2022 Q4 Form 10-Q Financial Statement

#000155485522000729 Filed on December 23, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q4
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $8.964M $6.845M $1.328M
YoY Change 575.25% 279.07%
% of Gross Profit
Research & Development $18.03M $14.30M $13.28M
YoY Change 35.75% 409.59%
% of Gross Profit
Depreciation & Amortization $24.88K $0.00 $107.9K
YoY Change -76.95%
% of Gross Profit
Operating Expenses $26.99M $21.14M $1.328M
YoY Change 1933.19% 1070.92%
Operating Profit -$38.57M
YoY Change 929.84%
Interest Expense $7.249M $2.314M -$2.073M
YoY Change -449.78% -76.44%
% of Operating Profit
Other Income/Expense, Net $536.6K
YoY Change
Pretax Income -$19.74M -$36.25M -$3.400M
YoY Change 480.61% -552.2%
Income Tax $312.9K $490.4K $0.00
% Of Pretax Income
Net Earnings -$20.05M -$36.74M -$3.400M
YoY Change 489.81% -558.32%
Net Earnings / Revenue
Basic Earnings Per Share -$0.14
Diluted Earnings Per Share -$0.07 -$0.14 -$118.3K
COMMON SHARES
Basic Shares Outstanding 266.4M shares 264.3M shares
Diluted Shares Outstanding 272.0M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $227.9M $248.3M $475.3K
YoY Change 47850.44% 23009.93%
Cash & Equivalents $49.15M $77.94M $14.38M
Short-Term Investments $178.8M $170.4M
Other Short-Term Assets $1.426M $2.974M $21.14K
YoY Change 6643.17% 1874.95%
Inventory
Prepaid Expenses
Receivables
Other Receivables $220.0K
Total Short-Term Assets $312.2M $333.1M $14.62M
YoY Change 2035.82% 27092.49% 541.01%
LONG-TERM ASSETS
Property, Plant & Equipment $451.6K $418.7K $0.00
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $236.9M
YoY Change
Other Assets $0.00
YoY Change
Total Long-Term Assets $668.2K $418.7K $699.8K
YoY Change -4.51% -99.82% -99.7%
TOTAL ASSETS
Total Short-Term Assets $312.2M $333.1M $14.62M
Total Long-Term Assets $668.2K $418.7K $699.8K
Total Assets $312.9M $333.5M $15.32M
YoY Change 1942.61% 41.42% -93.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.097M $2.963M $877.6K
YoY Change 138.95% -27.2%
Accrued Expenses $2.492M $0.00
YoY Change
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 $24.93M $28.02M $1.526M
YoY Change 1533.86% 588.35% 333.47%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.020M $838.8K $702.9K
YoY Change 45.12% -96.95%
Total Long-Term Liabilities $1.020M $838.8K $702.9K
YoY Change 45.12% -96.95%
TOTAL LIABILITIES
Total Short-Term Liabilities $24.93M $28.02M $1.526M
Total Long-Term Liabilities $1.020M $838.8K $702.9K
Total Liabilities $25.95M $28.86M $2.229M
YoY Change 1064.37% -8.66% -95.4%
SHAREHOLDERS EQUITY
Retained Earnings -$217.0M -$197.0M $0.00
YoY Change -100.0%
Common Stock $503.9M $501.6M $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $286.9M $304.7M $13.09M
YoY Change
Total Liabilities & Shareholders Equity $312.9M $333.5M $15.32M
YoY Change 1942.61% 41.42% -93.47%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q4
OPERATING ACTIVITIES
Net Income -$20.05M -$36.74M -$3.400M
YoY Change 489.81% -558.32%
Depreciation, Depletion And Amortization $24.88K $0.00 $107.9K
YoY Change -76.95%
Cash From Operating Activities -$20.74M -$16.96M -$599.1K
YoY Change 3361.63% 6421.97%
INVESTING ACTIVITIES
Capital Expenditures $57.75K -$418.7K
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$8.000M -$96.00M -$2.300M
YoY Change 247.83%
Cash From Investing Activities -$8.058M -$96.42M -$2.300M
YoY Change 250.34%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 15.00M 2.300M
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -20.74M -16.96M -599.1K
Cash From Investing Activities -8.058M -96.42M -2.300M
Cash From Financing Activities 0.000 15.00M 2.300M
Net Change In Cash -28.80M -98.38M -599.1K
YoY Change 4706.67% 37738.06%
FREE CASH FLOW
Cash From Operating Activities -$20.74M -$16.96M -$599.1K
Capital Expenditures $57.75K -$418.7K
Free Cash Flow -$20.80M -$16.54M
YoY Change

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WeightedAverageNumberOfDilutedSharesOutstanding
220000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
220000000 shares
us-gaap Net Income Loss
NetIncomeLoss
-9959944 usd
us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
65835 usd
evex Long Term Incentive Plan Expense Income
LongTermIncentivePlanExpenseIncome
111731 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
2983021 usd
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-586231 usd
us-gaap Increase Decrease In Due To Related Parties Current
IncreaseDecreaseInDueToRelatedPartiesCurrent
4971910 usd
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
921084 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-7458636 usd
us-gaap Proceeds From Contributions From Parent
ProceedsFromContributionsFromParent
7104583 usd
us-gaap Proceeds From Contributions From Affiliates
ProceedsFromContributionsFromAffiliates
