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RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Tables)

4 Months Ended

9 Months Ended

Dec. 31, 2020

Sep. 30, 2021

Globis Acquisition Corp [Member]

Restructuring Cost and Reserve [Line Items]

SCHEDULE OF ERROR CORRECTIONS AND PRIOR PERIOD ADJUSTMENTS

SCHEDULE OF ERROR CORRECTIONS AND PRIOR PERIOD ADJUSTMENTS 

		As Previously Reported				Adjustment				As Restated
Balance Sheet as of December 15, 2020 (Audited)
Common stock subject to possible redemption		$	111,652,086			$	4,497,914			$	116,150,000
Common stock		$	401			$	(45	)		$	356
Additional paid-in capital		$	5,007,172			$	(4,497,869	)		$	509,303
Accumulated deficit		$	(7,571	)		$	—			$	(7,571	)
Total Stockholders’ Equity		$	5,000,002			$	(4,497,914	)		$	502,088
Number of shares of common stock subject to possible redemption			11,054,662				445,338				11,500,000
Balance Sheet as of December 31, 2020 (Audited)
Common stock subject to possible redemption		$	111,569,772			$	4,580,228			$	116,150,000
Common stock		$	400			$	(45	)		$	355
Additional paid-in capital		$	5,089,487			$	(4,580,183	)		$	509,304
Accumulated deficit		$	(89,886	)		$	—			$	(89,886	)
Total Stockholders’ Equity		$	5,000,001			$	(4,580,228	)		$	419,773
Number of shares of common stock subject to possible redemption			11,046,512				453,488				11,500,000
Statement of Cash Flows for the Period from August 21, 2020 (Inception) through December 31, 2020 (Audited)
Initial classification of common stock subject to possible redemption		$	111,652,086			$	4,497,914			$	116,150,000
Change in value of Common Stock subject to possible redemption		$	(82,314	)		$	82,314			$	—
Condensed Statement of Changes in Stockholders’ Equity for the Period Ended December 31, 2020 (Audited)
Sale of 11,500,000 Units, net of underwriter discounts and offering expenses		$	112,483,159			$	(112,483,159	)		$	—
Initial value of Common Stock subject to redemption		$	111,569,772			$	(111,569,772	)		$	—
Redemption adjustment for Common Stock to redemption amount		$	—			$	(3,666,841	)		$	(3,666,841	)
Total Shareholders’ Equity		$	5,000,001			$	(4,580,228	)		$	419,773
Statement of Operations for the Period from August 21, 2020 (Inception) Through December 31, 2020 (Audited)
Basic and diluted weighted average shares outstanding, common stock subject to possible redemption			11,054,662				(9,534,001	)			1,520,661
Basic and diluted net income per share, common stock subject to possible redemption		$	—			$	(0.02	)		$	(0.02	)
Basic and diluted weighted average shares outstanding, Non-redeemable common stock			2,717,799				(58,887	)			2,658,912
Basic and diluted net loss (income) per share, Non-redeemable common stock		$	(0.03	)		$	0.01			$	(0.02	)

The impact of the restatement on the Company’s historical financial statements is reflected in the following tables:

 SCHEDULE OF ERROR CORRECTIONS AND PRIOR PERIOD ADJUSTMENTS

		As Previously Reported				Adjustment				As Restated
Condensed Balance Sheet as of March 31, 2021 (unaudited)
Common stock subject to possible redemption		$	111,205,807			$	4,944,193			$	116,150,000
Common stock		$	404			$	(49	)		$	355
Additional paid-in capital		$	5,453,448			$	(4,944,144	)		$	509,304
Accumulated deficit		$	(453,845	)		$	—			$	(453,845	)
Total Stockholders’ Equity (Deficit)		$	5,000,007			$	(4,944,193	)		$	55,814
Number of shares of common stock subject to possible redemption			11,010,476				(489,524	)			11,500,000

Condensed Balance Sheet as of June 30, 2021 (unaudited)
Common stock subject to possible redemption		$	110,858,319			$	5,291,681			$	116,150,000
Common stock		$	407			$	(52	)		$	355
Additional paid-in capital		$	5,800,933			$	(5,291,629	)		$	509,304
Accumulated deficit		$	(801,336	)		$	—			$	(801,336	)
Total Stockholders’ Equity (Deficit)		$	5,000,004			$	(5,291,681	)		$	(291,677	)
Number of shares of common stock subject to possible redemption			10,976,071				523,929				11,500,000
Condensed Statement of Operations for the Three Months Ended March 31, 2021 (unaudited)
Basic and diluted weighted average shares outstanding, common stock subject to possible redemption			11,046,512				453,488				11,500,000
Basic and diluted net income (loss) per share, common stock subject to possible redemption		$	—			$	(0.02	)		$	(0.02	)
Basic and diluted weighted average shares outstanding, Non-redeemable common stock			4,004,321				(453,488	)			3,550,833
Basic and diluted net income (loss) per share, Non-redeemable common stock		$	(0.09	)		$	0.07			$	(0.02	)
Statement of Operations for the Three Months Ended June 30, 2021 (unaudited)
Basic and diluted weighted average shares outstanding, common stock subject to possible redemption			11,010,476				489,524				11,500,000
Basic and diluted net income (loss) per share, common stock subject to possible redemption		$	—			$	(0.02	)		$	(0.02	)
Basic and diluted weighted average shares outstanding, Non-redeemable common stock			4,040,357				(489,524	)			3,550,833
Basic and diluted net income (loss) per share, Non-redeemable common stock		$	(0.09	)		$	0.07			$	(0.02	)
Statement of Operations for the Six Months Ended June 30, 2021 (unaudited)
Basic and diluted weighted average shares outstanding, common stock subject to possible redemption			11,028,394				471,606				11,500,000
Basic and diluted net income (loss) per share, common stock subject to possible redemption		$	—			$	(0.05	)		$	(0.05	)
Basic and diluted weighted average shares outstanding, Non-redeemable common stock			4,022,439				(471,606	)			3,550,833
Basic and diluted net income (loss) per share, Non-redeemable common stock		$	(0.18	)		$	0.13			$	(0.05	)
Condensed Statement of Changes in Stockholders’ Equity (Deficit) for the Three Months Ended March 31, 2021 (unaudited)			As Previously Reported				Adjustment				As Restated
Change in value of common stock subject to possible redemption		$	363,065			$	(363,065	)		$	—
Total Stockholders’ Equity		$	5,000,007				(4,944,193	)		$	55,814
Condensed Statement of Changes in Stockholders’ Equity (Deficit) for the Three Months Ended June 30, 2021 (unaudited)
Change in value of common stock subject to possible redemption		$	347,488			$	(347,488	)		$	—
Total Stockholders’ Equity (Deficit)		$	5,000,004			$	(5,291,681	)		$	(291,677	)
Condensed Statement of Cash Flows for the three months ended March 31, 2021 (unaudited)
Non-Cash investing and financing activities:
Change in value of common stock subject to possible redemption		$	(363,965	)		$	363,965			$	—
Condensed Statement of Cash Flows for the six months ended June 30, 2021 (unaudited)
Non-Cash investing and financing activities:
Change in value of common stock subject to possible redemption		$	(711,453	)		$	711,453			$	—

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