Annual report pursuant to Section 13 and 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2022
Dec. 31, 2021
CURRENT ASSETS    
Cash and cash equivalents $ 5,776,731 $ 2,957,296
Accounts receivable, net 732,095 1,374,500
Restricted cash 1,584,959 7,972,914
Inventories, net 7,383,343 3,596,296
Prepaid expenses and other current assets 1,413,207 2,870,074
Total Current Assets 16,890,335 18,771,080
Restricted cash, net of current portion 102,255 12,491,684
Debt issuance costs, net   3,972,568
Operating lease right-of-use-assets 5,332,110 481,027
Intangible assets, net 11,524,333 12,771,996
Long term deposits 597,242 628,689
Goodwill 9,470,699 8,777,440
Contract asset - related party 15,618,495  
Property, plant and equipment, net 648,532,827 353,852,931
Advances to contractors   10,021,908
TOTAL ASSETS 708,068,296 421,769,323
CURRENT LIABILITIES    
Accounts payable 7,404,276 4,563,304
Accrued liabilities 27,718,259 40,269,003
Warrant Commitment Liability, at fair value   19,215,140
Current portion of operating lease obligations 1,897,303 198,440
Current portion of EPC deferred payment 35,748,779  
Notes payable including current portion of long-term debt, net 11,792,105 35,223,402
Convertible notes payable 1,000,000 1,000,000
Total Current Liabilities 85,560,722 100,469,289
LONG-TERM LIABILITIES    
Operating lease obligations, net of current portion 3,090,002 283,197
Mandatorily redeemable equity instruments of subsidiary, at fair value (Class B Units) 12,007,000 21,628,689
EPC deferred payment 92,949,558  
Long-term debt, net 12,248,752 3,450,576
Senior Credit Agreement, net 401,239,399 317,780,666
Asset retirement obligations, net of current portion 18,255,155 17,661,429
Environmental liabilities, net of current portion 16,018,650 19,488,571
Deferred tax liabilities 1,261,624 1,623,599
TOTAL LIABILITIES 642,630,862 482,386,016
Series C 15.00% preferred stock - 50,000,000 shares authorized; 145,000 and 0 shares issued and outstanding at December 31, 2022 and December 31, 2021 respectively 93,645,430  
STOCKHOLDERS' DEFICIT    
Common stock, $0.01 par value; 500,000,000 shares authorized; 42,347,599 shares issued and 42,344,827 shares outstanding at December 31, 2022 and 42,013,433 shares issued and outstanding, at December 31, 2021 423,476 420,134
Additional paid-in capital 122,632,584 51,142,220
Accumulated other comprehensive loss 72,514  
Accumulated deficit (171,756,655) (117,647,947)
Treasury stock, at cost - 2,772 shares at December 31, 2022 and 0 shares at December 31, 2021 (15,935)  
Total stockholders' deficit attributable to Global Clean Energy Holdings, Inc. (48,644,016) (66,085,593)
Non-controlling interests 20,436,020 5,468,900
Total Stockholders' Deficit (28,207,996) (60,616,693)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 708,068,296 $ 421,769,323