2023 Q4 Form 10-Q Financial Statement

#000121390023086881 Filed on November 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q3
Revenue $85.96M $1.165M $1.195M
YoY Change 2261.59% -2.54% 399.35%
Cost Of Revenue $61.22M $1.600M $1.055M
YoY Change 1928.87% 51.71% 890.96%
Gross Profit $24.74M -$435.0K $140.7K
YoY Change 3874.46% -409.26% 5.81%
Gross Profit Margin 28.78% -37.34% 11.77%
Selling, General & Admin $11.82M $6.723M $2.806M
YoY Change 250.8% 139.63% -30.66%
% of Gross Profit 47.79% 1994.36%
Research & Development $112.3K $112.1K $0.00
YoY Change
% of Gross Profit 0.45% 0.0%
Depreciation & Amortization $39.91K $38.30K $49.49K
YoY Change -12.47% -22.62% -88.78%
% of Gross Profit 0.16% 35.18%
Operating Expenses $12.32M $7.126M $2.462M
YoY Change 362.25% 189.4% -45.35%
Operating Profit $12.42M -$7.561M -$2.322M
YoY Change -707.76% 225.67% -46.9%
Interest Expense -$1.641M -$964.2K $364.1K
YoY Change 802.87% -364.85% 82.88%
% of Operating Profit -13.21%
Other Income/Expense, Net -$366.3K $4.791M -$29.33K
YoY Change 95.37% -16436.79% 2495.49%
Pretax Income $12.05M -$2.770M -$2.351M
YoY Change -640.25% 17.8% -43.68%
Income Tax $1.166M
% Of Pretax Income 9.67%
Net Earnings $10.92M -$2.736M -$2.242M
YoY Change -590.98% 22.05% -46.3%
Net Earnings / Revenue 12.7% -234.86% -187.55%
Basic Earnings Per Share $0.21 -$0.06 -$0.05
Diluted Earnings Per Share $0.21 -$0.05 -$0.05
COMMON SHARES
Basic Shares Outstanding 52.22M shares 49.97M shares 47.03M shares
Diluted Shares Outstanding 52.46M shares 49.69M shares 47.34M shares

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $13.06M $1.439M $4.567M
YoY Change 402.13% -68.48% -72.81%
Cash & Equivalents $13.06M $1.439M $3.026M
Short-Term Investments $0.00 $0.00 $1.541M
Other Short-Term Assets $6.528M $3.993M $2.444M
YoY Change 462.31% 63.41% 38.03%
Inventory
Prepaid Expenses $881.3K $1.207M $1.601M
Receivables $520.2K $1.101M $2.222M
Other Receivables $5.255M $6.479M $136.1K
Total Short-Term Assets $25.80M $27.43M $9.368M
YoY Change 288.18% 192.78% -69.69%
LONG-TERM ASSETS
Property, Plant & Equipment $748.1K $760.0K $964.3K
YoY Change -20.9% -21.18% -54.06%
Goodwill
YoY Change
Intangibles $5.978M $6.216M $6.659M
YoY Change -7.15% -6.66%
Long-Term Investments €13.00M
YoY Change 1996.23%
Other Assets $2.886M $2.010M $20.10M
YoY Change -92.07% -90.0% 604.78%
Total Long-Term Assets $10.67M $9.578M $28.25M
YoY Change -77.01% -66.1% 38.52%
TOTAL ASSETS
Total Short-Term Assets $25.80M $27.43M $9.368M
Total Long-Term Assets $10.67M $9.578M $28.25M
Total Assets $36.48M $37.00M $37.62M
YoY Change -31.28% -1.63% -26.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.495M $4.947M $1.211M
YoY Change 28.23% 308.48% 132.62%
Accrued Expenses $5.400M $2.906M $3.712M
YoY Change 73.2% -21.72% -76.1%
Deferred Revenue $5.166M $8.039M $8.039M
YoY Change -35.73% 0.0%
Short-Term Debt $2.404M $15.03M $533.3K
YoY Change -77.22% 2717.51% 752.36%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $18.54M $33.06M $17.04M
YoY Change -25.97% 93.98% -54.32%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $1.134M
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $638.0K $32.72K $48.59K
YoY Change -72.4% -32.66% -96.89%
Total Long-Term Liabilities $638.0K $32.72K $1.183M
YoY Change -93.95% -97.23% -24.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $18.54M $33.06M $17.04M
Total Long-Term Liabilities $638.0K $32.72K $1.183M
Total Liabilities $19.17M $33.09M $18.23M
YoY Change -46.12% 81.57% -53.11%
SHAREHOLDERS EQUITY
Retained Earnings -$85.48M -$96.40M -$91.03M
YoY Change -8.34% 5.9%
Common Stock $52.35K $52.22K $47.03K
YoY Change 11.31% 11.04%
Preferred Stock
YoY Change
Treasury Stock (at cost) $99.75K
YoY Change
Treasury Stock Shares
Shareholders Equity $16.51M $3.085M $3.226M
YoY Change
Total Liabilities & Shareholders Equity $36.48M $37.00M $37.62M
YoY Change -31.28% -1.63% -26.67%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q3
OPERATING ACTIVITIES
Net Income $10.92M -$2.736M -$2.242M
YoY Change -590.98% 22.05% -46.3%
Depreciation, Depletion And Amortization $39.91K $38.30K $49.49K
YoY Change -12.47% -22.62% -88.78%
Cash From Operating Activities $11.14M -$5.464M -$11.18M
YoY Change -1010.57% -51.14% 430.22%
INVESTING ACTIVITIES
Capital Expenditures $20.22K $31.82K $0.00
YoY Change -353.07% -100.0%
Acquisitions
YoY Change
Other Investing Activities -$35.76M -$5.522M -$8.347M
YoY Change 115.61% -33.84% 3447.3%
Cash From Investing Activities -$35.78M -$5.554M -$8.347M
YoY Change 115.83% -33.46% 150836.35%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 35.88M 3.717M 17.83M
YoY Change 109.65% -79.16% 7133704.0%