15000000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
22104583 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
14645947 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
0 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
14645947 usd
us-gaap Contribution Of Property
ContributionOfProperty
2790336 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
14376523 usd
CY2021Q4 us-gaap Due From Related Parties Current
DueFromRelatedPartiesCurrent
220000 usd
CY2021Q4 us-gaap Other Assets Current
OtherAssetsCurrent
6274397 usd
CY2021Q4 us-gaap Assets Current
AssetsCurrent
20870920 usd
CY2021Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
699753 usd
CY2021Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
877641 usd
CY2021Q4 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
8642340 usd
CY2021Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
32226 usd
CY2021Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
616156 usd
CY2021Q4 us-gaap Liabilities Current
LiabilitiesCurrent
10168363 usd
CY2021Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
702921 usd
CY2021Q4 us-gaap Liabilities
Liabilities
10871284 usd
CY2021Q4 evex Net Parent Investment
NetParentInvestment
10731615 usd
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-32226 usd
CY2021Q4 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
8642340 usd
CY2021Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
32226 usd
CY2021Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
616156 usd
CY2021Q4 us-gaap Liabilities Current
LiabilitiesCurrent
10168363 usd
CY2021Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
702921 usd
CY2021Q4 us-gaap Liabilities
Liabilities
10871284 usd
CY2021Q4 evex Net Parent Investment
NetParentInvestment
10731615 usd
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-32226 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
10699389 usd
evex Allocated Corporate Costs Income Net From Transactions With Related Party
AllocatedCorporateCostsIncomeNetFromTransactionsWithRelatedParty
-7909182 usd
evex Transaction Cost Incurred
TransactionCostIncurred
24300000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">Use of Estimates </span></p> <p style="margin: 8pt 0pt 0pt; text-indent: 22.5pt; line-height: 1.2; font-size: 10pt; font-family: 'Times New Roman'; text-align: justify;"><span style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">The preparation of condensed consolidated financial statements in accordance with U.S. GAAP requires the Company’s management to make estimates and judgments that affected the reported amounts of assets and liabilities and allocations of expenses. These judgments were based on the historical experience, management’s evaluation of trends in the industry and other factors that were deemed relevant at that time. The estimates and assumptions were reviewed on a regular basis and the changes to accounting estimates were recognized in the period in which the estimates were revised. The Company’s management recognize that the actual results could be materially different from the estimates. Until December 31, 2021, under the management approach, the s</span><span style="font-size: 10pt; line-height: inherit; font-family: 'Times New Roman', serif; margin: 8pt 0pt; text-align: justify; text-indent: 20pt;"><span style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">ignificant estimates inherent in the preparation of the unaudited condensed consolidated financial statements include, but are not limited to, useful lives of capitalized software, net, accrued liabilities, income taxes including deferred tax assets and liabilities. Under the legal entity approach, the significant estimates include, </span></span><span style="font-size: 10.0pt; mso-ansi-language: EN-US;">but are not limited to the New Warrants measurement, the allocation of expenses paid ERJ and EAH, fair value measurement and income taxes. </span></p>
us-gaap Derivatives Methods Of Accounting Hedge Documentation
DerivativesMethodsOfAccountingHedgeDocumentation
<p style="font-size: 10pt; line-height: 1.2; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">Hedge accounting</span></p> <p style="line-height: 10pt; text-align: justify; text-indent: 0px; margin: 0px;"><br/></p> <p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Until December 31, 2021, the Company accounted for certain derivative instruments under the cash flow hedge accounting methodology to hedge against the payroll cash flow volatility attributable to a risk of foreign exchange rate fluctuation associated with highly probable forecast transactions that will affect income or loss for the year. Effective January 1, 2022, no hedge transactions were observed since the derivative contracts were not transferred to