Annual report pursuant to Section 13 and 15(d)

Schedule I - Parent Company Financial Information (Tables)

v3.22.1
Schedule I - Parent Company Financial Information (Tables) - Parent Company [Member]
 12 Months Ended
Dec. 31, 2021
Summary of Condensed Balance Sheet
Condensed Balance Sheet (in thousands USD)
 
 
  
December 31,
2021
 
 
December 31,
2020
 
Assets
  
      
 
      
Non-current
assets
  
      
 
      
Investment in subsidiaries
  
$
 261,012
 
 
$
 300,055
 
 
  
 
 
 
 
 
 
 
Total
non-current
assets
  
 
 261,012
 
 
 
 300,055
 
 
  
 
 
 
 
 
 
 
Total assets
  
$
261,012
 
 
$
300,055
 
 
  
 
 
 
 
 
 
 
Liabilities, temporary equity and stockholders’ equity
  
 
 
 
 
 
 
 
Long-term liabilities
  
 
 
 
 
 
 
 
Warrant liability
  
$
 286
 
 
$
 15,944
 
 
  
 
 
 
 
 
 
 
Total liabilities
  
 
286
 
 
 
15,944
 
 
  
 
 
 
 
 
 
 
Temporary equity
  
 
 
 
 
 
 
 
Series A Preferred Stock; par value $1,000 per share; none authorized, issued and outstanding at December 31, 2021; 7,765,229 shares authorized, and 7,756,158 shares issued and outstanding at December 31, 2020
  
 
 —
  
 
 
 
 77,562
 
 
  
 
 
 
 
 
 
 
Series A-1 Preferred Stock; par value $1,000 per share; none authorized, issued and outstanding at December 31, 2021; 10,480,538 shares authorized, 7,862,107 shares issued and outstanding at December 31, 2020
  
 
 —
  
 
 
 
 78,621
 
 
  
 
 
 
 
 
 
 
Series B Preferred Stock; par value $1,000 per share; none authorized, issued and outstanding at December 31, 2021; 9,090,975 shares authorized, 9,090,975 shares issued and outstanding at December 31, 2020
  
 
 —
  
 
 
 
 90,910
 
 
  
 
 
 
 
 
 
 
Series C Convertible Preferred Stock; par value $1,000 per share; none authorized, issued and outstanding at December 31, 2021; 6,872,894 shares authorized, 2,566,186 shares issued and outstanding at December 31, 2020
  
 
 —
  
 
 
 
 16,802
 
 
  
 
 
 
 
 
 
 
Total temporary equity
  
 
—  
 
 
 
263,895
 
 
  
 
 
 
 
 
 
 
Stockholders’ equity
  
 
 
 
 
 
 
 
Common stock, voting; par value $0.0001 per share; 315,000,000 shares authorized, 72,027,743 shares issued and outstanding at December 31, 2021; 55,659,643 shares authorized, 30,281,520 shares issued and outstanding at December 31, 2020
  
 
 7
 
 
 
 3
 
Additional
paid-in
capital
  
 
 401,688
 
 
 
 135,616
 
Accumulated other comprehensive loss
  
 
 (3,331
) 
 
 
 (1,677
) 
Accumulated deficit
  
 
 (137,638
) 
 
 
 (113,726
) 
 
  
 
 
 
 
 
 
 
Total stockholders’ equity
  
 
260,726
 
 
 
20,216
 
 
  
 
 
 
 
 
 
 
Total liabilities, temporary equity and stockholders’ equity
  
$
261,012
 
 
$
300,055
 
 
  
 
 
 
 
 
 
 
Summary of Condensed Statements of Loss and Comprehensive Loss
Condensed Statements of Loss and Comprehensive Loss (in thousands
USD)
 
For the years ended
  
December 31,
2021
 
 
December 31,
2020
 
 
December 31,
2019
 
Equity in net loss of
unconsolidated 
subsidiaries
  
$
 (29,177
) 
 
$
 (27,716
) 
 
