2024 Q1 Form 10-Q Financial Statement

#000121390024015366 Filed on February 20, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2022 Q4
Revenue $85.96M $3.640M
YoY Change 2261.59% 37.76%
Cost Of Revenue $61.22M $3.018M
YoY Change 1928.87% 127.16%
Gross Profit $24.74M $622.5K
YoY Change 3874.46% -52.62%
Gross Profit Margin 28.78% 17.1%
Selling, General & Admin $11.82M $3.370M
YoY Change 250.8% -11.94%
% of Gross Profit 47.79% 541.41%
Research & Development $112.3K
YoY Change
% of Gross Profit 0.45%
Depreciation & Amortization $39.91K $45.60K
YoY Change -12.47% -89.85%
% of Gross Profit 0.16% 7.33%
Operating Expenses $12.32M $2.666M
YoY Change 362.25%
Operating Profit $12.42M -$2.043M
YoY Change -707.76% -255.52%
Interest Expense -$1.641M -$181.7K
YoY Change 802.87% 8553.81%
% of Operating Profit -13.21%
Other Income/Expense, Net -$366.3K -$187.5K
YoY Change 95.37% -673.6%
Pretax Income $12.05M -$2.231M
YoY Change -640.25% -25.18%
Income Tax $1.166M
% Of Pretax Income 9.67%
Net Earnings $10.92M -$2.224M
YoY Change -590.98% -25.4%
Net Earnings / Revenue 12.7% -61.1%
Basic Earnings Per Share $0.21 -$0.05
Diluted Earnings Per Share $0.21 -$0.05
COMMON SHARES
Basic Shares Outstanding 52.35M shares 52.22M shares 47.03M shares
Diluted Shares Outstanding 52.46M shares 47.34M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $13.06M $2.602M
YoY Change 402.13% -76.1%
Cash & Equivalents $13.06M $2.500M
Short-Term Investments $0.00 $101.4K
Other Short-Term Assets $6.528M $1.161M
YoY Change 462.31% 52.15%
Inventory
Prepaid Expenses $881.3K $1.098M
Receivables $520.2K $2.375M
Other Receivables $5.255M $510.2K
Total Short-Term Assets $25.80M $6.648M
YoY Change 288.18% -71.16%
LONG-TERM ASSETS
Property, Plant & Equipment $748.1K $945.7K
YoY Change -20.9% -52.71%
Goodwill
YoY Change
Intangibles $5.978M $6.439M
YoY Change -7.15%
Long-Term Investments
YoY Change
Other Assets $2.886M $36.37M
YoY Change -92.07% 979.45%
Total Long-Term Assets $10.67M $46.44M
YoY Change -77.01% 132.78%
TOTAL ASSETS
Total Short-Term Assets $25.80M $6.648M
Total Long-Term Assets $10.67M $46.44M
Total Assets $36.48M $53.09M
YoY Change -31.28% 23.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.495M $1.166M
YoY Change 28.23% 62.77%
Accrued Expenses $5.400M $3.118M
YoY Change 73.2% -73.79%
Deferred Revenue $5.166M $8.039M
YoY Change -35.73%
Short-Term Debt $2.404M $10.55M
YoY Change -77.22% 17469.58%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $18.54M $25.04M
YoY Change -25.97% -22.97%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $8.237M
YoY Change -100.0%
Other Long-Term Liabilities $638.0K $2.312M
YoY Change -72.4% 132.92%
Total Long-Term Liabilities $638.0K $10.55M
YoY Change -93.95% 962.9%
TOTAL LIABILITIES
Total Short-Term Liabilities $18.54M $25.04M
Total Long-Term Liabilities $638.0K $10.55M
Total Liabilities $19.17M $35.59M
YoY Change -46.12% 6.23%
SHAREHOLDERS EQUITY
Retained Earnings -$85.48M -$93.26M
YoY Change -8.34%
Common Stock $52.35K $47.03K
YoY Change 11.31%
Preferred Stock
YoY Change
Treasury Stock (at cost) $99.75K
YoY Change
Treasury Stock Shares
Shareholders Equity $16.51M $1.336M
YoY Change
Total Liabilities & Shareholders Equity $36.48M $53.09M
YoY Change -31.28% 23.45%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2022 Q4
OPERATING ACTIVITIES
Net Income $10.92M -$2.224M
YoY Change -590.98% -25.4%
Depreciation, Depletion And Amortization $39.91K $45.60K
YoY Change -12.47% -89.85%
Cash From Operating Activities $11.14M -$1.224M
YoY Change -1010.57% -79.66%
INVESTING ACTIVITIES
Capital Expenditures $20.22K -$7.990K
YoY Change -353.07% -60.05%
Acquisitions 7.127M gbps
YoY Change
Other Investing Activities -$35.76M -$16.58M
YoY Change 115.61%
Cash From Investing Activities -$35.78M -$16.58M
YoY Change 115.83% 82783.45%
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 17.11M
YoY Change 109.65% -17256.31%
NET CHANGE
Cash From Operating Activities 11.14M -1.224M
Cash From Investing Activities -35.78M -16.58M
Cash From Financing Activities 35.88M 17.11M
Net Change In Cash 11.24M -686.9K
YoY Change -1736.74% -88.8%
FREE CASH FLOW
Cash From Operating Activities $11.14M -$1.224M
Capital Expenditures $20.22K -$7.990K
Free Cash Flow $11.12M -$1.216M
YoY Change -1014.89% -79.72%

Facts In Submission

