expense
AdvertisingExpense
|
16191 | usd | |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_849_eus-gaap--UseOfEstimates_zt4q5hwmy523" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">J.</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_862_zQ3UpiGWK632">Use of Estimates</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; 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: 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of the condensed 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 at the date of the condensed financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. This applies in particular to valuation allowance for deferred tax assets, valuation of warrants and stock-based compensation and assignment of the useful lives of property and equipment. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | ||
CY2022Q3 | us-gaap |
Cash Fdic Insured Amount
CashFDICInsuredAmount
|
250000 | usd |
CY2021Q4 | us-gaap |
Time Deposit Liability Above Us Insurance Limit
TimeDepositLiabilityAboveUsInsuranceLimit
|
1032565 | usd |
CY2022Q3 | us-gaap |
Furniture And Fixtures Gross
FurnitureAndFixturesGross
|
88690 | usd |
CY2022Q3 | us-gaap |
Land
Land
|
260000 | usd |
CY2021Q4 | us-gaap |
Land
Land
|
260000 | usd |
CY2022Q3 | us-gaap |
Construction In Progress Gross
ConstructionInProgressGross
|
5829420 | usd |
CY2021Q4 | us-gaap |
Construction In Progress Gross
ConstructionInProgressGross
|
302717 | usd |
CY2022Q3 | us-gaap |
Buildings And Improvements Gross
BuildingsAndImprovementsGross
|
8883851 | usd |
CY2021Q4 | us-gaap |
Buildings And Improvements Gross
BuildingsAndImprovementsGross
|
8883851 | usd |
CY2022Q3 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
15061961 | usd |
CY2021Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
9446568 | usd |
CY2022Q3 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
2644553 | usd |
CY2021Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
2117804 | usd |
CY2022Q3 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
12417408 | usd |
CY2021Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
7328764 | usd |
us-gaap |
Interest Costs Capitalized
InterestCostsCapitalized
|
54507 | usd | |
CY2022Q3 | us-gaap |
Finite Lived License Agreements Gross
FiniteLivedLicenseAgreementsGross
|
1000 | usd |
CY2021Q4 | us-gaap |
Finite Lived License Agreements Gross
FiniteLivedLicenseAgreementsGross
|
1000 | usd |
CY2022Q3 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
1000 | usd |
CY2021Q4 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
1000 | usd |
us-gaap |
Payments For Purchase Of Other Assets1
PaymentsForPurchaseOfOtherAssets1
|
2855945 | usd | |
BGXX |
Payments For Acquire Property Deposits
PaymentsForAcquirePropertyDeposits
|
1427973 | usd | |
us-gaap |
Payments For Deposits
PaymentsForDeposits
|
1427972 | usd | |
us-gaap |
Repayments Of Other Debt
RepaymentsOfOtherDebt
|
1511067 | usd | |
CY2022Q3 | us-gaap |
Interest Payable Current
InterestPayableCurrent
|
54507 | usd |
us-gaap |
Interest Costs Capitalized
InterestCostsCapitalized
|
54507 | usd | |
CY2022Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
CY2022Q3 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | shares |
CY2022Q3 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2022Q3 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
169342300 | shares |
CY2021Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
157544500 | shares |
us-gaap |
Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
|
800000 | usd | |
us-gaap |
Legal Fees
LegalFees
|
55617 | usd | |
CY2022Q3 | us-gaap |
Escrow Deposit
EscrowDeposit
|
7650 | usd |
CY2022Q3 | us-gaap |
Share Price
SharePrice
|
1.65 | |
CY2022Q3 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
1.05 | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
|
1.743 | pure | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0341 | pure | |
BGXX |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dilutive Issuance Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDilutiveIssuanceRate
|
0.15 | pure | |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P5Y | ||
us-gaap |
Stock And Warrants Issued During Period Value Preferred Stock And Warrants
StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants
|
4489662 | usd | |
CY2021Q3 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
102000 | usd |
CY2021Q3 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
34000 | shares |
CY2022Q3 | us-gaap |
Due To Officers Or Stockholders Current
DueToOfficersOrStockholdersCurrent
|
392194 | usd |
CY2021Q4 | us-gaap |
Due To Officers Or Stockholders Current
DueToOfficersOrStockholdersCurrent
|
392194 | usd |
CY2022Q3 | us-gaap |
Long Term Line Of Credit
LongTermLineOfCredit
|
2034497 | usd |
us-gaap |
Loss Contingency Disclosures
LossContingencyDisclosures
|
