v3.23.1
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net loss $ (25,771,982) $ (10,010,008)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 22,050 0
Non-cash lease expenses 9,461 0
Unrealized loss/(gain) on the exchange rate translation (58,553) 0
Long-term incentive plan expense 98,321 0
Stock-based compensation 867,893 0
Warrants expenses 2,674,500 0
Interest on financial investments (3,828,323) 0
Carve-out expenses (contributed from Parent) 0 732,769
Changes in operating assets and liabilities:    
Other assets 715,618 (1,242,627)
Related party receivables 5,346 57,321
Accounts payable (1,708,467) (98,593)
Related party payables 3,597,173 8,241,343
Operating lease liabilities (9,461) 0
Other payables 3,495,301 450,845
Net cash used in operating activities (19,891,123) (1,868,950)
Cash flows from investing activities:    
Purchases of investment securities (17,500,000) 0
Property, plant & equipment (43,699) 0
Net cash used in investing activities (17,543,699) 0
Effect of exchange rate changes on cash and cash equivalents 125,952 0
Decrease in cash and cash equivalents (37,308,870) (1,868,950)
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 11,837,193 12,507,573
Supplemental disclosure of other noncash investing and income taxes paid    
Income tax paid 147,665 0
Property, plant & equipment expenditures in accounts payable and other accruals $ 121,047 $ 0

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