0001603978-24-000061 | 10-Q | XBRL Viewer | Aquabounty Technologies INC

Print Document

Going Concern Uncertainty (Narrative) (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Going Concern Uncertainty [Abstract]
Cash and cash equivalents	$ 728,339	$ 9,203,869	$ 43,842,280	$ 102,638,557

Income Taxes	6 Months Ended
Jun. 30, 2024
Income Taxes [Abstract]
Income Taxes	12. Income Taxes The Company incurred losses for the six months ended June 30, 2024 and is forecasting additional losses through the remainder of the year ending December 31, 2024, resulting in an estimated net loss for both financial statement and tax purposes for the year ending December 31, 2024. Therefore, no federal or state income taxes are expected and none have been recorded at this time. Income taxes have been accounted for using the liability method. Due to the Company’s history of losses since inception, there is not enough evidence at this time to support that the Company will generate future income of a sufficient amount and nature to utilize the benefits of its net deferred tax assets. Accordingly, the deferred tax assets have been reduced by a full valuation allowance, since the Company does not currently believe that realization of its deferred tax assets is more likely than not. As of June 30, 2024, the Company had no unrecognized income tax benefits that would reduce the Company’s effective tax rate if recognized.

Income Taxes

6 Months Ended

Jun. 30, 2024

Income Taxes [Abstract]

Income Taxes

12. Income Taxes

The Company incurred losses for the six months ended June 30, 2024 and is forecasting additional losses through the remainder of the year ending December 31, 2024, resulting in an estimated net loss for both financial statement and tax purposes for the year ending December 31, 2024. Therefore, no federal or state income taxes are expected and none have been recorded at this time. Income taxes have been accounted for using the liability method.

Due to the Company’s history of losses since inception, there is not enough evidence at this time to support that the Company will generate future income of a sufficient amount and nature to utilize the benefits of its net deferred tax assets. Accordingly, the deferred tax assets have been reduced by a full valuation allowance, since the Company does not currently believe that realization of its deferred tax assets is more likely than not.

As of June 30, 2024, the Company had no unrecognized income tax benefits that would reduce the Company’s effective tax rate if recognized.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Debt (Principal Payments Due on Long-term Debt) (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Year
2024 remaining	$ 5,159,551
2025	344,075
2026	290,355
2027	273,156
2028	1,546,111
Thereafter	2,878,270
Total debt	$ 10,491,518	$ 8,544,402

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Going Concern Uncertainty	6 Months Ended
Jun. 30, 2024
Going Concern Uncertainty [Abstract]
Going Concern Uncertainty	2. Going Concern Uncertainty Since inception, the Company has incurred cumulative net losses and negative cash flows from operations and expects that this will continue for the foreseeable future. As of June 30, 2024, the Company has $728 thousand in cash and cash equivalents. The Company’s ability to continue as a going concern is dependent upon its ability to raise additional capital, including its ability to sell additional equipment from the Ohio farm to generate liquidity to fund ongoing operations, and there can be no assurance that such capital will be available in sufficient amounts, on a timely basis, or on terms acceptable to the Company, or at all. This raises substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the accompanying condensed consolidated financial statements are issued. The accompanying condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business and do not include any adjustments that might result from the outcome of this uncertainty. Until such time as the Company reaches profitability, it will require additional financing to fund its operations and execute its business plan.

Going Concern Uncertainty

6 Months Ended

Jun. 30, 2024

Going Concern Uncertainty [Abstract]

Going Concern Uncertainty

2. Going Concern Uncertainty

Since inception, the Company has incurred cumulative net losses and negative cash flows from operations and expects that this will continue for the foreseeable future. As of June 30, 2024, the Company has $728 thousand in cash and cash equivalents.

The Company’s ability to continue as a going concern is dependent upon its ability to raise additional capital, including its ability to sell additional equipment from the Ohio farm to generate liquidity to fund ongoing operations, and there can be no assurance that such capital will be available in sufficient amounts, on a timely basis, or on terms acceptable to the Company, or at all. This raises substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the accompanying condensed consolidated financial statements are issued. The accompanying condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business and do not include any adjustments that might result from the outcome of this uncertainty. Until such time as the Company reaches profitability, it will require additional financing to fund its operations and execute its business plan.

Nature of Business and Organization (Schedule of Assets Held-for-Sale) (Details)	Jun. 30, 2024 USD ($)
Total asset held for sale	$ 35,086,031
Indiana Farm [Member]
Total asset held for sale	9,189,318
Equipment [Member] \| Ohio Farm [Member]
Total asset held for sale	$ 25,896,713

Leases (Summary of Lease Costs) (Details) - USD ($)	3 Months Ended		6 Months Ended
Leases (Summary of Lease Costs) (Details) - USD ($)	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Operating lease expense	$ 11,938	$ 4,243	$ 23,876	$ 25,744
Short-term lease expense		18,460		18,460
Lease payments included in operating cash flows	$ 7,568	$ 18,460	$ 23,876	$ 44,605

Basis of Presentation (Tables)

6 Months Ended

Jun. 30, 2024

Basis of Presentation [Abstract]

Schedule of Product Information

During the three and six months ended June 30, 2024, the Company recognized the following product revenue:


	Three Months Ended June 30, 2024
		U.S.		Canada		Total
GE Atlantic salmon	$	-		-	$	-
Non-GE Atlantic salmon and fry				4,954		4,954
Non-GE Atlantic salmon eggs				175,009		175,009
Other revenue				219		219
Total Revenue	$	-	$	180,182	$	180,182


	Six Months Ended June 30, 2024
		U.S.		Canada		Total
GE Atlantic salmon	$	395,157		-	$	395,157
Non-GE Atlantic salmon and fry		-		34,743		34,743
Non-GE Atlantic salmon eggs		-		225,411		225,411
Other revenue		-		2,139		2,139
Total Revenue	$	395,157	$	262,293	$	657,450

During the three and six months ended June 30, 2023, the Company recognized the following product revenue:


	Three Months Ended June 30, 2023
		U.S.		Canada		Total
GE Atlantic salmon	$	754,310	$	-	$	754,310
Non-GE Atlantic salmon and fry				33,527		33,527
Non-GE Atlantic salmon eggs		-		-		-
Other revenue		-		593		593
Total Revenue	$	754,310	$	34,120	$	788,430


	Six Months Ended June 30, 2023
		U.S.		Canada		Total
GE Atlantic salmon	$	1,146,738		-	$	1,146,738
Non-GE Atlantic salmon and fry		-		34,257		34,257
Non-GE Atlantic salmon eggs		-		730		730
Other revenue		-		4,551		4,551
Total Revenue	$	1,146,738	$	39,538	$	1,186,276

Schedule of Customer Concentration of Revenue


	Three Months Ended June 30,
	2024	2023
Customer A	-%	45%
Customer B	-%	23%
Customer C	-%	12%
Customer D	97%	-%
All other	3%	20%
Total of all customers	100%	100%


	Six Months Ended June 30,
	2024	2023
Customer A	21%	48%
Customer B	-%	23%
Customer C	6%	13%
Customer D	27%	-%
All other	46%	16%
Total of all customers	100%	100%

Schedule of Impact of Potentially Dilutive Securities Outstanding


	Three Months Ended June 30,
Weighted Average Outstanding	2024	2023
Stock options	73,737	48,543
Warrants	-	-
Unvested stock awards	20,222	26,608


	Six Months Ended June 30,
Weighted Average Outstanding	2024	2023
Stock options	74,204	45,307
Warrants	-	1,850
Unvested stock awards	25,934	19,674

Inventory (Tables)

6 Months Ended

Jun. 30, 2024

Inventory [Abstract]

Schedule of Inventory


	June 30, 2024		December 31, 2023
Feed	$	51,806		167,136
Eggs and fry		73,110		147,998
Fish in process		—		1,418,469
Inventory	$	124,916		1,733,603

