Quarterly report pursuant to Section 13 or 15(d)

Variable Interest Entities (Details)

v3.22.2.2
Variable Interest Entities (Details) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Jun. 30, 2021
Mar. 31, 2021
Sep. 30, 2022
Sep. 30, 2021
Dec. 31, 2021
Dec. 31, 2020
Variable Interest Entity [Line Items]                
Financial Designation, Predecessor and Successor [Fixed List] Successor Predecessor     Successor Predecessor    
ASSETS                
Cash $ 34,357,237 $ 4,336,565     $ 34,357,237 $ 4,336,565 $ 140,477,586  
Client Fees and Insurance Receivable, net 1,049,253       1,049,253   1,090,104  
Prepaid Expenses and Other Current Assets 3,523,867       3,523,867   6,959,067  
Property, Plant and Equipment, net 9,515,276       9,515,276   8,047,929  
TOTAL ASSETS [1] 1,383,131,449       1,383,131,449   2,364,108,460  
LIABILITIES AND MEMBERS' DEFICIT                
Accounts Payable and Accrued Expenses 24,072,391       24,072,391   17,730,683  
Accrued Payroll 7,358,102       7,358,102   6,304,362  
TOTAL LIABILITIES [1] 330,976,485       330,976,485   299,939,734  
MEMBERS' DEFICIT 78,076,015 (215,007,793) $ (183,308,520) $ (154,407,902) 78,076,015 (215,007,793) 273,551,441 $ (130,217,705)
TOTAL LIABILITIES AND MEMBERS' DEFICIT 1,383,131,449       1,383,131,449   2,364,108,460  
Total Operating Revenue 248,260,073 156,185,955     791,258,378 452,070,338    
Expenses 308,272,010 184,309,497     1,815,625,200 519,153,369    
Net Loss (65,329,041) (32,054,361) $ (29,464,410) $ (24,650,712) (1,029,225,234) (86,169,483)    
VIE                
ASSETS                
Cash 5,413,965       5,413,965   7,570,247  
Client Fees and Insurance Receivable, net 16,653       16,653   60,815  
Prepaid Expenses and Other Current Assets 1,353,408       1,353,408   406,372  
Property, Plant and Equipment, net 44,494       44,494   36,416  
Investment in Other P3 Entities 6,000,000       6,000,000   6,000,000  
TOTAL ASSETS 12,828,520       12,828,520   14,073,850  
LIABILITIES AND MEMBERS' DEFICIT                
Accounts Payable and Accrued Expenses 7,653,560       7,653,560   4,804,704  
Accrued Payroll 2,233,567       2,233,567   1,303,615  
Due to Consolidated Entities of P3 27,001,570       27,001,570   24,110,831  
TOTAL LIABILITIES 36,888,697       36,888,697   30,219,150  
MEMBERS' DEFICIT (24,060,177)       (24,060,177)   (16,145,300)  
TOTAL LIABILITIES AND MEMBERS' DEFICIT 12,828,520       12,828,520   $ 14,073,850  
Total Operating Revenue 13,594,142 1,905,404     39,462,716 5,815,261    
Expenses 15,731,721 4,707,369     46,708,335 13,858,939    
Net Loss $ (2,137,579) $ (2,801,965)     $ (7,245,619) $ (8,043,678)    
[1] The Company’s condensed consolidated balance sheets include the assets and liabilities of its consolidated variable interest entities (“VIEs”). As discussed in Note 25 “Variable Interest Entities,” P3 LLC is itself a VIE. P3 LLC represents substantially all the assets and liabilities of the Company. As a result, the language and amounts below refer only to VIEs held at the P3 LLC level. The condensed consolidated balance sheets include total assets that can be used only to settle obligations of the P3 LLC’s VIEs totaling $6.8 million and $8.1 million as of September 30, 2022 and December 31, 2021, respectively, and total liabilities of the P3 LLC’s consolidated VIEs for which creditors do not have recourse to the general credit of the Company totaled $9.9 million and $6.1 million as of September 30, 2022 and December 31, 2021, respectively. These VIE assets and liabilities do not include $6.0 million of investment in affiliates as of September 30, 2022 and December 31, 2021, and $27.0 million and $24.1 million of amounts due to affiliates as of September 30, 2022 and December 31, 2021, respectively, as these are eliminated in consolidation and not presented within the condensed consolidated balance sheets. See Note 25 “Variable Interest Entities.”