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<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1.</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sale of projects (Including Sales of Ownership Interests in Project Companies)</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Construction management agreement fees</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Asset management fees</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 606, and net proceeds from sale of projects are recognized as revenue on the transfer of control to the buyer.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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. As a result, balances in consolidated BESS project entities are included in the appropriate balance sheet line items, instead of assets held for sale. Project costs incurred prior to sale are capitalized as projects under development within current assets, and charged to cost of sales on sale. Project financing liabilities are capitalized as separately identified loans in liabilities of projects under development within current liabilities, and recorded as consideration where forgiven on sale.</span></p>
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
1994-03-10
pgtk Company Entities Description
CompanyEntitiesDescription
Wholly-owned subsidiary of PGTIL
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us-gaap Depreciation
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us-gaap Adjustment For Amortization
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us-gaap Adjustment For Amortization
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660090 usd
CY2023Q4 us-gaap Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
236573 usd
CY2022Q4 us-gaap Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
219367 usd
us-gaap Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
725939 usd
us-gaap Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
658101 usd
CY2023Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
629 usd
CY2022Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
639 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1934 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1989 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
237213 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
949081 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
946291 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
946291 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
946291 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
1953244 usd
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
5978412 usd
CY2023Q2 us-gaap Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
12100000 usd
pgtk Deferred Consideration
DeferredConsideration
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
pgtk Share Of Minority Investor Fee Percentage
ShareOfMinorityInvestorFeePercentage
0.494 pure
CY2023Q4 us-gaap Grants Receivable
GrantsReceivable
6700000 eur
CY2023Q4 us-gaap Grants Receivable
GrantsReceivable
8400000 usd
pgtk Mile Stone Value
MileStoneValue
800000 eur
pgtk Mile Stone Value
MileStoneValue
900000 usd
CY2023Q4 pgtk Backlog Revenue Gain On Disposal Amount
BacklogRevenueGainOnDisposalAmount
1500000 eur
CY2023Q4 pgtk Backlog Revenue Gain On Disposal Amount
BacklogRevenueGainOnDisposalAmount
1900000 usd
us-gaap Legal Fees
LegalFees
300000 eur
us-gaap Legal Fees
LegalFees
400000 usd
us-gaap Payments For Brokerage Fees
PaymentsForBrokerageFees
400000 eur
us-gaap Payments For Brokerage Fees
PaymentsForBrokerageFees
500000 usd
CY2023 us-gaap Asset Acquisition Consideration Transferred Contingent Consideration
AssetAcquisitionConsiderationTransferredContingentConsideration
11258370 gbp
CY2023Q2 us-gaap Foreign Currency Exchange Rate Remeasurement1
ForeignCurrencyExchangeRateRemeasurement1
1.2519 pure
CY2023 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
14094907 usd
CY2023 us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
116057 usd
CY2023 pgtk Business Combination Consideration Transferred Projects Under Development
BusinessCombinationConsiderationTransferredProjectsUnderDevelopment
43642826 usd
CY2023 us-gaap Business Combination Consideration Transferred Other1
BusinessCombinationConsiderationTransferredOther1
3992999 usd
CY2023 pgtk Business Combination Consideration Transferred Long Term Ap And Accruals
BusinessCombinationConsiderationTransferredLongTermAPAndAccruals
24830942 usd
CY2023Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Less Noncontrolling Interest
BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedLessNoncontrollingInterest
23406419 usd
CY2023Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
485479 usd
CY2023 pgtk Business Combination Consideration Transferred Initial Investment
BusinessCombinationConsiderationTransferredInitialInvestment
2461289 usd