Eve. </span></p> <p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">The Company recognizes all derivative instruments as either assets or liabilities in the balance sheet at their respective fair values. For derivatives designated in hedging relationships changes in the fair value are recognized in Accumulated Other Comprehensive Loss (“AOCI”), to the extent the derivative is effective at offsetting the changes in cash flows being hedged until the hedged item affects earnings. The cash flow impact of the derivative instruments is included in our combined statement of cash flows in net cash used in operating activities. </span></p> <p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">The Company only enters into derivative contracts that it intends to designate as a hedge of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability (cash flow hedge). For all hedging relationships, Eve formally documents the hedging relationship and its risk-management objective and strategy for undertaking the hedge, the hedging instrument, the hedged transaction, the nature of the risk being hedged, how the hedging instrument’s effectiveness in offsetting the hedged risk will be assessed prospectively and retrospectively, and a description of the method used to measure ineffectiveness. The Company also formally assesses, both at the inception of the hedging relationship and on an ongoing basis, whether the derivatives that are used in hedging relationships are highly effective in offsetting changes in cash flows of hedged transactions. For derivative instruments that are designated and qualify as part of a cash flow hedging relationship, the effective portion of the gain or loss on the derivative is reported as a component of other comprehensive loss and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Gains and losses on the derivative representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in current earnings. </span></p> <div> <div id="t_ft_46FRHKFJY800000000000000000000b"> </div> </div> <p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Eve discontinues hedge accounting prospectively when it determines that the derivative is no longer effective in offsetting cash flows attributable to the hedged risk, the derivative expires or is sold, terminated, or exercised, the cash flow hedge is designated because a forecasted transaction is not probable of occurring, or management determines to remove the designation of the cash flow hedge. Additionally, when it is probable that a forecasted transaction will not occur, Eve recognizes immediately in earnings gains and losses that were accumulated in other comprehensive loss related to the hedging relationship.</span></p> <p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">In all situations in which hedge accounting is discontinued and the derivative remains outstanding, Eve</span><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> continues to carry the derivative at its fair value on the balance sheet and recognizes any subsequent changes in its fair value in earnings.</span></p>
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
418721 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
10699389 usd
CY2021Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
21570673 usd
evex Transaction Cost Incurred Which Related To Merger Activity
TransactionCostIncurredWhichRelatedToMergerActivity
21400000 usd
evex Transaction Cost Capitalized
TransactionCostCapitalized
15700000 usd
evex Transaction Cost Recognized As Expense Related To Merger Activity
TransactionCostRecognizedAsExpenseRelatedToMergerActivity
5700000 usd
CY2021Q3 evex Transaction Cost Incurred Which Related To Merger Activity
TransactionCostIncurredWhichRelatedToMergerActivity
70000.00 usd
evex Transaction Cost Incurred Which Related To Merger Activity
TransactionCostIncurredWhichRelatedToMergerActivity
500000 usd
evex Transaction Cost Incurred Which Related To Carve Out Preparation
TransactionCostIncurredWhichRelatedToCarveOutPreparation
2400000 usd
evex Transaction Cost Incurred Which Related To Carve Out Preparation Prior Fiscal Period
TransactionCostIncurredWhichRelatedToCarveOutPreparationPriorFiscalPeriod
1900000 usd
evex Transaction Cost Incurred Which Related To Carve Out Preparation Current Fiscal Period
TransactionCostIncurredWhichRelatedToCarveOutPreparationCurrentFiscalPeriod
500000 usd
evex Transaction Cost Incurred Which Related To Impact To Statement Of Operations
TransactionCostIncurredWhichRelatedToImpactToStatementOfOperations
8600000 usd
evex Transaction Cost Incurred
TransactionCostIncurred
