2021 Q4 Form 10-K Financial Statement
#000156459022011221 Filed on March 21, 2022
Income Statement
| Concept | 2021 Q4 | 2021 | 2020 Q4 |
|---|---|---|---|
| Revenue | $0.00 | $0.00 | |
| YoY Change | |||
| Cost Of Revenue | $5.054M | ||
| YoY Change | |||
| Gross Profit | $25.77M | ||
| YoY Change | |||
| Gross Profit Margin | |||
| Selling, General & Admin | $11.43M | ||
| YoY Change | |||
| % of Gross Profit | 44.34% | ||
| Research & Development | |||
| YoY Change | |||
| % of Gross Profit | |||
| Depreciation & Amortization | $3.335M | ||
| YoY Change | |||
| % of Gross Profit | 12.94% | ||
| Operating Expenses | $3.028M | $3.704M | $526.00 |
| YoY Change | 575624.33% | ||
| Operating Profit | -$3.704M | ||
| YoY Change | |||
| Interest Expense | $31.99K | $115.4K | |
| YoY Change | |||
| % of Operating Profit | |||
| Other Income/Expense, Net | $956.0K | $1.071M | |
| YoY Change | |||
| Pretax Income | -$2.040M | -$2.633M | |
| YoY Change | |||
| Income Tax | $775.0K | ||
| % Of Pretax Income | |||
| Net Earnings | -$2.040M | -$2.633M | -$526.00 |
| YoY Change | 387787.83% | ||
| Net Earnings / Revenue | |||
| Basic Earnings Per Share | -$0.08 | ||
| Diluted Earnings Per Share | -$59.14K | -$76.31K | |
| COMMON SHARES | |||
| Basic Shares Outstanding | 6.853M | ||
| Diluted Shares Outstanding | 6.853M |
Balance Sheet
| Concept | 2021 Q4 | 2021 | 2020 Q4 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $462.3K | $462.3K | |
| YoY Change | 1055.68% | ||
| Cash & Equivalents | $462.3K | $35.61K | |
| Short-Term Investments | |||
| Other Short-Term Assets | $265.3K | $265.3K | |
| YoY Change | |||
| Inventory | |||
| Prepaid Expenses | $265.3K | ||
| Receivables | |||
| Other Receivables | |||
| Total Short-Term Assets | $727.6K | $727.6K | $504.8K |
| YoY Change | 44.13% | 1718.9% | |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $22.63M | ||
| YoY Change | |||
| Goodwill | |||
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | $10.52M | ||
| YoY Change | |||
| Other Assets | $276.1M | $276.1M | |
| YoY Change | 58651.03% | ||
| Total Long-Term Assets | $276.1M | $276.1M | $0.00 |
| YoY Change | 59928.22% | ||
| TOTAL ASSETS | |||
| Total Short-Term Assets | $727.6K | $727.6K | $504.8K |
| Total Long-Term Assets | $276.1M | $276.1M | $0.00 |
| Total Assets | $276.9M | $276.9M | $504.8K |
| YoY Change | 54747.79% | 55271.48% | |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $1.115M | ||
| YoY Change | |||
| Accrued Expenses | $3.154M | $3.154M | |
| YoY Change | 855.68% | ||
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $150.0K | $150.0K | |
| YoY Change | 0.0% | ||
| Long-Term Debt Due | $0.00 | ||
| YoY Change | |||
| Total Short-Term Liabilities | $3.323M | $3.323M | $480.3K |
| YoY Change | 591.81% | 592.24% | |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $0.00 | $0.00 | |
| YoY Change | |||
| Other Long-Term Liabilities | $14.70M | $14.70M | |
| YoY Change | |||
| Total Long-Term Liabilities | $14.70M | $14.70M | |
| YoY Change | |||
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $3.323M | $3.323M | $480.3K |
| Total Long-Term Liabilities | $14.70M | $14.70M | |
| Total Liabilities | $18.03M | $18.03M | $480.3K |
| YoY Change | 3653.32% | 3655.66% | |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$17.17M | -$526.00 | |
| YoY Change | 3264251.33% | ||
| Common Stock | $690.00 | $25.00K | |
| YoY Change | -97.24% | ||
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | -$17.17M | $258.8M | $24.47K |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $276.9M | $276.9M | $504.8K |
| YoY Change | 54747.79% | 55271.48% |
Cashflow Statement
| Concept | 2021 Q4 | 2021 | 2020 Q4 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$2.040M | -$2.633M | -$526.00 |
| YoY Change | 387787.83% | ||
| Depreciation, Depletion And Amortization | $3.335M | ||
| YoY Change | |||
| Cash From Operating Activities | -$73.55K | -$672.3K | -$26.00 |
| YoY Change | 282784.62% | ||
| INVESTING ACTIVITIES | |||
| Capital Expenditures | $24.79M | ||
| YoY Change | |||
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | $0.00 | -$276.0M | |
| YoY Change | |||
| Cash From Investing Activities | $0.00 | -$276.0M | |
