2022 Q3 Form 10-Q Financial Statement
#000121390022050009 Filed on August 22, 2022
Income Statement
Concept | 2022 Q3 | 2022 Q2 | 2022 Q1 |
---|---|---|---|
Revenue | $1.195M | $2.024M | $9.904M |
YoY Change | 399.35% | 52.95% | -48.64% |
Cost Of Revenue | $1.055M | $1.229M | $1.420M |
YoY Change | 890.96% | -19.23% | -90.08% |
Gross Profit | $140.7K | $795.3K | $8.485M |
YoY Change | 5.81% | -502.17% | 70.67% |
Gross Profit Margin | 11.77% | 39.3% | 85.67% |
Selling, General & Admin | $2.806M | $3.179M | $2.513M |
YoY Change | -30.66% | -8.71% | -7.81% |
% of Gross Profit | 1994.36% | 399.75% | 29.61% |
Research & Development | $0.00 | $13.77K | $0.00 |
YoY Change | -100.0% | ||
% of Gross Profit | 0.0% | 1.73% | 0.0% |
Depreciation & Amortization | $49.49K | $53.58K | $454.6K |
YoY Change | -88.78% | 7.67% | -3.83% |
% of Gross Profit | 35.18% | 6.74% | 5.36% |
Operating Expenses | $2.462M | $3.927M | $1.363M |
YoY Change | -45.35% | 21.95% | -55.71% |
Operating Profit | -$2.322M | -$3.131M | $7.122M |
YoY Change | -46.9% | -8.38% | 276.02% |
Interest Expense | $364.1K | -$489.8K | -$869.2K |
YoY Change | 82.88% | 191.22% | |
% of Operating Profit | -12.2% | ||
Other Income/Expense, Net | -$29.33K | $7.918K | |
YoY Change | 2495.49% | -94.93% | |
Pretax Income | -$2.351M | -$3.123M | -$808.6K |
YoY Change | -43.68% | -4.24% | -152.06% |
Income Tax | -$655.9K | ||
% Of Pretax Income | |||
Net Earnings | -$2.242M | -$3.259M | -$808.6K |
YoY Change | -46.3% | -0.08% | -152.06% |
Net Earnings / Revenue | -187.55% | -161.04% | -8.16% |
Basic Earnings Per Share | -$0.05 | -$0.07 | |
Diluted Earnings Per Share | -$0.05 | -$0.07 | -$17.10K |
COMMON SHARES | |||
Basic Shares Outstanding | 47.03M shares | 47.34M shares | |
Diluted Shares Outstanding | 47.34M shares | 47.34M shares |
Balance Sheet
Concept | 2022 Q3 | 2022 Q2 | 2022 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $4.567M | $6.880M | $8.219M |
YoY Change | -72.81% | -63.83% | -66.54% |
Cash & Equivalents | $3.026M | $4.498M | $6.286M |
Short-Term Investments | $1.541M | $2.382M | $1.932M |
Other Short-Term Assets | $2.444M | $1.327M | $620.1K |
YoY Change | 38.03% | -12.15% | -33.54% |
Inventory | |||
Prepaid Expenses | $1.601M | $1.248M | $582.1K |
Receivables | $2.222M | $2.826M | $5.416M |
Other Receivables | $136.1K | $678.0K | $10.60M |
Total Short-Term Assets | $9.368M | $11.71M | $24.85M |
YoY Change | -69.69% | -67.04% | -37.14% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $964.3K | $1.072M | $1.166M |
YoY Change | -54.06% | -52.09% | -5.17% |
Goodwill | |||
YoY Change | |||
Intangibles | $6.659M | $6.879M | $7.100M |
YoY Change | -36.5% | ||
Long-Term Investments | €13.00M | $0.00 | |
YoY Change | 1996.23% | -100.0% | |
Other Assets | $20.10M | $11.74M | $4.805M |
YoY Change | 604.78% | 353.39% | 82.23% |
Total Long-Term Assets | $28.25M | $20.32M | $13.81M |
YoY Change | 38.52% | -5.02% | -40.46% |
TOTAL ASSETS | |||
Total Short-Term Assets | $9.368M | $11.71M | $24.85M |
Total Long-Term Assets | $28.25M | $20.32M | $13.81M |
Total Assets | $37.62M | $32.03M | $38.67M |
YoY Change | -26.67% | -43.73% | -38.37% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $1.211M | $1.516M | $757.1K |
YoY Change | 132.62% | -33.72% | -80.89% |
Accrued Expenses | $3.712M | $4.604M | $8.568M |
YoY Change | -76.1% | -76.79% | -59.7% |
Deferred Revenue | $8.039M | $8.098M | |
YoY Change | |||
Short-Term Debt | $533.3K | $189.4K | $55.00K |
YoY Change | 752.36% | 179.25% | -20.27% |
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $17.04M | $16.25M | $19.08M |
YoY Change | -54.32% | -57.31% | -52.45% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $1.134M | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $48.59K | $99.21K | $342.0K |
YoY Change | -96.89% | -95.77% | -91.69% |
