|
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 |
|
|
|
|
|
|
|
Smaller reporting company |
|
|
|
|
|
|
|
Emerging growth company |
|
|
|
2 |
|
|
September 30, 2023 |
|
|
December 31, 2022 |
|
||
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 |
|
|
|
|
|
|
|
|
Operating lease right-of-use-assets |
|
|
|
|
|
|
|
|
Intangible assets, net |
|
|
|
|
|
|
|
|
Goodwill |
|
|
|
|
|
|
|
|
Other long- term assets |
|
|
|
|
|
|
|
|
Contract asset - related party |
|
|
|
|
|
|
|
|
Property, plant and equipment, net |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL ASSETS |
|
$ |
|
|
|
$ |
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS' DEFICIT |
|
|
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
|
|
|
|
Accounts payable |
|
$ |
|
|
|
$ |
|
|
Accrued liabilities |
|
|
|
|
|
|
|
|
Current portion of operating lease obligations |
|
|
|
|
|
|
|
|
Current portion of EPC deferred payment |
|
|
|
|
|
|
|
|
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) |
|
|
|
|
|
|
|
|
EPC deferred payment, net of current portion |
|
|
|
|
|
|
|
|
Long-term debt, net |
|
|
|
|
|
|
|
|
Senior Credit Agreement, net |
|
|
|
|
|
|
|
|
Asset retirement obligations, net of current portion |
|
|
|
|
|
|
|
|
Environmental liabilities, net of current portion |
|
|
|
|
|
|
|
|
Deferred tax liabilities |
|
|
|
|
|
|
|
|
Other long-term liabilities |
|
|
|
|
|
|
|
|
TOTAL LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commitments and contingencies (Note I) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Series C 15.00% preferred stock - |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
STOCKHOLDERS' DEFICIT |
|
|
|
|
|
|
|
|
Common stock, $ |
|
|
|
|
|
|
|
|
Additional paid-in capital |
|
|
|
|
|
|
|
|
Accumulated other comprehensive income (loss) |
|
|
( |
) |
|
|
|
|
Accumulated deficit |
|
|
( |
) |
|
|
( |
) |
Treasury stock, at cost, |
|
|
|
|
|
|
( |
) |
Total stockholders' deficit attributable to Global Clean Energy Holdings, Inc. |
|
|
( |
) |
|
|
( |
) |
Non-controlling interests |
|
|
|
|
|
|
|
|
Total Stockholders' Deficit |
|
|
( |
) |
|
|
( |
) |
|
|
|
|
|
|
|
|
|
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT |
|
$ |
|
|
|
$ |
|
|
3 |
For the three months ended September 30, | For the nine months ended September 30, | |||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||
Revenue | $ | $ | $ | $ | ||||||||||||
Cost of goods sold | ||||||||||||||||
Gross Profit (Loss) | ( | ) | ( | ) | ||||||||||||
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 (expense) | ( | ) | ||||||||||||||
Change in fair value of Class B Units | ( | ) | ||||||||||||||
Change in fair value of Warrant Commitment Liability | ||||||||||||||||
Loss before income taxes | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||
Income tax benefit (expense) | ( | ) | ( | ) | ( | ) | ||||||||||
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 September 30, |
|
|
For the nine months ended September 30, |
|
||||||||||
|
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
||||
Net loss |
|
$ |
( |
) |
|
$ |
( |
) |
|
$ |
( |
) |
|
$ |
( |
) |
Other comprehensive gain (loss): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign currency translation adjustments |
|
|
( |
) |
|
|
|
|
|
|
( |
) |
|
|
|
|
Comprehensive loss |
|
$ |
( |
) |
|
$ |
( |
) |
|
$ |
( |
) |
|
$ |
( |
) |
5 |
|
|
Common Stock |
|
|
Additional Paid in Capital |
|
|
Accumulated other comprehensive income (loss) |
|
|
Accumulated Deficit |
|
|
Treasury Stock |
|
|
Non - controlling Interests |
|
|
Total |
|
|||||||
Beginning Balance at December 31, 2021 |
|
$ |
|
|
|
$ |
|
|
|
$ |
|
|
|
$ |
( |
) |
|
|
|
|
|
$ |
|
|
|
$ |
( |
) |
Share-based compensation from issuance of options and compensation-based warrants |
|
|
- |
|
|