| YoY Change | |||
| 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 | 277.1M | 35.64K |
| YoY Change | -100.0% | 692647.41% | |
| NET CHANGE | |||
| Cash From Operating Activities | -73.55K | -672.3K | -26.00 |
| Cash From Investing Activities | 0.000 | -276.0M | |
| Cash From Financing Activities | 0.000 | 277.1M | 35.64K |
| Net Change In Cash | -73.55K | 426.7K | 35.61K |
| YoY Change | -306.52% | 966.65% | |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$73.55K | -$672.3K | -$26.00 |
| Capital Expenditures | $24.79M | ||
| Free Cash Flow | -$25.46M | ||
| YoY Change |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2021 | adex |
Number Of Trading Days
NumberOfTradingDays
|
P20D | |
| CY2021 | adex |
Number Of Consecutive Trading Days
NumberOfConsecutiveTradingDays
|
P30D | |
| CY2021 | adex |
Warrants Redemption Covenant Threshold Trading Days
WarrantsRedemptionCovenantThresholdTradingDays
|
P20Y | |
| CY2021 | adex |
Warrants Redemption Covenant Threshold Consecutive Trading Days
WarrantsRedemptionCovenantThresholdConsecutiveTradingDays
|
P30Y | |
| CY2021 | adex |
Number Of Business Days Before Sending Notice Of Redemption Period
NumberOfBusinessDaysBeforeSendingNoticeOfRedemptionPeriod
|
P3Y | |
| CY2021 | adex |
Number Of Trading Days Prior On Consummates Business Combination
NumberOfTradingDaysPriorOnConsummatesBusinessCombination
|
P10Y | |
| CY2021Q4 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P5Y5M4D | |
| CY2021 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
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| CY2021Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
||
| CY2020Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
||
| CY2020Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
||
| CY2020Q4 | us-gaap |
Deferred Offering Costs
DeferredOfferingCosts
|
469160 | |
| CY2021Q4 | us-gaap |
Held To Maturity Securities
HeldToMaturitySecurities
|
276115444 | |
| CY2021Q4 | us-gaap |
Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
|
276119979 | |
| CY2021Q4 | us-gaap |
Prepaid Expense Noncurrent
PrepaidExpenseNoncurrent
|
14384 | |
| CY2021Q4 | us-gaap |
Assets Current
AssetsCurrent
|
727556 | |
| CY2020Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
504774 | |
| CY2021Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
276857384 | |
| CY2021Q4 | us-gaap |
Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
|
276115444 | |
| CY2021Q4 | us-gaap |
Assets
Assets
|
276857384 | |
| CY2020Q4 | us-gaap |
Assets
Assets
|
504774 | |
| CY2021Q4 | us-gaap |
Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
|
3153755 | |
| CY2020Q4 | us-gaap |
Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
|
330300 | |
| CY2021Q4 | us-gaap |
Due To Related Parties Current
DueToRelatedPartiesCurrent
|
18986 | |
| CY2020Q4 | adex |
Due To Related Parties Promissory Notes Payable Current
DueToRelatedPartiesPromissoryNotesPayableCurrent
|
150000 | |
| CY2021Q4 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
5044441 | |
| CY2021Q4 | adex |
Deferred Underwriting Discount Noncurrent
DeferredUnderwritingDiscountNoncurrent
|
9660000 | |
| CY2021Q4 | us-gaap |
Liabilities
Liabilities
|
18027182 | |
| CY2020Q4 | us-gaap |
Liabilities
Liabilities
|
480300 | |
| CY2021Q4 | us-gaap |
Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
|
27600000 | |
| CY2020Q4 | us-gaap |
Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
|
0 | |
| CY2021Q4 | us-gaap |
Temporary Equity Aggregate Amount Of Redemption Requirement
TemporaryEquityAggregateAmountOfRedemptionRequirement
|
276000000 | |
| CY2021Q4 | us-gaap |
Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
|
27600000 | |
| CY2020Q4 | us-gaap |
Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
|
0 | |
| CY2020Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
690 | |
| CY2020Q4 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
24310 | |
| CY2021Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-17170488 | |
| CY2020Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-526 | |
| CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-17169798 | |
| CY2020Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