Basis of Presentation (Schedule of Potentially Dilutive Securities Excluded from Calculation as Effect is Anti-Dilutive) (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	73,737	48,543	74,204	45,307
Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities				1,850
Unvested Stock Awards [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	20,222	26,608	25,934	19,674

Property, Plant and Equipment (Schedule of Property, Plant and Equipment) (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 94,420,879	$ 185,159,676
Less accumulated depreciation and amortization	(4,187,011)	(10,778,294)
Property, plant and equipment, net	90,233,868	174,381,382
Land [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	2,535,970	2,974,685
Building And Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	6,199,545	15,804,739
Construction In Process [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	81,375,995	147,755,336
Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	4,102,292	18,285,038
Office Furniture And Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	101,869	231,758
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 105,208	$ 108,120

Nature of Business and Organization

6 Months Ended

Jun. 30, 2024

Nature of Business and Organization [Abstract]

Nature of Business and Organization

1. Nature of business and organization

AquaBounty Technologies, Inc. (the “Parent” and, together with its wholly owned subsidiaries, the “Company”) was incorporated in December 1991 in the State of Delaware for the purpose of conducting research and development of the commercial viability of a group of proteins commonly known as antifreeze proteins. In 1996, the Parent obtained the exclusive licensing rights for a gene construct (transgene) used to create a breed of farm-raised Atlantic salmon that exhibit growth rates that are substantially faster than conventional Atlantic salmon. In 2015, the Parent obtained regulatory approval from the U.S. Food and Drug Administration (“FDA”) for the production and sale of its genetically engineered AquAdvantage salmon product (“GE Atlantic salmon”) in the United States, and in 2016, the Parent obtained regulatory approval from Health Canada for the production and sale of its GE Atlantic salmon product in Canada. In 2021, the Parent obtained regulatory approval from the National Biosafety Technical Commission for the sale of its GE Atlantic salmon product in Brazil. In 2021, the Company began harvesting and selling its GE Atlantic salmon in the United States and Canada.

In the first quarter of 2024, the Company commenced a process to identify a potential buyer for its Indiana farm. This decision resulted in a $4.3 million non-cash impairment charge against long-lived assets and a $1.0 million net realizable value adjustment of inventory at the Indiana farm. The impairment charge was based on the best available information at the time regarding the potential sale price for the farm.

In the second quarter of 2024, the Company began marketing the Indiana farm for sale and on June 28, 2024, signed a Purchase and Sale Agreement with a buyer for a sale price of $9.5 million less transaction expenses, which included certain equipment assets that had been purchased for the Company’s Ohio farm. Based on this agreement, the Company recorded an additional non-cash impairment charge of $18.2 million and classified the assets to be sold in the transaction as Assets Held for Sale on the condensed consolidated balance sheet. The transaction closed on July 26, 2024 – see Note 13.

In the second quarter of 2024, the Company initiated a plan to sell additional equipment from the Ohio farm to generate liquidity, resulting in an additional non-cash impairment charge of $26.3 million. These assets have been classified as Assets Held for Sale on the condensed consolidated balance sheet.


Assets Held for Sale		June 30, 2024
Indiana farm sale	$	9,189,318
Ohio equipment		25,896,713
Total assets held for sale	$	35,086,031

Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2024

Stockholders' Equity [Abstract]

Unvested Stock Award Activity


	Shares	Weighted ‎average grant ‎date fair value
Unvested at December 31, 2023	34,140	$	11.91
Granted	—		—
Vested	(18,756)		13.57
Forfeited	(107)		13.07
Unvested at June 30, 2024	15,277	$	9.87

Stock Option Activity


	Number of ‎options	Weighted ‎average ‎exercise price
Outstanding at December 31, 2023	75,669	$	41.64
Issued	—		—
Exercised	—		—
Forfeited	(341)		7.20
Expired	(1,688)		307.27
Outstanding at June 30, 2024	73,640	$	35.71
Exercisable at June 30, 2024	52,880	$	46.00

Information About Options Outstanding and Exercisable


Weighted ‎average exercise ‎price of outstanding ‎options	Number of ‎options ‎outstanding	Weighted ‎average remaining ‎estimated life ‎(in years)	Number of ‎options ‎exercisable
< $10.00	33,839	9.0	15,143
$20.00 - $50.00	35,217	5.6	33,153
$100.00 - $200.00	2,369	5.9	2,369
$200.00 - $500.00	2,215	2.8	2,215
	73,640		52,880

Leases (Summary of Lease Obligations) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Jun. 30, 2024
Leases [Abstract]
Operating lease right-of-use assets, net	$ 281,104	$ 265,923
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Operating lease right-of-use assets, net	Operating lease right-of-use assets, net
Right-of-use assets obtained for new lease liabilities	$ 84,143
Other current liabilities	$ 30,863	$ 31,831
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Current	Other Liabilities, Current
Operating lease liabilities	$ 250,241	$ 234,092
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Operating lease liabilities	Operating lease liabilities
Total operating lease liabilities	$ 281,104	$ 265,923
Weighted average remaining lease term	25 years 6 months	22 years 3 months 18 days
Weighted average discount rate	8.00%	8.00%

Inventory (Schedule of Inventory) (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Inventory [Line Items]
Inventory, net	$ 124,916	$ 1,733,603
Feed [Member]
Inventory [Line Items]
Inventory, net	51,806	167,136
Eggs And Fry [Member]
Inventory [Line Items]
Inventory, net	$ 73,110	147,998
Fish In Process [Member]
Inventory [Line Items]
Inventory, net		$ 1,418,469

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2024	Aug. 05, 2024
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-36426
Entity Registrant Name	AquaBounty Technologies, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	04-3156167
Entity Address, Address Line One	233 Ayer Road
Entity Address, Address Line Two	Suite 4
Entity Address, City or Town	Harvard
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01451
City Area Code	978
Local Phone Number	648-6000
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	AQB
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		3,865,778
Entity Central Index Key	0001603978
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues
Product revenues	$ 180,182	$ 788,430	$ 657,450	$ 1,186,276
Costs and expenses
Product costs	1,641,083	3,790,878	6,117,380	7,350,118
Sales and marketing	79,702	194,254	143,665	392,539
Research and development	64,502	178,394	184,291	301,311
General and administrative	3,446,560	3,067,533	5,947,117	6,068,015
Long-lived asset impairment	44,468,222		48,733,222
Total costs and expenses	49,700,069	7,231,059	61,125,675	14,111,983
Operating loss	(49,519,887)	(6,442,629)	(60,468,225)	(12,925,707)
Other expense
Interest expense	(989,976)	(65,789)	(1,198,539)	(132,063)
Other (expense) income, net	(4,378)	(328)	(5,725)	62,956
Total other expense	(994,354)	(66,117)	(1,204,264)	(69,107)
Net loss	(50,514,241)	(6,508,746)	(61,672,489)	(12,994,814)
Other comprehensive (loss) income:
Foreign currency translation (loss) gain	(57,335)	111,346	(173,642)	115,773
Total other comprehensive (loss) income	(57,335)	111,346	(173,642)	115,773
Comprehensive loss	$ (50,571,576)	$ (6,397,400)	$ (61,846,131)	$ (12,879,041)
Net Loss Per Share, Basic	$ (13.08)	$ (1.69)	$ (16.00)	$ (3.38)
Net Loss Per Share, Diluted	$ (13.08)	$ (1.69)	$ (16.00)	$ (3.38)
Weighted average number of common shares -
Weighted Average Number of Shares Outstanding, Basic	3,860,487	3,846,061	3,854,958	3,841,666
Weighted Average Number of Shares Outstanding, Diluted	3,860,487	3,846,061	3,854,958	3,841,666

Risks and Uncertainties

6 Months Ended

Jun. 30, 2024

Risks and Uncertainties [Abstract]

Risks and Uncertainties

4. Risks and uncertainties

The Company is subject to risks and uncertainties common in the biotechnology and aquaculture industries. Such risks and uncertainties include, but are not limited to: (i) results from current and planned product development studies and trials; (ii) decisions made by the FDA or similar regulatory bodies in other countries with respect to approval and commercial sale of any of the Company’s proposed products; (iii) the commercial acceptance of any products approved for sale and the Company’s ability to produce, distribute, and sell for a profit any products approved for sale; (iv) the Company’s ability to obtain the necessary patents and proprietary rights to effectively protect its technologies; and (v) the outcome of any collaborations or alliances entered into by the Company.