Total Long-Term Liabilities | $1.183M | $99.21K | $342.0K |
YoY Change | -24.32% | -95.77% | -91.69% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $17.04M | $16.25M | $19.08M |
Total Long-Term Liabilities | $1.183M | $99.21K | $342.0K |
Total Liabilities | $18.23M | $16.35M | $19.42M |
YoY Change | -53.11% | -59.54% | -56.1% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$91.03M | -$88.79M | -$85.53M |
YoY Change | 14.38% | ||
Common Stock | $47.03K | $47.03K | $47.03K |
YoY Change | 0.08% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | $99.75K | $99.75K | $99.75K |
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $3.226M | $5.255M | $8.882M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $37.62M | $32.03M | $38.67M |
YoY Change | -26.67% | -43.73% | -38.37% |
Cashflow Statement
Concept | 2022 Q3 | 2022 Q2 | 2022 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$2.242M | -$3.259M | -$808.6K |
YoY Change | -46.3% | -0.08% | -152.06% |
Depreciation, Depletion And Amortization | $49.49K | $53.58K | $454.6K |
YoY Change | -88.78% | 7.67% | -3.83% |
Cash From Operating Activities | -$11.18M | $6.312M | -$2.345M |
YoY Change | 430.22% | -215.04% | -117.26% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $0.00 | $9.052K | -$60.96K |
YoY Change | -100.0% | -62.29% | -90.73% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$8.347M | -$6.970M | -$1.855M |
YoY Change | 3447.3% | 102.52% | |
Cash From Investing Activities | -$8.347M | -$6.979M | -$1.916M |
YoY Change | 150836.35% | 28973.05% | 21.72% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 17.83M | 0.000 | 0.000 |
YoY Change | 7133704.0% | ||
NET CHANGE | |||
Cash From Operating Activities | -11.18M | $6.312M | -2.345M |
Cash From Investing Activities | -8.347M | -$6.979M | -1.916M |
Cash From Financing Activities | 17.83M | 0.000 | 0.000 |
Net Change In Cash | -1.695M | -$1.789M | -4.261M |
YoY Change | -19.84% | -67.28% | -135.48% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$11.18M | $6.312M | -$2.345M |
Capital Expenditures | $0.00 | $9.052K | -$60.96K |
Free Cash Flow | -$11.18M | $6.303M | -$2.284M |
YoY Change | 431.62% | -214.37% | -116.04% |
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CY2021Q2 | pgtk |
Office And Miscellaneous
OfficeAndMiscellaneous
|
378263 | usd |
CY2022Q2 | us-gaap |
Professional Fees
ProfessionalFees
|
287025 | usd |
CY2021Q2 | us-gaap |
Professional Fees
ProfessionalFees
|
276669 | usd |
CY2022Q2 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
13772 | usd |
CY2022Q2 | pgtk |
Salaries And Wage Expenses
SalariesAndWageExpenses
|
982914 | usd |
CY2021Q2 | pgtk |
Salaries And Wage Expenses
SalariesAndWageExpenses
|
1255206 | usd |
CY2022Q2 | pgtk |
Other Financial Service Costs
OtherFinancialServiceCosts
|
13754 | usd |
CY2021Q2 | pgtk |
Other Financial Service Costs
OtherFinancialServiceCosts
|
13175 | usd |
CY2022Q2 | us-gaap |
Travel And Entertainment Expense
TravelAndEntertainmentExpense
|
190767 | usd |
CY2021Q2 | us-gaap |
Travel And Entertainment Expense
TravelAndEntertainmentExpense
|
66113 | usd |
CY2022Q2 | pgtk |
Warranty And Related Note13
WarrantyAndRelatedNote13
|
181600 | usd |
CY2021Q2 | pgtk |
Warranty And Related Note13
WarrantyAndRelatedNote13
|
-39807 | usd |
CY2022Q2 | us-gaap |
Operating Expenses
OperatingExpenses
|
3926657 | usd |
CY2021Q2 | us-gaap |
Operating Expenses
OperatingExpenses
|
3219984 | usd |
CY2022Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-3131324 | usd |
CY2021Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-3417743 | usd |
CY2022Q2 | pgtk |
Interest Income On Finance Lease
InterestIncomeOnFinanceLease
|
46269 | usd |
CY2021Q2 | pgtk |
Interest Income On Finance Lease
InterestIncomeOnFinanceLease
|
97626 | usd |
CY2022Q2 | us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
-38351 | usd |