24474 | |
| CY2021 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
115444 | |
| CY2021 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
1071479 | |
| CY2021 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2632760 | |
| CY2020Q4 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-526 | |
| CY2021 | adex |
Weighted Average Redeemable Common Basic And Diluted
WeightedAverageRedeemableCommonBasicAndDiluted
|
26492055 | |
| CY2021Q1 | us-gaap |
Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
|
6550000 | |
| CY2021Q1 | adex |
Period Of Underwriters Option To Purchase Units
PeriodOfUnderwritersOptionToPurchaseUnits
|
P45D | |
| CY2021 | us-gaap |
Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
|
-0.08 | |
| CY2021 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
6853151 | |
| CY2020Q4 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
6000000 | |
| CY2021 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.08 | |
| CY2020Q4 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
0.00 | |
| CY2020Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
24474 | |
| CY2021 | adex |
Adjustments To Additional Paid In Capital Offering Costs Allocated In Warrants
AdjustmentsToAdditionalPaidInCapitalOfferingCostsAllocatedInWarrants
|
-981103 | |
| CY2021 | adex |
Adjustments To Additional Paid In Capital Accretion Of Common Stocks To Redemption Value
AdjustmentsToAdditionalPaidInCapitalAccretionOfCommonStocksToRedemptionValue
|
-31621284 | |
| CY2021 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2632760 | |
| CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-17169798 | |
| CY2020Q4 | us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
25000 | |
| CY2020Q4 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-526 | |
| CY2021 | us-gaap |
Profit Loss
ProfitLoss
|
-2632760 | |
| CY2020Q4 | us-gaap |
Profit Loss
ProfitLoss
|
-526 | |
| CY2021 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
-956035 | |
| CY2021 | adex |
Interest Earned On Cash And Marketable Securities Held In Trust Account
InterestEarnedOnCashAndMarketableSecuritiesHeldInTrustAccount
|
115444 | |
| CY2021 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
3311387 | |
| CY2021 | us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
214 | |
| CY2021 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-672304 | |
| CY2020Q4 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-26 | |
| CY2021 | adex |
Investment Held In Trust Account
InvestmentHeldInTrustAccount
|
276000000 | |
| CY2021 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-276000000 | |
| CY2021 | adex |
Proceeds From Initial Public Offering Net Of Underwriters Fees
ProceedsFromInitialPublicOfferingNetOfUnderwritersFees
|
270480000 | |
| CY2021 | us-gaap |
Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
|
7270000 | |
| CY2021 | adex |
Payments Of Offering Costs
PaymentsOfOfferingCosts
|
651036 | |
| CY2021 | us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
150000 | |
| CY2020Q4 | us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
175000 | |
| CY2021 | us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
150000 | |
| CY2020Q4 | us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
25000 | |
| CY2020Q4 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
114360 | |
| CY2021 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
277098964 | |
| CY2020Q4 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
35640 | |
| CY2021 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
426660 | |
| CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
35614 | |
| CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
35614 | |
| CY2021 | adex |
Deferred Underwriting Commissions Charged To Additional Paid In Capital
DeferredUnderwritingCommissionsChargedToAdditionalPaidInCapital
|
9660000 | |
| CY2021 | adex |
Initial Value Of Common Stock Subject To Possible Redemption
InitialValueOfCommonStockSubjectToPossibleRedemption
|
276000000 | |
| CY2021 | adex |
Deferred Offering Costs Paid By Sponsor Loan
DeferredOfferingCostsPaidBySponsorLoan
|
18773 | |
| CY2021 | us-gaap |
Payments For Repurchase Of Private Placement
