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ASSETS HELD FOR SALE
6 Months Ended
Jun. 30, 2024
Property, Plant and Equipment Assets Held-for-Sale Disclosure [Abstract]  
ASSETS HELD FOR SALE
8.
ASSETS HELD FOR SALE

In the first quarter of 2023, the Company updated its Electron recovery strategy by completing a marine recovery, which we believe will be a more effective and financially viable type of recovery. As a result, the Company has ceased mid-air rocket booster recovery and began the sale process of two helicopters. As of March 31, 2023, the Company’s two helicopters met the held for sale criteria and the Company ceased depreciating these assets. On October 18, 2023, the Company sold one of the Company’s held for sale helicopters to a purchaser unaffiliated with the Company.

On June 6, 2024, the Company sold the remaining held for sale helicopter to a purchaser unaffiliated with the Company, for $12,030 before closing costs and holdbacks. The Company recognized a gain on sale of assets of $1,230 included in other income, net in the condensed consolidated statements of operations and comprehensive loss during the three and six months ended June 30, 2024.