2000000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">Use of Estimates </span></p> <p style="margin: 8pt 0pt 0pt; text-indent: 22.5pt; line-height: 1.2; font-size: 10pt; font-family: 'Times New Roman'; text-align: justify;"><span style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">The preparation of condensed consolidated financial statements in accordance with U.S. GAAP requires the Company’s management to make estimates and judgments that affected the reported amounts of assets and liabilities and allocations of expenses. These judgments were based on the historical experience, management’s evaluation of trends in the industry and other factors that were deemed relevant at that time. The estimates and assumptions were reviewed on a regular basis and the changes to accounting estimates were recognized in the period in which the estimates were revised. The Company’s management recognize that the actual results could be materially different from the estimates. Until December 31, 2021, under the management approach, the s</span><span style="font-size: 10pt; line-height: inherit; font-family: 'Times New Roman', serif; margin: 8pt 0pt; text-align: justify; text-indent: 20pt;"><span style="font-size: 10pt; font-family: 'times new roman', times; line-height: inherit;">ignificant estimates inherent in the preparation of the unaudited condensed consolidated financial statements include, but are not limited to, useful lives of capitalized software, net, accrued liabilities, income taxes including deferred tax assets and liabilities. Under the legal entity approach, the significant estimates include, </span></span><span style="font-size: 10.0pt; mso-ansi-language: EN-US;">but are not limited to the New Warrants measurement, the allocation of expenses paid ERJ and EAH, fair value measurement and income taxes. </span></p>
us-gaap Derivatives Methods Of Accounting Hedge Documentation
DerivativesMethodsOfAccountingHedgeDocumentation
<p style="font-size: 10pt; line-height: 1.2; margin: 0px; text-align: justify; text-indent: 0px;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold; line-height: inherit;">Hedge accounting</span></p> <p style="line-height: 10pt; text-align: justify; text-indent: 0px; margin: 0px;"><br/></p> <p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Until December 31, 2021, the Company accounted for certain derivative instruments under the cash flow hedge accounting methodology to hedge against the payroll cash flow volatility attributable to a risk of foreign exchange rate fluctuation associated with highly probable forecast transactions that will affect income or loss for the year. Effective January 1, 2022, no hedge transactions were observed since the derivative contracts were not transferred to Eve. </span></p> <p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">The Company recognizes all derivative instruments as either assets or liabilities in the balance sheet at their respective fair values. For derivatives designated in hedging relationships changes in the fair value are recognized in Accumulated Other Comprehensive Loss (“AOCI”), to the extent the derivative is effective at offsetting the changes in cash flows being hedged until the hedged item affects earnings. The cash flow impact of the derivative instruments is included in our combined statement of cash flows in net cash used in operating activities. </span></p> <p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">The Company only enters into derivative contracts that it intends to designate as a hedge of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability (cash flow hedge). For all hedging relationships, Eve formally documents the hedging relationship and its risk-management objective and strategy for undertaking the hedge, the hedging instrument, the hedged transaction, the nature of the risk being hedged, how the hedging instrument’s effectiveness in offsetting the hedged risk will be assessed prospectively and retrospectively, and a description of the method used to measure ineffectiveness. The Company also formally assesses, both at the inception of the hedging relationship and on an ongoing basis, whether the derivatives that are used in hedging relationships are highly effective in offsetting changes in cash flows of hedged transactions. For derivative instruments that are designated and qualify as part of a cash flow hedging relationship, the effective portion of the gain or loss on the derivative is reported as a component of other comprehensive loss and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Gains and losses on the derivative representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in current earnings. </span></p> <div> <div id="t_ft_46FRHKFJY800000000000000000000b"> </div> </div> <p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">Eve discontinues hedge accounting prospectively when it determines that the derivative is no longer effective in offsetting cash flows attributable to the hedged risk, the derivative expires or is sold, terminated, or exercised, the cash flow hedge is designated because a forecasted transaction is not probable of occurring, or management determines to remove the designation of the cash flow hedge. Additionally, when it is probable that a forecasted transaction will not occur, Eve recognizes immediately in earnings gains and losses that were accumulated in other comprehensive loss related to the hedging relationship.