CY2023 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
12119097 usd
CY2023Q4 us-gaap Deposits
Deposits
12200000 eur
CY2023Q4 us-gaap Deposits
Deposits
14900000 usd
pgtk Construction Management Fee
ConstructionManagementFee
3750000 eur
pgtk Construction Management Fee
ConstructionManagementFee
4600000 usd
us-gaap Repayments Of Construction Loans Payable
RepaymentsOfConstructionLoansPayable
1640000 eur
us-gaap Repayments Of Construction Loans Payable
RepaymentsOfConstructionLoansPayable
2000000 usd
CY2023Q4 us-gaap Investment Owned Balance Principal Amount
InvestmentOwnedBalancePrincipalAmount
9260000 usd
CY2023Q4 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
PrepaymentFeesOnAdvancesNet
1900000 eur
CY2023Q4 pgtk Repayment Fee Rate
RepaymentFeeRate
0.25 pure
us-gaap Management And Service Fees Base Rate
ManagementAndServiceFeesBaseRate
0.18 pure
CY2023Q4 us-gaap Principal Amount Outstanding Of Loans Held In Portfolio
PrincipalAmountOutstandingOfLoansHeldInPortfolio
54900000 eur
CY2023Q4 us-gaap Principal Amount Outstanding Of Loans Held In Portfolio
PrincipalAmountOutstandingOfLoansHeldInPortfolio
69900000 usd
CY2023Q4 pgtk Sale Of Project Outstanding Cash Balance
SaleOfProjectOutstandingCashBalance
7400000 eur
CY2023Q4 pgtk Sale Of Project Outstanding Cash Balance
SaleOfProjectOutstandingCashBalance
9400000 usd
CY2023Q4 us-gaap Debt Instrument Repaid Principal
DebtInstrumentRepaidPrincipal
9600000 eur
us-gaap Loss Contingency Accrual Payments
LossContingencyAccrualPayments
3000000 eur
pgtk Contingent Revenue
ContingentRevenue
16500000 eur
pgtk Contingent Revenue
ContingentRevenue
21000000 usd
pgtk Cash Payment On Closing
CashPaymentOnClosing
12215318 gbp
CY2023Q4 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
0.012743 pure
pgtk Cash Payment On Closing
CashPaymentOnClosing
15565980 usd
CY2023Q4 us-gaap Other Cash Equivalents At Carrying Value
OtherCashEquivalentsAtCarryingValue
7390806 gbp
CY2023Q4 us-gaap Other Cash Equivalents At Carrying Value
OtherCashEquivalentsAtCarryingValue
9418104 usd
us-gaap Closed Block Operations Other Revenue
ClosedBlockOperationsOtherRevenue
59699682 gbp
us-gaap Closed Block Operations Other Revenue
ClosedBlockOperationsOtherRevenue
75704254 usd
CY2023Q4 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
4500000 shares
CY2023Q4 pgtk Commitment Being Cash
CommitmentBeingCash
3664000 usd
CY2023Q4 pgtk Commitment Being Cash
CommitmentBeingCash
3000000 eur
CY2023Q4 pgtk Commitment Payable
CommitmentPayable
3053000 usd
CY2023Q4 pgtk Commitment Payable
CommitmentPayable
2500000 eur
CY2023Q4 pgtk Payable For Commitment
PayableForCommitment
611000 usd
CY2023Q4 pgtk Payable For Commitment
PayableForCommitment
500000 eur
CY2020Q4 us-gaap Minority Interest In Joint Ventures
MinorityInterestInJointVentures
70 usd
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
pgtk Number Of Directors
NumberOfDirectors
3 pure
CY2023Q3 pgtk Purchased Capital Percentage
PurchasedCapitalPercentage
0.51 pure
CY2023Q3 us-gaap Other Inventory Capitalized Costs
OtherInventoryCapitalizedCosts
1960000 eur
CY2023Q3 us-gaap Other Inventory Capitalized Costs
OtherInventoryCapitalizedCosts
2070000.00 usd
CY2023Q1 us-gaap Nonredeemable Noncontrolling Interest
NonredeemableNoncontrollingInterest
16140339 usd
CY2023Q1 pgtk Netloss Income Attributables To Noncontrolling Interest Bess
NetlossIncomeAttributablesToNoncontrollingInterestBESS
354987 usd
CY2023Q4 pgtk Netloss Income Attributable To Noncontrolling Interest Jv
NetlossIncomeAttributableToNoncontrollingInterestJV
216162 usd
CY2023Q1 pgtk Netloss Income Attributable To Noncontrolling Interest Jv
NetlossIncomeAttributableToNoncontrollingInterestJV
121677 usd
CY2023Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Less Noncontrolling Interest
BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedLessNoncontrollingInterest
-1009784 usd
CY2023Q4 us-gaap Noncontrolling Interest In Variable Interest Entity
NoncontrollingInterestInVariableInterestEntity
793622 usd
CY2023Q1 us-gaap Noncontrolling Interest In Variable Interest Entity
NoncontrollingInterestInVariableInterestEntity
15663675 usd
CY2023Q4 us-gaap Other Minority Interests
OtherMinorityInterests
-392903 usd
CY2023Q4 us-gaap Revenues
Revenues
85961632 usd
CY2022Q4 us-gaap Revenues
Revenues
3639992 usd
us-gaap Revenues
Revenues
88315459 usd
us-gaap Revenues
Revenues
6859221 usd
CY2023Q1 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
8038674 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
8000000 usd
CY2023Q4 pgtk Scrubber Cost Recognized
ScrubberCostRecognized
160632 usd
CY2022Q4 pgtk Scrubber Cost Recognized
