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

Summary of Significant Accounting Policies (Tables)

v3.22.4
Summary of Significant Accounting Policies (Tables)
6 Months Ended 9 Months Ended 12 Months Ended
Jun. 30, 2022
Sep. 30, 2022
Dec. 31, 2021
Summary of Significant Accounting Policies (Tables) [Line Items]      
Schedule of basic and diluted net income (loss) per common share  
 

Three months ended
September 30,

 

Nine months ended
September 30,

   

2022

 

2021

 

2022

 

2021

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

$

(6,083,670

)

 

$

(1,298,122

)

 

$

(12,944,628

)

 

$

(3,892,715

)

Less: deemed dividend for Earnout
Shares

 

 

(4,957,366

)

 

 

 

 

 

(4,957,366

)

 

 

 

Net loss attributable to common stockholders

 

$

(11,041,036

)

 

$

(1,298,122

)

 

$

(17,901,994

)

 

$

(3,892,715

)

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares used to compute basic and diluted EPS

 

 

16,535,661

 

 

 

9,637,962

 

 

 

11,983,183

 

 

 

9,637,962

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted earnings (loss) per
share

 

$

(0.67

)

 

$

(0.13

)

 

$

(1.49

)

 

$

(0.40

)

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Anti-dilutive securities excluded from shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock options

 

 

3,934,165

 

 

 

3,359,932

 

 

 

3,934,165

 

 

 

3,359,932

 

Warrants

 

 

18,722,425

 

 

 

 

 

 

18,722,425

 

 

 

 

Earnout shares

 

 

7,499,993

 

 

 

 

 

 

7,499,993

 

 

 

 

Debentures

 

 

2,922,425

 

 

 

 

 

 

2,922,425

 

 

 

 

Total

 

 

33,079,008

 

 

 

3,359,932

 

 

 

33,079,008

 

 

 

3,359,932

 

 

December 31,

   

2021

 

2020

Numerator

 

 

 

 

 

 

 

 

Net loss

 

$

(15,127,629

)

 

$

(7,194,038

)

Denominator

 

 

 

 

 

 

 

 

Weighted average shares used to compute basic EPS

 

 

678,406

 

 

 

678,400

 

Dilutive effect of stock-based awards

 

 

 

 

 

 

Weighted average shares used to compute diluted EPS

 

 

678,406

 

 

 

678,400

 

   

 

 

 

 

 

 

 

Loss per share

 

 

 

 

 

 

 

 

Basic

 

$

(22.30

)

 

$

(10.60

)

Diluted

 

$

(22.30

)

 

$

(10.60

)

Schedule of inventories  
 

September 30,
2022

 

December 31,
2021

Raw material and supplies

 

$

956,387

 

$

Work in progress

 

 

4,602,609

 

 

Finished goods

 

 

 

 

Total inventories

 

$

5,558,996

 

$

 
Schedule of minimum future rental income    

Year Ended December 31, 2022

 

1,513,334

Thereafter

 

Total

 

1,513,334

Schedule of expected revenue from our remaining performance obligations  
 

Expected Revenue from Unfulfilled Performance Obligations by Period

($ in millions)

 

Total

 

Remainder of
2022

 

2023

 

2024

 

2025

Unfulfilled performance obligations:

 

 

   

 

   

 

   

 

   

 

 

Triumph Subsea Construction
Limited

 

$

54.2

 

$

 

$

27.1

 

$

13.6

 

$

13.5

All other performance obligations

 

 

11.5

 

 

2.4

 

 

4.0

 

 

5.1

 

 

Total unfulfilled performance obligations

 

$

65.7

 

$

2.4

 

$

31.1

 

$

18.7

 

$

13.5

 

Expected revenue from unfulfilled performance obligations by period

($ in millions)

 

Total

 

2022

 

2023

 

2024

 

2025

Unfulfilled performance obligations:

 

 

   

 

   

 

   

 

   

 

 

Triumph Subsea Construction Limited

 

$

54.2

 

$

7.7

 

$

19.4

 

$

13.6

 

$

13.5

All other performance obligations

 

 

12.3

 

 

10.5

 

 

1.8

 

 

 

 

Total unfulfilled performance obligations

 

$

66.5

 

$

18.2

 

$

21.2

 

$

13.6

 

$

13.5

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

)