Concentration of credit risk

Financial instruments that potentially subject the Company to credit risk consist principally of cash and cash equivalents. This risk is mitigated by the Company’s policy of maintaining all balances with highly rated financial institutions and investing in cash equivalents with maturities of less than 90 days. The Company’s cash balances may at times exceed insurance limitations. The Company holds cash balances in bank accounts located in Canada to fund its local operations. These amounts are subject to foreign currency exchange risk, which is minimized by the Company’s policy to limit the balances held in these accounts. Balances in Canadian bank accounts totaled $134 thousand and $227 thousand as of June 30, 2024 and December 31, 2023, respectively.

Nature of Business and Organization (Tables)

6 Months Ended

Jun. 30, 2024

Nature of Business and Organization [Abstract]

Disclosure of Assets Held-For-Sale


Assets Held for Sale		June 30, 2024
Indiana farm sale	$	9,189,318
Ohio equipment		25,896,713
Total assets held for sale	$	35,086,031

Leases (Tables)

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

Summary of Lease Liabilities and Lease Expenses


		June 30, 2024		December 31, 2023
Operating lease right-of-use assets, net	$	265,923	$	281,104
Right-of-use assets obtained for new lease liabilities		-		84,143

Other current liabilities		31,831		30,863
Operating lease liabilities		234,092		250,241
Total operating lease liabilities	$	265,923	$	281,104


Weighted average remaining lease term	22.3 years	25.5 years
Weighted average discount rate	8%	8%

Remaining Payments Under Leases


Year		Amount
2024 remaining	$	24,178
2025		49,801
2026		40,373
2027		19,102
2028		19,676
Thereafter		544,549
Total lease payments		697,679
Less: imputed interest		(431,756)
Total operational lease liabilities	$	265,923

Summary of Lease Costs


		Three Months Ended June 30,
		2024		2023
Operating lease expense	$	11,938	$	4,243
Short-term lease expense		-		18,460
Lease payments included in operating cash flows		7,568		18,460


		Six Months Ended June 30,
		2024		2023
Operating lease expense	$	23,876	$	25,744
Short-term lease expense		-		18,460
Lease payments included in operating cash flows		23,876		44,605

Debt (Terms and Conditions of Long-term Debt Outstanding) (Details)	6 Months Ended
	Jun. 30, 2024 CAD ($)	Jun. 30, 2024 USD ($)	Apr. 30, 2024	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Total debt		$ 10,491,518		$ 8,544,402
less: debt issuance costs				(37,236)
less: current portion		(5,330,124)		(795,300)
Long-term debt, net		$ 5,161,394		7,711,866
ACOA AIF Grant [Member]
Debt Instrument [Line Items]
Interest rate		0.00%
Maturity date	-	-
Total debt		$ 2,099,662		2,166,289
ACOA Term Loan #1 [Member]
Debt Instrument [Line Items]
Interest rate		0.00%
Monthly repayment	$ 3,120
Maturity date	Feb 2027	Feb 2027
Total debt		$ 73,022		89,460
ACOA Term Loan #2 [Member]
Debt Instrument [Line Items]
Interest rate		0.00%
Monthly repayment	$ 4,630
Maturity date	Sep 2029	Sep 2029
Total debt		$ 213,225		240,946
ACOA Term Loan #3 [Member]
Debt Instrument [Line Items]
Interest rate		0.00%
Monthly repayment	$ 6,945
Maturity date	Dec 2025	Dec 2025
Total debt		$ 91,380		125,712
ACOA Term Loan #4 [Member
Debt Instrument [Line Items]
Interest rate		3.00%
Monthly repayment	$ 1,674
Maturity date	Mar 2034	Mar 2034
Total debt		$ 115,693
Kubota Canada Ltd [Member]
Debt Instrument [Line Items]
Interest rate		0.00%
Monthly repayment	$ 1,142
Maturity date	Jan 2025	Jan 2025
Total debt		$ 5,846		11,202
DFO Term Loan [Member]
Debt Instrument [Line Items]
Interest rate		0.00%
Monthly repayment	$ 14,896
Maturity date	Jan 2034	Jan 2034
Total debt		$ 1,265,050		1,305,193
Finance PEI Term Loan [Member]
Debt Instrument [Line Items]
Interest rate		6.50%
Monthly repayment	$ 19,913
Maturity date	Dec 2028	Dec 2028
Total debt		$ 1,627,640		1,713,837
JMB Capital Partners Lending, LLC [Member]
Debt Instrument [Line Items]
Interest rate		15.00%	15.00%
Monthly repayment		$ 0
Maturity date	Jul 2024	Jul 2024
Total debt		$ 5,000,000
First Farmers Bank & Trust [Member]
Debt Instrument [Line Items]
Interest rate		5.40%
Maturity date	—	—
Total debt				$ 2,891,763

Subsequent Events (Details) $ in Millions	Jul. 26, 2024 USD ($)
Indiana Farm and Ohio Farm [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Proceeds from sale of equipment	$ 9.2

Basis of Presentation (Narrative) (Details)	Oct. 16, 2023	Jun. 30, 2024 shares	Dec. 31, 2023 shares	Oct. 12, 2023 shares
Basis of Presentation [Abstract]
Stock split conversion ratio, reverse split	0.05
Authorized shares of common stock		75,000,000	75,000,000	150,000,000

Risks and Uncertainties (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Canada [Member] \| Credit Concentration Risk [Member]
Concentration Risk [Line Items]
Cash in Canadian bank accounts	$ 134	$ 227

- Definition

Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Excludes cash and cash equivalents within disposal group and discontinued operation.

+ References + Details

Stockholders' Equity (Narrative) (Details) - USD ($)	6 Months Ended
Stockholders' Equity (Narrative) (Details) - USD ($)	Jun. 30, 2024	Jun. 30, 2023
Unvested Stock Awards [Member]
Stockholders' Equity
Share-based compensation expense	$ 97,000	$ 225,000
Unearned share-based compensation expense in future periods	$ 117,000
Unearned share-based compensation earn period	10 months 24 days
Stock Options [Member]
Stockholders' Equity
Share-based compensation expense	$ 77,000	$ 78,000
Unearned share-based compensation expense in future periods	$ 140,000
Unearned share-based compensation earn period	10 months 24 days
Intrinsic value of options outstanding	$ 0
Intrinsic value of exercisable options	$ 0
Granted	0
Exercisable term	10 years
Minimum [Member] \| Stock Options [Member]
Stockholders' Equity
Award vesting period	1 year
Maximum [Member] \| Stock Options [Member]
Stockholders' Equity
Award vesting period	3 years
Equity Incentive Plan 2006 [Member] \| Reserved for Exercise of Outstanding Stock Options and Unvested Stock Awards [Member]
Stockholders' Equity
Common stock reserved for future issuances (in shares)	73,640
2016 Equity Incentive Plan [Member] \| Reserved for Exercise of Outstanding Stock Options and Unvested Stock Awards [Member]
Stockholders' Equity
Common stock reserved for future issuances (in shares)	15,277
2016 Equity Incentive Plan [Member] \| Reserved for Future Equity Awards [Member]
Stockholders' Equity
Common stock reserved for future issuances (in shares)	69,882

Property, Plant and Equipment

6 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

7. Property, plant and equipment

Major classifications of property, plant and equipment are summarized as follows:


	June 30, 2024		December 31, 2023
Land	$	2,535,970	$	2,974,685
Building and improvements		6,199,545		15,804,739
Construction in process		81,375,995		147,755,336
Equipment		4,102,292		18,285,038
Office furniture and equipment		101,869		231,758
Vehicles		105,208		108,120
Total property and equipment	$	94,420,879	$	185,159,676
Less accumulated depreciation and amortization		(4,187,011)		(10,778,294)
Property, plant and equipment, net	$	90,233,868	$	174,381,382

Depreciation expense was $715 thousand and $1.1 million, for the six months ended June 30, 2024 and 2023, respectively.