NET CHANGE
Cash From Operating Activities 11.14M -5.464M -11.18M
Cash From Investing Activities -35.78M -5.554M -8.347M
Cash From Financing Activities 35.88M 3.717M 17.83M
Net Change In Cash 11.24M -7.301M -1.695M
YoY Change -1736.74% 330.8% -19.84%
FREE CASH FLOW
Cash From Operating Activities $11.14M -$5.464M -$11.18M
Capital Expenditures $20.22K $31.82K $0.00
Free Cash Flow $11.12M -$5.496M -$11.18M
YoY Change -1014.89% -50.86% 431.62%

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<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 24px"><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 0.25in; 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 battery energy storage systems and emission control technologies.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; 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, 2023. 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 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; 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> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Following the sale of the REP project to Sosteneo, the Company has modified its BESS (“Battery Energy Storage Systems”) strategy of originating, developing and owning BESS projects, to a strategy of originating, developing and selling BESS projects. Under the new strategy, the Company expects income streams from BESS projects to include the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Sale of projects (Including Sales of Ownership Interests in Project Companies)</span></td> </tr><tr style="vertical-align: top; text-align: justify"> <td> </td><td style="text-align: left"> </td><td style="text-align: justify"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Construction management agreement fees</span></td> </tr><tr style="vertical-align: top; text-align: justify"> <td> </td><td style="text-align: left"> </td><td style="text-align: justify"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Asset management fees</span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">As discussed in the Critical Accounting Estimates section of Management’s Discussion and Analysis of Financial Condition and Results of Operations, the sale of BESS projects falls under the scope of ASC 610-20, and net proceeds from sale of projects are recognized as revenue on the transfer of control to the buyer.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Under the new strategy, project assets and liabilities are not being held as long-term assets of the company, and are expected to be sold within 12 months. 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0.50 pure
CY2023Q2 us-gaap Effective Income Tax Rate Reconciliation Minority Interest Income Expense
EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense
0.50 pure
us-gaap Supplemental Deferred Purchase Price
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29900000 eur
us-gaap Supplemental Deferred Purchase Price
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37400000 usd
us-gaap Gain Loss On Sale Of Other Assets
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12000000 usd
pgtk Deferred Consideration
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15100000 eur
pgtk Deferred Consideration
DeferredConsideration
19000000 usd
pgtk Milestone Payments
MilestonePayments
1750000 eur
pgtk Milestone Payments
MilestonePayments
2200000 usd
us-gaap Management And Service Fees Rate
ManagementAndServiceFeesRate
0.012 pure
CY2023Q3 us-gaap Derivative Fixed Interest Rate
DerivativeFixedInterestRate
0.494 pure
CY2023Q3 us-gaap Grants Receivable
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6700000 eur
CY2023Q3 us-gaap Grants Receivable
GrantsReceivable
8400000 usd
us-gaap Principal Transactions Revenue
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6500000 eur
us-gaap Principal Transactions Revenue
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8300000 usd
us-gaap Legal Fees
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300000 eur
us-gaap Legal Fees
LegalFees
400000 usd
us-gaap Payments For Brokerage Fees
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400000 eur
us-gaap Payments For Brokerage Fees
PaymentsForBrokerageFees
500000 usd
pgtk Consideration Received A
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11258370 gbp
CY2023Q3 us-gaap Foreign Currency Exchange Rate Remeasurement1
ForeignCurrencyExchangeRateRemeasurement1
1.2519 pure
us-gaap Asset Acquisition Consideration Transferred Contingent Consideration
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14094907 usd