</span></p> <p style="font-size: 10pt; line-height: 1.2; margin: 0pt 0pt 8pt; text-align: justify; text-indent: 18pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;">In all situations in which hedge accounting is discontinued and the derivative remains outstanding, Eve</span><span style="font-family: 'Times New Roman'; font-size: 10pt; line-height: inherit;"> continues to carry the derivative at its fair value on the balance sheet and recognizes any subsequent changes in its fair value in earnings.</span></p>
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
0 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
0 usd
CY2022Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
0 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
0 usd
CY2021Q4 evex Transaction Cost Incurred
TransactionCostIncurred
400000 usd
CY2021Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
0 usd
CY2022Q3 us-gaap Prepaid Insurance
PrepaidInsurance
2261554 usd
CY2021Q4 us-gaap Prepaid Insurance
PrepaidInsurance
0 usd
CY2022Q3 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
583500 usd
us-gaap Income Tax Examination Likelihood Of Unfavorable Settlement
IncomeTaxExaminationLikelihoodOfUnfavorableSettlement
greater than 50%
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 pure
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3 pure
CY2022Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
14298925 usd
CY2021Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2805955 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6636418 usd
CY2022Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-38568200 usd
CY2021Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-3745061 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-9902030 usd
us-gaap Derivatives Methods Of Accounting Hedging Derivatives
DerivativesMethodsOfAccountingHedgingDerivatives
<p style="margin: 0px; text-align: justify; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1; text-indent: 0px;"><span style="font-family: 'times new roman', times; line-height: inherit;"><b style="mso-bidi-font-weight: normal;"><span style="font-size: 10pt; color: black; line-height: inherit;">Derivative Financial Instruments</span></b></span></p> <p style="margin: 0pt; text-align: justify; font-size: 7pt;"><span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></p> <p style="margin: 0cm 0cm 0.0001pt; text-align: justify; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><span style="font-size: 10pt; line-height: inherit; margin: 8pt 0cm; text-align: justify; text-indent: 20pt;"><span style="font-size: 10pt; color: #000000; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; font-family: 'times new roman', times; line-height: inherit;">       The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives in accordance with ASC Topic 815, “<i>Derivatives and Hedging</i>”. The Company’s derivative instruments are recorded at fair value and re-valued at each reporting date, with changes in the fair value reported in the Statement of Operations. Derivative assets and liabilities are classified on the balance sheet as current or non-current based on whether or not net-cash settlement or conversion of the instrument could be required within 12 months of the balance sheet date.  </span></span></p>
CY2021Q4 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
4077 usd
CY2022Q3 evex Advances To Employees
AdvancesToEmployees
129424 usd
CY2021Q4 evex Advances To Employees
AdvancesToEmployees
17063 usd
CY2022Q3 evex Deferred Transaction Costs Net Current
DeferredTransactionCostsNetCurrent
0 usd
CY2021Q4 us-gaap Other Assets Current
OtherAssetsCurrent
6274397 usd
us-gaap Income Tax Examination Likelihood Of Unfavorable Settlement
IncomeTaxExaminationLikelihoodOfUnfavorableSettlement
greater than 50%
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 pure
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3 pure
CY2022Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
14298925 usd
CY2021Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2805955 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
33830890 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6636418 usd
CY2022Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-38568200 usd
