XML 30 R8.htm IDEA: XBRL DOCUMENT v3.22.2.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended 8 Months Ended 12 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Dec. 31, 2020
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities          
Net income (loss) $ (8,600,874) $ (240,002)   $ (13,413,532) $ (1,256,686)
Adjustments to reconcile net loss to net cash provided by operating activities:          
Depreciation and amortization 754,874 27,738   249,737 45,261
Stock-based compensation 33,972     1,414,479 1,102,044
Interest expense (Note 7) 18,608 1,691   7,285 5,477
Unrealized foreign exchange gain   (911)      
Deferred tax recovery (Note 9)       (128,459)  
Forgiveness of long-term debt (Note 10)         (7,461)
Change in fair value of option liability (Note 12)       3,214,286
Adjustments to reconcile net loss to cash flows provided by operating activities (7,776,222) (211,484)   (8,656,204) (111,365)
Changes in operating assets and liabilities:          
Accounts receivable (299,921) 70,504   139,267 (660,737)
Prepaid expenses (3,317,496) (403,305)   (364,833) 23,242
Accounts payable and accrued liabilities 1,986,907 1,073,867   3,622,560 746,396
Deferred revenue 312,151 (5,718)   66,944 20,370
Income taxes payable   27   595 33,285
Net cash used in operating activities (9,111,779) 523,891   (5,191,671) 51,191
Cash flows from investing activities          
Purchase of capital assets (4,018,919) (171,053)   (1,339,660)  
Purchase of intellectual property   (500,447)      
Purchase of intangible assets       (500,447) (68,806)
Cash acquired on acquisition of Locals Technology Inc. (Note 3)       3,420,060  
Net cash provided by (used in) investing activities (4,018,919) (671,500)   1,579,953 (68,806)
Cash flows from financing activities          
Repayments of proceeds from bank indebtedness   (337,636)   (337,636) 337,636
Lease payments (187,103) (26,956)   (118,886) (46,067)
Proceeds from long-term debt   649   (23,556) 31,017
Proceeds from issuance of preference shares and Class A common shares (Note 10 and 11)   25,000,000      
Proceeds from other liabilities (Note 11)       250,000  
Repurchase of shares (Note 13)         (746,103)
Proceeds from issuance of preference shares and Class A common shares (Note 12 and 13)       50,000,000  
Share issuance costs (Note 12)   (710,797)   (756,876)  
Net cash provided by financing activities (187,103) 23,925,260   49,013,046 (423,517)
Foreign exchange gain on cash and cash equivalents held in foreign currency         (119)
Increase (decrease) in cash and cash equivalents during the period (13,317,801) 23,777,651   45,401,328 (441,251)
Cash – beginning of the period 46,847,375 1,446,047   1,446,047 1,887,298
Cash – end of the period 33,529,574 25,223,698 $ 1,446,047 46,847,375 1,446,047
Supplemental cash flow information          
Cash paid for income taxes  
Cash paid for interest   6,325 6,182
Cash paid for lease liabilities       90,881 48,526
CF ACQUISITION CORP. VI          
Cash flows from operating activities          
Net income (loss) 8,664,195 (1,372,278) (1,294) (17,908,151)  
Adjustments to reconcile net loss to net cash provided by operating activities:          
General and administrative expenses paid by related party 633,141 276,362 355,844  
Interest income on investments held in Trust Account (348,811) (7,973) (23,016)  
Changes in fair value of warrant liability (9,285,982) (2,244,937) 10,418,045  
Stock-based compensation 14,635   160,975  
Changes in fair value of FPS liability (298,391) 3,023,766 4,452,968  
Changes in operating assets and liabilities:          
Other assets 270,784   470,673  
Accrued expenses 517,171 (34,640) 1,294 1,240,539  
Payables to related party (367,461) 87,986   451,318  
Franchise tax payable (166,742) 90,909   200,000  
Deferred offering costs associated with the initial public offering   180,805   180,805  
Net cash used in operating activities (367,461)    
Cash flows from investing activities          
Proceeds from Trust Account to pay franchise taxes 25,565        
Purchases of cash equivalents held in Trust Account (600,009,095)        
Sales and maturities of cash equivalents held in Trust Account 600,009,095        
Cash deposited in Trust Account   (300,000,000)   (300,000,000)  
Net cash provided by (used in) investing activities 25,565 (300,000,000)   (300,000,000)  
Cash flows from financing activities          
Proceeds from issuance of Class B common stock     25,000    
Proceeds from related party – Sponsor loan 1,224,199 706,758   949,154  
Proceeds received from initial public offering   300,000,000   300,000,000  
Proceeds received from private placement   7,000,000   7,000,000  
Offering costs paid   (6,424,856)   (6,424,856)  
Payment of related party payable (692,641) (1,247,076)   (1,524,298)  
Net cash provided by financing activities 531,558 300,034,826 25,000 300,000,000  
Net change in cash 189,662 34,826 25,000    
Cash – beginning of the period 25,000 25,000   25,000  
Cash – end of the period $ 214,662 59,826 25,000 25,000 $ 25,000
Supplemental disclosure of non-cash financing activities:          
Deferred offering costs included in accrued expenses     75,000    
Offering costs paid with note payable to Sponsor   45,346 $ 105,805 45,346  
Prepaid expenses paid with payables to related party   $ 393,452   $ 1,017,304