AquaBounty (AQB) 10-Q 9 Aug 22 2022 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2022	Aug. 08, 2022
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Fiscal Period Focus	Q2
Document Period End Date	Jun. 30, 2022
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	2 Mill & Main Place
Entity Address, Address Line Two	Suite 395
Entity Address, City or Town	Maynard
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01754
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	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		71,110,713
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Entity Central Index Key	0001603978

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 118,888,889	$ 88,454,988
Marketable securities	29,354,888	101,773,781
Inventory	1,918,395	1,259,910
Prepaid expenses and other current assets	4,447,399	1,536,484
Total current assets	154,609,571	193,025,163
Property, plant and equipment, net	63,978,895	33,815,119
Right of use assets, net	254,221	284,320
Intangible assets, net	224,991	231,842
Restricted cash	1,000,000	1,000,000
Other assets	72,083	79,548
Total assets	220,139,761	228,435,992
Current liabilities:
Accounts payable and accrued liabilities	6,883,125	4,317,615
Accrued employee compensation	783,449	874,589
Current debt	688,390	627,365
Other current liabilities	52,260	66,269
Total current liabilities	8,407,224	5,885,838
Long-term lease obligations	205,565	224,058
Long-term debt, net	8,114,797	8,523,333
Total liabilities	16,727,586	14,633,229
Commitments and contingencies
Stockholders’ equity:
Common stock, $0.001 par value, 150,000,000 and 80,000,000 shares authorized at June 30, 2022 and December 31, 2021, respectively; 71,110,713 and 71,025,738 shares outstanding at June 30, 2022 and December 31, 2021, respectively	71,111	71,026
Additional paid-in capital	385,172,168	384,852,107
Accumulated other comprehensive loss	(318,554)	(255,588)
Accumulated deficit	(181,512,550)	(170,864,782)
Total stockholders’ equity	203,412,175	213,802,763
Total liabilities and stockholders’ equity	$ 220,139,761	$ 228,435,992

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Condensed Consolidated Balance Sheets [Abstract]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	150,000,000	80,000,000
Common stock, shares outstanding (in shares)	71,110,713	71,025,738

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues
Product revenues	$ 1,069,706	$ 227,393	$ 2,032,587	$ 301,765
Costs and expenses
Product costs	3,250,106	1,847,596	6,525,796	3,402,251
Sales and marketing	349,917	548,881	597,489	867,516
Research and development	208,292	431,373	375,481	931,993
General and administrative	2,831,930	2,578,958	5,208,166	4,364,468
Total costs and expenses	6,640,245	5,406,808	12,706,932	9,566,228
Operating loss	(5,570,539)	(5,179,415)	(10,674,345)	(9,264,463)
Other income (expense)
Interest expense	(74,694)	(80,210)	(149,982)	(159,014)
Other income, net	109,191	28,888	176,559	33,849
Total other income (expense)	34,497	(51,322)	26,577	(125,165)
Net loss	(5,536,042)	(5,230,737)	(10,647,768)	(9,389,628)
Other comprehensive (loss) income:
Foreign currency translation (loss) gain	(153,602)	65,924	(70,697)	145,963
Unrealized gain on marketable securities	121,796	8,970	7,731	8,970
Total other comprehensive (loss) income	(31,806)	74,894	(62,966)	154,933
Comprehensive loss	$ (5,567,848)	$ (5,155,843)	$ (10,710,734)	$ (9,234,695)
Basic and diluted net loss per share	$ (0.08)	$ (0.07)	$ (0.15)	$ (0.14)
Weighted Average Number of Common Shares -
basic and diluted	71,068,671	71,021,141	71,036,562	67,803,904

