XML 30 R6.htm IDEA: XBRL DOCUMENT v3.22.4
Condensed Consolidated Statements of Commitment to Issue Class A Common Stock and Stockholders’ Equity (Deficit) (Unaudited) - USD ($)
$ in Thousands
Commitment to Issue Class A
Common Stock
Class A
Common Stock
Previously Reported
Class A
Common Stock
Restatement Adjustment
Class A
Common Stock
Class A
Ordinary Stock
Previously Reported
Class A
Ordinary Stock
Restatement Adjustment
Class A
Ordinary Stock
Class B
Common Stock
Previously Reported
Class B
Common Stock
Restatement Adjustment
Class B
Common Stock
Convertible Preferred Stock
Redeemable Preference
Previously Reported
Convertible Preferred Stock
Redeemable Preference
Restatement Adjustment
Convertible Preferred Stock
Redeemable Preference
Class B
Common Stock
Previously Reported
Class B
Common Stock
Restatement Adjustment
Class B
Common Stock
Additional Paid-in Capital
Previously Reported
Additional Paid-in Capital
Restatement Adjustment
Additional Paid-in Capital
Accumulated Other Comprehensive (Loss)
Previously Reported
Accumulated Other Comprehensive (Loss)
Restatement Adjustment
Accumulated Other Comprehensive (Loss)
Accumulated Deficit
Previously Reported
Accumulated Deficit
Restatement Adjustment
Accumulated Deficit
Previously Reported
Restatement Adjustment
Total
Balance at Dec. 31, 2019   $ 7 $ 7 $ 8 $ 8 $ 724,823 $ (724,823) $ 924,149 $ (924,149) $ 158,704 $ 1,648,957 $ 1,807,661 $ (3,284) $ (3,284) $ (2,244,054) $ (2,244,054) $ (2,088,634) $ 1,648,972 $ (439,662)
Balance (in Shares) at Dec. 31, 2019 [1]   72,269,976 72,269,976 40,879,124 (40,879,124)   84,780,000 84,780,000 470,588,235 (470,588,235)   600,000,000 (600,000,000)                          
Conversion of Class B Common Stock into Class A Common Stock (see Note 13)       $ 2         $ (2)                        
Conversion of Class B Common Stock into Class A Common Stock (see Note 13) (in Shares) [1]       20,779,412           (20,779,412)                                    
Stock-based compensation                             9,505             9,505
Exercise of stock options                             115             115
Exercise of stock options (in Shares) [1]       54,259                                                
Issuance of warrants                           490             490
Purchase of common stock                           (11)             (11)
Purchase of common stock (in Shares) [1]       (4,051)                                                
Foreign currency translation adjustment                                 (2,690)         (2,690)
Net loss                                     (147,085)     (147,085)
Balance at Dec. 31, 2020       $ 9         $ 6             1,817,760     (5,974)     (2,391,139)     (579,338)
Balance (in Shares) at Dec. 31, 2020 [1]       93,099,596         64,000,588                                
Conversion of The 9 Conditional Obligation                                 2,863             2,863
Conversion of The 9 Conditional Obligation (in Shares) [1]       423,053                                                
Conversion of related party notes payable into Class A Common Stock (see Note 9)       $ 2                           294,794             294,796
Conversion of related party notes payable into Class A Common Stock (see Note 9) (in Shares) [1]       22,454,776                                                
Conversion of notes payable into class A common stock       $ 1                           98,374             98,375
Conversion of notes payable into class A common stock (in Shares) [1]       7,688,153                                                
Issuance of Class A Common Stock in the Business Combination, net of transaction costs (see Note 3)       $ 3                           170,111             170,114
Issuance of Class A Common Stock in the Business Combination, net of transaction costs (see Note 3) (in Shares) [1]       27,798,411                                                
Conversion of assumed PSAC convertible and promissory notes payable into Class A Common Stock (see Note 9)                                 790             790
Conversion of assumed PSAC convertible and promissory notes payable into Class A Common Stock (see Note 9) (in Shares) [1]       80,000                                                
Conversion of liabilities into Class A Common Stock in the Business Combination (see Note 3)       $ 2                           285,335             285,337
Conversion of liabilities into Class A Common Stock in the Business Combination (see Note 3) (in Shares) [1]       20,666,825                                                
Conversion of liabilities into the commitment to issue Class A Common Stock in the Business Combination (see Note 3)                                 52,338             52,338
Legacy FF Ordinary Stock exchanged in the Business Combination for a commitment to issue Class A and Class B Common Stock       $ (12)           $ (6)                 18            
Legacy FF Ordinary Stock exchanged in the Business Combination for a commitment to issue Class A and Class B Common Stock (in Shares) [1]       (117,839,510)           (64,000,588)                                    
