SUBSEQUENT EVENTS |
6 Months Ended |
|---|---|
Jun. 30, 2021 | |
| Subsequent Events [Abstract] | |
| SUBSEQUENT EVENTS |
NOTE I – SUBSEQUENT EVENTS On July 20, 2021, the Company entered into a non-binding Letter of Intent to acquire an off-shore company that owns certain patents, feedstock pathway expertise and intellectual property related to camelina development. The consummation of the transaction is subject to the Company's completion of its due diligence review and the preparation of mutually acceptable transaction documents. The transaction is scheduled to close by October 31, 2021. Effective July 23, 2021, GCEH appointed Phyllis Currie and Susan Anhalt to its Board of Directors. Ms. Currie has over three decades of experience as an executive in energy, including as General manager of the Pasadena, California Water and Power Department and as Chief Financial Officer of the Los Angeles Department of Water and Power. Ms. Anhalt has significant experience as a corporate and securities lawyer with public and private growth companies. On July 29, 2021, the Company entered into an amendment to each of its senior and mezzanine credit agreements with its lenders to extend the date of funding the $35 million contingency reserve to September 15, 2021, to increase the availability under the credit agreements by an aggregate of $5 million, and to convert its 1% fee payable under a prior amendment from a cash payment to a warrant to purchase $3.8 million in value of the Company's common stock. The number of shares to be issued upon exercise of the warrant is to be determined based on the price at which the Company issues shares of its common stock in its next material equity financing. |