PaymentsForRepurchaseOfPrivatePlacement
|
6000476 | |
| CY2020Q4 | adex |
Deferred Offering Costs Included In Accrued Expenses
DeferredOfferingCostsIncludedInAccruedExpenses
|
329800 | |
| CY2020Q4 | adex |
Deferred Offering Costs Paid By Sponsor In Exchange For Issuance Of Common Stock
DeferredOfferingCostsPaidBySponsorInExchangeForIssuanceOfCommonStock
|
25000 | |
| CY2021Q1 | adex |
Sale Of Private Placement Warrants
SaleOfPrivatePlacementWarrants
|
6550000 | |
| CY2021Q1 | adex |
Cost Of Per Private Placement Warrant
CostOfPerPrivatePlacementWarrant
|
1.00 | |
| CY2021Q1 | adex |
Deferred Underwriting Fees
DeferredUnderwritingFees
|
720000 | |
| CY2021Q1 | adex |
Deferred Underwriting Discount
DeferredUnderwritingDiscount
|
9660000 | |
| CY2021Q1 | adex |
Other Offering Costs
OtherOfferingCosts
|
651036 | |
| CY2021Q1 | us-gaap |
Assets Held In Trust
AssetsHeldInTrust
|
276000000 | |
| CY2021Q4 | adex |
Anticipated Stock Redemption Price Per Share
AnticipatedStockRedemptionPricePerShare
|
10.00 | |
| CY2021Q4 | adex |
Business Combination Minimum Threshold Limit Of Net Intangible Assets Required
BusinessCombinationMinimumThresholdLimitOfNetIntangibleAssetsRequired
|
5000001 | |
| CY2021 | adex |
Restriction On Public Share Redemption In Case Of Stockholder Approval Of Business Combination
RestrictionOnPublicShareRedemptionInCaseOfStockholderApprovalOfBusinessCombination
|
0.15 | |
| CY2021 | adex |
Business Combination Incomplete Percentage Of Stock Redemption
BusinessCombinationIncompletePercentageOfStockRedemption
|
1 | |
| CY2021 | adex |
Business Combination Completion Date Of Acquisition
BusinessCombinationCompletionDateOfAcquisition
|
2023-01-14 | |
| CY2021Q1 | us-gaap |
Deferred Offering Costs
DeferredOfferingCosts
|
15831036 | |
| CY2021Q1 | adex |
Underwriting Discount
UnderwritingDiscount
|
5520000 | |
| CY2021Q4 | adex |
Business Combination Incomplete Maximum Dissolution Expenses To Be Paid
BusinessCombinationIncompleteMaximumDissolutionExpensesToBePaid
|
100000 | |
| CY2021 | adex |
Price Per Share Reduction To Amount Held In Trust
PricePerShareReductionToAmountHeldInTrust
|
10.00 | |
| CY2021Q4 | adex |
Operating Bank Account Balance
OperatingBankAccountBalance
|
462274 | |
| CY2021Q4 | adex |
Working Capital
WorkingCapital
|
2710629 | |
| CY2021Q4 | adex |
Operating Bank Account Balance
OperatingBankAccountBalance
|
462274 | |
| CY2021 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="margin-top:10pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;color:#212529;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="text-align:justify;margin-top:10pt;margin-bottom:0pt;text-indent:0%;color:#212529;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with GAAP requires the Company’s 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 financial statements and the reported amounts of revenues and expenses during the reporting period.</p> <p style="text-align:justify;margin-top:10pt;margin-bottom:0pt;text-indent:0%;color:#212529;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.</p> | |
| CY2021Q4 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
0 | |
| CY2020Q4 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
0 | |
| CY2021 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p style="margin-top:10pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;color:#212529;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Concentration of Credit Risk</p> <p style="text-align:justify;margin-top:10pt;margin-bottom:0pt;text-indent:0%;color:#212529;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed the Federal Depository Insurance Coverage of $250,000. At December 31, 2021 and 2020, the Company has not experienced losses on this account and management believes the Company is not exposed to significant risks on such account.</p> | |
| CY2021 | us-gaap |
Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
|
250000 | |
| CY2021Q4 | us-gaap |
Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
|
27600000 | |
| CY2021Q4 | us-gaap |
Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
|
27600000 | |
| CY2021 | adex |
Allocation Of Net Loss Including Shares Of Redeemable Common Stock Subject To Possible Redemption
