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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:    
Net loss for the year $ (20,523,342) $ (3,121,042)
Adjustments to reconcile net loss to net cash flows used in operating activities:    
Depreciation of property and equipment 559,101 22,508
Amortization of intangible assets 1,184,831 0
Fair value gain of warrant liability (22,743,057) 0
Stock-based compensation expense 7,708,877 869,481
Benefit for current and deferred income taxes (922,510) 0
Net (gains) losses on disposal/write-offs of property, plant and equipment and intangible assets 8,692 0
Provision for credit losses 13,375 0
Net periodic cost of defined benefit obligation 5,354 2,008
Changes in operating assets and liabilities, exclusive of net assets acquired:    
Decrease/(increase) in accounts receivable 940,062 (104,620)
Decrease/(increase) in due from related parties 67,781 (67,781)
Decrease/(increase) in contract assets (1,312,798) (33,994)
Decrease/(increase) in inventories (1,595,099) (75,499)
Decrease/(increase) in prepaid expenses and other current assets (4,960,827) (275,100)
Decrease/(increase) in other non-current assets (197,643) 0
(Decrease)/increase in trade payables 2,958,683 573,572
(Decrease)/increase in due to related parties (1,114,659) (128,765)
(Decrease)/increase in deferred income from grants (563,185) 81,021
(Decrease)/increase in contract liabilities 36,754 129,033
(Decrease)/increase in other current liabilities 4,878,531 696,330
(Decrease)/Increase in income tax payable 9,773 7,780
(Decrease)/Increase in other long-term liabilities (275,694) 0
Net cash used in operating activities (35,837,000) (1,425,068)
Cash flows from investing activities:    
Proceeds from sale of property and equipment 6,970 0
Purchases of property and equipment (3,920,470) (122,508)
Purchases of intangible assets (17,747) 0
Advances for the acquisition of property and equipment (2,200,158) 0
Acquisition of subsidiaries, net of cash acquired (19,425,378) 0
Net cash used in investing activities (25,556,783) (122,508)
Cash flows from financing activities:    
Proceeds of issuance of preferred stock 0 1,430,005
Issuance of common stock and paid-in capital from warrants exercise 262,177 0
Proceeds from exercise of stock options 0 21,756
Business Combination and PIPE financing, net of issuance costs paid 141,120,851 0
Repurchase of common stock - cancellation of shares 0 (69,431)
State loan proceeds 118,274 0
Repayments of debt 0 (500,000)
Net cash provided by financing activities 141,501,302 882,330
Net increase/(decrease) in cash and cash equivalents 80,107,519 (665,246)
Effect of exchange rate changes on cash and cash equivalent (858,823) (18,035)
Cash and cash equivalents, beginning of year 515,734 1,199,015
Cash and cash equivalents, end of year 79,764,430 515,734
Cash activities    
Interest paid 12,433 0
Income taxes paid 957,943 0
Income tax refunds received 0 0
Non-cash investing and financing activities:    
Common stock issued as partial consideration of SerEnergy and FES acquisition 37,923,348 0
Stock-based compensation $ 7,708,877 $ 869,480