XML 23 R6.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash Flows From Operating Activities    
Net loss $ (92,813,653) $ (45,685,172)
Adjustments to reconcile net loss to cash flows used in operating activities    
Depreciation expense 12,199,148 11,085,230
Amortization of note discounts 5,160,242 10,570,974
Impairment expense 1,748,448  
Interest paid in kind 2,091,990 4,066,691
(Gain) loss on extinguishment of debt (390,400) 4,282,220
Change in fair value of warrant liability 48,075,943 (26,733,116)
Stock-based compensation expense 5,582,634 4,523,773
Changes in operating assets and liabilities:    
Accounts receivable (1,626,759) 989,280
Prepaid expenses and other assets (1,429,753) (4,627,992)
Accounts payable and accrued expenses 1,113,976 29,264,412
Due to affiliates 95,399 (9,644,241)
Other liabilities (569,844) 3,542,670
Net cash used in operating activities (20,762,629) (18,365,271)
Cash Flows From Investing Activities    
Additions to project development costs and property and equipment (70,734,055) (48,614,331)
Proceeds from business combination 31,034,781
Net cash used in investing activities (70,734,055) (17,579,550)
Cash Flows From Financing Activities    
Proceeds from notes payable 37,004,153 106,976,651
Repayments of notes payable (39,941,576) (62,593,562)
Payment of financing costs (1,569,779) (3,227,898)
Payment of Series B dividends (193,333)
Proceeds from sale of common stock under ATM 3,099,602  
Proceeds from sale of Series B preferred stock and warrants 15,200,000
Proceeds from equity raises, net of offering costs 31,746,996 26,228,499
Proceeds from exercise of warrants 23,485,200
Net cash provided by financing activities 68,831,263 67,383,690
Net (decrease) increase in cash and restricted cash (22,665,421) 31,438,869
Cash and restricted cash, beginning of period 40,053,461 8,614,592
Cash and restricted cash, end of period 17,388,040 40,053,461
Cash 10,282,983 7,145,661
Restricted Cash 7,105,057 32,907,800
Total cash and restricted cash 17,388,040 40,053,461
Supplemental disclosure of cash flow information    
Cash paid during the year for interest 3,068,627 5,962,918
Cash paid for income taxes
Non-cash investing and financing activities    
Project development cost acquired through accounts payable and accrued expenses, net 5,929,913 (1,297,215)
Settlement of warrant liability 53,518,943
Non-cash contribution from PFHOF in shared services agreement 3,699,000
Accrued dividends 504,242
ATM proceeds receivable 374,377  
Conversion of the preferred equity loan to common equity 58,439,625
Shares of common stock issued for accounts payable 23,426,161
Shares of common stock issued in exchange of debt 54,518,376
Conversion of GPAQ Sponsor Loan into convertible PIPE debt 500,000
Deferred financing costs in accounts payable and accrued expenses, net   610,810
Contingent beneficial conversion feature on PIPE Notes 14,166,339
Initial value of warrants accounted for as liabilities   45,845,116
Reclassify amounts from capitalized development costs to property and equipment $ 34,938,554 $ 27,373,715