CY2021Q2 | us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
58414 | usd |
CY2022Q2 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
7918 | usd |
CY2021Q2 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
156040 | usd |
CY2022Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-3123406 | usd |
CY2021Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-3261703 | usd |
CY2022Q2 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
-135824 | usd |
CY2022Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-3259230 | usd |
CY2021Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-3261703 | usd |
CY2022Q2 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
|
384835 | usd |
CY2021Q2 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
|
-176116 | usd |
CY2022Q2 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-3644065 | usd |
CY2021Q2 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-3085587 | usd |
CY2022Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.07 | |
CY2021Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.07 | |
CY2022Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.07 | |
CY2021Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.07 | |
CY2022Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
47339386 | shares |
CY2021Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
47328065 | shares |
CY2021Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
18488967 | usd |
CY2021Q2 | pgtk |
Adjustments To Additional Paid In Capital Fair Value Of Options Granted
AdjustmentsToAdditionalPaidInCapitalFairValueOfOptionsGranted
|
13788 | usd |
CY2021Q2 | us-gaap |
Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
|
176116 | usd |
CY2021Q2 | us-gaap |
Profit Loss
ProfitLoss
|
-3261703 | usd |
CY2021Q2 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
15417168 | usd |
CY2022Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
19243537 | usd |
CY2022Q2 | pgtk |
Adjustments To Additional Paid In Capital Fair Value Of Options Granted
AdjustmentsToAdditionalPaidInCapitalFairValueOfOptionsGranted
|
17718 | usd |
CY2022Q2 | pgtk |
Noncontrolling Interest Coupon Distribution
NoncontrollingInterestCouponDistribution
|
67571 | usd |
CY2022Q2 | us-gaap |
Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
|
-384835 | usd |
CY2022Q2 | us-gaap |
Profit Loss
ProfitLoss
|
-3259230 | usd |
CY2022Q2 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
15684761 | usd |
CY2022Q2 | us-gaap |
Profit Loss
ProfitLoss
|
-3259230 | usd |
CY2021Q2 | us-gaap |
Profit Loss
ProfitLoss
|
-3261703 | usd |
CY2022Q2 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
220055 | usd |
CY2021Q2 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
390490 | usd |
CY2022Q2 | us-gaap |
Depreciation
Depreciation
|
53584 | usd |
CY2021Q2 | us-gaap |
Depreciation
Depreciation
|
49766 | usd |
CY2022Q2 | pgtk |
Fair Value Of Stock Options Granted
FairValueOfStockOptionsGranted
|
17718 | usd |
CY2021Q2 | pgtk |
Fair Value Of Stock Options Granted
FairValueOfStockOptionsGranted
|
13788 | usd |
CY2022Q2 | pgtk |
Financing Interest
FinancingInterest
|
-46269 | usd |
CY2021Q2 | pgtk |
Financing Interest
FinancingInterest
|
-97626 | usd |
CY2022Q2 | us-gaap |
Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
|
-737833 | usd |
CY2021Q2 | us-gaap |
Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
|
7962 | usd |
CY2021Q2 | pgtk |
Interest Accretion On Finance Lease
InterestAccretionOnFinanceLease
|
5486 | usd |
CY2022Q2 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
109737 | usd |
CY2021Q2 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
123155 | usd |
CY2022Q2 | pgtk |
Increase Decrease In Shortterm Investments And Amount Held In Trust
IncreaseDecreaseInShorttermInvestmentsAndAmountHeldInTrust
|
450152 | usd |
CY2021Q2 | pgtk |