As of June 30, 2024, construction in process included $77.4 million and $4.0 million for construction related to the Ohio and Rollo Bay farm sites, respectively. An additional $11.7 million has been contractually committed for these farm sites as of June 30, 2024.

See Note 1 for discussions on the reclassification of property, plant and equipment to assets held for sale.

Condensed Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Operating activities
Net loss	$ (61,672,489)	$ (12,994,814)
Adjustment to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	722,517	1,066,476
Share-based compensation	174,061	302,825
Long-lived asset impairment	48,733,222
Other non-cash charge	37,233	9,408
Changes in operating assets and liabilities:
Inventory	1,600,775	(74,789)
Prepaid expenses and other assets	934,007	(1,225,343)
Accounts payable and accrued liabilities	1,066,904	748,443
Accrued employee compensation	(294,597)	(78,492)
Net cash used in operating activities	(8,698,367)	(12,246,286)
Investing activities
Purchases of and deposits on property, plant and equipment	(2,043,333)	(46,586,998)
Other investing activities	149,282	(3,263)
Net cash used in investing activities	(1,894,051)	(46,590,261)
Financing activities
Proceeds from issuance of debt	5,117,292	394,156
Repayment of term debt	(2,995,467)	(359,704)
Net cash provided by financing activities	2,121,825	34,452
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(4,937)	5,818
Net change in cash, cash equivalents and restricted cash	(8,475,530)	(58,796,277)
Cash, cash equivalents and restricted cash at beginning of period	9,203,869	102,638,557
Cash, cash equivalents and restricted cash at end of period	728,339	43,842,280
Reconciliation of cash, cash equivalents and restricted cash reported in the consolidated balance sheet:
Cash and cash equivalents	728,339	42,842,280
Restricted cash		1,000,000
Total cash, cash equivalents and restricted cash	728,339	43,842,280
Supplemental disclosure of cash flow information and non-cash transactions:
Interest paid in cash	1,161,302	124,430
Property and equipment included in accounts payable and accrued liabilities	$ 10,423,909	$ 18,682,066

Basis of Presentation (Schedule of Product Information) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Product Information [Line Items]
Revenues	$ 180,182	$ 788,430	$ 657,450	$ 1,186,276
GE Atlantic Salmon [Member]
Product Information [Line Items]
Revenues		754,310	395,157	1,146,738
Non-GE Atlantic Salmon And Fry [Member]
Product Information [Line Items]
Revenues	4,954	33,527	34,743	34,257
Non-GE Atlantic Salmon Eggs [Member]
Product Information [Line Items]
Revenues	175,009		225,411	730
Other Revenue [Member]
Product Information [Line Items]
Revenues	219	593	2,139	4,551
U.S. [Member]
Product Information [Line Items]
Revenues		754,310	395,157	1,146,738
U.S. [Member] \| GE Atlantic Salmon [Member]
Product Information [Line Items]
Revenues		754,310	395,157	1,146,738
Canada [Member]
Product Information [Line Items]
Revenues	180,182	34,120	262,293	39,538
Canada [Member] \| Non-GE Atlantic Salmon And Fry [Member]
Product Information [Line Items]
Revenues	4,954	33,527	34,743	34,257
Canada [Member] \| Non-GE Atlantic Salmon Eggs [Member]
Product Information [Line Items]
Revenues	175,009		225,411	730
Canada [Member] \| Other Revenue [Member]
Product Information [Line Items]
Revenues	$ 219	$ 593	$ 2,139	$ 4,551

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 48
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-48

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 6: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-42

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477314/942-235-S99-1

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

+ Details

Prepaid and Other Current Assets (Tables)

6 Months Ended

Jun. 30, 2024

Prepaid and Other Current Assets [Abstract]

Schedule of Prepaid and Other Current Assets


	June 30, 2024		December 31, 2023
Receivables	$	52,942	$	1,216,585
Prepaid insurance		581,154		388,049
Prepaid supplies		87,898		85,988
Deposits and other		76,551		9,651
Total prepaid expenses and other current assets	$	798,545	$	1,700,273

Basis of Presentation (Policy)

6 Months Ended

Jun. 30, 2024

Basis of Presentation [Abstract]

Consolidation

The unaudited interim condensed consolidated financial statements include the accounts of AquaBounty Technologies, Inc. and its wholly owned direct subsidiaries. All intercompany transactions and balances have been eliminated upon consolidation.

Basis of Presentation

The unaudited interim condensed consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States (“GAAP”) consistent with those applied in, and should be read in conjunction with, the

Company’s audited financial statements and related notes for the year ended December 31, 2023. The unaudited interim condensed consolidated financial statements reflect all adjustments, consisting only of normal recurring adjustments, which are, in the opinion of management, necessary for a fair presentation of the Company’s financial position as of June 30, 2024, results of operations and cash flows for the interim periods presented, and are not necessarily indicative of results for subsequent interim periods or for the full year. The unaudited interim condensed consolidated financial statements do not include all of the information and notes required by GAAP for complete financial statements, as allowed by the relevant SEC rules and regulations; however, the Company believes that its disclosures are adequate to ensure that the information presented is not misleading.

Reverse Stock Split

On October 12, 2023, the stockholders of the Company approved a reverse stock split of the Company’s common stock, and the Board of Directors approved a split ratio of 1-for-20. The reverse stock split was implemented on October 16, 2023. In conjunction with the reverse stock split, the number of shares of common stock authorized for issuance was reduced from 150 million to 75 million. All share and per share information, as well as other related information on equity instruments in the unaudited condensed consolidated financial statements and accompanying notes have been adjusted to reflect this change.

Revenue Recognition

Revenue recognition

The Company is comprised of one reporting segment and generates revenue from the sale of its products. Revenue is recognized when the customer takes physical control of the goods, in an amount that reflects the transaction price consideration that the Company expects to receive in exchange for the goods. Revenue excludes any sales tax collected and includes any estimate of future credits.

During the three and six months ended June 30, 2024, the Company recognized the following product revenue:


	Three Months Ended June 30, 2024
		U.S.		Canada		Total
GE Atlantic salmon	$	-		-	$	-
Non-GE Atlantic salmon and fry				4,954		4,954
Non-GE Atlantic salmon eggs				175,009		175,009
Other revenue				219		219
Total Revenue	$	-	$	180,182	$	180,182


	Six Months Ended June 30, 2024
		U.S.		Canada		Total
GE Atlantic salmon	$	395,157		-	$	395,157
Non-GE Atlantic salmon and fry		-		34,743		34,743
Non-GE Atlantic salmon eggs		-		225,411		225,411
Other revenue		-		2,139		2,139
Total Revenue	$	395,157	$	262,293	$	657,450

During the three and six months ended June 30, 2023, the Company recognized the following product revenue:


	Three Months Ended June 30, 2023
		U.S.		Canada		Total
GE Atlantic salmon	$	754,310	$	-	$	754,310
Non-GE Atlantic salmon and fry				33,527		33,527
Non-GE Atlantic salmon eggs		-		-		-
Other revenue		-		593		593
Total Revenue	$	754,310	$	34,120	$	788,430


	Six Months Ended June 30, 2023
		U.S.		Canada		Total
GE Atlantic salmon	$	1,146,738		-	$	1,146,738
Non-GE Atlantic salmon and fry		-		34,257		34,257
Non-GE Atlantic salmon eggs		-		730		730
Other revenue		-		4,551		4,551
Total Revenue	$	1,146,738	$	39,538	$	1,186,276

During the three and six months ended June 30, 2024 and 2023, the Company had the following customer concentration of revenue:


	Three Months Ended June 30,
	2024	2023
Customer A	-%	45%
Customer B	-%	23%
Customer C	-%	12%
Customer D	97%	-%
All other	3%	20%
Total of all customers	100%	100%

Net Loss Per Share

Net loss per share

Basic and diluted net loss per share available to common stockholders has been calculated by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Basic net loss per share is based solely on the number of shares of common stock outstanding during the period. Fully diluted net loss per share includes the number of shares of common stock issuable upon the exercise of warrants or options with an exercise price less than the fair value of the common stock. Since the Company is reporting a net loss for all periods presented, all potential shares of common stock are considered anti-dilutive and are excluded from the calculation of diluted net loss per share.