AllocationOfNetLossIncludingSharesOfRedeemableCommonStockSubjectToPossibleRedemption
|
-2091672 | |
| CY2021 | adex |
Allocation Of Net Loss Including Shares Of Common Stock Subject To Possible Redemption
AllocationOfNetLossIncludingSharesOfCommonStockSubjectToPossibleRedemption
|
-541088 | |
| CY2021 | adex |
Weighted Average Redeemable Common Basic And Diluted
WeightedAverageRedeemableCommonBasicAndDiluted
|
26492055 | |
| CY2021 | adex |
Weighted Average Non Redeemable Common Basic And Diluted
WeightedAverageNonRedeemableCommonBasicAndDiluted
|
6853151 | |
| CY2021 | us-gaap |
Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
|
-0.08 | |
| CY2021 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.08 | |
| CY2020Q4 | adex |
Common Stock Shares Subject To Forfeiture
CommonStockSharesSubjectToForfeiture
|
900000 | |
| CY2020 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
0 | |
| CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0.0000 | |
| CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
|
11.50 | |
| CY2021 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.1170 | |
| CY2021 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0120 | |
| CY2021Q4 | us-gaap |
Share Price
SharePrice
|
9.90 | |
| CY2021 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0.0000 | |
| CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
|
11.50 | |
| CY2021 | us-gaap |
Derivatives Reporting Of Derivative Activity
DerivativesReportingOfDerivativeActivity
|
<p style="margin-top:10pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;color:#212529;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Derivative Financial Instruments</p> <p style="text-align:justify;margin-top:10pt;margin-bottom:0pt;text-indent:0%;color:#212529;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company does not use derivative instruments to hedge exposures to cash flow, market, or foreign currency risks. The Company evaluates all of its financial instruments, including issued stock purchase warrants, to determine if such </p> <p style="text-align:justify;margin-top:10pt;margin-bottom:0pt;color:#212529;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="color:#212529;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">instruments are derivatives or contain features that qualify as embedded derivatives, pursuant to ASC 480 and ASC 815-40,</span><span style="color:#212529;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </span><span style="color:#212529;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> “Derivatives and Hedging – Contracts in Entity’s Own Stock (“ASC 815-40”).” The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is re-assessed at the end of each reporting period.</span></p> <p style="text-align:justify;margin-top:10pt;margin-bottom:0pt;text-indent:0%;color:#212529;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">At December 31, 2021, the Company has evaluated both the public and private warrants under ASC 480 and ASC 815-40. <span style="Background-color:#FFFFFF;color:#000000;">Such guidance provides that because the Private Placement Warrants do not meet the criteria for equity treatment thereunder, each Private Placement Warrant must be recorded as a liability. Accordingly, the Company classified each warrant as a liability at its fair value. This liability is subject to re-measurement at each balance sheet date. With each such re-measurement, the warrant liability will be adjusted to fair value, with the change in fair value recognized in the Company’s statement of operations. The Private Placement Warrants had met the requirement for equity accounting treatment when initially issued. On December 23, 2021, the Private Placement Warrants were modified such that the Private Placement Warrants no longer meet the criteria for equity treatment. As such, the Private Placement Warrants were treated as derivative liability instruments from the date of the modification.</span></p> | |
| CY2021Q4 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
0 | |
| CY2020Q4 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
0 | |
| CY2021Q4 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
|
0 | |