ScrubberCostRecognized
1670574 usd
pgtk Scrubber Cost Recognized
ScrubberCostRecognized
70364 usd
pgtk Scrubber Cost Recognized
ScrubberCostRecognized
2713475 usd
CY2023Q4 us-gaap Noncash Project Abandonment Costs
NoncashProjectAbandonmentCosts
59249778 usd
us-gaap Noncash Project Abandonment Costs
NoncashProjectAbandonmentCosts
59249778 usd
CY2023Q4 us-gaap Salaries Wages And Officers Compensation
SalariesWagesAndOfficersCompensation
142619 usd
CY2022Q4 us-gaap Salaries Wages And Officers Compensation
SalariesWagesAndOfficersCompensation
235799 usd
us-gaap Salaries Wages And Officers Compensation
SalariesWagesAndOfficersCompensation
406480 usd
us-gaap Salaries Wages And Officers Compensation
SalariesWagesAndOfficersCompensation
322119 usd
CY2023Q4 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
236573 usd
CY2022Q4 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
219367 usd
us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
725939 usd
us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
658101 usd
CY2023Q4 us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
10522 usd
CY2022Q4 us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
73531 usd
us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
39604 usd
us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
205824 usd
CY2023Q4 us-gaap Business Development
BusinessDevelopment
51681 usd
CY2022Q4 us-gaap Business Development
BusinessDevelopment
104545 usd
us-gaap Business Development
BusinessDevelopment
220690 usd
us-gaap Business Development
BusinessDevelopment
246490 usd
CY2023Q4 pgtk Specific Services Provided To Marine Scrubber Systems
SpecificServicesProvidedToMarineScrubberSystems
904624 usd
CY2022Q4 pgtk Specific Services Provided To Marine Scrubber Systems
SpecificServicesProvidedToMarineScrubberSystems
713688 usd
pgtk Specific Services Provided To Marine Scrubber Systems
SpecificServicesProvidedToMarineScrubberSystems
2423340 usd
pgtk Specific Services Provided To Marine Scrubber Systems
SpecificServicesProvidedToMarineScrubberSystems
1154718 usd
CY2023Q4 pgtk Bess Construction Management Services
BESSConstructionManagementServices
464680 usd
pgtk Bess Construction Management Services
BESSConstructionManagementServices
902710 usd
CY2023Q4 us-gaap Cost Of Revenue
CostOfRevenue
61221109 usd
CY2022Q4 us-gaap Cost Of Revenue
CostOfRevenue
3017504 usd
us-gaap Cost Of Revenue
CostOfRevenue
64038906 usd
us-gaap Cost Of Revenue
CostOfRevenue
5300727 usd
CY2023Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
1495093 usd
CY2023Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
692526 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
5400073 usd
CY2023Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2349083 usd
CY2023Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
127973 usd
CY2023Q4 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
400820 usd
CY2023Q1 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
219151 usd
CY2023Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
7295986 usd
CY2023Q1 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
3388733 usd
CY2023Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
7295986 usd
CY2023Q1 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
3388733 usd
CY2023Q3 pgtk Net Equity Proceeds Percentage
NetEquityProceedsPercentage
0.08 pure
CY2023Q4 us-gaap Derivative Fixed Interest Rate
DerivativeFixedInterestRate
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 Number Of Tranches
NumberOfTranches
two
CY2023Q4 us-gaap Loans Payable To Bank
LoansPayableToBank
2403812 usd
CY2023Q1 us-gaap Loans Payable To Bank
LoansPayableToBank
1667484 usd
CY2023Q1 us-gaap Long Term Loans Payable
LongTermLoansPayable
791662 usd
CY2023Q4 us-gaap Loans Payable Current
LoansPayableCurrent
2403812 usd
CY2023Q1 us-gaap Loans Payable Current
LoansPayableCurrent
2459146 usd
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
18778 usd
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
201340 usd
pgtk Product Warranty Expense Incurred
ProductWarrantyExpenseIncurred
167437 usd
CY2023Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
580530 usd
CY2023Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
865451 usd
CY2023Q4 us-gaap Product Warranty Expense
ProductWarrantyExpense
18778 usd
CY2023Q1 us-gaap Product Warranty Expense
ProductWarrantyExpense
625664 usd
CY2023Q4 pgtk Standardand Extended Product Warranty Accrual Warrantyinvoicedcostsrecovery
StandardandExtendedProductWarrantyAccrualWarrantyinvoicedcostsrecovery
167437 usd
CY2023Q1 pgtk Standardand Extended Product Warranty Accrual Warrantyinvoicedcostsrecovery