The following potentially dilutive securities have been excluded from the calculation of diluted net loss per share, as their effect is anti-dilutive:


	Three Months Ended June 30,
Weighted Average Outstanding	2024	2023
Stock options	73,737	48,543
Warrants	-	-
Unvested stock awards	20,222	26,608


	Six Months Ended June 30,
Weighted Average Outstanding	2024	2023
Stock options	74,204	45,307
Warrants	-	1,850
Unvested stock awards	25,934	19,674

Accounting Pronouncements

In November 2023, the Financial Accounting Standards Board issued Accounting Standards Update 2023-07, Segment Reporting (Topic 280), to improve reportable segment disclosure requirements. This update requires companies to disclose significant segment expense categories that are regularly provided to the chief operating decision maker ("CODM") on an interim and annual basis and expands disclosure requirements for interim reporting. Companies must also disclose how segment measures of profit or loss are used by the CODM. The Company is evaluating the impact of the update.

The amendments in this update are effective for public entities for annual periods beginning after December 15, 2023, and interim periods beginning after December 15, 2024. The amendments should be adopted on a retrospective basis and early adoption is permitted.

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-17

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 19
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-19

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-18

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-18

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 20
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-20

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 20
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-20

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 20
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-20

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 20
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-20

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (e)
-SubTopic 10
-Topic 235
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483426/235-10-50-4

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Subsequent Events

6 Months Ended

Jun. 30, 2024

Subsequent Events [Abstract]

Subsequent Events

13. Subsequent Events

On July 26, 2024, the Company completed the sale of its Indiana farm, along with certain equipment assets from its Ohio farm for net proceeds of $9.2 million, and repaid all amounts owed to JMB under the Loan Agreement.

Inventory

6 Months Ended

Jun. 30, 2024

Inventory [Abstract]

Inventory

5. Inventory

Major classifications of inventory are summarized as follows:


	June 30, 2024		December 31, 2023
Feed	$	51,806		167,136
Eggs and fry		73,110		147,998
Fish in process		—		1,418,469
Inventory	$	124,916		1,733,603

Property, Plant and Equipment (Tables)

6 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment


	June 30, 2024		December 31, 2023
Land	$	2,535,970	$	2,974,685
Building and improvements		6,199,545		15,804,739
Construction in process		81,375,995		147,755,336
Equipment		4,102,292		18,285,038
Office furniture and equipment		101,869		231,758
Vehicles		105,208		108,120
Total property and equipment	$	94,420,879	$	185,159,676
Less accumulated depreciation and amortization		(4,187,011)		(10,778,294)
Property, plant and equipment, net	$	90,233,868	$	174,381,382

Debt (Tables)

6 Months Ended

Jun. 30, 2024

Debt [Abstract]

Terms and Conditions of Long-term Debt Outstanding


	Interest ‎rate	Monthly ‎repayment	Maturity ‎date	June 30, 2024		December 31, 2023
ACOA AIF Grant	0%	Royalties	-	$	2,099,662	$	2,166,289
ACOA term loan #1	0%	C$3,120	Feb 2027		73,022		89,460
ACOA term loan #2	0%	C$4,630	Sep 2029		213,225		240,946
ACOA term loan #3	0%	C$6,945	Dec 2025		91,380		125,712
ACOA term loan #4	3.0%	C$1,674	Mar 2034		115,693		—
Kubota Canada Ltd.	0%	C$1,142	Jan 2025		5,846		11,202
DFO term loan	0%	C$14,896	Jan 2034		1,265,050		1,305,193
Finance PEI term loan	6.5%	C$19,913	Dec 2028		1,627,640		1,713,837
JMB Capital Partners Lending	15.0%	$0	Jul 2024		5,000,000		—
First Farmers Bank & Trust term loan	5.4%	—	—		—		2,891,763
Total debt				$	10,491,518	$	8,544,402
less: debt issuance costs					—		(37,236)
less: current portion					(5,330,124)		(795,300)
Long-term debt, net				$	5,161,394	$	7,711,866

Principal Payments Due on Long-term Debt


	Total
2024 remaining	$	5,159,551
2025		344,075
2026		290,355
2027		273,156
2028		1,546,111
Thereafter		2,878,270
Total	$	10,491,518

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
-SubTopic 10
-Topic 210
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-3

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477734/942-470-50-3

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-8

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-6

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-7

+ Details

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Condensed Consolidated Balance Sheets [Abstract]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	75,000,000	75,000,000
Common stock, shares outstanding (in shares)	3,865,778	3,847,022

Property, Plant and Equipment (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense			$ 715,000	$ 1,100,000
Gross property, plant, and equipment	$ 94,420,879		94,420,879		$ 185,159,676
Commitments to purchase property, plant, and equipment			11,700,000
Long-lived asset impairment		$ 4,300,000	48,733,222
Inventory Adjustments		$ 1,000,000.0
Construction In Process [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant, and equipment	81,375,995		81,375,995		147,755,336
Equipment [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant, and equipment	4,102,292		4,102,292		$ 18,285,038
Ohio Farm [Member] \| Construction In Process [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant, and equipment	77,400,000		77,400,000
Ohio Farm [Member] \| Equipment [Member]
Property, Plant and Equipment [Line Items]
Sale price of equipment assets	9,500,000
Additional non-cash charge	18,200,000
Ohio Farm [Member] \| Additional Equipment [Member]
Property, Plant and Equipment [Line Items]
Additional non-cash charge	26,300,000
Rollo Bay Farm And Fortune Bay Hatchery [Member] \| Construction In Process [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant, and equipment	$ 4,000,000.0		$ 4,000,000.0

Leases (Summary of Remaining Payments under Leases) (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Leases [Abstract]
2024 remaining	$ 24,178
2025	49,801
2026	40,373
2027	19,102
2028	19,676
Thereafter	544,549
Total lease payments	697,679
Less: imputed interest	(431,756)
Total operating lease liabilities	$ 265,923	$ 281,104

Nature of Business and Organization (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2024
Long-lived asset impairment		$ 4,300,000	$ 48,733,222
Inventory net realizable value adjustment		$ 1,000,000.0
Ohio Farm [Member] \| Equipment [Member]
Sale price of equipment assets	$ 9,500,000
Additional non-cash charge	18,200,000
Ohio Farm [Member] \| Additional Equipment [Member]
Additional non-cash charge	$ 26,300,000

Basis of Presentation (Schedule of Customer Concentration of Revenue) (Details) - Customer Concentration Risk [Member] - Revenue Benchmark [Member]	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Customer A [Member]
Product Information [Line Items]
Concentration Risk, Percentage		45.00%	21.00%	48.00%
Customer B [Member]
Product Information [Line Items]
Concentration Risk, Percentage		23.00%		23.00%
Customer C [Member]
Product Information [Line Items]
Concentration Risk, Percentage		12.00%	6.00%	13.00%
Customer D [Member]
Product Information [Line Items]
Concentration Risk, Percentage	97.00%		27.00%
All Other [Member]
Product Information [Line Items]
Concentration Risk, Percentage	3.00%	20.00%	46.00%	16.00%
All Customers [Member]
Product Information [Line Items]
Concentration Risk, Percentage	100.00%	100.00%	100.00%	100.00%