| CY2020Q4 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
|
0 | |
| CY2021 | us-gaap |
Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
|
276000000 | |
| CY2021 | adex |
Proceeds Allocated To Public Warrants
ProceedsAllocatedToPublicWarrants
|
16771351 | |
| CY2021 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
14849933 | |
| CY2021Q4 | adex |
Accretion Of Carrying Value To Redemption Value
AccretionOfCarryingValueToRedemptionValue
|
31621284 | |
| CY2021Q4 | us-gaap |
Temporary Equity Aggregate Amount Of Redemption Requirement
TemporaryEquityAggregateAmountOfRedemptionRequirement
|
276000000 | |
| CY2021Q1 | adex |
Sale Of Private Placement Warrants
SaleOfPrivatePlacementWarrants
|
6550000 | |
| CY2021Q1 | adex |
Cost Of Per Private Placement Warrant
CostOfPerPrivatePlacementWarrant
|
1.00 | |
| CY2021Q1 | us-gaap |
Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
|
6550000 | |
| CY2021 | adex |
Share Holding Period Upon Closing Of Business Combination
ShareHoldingPeriodUponClosingOfBusinessCombination
|
P1Y | |
| CY2021Q4 | us-gaap |
Sale Of Stock Price Per Share
SaleOfStockPricePerShare
|
12.00 | |
| CY2021 | adex |
Minimum Share Holding Period Upon Closing Of Business Combination
MinimumShareHoldingPeriodUponClosingOfBusinessCombination
|
P150D | |
| CY2021 | adex |
Proceeds From Related Parties
ProceedsFromRelatedParties
|
18986 | |
| CY2021Q4 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
1.00 | |
| CY2021Q4 | us-gaap |
Held To Maturity Securities Accumulated Unrecognized Holding Gain
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingGain
|
4535 | |
| CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.1320 | |
| CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0121 | |
| CY2021Q4 | us-gaap |
Share Price
SharePrice
|
9.88 | |
| CY2021 | adex |
Registration Rights Agreement Term
RegistrationRightsAgreementTerm
|
The holders of the Founder Shares, Private Placement Warrants and any warrants that may be issued upon conversion of the Working Capital Loans (and any shares of common stock issuable upon the exercise of the Private Placement Warrants or warrants issued upon conversion of Working Capital Loans) are entitled to registration rights pursuant to a registration rights agreement signed on January 11, 2021, requiring the Company to register such securities for resale. The holders of these securities are entitled to make up to three demands, excluding short form demands, that the Company registers such securities. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements filed subsequent to the completion of a Business Combination and rights to require the Company to register for resale such securities pursuant to Rule 415 under the Securities Act. The registration rights agreement does not contain liquidating damages or other cash settlement provisions resulting from delays in registering the Company’s securities. The Company will bear the expenses incurred in connection with the filing of any such registration statements. | |
| CY2021 | adex |
Registration Rights Agreement Date
RegistrationRightsAgreementDate
|
2021-01-11 | |
| CY2021Q4 | adex |
Legal Fees Related To Merger
LegalFeesRelatedToMerger
|
2500000 | |
| CY2021Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | |
| CY2021Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
| CY2021Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | |
| CY2020Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | |
| CY2021Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | |
| CY2020Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | |
| CY2021Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
100000000 | |
| CY2021Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
| CY2021Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
6900000 | |
| CY2020Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
6900000 | |
| CY2021Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
6900000 | |
| CY2020Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
6900000 | |
| CY2021Q4 | us-gaap |
Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
|
27600000 | |
| CY2020Q4 | us-gaap |
Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
