$SMTK
SmartKem, Inc.

2021 Q1 Form 10-Q Financial Statement

#000155837021007419 Filed on May 17, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $20.77K
YoY Change
Cost Of Revenue $12.35K
YoY Change
Gross Profit $8.422K
YoY Change
Gross Profit Margin 40.55%
Selling, General & Admin $3.983M $526.1K
YoY Change 657.06%
% of Gross Profit 6246.87%
Research & Development $4.013M $1.112M
YoY Change 260.99%
% of Gross Profit 13199.39%
Depreciation & Amortization $48.00K $50.16K
YoY Change -4.3%
% of Gross Profit 595.52%
Operating Expenses $9.310M $1.638M
YoY Change 468.46%
Operating Profit -$8.877M -$1.437M
YoY Change 517.55%
Interest Expense $19.00K $6.835M
YoY Change -99.72%
% of Operating Profit
Other Income/Expense, Net -$489.0K -$18.59M
YoY Change -97.37%
Pretax Income -$9.366M -$20.02M
YoY Change -53.23%
Income Tax
% Of Pretax Income
Net Earnings -$9.366M -$20.02M
YoY Change -53.23%
Net Earnings / Revenue -96408.21%
Basic Earnings Per Share -$0.51
Diluted Earnings Per Share -$0.51
COMMON SHARES
Basic Shares Outstanding 18.35M
Diluted Shares Outstanding 18.35M 116.1K

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $19.23M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $21.70M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $640.7K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $9.014K
YoY Change
Total Long-Term Assets $844.2K
YoY Change
TOTAL ASSETS
Total Short-Term Assets $21.70M
Total Long-Term Assets $844.2K
Total Assets $22.54M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $374.4K
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.713M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.713M
Total Long-Term Liabilities
Total Liabilities $1.716M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$67.30M
YoY Change
Common Stock $2.544K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $20.83M $4.392M
YoY Change
Total Liabilities & Shareholders Equity $22.54M
YoY Change

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income -$9.366M -$20.02M
YoY Change -53.23%
Depreciation, Depletion And Amortization $48.00K $50.16K
YoY Change -4.3%
Cash From Operating Activities -$3.741M $1.617M
YoY Change -331.3%
INVESTING ACTIVITIES
Capital Expenditures $14.99K
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$14.99K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 22.20M 4.279M
YoY Change 418.91%
NET CHANGE
Cash From Operating Activities -3.741M 1.617M
Cash From Investing Activities -14.99K
Cash From Financing Activities 22.20M 4.279M
Net Change In Cash 18.47M 2.647M
YoY Change 597.88%
FREE CASH FLOW
Cash From Operating Activities -$3.741M $1.617M
Capital Expenditures $14.99K
Free Cash Flow $1.602M
YoY Change

