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Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pay vs Performance Disclosure      
Pay vs Performance Disclosure, Table

Pay Versus Performance

As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 402(v) of Regulation S-K, the Company is providing the following table to show the relationship between executive compensation actually paid and certain financial performance of the Company.

Year(1)

  

Summary
Compensation
Table Total for
PEO Rahul
Mewawalla

  

Compensation
Actually Paid
to PEO Rahul
Mewawalla(2)

  

Summary
Compensation
Table Total
for PEO
James
Manning

  

Compensation
Actually Paid
to PEO
James
Manning(2)

  

Average
Summary
Compensation
Table Total
for Non-PEO
NEOs

  

Average
Compensation
Actually Paid
to Non-PEO
NEOs(3)

  

Value of
Initial
Fixed $100
Investment
Based
On Total
Shareholder
Return

  

Net Income

(a)

  

(b)

  

(c)

  

(b)

  

(c)

  

(d)

  

(e)

  

(f)

  

(g)

2024

  

20,263,055

  

2,604,152

  

—

  

—

  

1,143,883

  

621,223

  

12.52

  

(46,131,701

)

2023

  

11,636,361

  

20,546,062

  

5,649,940

  

1,991,440

  

563,194

  

769,361

  

48.27

  

(60,421,822

)

2022

  

—

  

—

  

2,015,433

  

990,788

  

1,249,946

  

559,012

  

20.81

  

(52,762,308

)

____________

(1)      The following table lists our PEO and non-PEO NEOs for each of years 2024, 2023 and 2022:

Year

  

PEO

  

Non-PEO NEOs

2024

  

Rahul Mewawalla

  

William Harrison and Kaliste Saloom

2023

  

Rahul Mewawalla and James Manning

  

William Harrison

2022

  

James Manning

  

Liam Wilson and Nicholas Hughes-Jones

(2)      In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to the PEO’s total compensation in the Summary Compensation Table for each year to determine the Compensation Actually Paid:

Year

  

PEO

  

Reported
Summary
Compensation
Table Total for
PEO

  

Reported
Value of
Equity
Awards(1)

  

Equity Award
Adjustments(2)

  

Compensation
Actually Paid to
PEO

2024

  

Rahul Mewawalla

  

20,263,055

  

(16,859,930

)

  

(798,973

)

  

2,604,152

2023

  

Rahul Mewawalla

  

11,636,361

  

(10,186,892

)

  

19,096,593

 

  

20,546,062

2023

  

James Manning

  

5,649,940

  

(3,658,500

)

  

—

 

  

1,991,440

2022

  

James Manning

  

2,015,433

  

(1,089,749

)

  

65,104

 

  

990,788

____________

(1)      The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table for the applicable year.

(2)     The equity award adjustments for each applicable year include the addition (or subtraction, as applicable) of the following: (i) the year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year; (ii) the amount of change as of the end of the applicable year (from the end of the prior fiscal year) in fair value of any awards granted in prior years that are outstanding and unvested as of the end of the applicable year; (iii) for awards that are granted and vest in same applicable year, the fair value as of the vesting date; (iv) for awards granted in prior years that vest in the applicable year, the amount equal to the change as of the vesting date (from the end of the prior fiscal year) in fair value; (v) for awards granted in prior years that are determined to fail to meet the applicable vesting conditions during the applicable year, a deduction for the amount equal to the fair value at the end of the prior fiscal year; and (vi) the dollar value of any dividends or other earnings paid on stock or option awards in the applicable year prior to the vesting date that

are not otherwise reflected in the fair value of such award or included in any other component of total compensation for the applicable year. The valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant. The amounts deducted or added in calculating the equity award adjustments are as follows:

Year

  

PEO

  

Year End
Fair Value
of Equity
Awards

  

Year Over
Year Change
in Fair
Value of
Outstanding
and
Unvested
Equity
Awards

  

Fair
Value
as of
Vesting
Date of
Equity
Awards
Granted
and
Vested
in the
Year

  