|
0 | |
| CY2021 | adex |
Warrants Exercisable Period After Completion Of Business Combination
WarrantsExercisablePeriodAfterCompletionOfBusinessCombination
|
P30D | |
| CY2021 | adex |
Warrant Expiration Period After Completion Of Business Combination Earlier Upon Redemption Liquidation
WarrantExpirationPeriodAfterCompletionOfBusinessCombinationEarlierUponRedemptionLiquidation
|
P5Y | |
| CY2021Q4 | adex |
Class Of Warrant Or Right Exercisable
ClassOfWarrantOrRightExercisable
|
0 | |
| CY2021Q4 | adex |
Class Of Warrant Or Right Redemption Price
ClassOfWarrantOrRightRedemptionPrice
|
0.01 | |
| CY2021 | adex |
Minimum Period Of Prior Written Notice Of Redemption Of Warrants
MinimumPeriodOfPriorWrittenNoticeOfRedemptionOfWarrants
|
P30D | |
| CY2021Q4 | adex |
Minimum Price Per Share Required For Redemption Of Warrants
MinimumPricePerShareRequiredForRedemptionOfWarrants
|
18.00 | |
| CY2021Q4 | adex |
Redemption Triggering Price Of Warrants
RedemptionTriggeringPriceOfWarrants
|
18.00 | |
| CY2021Q4 | adex |
Class Of Warrants Redemption Exercise Price Per Share
ClassOfWarrantsRedemptionExercisePricePerShare
|
11.50 | |
| CY2021Q4 | adex |
Maximum Effective Issue Price To Closing Of Business Combination
MaximumEffectiveIssuePriceToClosingOfBusinessCombination
|
9.20 | |
| CY2021Q4 | adex |
Minimum Percentage Of Equity Proceeds From Issuances
MinimumPercentageOfEquityProceedsFromIssuances
|
0.60 | |
| CY2021Q4 | adex |
Percentage Of Exercise Price Of Warrants Adjusted Equal To Higher Of Market Value And Newly Issued Price
PercentageOfExercisePriceOfWarrantsAdjustedEqualToHigherOfMarketValueAndNewlyIssuedPrice
|
1.15 | |
| CY2021Q4 | adex |
Redemption Triggering Price Of Warrants
RedemptionTriggeringPriceOfWarrants
|
18.00 | |
| CY2021Q4 | adex |
Percentage Of Warrant Redemption Trigger Price Adjusted Equal To Higher Of Market Value And Newly Issued Price
PercentageOfWarrantRedemptionTriggerPriceAdjustedEqualToHigherOfMarketValueAndNewlyIssuedPrice
|
1.80 | |
| CY2020 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-0.210 | |
| CY2021Q4 | adex |
Deferred Tax Assets Organizational Costs Startup Expenses
DeferredTaxAssetsOrganizationalCostsStartupExpenses
|
152798 | |
| CY2020Q4 | adex |
Deferred Tax Assets Organizational Costs Startup Expenses
DeferredTaxAssetsOrganizationalCostsStartupExpenses
|
111 | |
| CY2021Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
|
17851 | |
| CY2021Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
170650 | |
| CY2020Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
111 | |
| CY2021Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
170650 | |
| CY2020Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
111 | |
| CY2021 | us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
170539 | |
| CY2020 | us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
111 | |
| CY2021 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
170539 | |
| CY2020 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
111 | |
| CY2021 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
170539 | |
| CY2020 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
111 | |
| CY2021 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.210 | |
| CY2020 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.210 | |
| CY2021 | us-gaap |
Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
|
0.000 | |
| CY2020 | us-gaap |
Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
|
0.000 | |
| CY2021 | adex |
Effective Income Tax Rate Reconciliation Change In Fair Value Of Warrants
EffectiveIncomeTaxRateReconciliationChangeInFairValueOfWarrants
|
0.076 | |
| CY2020 | adex |
Effective Income Tax Rate Reconciliation Change In Fair Value Of Warrants
EffectiveIncomeTaxRateReconciliationChangeInFairValueOfWarrants
|
0.000 | |
| CY2021 | adex |
Effective Income Tax Rate Reconciliation Acquisition Related Expenses
EffectiveIncomeTaxRateReconciliationAcquisitionRelatedExpenses
|
-0.221 | |
| CY2020 | adex |
Effective Income Tax Rate Reconciliation Acquisition Related Expenses
EffectiveIncomeTaxRateReconciliationAcquisitionRelatedExpenses
|
0.000 | |
| CY2021 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-0.065 |