us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
116057 usd
us-gaap Affordable Housing Project Investment Write Down Amount
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43642826 usd
CY2023Q3 us-gaap Other Assets Current
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3992999 usd
pgtk Long Term Ap And Accruals
LongTermAPAndAccruals
24830942 usd
pgtk Other Liabilities Noncontrolling Interest
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23406419 usd
CY2023Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
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485479 usd
pgtk Initial Investment In Pgbepc
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2461289 usd
us-gaap Realized Investment Gains Losses
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12119097 usd
CY2023Q4 us-gaap Early Repayment Of Senior Debt
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120000000 eur
CY2023Q4 us-gaap Early Repayment Of Senior Debt
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146000000 usd
CY2023Q3 us-gaap Capital Units
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70000000 eur
CY2023Q3 us-gaap Capital Units
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85000000 usd
CY2023Q3 us-gaap Deposits
Deposits
12200000 eur
pgtk Revenue From Customer Percentage
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0.36 pure
CY2023Q3 us-gaap Deposits
Deposits
14900000 usd
us-gaap Management And Service Fees Base Rate
ManagementAndServiceFeesBaseRate
0.18 pure
CY2023Q3 us-gaap Management Fee Payable
ManagementFeePayable
3750000 eur
CY2023Q3 us-gaap Management Fee Payable
ManagementFeePayable
4600000 usd
us-gaap Payments For Loans
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1640000 eur
us-gaap Payments For Loans
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2000000 usd
CY2023Q3 us-gaap Investment Owned Balance Principal Amount
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9260000 usd
CY2023Q3 us-gaap Investment Owned Balance Principal Amount
InvestmentOwnedBalancePrincipalAmount
7500000 eur
us-gaap Prepayment Fees On Advances Net
PrepaymentFeesOnAdvancesNet
2300000 usd
us-gaap Prepayment Fees On Advances Net
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1900000 eur
CY2023Q3 pgtk Repayment Fee Rate
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0.25 pure
CY2020Q4 pgtk Interest In Joint Venture
InterestInJointVenture
0.70 pure
CY2022Q1 us-gaap Equity Method Investments
EquityMethodInvestments
16000000 usd
CY2022Q3 us-gaap Equity Method Investments
EquityMethodInvestments
13000000 eur
pgtk Equity Voting Rights Percentage
EquityVotingRightsPercentage
0.65 pure
CY2023Q3 pgtk Purchased Capital Percentage
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0.51 pure
CY2023Q3 us-gaap Other Inventory Capitalized Costs
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1960000 eur
CY2023Q3 us-gaap Other Inventory Capitalized Costs
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2070000.00 usd
CY2023Q1 us-gaap Redeemable Noncontrolling Interest Equity Fair Value
RedeemableNoncontrollingInterestEquityFairValue
16140339 usd
CY2023Q1 pgtk Netloss Income Attributables To Noncontrolling Interest Bess
NetlossIncomeAttributablesToNoncontrollingInterestBESS
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CY2023Q3 pgtk Netloss Income Attributable To Noncontrolling Interest Jv
NetlossIncomeAttributableToNoncontrollingInterestJV
-182099 usd
CY2023Q1 pgtk Netloss Income Attributable To Noncontrolling Interest Jv
NetlossIncomeAttributableToNoncontrollingInterestJV
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CY2023Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Less Noncontrolling Interest
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1009784 usd
CY2023Q3 us-gaap Minority Interest In Preferred Unit Holders
MinorityInterestInPreferredUnitHolders
-827685 usd
CY2023Q1 us-gaap Minority Interest In Preferred Unit Holders
MinorityInterestInPreferredUnitHolders
-15663675 usd
CY2023Q3 us-gaap Revenues
Revenues
1164989 usd
CY2022Q3 us-gaap Revenues
Revenues
1195353 usd
us-gaap Revenues
Revenues
2353827 usd
us-gaap Revenues
Revenues
3219229 usd
CY2023Q3 pgtk Service Revenue
ServiceRevenue
1164989 usd
CY2022Q3 pgtk Service Revenue
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496064 usd
CY2023Q3 us-gaap Payments For Construction In Process
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438031 usd
pgtk Service Revenue
ServiceRevenue
2353827 usd
pgtk Service Revenue
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864781 usd
CY2023Q3 us-gaap Contract With Customer Liability Current