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($)	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive Loss [Member]	Accumulated Deficit [Member]	Total
Beginning balance (in shares) at Dec. 31, 2020	55,497,133
Beginning balance at Dec. 31, 2020	$ 55,497	$ 263,629,116	$ (267,258)	$ (148,542,194)	$ 114,875,161
Net loss				(4,158,891)	(4,158,891)
Other comprehensive income (loss)			80,039		80,039
Issuance of common stock, net of expenses (in shares)	14,950,000
Issuance of common stock, net of expenses	$ 14,950	119,105,487			119,120,437
Cashless exercise of options for common stock (in shares)	4,354
Cashless exercise of options for common stock	$ 4	(4)
Exercise of warrants for common stock (in shares)	491,133
Exercise of warrants for common stock	$ 491	1,595,691			1,596,182
Share based compensation (in shares)	40,525
Share based compensation	$ 41	129,674			129,715
Ending balance (in shares) at Mar. 31, 2021	70,983,145
Ending balance at Mar. 31, 2021	$ 70,983	384,459,964	(187,219)	(152,701,085)	231,642,643
Beginning balance (in shares) at Dec. 31, 2020	55,497,133
Beginning balance at Dec. 31, 2020	$ 55,497	263,629,116	(267,258)	(148,542,194)	114,875,161
Net loss					(9,389,628)
Other comprehensive income (loss)					154,933
Ending balance (in shares) at Jun. 30, 2021	71,025,738
Ending balance at Jun. 30, 2021	$ 71,026	384,674,939	(112,325)	(157,931,822)	226,701,818
Beginning balance (in shares) at Mar. 31, 2021	70,983,145
Beginning balance at Mar. 31, 2021	$ 70,983	384,459,964	(187,219)	(152,701,085)	231,642,643
Net loss				(5,230,737)	(5,230,737)
Other comprehensive income (loss)			74,894		74,894
Exercise of warrants for common stock (in shares)	39,281
Exercise of warrants for common stock	$ 39	127,625			127,664
Share based compensation (in shares)	3,312
Share based compensation	$ 4	87,350			87,354
Ending balance (in shares) at Jun. 30, 2021	71,025,738
Ending balance at Jun. 30, 2021	$ 71,026	384,674,939	(112,325)	(157,931,822)	226,701,818
Beginning balance (in shares) at Dec. 31, 2021	71,025,738
Beginning balance at Dec. 31, 2021	$ 71,026	384,852,107	(255,588)	(170,864,782)	213,802,763
Net loss				(5,111,726)	(5,111,726)
Other comprehensive income (loss)			(31,160)		(31,160)
Share based compensation (in shares)	83,963
Share based compensation	$ 84	211,244			211,328
Ending balance (in shares) at Mar. 31, 2022	71,109,701
Ending balance at Mar. 31, 2022	$ 71,110	385,063,351	(286,748)	(175,976,508)	208,871,205
Beginning balance (in shares) at Dec. 31, 2021	71,025,738
Beginning balance at Dec. 31, 2021	$ 71,026	384,852,107	(255,588)	(170,864,782)	213,802,763
Net loss					(10,647,768)
Other comprehensive income (loss)					(62,966)
Ending balance (in shares) at Jun. 30, 2022	71,110,713
Ending balance at Jun. 30, 2022	$ 71,111	385,172,168	(318,554)	(181,512,550)	203,412,175
Beginning balance (in shares) at Mar. 31, 2022	71,109,701
Beginning balance at Mar. 31, 2022	$ 71,110	385,063,351	(286,748)	(175,976,508)	208,871,205
Net loss				(5,536,042)	(5,536,042)
Other comprehensive income (loss)			(31,806)		(31,806)
Exercise of warrants for common stock (in shares)	1,012
Exercise of warrants for common stock	$ 1	1,537			1,538
Share based compensation		107,280			107,280
Ending balance (in shares) at Jun. 30, 2022	71,110,713
Ending balance at Jun. 30, 2022	$ 71,111	$ 385,172,168	$ (318,554)	$ (181,512,550)	$ 203,412,175