$
 (23,678
) 
Change in fair value of warrant liability
  
 
 (5,267
) 
 
 
 7,485
 
 
 
 (235
) 
 
  
 
 
 
 
 
 
 
 
 
 
 
Loss before income taxes
  
 
(23,910
) 
 
 
(35,201
) 
 
 
(23,443
) 
 
  
 
 
 
 
 
 
 
 
 
 
 
Net loss
  
$
(23,910
) 
 
$
(35,201
) 
 
$
(23,443
) 
 
  
 
 
 
 
 
 
 
 
 
 
 
Other comprehensive loss:
  
 
 
 
 
 
 
 
 
 
 
 
Foreign currency translation adjustment
  
 
 (1,654
) 
 
 
 2,116
 
 
 
 517
 
 
  
 
 
 
 
 
 
 
 
 
 
 
Comprehensive loss
  
$
(25,564
) 
 
$
(33,085
) 
 
$
(22,926
) 
 
  
 
 
 
 
 
 
 
 
 
 
 
Summary of Condensed Statements of Cash Flows
Condensed Statements of Cash Flows (in thousands USD)
 
For the years ended
  
December 31,
2021
 
 
December 31,
2020
 
 
December 31,
2019
 
Cash flows from operating activities
  
 
 
Net loss
  
$
 (23,910
) 
 
$
 (35,201
) 
 
$
 (23,443
) 
Adjustments to reconcile net loss to net cash provided by operating activities
  
 
 
 
 
 
—  
 
 
 
—  
 
Equity in net loss of unconsolidated subsidiaries
  
 
 29,177
 
 
 
 27,716
 
 
 
 23,678
 
Change in fair value of warrant liability
  
 
 (5,267
) 
 
 
 7,485
 
 
 
 (235
) 
 
  
 
 
 
 
 
 
 
 
 
 
 
Cash provided by operating activities
  
$
—  
 
 
$
—  
 
 
$
—  
 
 
  
 
 
 
 
 
 
 
 
 
 
 
Cash flows from investing activities
  
 
 
 
 
 
 
 
 
 
 
 
Distribution from subsidiary
  
 
 5,947
 
 
 
 200
 
 
 
 80
 
 
  
 
 
 
 
 
 
 
 
 
 
 
Cash provided by investing activities
  
$
5,947
 
 
$
200
 
 
$
80
 
Cash flows from financing activities
  
 
 
 
 
 
 
 
 
 
 
 
Repurchase of common stock
  
 
 —
  
 
 
 
 (200
) 
 
 
 (80
) 
Issuance of common stock, net of transaction costs
  
 
 223,968
 
 
 
—  
 
 
 
—  
 
Settlement of preferred stock
  
 
 (229,915
) 
 
 
—  
 
 
 
—  
 
 
  
 
 
 
 
 
 
 
 
 
 
 
Cash used in financing activities
  
$
(5,947
) 
 
$
(200
) 
 
$
(80
)
Effect of exchange rate change on cash and cash equivalents
  
 
—  
 
 
 
—  
 
 
 
—  
 
 
  
 
 
 
 
 
 
 
 
 
 
 
Change in cash and cash equivalents and restricted cash
  
 
—  
 
 
 
—  
 
 
 
—  
 
Cash and cash equivalents and restricted cash, beginning of
 
year
  
 
—  
 
 
 
—  
 
 
 
—  
 
 
  
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents and restricted cash, end of year
  
$
—  
 
 
$
—  
 
 
$
—  
 
 
  
 
 
 
 
 
 
 
 
 
 
 
Non-cash
investing and financing activities:
  
 
 
 
 
 
 
 
 
 
 
 
Equity issued for acquisition of Integron, LLC
  
$
 —
  
 
 
$
 —
  
 
 
$
 7,000
 
 
  
 
 
 
 
 
 
 
 
 
 
 
Share-based payment awards issued to employees of subsidiaries
  
$
 1,839
 
 
$
 1,161
 
 
$
 1,682