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8038674 usd
CY2023Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
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CY2022Q3 pgtk Scrubber Costs Recognized
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-419736 usd
pgtk Scrubber Costs Recognized
ScrubberCostsRecognized
90267 usd
pgtk Scrubber Costs Recognized
ScrubberCostsRecognized
-1042901 usd
CY2023Q3 us-gaap Salaries Wages And Officers Compensation
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142812 usd
CY2022Q3 us-gaap Salaries Wages And Officers Compensation
SalariesWagesAndOfficersCompensation
23940 usd
us-gaap Salaries Wages And Officers Compensation
SalariesWagesAndOfficersCompensation
263861 usd
us-gaap Salaries Wages And Officers Compensation
SalariesWagesAndOfficersCompensation
86319 usd
CY2023Q3 pgtk Amortization Of Intangibles
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236573 usd
CY2022Q3 pgtk Amortization Of Intangibles
AmortizationOfIntangibles
219367 usd
pgtk Amortization Of Intangibles
AmortizationOfIntangibles
489367 usd
pgtk Amortization Of Intangibles
AmortizationOfIntangibles
438734 usd
CY2023Q3 us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
3229 usd
CY2022Q3 us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
49997 usd
us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
29081 usd
us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
132293 usd
CY2023Q3 us-gaap Business Development
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110245 usd
CY2022Q3 us-gaap Business Development
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51232 usd
us-gaap Business Development
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169009 usd
us-gaap Business Development
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150200 usd
CY2023Q3 us-gaap Merchant Marine Operating Differential Subsidy
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669144 usd
CY2022Q3 us-gaap Merchant Marine Operating Differential Subsidy
MerchantMarineOperatingDifferentialSubsidy
290408 usd
us-gaap Merchant Marine Operating Differential Subsidy
MerchantMarineOperatingDifferentialSubsidy
1518715 usd
us-gaap Merchant Marine Operating Differential Subsidy
MerchantMarineOperatingDifferentialSubsidy
432776 usd
us-gaap Payments For Construction In Process
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438031 usd
CY2023Q3 pgtk Cost Of Goods And Service Sold
CostOfGoodsAndServiceSold
1600034 usd
CY2022Q3 pgtk Cost Of Goods And Service Sold
CostOfGoodsAndServiceSold
1054680 usd
pgtk Cost Of Goods And Service Sold
CostOfGoodsAndServiceSold
2817797 usd
pgtk Cost Of Goods And Service Sold
CostOfGoodsAndServiceSold
2283223 usd
CY2023Q3 us-gaap Accounts Payable Current
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4946722 usd
CY2023Q1 us-gaap Accounts Payable Current
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692526 usd
CY2023Q3 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
2711990 usd
CY2023Q1 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
2349083 usd
CY2023Q1 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
127973 usd
CY2023Q3 us-gaap Accrued Payroll Taxes Current
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146342 usd
CY2023Q1 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
219151 usd
CY2023Q3 pgtk Short Term Accounts Payable And Accrued Liabilities
ShortTermAccountsPayableAndAccruedLiabilities
7805054 usd
CY2023Q1 pgtk Short Term Accounts Payable And Accrued Liabilities
ShortTermAccountsPayableAndAccruedLiabilities
3388733 usd
CY2023Q3 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
7805054 usd
CY2023Q1 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
3388733 usd
CY2023Q3 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
3262179 usd
CY2023Q3 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
200000 usd
CY2023Q3 pgtk Net Equity Proceeds Percentage
NetEquityProceedsPercentage
0.08 pure
CY2023Q4 pgtk Repayment Fee Percentage
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0.25 pure
CY2023Q4 pgtk Net Equity Proceeds Percentage
NetEquityProceedsPercentage
0.18 pure
CY2023Q3 pgtk Additional Shortterm Working Capital
AdditionalShorttermWorkingCapital
1050000 eur
CY2023Q3 pgtk Additional Shortterm Working Capital
AdditionalShorttermWorkingCapital
2500000 usd
CY2023Q3 pgtk Total Equivalent
TotalEquivalent
3782000 usd
pgtk Net Funds In Excess
NetFundsInExcess
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pgtk Repayment Fee Percentage
RepaymentFeePercentage
0.25 pure
pgtk Revenue Not From Contract With Customers
RevenueNotFromContractWithCustomers
