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Note 12 - Subsequent Events | 9 Months Ended
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Sep. 30, 2023
Notes to Financial Statements |
Subsequent Events [Text Block] | 12. Subsequent Events On October 6, 2023, the Company received the $55.2 million due to it from the sale of Investment Tax Credits. On October 16, 2023, the Company paid $50.2 million of these funds to Third Eye Capital as payments against existing debt obligations, including $8.6 million repayment for the Revolving Credit facility under the July 2012 Note Purchase Agreement, $11.6 million repayment on the GAFI Credit Agreement, and $30.0 million repayment on the Series A Preferred Unit Purchase Agreement. In conjunction with the payment, the Company’s available credit on the GAFI loan has been raised to $37.5 million. On November 8, 2023, ABGL entered into a Fourth Waiver and Amendment to Series A Preferred Unit Purchase Agreement (“PUPA Fourth Amendment") with Third Eye Capital Corporation and Protair-X Americas, Inc. providing for: (i) extending the deadline to redeem Series A Preferred Units from August 31, 2023 to December 31, 2023 and (ii) setting the price to redeem all outstanding Series A Preferred Units at $102.5 million plus a closing fee of $5,500,000, payable to or at the direction of Protair-X Americas, Inc. The PUPA Fourth Amendment further provides that if ABGL does not redeem the Series A Preferred Units by December 31, 2023, ABGL will enter into a credit agreement with Third Eye Capital Corporation and Protair-X Americas, Inc. effective as of January 1, 2024, in substantially the form attached to the PUPA Fourth Amendment. The PUPA Fourth Amendment is attached to this Form 10-Q as Exhibit 10.1. We will evaluate the terms of the PUPA Fourth Amendment in accordance with ASC 470.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483399/855-10-50-2 + Details
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