EQUITY INVESTMENTS IN UNCONSOLIDATED AFFILIATES (Tables)

6 Months Ended

Jun. 30, 2022

Equity Method Investments and Joint Ventures [Abstract]

The following tables summarize the carrying amounts, including changes therein, of our equity method investments:


	Three Months Ended June 30, 2022
	Sayona		Sayona Quebec		Atlantic Lithium		Total
Balance at beginning of period	$	16,945,836	$	26,193,877	$	14,583,345	$	57,723,058
Additional investments	1,029,617		6,979,080		—		8,008,697
Loss from equity method investments	(857,847)		(125,759)		(171,773)		(1,155,379)
Share of loss from equity method investments included in other comprehensive loss	—		—		(342,767)		(342,767)
Balance at end of period	$	17,117,606	$	33,047,198	$	14,068,805	$	64,233,609


	Three Months Ended June 30, 2021
	Sayona		Sayona Quebec		Total
Balance at beginning of period	$	9,316,394	$	—	$	9,316,394
Additional investments	1,974,425		5,067,593		7,042,018
Loss from equity method investments	(64,626)		—		(64,626)
Share of loss from equity method investments included in other comprehensive loss	(31,288)		—		(31,288)
Balance at end of period	$	11,194,905	$	5,067,593	$	16,262,498


	Six Months Ended June 30, 2022
	Sayona		Sayona Quebec		Atlantic Lithium		Total
Balance at beginning of period	$	18,256,488	$	25,215,851	$	15,400,371	$	58,872,710
Additional investments	1,075,921		8,978,983		—		10,054,904
Loss from equity method investments	(2,279,318)		(1,192,396)		(1,073,168)		(4,544,882)
Share of income (loss) from equity method investments included in other comprehensive loss	64,515		44,760		(258,398)		(149,123)
Balance at end of period	$	17,117,606	$	33,047,198	$	14,068,805	$	64,233,609


	Six Months Ended June 30, 2021
	Sayona		Sayona Quebec		Total
Balance at beginning of period	$	—	$	—	$	—
Additional investments	11,290,819		5,067,593		16,358,412
Loss from equity method investments	(64,626)		—		(64,626)
Share of loss from equity method investments included in other comprehensive loss	(31,288)		—		(31,288)
Balance at end of period	$	11,194,905	$	5,067,593	$	16,262,498


	As of June 30, 2022
	Sayona		Sayona Quebec	Atlantic Lithium
Fair value of equity investments where market values from publicly traded entities are readily available	$	174,859,526	Not publicly traded	$	28,246,608

The following tables present summarized financial information included in our share of income (loss) from equity method investments noted above for our significant equity investments. The balances below were compiled from information provided to us by each investee and are presented in accordance with U.S. GAAP:


	Three Months Ended
	June 30, 2022						June 30, 2021
	Sayona		Sayona Quebec		Atlantic Lithium		Sayona
Revenue	$	—	$	—	$	—	$	—
Net loss from operations	(5,224,405)		(503,037)		(1,733,332)		(324,754)
Other comprehensive loss, net of tax	—		—		(3,458,798)		(157,224)
Comprehensive loss	(5,224,405)		(503,037)		(5,192,130)		(481,978)


	Six Months Ended
	June 30, 2022						June 30, 2021
	Sayona		Sayona Quebec		Atlantic Lithium		Sayona
Revenue	$	—	$	—	$	—	$	—
Net loss from operations	(13,812,789)		(4,769,583)		(10,829,140)		(324,754)
Other comprehensive income (loss), net of tax	390,967		179,041		(2,607,447)		(157,224)
Comprehensive loss	(13,421,822)		(4,590,542)		(13,436,587)		(481,978)