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CY2023Q3 us-gaap Loans Payable To Bank
LoansPayableToBank
3834315 usd
CY2023Q1 us-gaap Loans Payable To Bank
LoansPayableToBank
1667484 usd
CY2023Q1 us-gaap Long Term Loans Payable
LongTermLoansPayable
791662 usd
CY2023Q3 pgtk Loans Of Projects Under Development
LoansOfProjectsUnderDevelopment
11192035 usd
CY2023Q3 us-gaap Notes And Loans Payable
NotesAndLoansPayable
15026350 usd
CY2023Q1 us-gaap Notes And Loans Payable
NotesAndLoansPayable
2459146 usd
CY2023Q3 pgtk Warranty Recovery
warrantyRecovery
35320 usd
us-gaap Provision For Other Losses
ProvisionForOtherLosses
23500 usd
CY2023Q3 us-gaap Payments To Suppliers
PaymentsToSuppliers
58820 usd
us-gaap Payments To Suppliers
PaymentsToSuppliers
181600 usd
CY2023Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
580530 usd
CY2023Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
865451 usd
CY2023Q3 pgtk Warranty Expenserecoverys
WarrantyExpenserecoverys
-23500 usd
CY2023Q1 pgtk Warranty Expenserecoverys
WarrantyExpenserecoverys
625664 usd
CY2023Q3 pgtk Warrantyinvoiced Costs Recoverys
WarrantyinvoicedCostsRecoverys
187669 usd
CY2023Q1 pgtk Warrantyinvoiced Costs Recoverys
WarrantyinvoicedCostsRecoverys
-340743 usd
CY2023Q3 pgtk Warranty Provision Current
WarrantyProvisionCurrent
416361 usd
CY2023Q1 pgtk Warranty Provision Current
WarrantyProvisionCurrent
580530 usd
us-gaap Revenues
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3219229 usd
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
2283223 usd
us-gaap Gross Profit
GrossProfit
936006 usd
pgtk Revenue Not From Contract With Customers
RevenueNotFromContractWithCustomers
0.29 pure
CY2023Q3 pgtk Revenue From Customer Percentage
RevenueFromCustomerPercentage
0.36 pure
CY2023Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
152140 usd
CY2023Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
213020 usd
CY2023Q3 us-gaap Payments For Commissions
PaymentsForCommissions
14979 usd
CY2022Q3 us-gaap Payments For Commissions
PaymentsForCommissions
37897 usd
us-gaap Payments For Commissions
PaymentsForCommissions
29974 usd
us-gaap Payments For Commissions
PaymentsForCommissions
85962 usd
CY2023Q3 pgtk Consulting Fees
ConsultingFees
2193240 usd
CY2022Q3 pgtk Consulting Fees
ConsultingFees
163500 usd
pgtk Consulting Fees
ConsultingFees
4346930 usd
pgtk Consulting Fees
ConsultingFees
327000 usd
CY2023Q3 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
3954380 usd
CY2022Q1 pgtk Share Based Compensation Arrangement By Share Based Payment Option Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentOptionOutstandingNumber
537500 shares
CY2022Q1 pgtk Share Based Compensation Arrangement By Share Based Payment Award Option Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionOutstandingWeightedAverageExercisePrice
0.56
CY2023 pgtk Weighted Average Remaining Contractual Lifeyears Beginning Balance
WeightedAverageRemainingContractualLifeyearsBeginningBalance
P1Y5M4D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
170125 usd
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
285000 shares
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.66
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
337500 shares
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0.18
CY2023Q1 pgtk Share Based Compensation Arrangement By Share Based Payment Option Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentOptionOutstandingNumber
485000 shares
CY2023Q1 pgtk Share Based Compensation Arrangement By Share Based Payment Award Option Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionOutstandingWeightedAverageExercisePrice
0.89
CY2023 pgtk Weighted Average Remaining Contractual Lifeyears Ending Balance
WeightedAverageRemainingContractualLifeyearsEndingBalance
P1Y4M28D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
84900 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
100000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.6
CY2023Q3 pgtk Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Numbers
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumbers
585000 shares
CY2023Q3 pgtk Share Based Compensation Arrangement By Share Based Payment Award Option Outstanding Weighted Average Exercise Price Vestedand Exercisable
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionOutstandingWeightedAverageExercisePriceVestedandExercisable
0.84
pgtk Weighted Average Remaining Contractual Lifeyears Balance
WeightedAverageRemainingContractualLifeyearsBalance
P1Y5M19D
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
76500000000 usd
