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Income Taxes (Tables) | 9 Months Ended
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Sep. 30, 2022
Income Tax Disclosure [Abstract] |
Income tax provision |
| For the Period from January 28, 2021 (inception) through December 31, 2021
Current |
Federal | $ | — |
State | — |
Deferred |
Federal | (290,181) |
State |
Valuation allowance | 290,181 |
Income tax provision | $ | — |
The components of income tax expense were as follows (in thousands):
| Year Ended December 31,
| 2021 |  | 2020
Current: |  |  |
United States | $ | — |  |  | $ | — |
New Zealand | $ | — |  |  | $ | — |
Foreign | $ | — |  |  | $ | — |
Total | $ | — |  |  | $ | — |
Deferred: |  |  |
United States | — |  |  | — |
New Zealand | — |  |  | — |
Foreign | — |  |  | — |
Total | — |  |  | — |
Summary of significant components of the Company's deferred tax assets |
| December 31, 2021
Deferred tax assets: |
Start-up/Organization costs | $ | 210,307 |
Net operating loss carryforwards | 79,874 |
Total deferred tax assets | 290,181 |
Valuation allowance | (290,181) |
Deferred tax asset, net of allowance | $ | — |
Significant components of deferred tax assets and liabilities as of December 31, 2021 and 2020, were as follows (in thousands):
|  | Year Ended December 31,
|  | 2021 |  | 2020
Deferred tax assets: |  | as Restated |  | as Restated
Net operating loss and credit carryforwards |  | $ | 107,979 |  |  | $ | 104,301 |
Operating lease liability |  | 1,878 |  |  | 2,394 |
Accrued bonus |  | 981 |  |  | 850 |
Accrued expenses |  | 1,566 |  |  | 429 |
Deferred revenue |  | 309 |  |  | 1,018 |
Equity method investment |  | 1,243 |  |  | 1,031 |
Other |  | 925 |  |  | 394 |
|  | $ | 114,881 |  |  | $ | 110,417 |
Valuation allowance |  | (113,276) |  |  | (108,300) |
Net deferred tax asset |  | $ | 1,605 |  |  | $ | 2,117 |
Deferred tax liabilities: |  |  |  |
Operating lease asset |  | (1,429) |  |  | (1,941) |
Other |  | (176) |  |  | (176) |
Total deferred tax liabilities |  | $ | (1,605) |  |  | $ | (2,117) |
Net deferred income tax assets and liabilities: |  | $ | — |  |  | $ | — |
Schedule of reconciliation of the total income tax provision tax rate to the statutory federal income tax rate |
| For the Period from January 28, 2021 (inception) through December 31, 2021
Statutory federal income tax rate | 21.0 | %
Change in fair value of derivative warrant liabilities | (855.9) | %
Offering costs allocated to derivative warrant liabilities | 214.0 | %
Change in valuation allowance | 620.9 | %
Income tax expense | 0.0 | %
The following table is a reconciliation of income taxes computed at the statutory federal income tax rate (21.0% federal income tax rate in the United States for 2021 and 28.0% federal income tax rate in the New Zealand for 2020, respectively) to the income tax expense (benefit) reflected in the consolidated statement of operations and comprehensive loss (in thousands, except percentages):
| Year Ended December 31,
| 2021 |  | 2020
| as Restated |  | as Restated
Income tax (benefit) at the statutory federal income tax rate | $ | (9,805) |  |  | 21.0 | % |  | $ | (10,560) |  |  | 28.0 | %
Foreign tax rate differential | (605) |  |  | 1.3 | % |  | 1,180 |  |  | (3.2) | %
State and local taxes | (4,068) |  |  | 8.7 | % |  | (2,429) |  |  | 6.4 | %
Effects of impairment | — |  |  | — | % |  | 10,281 |  |  | (27.9) | %
Foreign exchange differences | (143) |  |  | 0.3 | % |  | (5,892) |  |  | 16.0 | %
Stock-based compensation | 501 |  |  | (1.1) | % |  | 670 |  |  | (1.8) | %
Interest income on receivable | 882 |  |  | (1.9) | % |  | 2,120 |  |  | (5.7) | %
Equity method investment | (443) |  |  | 0.9 | % |  | (679) |  |  | 1.8 | %
Non-deductible legal costs | 1,291 |  |  | (2.8) | % |  | — |  |  | — | %
Gain from redomiciliation of intellectual property | 4,890 |  |  | (10.5) | % |  | — |  |  | — | %
Valuation allowance | 7,958 |  |  | (17.0) | % |  | 5,505 |  |  | (14.1) | %
PPP loan forgiveness | (644) |  |  | 1.4 | % |  | $ | — |  |  | — | %
Other | 186 |  |  | (0.3) | % |  | (196) |  |  | 0.5 | %
Total income tax benefit | $ | — |  |  | — | % |  | $ | — |  |  | — | %

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