StandardandExtendedProductWarrantyAccrualWarrantyinvoicedcostsrecovery
-340743 usd
CY2023Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
394315 usd
CY2023Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
580530 usd
CY2023Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1774782 usd
CY2023Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
213020 usd
CY2023Q4 us-gaap Payments For Commissions
PaymentsForCommissions
8172 usd
CY2022Q4 us-gaap Payments For Commissions
PaymentsForCommissions
26218 usd
us-gaap Payments For Commissions
PaymentsForCommissions
38147 usd
us-gaap Payments For Commissions
PaymentsForCommissions
112180 usd
CY2023Q4 pgtk Consulting Fees
ConsultingFees
4526794 usd
CY2022Q4 pgtk Consulting Fees
ConsultingFees
168500 usd
pgtk Consulting Fees
ConsultingFees
8673724 usd
pgtk Consulting Fees
ConsultingFees
495500 usd
CY2023Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
8039358 usd
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
537500 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.56
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
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 In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
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 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
485000 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.89
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
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
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
585000 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
0.84
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P1Y2M19D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
108400 usd
CY2023Q4 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
CY2023Q4 us-gaap Adjustments To Additional Paid In Capital Mark To Market
AdjustmentsToAdditionalPaidInCapitalMarkToMarket
14282 usd
CY2022Q4 us-gaap Adjustments To Additional Paid In Capital Mark To Market
AdjustmentsToAdditionalPaidInCapitalMarkToMarket
162566 usd
us-gaap Payments To Employees
PaymentsToEmployees
31572 usd
us-gaap Payments To Employees
PaymentsToEmployees
189478 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
748095 usd
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
5978412 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1062314 usd
CY2023Q4 pgtk Projects Under Development
ProjectsUnderDevelopment
5111024 usd
CY2023Q4 us-gaap Other Assets
OtherAssets
12899845 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
849209 usd
CY2023Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
6706484 usd
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
350429 usd
CY2023Q1 us-gaap Other Assets
OtherAssets
7906122 usd
CY2023Q4 us-gaap Revenues
Revenues
85961632 usd
CY2023Q4 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
61221109 usd
CY2023Q4 us-gaap Gross Profit
GrossProfit
24740523 usd
CY2023Q4 pgtk Revenue Not From Contract With Customers
RevenueNotFromContractWithCustomers
0.29 pure
CY2022Q4 us-gaap Revenues
Revenues
3639992 usd
CY2022Q4 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
3017504 usd
CY2022Q4 us-gaap Gross Profit
GrossProfit
622488 usd
CY2022Q4 pgtk Revenue Not From Contract With Customers
RevenueNotFromContractWithCustomers
0.17 pure
us-gaap Revenues
Revenues
88315459 usd
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
64038906 usd
us-gaap Gross Profit
GrossProfit
24276553 usd
pgtk Revenue Not From Contract With Customers
RevenueNotFromContractWithCustomers
0.27 pure
us-gaap Revenues
Revenues
6859221 usd
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
5300727 usd
us-gaap Gross Profit
GrossProfit
1558494 usd
pgtk Revenue Not From Contract With Customers
RevenueNotFromContractWithCustomers
0.23 pure
CY2023Q4 pgtk Revenue From Customer Percentage
RevenueFromCustomerPercentage
0.89 pure
CY2022Q4 pgtk Revenue From Customer Percentage
RevenueFromCustomerPercentage
0.35 pure
pgtk Revenue From Customer Percentage
RevenueFromCustomerPercentage
0.86 pure
pgtk Revenue From Customer Percentage
RevenueFromCustomerPercentage
0.29 pure
CY2023Q4 us-gaap Operating Lease Expense
OperatingLeaseExpense
728860 usd
CY2022Q4 us-gaap Operating Lease Expense
OperatingLeaseExpense
231789 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
946219 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
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CY2008Q4 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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