Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.22.1
CONSOLIDATED STATEMENTS OF CASH FLOWS
€ in Millions
 12 Months Ended
Dec. 31, 2021
USD ($)
shares
Dec. 31, 2020
USD ($)
shares
Operating Activities    
Net Loss $ (51,415,508) $ (10,550,175)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Share-based compensation 1,460,189 326,486
Depreciation and amortization 1,105,124 360,375
Accretion of asset retirement obligations 978,009 652,000
Gain on settlement of liabilities   (512,363)
Change in fair value of Class B Units 6,083,276 2,021,656
Change in fair value of Warrant Commitment Liability 3,210,885  
Change in fair value of derivative liability   (5,476,000)
Amortization of debt discount and issuance costs 4,798,252  
Deferred tax benefit (1,121,215)  
Changes in operating assets and liabilities net of effect of business acquisitions:    
Accounts receivable (135,783) (143,823)
Inventories (2,750,099) (823,255)
Prepaid expenses 3,443,016 (1,106,870)
Other current assets 213,356  
Deposits and other assets (307) (875,129)
Accounts payable 3,836,128 9,214,375
Accrued liabilities (404,401) 3,216,448
Asset retirement obligations (2,265,557) (135,000)
Environmental liabilities (510,817) (694,999)
Operating Lease Obligations (432) 610
Net Cash Used in Operating Activities (33,475,884) (4,525,664)
Investing Activities    
Cash paid for the Bakersfield Renewable Fuels Refinery (40,000,000.0) (36,500,000)
Cash received as part of acquisition of Agribody Technologies, Inc. 263,755  
Cash paid for intangible assets (111,746)  
Advances to contractors, net (10,021,908) (16,000,000)
Cash paid for property, plant, and equipment (170,941,874) (45,569,854)
Net Cash Used in Investing Activities (181,440,746) (98,069,854)
Financing Activities    
Proceeds received from exercise of stock options 12,005 90,796
Payments on notes payable and long-term debt (3,720,736) (5,976,689)
Borrowings on Bridge Loan 12,049,763  
Borrowings on other notes 1,771,783  
Issuance of common stock for cash 3,100,000  
Payments on debt issuance costs   (4,423,211)
Borrowings on Senior Credit Facility 186,142,984 151,430,016
Net Cash Provided by Financing Activities 199,355,799 141,120,912
Net Change in Cash, Cash Equivalents and Restricted Cash (15,560,831) 38,525,394
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 38,982,725 457,331
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 23,421,894 38,982,725
Supplemental Disclosures of Cash Flow Information    
Cash Paid for Interest 30,227,893 7,989,794
Leased assets obtained for new operating lease liabilities 443,842  
Cash Paid for Income Taxes  
Supplemental Disclosures of Non-cash Investing and Financing Activities    
Issued options in Global Clean Energy Acquisitions subsidiary   5,468,900
Assumed asset retirement obligations   21,901,977
Assumed environmental liabilities   22,033,937
Conversion of derivative liability of $19.3 million into a fixed payment obligation with fair value of $18.8 million for a gain on derecognition of derivative liability   $ 512,363
Issued warrants to a third party for equity in Sustainable Oils, Inc. | shares   8,777
Financed insurance premiums with note payable   $ 4,315,905
Debt discount related to Class B units issued to lender 6,083,276  
Lender warrant commitment incurred for payment of debt issuance costs and payment of consent premium payable to Senior Lenders 16,004,255  
Issued 1,640,509 shares of common stock for conversion of several notes payable and accrued interest 784,925  
Issued 830,526 shares of common stock to acquire Agribody Technologies, Inc. 5,000,000  
In-kind interest added to principal balance of Senior Credit Facility 5,891,725 1,948,553
Amounts included in accounts payable and accrued liabilities for purchases of property, plant, and equipment 27,045,738 8,996,960
Capitalized interest included in property, plant, and equipment $ 30,024,394 10,220,766
Issued 407,150 shares of common stock to acquire Entira, Inc. | shares 2,463,307  
Issued 1,353,951 shares of common stock to acquire Camelina Company Espana SL   $ 5,468,900
Camelina Company Espana SL    
Investing Activities    
Cash received as part of acquisition of Agribody Technologies, Inc. $ (631,073)  
Supplemental Disclosures of Non-cash Investing and Financing Activities    
Issued options in Global Clean Energy Acquisitions subsidiary 6,712,462  
Issued 1,353,951 shares of common stock to acquire Camelina Company Espana SL 6,712,462  
Entira, Inc    
Investing Activities    
Cash received as part of acquisition of Agribody Technologies, Inc. $ 2,100