Increase Decrease In Shortterm Investments And Amount Held In Trust
IncreaseDecreaseInShorttermInvestmentsAndAmountHeldInTrust
|
-76325 | usd |
CY2022Q2 | pgtk |
Accounts Receivable And Other Receivables
AccountsReceivableAndOtherReceivables
|
-12406327 | usd |
CY2021Q2 | pgtk |
Accounts Receivable And Other Receivables
AccountsReceivableAndOtherReceivables
|
-1712301 | usd |
CY2022Q2 | pgtk |
Increase Decrease In Accrued Revenue
IncreaseDecreaseInAccruedRevenue
|
219558 | usd |
CY2021Q2 | pgtk |
Increase Decrease In Accrued Revenue
IncreaseDecreaseInAccruedRevenue
|
1473730 | usd |
CY2022Q2 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
666321 | usd |
CY2021Q2 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
530284 | usd |
CY2022Q2 | us-gaap |
Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
|
35851 | usd |
CY2022Q2 | pgtk |
Increase Decrease In Lease Payments
IncreaseDecreaseInLeasePayments
|
235502 | usd |
CY2021Q2 | pgtk |
Increase Decrease In Lease Payments
IncreaseDecreaseInLeasePayments
|
128795 | usd |
CY2022Q2 | pgtk |
Increase Decrease In Prepaid Manufacturing Costs
IncreaseDecreaseInPrepaidManufacturingCosts
|
-40907 | usd |
CY2021Q2 | pgtk |
Increase Decrease In Prepaid Manufacturing Costs
IncreaseDecreaseInPrepaidManufacturingCosts
|
82171 | usd |
CY2022Q2 | us-gaap |
Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
|
-3237082 | usd |
CY2021Q2 | us-gaap |
Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
|
-5052017 | usd |
CY2022Q2 | pgtk |
Increase Decrease In Warranty Accrual
IncreaseDecreaseInWarrantyAccrual
|
65845 | usd |
CY2021Q2 | pgtk |
Increase Decrease In Warranty Accrual
IncreaseDecreaseInWarrantyAccrual
|
-141644 | usd |
CY2022Q2 | pgtk |
Increase Decrease In Contract Liabilities
IncreaseDecreaseInContractLiabilities
|
-302036 | usd |
CY2021Q2 | pgtk |
Increase Decrease In Contract Liabilities
IncreaseDecreaseInContractLiabilities
|
19313 | usd |
CY2022Q2 | us-gaap |
Increase Decrease In Due To Other Related Parties Current
IncreaseDecreaseInDueToOtherRelatedPartiesCurrent
|
78946 | usd |
CY2021Q2 | us-gaap |
Increase Decrease In Due To Other Related Parties Current
IncreaseDecreaseInDueToOtherRelatedPartiesCurrent
|
-174837 | usd |
CY2022Q2 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
6312027 | usd |
CY2021Q2 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-5486969 | usd |
CY2022Q2 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
9052 | usd |
CY2021Q2 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
24005 | usd |
CY2022Q2 | pgtk |
Increase Decrease Projects Under Development
IncreaseDecreaseProjectsUnderDevelopment
|
-6969934 | usd |
CY2022Q2 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-6978986 | usd |
CY2021Q2 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-24005 | usd |
CY2022Q2 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
-1121995 | usd |
CY2021Q2 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
43056 | usd |
CY2022Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-1788954 | usd |
CY2021Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-5467918 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
6286468 | usd |
CY2021Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
23436417 | usd |
CY2022Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
4497514 | usd |
CY2021Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
17968499 | usd |