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Management’s Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The preparation of condensed consolidated financial statements in conformity with generally accepted accounting principles in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, including disclosure of contingent assets and liabilities, at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. The most significant estimates in the Company’s condensed consolidated financial statements relates to the valuation of common share, fair value of share options, fair value of embedded conversion features in the convertible notes, and the valuation allowance of deferred tax assets. These estimates and assumptions are based on current facts, historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of expenses that are not readily apparent from other sources. Due to the uncertainty of factors surrounding the estimates or judgments used in the preparation of the financial statements, actual results may materially vary from these estimates. </p>
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CY2021Q1 us-gaap Concentration Risk Credit Risk
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;text-align:justify;margin:0pt 0pt 12pt 0pt;">Concentrations of Credit Risk</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Financial instruments that potentially subject the Company to significant concentration of credit risk consist primarily of cash and cash equivalents and accounts receivable. Periodically, the Company maintains deposits in financial institutions in excess of government insured limits. Management believes that the Company is not exposed to significant credit risk as the Company’s deposits are held at financial institutions that management believes to be of high credit quality and the Company has not experienced any losses in these deposits.</p>
CY2021Q1 us-gaap Property Plant And Equipment Salvage Value Percentage
PropertyPlantAndEquipmentSalvageValuePercentage
0.25
CY2021Q1 us-gaap Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
P15Y
CY2021Q1 us-gaap Derivatives Embedded Derivatives
DerivativesEmbeddedDerivatives
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Derivative Asset for Embedded Conversion Features</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The Company does not use derivative instruments to hedge exposures to cash flow, market, or foreign currency risks.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The Company evaluates convertible notes to determine if those contracts or embedded components of those contracts qualify as derivatives to be accounted for separately. In circumstances where the embedded conversion option in a convertible instrument is required to be bifurcated and there are also other embedded derivative instruments in the convertible instrument that are required to be bifurcated, the bifurcated derivative instruments are accounted for as a single, compound derivative instrument. The result of this accounting treatment is that the fair value of the embedded derivative is recorded as a liability and marked-to-market each balance sheet date, with the change in fair value recorded in the statements of operations as other income or expense. Upon conversion or exercise of a derivative instrument, the instrument is marked to fair value at the conversion date and then that fair value is reclassified to equity.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The fair value of the embedded conversion features are estimated using a Monte Carlo simulation model, in which possible outcomes and their values are simulated repeatedly and randomly. Under the Monte Carlo method the Company estimated the fair value of the convertible notes conversion feature at the time of issuance and subsequent remeasurement dates, utilizing the with-and without method, where the value of the derivative feature is the difference in values between a note simulated with the embedded conversion feature and the value of the same note simulated without the embedded conversion feature. Estimating fair values of embedded conversion features requires the development of significant and subjective estimates that may, and are likely to, change over the duration of the instrument with related changes in internal and external market factors.</p>
CY2021Q1 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
432523
CY2020Q1 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
191877
CY2021Q1 cik0001817760 Research And Development Tax Credit
ResearchAndDevelopmentTaxCredit
1238049
CY2020Q4 cik0001817760 Research And Development Tax Credit
ResearchAndDevelopmentTaxCredit
981568
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
CY2021Q1 us-gaap Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
0
CY2020Q4 us-gaap Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
0
CY2021Q1 us-gaap Deferred Offering Costs
DeferredOfferingCosts
0
CY2020Q4 us-gaap Deferred Offering Costs
DeferredOfferingCosts
0
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
2454324
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4700095
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
116084
CY2021Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2021Q1 us-gaap Prepaid Rent
PrepaidRent
114071
CY2020Q4 us-gaap Prepaid Rent
PrepaidRent
65254
CY2021Q1 cik0001817760 Prepaid Utilities
PrepaidUtilities
30545
CY2020Q4 cik0001817760 Prepaid Utilities
PrepaidUtilities
30271
CY2021Q1 us-gaap Prepaid Insurance
PrepaidInsurance
841596
CY2020Q4 us-gaap Prepaid Insurance
PrepaidInsurance
40414
CY2021Q1 cik0001817760 Prepaid Administrative Expenses
PrepaidAdministrativeExpenses
35355
CY2020Q4 cik0001817760 Prepaid Administrative Expenses
PrepaidAdministrativeExpenses
68901
CY2021Q1 us-gaap Prepaid Taxes
PrepaidTaxes
92858
CY2020Q4 us-gaap Prepaid Taxes
PrepaidTaxes
54206
CY2021Q1 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
110212
CY2021Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1224637
CY2020Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
259046
CY2021Q1 cik0001817760 Prepaid Insurance Noncurrent
PrepaidInsuranceNoncurrent
252656
CY2020Q4 cik0001817760 Prepaid Insurance Noncurrent
PrepaidInsuranceNoncurrent
0
CY2021Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1604936
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1590563
CY2021Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
964223
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
908238
CY2021Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
640713
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
682325
CY2020Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
860633
CY2020Q1 us-gaap Sublease Income
SubleaseIncome
0
CY2021Q1 us-gaap Sublease Income
SubleaseIncome
0
CY2021Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
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CY2020Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
226850
CY2021Q1 cik0001817760 Accrued Liabilities Current Transaction Cost
AccruedLiabilitiesCurrentTransactionCost
204907
CY2021Q1 cik0001817760 Accrued Liabilities Current Lab Refurbishment
AccruedLiabilitiesCurrentLabRefurbishment
133552
CY2020Q4 cik0001817760 Accrued Liabilities Current Lab Refurbishment
AccruedLiabilitiesCurrentLabRefurbishment
132356
CY2021Q1 cik0001817760 Accrued Technical Costs Current
AccruedTechnicalCostsCurrent
55844
CY2020Q4 cik0001817760 Accrued Technical Costs Current
AccruedTechnicalCostsCurrent
44755
CY2021Q1 cik0001817760 Accrued Rent And Utilities Current
AccruedRentAndUtilitiesCurrent
13673
CY2020Q4 cik0001817760 Accrued Rent And Utilities Current
AccruedRentAndUtilitiesCurrent
67165
CY2021Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
219280
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
250437
CY2021Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
34221
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
5879
CY2021Q1 cik0001817760 Accrued Credit Card Liabilities Current
AccruedCreditCardLiabilitiesCurrent
9522