Basis of Presentation

6 Months Ended

Jun. 30, 2024

Basis of Presentation [Abstract]

Basis of Presentation

3. Basis of presentation

Revenue recognition

During the three and six months ended June 30, 2024, the Company recognized the following product revenue:


	Three Months Ended June 30, 2024
		U.S.		Canada		Total
GE Atlantic salmon	$	-		-	$	-
Non-GE Atlantic salmon and fry				4,954		4,954
Non-GE Atlantic salmon eggs				175,009		175,009
Other revenue				219		219
Total Revenue	$	-	$	180,182	$	180,182


	Six Months Ended June 30, 2024
		U.S.		Canada		Total
GE Atlantic salmon	$	395,157		-	$	395,157
Non-GE Atlantic salmon and fry		-		34,743		34,743
Non-GE Atlantic salmon eggs		-		225,411		225,411
Other revenue		-		2,139		2,139
Total Revenue	$	395,157	$	262,293	$	657,450

During the three and six months ended June 30, 2023, the Company recognized the following product revenue:


	Three Months Ended June 30, 2023
		U.S.		Canada		Total
GE Atlantic salmon	$	754,310	$	-	$	754,310
Non-GE Atlantic salmon and fry				33,527		33,527
Non-GE Atlantic salmon eggs		-		-		-
Other revenue		-		593		593
Total Revenue	$	754,310	$	34,120	$	788,430


	Six Months Ended June 30, 2023
		U.S.		Canada		Total
GE Atlantic salmon	$	1,146,738		-	$	1,146,738
Non-GE Atlantic salmon and fry		-		34,257		34,257
Non-GE Atlantic salmon eggs		-		730		730
Other revenue		-		4,551		4,551
Total Revenue	$	1,146,738	$	39,538	$	1,186,276

During the three and six months ended June 30, 2024 and 2023, the Company had the following customer concentration of revenue:


	Three Months Ended June 30,
	2024	2023
Customer A	-%	45%
Customer B	-%	23%
Customer C	-%	12%
Customer D	97%	-%
All other	3%	20%
Total of all customers	100%	100%


	Six Months Ended June 30,
	2024	2023
Customer A	21%	48%
Customer B	-%	23%
Customer C	6%	13%
Customer D	27%	-%
All other	46%	16%
Total of all customers	100%	100%

Net loss per share

The following potentially dilutive securities have been excluded from the calculation of diluted net loss per share, as their effect is anti-dilutive:


	Three Months Ended June 30,
Weighted Average Outstanding	2024	2023
Stock options	73,737	48,543
Warrants	-	-
Unvested stock awards	20,222	26,608


	Six Months Ended June 30,
Weighted Average Outstanding	2024	2023
Stock options	74,204	45,307
Warrants	-	1,850
Unvested stock awards	25,934	19,674

Accounting Pronouncements

Other than the above, management does not expect any recently issued, but not yet effective, accounting standards to have a material effect on its results of operations or financial condition.

Stockholders' Equity (Unvested Stock Award Activity) (Details) - Unvested Stock Awards [Member]	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Shares
Unvested, beginning balance \| shares	34,140
Vested \| shares	(18,756)
Forfeited \| shares	(107)
Unvested, ending balance \| shares	15,277
Weighted average grant date fair value
Unvested, beginning balance \| $ / shares	$ 11.91
Vested \| $ / shares	13.57
Forfeited \| $ / shares	13.07
Unvested, ending balance \| $ / shares	$ 9.87

Nature of Business and Organization (Policy)

6 Months Ended

Jun. 30, 2024

Nature of Business and Organization [Abstract]

Nature of Business

Going Concern Uncertainty (Policy)	6 Months Ended
Going Concern Uncertainty (Policy)	Jun. 30, 2024
Going Concern Uncertainty [Abstract]
Going Concern Uncertainty	Since inception, the Company has incurred cumulative net losses and negative cash flows from operations and expects that this will continue for the foreseeable future. As of June 30, 2024, the Company has $728 thousand in cash and cash equivalents. The Company’s ability to continue as a going concern is dependent upon its ability to raise additional capital, including its ability to sell additional equipment from the Ohio farm to generate liquidity to fund ongoing operations, and there can be no assurance that such capital will be available in sufficient amounts, on a timely basis, or on terms acceptable to the Company, or at all. This raises substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the accompanying condensed consolidated financial statements are issued. The accompanying condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business and do not include any adjustments that might result from the outcome of this uncertainty. Until such time as the Company reaches profitability, it will require additional financing to fund its operations and execute its business plan.

Stockholders' Equity

6 Months Ended

Jun. 30, 2024

Stockholders' Equity [Abstract]

Stockholders' Equity

10. Stockholders’ equity

Share-based compensation

At June 30, 2024, the Company has reserved 73,640 and 15,277 shares of common stock issuable upon the exercise of outstanding stock options and unvested stock awards, respectively, under its 2006 and 2016 Equity Incentive Plans. An additional 69,882 shares of common stock are reserved for future equity awards under the 2016 Equity Incentive Plan.

Unvested Stock Awards

A summary of the Company’s unvested stock awards for the six months ended June 30, 2024, is as follows:


	Shares	Weighted ‎average grant ‎date fair value
Unvested at December 31, 2023	34,140	$	11.91
Granted	—		—
Vested	(18,756)		13.57
Forfeited	(107)		13.07
Unvested at June 30, 2024	15,277	$	9.87

During the six months ended June 30, 2024 and 2023, the Company expensed $97 thousand and $225 thousand, respectively, related to the stock awards. At June 30, 2024, the balance of unearned share-based compensation to be expensed in future periods related to the stock awards is $117 thousand. The period over which the unearned share-based compensation is expected to be earned is approximately 0.9 years.

Stock options

The Company’s option activity is summarized as follows:


	Number of ‎options	Weighted ‎average ‎exercise price
Outstanding at December 31, 2023	75,669	$	41.64
Issued	—		—
Exercised	—		—
Forfeited	(341)		7.20
Expired	(1,688)		307.27
Outstanding at June 30, 2024	73,640	$	35.71
Exercisable at June 30, 2024	52,880	$	46.00

Unless otherwise indicated, options issued to employees, members of the Board of Directors, and non-employees generally vest over a period of one year to three years and are exercisable for a term of ten years from the date of issuance. There were no stock options granted during the six months ended June 30, 2024.

There was no intrinsic value for options outstanding or exercisable at June 30, 2024 and December 31, 2023.

The following table summarizes information about options outstanding and exercisable at June 30, 2024:


Weighted ‎average exercise ‎price of outstanding ‎options	Number of ‎options ‎outstanding	Weighted ‎average remaining ‎estimated life ‎(in years)	Number of ‎options ‎exercisable
< $10.00	33,839	9.0	15,143
$20.00 - $50.00	35,217	5.6	33,153
$100.00 - $200.00	2,369	5.9	2,369
$200.00 - $500.00	2,215	2.8	2,215
	73,640		52,880

Total share-based compensation on stock-option grants amounted to $77 thousand and $78 thousand for the six months ended June 30, 2024 and 2023, respectively. At June 30, 2024, the balance of unearned share-based compensation to be expensed in future periods related to unvested share-based awards was $140 thousand. The period over which the unearned share-based compensation is expected to be earned is approximately 0.9 years.