CY2022Q2 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1.</b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Nature of Operations</b></span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 18pt; text-align: justify">Pacific Green Technologies Inc. (the “Company”) was incorporated in the state of Delaware, USA on March 10, 1994. The Company is in the business of acquiring, developing, and marketing environmental technologies, with a focus on emission control technologies.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 18pt; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 18pt; text-align: justify">The condensed consolidated interim financial statements of the Company should be read in conjunction with the consolidated financial statements and accompanying notes filed with the U.S. Securities and Exchange Commission in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2022. In the opinion of management, the accompanying condensed consolidated interim financial statements reflect all adjustments of a recurring nature considered necessary to present fairly the Company’s financial position and the results of its operations and its cash flows for the periods shown.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 18pt; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 18pt; text-align: justify">The preparation of these condensed consolidated interim financial statements in accordance with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported. Actual results could differ materially from those estimates. The results of operations and cash flows for the periods shown are not necessarily indicative of the results to be expected for the full year.</p> | |
CY2022Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Rolling After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseRollingAfterYearFive
|
2703623 | usd |
CY2022Q2 | us-gaap |
Finite Lived Intangible Assets Fair Value Disclosure
FiniteLivedIntangibleAssetsFairValueDisclosure
|
6879228 | usd |
CY2021Q1 | us-gaap |
Business Acquisitions Purchase Price Allocation Year Of Acquisition Description
BusinessAcquisitionsPurchasePriceAllocationYearOfAcquisitionDescription
|
The purchase consideration included cash payments of $681,957 (£494,351) made on March 18, 2021 and three conditional payments of $515,622 (£374,500) each on specified dates according to the share purchase agreement. | |
CY2022Q2 | pgtk |
Total Puchase Consideration
TotalPuchaseConsideration
|
2166452 | usd |
CY2022Q2 | us-gaap |
Cash
Cash
|
1 | usd |
CY2022Q2 | pgtk |
Interest Accretion On Finance Lease
InterestAccretionOnFinanceLease
|
usd | |
CY2022Q2 | pgtk |
Proceeds From Customer Refundable Fees
ProceedsFromCustomerRefundableFees
|
2323476 | usd |
CY2022 | pgtk |
Proceeds From Customer Refundable Fees
ProceedsFromCustomerRefundableFees
|
1871486 | usd |
CY2022Q2 | us-gaap |
Depreciation
Depreciation
|
53584 | usd |
CY2021Q2 | us-gaap |
Depreciation
Depreciation
|
49766 | usd |
CY2022Q2 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
35864699 | usd |
CY2022Q2 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
-8528216 | usd |
CY2022Q2 | pgtk |
Cumulative Impairment
CumulativeImpairment
|
-20457255 | usd |
CY2022Q2 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
6879228 | usd |
CY2022Q1 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
7099748 | usd |
CY2021Q2 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
390490 | usd |
CY2022Q2 | us-gaap |
Cost Depreciation Amortization And Depletion
CostDepreciationAmortizationAndDepletion
|
219367 | usd |
CY2021Q2 | us-gaap |
Cost Depreciation Amortization And Depletion
CostDepreciationAmortizationAndDepletion
|
219367 | usd |
CY2022Q2 | us-gaap |
Other Depreciation And Amortization
OtherDepreciationAndAmortization
|
688 | usd |
CY2021Q2 | us-gaap |
Other Depreciation And Amortization
OtherDepreciationAndAmortization
|
171124 | usd |
CY2022Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Next Rolling Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextRollingTwelveMonths
|
660099 | usd |
CY2022Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Rolling Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearTwo
|
880132 | usd |
CY2022Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Rolling Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree
|
880132 | usd |
CY2022Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Rolling Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour
|
877790 | usd |
CY2022Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Rolling Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFive
|
877452 | usd |
CY2022Q2 | pgtk |
Net Working Capital
NetWorkingCapital
|
535 | usd |
CY2022Q2 | pgtk |
Securites Deposit
SecuritesDeposit
|
164799 | usd |
CY2022Q2 | us-gaap |
Long Term Debt Fair Value
LongTermDebtFairValue
|
2001116 | usd |
CY2022 | us-gaap |
Other Research And Development Expense
OtherResearchAndDevelopmentExpense
|
1854676 | usd |
CY2022Q2 | us-gaap |
Other Research And Development Expense
OtherResearchAndDevelopmentExpense
|
6969934 | usd |
CY2022Q1 | us-gaap |
Equity Method Investment Aggregate Cost
EquityMethodInvestmentAggregateCost
|
16000000 | usd |
CY2022Q1 | us-gaap |
Equity Method Investment Aggregate Cost
EquityMethodInvestmentAggregateCost
|
13000000 | eur |
CY2022Q1 | pgtk |
Equity Voting Rights Percentage
EquityVotingRightsPercentage
|
0.65 | pure |
CY2022Q1 | us-gaap |
Minority Interest Description
MinorityInterestDescription
|
The Company received $7.0 million (£5.35 million) on April 1, 2022, $1.9 million (£1.43 million) during May 2022 and a further $0.5 million (£0.41 million) in June 2022. It will receive the remaining $7.6 million (£5.81 million) demand in July and August 2022 as project cash requirements demand. | |
CY2020Q4 | pgtk |
Interest In Joint Venture
InterestInJointVenture
|
0.70 | pure |
CY2022Q2 | us-gaap |
Loans Payable
LoansPayable
|
419849 | usd |
CY2022Q2 | us-gaap |
Revenues
Revenues
|
2023876 | usd |
CY2021Q2 | us-gaap |
Revenues
Revenues
|
1323250 | usd |
CY2022Q2 | pgtk |
Service Revenue
ServiceRevenue
|
368718 | usd |
CY2021Q2 | pgtk |
Service Revenue
ServiceRevenue
|
580960 | usd |
CY2022Q2 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
1516080 | usd |
CY2022Q1 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
757102 | usd |
CY2022Q2 | us-gaap |
Environmental Costs Recognized Capitalized
EnvironmentalCostsRecognizedCapitalized
|
623166 | usd |
CY2021Q2 | us-gaap |
Environmental Costs Recognized Capitalized
EnvironmentalCostsRecognizedCapitalized
|
584287 | usd |
CY2022Q2 | us-gaap |
Salaries Wages And Officers Compensation
SalariesWagesAndOfficersCompensation
|
62379 | usd |
CY2021Q2 | us-gaap |
Salaries Wages And Officers Compensation
SalariesWagesAndOfficersCompensation
|
164432 | usd |
CY2022Q2 | pgtk |
Amortization Of Intangibles
AmortizationOfIntangibles
|
219366 | usd |
CY2021Q2 | pgtk |
Amortization Of Intangibles
AmortizationOfIntangibles
|
219366 | usd |
CY2022Q2 | us-gaap |
Sales Commissions And Fees
SalesCommissionsAndFees
|
82296 | usd |
CY2021Q2 | us-gaap |
Sales Commissions And Fees
SalesCommissionsAndFees
|
262034 | usd |
CY2022Q2 | us-gaap |
Business Development
BusinessDevelopment
|
98968 | usd |
CY2021Q2 | us-gaap |
Business Development
BusinessDevelopment
|
162954 | usd |
CY2022Q2 | us-gaap |
Merchant Marine Operating Differential Subsidy
MerchantMarineOperatingDifferentialSubsidy
|
142368 | usd |
CY2021Q2 | us-gaap |
Merchant Marine Operating Differential Subsidy
MerchantMarineOperatingDifferentialSubsidy
|
127936 | usd |
CY2022Q2 | us-gaap |
Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
|
1228543 | usd |
CY2021Q2 | us-gaap |
Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
|
1521009 | usd |
CY2022Q2 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
8038674 | usd |
CY2022Q1 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
8098009 | usd |
CY2022Q2 | us-gaap |
Lease Expiration Date1
LeaseExpirationDate1
|
2023-02-09 | |
CY2022Q2 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
4603994 | usd |
