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Variable Interest Entity (Tables)
3 Months Ended
Mar. 31, 2024
Variable Interest Entity [Abstract]  
Schedule of Fair Value of the Assets and Non-Controlling Interest The following table presents the fair value of the assets and non-controlling interest of the VIE at the date the Company was determined to be the primary beneficiary, or March 4, 2024. Any potential adjustments made could be material in relation to the values presented in the table below.

In-process research and development

 

$

365,300,000

 

Goodwill

 

 

247,233,000

 

Non-controlling interests

 

$

(612,533,000

)

Schedule of Carrying Amounts and Classifications of Airjoule, LLC Assets and Liabilities

The table below reflects the preliminary carrying amounts and classifications of AirJoule, LLC assets and liabilities which are included in the condensed consolidated balance sheet as of March 31, 2024 and are subject to change.

 

As of
March 31,
2024

Assets:

 

 

 

Current assets:

 

 

 

Cash

 

$

10,011,901

Total current assets

 

 

10,011,901

Property and equipment, net

 

 

1,390

Goodwill

 

 

247,233,000

In-process research and development

 

 

365,300,000

Total assets

 

$

622,546,291

Liabilities:

 

 

 

Current liabilities:

 

 

 

Accounts payable

 

$

775

Accrued expenses and other liabilities

 

 

65,279

Total current liabilities

 

 

66,054

Total liabilities

 

$

66,054

Schedule of Consolidated VIE and Provides a Roll Forward of the Noncontrolling Interests

The Company recognizes non-controlling interests related to its consolidated VIE and provides a roll forward of the non-controlling interests balance, as follows:

 

Total

Balance as of March 4, 2023 (initial recognition date)

 

$

612,533,000

 

Net loss attributable to non-controlling interests

 

 

(26,382

)

Balance as of March 31, 2024

 

$

612,506,618