Change in
Fair Value
of Equity
Awards
Granted in
Prior Years
that Vested
in the Year

  

Fair Value
at the End
of the
Prior Year
of Equity
Awards
That
Failed
to Meet
Vesting
Conditions
in the Year

  

Value of
Dividends or
Other
Earnings
Paid on Stock
or Option
Awards Not
Otherwise
Reflected in
Fair Value
or Total
Compensation

  

Total Equity
Award
Adjustments

2024

  

Rahul Mewawalla

  

5,784,392

  

(4,147,500

)

  

5,113,628

  

(7,549,493

)

  

—

  

—

  

(798,973

)

2023

  

Rahul Mewawalla

  

14,466,093

  

—

 

  

—

  

—

 

  

—

  

4,630,500

  

19,096,593

 

2023

  

James Manning

  

—

  

—

 

  

—

  

—

 

  

—

  

—

  

—

 

2022

  

James Manning

  

65,104

  

—

 

  

—

  

—

 

  

—

  

—

  

65,104

 

(3)      In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to the non-PEO NEOs’ total compensation in the Summary Compensation Table for each year to determine the Compensation Actually Paid:

Year

  

Reported
Summary
Compensation
Table Total for
Non-PEO

  

Reported Value of
Equity Awards(1)

  

Equity Award
Adjustments(2)

  

Compensation
Actually Paid to
Non-PEO

2024

  

1,143,883

  

(856,863

)

  

334,203

 

  

621,223

2023

  

563,194

  

(362,473

)

  

568,640

 

  

769,361

2022

  

1,249,946

  

(669,733

)

  

(21,201

)

  

559,012

Year

  

Year End
Fair Value
of Equity
Awards

  

Year Over
Year Change
in Fair
Value of
Outstanding
and Unvested
Equity
Awards

  

Fair Value
as of
Vesting
Date of
Equity
Awards
Granted
and Vested
in the Year

  

Change in
Fair Value
of Equity
Awards
Granted in
Prior Years
that Vested
in the Year

  

Fair Value
at the End
of the
Prior Year
of Equity
Awards
That Failed
to Meet
Vesting
Conditions
in the Year

  

Value of
Dividends
or Other
Earnings Paid
on Stock or
Option Awards
Not Otherwise
Reflected in
Fair Value
or Total
Compensation

  

Total Equity
Award
Adjustments

2024

  

454,561

  

—

  

12,975

  

(133,333

)

  

—

  

—

  

334,203

 

2023

  

568,640

  

—

  

—

  

—

 

  

—

  

—

  

568,640

 

2022

  

235,947

  

—

  

—

  

(257,148

)

  

—

  

—

  

(21,201

)
   
Adjustment To PEO Compensation, Footnote In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to the PEO’s total compensation in the Summary Compensation Table for each year to determine the Compensation Actually Paid:

Year

  

PEO

  

Reported
Summary
Compensation
Table Total for
PEO

  

Reported
Value of
Equity
Awards(1)

  

Equity Award
Adjustments(2)

  

Compensation
Actually Paid to
PEO

2024

  

Rahul Mewawalla

  

20,263,055

  

(16,859,930

)

  

(798,973

)

  

2,604,152

2023

  

Rahul Mewawalla

  

11,636,361

  

(10,186,892

)

  

19,096,593

 

  

20,546,062

2023

  

James Manning

  

5,649,940

  

(3,658,500

)

  

—

 

  

1,991,440

2022

  

James Manning

  

2,015,433

  

(1,089,749

)

  

65,104

 

  

990,788

____________

(1)      The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table for the applicable year.