CY2022Q1 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
8567795 | usd |
CY2022Q2 | us-gaap |
Loans Payable Fair Value Disclosure
LoansPayableFairValueDisclosure
|
48271 | usd |
CY2022Q1 | us-gaap |
Loans Payable Fair Value Disclosure
LoansPayableFairValueDisclosure
|
55003 | usd |
CY2022Q2 | us-gaap |
Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
|
189361 | usd |
CY2022Q1 | us-gaap |
Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
|
214887 | usd |
CY2022Q2 | pgtk |
Account Payable And Accrued Liabilities Current
AccountPayableAndAccruedLiabilitiesCurrent
|
6357706 | usd |
CY2022Q1 | pgtk |
Account Payable And Accrued Liabilities Current
AccountPayableAndAccruedLiabilitiesCurrent
|
9594787 | usd |
CY2022Q2 | pgtk |
Provision For Warranty
ProvisionForWarranty
|
181600 | usd |
CY2021Q2 | pgtk |
Provision For Warranty
ProvisionForWarranty
|
39807 | usd |
CY2022Q2 | pgtk |
Warrant Balance Beginning Of Period
WarrantBalanceBeginningOfPeriod
|
865451 | usd |
CY2022 | pgtk |
Warrant Balance Beginning Of Period
WarrantBalanceBeginningOfPeriod
|
2425107 | usd |
CY2022Q2 | pgtk |
Warranty Expense
WarrantyExpense
|
181600 | usd |
CY2022 | pgtk |
Warranty Expense
WarrantyExpense
|
-731529 | usd |
CY2022Q2 | pgtk |
Expense Incurred
ExpenseIncurred
|
-115755 | usd |
CY2022 | pgtk |
Expense Incurred
ExpenseIncurred
|
-828127 | usd |
CY2022Q2 | pgtk |
Warrant Balance End Of Period
WarrantBalanceEndOfPeriod
|
931296 | usd |
CY2022 | pgtk |
Warrant Balance End Of Period
WarrantBalanceEndOfPeriod
|
865451 | usd |
CY2022Q2 | us-gaap |
Related Party Transaction Description Of Transaction
RelatedPartyTransactionDescriptionOfTransaction
|
(a)As at June 30, 2022, the Company owed $83,196 to (March 31, 2022 – $4,250) companies controlled by a director and officer of the Company. The amounts owing are unsecured, non-interest bearing, and due on demand. (b)During the three months ended June 30, 2022, the Company incurred $220,838 (2021 – $205,752) in consulting fees, salaries, and commissions to companies controlled by a director of the Company. (c)During the three months ended June 30, 2022, the Company incurred $54,866 (2021– $12,750) in consulting fees to a director, or companies controlled by a director of the Company. (d)During the three months ended June 30, 2022, the Company incurred $250,368 (2021– $nil) in consulting fees to a director, or companies controlled by a director of a Subsidiary of the Company. | |
CY2022Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
537500 | shares |
CY2022Q2 | pgtk |
Fair Value Of Stock Options Granted
FairValueOfStockOptionsGranted
|
17718 | usd |
CY2021Q2 | pgtk |
Fair Value Of Stock Options Granted
FairValueOfStockOptionsGranted
|
13788 | usd |
CY2022Q2 | pgtk |
Fair Value Risk Free Interest Rate
FairValueRiskFreeInterestRate
|
0.019 | pure |
CY2022Q2 | pgtk |
Faiir Value Expected Life In Years
FaiirValueExpectedLifeInYears
|
P3Y1M13D | |
CY2022Q2 | pgtk |
Fair Value Of Expected Volatility
FairValueOfExpectedVolatility
|
1.29 | pure |
CY2022Q2 | us-gaap |
Property Plant And Equipment Owned Net
PropertyPlantAndEquipmentOwnedNet
|
1072433 | usd |
CY2022Q2 | us-gaap |
Intangible Assets Current
IntangibleAssetsCurrent
|
6879228 | usd |
CY2022Q2 | pgtk |
Right Of Use Asset
RightOfUseAsset
|
628353 | usd |
CY2022Q2 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Noncurrent Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentAssets
|
8580014 | usd |
CY2022Q1 | us-gaap |
Property Plant And Equipment Owned Net
PropertyPlantAndEquipmentOwnedNet
|
1166241 | usd |
CY2022Q1 | us-gaap |
Intangible Assets Current
IntangibleAssetsCurrent
|
7099748 | usd |
CY2022Q1 | pgtk |
Right Of Use Asset
RightOfUseAsset
|
739091 | usd |
CY2022Q1 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Noncurrent Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentAssets
