| Summary of Separation-related adjustments |
|
|
As of December 31, |
|
|
|
Separation-Related
|
|
|
|
As of January 1, |
|
| |
|
2021 |
|
|
|
Adjustment |
|
|
|
2022 |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
| Current: |
|
|
|
|
|
|
|
|
|
|
|
| Cash and equivalents |
$ |
14,376,523 |
|
|
$
|
(8 |
) |
|
$ |
14,376,515 |
|
| Related party receivables |
|
220,000 |
|
|
|
- |
|
|
|
220,000 |
|
| Other current assets |
|
6,274,397 |
|
|
|
(8,567 |
) |
|
|
6,265,830 |
|
| Total current assets |
|
20,870,920 |
|
|
|
(8,575 |
) |
|
|
20,862,345 |
|
| Capitalized software, net |
|
699,753 |
|
|
|
(699,753 |
) |
|
|
- |
|
| Total assets |
$ |
21,570,673 |
|
|
$ |
(708,328 |
) |
|
$ |
20,862,345 |
|
| Liabilities and Net Parent Equity |
|
|
|
|
|
|
|
|
|
|
|
| Current: |
|
|
|
|
|
|
|
|
|
|
|
Accounts payable
|
|
877,641 |
|
|
|
(718,232 |
) |
|
|
159,409 |
|
Related party payables
|
|
8,642,340
|
|
|
|
1,110,032
|
|
|
|
9,752,372
|
|
| Derivative financial instruments |
|
32,226 |
|
|
|
(32,226 |
) |
|
|
- |
|
Other payables
|
|
616,156 |
|
|
|
(94,361 |
) |
|
|
521,795 |
|
| Total current liabilities |
|
10,168,363 |
|
|
|
265,213 |
|
|
|
10,433,576 |
|
| Other noncurrent payables |
|
702,921 |
|
|
|
(297,921 |
) |
|
|
405,000 |
|
|
|
10,871,284 |
|
|
|
(32,708 |
) |
|
|
10,838,576 |
|
| Net parent equity |
|
|
|
|
|
|
|
|
|
|
|
| Net parent investment |
|
10,731,615 |
|
|
|
(707,846 |
) |
|
|
10,023,769 |
|
| Accumulated other comprehensive income/ (loss) |
|
(32,226 |
) |
|
|
32,226 |
|
|
|
- |
|
| Total net parent equity |
|
10,699,389 |
|
|
|
(675,620 |
) |
|
|
10,023,769 |
|
| Total liabilities and net parent equity |
$ |
21,570,673 |
|
|
$ |
(708,328 |
) |
|
$ |
20,862,345 |
|
|
| Summary of Reconciliation of Operating Profit (Loss) from Segments to Consolidated |
|
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
|
|
Segments
|
|
2022 |
|
|
2021
|
|
|
2022 |
|
|
2021 |
|
|
|
|
|
|
|
|
(as restated) |
|
|
|
|
|
|
|
(as restated) |
|
| eVTOL |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Research and development expenses |
|
$ |
(12,297,904 |
) |
|
$
|
(2,791,242 |
) |
|
$ |
(28,183,054 |
) |
|
$
|
(6,182,696 |
) |
| UATM |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Research and development expenses |
|
|
(1,524,028 |
) |
|
|
(14,713 |
) |
|
|
(4,299,873 |
) |
|
|
(453,722 |
) |
| Service and Support |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Research and development expenses |
|
|
(476,993 |
) |
|
|
- |
|
|
|
(1,347,963 |
) |
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total allocated expenses
|
|
|
(14,298,925 |
) |
|
|
(2,805,955
|
) |
|
|
(33,830,890 |
) |
|
|
(6,636,418 |
) |
|
Unallocated amounts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling, general and administrative/New Warrants expenses
|
|
|
(24,269,275 |
) |
|
|
(939,106
|
) |
|
|
(128,668,241 |
) |
|
|
(3,265,612 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss from operations
|
|
$ |
(38,568,200 |
) |
|
$
|
(3,745,061
|
) |
|
$ |
(162,499,131 |
) |
|
$ |
(9,902,030 |
) |
|