SHARE PURCHASE, SUBSCRIPTION AGREEMENTS AND MOBILE REFINERY ACQUISITION (Tables)

6 Months Ended

Jun. 30, 2022

Equity [Abstract]

Reconciliation of changes in redeemable noncontrolling interest

The table below presents the reconciliation of changes in redeemable noncontrolling interest relating to MG SPV as of June 30, 2022 and 2021 (in thousands):

	June 30, 2022		June 30, 2021
Beginning balance	$	6,812	$	5,473
Net loss attributable to redeemable non-controlling interest	(38)		(129)
Accretion of non-controlling interest to redemption value	428		762
Redemption of non-controlling interest	(7,202)
Ending balance	$	—	$	6,106

The table below presents the reconciliation of changes in redeemable noncontrolling interest relating to Heartland SPV as of June 30, 2022 and 2021 (in thousands):

	June 30, 2022		June 30, 2021
Beginning balance	$	36,635	$	26,139
Net income attributable to redeemable non-controlling interest	6,829		4,783
Redemption of non-controlling interest	(43,464)		—
Ending balance	$	—	$	30,922

Schedule of business acquisitions, by acquisition

The purchase price allocation is preliminary and subject to change based upon the finalization of our valuation report. The following table summarizes the preliminary determination and recognition of assets acquired (in thousands):

	Financing agreement		Vertex acquisition		Total
Inventory	$	124,311	$	5,909	$	130,220
Prepaid assets	—		147		147
Fixed assets	—		97,158		97,158
Total purchase price	$	124,311	$	103,214	$	227,525

Summarized results of operations

The following table presents summarized results of operations of Mobile Refinery for the period from April 1, 2022 to June 30, 2022, and are included in the accompanying consolidated statement of operations for the period ended June 30, 2022 (in thousands):

	For Three Months Ended June 30, 2022
Revenue	$	922,196
Net loss	$	(24,271)

Schedule of unaudited pro forma

The following table presents unaudited pro forma results of operations reflecting the acquisition of Mobile Refinery as if the acquisition had occurred as of January 1, 2021. This information has been compiled from current and historical financial statements and is not necessarily indicative of the results that actually would have been achieved had the transaction occurred at the beginning of the periods presented or that may be achieved in the future (in thousands):

	For Six Months Ended June 30,
	2022		2021
Revenue	$	1,670,800	$	942,900
Net income (loss)	$	30,200	$	(24,900)