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Operating activities
Net loss	$ (10,647,768)	$ (9,389,628)
Adjustment to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	988,292	857,842
Share-based compensation	318,608	217,069
Other non-cash charge	14,860	8,565
Changes in operating assets and liabilities:
Inventory	(661,090)	(1,122,422)
Prepaid expenses and other assets	(2,883,505)	(876,139)
Accounts payable and accrued liabilities	1,705,335	(150,951)
Accrued employee compensation	(91,140)	(2,169)
Net cash used in operating activities	(11,256,408)	(10,457,833)
Investing activities
Purchases and deposits on property, plant and equipment	(30,472,704)	(2,437,911)
Maturities of marketable securities	120,047,915	139,542
Purchases of marketable securities	(47,621,291)	(71,842,187)
Other investing activities	12,500	(11,010)
Net cash provided by (used in) investing activities	41,966,420	(74,151,566)
Financing activities
Proceeds from issuance of debt	42,338	406,378
Repayment of term debt	(318,600)	(79,600)
Proceeds from the issuance of common stock, net		119,120,437
Proceeds from the exercise of stock options and warrants	1,538	1,723,846
Net cash (used in) provided by financing activities	(274,724)	121,171,061
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(1,387)	32,529
Net change in cash, cash equivalents and restricted cash	30,433,901	36,594,191
Cash, cash equivalents and restricted cash at beginning of period	89,454,988	96,251,160
Cash, cash equivalents and restricted cash at end of period	119,888,889	132,845,351
Reconciliation of cash, cash equivalents and restricted cash reported in the consolidated balance sheet:
Cash and cash equivalents	118,888,889	132,345,351
Restricted cash	1,000,000	500,000
Cash, cash equivalents and restricted cash at end of period	119,888,889	132,845,351
Supplemental disclosure of cash flow information and non-cash transactions:
Interest paid in cash	141,490	149,533
Property and equipment included in accounts payable and accrued liabilities	$ 3,758,842	$ 388,495

Nature of Business and Organiza

Nature of Business and Organization	6 Months Ended
	Jun. 30, 2022
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 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 (“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 in Canada. In 2021, the Parent obtained regulatory approval from the National Biosafety Technical Commission for the sale of its GE Atlantic salmon in Brazil. In 2021, the Company began harvesting and selling its GE Atlantic salmon in the United States and Canada.

