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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net loss $ (88,391,854) $ (153,976,295)
Adjustments to reconcile net loss to net cash used by operating activities:    
Depreciation and loss on disposal of property 141,714 0
Non-cash lease expenses 54,766 0
Amortization of debt issuance costs 1,750 0
Unrealized (gain) on exchange rate translation (384,791) (53,517)
Share-based compensation 3,320,330 2,589,688
Warrant expenses 480,000 106,496,321
Change in fair value of derivative financial instruments 9,832,500 (6,127,500)
Changes in operating assets and liabilities:    
Accrued interest on financial investments, net (5,666,936) (1,354,049)
Accrued interest on related party loan receivable, net 844,425 (638,145)
Other assets (732,745) 3,263,583
Related party receivables (1,898,477) 14,814
Accounts payable (256,735) 2,865,325
Related party payables 8,015,787 4,641,968
Other payables 4,643,734 3,575,088
Net cash used by operating activities (69,996,532) (38,702,719)
Cash flows from investing activities:    
Redemptions of financial investments 72,500,000 0
Purchases of financial investments (52,500,000) (169,000,000)
Related party loan 0 (81,000,000)
Expenditures for property, plant and equipment (168,056) (418,721)
Net cash provided (used) by investing activities 19,831,944 (250,418,721)
Cash flows from financing activities:    
Proceeds from issuance of debt 11,375,385 0
Non-creditor debt issuance costs (375,201) 0
Tax withholding on share-based compensation (287,154) 0
Capital contribution net of transaction costs reimbursed to Zanite 0 369,830,250
Transaction Costs reimbursed to parent 0 (15,754,066)
Distribution to parent, net 0 (1,372,633)
Proceeds from exercise of public warrants 1,150 0
Net cash provided by financing activities 10,714,180 352,703,551
Effect of exchange rate changes on cash and cash equivalents 401,663 (17,263)
(Decrease) increase in cash and cash equivalents (39,048,745) 63,564,848
Cash and cash equivalents at the beginning of the period 49,146,063 14,376,523
Cash and cash equivalents at the end of the period 10,097,318 77,941,371
Cash paid for:    
Income tax 874,810 489,590
Supplemental disclosure of other non-cash investing and financing activities    
Recognition of the Right-of-use assets and operating lease liabilities 372,863 0
Issuance of common stock for vested Restricted Stock Units $ 1,365,750 $ 1,584,800

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