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FORM |
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(State or other jurisdiction of incorporation or organization) |
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(I.R.S. Employer Identification Number) |
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(Address of principal executive offices) |
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(Zip Code) |
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(Registrant’s telephone number, including area code) |
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Title of Each Class |
Trading Symbol |
Name of Each Exchange on Which Registered |
N/A |
N/A |
N/A |
Large accelerated filer |
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Accelerated filer |
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Smaller reporting company |
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Emerging growth company |
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Part I. FINANCIAL INFORMATION |
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-2- |
March 31, 2022 | December 31, 2021 | |||||||
ASSETS | ||||||||
CURRENT ASSETS | ||||||||
Cash and cash equivalents | $ | $ | ||||||
Accounts receivable, net | ||||||||
Restricted cash | ||||||||
Inventories, net | ||||||||
Prepaid expenses and other current assets | ||||||||
Total Current Assets | ||||||||
Restricted cash, net of current portion | ||||||||
Debt issuance costs, net | - | |||||||
Operating lease right-of-use-asset s | ||||||||
Intangible assets, net | ||||||||
Goodwill | ||||||||
Long term deposits | ||||||||
Property, plant and equipment, net | ||||||||
Advances to contractors | ||||||||
TOTAL ASSETS | $ | $ | ||||||
LIABILITIES AND STOCKHOLDERS' DEFICIT | ||||||||
CURRENT LIABILITIES | ||||||||
Accounts payable | $ | $ | ||||||
Accrued liabilities | ||||||||
Warrant Commitment Liability, at fair value | - | |||||||
Current portion of operating lease obligations | ||||||||
Notes payable including current portion of long-term debt, net | ||||||||
Convertible notes payable | ||||||||
Total Current Liabilities | ||||||||
LONG-TERM LIABILITIES | ||||||||
Operating lease obligations, net of current portion | ||||||||
Mandatorily redeemable equity instruments of subsidiary, at fair value (Class B Units) | ||||||||
Long-term debt, net | ||||||||
Senior credit facility, net | ||||||||
Asset retirement obligations, net of current portion | ||||||||
Environmental liabilities, net of current portion | ||||||||
Deferred tax liabilities | ||||||||
TOTAL LIABILITIES | ||||||||
Series C 15.00% preferred stock - | - | |||||||
STOCKHOLDERS' EQUITY | ||||||||
Common stock, $ | ||||||||
Additional paid-in capital | ||||||||
Accumulated other comprehensive loss | ( | ) | - | |||||
Accumulated deficit | ( | ) | ( | ) | ||||
Total stockholders' deficit attributable to Global Clean Energy Holdings, Inc. | ( | ) | ( | ) | ||||
Non-controlling interests | ||||||||
Total Stockholders' Equity | ( | ) | ||||||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | $ |
-3- |
For the three months ended March 31, | ||||||||
2022 | 2021 | |||||||
Revenue | ||||||||
Seed sales, net | $ | $ | ||||||
Cost of goods sold | ||||||||
Gross (Loss) Profit | ( | ) | ||||||
Operating Expenses | ||||||||
General and administrative expense | ||||||||
Facilities expense | ||||||||
Depreciation expense | ||||||||
Amortization expense | ||||||||
Total Operating Expenses | ||||||||
OPERATING LOSS | ( | ) | ( | ) | ||||
OTHER INCOME (EXPENSE) | ||||||||
Interest expense, net | ( | ) | ( | ) | ||||
Loss on extinguishment of debt | ( | ) | - | |||||
Other income | ( | ) | ||||||
Change in fair value of Class B Units | ( | ) | ( | ) | ||||
Change in fair value of Warrant Commitment Liability | - | |||||||
Loss before income taxes | ( | ) | ( | ) | ||||
Income tax benefit | - | |||||||
NET LOSS | $ | ( | ) | $ | ( | ) | ||
BASIC NET LOSS PER COMMON SHARE | $ | ( | ) | ( | ) | |||
DILUTED NET LOSS PER COMMON SHARE | $ | ( | ) | ( | ) | |||
BASIC WEIGHTED AVERAGE SHARES OUTSTANDING | ||||||||
DILUTED WEIGHTED-AVERAGE SHARES OUTSTANDING |
-4- |
For the three months ended March 31, | ||||||||
2022 | 2021 | |||||||
Net loss | $ | ( | ) | $ | ( | ) | ||
Other comprehensive loss: | ||||||||
Foreign currency translation adjustments | ( | ) | - | |||||
Comprehensive loss | $ | ( | ) | $ | ( | ) |
-5- |
Preferred Stock | Common Stock | Additional Paid in Capital | Accumulated other comprehensive loss | Accumulated Deficit | Non - controlling Interests | Total | ||||||||||||||||||||||
Beginning Balance at Dec. 31, 2020 | $ | $ | $ | $ | - | $ | ( | ) | $ | $ | ( | ) | ||||||||||||||||
Share-based compensation from issuance of options and compensation-based warrants | - | - | - | - | - | |||||||||||||||||||||||
Shares issued upon reverse split to avoid fractional shares | - | ( | ) | - | - | - | - | |||||||||||||||||||||
Conversion of note payable to shares | - | - | - | - | ||||||||||||||||||||||||
Net loss | - | - | - |