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2022
Basis of Presentation [Abstract]
Basis of Presentation	2. Basis of presentation 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. 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, 2021. 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, 2022, 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 U.S. Securities and Exchange Commission (“SEC”) rules and regulations; however, the Company believes that its disclosures are adequate to ensure that the information presented is not misleading. Liquidity The Company had $ 149.2 million in cash and cash equivalents, marketable securities and restricted cash as of June 30, 2022. The Company’s plans include the construction of a 10,000 metric ton salmon farm in Ohio at a cost that is currently expected to exceed $ 320 million. The Company is exploring alternatives to reduce this cost, including phasing the construction of the 10,000 metric ton farm with an initial production output level that would demonstrate the Company’s competitive advantage and ability to operate at commercial scale. The Company plans to use cash-on-hand, marketable securities and debt financing to fund the construction. To date, the Company has invested over $ 30 million in the project. Though the Company has experienced net losses and negative cash flows from operations since inception, management believes that it has sufficient uncommitted cash to meet the Company's requirements beyond the next twelve months from the filing date of these condensed consolidated financial statements. However, until such time as the Company reaches profitability, it will require additional financing to fund its operations and execute its business plan. Inventories Inventories are mainly comprised of feed, eggs, fish in process and finished goods. Fish in process inventory is measured based on the estimated biomass of fish on hand. The Company has established a standard procedure to estimate the biomass of fish on hand using counting and sampling techniques. The Company measures inventory at the lower of cost or net realizable value (NRV). The NRV calculation contains various estimates and assumptions in regard to the calculation of the biomass, including expected yield, the market value of the biomass and estimated costs of completion and transportation. The Company considers fish that has been harvested and transported from its farm to be finished goods inventory. Revenue recognition The Company 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 period ended June 30, 2022, the Company recognized the following product revenue: Three Months Ended June 30, 2022 U.S. Canada Total GE Atlantic salmon $ 812,415 $ 207,854 $ 1,020,269 Non-GE Atlantic salmon eggs - 37,980 37,980 Other revenue - 11,457 11,457 Total Revenue $ 812,415 $ 257,291 $ 1,069,706 Six Months Ended June 30, 2022 U.S. Canada Total GE Atlantic salmon $ 1,601,392 $ 339,714 $ 1,941,106 Non-GE Atlantic salmon eggs - 46,692 46,692 Non-GE Atlantic salmon fry - 33,095 33,095 Other revenue - 11,694 11,694 Total Revenue $ 1,601,392 $ 431,195 $ 2,032,587 During the period ended June 30, 2022, the Company had the following customer concentration of revenue: Three Months Ended June 30, 2022 Customer A 39 % Customer B 18 % Customer C 14 % All other 29 % Total of all customers 100 % Six Months Ended June 30, 2022 Customer A 37 % Customer B 19 % Customer C 12 % All other 32 % Total of all customers 100 % Net loss per share Basic net loss per share available to common stockholders has been calculated by dividing net loss by the weighted average number of Common Shares outstanding during the year. Fully diluted net loss per share includes the number of Common Shares issuable upon the exercise of warrants and options with an exercise price less than the fair value of the Common Shares, unless the impact of the warrant or option is anti-dilutive to the calculation. Since the Company is reporting a net loss for all periods presented, all potential Common Shares are considered anti-dilutive and are excluded from the calculation of diluted net loss per share. The following outstanding potentially dilutive securities have been excluded from the calculation of diluted net loss per share, as their effect is anti-dilutive: Three Months Ended Average Outstanding June 30, 2022 June 30, 2021 Stock options 869,683 683,146 Warrants 418,441 438,082 Unvested restricted shares 185,611 69,760 Six Months Ended Average Outstanding June 30, 2022 June 30, 2021 Stock options 800,930 674,568 Warrants 418,441 608,339 Unvested restricted shares 145,440 70,724 Accounting Pronouncements 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.

Risks and Uncertainties

Risks and Uncertainties	6 Months Ended
	Jun. 30, 2022
Risks and Uncertainties [Abstract]
Risks and Uncertainties	3. 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. COVID-19 Although the COVID-19 pandemic has diminished in the United States and other parts of the world as vaccines have become more readily available, several variants of the virus continue to spread. Local governmental authorities in the United States and Canada have issued, and continue to update, directives aimed at minimizing the spread of the virus and the Company continues to monitor its status. The ultimate impact of the evolving COVID-19 pandemic on the Company’s operations will depend on future developments, which cannot be predicted with confidence, and the Company cannot predict the extent or impact of the extended period of continued business interruption and reduced operations caused by the COVID-19 pandemic or any additional preventative or protective measures taken in response. In connection with the COVID-19 pandemic, management continues to make modifications to biosecurity procedures and employee welfare practices at the Company’s farm sites to adapt to local requirements and to provide a safe work environment. Concentration of credit risk Financial instruments that potentially subject the Company to credit risk consist principally of cash, cash equivalents, and marketable securities. This risk is mitigated by the Company’s policy of maintaining all balances with highly rated financial institutions, investing cash equivalents with maturities of less than 90 days, and investing marketable securities with maturities of less than 180 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 $ 186 thousand and $ 224 thousand as of June 30, 2022 and December 31, 2021, respectively. The Company also holds cash equivalent investments in a highly liquid investment account at a major financial institution. As of June 30, 2022 and December 31, 2021 the cash equivalent investment balance was $ 15.9 million and $ 73.3 million, respectively.