|
9005080 | usd |
CY2022Q2 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
109737 | usd |
CY2021Q2 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
123155 | usd |
CY2022Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
334584 | usd |
CY2022Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
148216 | usd |
CY2022Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
|
47759 | usd |
CY2022Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
530559 | usd |
CY2022Q2 | pgtk |
Imputed Interest
ImputedInterest
|
2091 | usd |
CY2022Q2 | pgtk |
Operating Lease Obligations
OperatingLeaseObligations
|
528468 | usd |
CY2017Q3 | us-gaap |
Other Commitments Description
OtherCommitmentsDescription
|
The parties will fund the venture proportionately, 50.1% by the Company and 49.9% by the Supplier, and excess operating cash flows will be distributed on a quarterly basis. | |
CY2022Q2 | us-gaap |
Other Tax Expense Benefit
OtherTaxExpenseBenefit
|
-3123406 | usd |
CY2021Q2 | us-gaap |
Other Tax Expense Benefit
OtherTaxExpenseBenefit
|
-3261703 | usd |
CY2022Q2 | us-gaap |
Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
|
-3123406 | usd |
CY2021Q2 | us-gaap |
Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
|
-3261703 | usd |
CY2022Q2 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.21 | pure |
CY2021Q2 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.21 | pure |
CY2022Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-655915 | usd |
CY2021Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-684958 | usd |
CY2022Q2 | pgtk |
Income Tax Reconciliation Permanent Differences And Other
IncomeTaxReconciliationPermanentDifferencesAndOther
|
121545 | usd |
CY2021Q2 | pgtk |
Income Tax Reconciliation Permanent Differences And Other
IncomeTaxReconciliationPermanentDifferencesAndOther
|
47704 | usd |
CY2022Q2 | us-gaap |
Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
|
-861 | usd |
CY2021Q2 | us-gaap |
Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
|
-23282 | usd |
CY2022Q2 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
535231 | usd |
CY2021Q2 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
660536 | usd |
CY2022Q2 | pgtk |
Tax Benefit Measured Percentage
TaxBenefitMeasuredPercentage
|
0.50 | pure |
CY2022Q2 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
25700000 | usd |
CY2022Q2 | us-gaap |
Deferred Tax Assets Unrealized Losses On Availablefor Sale Securities Gross
DeferredTaxAssetsUnrealizedLossesOnAvailableforSaleSecuritiesGross
|
4000000 | usd |
CY2022Q2 | dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2023 | |
CY2022Q1 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
usd | |
CY2021Q2 | us-gaap |
Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
|
usd | |
CY2021Q2 | pgtk |
Increase Decrease Projects Under Development
IncreaseDecreaseProjectsUnderDevelopment
|
usd | |
CY2022Q2 | pgtk |
Total Contract Liability
TotalContractLiability
|
usd | |
CY2022Q2 | pgtk |
Income Tax Provision
IncomeTaxProvision
|
usd | |
CY2021Q2 | pgtk |
Income Tax Provision
IncomeTaxProvision
|
usd | |
CY2022Q2 | us-gaap |
Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
|
usd | |
CY2021Q2 | us-gaap |
Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
|
usd | |
CY2022Q2 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
usd | |
CY2021Q2 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
usd | |
CY2022Q2 | pgtk |
Income Tax Provision
IncomeTaxProvision
|
usd | |
CY2021Q2 | pgtk |
Income Tax Provision
IncomeTaxProvision
|
usd | |
CY2022Q2 | dei |
Amendment Flag
AmendmentFlag
|
false | |
CY2022Q2 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--03-31 | |
CY2022Q2 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q1 | |
CY2022Q2 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001553404 |