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Summary of Significant Accounting Policies (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2022

Dec. 31, 2021

Summary of Separation-related adjustments

Separation-related adjustments

		As of December 31, 2021				Separation- Related Adjustment				As of January 1, 2022
Assets
Current:
Cash and equivalents		$	14,376,523			$	(8	)		$	14,376,515
Related party receivable			220,000				—				220,000
Other current assets			21,140				(8,567	)			12,573
Total current assets			14,617,663				(8,575	)			14,609,088
Capitalized software, net			699,753				(699,753	)			—
Total assets			15,317,416				(708,328	)			14,609,088
Liabilities and Net Parent Equity
Current:
Accounts payable			877,641				(718,233	)			159,408
Derivative financial instruments			32,226				(32,226	)			—
Other payables			616,156				1,015,672				1,631,828
Total current liabilities			1,526,023				265,213				1,791,236
Other noncurrent payables			702,921				(297,921	)			405,000
			2,228,944				(32,708	)			2,196,236
Net parent equity
Net parent investment			13,120,698				(707,846	)			12,412,852
Accumulated other comprehensive income/ (loss)			(32,226	)			32,226				—
Total net parent equity			13,088,472				(675,620	)			12,412,852
Total liabilities and net parent equity		$	15,317,416			$	(708,328	)		$	14,609,088

Summary of Reconciliation of Operating Profit (Loss) from Segments to Consolidated

		Three Months Ended June 30,								Six Months Ended June 30,
Segments		2022				2021				2022				2021
eVTOL
Research and development expenses		$	(7,599,457	)		$	(1,680,380	)		$	(15,303,608	)		$	(3,391,454	)
UATM
Research and development expenses			(1,365,309	)			(258,432	)			(2,775,845	)			(439,009	)
Service and Support
Research and development expenses			(870,970	)			—				(870,970	)			—
Total allocated expenses			(9,835,736	)			(1,938,812	)			(18,950,423	)			(3,830,463	)
Unallocated amounts
General and administrative			(3,571,814	)			(429,467	)			(4,380,580	)			(757,410	)
Selling(i)			(2,903,616	)			—				(2,903,616	)			—
Other expenses			(37,123	)			—				(37,123	)			—
Loss from operations		$	(16,348,289	)		$	(2,368,279	)		$	(26,271,742	)		$	(4,587,873	)

The CODM receives information related to the operating results based on the directly attributable cost by each R&D project. As the UAM Business was operated within the Embraer Corporate infrastructure, the indirect costs are not included in the information analyzed by the CODM. Assets information by segment is not presented to the CODM. The information provided to the CODM are as follows:

		Year Ended December 31,
Segments R&D expenses		2021				2020				2019
eVTOL		$	(11,207,794	)		$	(7,583,456	)		$	(5,255,068	)
UATM			(2,071,986	)			(774,587	)			(692,226	)
Total segments expenses			(13,279,780	)			(8,358,043	)			(5,947,294	)
Corporate/ Unallocated amounts
Selling, general and administrative			(2,509,859	)			(1,233,876	)			(1,739,815	)
Loss from operations			(15,789,639	)			(9,591,919	)			(7,687,109	)
Foreign currency gain/ (loss)			(77,147	)			(34,023	)			1,590
Loss before income taxes		$	(15,866,786	)		$	(9,625,942	)		$	(7,685,519	)

Schedule of stock options, valuation assumptions

Input		May 9, 2022
Risk-free interest rate			1.29	%
Expected term (years)			2
Expected volatility			15.86	%
Exercise price		$	0.0
Dividend yield			0.0	%
Expected stock price at De-SPAC		$	8.66
Probability-weighted average of additional shares to be issued for the forward contract		$	N/A

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