CY2022Q3 pgtk Revenue From Customer Percentage
RevenueFromCustomerPercentage
0.59 pure
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
585000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0454 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P3Y6M
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.22 pure
CY2023Q3 us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
17290 usd
CY2022Q3 us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
9194 usd
us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
17290 usd
us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
26912 usd
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
760023 usd
CY2023Q3 us-gaap Intangible Assets Current
IntangibleAssetsCurrent
6215515 usd
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
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CY2023Q3 us-gaap Other Assets
OtherAssets
7139683 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
849209 usd
CY2023Q1 us-gaap Intangible Assets Current
IntangibleAssetsCurrent
6706484 usd
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
350429 usd
CY2023Q1 us-gaap Other Assets
OtherAssets
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CY2023Q3 us-gaap Revenues
Revenues
1164989 usd
CY2023Q3 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
1600034 usd
CY2023Q3 us-gaap Gross Profit
GrossProfit
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CY2023Q3 pgtk Revenue Not From Contract With Customers
RevenueNotFromContractWithCustomers
-0.37 pure
CY2022Q3 us-gaap Revenues
Revenues
1195353 usd
CY2022Q3 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
1054680 usd
CY2022Q3 us-gaap Gross Profit
GrossProfit
140673 usd
CY2022Q3 pgtk Revenue Not From Contract With Customers
RevenueNotFromContractWithCustomers
0.12 pure
us-gaap Revenues
Revenues
2353827 usd
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
2817797 usd
us-gaap Gross Profit
GrossProfit
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pgtk Revenue From Customer Percentage
RevenueFromCustomerPercentage
0.61 pure
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
93436 usd
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
99253 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
217359 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
208990 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
54662 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
47918 usd
CY2023Q3 pgtk Total Future Minimum Lease Payments
TotalFutureMinimumLeasePayments
102580 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
22141 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
80439 usd
us-gaap Investment Company Incentive Allocation To Average Net Assets
InvestmentCompanyIncentiveAllocationToAverageNetAssets
0.70 pure
CY2023 us-gaap Other Tax Expense Benefit
OtherTaxExpenseBenefit
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CY2022 us-gaap Other Tax Expense Benefit
OtherTaxExpenseBenefit
5501101 usd
us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
552121 usd
us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-5501101 usd
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2023Q3 us-gaap Deferred Tax Assets Deferred Gain On Sale Leaseback Transaction
DeferredTaxAssetsDeferredGainOnSaleLeasebackTransaction
3599502 usd
CY2023Q3 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
3599502 usd
pgtk Income Tax Reconciliation Permanent Differences And Other
IncomeTaxReconciliationPermanentDifferencesAndOther
81264 usd
pgtk Income Tax Reconciliation Permanent Differences And Other
IncomeTaxReconciliationPermanentDifferencesAndOther
40258 usd
us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-183590 usd
us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
1907 usd
us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-13620 usd
us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
1113066 usd
us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
0.50 pure
CY2023Q3 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
19700000 usd
us-gaap Income Tax Reconciliation Nondeductible Expense Impairment Losses
IncomeTaxReconciliationNondeductibleExpenseImpairmentLosses
8000000 usd
CY2023Q3 us-gaap Capital Units
CapitalUnits
70000000 eur
CY2023Q3 us-gaap Capital Units
CapitalUnits
85000000 usd
CY2023Q3 us-gaap Deposits
Deposits
12200000 eur
CY2023Q3 us-gaap Deposits
Deposits
14900000 usd
us-gaap Legal Fees
LegalFees
300000 eur
us-gaap Legal Fees
LegalFees
400000 usd
us-gaap Management And Service Fees Base Rate
ManagementAndServiceFeesBaseRate
0.18 pure
CY2023Q3 us-gaap Management Fee Payable
ManagementFeePayable
3750000 eur
