XML 43 R35.htm IDEA: XBRL DOCUMENT
v3.22.4

Summary of Significant Accounting Policies (Tables) | 9 Months Ended | 12 Months Ended
--- | --- | ---
Sep. 30, 2022 | Dec. 31, 2021
Summary of 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 receivables |  |  | 220,000 |  |  |  | — |  |  |  | 220,000 |
Other current assets |  |  | 6,274,397 |  |  |  | (8,567 | ) |  |  | 6,265,830 |
Total current assets |  |  | 20,870,920 |  |  |  | (8,575 | ) |  |  | 20,862,345 |
Capitalized software, net |  |  | 699,753 |  |  |  | (699,753 | ) |  |  | — |
Total assets |  | $ | 21,570,673 |  |  | $ | (708,328 | ) |  | $ | 20,862,345 |
Liabilities and Net Parent Equity |  |  |  |  |  |  |  |  |  |  |  |
Current: |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable |  |  | 877,641 |  |  |  | (718,232 | ) |  |  | 159,409 |
Related party payables |  |  | 8,642,340 |  |  |  | 1,110,032 |  |  |  | 9,752,372 |
Derivative financial instruments |  |  | 32,226 |  |  |  | (32,226 | ) |  |  | — |
Other payables |  |  | 616,156 |  |  |  | (94,361 | ) |  |  | 521,795 |
Total current liabilities |  |  | 10,168,363 |  |  |  | 265,213 |  |  |  | 10,433,576 |
Other noncurrent payables |  |  | 702,921 |  |  |  | (297,921 | ) |  |  | 405,000 |
|  |  | 10,871,284 |  |  |  | (32,708 | ) |  |  | 10,838,576 |
|  | As of December 31, 2021 |  |  | Separation- Related Adjustment |  |  | As of January 1, 2022 |
Net parent equity |  |  |  |  |  |  |  |  |  |  |  |
Net parent investment |  |  | 10,731,615 |  |  |  | (707,846 | ) |  |  | 10,023,769 |
Accumulated other comprehensive income/ (loss) |  |  | (32,226 | ) |  |  | 32,226 |  |  |  | — |
Total net parent equity |  |  | 10,699,389 |  |  |  | (675,620 | ) |  |  | 10,023,769 |
Total liabilities and net parent equity |  | $ | 21,570,673 |  |  | $ | (708,328 | ) |  | $ | 20,862,345 |
Schedule of Restricted Stock Units ("RSUs"), valuation assumptions |
|  | May 9, 2022 |
|  | (as restated) |
Share Price (SO) - US$ |  | $ | 11.32 |
Maturity Date |  |  | 05/09/27 |
Time (T) - Years |  |  | 4.98 |
Strike Price (X) |  | $ | — |
Risk-free Rate (r) |  |  | 2.95 | %
Volatility ( s ) |  |  | 47.17 | %
Dividend Yield (q) |  |  | 0.00 | %
RSU Value (US$) |  | $ | 17.01 |
Summary of Reconciliation of Operating Profit (Loss) from Segments to Consolidated |
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
Segments |  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
|  |  |  |  | (as restated) |  |  |  |  |  | (as restated) |
eVTOL |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Research and development expenses |  | $ | (12,297,904 | ) |  | $ | (2,791,242 | ) |  | $ | (28,183,054 | ) |  | $ | (6,182,696 | )
UATM |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Research and development expenses |  |  | (1,524,028 | ) |  |  | (14,713 | ) |  |  | (4,299,873 | ) |  |  | (453,722 | )
Service and Support |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Research and development expenses |  |  | (476,993 | ) |  |  | — |  |  |  | (1,347,963 | ) |  |  | — |
Total allocated expenses |  |  | (14,298,925 | ) |  |  | (2,805,955 | ) |  |  | (33,830,890 | ) |  |  | (6,636,418 | )
Unallocated amounts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Selling, general and administrative/New Warrants expenses |  |  | (24,269,275 | ) |  |  | (939,106 | ) |  |  | (128,668,241 | ) |  |  | (3,265,612 | )
Loss from operations |  | $ | (38,568,200 | ) |  | $ | (3,745,061 | ) |  | $ | (162,499,131 | ) |  | $ | (9,902,030 | )
| The information provided to the CODM are as fol lows:
|  | Year Ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
|  | As Restated |  |  |  |  |  |  |
Segments R&D expenses |  |  |  |  |  |  |  |  |  |  |  |
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 |  |  | (4,898,942 | ) |  |  | (1,233,876 | ) |  |  | (1,739,815 | )
Loss from operations |  |  | (18,178,722 | ) |  |  | (9,591,919 | ) |  |  | (7,687,109 | )
Financial and foreign exchange gain, net |  |  | (77,147 | ) |  |  | (34,023 | ) |  |  | 1,590 |
Loss before income taxes |  | $ | (18,255,869 | ) |  | $ | (9,625,942 | ) |  | $ | (7,685,519 | )

X
- Definition Schedule of share based payment award restricted stock units valuation assumptions. + References No definition available. + Details
Name: | evex_ScheduleOfShareBasedPaymentAwardRestrictedStockUnitsValuationAssumptionsTableTextBlock
Namespace Prefix: | evex_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
Name: | us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22663-107794 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 8 -URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22658-107794 + Details
Name: | us-gaap_ScheduleOfErrorCorrectionsAndPriorPeriodAdjustmentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration