2021 Q1 Form 10-Q Financial Statement

#000183003321000008 Filed on May 19, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $7.624M $1.238M
YoY Change 515.83%
% of Gross Profit
Research & Development $547.0K $348.0K
YoY Change 57.18%
% of Gross Profit
Depreciation & Amortization $490.0K $465.0K
YoY Change 5.38%
% of Gross Profit
Operating Expenses $10.30M $3.269M
YoY Change 215.11%
Operating Profit
YoY Change
Interest Expense $2.043M $588.0K
YoY Change 247.45%
% of Operating Profit
Other Income/Expense, Net -$15.77M -$1.295M
YoY Change 1117.99%
Pretax Income -$30.12M $0.00
YoY Change
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$26.07M -$4.564M
YoY Change 471.3%
Net Earnings / Revenue
Basic Earnings Per Share -$0.51 -$0.19
Diluted Earnings Per Share -$0.51 -$0.19
COMMON SHARES
Basic Shares Outstanding 51.22M shares 27.16M shares
Diluted Shares Outstanding 51.22M shares 27.16M shares

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $252.5M $100.0K
YoY Change 252400.0%
Cash & Equivalents $252.5M $3.109M
Short-Term Investments
Other Short-Term Assets $6.800M
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $259.3M $100.0K
YoY Change 259240.0%
LONG-TERM ASSETS
Property, Plant & Equipment $108.4M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $317.5M $100.0K
YoY Change 317400.0%
Total Long-Term Assets $425.9M $100.0K
YoY Change 425823.0%
TOTAL ASSETS
Total Short-Term Assets $259.3M $100.0K
Total Long-Term Assets $425.9M $100.0K
Total Assets $685.3M $200.0K
YoY Change 342531.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.481M $0.00
YoY Change
Accrued Expenses $18.45M $0.00
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $300.0K $200.0K
YoY Change 50.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $30.63M $200.0K
YoY Change 15213.0%
LONG-TERM LIABILITIES
Long-Term Debt $289.0M $0.00
YoY Change
Other Long-Term Liabilities $24.30M
YoY Change
Total Long-Term Liabilities $313.3M $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $30.63M $200.0K
Total Long-Term Liabilities $313.3M $0.00
Total Liabilities $343.9M $200.0K
YoY Change 171858.5%
SHAREHOLDERS EQUITY
Retained Earnings -$114.2M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $349.2M $9.807M
YoY Change
Total Liabilities & Shareholders Equity $685.3M $200.0K
YoY Change 342531.5%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income -$26.07M -$4.564M
YoY Change 471.3%
Depreciation, Depletion And Amortization $490.0K $465.0K
YoY Change 5.38%
Cash From Operating Activities -$20.57M -$4.919M
YoY Change 318.13%
INVESTING ACTIVITIES
Capital Expenditures -$33.89M
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$33.89M -$763.0K
YoY Change 4341.81%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $11.57M
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $294.0M $8.641M
YoY Change 3302.03%
NET CHANGE
Cash From Operating Activities -$20.57M -$4.919M
Cash From Investing Activities -$33.89M -$763.0K
Cash From Financing Activities $294.0M $8.641M
Net Change In Cash $239.5M $2.959M
YoY Change 7994.29%
FREE CASH FLOW
Cash From Operating Activities -$20.57M -$4.919M
Capital Expenditures -$33.89M
Free Cash Flow $13.32M
YoY Change

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60000000 USD
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ReclassificationsCertain amounts in prior periods have been reclassified to conform with the report classifications of the three months ended March 31, 2021, noting the Company has reflected the reverse recapitalization pursuant to the Business Combination for all periods presented within the unaudited condensed consolidated balance sheets and statements of stockholders’ equity.
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2021Q1 pct Reverse Recapitalization Conversion Price
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6.93
CY2021Q1 pct Reverse Recapitalization Conversion Shares
ReverseRecapitalizationConversionShares
8660000 shares
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CY2021Q1 pct Debt Instrument Unforgiven Portion Payable Term
DebtInstrumentUnforgivenPortionPayableTerm
P2Y
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P10M
CY2021Q1 us-gaap Common Stock Shares Authorized
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CommonStockSharesOutstanding
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ClassOfWarrantOrRightFairValueAssumptionsRiskFreeInterestRate
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CY2021Q1 us-gaap Class Of Warrant Or Right Outstanding
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CY2021Q1 pct Class Of Warrant Or Right Remaining Contractual Term
ClassOfWarrantOrRightRemainingContractualTerm
P5Y
CY2021Q1 pct Class Of Warrant Or Right Redemption Price Of Warrants Or Rights
ClassOfWarrantOrRightRedemptionPriceOfWarrantsOrRights
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CY2021Q1 pct Derivative Instrument Contingent Consideration Liability Earnout Period Stock Price Trigger
DerivativeInstrumentContingentConsiderationLiabilityEarnoutPeriodStockPriceTrigger
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CY2021Q1 pct Derivative Instrument Contingent Consideration Liability Earnout Period Threshold Trading Days
DerivativeInstrumentContingentConsiderationLiabilityEarnoutPeriodThresholdTradingDays
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CY2020Q1 us-gaap Depreciation
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465000 USD
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CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021Q1 us-gaap Property Plant And Equipment Net
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73018000 USD
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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2800000 USD
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70218000 USD
CY2021Q1 us-gaap Depreciation
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490000 USD
CY2021Q1 us-gaap Income Tax Expense Benefit
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0 USD
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2020Q4 pct Feedstock Supply Agreement Number Of Suppliers
FeedstockSupplyAgreementNumberOfSuppliers
1 supplier
CY2020Q4 pct Feedstock Supply Agreement Number Of Purchasers
FeedstockSupplyAgreementNumberOfPurchasers
2 purchaser

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