General form of registration statement for all companies including face-amount certificate companies

Summary of Significant Accounting Policies (Tables)

v3.23.1
Summary of Significant Accounting Policies (Tables)
6 Months Ended 12 Months Ended
Jun. 30, 2022
Dec. 31, 2022
Dec. 31, 2021
Summary of Significant Accounting Policies (Tables) [Line Items]      
Schedule of basic and diluted net income (loss) per common share  

 

Year Ended
December 31,

   

2022

 

2021

Numerator:

 

 

 

 

 

 

 

 

Net loss

 

$

(28,260,571

)

 

$

(15,127,629

)

Less: deemed dividend for Earnout Shares

 

 

(4,957,366

)

 

 

 

Net loss attributable to common stockholders

 

$

(33,217,937

)

 

$

(15,127,629

)

Denominator:

 

 

 

 

 

 

 

 

Weighted average shares used to compute basic and diluted EPS

 

 

18,982,139

 

 

 

9,637,962

 

   

 

 

 

 

 

 

 

Basic and diluted earnings (loss) per share

 

$

(1.75

)

 

$

(1.57

)

   

 

 

 

 

 

 

 

Anti-dilutive securities excluded from shares outstanding:

 

 

 

 

 

 

 

 

Stock options

 

 

3,506,184

 

 

 

3,949,158

 

Restricted and performance stock units

 

 

3,134,677

 

 

 

 

Warrants

 

 

18,722,425

 

 

 

 

Earnout shares

 

 

7,499,993

 

 

 

 

Debentures

 

 

2,922,425

 

 

 

 

Total

 

 

35,785,704

 

 

 

3,949,158

 

 
Schedule of inventories  

 

December 31,
2022

 

December 31,
2021

Raw material and supplies

 

$

1,499,030

 

$

Work in progress

 

 

5,167,882

 

 

Finished goods

 

 

 

 

Total inventories

 

$

6,666,912

 

$

 
Schedule of other current assets  

 

December 31,
2022

 

December 31,
2021

Prepaid material purchases

 

$

2,454,298

 

$

96,095

Other prepayments

 

 

199,323

 

 

110,326

Other

 

 

56,410

 

 

3,804

Total other current assets

 

$

2,710,031

 

$

210,225

 
Schedule of accrued liabilities  

 

December 31,
2022

 

December 31,
2021

Accrued compensation

 

$

1,501,736

 

$

349,255

Accrued professional fees

 

 

794,021

 

 

Accrued insurance

 

 

590,936

 

 

61,752

Accrued interest

 

 

 

 

703,544

Advance customer payments

 

 

 

 

373,791

Other accrued expenses

 

 

256,284

 

 

88,091

Total accrued expenses

 

$

3,142,977

 

$

1,576,433

 
CleanTech Acquisition Corp [Member]      
Summary of Significant Accounting Policies (Tables) [Line Items]      
Schedule of common stock reflected in the balance sheet are reconciled

Gross proceeds

 

$

172,500,000

 

Less:

 

 

 

 

Proceeds allocated to Public Warrants

 

 

(6,037,500

)

Proceeds allocated to Public Rights

 

 

(3,934,879

)

Issuance costs allocated to common stock

 

 

(3,672,335

)

Plus:

 

 

 

 

Accretion of carrying value to redemption value

 

 

15,369,714

 

Common stock subject to possible redemption as of December 31, 2021

 

$

174,225,000

 

Plus:

 

 

 

 

Accretion of carrying value to redemption value

 

 

145,884

 

Common stock subject to possible redemption as of June 30, 2022

 

$

174,370,884

 

 

Gross proceeds

 

$

172,500,000

 

Less:

 

 

 

 

Proceeds allocated to Public Warrants

 

 

(6,037,500

)

Proceeds allocated to Public Rights

 

 

(3,934,879

)

Issuance costs allocated to common stock

 

 

(3,672,335

)

Plus:

 

 

 

 

Accretion of carrying value to redemption value

 

 

15,369,714

 

Common stock subject to possible redemption

 

$

174,225,000

 

Schedule of basic and diluted net income (loss) per common share
 

Three Months
Ended
June 30,
2022

 

Three Months
Ended
June 30,
2021

 

Six Months
Ended
June 30,
2022

 

Six Months
Ended
June 30,
2021

Basic and diluted net income (loss) per share:

 

 

 

 

 

 

   

 

   

 

 

Numerator:

 

 

 

 

 

 

   

 

   

 

 

Net income (loss)

 

$

(795,831

)

 

$

 

$

1,155,839

 

$

Denominator:

 

 

 

 

 

 

   

 

   

 

 

Basic weighted average shares outstanding

 

 

21,562,500

 

 

 

3,750,000

 

 

21,562,500

 

 

3,750,000

Basic net income (loss) per share

 

$

(0.04

)

 

$

0.00

 

$

0.05

 

$

0.00

 
 

For the year
ended
December 31,
2021

 

For the
period from
June 18,
2020
(inception)
through
December 31,
2020

Basic and diluted net loss per share:

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

Net loss

 

$

(595,442

)

 

$

(1,000

)

Denominator:

 

 

 

 

 

 

 

 

Basic weighted average shares outstanding

 

 

11,781,678

 

 

 

3,750,000

 

Basic net loss per share of Common Stock

 

$

(0.05

)

 

$

(0.00

)