(2)     The equity award adjustments for each applicable year include the addition (or subtraction, as applicable) of the following: (i) the year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year; (ii) the amount of change as of the end of the applicable year (from the end of the prior fiscal year) in fair value of any awards granted in prior years that are outstanding and unvested as of the end of the applicable year; (iii) for awards that are granted and vest in same applicable year, the fair value as of the vesting date; (iv) for awards granted in prior years that vest in the applicable year, the amount equal to the change as of the vesting date (from the end of the prior fiscal year) in fair value; (v) for awards granted in prior years that are determined to fail to meet the applicable vesting conditions during the applicable year, a deduction for the amount equal to the fair value at the end of the prior fiscal year; and (vi) the dollar value of any dividends or other earnings paid on stock or option awards in the applicable year prior to the vesting date that

are not otherwise reflected in the fair value of such award or included in any other component of total compensation for the applicable year. The valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant. The amounts deducted or added in calculating the equity award adjustments are as follows:

Year

  

PEO

  

Year End
Fair Value
of Equity
Awards

  

Year Over
Year Change
in Fair
Value of
Outstanding
and
Unvested
Equity
Awards

  

Fair
Value
as of
Vesting
Date of
Equity
Awards
Granted
and
Vested
in the
Year

  

Change in
Fair Value
of Equity
Awards
Granted in
Prior Years
that Vested
in the Year

  

Fair Value
at the End
of the
Prior Year
of Equity
Awards
That
Failed
to Meet
Vesting
Conditions
in the Year

  

Value of
Dividends or
Other
Earnings
Paid on Stock
or Option
Awards Not
Otherwise
Reflected in
Fair Value
or Total
Compensation

  

Total Equity
Award
Adjustments

2024

  

Rahul Mewawalla

  

5,784,392

  

(4,147,500

)

  

5,113,628

  

(7,549,493

)

  

—

  

—

  

(798,973

)

2023

  

Rahul Mewawalla

  

14,466,093

  

—

 

  

—

  

—

 

  

—

  

4,630,500

  

19,096,593

 

2023

  

James Manning

  

—

  

—

 

  

—

  

—

 

  

—

  

—

  

—

 

2022

  

James Manning

  

65,104

  

—

 

  

—

  

—

 

  

—

  

—

  

65,104

 
   
Non-PEO NEO Average Total Compensation Amount [1] $ 1,143,883 $ 563,194 $ 1,249,946
Non-PEO NEO Average Compensation Actually Paid Amount [1],[2] $ 621,223 769,361 559,012
Adjustment to Non-PEO NEO Compensation Footnote In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to the non-PEO NEOs’ total compensation in the Summary Compensation Table for each year to determine the Compensation Actually Paid:

Year

  

Reported
Summary
Compensation
Table Total for
Non-PEO

  

Reported Value of
Equity Awards(1)

  

Equity Award
Adjustments(2)

  

Compensation
Actually Paid to
Non-PEO

2024

  

1,143,883

  

(856,863

)

  

334,203

 

  

621,223

2023

  

563,194

  

(362,473

)

  

568,640

 

  

769,361

2022

  

1,249,946

  

(669,733

)

  

(21,201

)

  

559,012

Year

  

Year End
Fair Value
of Equity
Awards

  

Year Over
Year Change
in Fair
Value of
Outstanding
and Unvested
Equity
Awards

  

Fair Value
as of
Vesting
Date of
Equity
Awards
Granted
and Vested
in the Year

  

Change in
Fair Value
of Equity
Awards
Granted in
Prior Years
that Vested
in the Year

  

Fair Value
at the End
of the
Prior Year
of Equity
Awards
That Failed
to Meet
Vesting
Conditions
in the Year

  

Value of
Dividends
or Other
Earnings Paid
on Stock or
Option Awards
Not Otherwise
Reflected in
Fair Value
or Total
Compensation

  

Total Equity
Award
Adjustments

2024

  

454,561

  

—

  

12,975

  

(133,333

)

  

—

  

—

  

334,203

 

2023

  

568,640

  

—

  

—

  

—

 

  

—

  

—

  

568,640

 

2022

  

235,947

  

—

  

—

  

(257,148

)

  

—

  

—

  

(21,201

)
   
