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 6 Months Ended
Dec. 31, 2021
Jun. 30, 2022
Jun. 30, 2021
Mar. 31, 2021
Jun. 30, 2022
Jun. 30, 2021
Dec. 31, 2020
Variable Interest Entity [Line Items]              
Financial Designation, Predecessor and Successor [Fixed List] Successor Successor Predecessor Predecessor Successor Predecessor  
ASSETS              
Cash $ 140,477,586 $ 63,145,379 $ 16,322,893   $ 63,145,379 $ 16,322,893  
Client Fees and Insurance Receivable, net 1,090,104 1,931,291     1,931,291    
Prepaid Expenses and Other Current Assets 6,959,067 5,080,149     5,080,149    
Property, Plant and Equipment, net 8,047,929 8,292,965     8,292,965    
TOTAL ASSETS [1] 2,364,108,460 1,444,209,840     1,444,209,840    
LIABILITIES AND MEMBERS' DEFICIT              
Accounts Payable and Accrued Expenses 17,730,683 20,693,070     20,693,070    
Accrued Payroll 6,304,362 3,263,338     3,263,338    
TOTAL LIABILITIES [1] 299,939,734 328,509,840     328,509,840    
MEMBERS' DEFICIT 273,551,441 108,624,475 (183,308,520) $ (154,407,902) 108,624,475 (183,308,520) $ (130,217,705)
TOTAL LIABILITIES AND MEMBERS' DEFICIT 2,364,108,460 1,444,209,840     1,444,209,840    
Total Operating Revenue   269,453,971 144,586,444   542,998,305 295,884,386  
Expenses   1,181,641,128 170,557,507   1,507,353,190 334,843,877  
Net loss attributable to Class A common stockholders - Diluted   (903,105,939) (29,464,410) $ (24,650,712) (963,896,193) (54,115,119)  
VIE              
ASSETS              
Cash 7,570,247 8,589,392     8,589,392    
Client Fees and Insurance Receivable, net 60,815 22,025     22,025    
Prepaid Expenses and Other Current Assets 406,372 513,781     513,781    
Property, Plant and Equipment, net 36,416 45,134     45,134    
Investment in Other P3 Entities 6,000,000 6,000,000     6,000,000    
TOTAL ASSETS 14,073,850 15,170,332     15,170,332    
LIABILITIES AND MEMBERS' DEFICIT              
Accounts Payable and Accrued Expenses 4,804,704 6,677,891     6,677,891    
Accrued Payroll 1,303,615 1,143,976     1,143,976    
Due to Consolidated Entities of P3 24,110,831 28,601,805     28,601,805    
TOTAL LIABILITIES 30,219,150 36,423,672     36,423,672    
MEMBERS' DEFICIT (16,145,300) (21,253,340)     (21,253,340)    
TOTAL LIABILITIES AND MEMBERS' DEFICIT $ 14,073,850 15,170,332     15,170,332    
Total Operating Revenue   12,955,029 2,081,167   25,868,574 4,119,517  
Expenses   16,057,134 1,870,227   30,976,614 7,190,869  
Net loss attributable to Class A common stockholders - Diluted   $ (3,102,105) $ 210,940   $ (5,108,040) $ (3,071,352)  
[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 numbers 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 $9.2 million and $8.1 million as of June 30, 2022 and December 31, 2021, respectively, and total liabilities of the P# LLC’s consolidated VIEs for which creditors do not have recourse to the general credit of the Company totaled $7.8 million and $6.1 million as of June 30, 2022 and December 31, 2021, respectively. These VIE assets and liabilities do not include $6.0 million of investment in affiliates as of June 30, 2022 and December 31, 2021, and $28.6 million and $24.1 million of amounts due to affiliates as of June 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.”