Issuance of Class A Common Stock in the PIPE Financing, net of transaction costs (see Note 3)       $ 8                           692,397             692,405
Issuance of Class A Common Stock in the PIPE Financing, net of transaction costs (see Note 3) (in Shares) [1]       76,140,000                                                
Settlement of lawsuit with issuance of vested stock options (see Note 12)                                 8,459             8,459
Settlement of accrued rent with issuance of vested stock options                                 951             951
Vesting of restricted stock award for employee bonus                                 14,620             14,620
Stock-based compensation                                 8,521             8,521
Exercise of stock options                                 10,492             10,492
Exercise of stock options (in Shares) [1]       4,326,920                                                
Settlement of receivables through receipt of Class A Common Stock                                 (105)             (105)
Settlement of receivables through receipt of Class A Common Stock (in Shares) [1]       (43,096)                                                
Issuance of warrants                                 17,596             17,596
Foreign currency translation adjustment                                     (487)         (487)
Net loss                                         (432,206)     (432,206)
Balance at Sep. 30, 2021       $ 13                           3,475,314     (6,461)     (2,823,345)     645,521
Balance (in Shares) at Sep. 30, 2021 [1]       134,795,128                                              
Balance at Dec. 31, 2020       $ 9         $ 6             1,817,760     (5,974)     (2,391,139)     (579,338)
Balance (in Shares) at Dec. 31, 2020 [1]       93,099,596         64,000,588                                
Conversion of The 9 Conditional Obligation                                 2,863             2,863
Conversion of The 9 Conditional Obligation (in Shares) [1]       423,053                                                
Conversion of related party notes payable into Class A Common Stock (see Note 9)       $ 2                           294,794             294,796
Conversion of related party notes payable into Class A Common Stock (see Note 9) (in Shares) [1]       22,454,776                                                
Conversion of notes payable into class A common stock       $ 1                           98,374             98,375
Conversion of notes payable into class A common stock (in Shares) [1]       7,688,153                                                
Issuance of Class A Common Stock in the Business Combination, net of transaction costs (see Note 3)       $ 3                           170,111             170,114
Issuance of Class A Common Stock in the Business Combination, net of transaction costs (see Note 3) (in Shares) [1]       27,798,411                                                
Conversion of assumed PSAC convertible and promissory notes payable into Class A Common Stock (see Note 9)                                 790             790
Conversion of assumed PSAC convertible and promissory notes payable into Class A Common Stock (see Note 9) (in Shares) [1]       80,000                                                
Conversion of liabilities into Class A Common Stock in the Business Combination (see Note 3)       $ 3                           311,795             311,798
Conversion of liabilities into Class A Common Stock in the Business Combination (see Note 3) (in Shares) [1]       22,586,392                                                
Conversion of liabilities into the commitment to issue Class A Common Stock in the Business Combination (see Note 3)                                 25,877             25,877
Legacy FF Ordinary Stock exchanged in the Business Combination for a commitment to issue Class A and Class B Common Stock       $ (9)           $ (6)                 15            
Legacy FF Ordinary Stock exchanged in the Business Combination for a commitment to issue Class A and Class B Common Stock (in Shares) [1]       (87,273,528)           (64,000,588)                                    
Issuance of Class A Common Stock in the PIPE Financing, net of transaction costs (see Note 3)       $ 8                           692,397             692,405
Issuance of Class A Common Stock in the PIPE Financing, net of transaction costs (see Note 3) (in Shares) [1]       76,140,000                                                
Settlement of lawsuit with issuance of vested stock options (see Note 12)                                 8,459             8,459
Settlement of accrued rent with issuance of vested stock options                                 951             951
Vesting of restricted stock award for employee bonus                                 18,617             18,617
Vesting of restricted stock award for employee bonus (in Shares) [1]       1,350,970                                                
Stock-based compensation                                 11,345             11,345
Exercise of stock options                                 10,587             $ 10,587