Condensed Consolidated Statements of Changes in Stockholders’ Equity - USD ($)	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Accumulated Deficit [Member]	Total
Beginning balance (in shares) at Dec. 31, 2022	3,834,383
Beginning balance at Dec. 31, 2022	$ 3,834	$ 385,455,961	$ (516,775)	$ (193,021,977)	$ 191,921,043
Net loss				(6,486,068)	(6,486,068)
Other comprehensive income (loss)			4,427		4,427
Share based compensation (in shares)	11,423
Share based compensation	$ 12	196,629			196,641
Ending balance (in shares) at Mar. 31, 2023	3,845,806
Ending balance at Mar. 31, 2023	$ 3,846	385,652,590	(512,348)	(199,508,045)	185,636,043
Beginning balance (in shares) at Dec. 31, 2022	3,834,383
Beginning balance at Dec. 31, 2022	$ 3,834	385,455,961	(516,775)	(193,021,977)	191,921,043
Net loss					(12,994,814)
Other comprehensive income (loss)					115,773
Ending balance (in shares) at Jun. 30, 2023	3,846,142
Ending balance at Jun. 30, 2023	$ 3,846	385,758,774	(401,002)	(206,016,791)	179,344,827
Beginning balance (in shares) at Mar. 31, 2023	3,845,806
Beginning balance at Mar. 31, 2023	$ 3,846	385,652,590	(512,348)	(199,508,045)	185,636,043
Net loss				(6,508,746)	(6,508,746)
Other comprehensive income (loss)			111,346		111,346
Share based compensation (in shares)	336
Share based compensation		106,184			106,184
Ending balance (in shares) at Jun. 30, 2023	3,846,142
Ending balance at Jun. 30, 2023	$ 3,846	385,758,774	(401,002)	(206,016,791)	179,344,827
Beginning balance (in shares) at Dec. 31, 2023	3,847,022
Beginning balance at Dec. 31, 2023	$ 3,847	385,998,213	(405,464)	(220,579,878)	165,016,718
Net loss				(11,158,248)	(11,158,248)
Other comprehensive income (loss)			(116,307)		(116,307)
Share based compensation (in shares)	10,422
Share based compensation	$ 10	105,145			105,155
Ending balance (in shares) at Mar. 31, 2024	3,857,444
Ending balance at Mar. 31, 2024	$ 3,857	386,103,358	(521,771)	(231,738,126)	153,847,318
Beginning balance (in shares) at Dec. 31, 2023	3,847,022
Beginning balance at Dec. 31, 2023	$ 3,847	385,998,213	(405,464)	(220,579,878)	165,016,718
Net loss					(61,672,489)
Other comprehensive income (loss)					(173,642)
Ending balance (in shares) at Jun. 30, 2024	3,865,778
Ending balance at Jun. 30, 2024	$ 3,866	386,172,255	(579,106)	(282,252,367)	103,344,648
Beginning balance (in shares) at Mar. 31, 2024	3,857,444
Beginning balance at Mar. 31, 2024	$ 3,857	386,103,358	(521,771)	(231,738,126)	153,847,318
Net loss				(50,514,241)	(50,514,241)
Other comprehensive income (loss)			(57,335)		(57,335)
Share based compensation (in shares)	8,334
Share based compensation	$ 9	68,897			68,906
Ending balance (in shares) at Jun. 30, 2024	3,865,778
Ending balance at Jun. 30, 2024	$ 3,866	$ 386,172,255	$ (579,106)	$ (282,252,367)	$ 103,344,648

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482765/220-10-50-6

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-3

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-4

Reference 17: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479168/946-830-55-10

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479105/946-220-45-7

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(9))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(1)(d))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 23: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-60B

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-7

Reference 34: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-28

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B

Reference 37: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

+ Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(31))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479168/946-830-55-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(19))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.6-05(4))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-2

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(4)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(6))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(7))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28

Reference 14: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 4.E)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480418/310-10-S99-2

+ Details

Income Taxes (Narrative) (Details)	6 Months Ended
Income Taxes (Narrative) (Details)	Jun. 30, 2024 USD ($)
Income Taxes [Abstract]
Unrecognized income tax benefits	$ 0
Federal income tax expense	0
State income tax expense	0
Income tax expense (benefit)	$ 0

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.7)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-10

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(9))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Subparagraph (a)
-SubTopic 20
-Topic 740
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482659/740-20-45-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h))
-SubTopic 10
-Topic 235
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

+ Details

Debt (Narrative) (Details)			1 Months Ended			6 Months Ended
Debt (Narrative) (Details)	Jul. 26, 2024 USD ($)	Feb. 29, 2024 CAD ($)	Apr. 30, 2024 USD ($)	Dec. 31, 2023 CAD ($)	Dec. 31, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jul. 31, 2024 USD ($)	Feb. 29, 2024 USD ($)
Debt Instrument [Line Items]
Proceeds from issuance of debt						$ 5,117,292	$ 394,156
Interest expense						$ 922,000	$ 132,000
ACOA Term Loan #4 [Member
Debt Instrument [Line Items]
Maturity date						Mar 2034
Interest rate						3.00%
First Farmers Bank & Trust [Member]
Debt Instrument [Line Items]
Maturity date						—
Interest rate						5.40%
Payment of outstanding balance of term loan			$ 2,800,000
JMB Capital Partners Lending, LLC [Member]
Debt Instrument [Line Items]
Amount borrowed			$ 10,000,000					$ 1,500,000
Maturity date			Jul. 31, 2024
Maturity date						Jul 2024
Interest rate			15.00%			15.00%
Debt Instrument, commitment fees, percent			5.00%
Debt Instrument, exit fees, percent			8.00%
JMB Capital Partners Lending, LLC [Member] \| First Anniversary of Closing Date [Member]
Debt Instrument [Line Items]
Amount borrowed			$ 5,000,000
Canadian Subsidiary [Member] \| Secured Debt [Member]
Debt Instrument [Line Items]
Proceeds from issuance of debt				$ 612,000	$ 452,000
Canadian Subsidiary [Member] \| Secured Debt [Member] \| ACOA Term Loan #4 [Member
Debt Instrument [Line Items]
Amount borrowed		$ 158,246							$ 116,864
Debt payment commence period		2025-04
Maturity date						March 2034
Interest rate		3.00%							3.00%
Subsequent Event [Member] \| Secured Debt [Member] \| JMB Capital Partners Lending, LLC [Member]
Debt Instrument [Line Items]
Payment of outstanding balance of term loan	$ 6,500,000

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2024
Insider Trading Arrangements [Line Items]
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Prepaid and Other Current Assets (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Prepaid and Other Current Assets [Abstract]
Receivables	$ 52,942	$ 1,216,585
Prepaid insurance	581,154	388,049
Prepaid supplies	87,898	85,988
Deposits and other	76,551	9,651
Total Prepaid expenses and other current assets	$ 798,545	$ 1,700,273

Debt

6 Months Ended

Jun. 30, 2024

Debt [Abstract]

Debt

8. Debt


	Interest ‎rate	Monthly ‎repayment	Maturity ‎date	June 30, 2024		December 31, 2023
ACOA AIF Grant	0%	Royalties	-	$	2,099,662	$	2,166,289
ACOA term loan #1	0%	C$3,120	Feb 2027		73,022		89,460
ACOA term loan #2	0%	C$4,630	Sep 2029		213,225		240,946
ACOA term loan #3	0%	C$6,945	Dec 2025		91,380		125,712
ACOA term loan #4	3.0%	C$1,674	Mar 2034		115,693		—
Kubota Canada Ltd.	0%	C$1,142	Jan 2025		5,846		11,202
DFO term loan	0%	C$14,896	Jan 2034		1,265,050		1,305,193
Finance PEI term loan	6.5%	C$19,913	Dec 2028		1,627,640		1,713,837
JMB Capital Partners Lending	15.0%	$0	Jul 2024		5,000,000		—
First Farmers Bank & Trust term loan	5.4%	—	—		—		2,891,763
Total debt				$	10,491,518	$	8,544,402
less: debt issuance costs					—		(37,236)
less: current portion					(5,330,124)		(795,300)
Long-term debt, net				$	5,161,394	$	7,711,866

In April 2024, the Parent and certain of its subsidiaries entered into a Loan and Security agreement (“Loan Agreement”) with JMB Capital Partners Lending, LLC (“JMB”) to fund working capital through a secured term loan of up to $10 million that was scheduled to mature on July 31, 2024 or, if earlier, upon the sale of certain collateral or upon an Event of Default (as defined in the Loan Agreement). Of the total loan amount, $5 million was advanced in April 2024 and $1.5 million was advanced in July 2024. The loan bore interest at a rate of 15% on its outstanding principal balance and was subject to a commitment fee equal to 5% and an exit fee equal to 8%. Of the initial loan advancement, approximately $2.8 million was used to pay the remaining outstanding balance of the Company’s term loan with First Farmers Bank & Trust. The outstanding loan balance with JMB of $6.5 million was repaid on July 26, 2024 from the net proceeds of the Indiana farm sale. See Note 13 for additional information.

