FORM |
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification Number) | |
(Address of principal executive offices) | (Zip Code) |
( | ||||
(Registrant’s telephone number, including area code) |
Title of Each Class | Trading Symbol | Name of Each Exchange on Which Registered |
None | N/A | N/A |
Large accelerated filer | ¨ | Accelerated filer | ¨ |
x | Smaller reporting company | ||
Emerging growth company |
-2- |
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March 31, 2023 |
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December 31, 2022 |
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ASSETS |
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CURRENT ASSETS |
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Cash and cash equivalents |
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$ |
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$ |
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Accounts receivable, net |
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Restricted cash |
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Inventories, net |
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Prepaid expenses and other current assets |
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Total Current Assets |
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Restricted cash, net of current portion |
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Operating lease right-of-use-assets |
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Intangible assets, net |
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Goodwill |
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Long term deposits |
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Contract asset - related party |
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Property, plant and equipment, net |
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TOTAL ASSETS |
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$ |
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$ |
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LIABILITIES AND STOCKHOLDERS' DEFICIT |
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CURRENT LIABILITIES |
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Accounts payable |
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$ |
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$ |
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Accrued liabilities |
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Current portion of operating lease obligations |
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Current portion of EPC deferred payment |
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Notes payable including current portion of long-term debt, net |
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Convertible notes payable |
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Total Current Liabilities |
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LONG-TERM LIABILITIES |
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Operating lease obligations, net of current portion |
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Mandatorily redeemable equity instruments of subsidiary, at fair value (Class B Units) |
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EPC deferred payment |
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Long-term debt, net |
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Senior Credit Agreement, net |
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Asset retirement obligations, net of current portion |
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Environmental liabilities, net of current portion |
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Deferred tax liabilities |
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TOTAL LIABILITIES |
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Series C 15.00% preferred stock - |
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STOCKHOLDERS' DEFICIT |
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Common stock, $ shares issued and shares issued and outstanding, at December 31, 2022 |
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Additional paid-in capital |
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Accumulated other comprehensive income |
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Accumulated deficit |
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( |
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Treasury stock, at cost , |
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Total stockholders' deficit attributable to Global Clean Energy Holdings, Inc. |
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( |
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Non-controlling interests |
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Total Stockholders' Deficit |
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TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT |
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$ |
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$ |
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-3- |
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For the three months ended March 31, |
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2023 |
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2022 |
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Revenue |
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$ |
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$ |
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Cost of goods sold |
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Gross Loss |
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Operating Expenses |
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General and administrative expense |
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Facilities expense |
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Depreciation expense |
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Amortization expense |
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Total Operating Expenses |
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OPERATING LOSS |
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OTHER INCOME (EXPENSE) |
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Interest expense, net |
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Loss on extinguishment of debt |
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Other (expense) income |
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Change in fair value of Class B Units |
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Change in fair value of Warrant Commitment Liability |
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Loss before income taxes |
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Income tax (expense) benefit |
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NET LOSS |
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$ |
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$ |
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BASIC NET LOSS PER COMMON SHARE |
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$ |
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$ |
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DILUTED NET LOSS PER COMMON SHARE |
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$ |
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$ |
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BASIC WEIGHTED AVERAGE SHARES OUTSTANDING |
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DILUTED WEIGHTED-AVERAGE SHARES OUTSTANDING |
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-4- |
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For the three months ended March 31, |
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2023 |
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2022 |
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Net loss |
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$ |
( |
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$ |
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Other comprehensive gain (loss): |
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Foreign currency translation adjustments |
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Comprehensive loss |
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$ |
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$ |
( |
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-5- |
Common Stock | Additional Paid in Capital | Accumulated other comprehensive loss | Accumulated Deficit | Treasury Stock | Non - controlling Interests | Total | ||||||||||||||||||||||
Beginning Balance at Dec. 31, 2021 | $ | $ | $ | $ | ( | ) | $ | $ | ( | ) | ||||||||||||||||||
Share-based compensation from issuance of options and compensation-based warrants | - | - | - | - | ||||||||||||||||||||||||
Exercise of stock options | - | - |