Exercise of stock options (in Shares)       4,388,596 [1]                                               1,035,399
Settlement of receivables through receipt of Class A Common Stock                                 (105)             $ (105)
Settlement of receivables through receipt of Class A Common Stock (in Shares) [1]       (43,096)                                                
Issuance of warrants                                 17,596             17,596
Foreign currency translation adjustment                                       (971)         (971)
Net loss                                         (516,505)     (516,505)
Balance at Dec. 31, 2021     $ 17                           3,482,226     (6,945)     (2,907,644) 567,654   $ 567,654
Balance (in Shares) at Dec. 31, 2021     168,693,323 [1]           [1]                                   1,358,459,707
Balance at Jun. 30, 2021       $ 10           $ 6                 1,973,314     (6,650)     (2,519,439)     $ (552,759)
Balance (in Shares) at Jun. 30, 2021 [1]       107,659,654           64,000,588                                    
Conversion of related party notes payable into Class A Common Stock (see Note 9)       $ 1                           160,436             160,437
Conversion of related party notes payable into Class A Common Stock (see Note 9) (in Shares) [1]       11,566,196                                                
Conversion of notes payable into class A common stock       $ 1                           98,374             98,375
Conversion of notes payable into class A common stock (in Shares) [1]       7,688,153                                                
Issuance of Class A Common Stock in the Business Combination, net of transaction costs (see Note 3)       $ 3                           170,111             170,114
Issuance of Class A Common Stock in the Business Combination, net of transaction costs (see Note 3) (in Shares) [1]       27,798,411                                                
Conversion of assumed PSAC convertible and promissory notes payable into Class A Common Stock (see Note 9)                                 790             790
Conversion of assumed PSAC convertible and promissory notes payable into Class A Common Stock (see Note 9) (in Shares) [1]       80,000                                                
Conversion of liabilities into Class A Common Stock in the Business Combination (see Note 3)       $ 2                           285,335             285,337
Conversion of liabilities into Class A Common Stock in the Business Combination (see Note 3) (in Shares) [1]       20,666,825                                                
Conversion of liabilities into the commitment to issue Class A Common Stock in the Business Combination (see Note 3)                                 52,338             52,338
Legacy FF Ordinary Stock exchanged in the Business Combination for a commitment to issue Class A and Class B Common Stock       $ (12)           $ (6)                 18            
Legacy FF Ordinary Stock exchanged in the Business Combination for a commitment to issue Class A and Class B Common Stock (in Shares) [1]       (117,839,510)           (64,000,588)                                    
Issuance of Class A Common Stock in the PIPE Financing, net of transaction costs (see Note 3)       $ 8                           692,397             692,405
Issuance of Class A Common Stock in the PIPE Financing, net of transaction costs (see Note 3) (in Shares) [1]       76,140,000                                                
Settlement of lawsuit with issuance of vested stock options (see Note 12)                                 8,459             8,459
Settlement of accrued rent with issuance of vested stock options                                 951             951
Vesting of restricted stock award for employee bonus                                 14,620             14,620
Stock-based compensation                                 5,053             5,053
Exercise of stock options                                 2,740             2,740
Exercise of stock options (in Shares) [1]       1,078,495                                                
Settlement of receivables through receipt of Class A Common Stock                                 (105)             (105)
Settlement of receivables through receipt of Class A Common Stock (in Shares) [1]       (43,096)                                                
Issuance of warrants                                 10,483             10,483
Foreign currency translation adjustment                                     189         189
Net loss                                         303,906     (303,906)
Balance at Sep. 30, 2021       $ 13                           3,475,314     (6,461)     (2,823,345)     645,521
Balance (in Shares) at Sep. 30, 2021 [1]       134,795,128                                              
Balance at Dec. 31, 2021     $ 17                           3,482,226     (6,945)     (2,907,644) $ 567,654   $ 567,654
Balance (in Shares) at Dec. 31, 2021     168,693,323 [1]           [1]                                   1,358,459,707
Issuance of shares pursuant to the commitment to issue Class A and Class B Common Stock     $ 7           $ 6                 (13)            
