Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2023
Dec. 31, 2022
CURRENT ASSETS    
Cash and cash equivalents $ 3,443,767 $ 5,776,731
Accounts receivable, net 1,501,444 732,095
Restricted cash 0 1,584,959
Inventories, net 5,968,766 7,383,343
Prepaid expenses and other current assets 400,476 1,413,207
Total Current Assets 11,314,453 16,890,335
Restricted cash, net of current portion 0 102,255
Operating lease right-of-use-assets 4,961,051 5,332,110
Intangible assets, net 11,205,159 11,524,333
Goodwill 10,070,669 9,470,699
Long term deposits 972,757 597,242
Contract asset - related party 15,618,495 15,618,495
Property, plant and equipment, net 679,426,731 648,532,827
TOTAL ASSETS 733,569,315 708,068,296
CURRENT LIABILITIES    
Accounts payable 8,422,976 7,404,276
Accrued liabilities 32,906,221 27,718,259
Current portion of operating lease obligations 2,262,617 1,897,303
Current portion of EPC deferred payment 35,748,779 35,748,779
Notes payable including current portion of long-term debt, net 24,888,361 11,792,105
Convertible notes payable 1,000,000 1,000,000
Total Current Liabilities 105,228,954 85,560,722
LONG-TERM LIABILITIES    
Operating lease obligations, net of current portion 2,442,600 3,090,002
Mandatorily redeemable equity instruments of subsidiary, at fair value (Class B Units) 13,817,000 12,007,000
EPC deferred payment 92,949,558 92,949,558
Long-term debt, net 148,414 12,248,752
Senior Credit Agreement, net 433,778,621 401,239,399
Asset retirement obligations, net of current portion 16,335,313 18,255,155
Environmental liabilities, net of current portion 17,850,981 16,018,650
Deferred tax liabilities 987,089 1,261,624
TOTAL LIABILITIES 683,538,530 642,630,862
Series C 15.00% preferred stock - 50,000,000 shares authorized; 145,000 and 145,000 shares issued and outstanding at March 31, 2023 and December 31, 2022 respectively 102,524,521 93,645,430
STOCKHOLDERS' DEFICIT    
Common stock, $0.01 par value; 500,000,000 shares authorized; 42,352,799 shares issued and 42,350,027 shares outstanding at March 31, 2023 and 42,347,599 shares issued and 42,344,827 shares outstanding, at December 31, 2022 423,528 423,476
Additional paid-in capital 122,978,562 122,632,584
Accumulated other comprehensive income 83,878 72,514
Accumulated deficit (196,399,789) (171,756,655)
Treasury stock, at cost -2,772 shares at March 31, 2023 and -2,772 shares at December 31, 2022 (15,935) (15,935)
Total stockholders' deficit attributable to Global Clean Energy Holdings, Inc. (72,929,756) (48,644,016)
Non-controlling interests 20,436,020 20,436,020
Total Stockholders' Deficit (52,493,736) (28,207,996)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 733,569,315 $ 708,068,296