Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.22.2.2
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2021
Income Taxes  
Schedule of components of loss before taxes

Successor

Predecessor

December 3, 2021

January 1, 2021

    

through December 31,

  

through December 2,

    

2021

  

  

2021

    

2020

    

2019

Domestic

$

(57,937,929)

$

(146,399,938)

$

(31,411,542)

$

(41,971,558)

Foreign

 

 

 

 

Total

$

(57,937,929)

$

(146,399,938)

$

(31,411,542)

$

(41,971,558)

Schedule of reconciliation between the income tax provision computed by applying the statutory federal rate and the actual provision

    

Successor

Predecessor

 

December 3, 2021

January 1, 2021

 

through December 31,

through December 2,

 

2021

  

  

2021

    

2020

    

2019

 

Tax at Federal statutory rate

$

(12,166,545)

$

(30,743,987)

$

(6,596,424)

$

(8,814,027)

State taxes, net of Federal Benefit

 

(98,755)

 

 

 

Allocable loss from investment in P3 LLC

 

1,550,420

 

 

 

SPAC warrants change in fair-value

 

(477,048)

 

 

 

Non-controlling interest and nontaxable income

 

8,359,391

 

30,743,987

 

6,596,424

 

8,814,027

Permanent book to tax differences

 

283

 

 

 

Change in valuation allowance

2,832,254

Total

$

$

$

$

Effective tax rate

 

 

%  

 

%  

 

%

Schedule of deferred income tax assets and liabilities

    

Successor

    

Predecessor

December 31, 

December 31, 

2021

2020

Deferred tax assets:

 

  

 

  

Investment in P3 LLC

$

$

Net operating loss carryforwards

 

6,921,601

 

Accrued liabilities

3,306,695

Section 163j Interest Limitation

 

1,232,477

 

Other deferred tax assets

 

3,970

 

Total deferred tax assets

 

11,464,743

 

Valuation allowance

 

(9,621,431)

 

Net deferred tax assets

 

1,843,312

 

Deferred tax liabilities:

 

  

 

  

Other deferred tax liabilities

(87,415)

Goodwill and identifiable intangible assets

 

(1,755,897)

 

Total deferred tax liabilities

 

(1,843,312)

 

Net deferred tax asset

$

$