In December 2023, our Canadian subsidiary, AQUA Bounty Canada Inc. (the “Canadian Subsidiary”), entered into a Contribution Agreement with the Atlantic Canada Opportunities Agency, whereby it is eligible to receive up to C$612 thousand ($452 thousand) to support business productivity and scale-up for its Rollo Bay farm (the “ACOA term loan #4”). On February 29, 2024, the Canadian

Subsidiary borrowed C$158,246 ($116,864) under the ACOA term loan #4. Borrowings are at a 3% interest rate, and monthly repayments commence in April 2025, with maturity in March 2034.

The Company recognized interest expense of $922 thousand and $132 thousand for the six months ended June 30, 2024 and 2023, respectively, on its interest-bearing debt.

Principal payments due on the long-term debt are as follows:


	Total
2024 remaining	$	5,159,551
2025		344,075
2026		290,355
2027		273,156
2028		1,546,111
Thereafter		2,878,270
Total	$	10,491,518

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/470/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

+ Details

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 728,339	$ 8,203,869
Inventory	124,916	1,733,603
Assets held for sale	35,086,031
Prepaid expenses and other current assets	798,545	1,700,273
Total current assets	36,737,831	11,637,745
Property, plant and equipment, net	90,233,868	174,381,382
Right of use assets, net	265,923	281,104
Intangible assets, net	197,584	204,436
Restricted cash		1,000,000
Other assets	2,202	46,761
Total assets	127,437,408	187,551,428
Current liabilities:
Accounts payable and accrued liabilities	12,875,295	12,991,819
Accrued employee compensation	460,024	754,621
Current debt	5,330,124	795,300
Other current liabilities	31,831	30,863
Total current liabilities	18,697,274	14,572,603
Long-term lease obligations	234,092	250,241
Long-term debt, net	5,161,394	7,711,866
Total liabilities	24,092,760	22,534,710
Commitments and contingencies
Stockholders’ equity:
Common stock, $0.001 par value, 75,000,000 shares authorized; 3,865,778 and 3,847,022 shares outstanding at June 30, 2024 and December 31, 2023, respectively	3,866	3,847
Additional paid-in capital	386,172,255	385,998,213
Accumulated other comprehensive loss	(579,106)	(405,464)
Accumulated deficit	(282,252,367)	(220,579,878)
Total stockholders’ equity	103,344,648	165,016,718
Total liabilities and stockholders’ equity	$ 127,437,408	$ 187,551,428

Leases

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

Leases

9. Leases

The tables below summarize the Company’s outstanding lease liabilities at June 30, 2024 and December 31, 2023 and its lease expense for the three and six months ended June 30, 2024 and 2023:


		June 30, 2024		December 31, 2023
Operating lease right-of-use assets, net	$	265,923	$	281,104
Right-of-use assets obtained for new lease liabilities		-		84,143

Other current liabilities		31,831		30,863
Operating lease liabilities		234,092		250,241
Total operating lease liabilities	$	265,923	$	281,104


Weighted average remaining lease term	22.3 years	25.5 years
Weighted average discount rate	8%	8%

Remaining payments under leases are as follows:


Year		Amount
2024 remaining	$	24,178
2025		49,801
2026		40,373
2027		19,102
2028		19,676
Thereafter		544,549
Total lease payments		697,679
Less: imputed interest		(431,756)
Total operational lease liabilities	$	265,923


		Three Months Ended June 30,
		2024		2023
Operating lease expense	$	11,938	$	4,243
Short-term lease expense		-		18,460
Lease payments included in operating cash flows		7,568		18,460


		Six Months Ended June 30,
		2024		2023
Operating lease expense	$	23,876	$	25,744
Short-term lease expense		-		18,460
Lease payments included in operating cash flows		23,876		44,605

Stockholders' Equity (Stock Option Activity) (Details) - Stock Options [Member]	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Number of options
Outstanding, beginning balance \| shares	75,669
Issued \| shares
Exercised \| shares
Forfeited \| shares	(341)
Expired \| shares	(1,688)
Outstanding, ending balance \| shares	73,640
Exercisable \| shares	52,880
Weighted average exercise price
Outstanding, beginning balance \| $ / shares	$ 41.64
Issued \| $ / shares
Exercised \| $ / shares
Forfeited \| $ / shares	7.20
Expired \| $ / shares	307.27
Outstanding, ending balance \| $ / shares	35.71
Exercisable \| $ / shares	$ 46.00

Stockholders' Equity (Information About Options Outstanding and Exercisable) (Details) - Stock Options [Member]	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding	73,640
Number of options exercisable	52,880
Less than $10.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding	33,839
Weighted average remaining estimated life (in years)	9 years
Number of options exercisable	15,143
$20.00 - $50.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding	35,217
Weighted average remaining estimated life (in years)	5 years 7 months 6 days
Number of options exercisable	33,153
$100.00 - $200.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding	2,369
Weighted average remaining estimated life (in years)	5 years 10 months 24 days
Number of options exercisable	2,369
$200.00 - $500.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding	2,215
Weighted average remaining estimated life (in years)	2 years 9 months 18 days
Number of options exercisable	2,215
Minimum [Member] \| $20.00 - $50.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options \| $ / shares	$ 20.00
Minimum [Member] \| $100.00 - $200.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options \| $ / shares	100.00
Minimum [Member] \| $200.00 - $500.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options \| $ / shares	200.00
Maximum [Member] \| Less than $10.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options \| $ / shares	10.00
Maximum [Member] \| $20.00 - $50.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options \| $ / shares	50.00
Maximum [Member] \| $100.00 - $200.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options \| $ / shares	200.00
Maximum [Member] \| $200.00 - $500.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options \| $ / shares	$ 500.00

Prepaid and Other Current Assets

6 Months Ended

Jun. 30, 2024

Prepaid and Other Current Assets [Abstract]

Prepaid and Other Current Assets

6. Prepaid and other current assets

Major classifications of prepaid and other current assets are summarized as follows:


	June 30, 2024		December 31, 2023
Receivables	$	52,942	$	1,216,585
Prepaid insurance		581,154		388,049
Prepaid supplies		87,898		85,988
Deposits and other		76,551		9,651
Total prepaid expenses and other current assets	$	798,545	$	1,700,273

Commitments and Contingencies

6 Months Ended

Jun. 30, 2024

Commitments and Contingencies [Abstract]

Commitments and Contingencies

11. Commitments and contingencies

The Company recognizes and discloses commitments when it enters into executed contractual obligations with other parties. The Company accrues contingent liabilities when it is probable that future expenditures will be made and such expenditures can be reasonably estimated.

The Company is subject to legal proceedings and claims arising in the normal course of business. Management believes that final disposition of any such matters existing at June 30, 2024, will not have a material adverse effect on the Company’s financial position or results of operations.