CY2021Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-3745061 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-162499131 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-9902030 usd
us-gaap Derivatives Methods Of Accounting Hedging Derivatives
DerivativesMethodsOfAccountingHedgingDerivatives
<p style="margin: 0px; text-align: justify; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1; text-indent: 0px;"><span style="font-family: 'times new roman', times; line-height: inherit;"><b style="mso-bidi-font-weight: normal;"><span style="font-size: 10pt; color: black; line-height: inherit;">Derivative Financial Instruments</span></b></span></p> <p style="margin: 0pt; text-align: justify; font-size: 7pt;"><span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></p> <p style="margin: 0cm 0cm 0.0001pt; text-align: justify; font-size: 10pt; font-family: 'Times New Roman', serif; line-height: 1.2;"><span style="font-size: 10pt; line-height: inherit; margin: 8pt 0cm; text-align: justify; text-indent: 20pt;"><span style="font-size: 10pt; color: #000000; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; font-family: 'times new roman', times; line-height: inherit;">       The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives in accordance with ASC Topic 815, “<i>Derivatives and Hedging</i>”. The Company’s derivative instruments are recorded at fair value and re-valued at each reporting date, with changes in the fair value reported in the Statement of Operations. Derivative assets and liabilities are classified on the balance sheet as current or non-current based on whether or not net-cash settlement or conversion of the instrument could be required within 12 months of the balance sheet date.  </span></span></p>
CY2020Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
23443 usd
CY2021Q1 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
83164 usd
CY2021Q1 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
106607 usd
CY2021Q2 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
95269 usd
CY2022Q3 us-gaap Cash
Cash
76317314 usd
CY2021Q4 us-gaap Cash
Cash
14131396 usd
CY2022Q3 evex Private Securities At Carrying Value
PrivateSecuritiesAtCarryingValue
1624057 usd
CY2021Q4 evex Private Securities At Carrying Value
PrivateSecuritiesAtCarryingValue
245127 usd
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
77941371 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
14376523 usd
evex Allocated Corporate Costs Income Net From Transactions With Related Party
AllocatedCorporateCostsIncomeNetFromTransactionsWithRelatedParty
-1624245 usd
evex Allocated Corporate Costs Income Net From Transactions With Related Party
AllocatedCorporateCostsIncomeNetFromTransactionsWithRelatedParty
-7909182 usd
CY2022Q3 evex Allocated Corporate Costs Income Net From Transactions With Related Party
AllocatedCorporateCostsIncomeNetFromTransactionsWithRelatedParty
-338523 usd
CY2021Q3 evex Allocated Corporate Costs Income Net From Transactions With Related Party
AllocatedCorporateCostsIncomeNetFromTransactionsWithRelatedParty
-3321308 usd
CY2021Q2 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
201876 usd
CY2021Q3 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
2546068 usd
CY2021Q3 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
2747944 usd
CY2021Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
699753 usd
us-gaap Capitalized Computer Software Period Increase Decrease
CapitalizedComputerSoftwarePeriodIncreaseDecrease
-699753 usd
CY2022Q3 us-gaap Cash
Cash
76317314 usd
CY2021Q4 us-gaap Cash
Cash
14131396 usd
CY2022Q3 evex Private Securities At Carrying Value
PrivateSecuritiesAtCarryingValue
1624057 usd
CY2021Q4 evex Private Securities At Carrying Value
PrivateSecuritiesAtCarryingValue
245127 usd
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
77941371 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
14376523 usd
evex Allocated Corporate Costs Income Net From Transactions With Related Party
AllocatedCorporateCostsIncomeNetFromTransactionsWithRelatedParty
-1624245 usd
evex Allocated Corporate Costs Income Net From Transactions With Related Party
AllocatedCorporateCostsIncomeNetFromTransactionsWithRelatedParty
-7909182 usd
CY2022Q3 evex Allocated Corporate Costs Income Net From Transactions With Related Party
AllocatedCorporateCostsIncomeNetFromTransactionsWithRelatedParty
-338523 usd
CY2021Q3 evex Allocated Corporate Costs Income Net From Transactions With Related Party
AllocatedCorporateCostsIncomeNetFromTransactionsWithRelatedParty
-3321308 usd
CY2022Q3 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
0 usd
CY2022Q3 evex Provision For Profit Sharing Program
ProvisionForProfitSharingProgram
1107702 usd
CY2022Q3 evex Allocated Corporate Costs Income Net From Transactions With Related Party
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