Annual report pursuant to Section 13 and 15(d)

Variable Interest Entities (Details)

v3.22.2.2
Variable Interest Entities (Details) - USD ($)
 1 Months Ended 11 Months Ended 12 Months Ended
Dec. 31, 2021
Dec. 02, 2021
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Variable Interest Entity [Line Items]          
Financial Designation, Predecessor and Successor [Fixed List] Successor Predecessor Predecessor Predecessor  
ASSETS          
Cash $ 140,477,586 $ 5,300,842 $ 36,261,104 $ 32,592,496  
Client Fees and Insurance Receivable, net 1,090,104   675,954    
Prepaid Expenses and Other Current Assets 6,959,067   5,192,782    
Property and Equipment, Net 8,047,929   6,150,587    
TOTAL ASSETS [1] 2,364,108,460   106,435,206    
LIABILITIES AND MEMBERS' DEFICIT          
Accounts Payable and Accrued Expenses 17,730,683   11,793,125    
Accrued Payroll 6,304,362   4,003,373    
TOTAL LIABILITIES [1] 299,939,734   145,955,087    
MEMBERS' DEFICIT 273,551,441 (272,916,391) (130,217,705) (99,073,637) $ (55,684,119)
TOTAL LIABILITIES AND MEMBERS' DEFICIT 2,364,108,460   106,435,206    
Total Operating Revenue 58,762,397 578,602,418 491,063,525 145,482,112  
Expenses 117,650,063 707,660,010 519,651,203 185,017,783  
Net Loss (57,937,929) (146,399,938) (31,411,542) (41,971,558)  
VIE          
ASSETS          
Cash 7,570,247   183,836    
Client Fees and Insurance Receivable, net 60,815   335,358    
Prepaid Expenses and Other Current Assets 406,372   285,363    
Property and Equipment, Net 36,416   22,309    
Investment in Other P3 Entities 6,000,000        
TOTAL ASSETS 14,073,850   826,866    
LIABILITIES AND MEMBERS' DEFICIT          
Accounts Payable and Accrued Expenses 4,804,704   686,680    
Accrued Payroll 1,303,615   1,019,940    
Due to Consolidated Entities of P3 24,110,831   19,354,259    
TOTAL LIABILITIES 30,219,150   21,060,879    
MEMBERS' DEFICIT (16,145,300)   (20,234,013)    
TOTAL LIABILITIES AND MEMBERS' DEFICIT 14,073,850   826,866    
Total Operating Revenue 843,747 7,580,124 7,611,427 4,389,688  
Expenses 1,202,951 12,293,365 13,100,138 13,035,788  
Net Loss $ (359,204) $ (4,713,241) $ (5,488,711) $ (8,646,100)  
[1] The Company’s consolidated balance sheets include the assets and liabilities of its consolidated variable interest entities (“VIEs”). As discussed in Note 28: 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 consolidated balance sheets include total assets that can be used only to settle obligations of P3 LLC’s consolidated VIEs totaling $8.1 million and $0.8 million as of December 31, 2021 and December 31, 2020, respectively, and total liabilities of P3 LLC’s consolidated VIEs for which creditors do not have recourse to the general credit of the Company totaled $6.1 million and $1.7 million as of December 31, 2021 and December 31, 2020, respectively. These VIE assets and liabilities do not include $6.0 million of investment in affiliates and $24.1 million of amounts due to affiliates as of December 31, 2021 and $19.4 million of amounts due to affiliates as of December 31, 2020 as these are eliminated in consolidation and not presented within the consolidated balance sheets. See Note 28 “Variable Interest Entities.”