CY2023Q3 us-gaap Management Fee Payable
ManagementFeePayable
4600000 usd
us-gaap Payments For Loans
PaymentsForLoans
1640000 eur
us-gaap Payments For Loans
PaymentsForLoans
2000000 usd
CY2023Q3 pgtk Other Receivable For Doubtful Account
OtherReceivableForDoubtfulAccount
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CY2023Q3 pgtk Assets Held For Sale Note4
AssetsHeldForSaleNote4
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CY2023Q3 pgtk Project Under Development
ProjectUnderDevelopment
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CY2023Q1 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
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CY2023Q3 us-gaap Other Long Term Debt Noncurrent
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CY2022Q3 pgtk Warranty And Related Expenserecovery
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us-gaap Gain Or Loss On Sale Of Stock In Subsidiary
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us-gaap Earnings Per Share Diluted
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CY2023Q2 us-gaap Stock Issued During Period Value Employee Benefit Plan
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pgtk Bad Debt Expense Recovery
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pgtk Financing Interest
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us-gaap Finance Lease Interest Expense
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us-gaap Finance Lease Interest Expense
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pgtk Share Of Noncontrolling Interest
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pgtk Other Adjustments Relating To Disposal Of Subsidiary
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us-gaap Gain Loss On Sale Of Property Plant Equipment
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pgtk Proceeds From Disposal Of Subsidiaries
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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us-gaap Proceeds From Minority Shareholders
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us-gaap Repayments Of Notes Payable
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us-gaap Repayments Of Construction Loans Payable
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us-gaap Proceeds From Issuance Of Other Long Term Debt
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CY2023Q1 pgtk Proceeds From Customer Refundable Fees
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CY2023Q3 us-gaap Cash
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CY2023Q3 us-gaap Accrued Liabilities And Other Liabilities
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CY2023Q3 us-gaap Recovery Of Direct Costs
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CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
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CY2023 pgtk Weighted Average Remaining Contractual Lifeyears Forfeited
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CY2023 pgtk Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Forfeited
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueForfeited
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
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CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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CY2022Q3 us-gaap Deferred Tax Assets Deferred Gain On Sale Leaseback Transaction
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CY2022Q3 us-gaap Deferred Tax Assets Other
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pgtk Income Tax Provision
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pgtk Income Tax Provision
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us-gaap Current Income Tax Expense Benefit
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us-gaap Current Income Tax Expense Benefit
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us-gaap Deferred Income Tax Expense Benefit
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us-gaap Deferred Income Tax Expense Benefit
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pgtk Income Tax Provision
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pgtk Income Tax Provision
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dei Amendment Flag
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dei Current Fiscal Year End Date
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dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
dei Entity Central Index Key
EntityCentralIndexKey
0001553404

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