CY2020Q4 cik0001817760 Accrued Credit Card Liabilities Current
AccruedCreditCardLiabilitiesCurrent
6308
CY2021Q1 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
482143
CY2020Q4 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
126883
CY2021Q1 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
1527533
CY2021Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
47071
CY2020Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
44175
CY2021Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
13336
CY2020Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
10522
CY2021Q1 us-gaap Variable Lease Cost
VariableLeaseCost
22621
CY2020Q1 us-gaap Variable Lease Cost
VariableLeaseCost
42811
CY2021Q1 us-gaap Lease Cost
LeaseCost
83028
CY2020Q1 us-gaap Lease Cost
LeaseCost
97508
CY2021Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
194513
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
236123
CY2021Q1 cik0001817760 Operating Lease Assets Including Lease Assets Held For Sale
OperatingLeaseAssetsIncludingLeaseAssetsHeldForSale
194513
CY2020Q4 cik0001817760 Operating Lease Assets Including Lease Assets Held For Sale
OperatingLeaseAssetsIncludingLeaseAssetsHeldForSale
236123
CY2021Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
185374
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
217313
CY2021Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
3561
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
20475
CY2021Q1 cik0001817760 Operating And Finance Lease Liabilities
OperatingAndFinanceLeaseLiabilities
188935
CY2020Q4 cik0001817760 Operating And Finance Lease Liabilities
OperatingAndFinanceLeaseLiabilities
237788
CY2021Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
0
CY2020Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
0
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
54611
CY2020Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
41924
CY2020Q1 cik0001817760 Loss On Conversion Of Convertible Notes Payable
LossOnConversionOfConvertibleNotesPayable
5469825
CY2020Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
6767178
CY2020Q1 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.135
CY2021Q1 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
0
CY2021Q1 cik0001817760 Debt Instrument Increase Accrued Interest Expense Based On Stated Interest Rate
DebtInstrumentIncreaseAccruedInterestExpenseBasedOnStatedInterestRate
0
CY2020Q1 cik0001817760 Debt Instrument Increase Accrued Interest Expense Based On Stated Interest Rate
DebtInstrumentIncreaseAccruedInterestExpenseBasedOnStatedInterestRate
42784
CY2021Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
0
CY2020Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
24810
CY2021Q1 cik0001817760 Loss On Conversion Of Convertible Notes Payable
LossOnConversionOfConvertibleNotesPayable
9343697
CY2021Q1 cik0001817760 Gain Loss On Conversion Of Accrued Interest On Convertible Notes Payable
GainLossOnConversionOfAccruedInterestOnConvertibleNotesPayable
1046085
CY2021Q1 us-gaap Embedded Derivative Gain Loss On Embedded Derivative Net
EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet
4919957
CY2021Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y1M6D
CY2021Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0630
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
207973
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
21937
CY2021Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
229910
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
40975
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
188935
CY2020Q1 cik0001817760 Cumulative Investment Proceeds From Common Stock Threshold Limit
CumulativeInvestmentProceedsFromCommonStockThresholdLimit
4600000
CY2020Q1 us-gaap Share Price
SharePrice
1.807011
CY2020Q1 us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
11795998
CY2020Q1 us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
8159977
CY2020Q1 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
1.45
CY2020Q1 cik0001817760 Debt Conversion Converted Instrument Interest Accrued Amount
DebtConversionConvertedInstrumentInterestAccruedAmount
1062725
CY2020Q1 cik0001817760 Debt Conversion Converted Instrument Interest Accrued Shares Issued
DebtConversionConvertedInstrumentInterestAccruedSharesIssued
735148
CY2020Q1 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
1.45
CY2020Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
6282381
CY2020Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSettlements
4919957
CY2021Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.56499
CY2021Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1404813
CY2021Q1 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
0
CY2021Q1 us-gaap Derivative Assets
DerivativeAssets
0
CY2021Q1 cik0001817760 Common Stock Number Of Votes Per Share
CommonStockNumberOfVotesPerShare
1
CY2021Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2021Q1 us-gaap Preferred Stock Capital Shares Reserved For Future Issuance
PreferredStockCapitalSharesReservedForFutureIssuance
10000000
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.006
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.012
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2019Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
1810749
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.06143
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y8M12D
CY2019Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
3.46867
CY2021Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.01466
CY2021Q1 cik0001817760 Share Based Compensation Arrangement By Share Based Payment Award Options Nonvested Options Cancelled Number Of Shares
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonvestedOptionsCancelledNumberOfShares
-405936
CY2021Q1 cik0001817760 Share Based Compensation Arrangements By Share Based Payment Award Options Cancellation In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsCancellationInPeriodWeightedAverageExercisePrice
0.06452
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1546562
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
1546562
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.56499
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y11M23D
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
1.22733
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.23
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
402586
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6019517
CY2021Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
1172043
CY2021Q1 us-gaap Compensation Expense Excluding Cost Of Good And Service Sold
CompensationExpenseExcludingCostOfGoodAndServiceSold
3727440
CY2020Q1 us-gaap Compensation Expense Excluding Cost Of Good And Service Sold
CompensationExpenseExcludingCostOfGoodAndServiceSold
290170
CY2021Q1 cik0001817760 Rent Expense
RentExpense
13245
CY2020Q1 cik0001817760 Rent Expense
RentExpense
17308
CY2021Q1 us-gaap Direct Communications And Utilities Costs
DirectCommunicationsAndUtilitiesCosts
650
CY2020Q1 us-gaap Direct Communications And Utilities Costs
DirectCommunicationsAndUtilitiesCosts
367
CY2021Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
21930
CY2020Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
23313
CY2021Q1 us-gaap Professional Fees
ProfessionalFees
149568
CY2020Q1 us-gaap Professional Fees
ProfessionalFees
183097
CY2021Q1 us-gaap Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
69992
CY2020Q1 us-gaap Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
11856
CY2021Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
3982825
CY2020Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
526111
CY2021Q1 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
31474
CY2020Q1 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
25887
CY2021Q1 cik0001817760 Defined Contribution Plan Due To Pension Fund
DefinedContributionPlanDueToPensionFund
0
CY2020Q4 cik0001817760 Defined Contribution Plan Due To Pension Fund
DefinedContributionPlanDueToPensionFund
0

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