XML 20 R7.htm IDEA: XBRL DOCUMENT v3.21.4
Condensed Statement of Cash Flows (Unaudited) - USD ($)
1 Months Ended 3 Months Ended 9 Months Ended 12 Months Ended
Dec. 31, 2020
Sep. 30, 2021
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
Dec. 31, 2019
Cash Flows from Operating Activities:            
Net loss   $ (28,276,000) $ (88,665,000) $ (4,387,000) $ (7,437,340) $ (7,329,896)
Depreciation and amortization     272,000 98,000 139,304 46,146
Share-based compensation     2,049,000 208,000 278,202 269,918
SAFE instrument remeasurement     62,993,000    
Warrant remeasurement     2,604,000 1,000    
Other non-cash operating activities     947,000 70,000    
Non-cash operating lease cost         133,608 64,417
Loss on warrant valuation         7,495 21,448
Changes in assets and liabilities:            
Receivables     (94,000) (40,000)    
Interest receivable     (46,000)    
Other long-term assets     (3,864,000)    
Accrued expenses and other current liabilities     1,921,000 66,000    
Contract liabilities     1,660,000    
Other long-term liabilities     69,000 (70,000)    
Accounts receivable trade, net         293,884
Prepaid and other current assets     1,170,000 (47,000) (150,335) 220,467
Trade payables     1,347,000 (130,000) (50,950) 238,238
Accrued expenses and other payables         212,019 (22,787)
Operating lease liabilities     (510,000) (133,608) (64,417)
Adjustments to reconcile net income to net cash used in operating activities:            
Net cash used in operating activities     (18,147,000) (4,231,000) (7,001,605) (6,262,582)
Proceeds from exercise of stock options     355,000 22,000 32,736 67,838
Proceeds from exercise of common stock warrants     30,000      
Other financing costs     (1,487,000)      
Proceeds from issuance of preferred shares, net of issuance costs of $13.3 thousand and $20.0 thousand, respectively         10,241,714 14,686,701
Proceeds from preferred shares, net of issuance costs of $59.3 thousand       10,242,000    
Proceeds from SAFE instruments, net of issuance costs of $30.1 thousand     83,411,000      
Proceeds from Paycheck Protection Program loan       411,000 410,941
Repayments on Paycheck Protection Program loan     (411,000)      
Net cash provided by financing activities     81,898,000 10,675,000 10,685,391 14,754,539
INCREASE IN CASH AND CASH EQUIVALENTS     23,292,000 6,230,000 3,389,254 8,049,812
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, BEGINNING OF THE PERIOD     18,334,000 14,945,000 14,945,000  
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF THE PERIOD $ 18,334,000 41,626,000 41,626,000 21,175,000 18,334,000 14,945,000
Cash, beginning of period     18,334,079 14,944,825 14,944,825 6,895,013
Cash, end of the period 18,334,079       18,334,079 14,944,825
Cash paid for interest        
Cash paid for incomes taxes, net        
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES            
Right-of-use assets obtained in exchange for new operating lease liabilities     16,685,000 601,000 600,687 73,278
Capitalization of property, plant and equipment incurred but not yet paid     369,000   24,668 72,179
Operating lease right-of-use asset recorded on adoption of ASC 842         136,111
Cash Flows from investing activities:            
Purchases of property, plant, and equipment     (1,428,000) (214,000) (294,532) (442,145)
Purchases of available-for-sale investments     (41,647,000)    
Maturities of available-for-sale investments     4,300,000      
Acquisition of HelioHeat, net of cash acquired     (1,684,000)      
Net cash used in investing activities     (40,459,000) $ (214,000) (294,532) $ (442,145)
Athena Technology Acquisition Corp [Member]            
Cash Flows from Operating Activities:            
Net loss (761) (5,763,793) (5,511,905)      
Interest on marketable securities held in Trust Account     (13,873)      
Offering costs allocated to warrants   566,948      
Change in fair value of warrant liability   4,197,665 1,392,083      
Prepaid expenses     (283,708)      
Other non-current assets     (110,473)      
Accrued offering costs and expenses     2,502,189      
Due to related party     8,391      
Adjustments to reconcile net income to net cash used in operating activities:            
Formation cost paid by Sponsor 761          
Net cash used in operating activities   (1,450,348)      
Proceeds from sale of Units, net of underwriting discount     245,000,000      
Proceeds from sale of Private Placement Units     7,000,000      
Payment of offering costs     (372,927)      
Net cash provided by financing activities     251,627,073      
Net change in cash   176,725      
Cash, beginning of period        
Cash, end of the period $ 176,725 176,725    
Deferred offering costs paid by Sponsor in exchange for issuance of Class B common stock 25,000          
Initial classification of common stock subject to possible redemption     250,000,000      
Deferred offering costs paid by Sponsor under the promissory note 11,739          
Change in common stock subject to possible redemption     13,873      
Deferred offering costs included in accrued offerings costs and expenses $ 5,000          
Initial classification of warrant liability     10,258,582      
Deferred underwriters’ discount payable charged to additional paid-in capital     8,750,000      
Cash Flows from investing activities:            
Investment of cash in Trust Account     (250,000,000)      
Net cash used in investing activities     $ (250,000,000)