Issuance of shares pursuant to the commitment to issue Class A and Class B Common Stock (in Shares)       89,152,131           64,000,588                                    
Reclassification of obligation to issue registered shares of Class A Common Stock upon adoption of ASU 2020-06 32,900                                       (20,265)     (20,265)
Transfer of private warrants to unaffiliated parties                               186             186
Amended Exercise price of ATW NPA warrants (Note 12)                               1,238             1,238
Reclassification of deferred gain upon adoption of ASC 842                                       3,393     3,393
Issuance pursuant to commitment to issue registered shares (32,900)                               32,900             32,900
Issuance pursuant to commitment to issue registered shares (in Shares)       2,387,500                                                
Conversion of notes payable into class A common stock     $ 6                           67,212             67,218
Conversion of notes payable into class A common stock (in Shares)       64,843,850                                                
Stock-based compensation                               9,793             9,793
Exercise of stock options                               9,535             9,535
Exercise of stock options (in Shares)       4,100,008                                                
Repurchase of common stock                               (767)             (767)
Repurchase of common stock (in Shares)       (96,759)                                                
Receipt of class A common stock in consideration of exercises of options                               (669)             (669)
Receipt of class A common stock in consideration of exercises of options (in Shares)       (311,878)                                                
Exercise of warrants     $ 1                           1,727             1,728
Exercise of warrants (in Shares)       17,026,193                                                
Foreign currency translation adjustment                                   13,548         13,548
Net loss                                       (398,169)     (398,169)
Balance at Sep. 30, 2022     $ 31           $ 6                 3,603,368     6,603     (3,322,685)     287,323
Balance (in Shares) at Sep. 30, 2022     345,794,368           64,000,588                                    
Balance at Jun. 30, 2022 $ 32,900     $ 24           $ 6                 3,491,041     (3,261)     (3,219,308)     268,502
Balance (in Shares) at Jun. 30, 2022     238,543,475           64,000,588                                    
Issuance of shares pursuant to the commitment to issue Class A and Class B Common Stock                                          
Issuance of shares pursuant to the commitment to issue Class A and Class B Common Stock (in Shares)       20,264,715                                                
Transfer of private warrants to unaffiliated parties                               186             186
Amended Exercise price of ATW NPA warrants (Note 12)                               1,238             1,238
Issuance pursuant to commitment to issue registered shares (32,900)                               32,900             32,900
Issuance pursuant to commitment to issue registered shares (in Shares)       2,387,500                                                
Conversion of notes payable into class A common stock     $ 6                           67,212             67,218
Conversion of notes payable into class A common stock (in Shares)       64,843,850                                                
Stock-based compensation                               3,319             3,319
Exercise of stock options                               7,181             7,181
Exercise of stock options (in Shares)       3,137,272                                                
Repurchase of common stock                               (767)             (767)
Repurchase of common stock (in Shares)       (96,759)                                                
Receipt of class A common stock in consideration of exercises of options                               (669)             (669)
Receipt of class A common stock in consideration of exercises of options (in Shares)       (311,878)                                                
Exercise of warrants     $ 1                           1,727             1,728
Exercise of warrants (in Shares)       17,026,193                                                
Foreign currency translation adjustment                                   9,864         9,864
Net loss                                       (103,377)     (103,377)
Balance at Sep. 30, 2022     $ 31           $ 6                 $ 3,603,368     $ 6,603     $ (3,322,685)     $ 287,323
Balance (in Shares) at Sep. 30, 2022     345,794,368           64,000,588                                    
[1] The shares of the Company’s common stock prior to the Business Combination (as defined in Note 1) have been retrospectively recast to reflect the change in the capital structure as a result of the Business Combination as described in Note 3.