Total Shareholder Return Amount [1] $ 12.52 48.27 20.81
Net Income (Loss) [1] $ (46,131,701) $ (60,421,822) $ (52,762,308)
PEO Name Rahul Mewawalla Rahul Mewawalla and James Manning James Manning
Equity Awards Adjustments      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ 334,203 $ 568,640 $ (21,201)
Reported Value of Equity Awards [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount [3] (856,863) (362,473) (669,733)
Year End Fair Value of Equity Awards [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 454,561 568,640 235,947
Year Over Year Change in Fair Value of Outstanding and Unvested Equity Awards [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount
Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 12,975
Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (133,333) (257,148)
Fair Value at the End of the Prior Year of Equity Awards That Failed to Meet Vesting Conditions in the Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount
Value of Dividends or Other Earnings Paid on Stock or Option Awards Not Otherwise Reflected in Fair Value or Total Compensation [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount
Rahul Mewawalla [Member]      
Pay vs Performance Disclosure      
PEO Total Compensation Amount [1] 20,263,055 11,636,361
PEO Actually Paid Compensation Amount [1],[4] 2,604,152 20,546,062
Rahul Mewawalla [Member] | Equity Awards Adjustments      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount [5] (798,973) 19,096,593  
Rahul Mewawalla [Member] | Reported Value of Equity Awards [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount [3] (16,859,930) (10,186,892)  
Rahul Mewawalla [Member] | Year End Fair Value of Equity Awards [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 5,784,392 14,466,093  
Rahul Mewawalla [Member] | Year Over Year Change in Fair Value of Outstanding and Unvested Equity Awards [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (4,147,500)  
Rahul Mewawalla [Member] | Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 5,113,628  
Rahul Mewawalla [Member] | Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (7,549,493)  
Rahul Mewawalla [Member] | Fair Value at the End of the Prior Year of Equity Awards That Failed to Meet Vesting Conditions in the Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount  
Rahul Mewawalla [Member] | Value of Dividends or Other Earnings Paid on Stock or Option Awards Not Otherwise Reflected in Fair Value or Total Compensation [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 4,630,500  
James Manning [Member]      
Pay vs Performance Disclosure      
PEO Total Compensation Amount [1] 5,649,940 2,015,433
PEO Actually Paid Compensation Amount [1],[4] 1,991,440 990,788
James Manning [Member] | Equity Awards Adjustments      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount [5]   65,104
James Manning [Member] | Reported Value of Equity Awards [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount [3]   (3,658,500) (1,089,749)
James Manning [Member] | Year End Fair Value of Equity Awards [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount   65,104
James Manning [Member] | Year Over Year Change in Fair Value of Outstanding and Unvested Equity Awards [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount  
James Manning [Member] | Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount  
James Manning [Member] | Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount  
James Manning [Member] | Fair Value at the End of the Prior Year of Equity Awards That Failed to Meet Vesting Conditions in the Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount  
James Manning [Member] | Value of Dividends or Other Earnings Paid on Stock or Option Awards Not Otherwise Reflected in Fair Value or Total Compensation [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount  
[1] The following table lists our PEO and non-PEO NEOs for each of years 2024, 2023 and 2022:

Year

  

PEO

  

Non-PEO NEOs

2024

  

Rahul Mewawalla

  

William Harrison and Kaliste Saloom

2023

  

Rahul Mewawalla and James Manning

  

William Harrison

2022

  

James Manning

  

Liam Wilson and Nicholas Hughes-Jones
[2] In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to the non-PEO NEOs’ total compensation in the Summary Compensation Table for each year to determine the Compensation Actually Paid:

Year

  

Reported
Summary
Compensation
Table Total for
Non-PEO

  

Reported Value of
Equity Awards(1)

  

Equity Award
Adjustments(2)

  

Compensation
Actually Paid to
Non-PEO

2024

  

1,143,883

  

(856,863

)

  

334,203

 

  

621,223

2023

  

563,194

  

(362,473

)

  

568,640

 

  

769,361

2022

  

1,249,946

  

(669,733

)

  

(21,201

)

  

559,012

Year

  

Year End
Fair Value
of Equity
Awards

  