<p id="xdx_801_eus-gaap--LossContingencyDisclosures_z0kHzDfX1Nlk" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">13.</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_822_zUGhuDlffOH6">Contingencies</span></span></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: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the ordinary course of business, the Company may routinely be a defendant in, or party to a number of pending and threatened legal actions including actions brought on behalf of various classes of claimants. In view of the inherent difficulty of predicting the outcome of such matters, the Company cannot state what the eventual outcome of such matters will be. Legal provisions are established when it becomes probable that the Company will incur an expense related to a legal action and the amount can be reliably estimated. Such provisions are recorded at the best estimate of the amount required to settle any obligation related to these legal actions as at the condensed balance sheet date, taking into account the risks and uncertainties surrounding the obligation. Management and internal and external experts are involved in estimating any amounts that may be required. The actual costs of resolving these claims may vary significantly from the amount of the legal provisions. The Company’s estimate involves significant judgement, given the varying stages of the proceedings, the fact that the Company’s liability, if any, has yet to be determined and the fact that the underlying matters will change from time to time. Other than as set forth below, the Company is not presently a party to any litigation. The Company is not able to make a reliable assessment of the potential losses as these matters are at an early stage, accordingly, no amounts have been accrued in the condensed financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; 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: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Bright Green Corporation v. John Fikany, State of New Mexico, County of Cibola, Thirteenth Judicial District</i>. In this matter, the Company filed a complaint for declaratory judgment against the former acting Chief Executive Officer of the<span id="xdx_90F_eus-gaap--OtherCommitmentsDescription_c20220101__20220930_zdNlOVqlNnl3" title="Other commitments description"> Bright Green Group of Companies, an entity unrelated to the Company, to determine if defendant is entitled to 5,000,000 shares of the Company’s common stock, based on a failure to fulfill agreed upon conditions precedent to earning such shares from the Company</span>. Defendant counterclaimed and filed a third-party claim against a director of the Company, and her spouse, for claims including wrongful termination and breach of contract. The Company denies defendants allegations and have set forth arguments refuting defendant’s counterclaims and third-party claims. The case is in the discovery phase. The Company is exploring potential dispositive motions against the counter and third-party claims.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; 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: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Bright Green Corporation v. Jerry Capussi, State of New Mexico, County of Cibola, Thirteenth Judicial District</i>. In this matter, the Company and defendant, a former consultant of BGGI, a predecessor to the Company, have each filed claims for declaratory judgment seeking to determine by court order whether defendant is entitled to (i) shares of common stock in the Company (amounting to no more than 108,000 shares) or (ii) fair market value of defendant’s equity ownership of BGGI. The lawsuit is in early discovery stages, and the Company is preparing arguments for a summary judgment motion. There are no claims for specific monetary liability against either party.</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> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"/><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>BRIGHT GREEN CORPORATION</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"/></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">Notes to the Condensed Financial Statements (Unaudited)</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">For the Three Months and Nine Months Ended September 30, 2022 and 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">(Expressed in United States Dollars)</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"/></p> <div style="margin-left: auto; margin-right: auto; width: 100%"><div style="border-top: Black 1.5pt solid; font-size: 1pt"> </div></div> <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"/></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> | ||
us-gaap |
Other Commitments Description
OtherCommitmentsDescription
|
Bright Green Group of Companies, an entity unrelated to the Company, to determine if defendant is entitled to 5,000,000 shares of the Company’s common stock, based on a failure to fulfill agreed upon conditions precedent to earning such shares from the Company |