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Income Tax (Tables) | 12 Months Ended
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Dec. 31, 2023 | Sep. 30, 2023
Income Tax Disclosure [Line Items] |  |
Changes in our unrecognized tax benefits | The changes in our unrecognized tax benefits for the indicated periods are summarized below:
|  | 2023 |  |  | 2022 |
|  | (as restated) |  |  | (as restated) |
Balance at January 1 |  | $ | 24,388,433 |  |  | $ | 11,811,695 |
Effect of rate changes |  |  | — |  |  |  | — |
Additions based on tax positions related to current year |  |  | 6,882,336 |  |  |  | 13,857,760 |
Foreign currency translation |  |  | 2,483,300 |  |  |  | (1,281,022 | )
Balance at December 31 |  |  | 33,754,069 |  |  |  | 24,388,433 |
The Company and its subsidiaries are liable to income taxes in their respective jurisdiction | The Company and its subsidiaries are liable to income taxes in their respective jurisdiction. The Company has unused tax losses as follows as at December 31, 2023:
Subsidiaries in Jurisdiction |  | Tax loss carryforward |  |  | Expiration date |
UK (1) |  |  | 191,771,010 |  |  |  | (1 | )
US |  |  | 5,542,459 |  |  | Indefinite |
Spain |  |  | 844,411 |  |  | Indefinite |
India |  |  | — |  |  | N/A |
Taiwan |  |  | 2,359,658 |  |  | 10 years |
Current Income Tax Expense (Benefit) | Current Income tax expense (benefit) consists of:
|  | December 31, 2023 |  |  | December 31, 2022 |
|  | (as restated) |  |  | (as restated) |
Taiwan |  |  | — |  |  |  | 10,639 |
India |  |  | 63,408 |  |  |  | 28,126 |
Total |  |  | 63,408 |  |  |  | 38,765 |
Components of loss (income) before income taxes | The components of our loss (income) before income taxes are as follows:
|  | December 31, 2023 |  |  | December 31, 2022 |
|  | (as restated) |  |  | (as restated) |
UK |  | $ | 29,427,631 |  |  | $ | 107,945,740 |
US |  |  | 994,933 |  |  |  | 634,526 |
Spain |  |  | 298,927 |  |  |  | 381,321 |
India |  |  | (92,982 | ) |  |  | (300,433 | )
Taiwan |  |  | 44,181 |  |  |  | 2,051,794 |
Total |  |  | 30,672,980 |  |  |  | 110,712,948 |
Significant portions of our deferred tax assets and liabilities | The tax effects of temporary differences that give rise to the significant portions of our deferred tax assets and liabilities are presented below:
|  | December 31, 2023 |  |  | December 31, 2022 |
|  | (as restated) |  |  | (as restated) |
Deferred tax assets: |  |  |  |  |  |
Net operating loss and other carryforwards |  | $ | 33,754,069 |  |  | $ | 24,388,433 |
PP&E |  |  | — |  |  |  | 2,661 |
Short-term debt |  |  | 1,556,454 |  |  |  | 174,267 |
Share-based payment liability |  |  | 327,757 |  |  |  | 294,404 |
Convertible debt |  |  | 8,110,222 |  |  |  | 6,325,677 |
Deferred tax assets |  |  | 43,748,501 |  |  |  | 31,185,442 |
Valuation allowance |  |  | (43,748,501 | ) |  |  | (31,185,442 | )
Deferred tax assets, net of valuation allowance |  |  | — |  |  |  | — |
Reconciliation of the federal income tax rate to the company's effective tax rate | Income tax benefit attributable to our loss before income taxes differs from the amounts computed using the applicable income tax rate as a result of the following factors:
|  | December 31, 2023 |  |  | December 31, 2022 |
|  | (as restated) |  |  | (as restated) |
Loss before income taxes |  | $ | (30,672,690 | ) |  | $ | (110,712,948 | )
Income tax benefit at statutory tax rates (a) |  |  | 7,208,082 |  |  |  | 21,035,460 |
Effect of: |  |  |  |  |  |
Non-deductible or non-taxable foreign currency exchange results |  |  | (88,195 | ) |  |  | (214,299 | )
International rate differences (b) |  |  | (9,845 | ) |  |  | 282,884 |
Non-deductible expenses |  |  | (2,050,426 | ) |  |  | (14,818,455 | )
Change in valuation allowance |  |  | (4,996,208 | ) |  |  | (6,246,825 | )
Income tax expense |  |  | 63,408 |  |  |  | 38,765 |
(a) The statutory or “expected” tax rates are the U.K. rates of 23.5% for 2023 and 19.0% for 2022 and 2021. The 2023 statutory rate represents that blended rate in effect for the year ended December 31, 2023 based on the 19.0% statutory rate that was in effect for the first quarter of 2023 and the 25.0% statutory rate that was in effect for the remainder of 2023. (b) Amounts reflect adjustments (either a benefit or expense) to the “expected” tax expense for statutory rates in jurisdictions in which we operate outside of the UK. |
Armada Acquisition Corp I [Member] |  |
Income Tax Disclosure [Line Items] |  |
Significant portions of our deferred tax assets and liabilities |  | The Company’s net deferred tax assets are as follows:
|  | September 30, |
|  | 2023 |  |  | 2022 |
Deferred tax asset |  |  |  |  |  |
Organizational costs/Startup expenses |  | $ | 504,667 |  |  | $ | 351,592 |
Stock-based compensation |  |  | 129,350 |  |  |  | 83,517 |
Total deferred tax asset |  |  | 634,017 |  |  |  | 435,209 |
Valuation allowance |  |  | (634,017 | ) |  |  | (435,209 | )
Deferred tax asset, net of allowance |  | $ | — |  |  | $ | — |
The income tax provision |  | The income tax provision consists of the following:
|  | September 30, |
|  | 2023 |  |  | 2022 |
Federal |  |  |  |  |  |
Current |  | $ | 615,284 |  |  | $ | 145,621 |
Deferred |  |  | (198,808 | ) |  |  | (336,741 | )
State |  |  |  |  |  |
Current |  |  | — |  |  |  | — |
Deferred |  |  | — |  |  |  | — |
Change in valuation allowance |  |  | 198,808 |  |  |  | 336,741 |
Income tax provision |  | $ | 615,284 |  |  | $ | 145,621 |
Reconciliation of the federal income tax rate to the company's effective tax rate |  | A reconciliation of the federal income tax rate to the Company’s effective tax rate at September 30, 2023 and 2022 are as follows:
|  | September 30, |
|  | 2023 |  |  | 2022 |
Statutory federal income tax rate |  |  | 21.00 | % |  |  | 21.00 | %
State taxes, net of federal tax benefit |  |  | 0.00 | % |  |  | 0.00 | %
Prior year true up |  |  | 0.99 | % |  |  | — |
Business combination expenses |  |  | 119.13 | % |  |  | (15.50 | )%
Change in valuation allowance |  |  | 67.40 | % |  |  | (9.70 | )%
Income tax provision |  |  | 207.49 | % |  |  | (4.25 | )%

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