Year Over
Year Change
in Fair
Value of
Outstanding
and Unvested
Equity
Awards

  

Fair Value
as of
Vesting
Date of
Equity
Awards
Granted
and Vested
in the Year

  

Change in
Fair Value
of Equity
Awards
Granted in
Prior Years
that Vested
in the Year

  

Fair Value
at the End
of the
Prior Year
of Equity
Awards
That Failed
to Meet
Vesting
Conditions
in the Year

  

Value of
Dividends
or Other
Earnings Paid
on Stock or
Option Awards
Not Otherwise
Reflected in
Fair Value
or Total
Compensation

  

Total Equity
Award
Adjustments

2024

  

454,561

  

—

  

12,975

  

(133,333

)

  

—

  

—

  

334,203

 

2023

  

568,640

  

—

  

—

  

—

 

  

—

  

—

  

568,640

 

2022

  

235,947

  

—

  

—

  

(257,148

)

  

—

  

—

  

(21,201

)
[3] The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table for the applicable year.
[4] In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to the PEO’s total compensation in the Summary Compensation Table for each year to determine the Compensation Actually Paid:

Year

  

PEO

  

Reported
Summary
Compensation
Table Total for
PEO

  

Reported
Value of
Equity
Awards(1)

  

Equity Award
Adjustments(2)

  

Compensation
Actually Paid to
PEO

2024

  

Rahul Mewawalla

  

20,263,055

  

(16,859,930

)

  

(798,973

)

  

2,604,152

2023

  

Rahul Mewawalla

  

11,636,361

  

(10,186,892

)

  

19,096,593

 

  

20,546,062

2023

  

James Manning

  

5,649,940

  

(3,658,500

)

  

—

 

  

1,991,440

2022

  

James Manning

  

2,015,433

  

(1,089,749

)

  

65,104

 

  

990,788
[5] The equity award adjustments for each applicable year include the addition (or subtraction, as applicable) of the following: (i) the year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year; (ii) the amount of change as of the end of the applicable year (from the end of the prior fiscal year) in fair value of any awards granted in prior years that are outstanding and unvested as of the end of the applicable year; (iii) for awards that are granted and vest in same applicable year, the fair value as of the vesting date; (iv) for awards granted in prior years that vest in the applicable year, the amount equal to the change as of the vesting date (from the end of the prior fiscal year) in fair value; (v) for awards granted in prior years that are determined to fail to meet the applicable vesting conditions during the applicable year, a deduction for the amount equal to the fair value at the end of the prior fiscal year; and (vi) the dollar value of any dividends or other earnings paid on stock or option awards in the applicable year prior to the vesting date that

are not otherwise reflected in the fair value of such award or included in any other component of total compensation for the applicable year. The valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant. The amounts deducted or added in calculating the equity award adjustments are as follows:

Year

  

PEO

  

Year End
Fair Value
of Equity
Awards

  

Year Over
Year Change
in Fair
Value of
Outstanding
and
Unvested
Equity
Awards

  

Fair
Value
as of
Vesting
Date of
Equity
Awards
Granted
and
Vested
in the
Year

  

Change in
Fair Value
of Equity
Awards
Granted in
Prior Years
that Vested
in the Year

  

Fair Value
at the End
of the
Prior Year
of Equity
Awards
That
Failed
to Meet
Vesting
Conditions
in the Year

  

Value of
Dividends or
Other
Earnings
Paid on Stock
or Option
Awards Not
Otherwise
Reflected in
Fair Value
or Total
Compensation

  

Total Equity
Award
Adjustments

2024

  

Rahul Mewawalla

  

5,784,392

  

(4,147,500

)

  

5,113,628

  

(7,549,493

)

  

—

  

—

  

(798,973

)

2023

  

Rahul Mewawalla

  

14,466,093

  

—

 

  

—

  

—

 

  

—

  

4,630,500

  

19,096,593

 

2023

  

James Manning

  

—

  

—

 

  

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2022

  

James Manning

  

65,104

  

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65,104