Marketable Securities

Marketable Securities	6 Months Ended
	Jun. 30, 2022
Marketable Securities [Abstract]
Marketable Securities	4. Marketable Securities Marketable securities are classified as available-for-sale. The following tables summarize the amortized cost, gross unrealized gains and losses, and the fair value (level 2) as of June 30, 2022 and December 31, 2021: Amortized Unrealized Unrealized Market Cost Gains Losses Value December 31, 2021 Government bonds $ 28,453,161 $ 82 $ ( 18,255 ) $ 28,434,988 Corporate bonds 29,874,696 - ( 21,928 ) 29,852,768 Commercial paper 43,486,025 - - 43,486,025 Marketable securities $ 101,813,882 $ 82 $ ( 40,183 ) $ 101,773,781 June 30, 2022 Government bonds $ 13,165,731 $ 7 $ ( 7,017 ) $ 13,158,721 Corporate bonds 12,228,227 - - 12,228,227 Commercial paper 3,993,300 - ( 25,360 ) 3,967,940 Marketable securities $ 29,387,258 $ 7 $ ( 32,377 ) $ 29,354,888

Inventory

Inventory	6 Months Ended
	Jun. 30, 2022
Inventory [Abstract]
Inventory	5. Inventory Major classifications of inventory are summarized as follows: June 30, 2022 December 31, 2021 Feed, net $ 283,654 162,047 Eggs and fry 83,936 — Fish in process 1,506,218 926,360 Finished goods 44,587 171,503 Inventory, net $ 1,918,395 1,259,910

Property, Plant and Equipment

Property, Plant and Equipment	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	6. Property, plant and equipment Major classifications of property, plant and equipment are summarized as follows: June 30, 2022 December 31, 2021 Land $ 2,970,070 $ 725,799 Building and improvements 15,564,196 15,580,385 Construction in process 36,196,500 8,119,575 Equipment 16,758,695 15,981,408 Office furniture and equipment 242,939 240,939 Vehicles 35,736 36,280 Total property and equipment $ 71,768,136 $ 40,684,386 Less accumulated depreciation and amortization ( 7,789,241 ) ( 6,869,267 ) Property, plant and equipment, net $ 63,978,895 $ 33,815,119 Depreciation expense was $ 957 thousand and $ 845 thousand, for the six-month period ended June 30, 2022 and 2021, respectively. Included in construction in process is $ 2.0 million for construction related to the Rollo Bay farm site and improvements to the Fortune Bay hatchery, $ 456 thousand for construction related to the Indiana farm site, and $ 33.7 million related to design work and construction activities for the Ohio farm. An additional $ 1.0 million has been contractually committed for the Indiana and Rollo Bay farm sites and $ 16.4 million has been committed for the construction of the Ohio farm.

Debt

Debt	6 Months Ended
	Jun. 30, 2022
Debt [Abstract]
Debt	7. Debt The current material terms and conditions of debt outstanding are as follows: Interest rate Monthly repayment Maturity date June 30, 2022 December 31, 2021 ACOA AIF Grant 0 % Royalties - $ 2,227,461 $ 2,261,349 ACOA term loan #1 0 % C$ 3,120 Feb 2027 135,544 152,346 ACOA term loan #2 0 % C$ 4,630 Sep 2029 312,388 339,015 ACOA term loan #3 0 % C$ 6,945 Dec 2025 193,900 196,850 Kubota Canada Ltd 0 % C$ 1,142 Jan 2025 27,467 33,283 DFO term loan 0 % C$ 2,091 Aug 2032 441,081 405,700 PEI Finance term loan 4 % C$ 16,313 Nov 2023 1,880,359 1,947,510 First Farmers Bank & Trust term loan 5.375 % $ 56,832 Oct 2028 3,645,175 3,883,325 Total debt $ 8,863,375 $ 9,219,378 less: debt issuance costs ( 60,188 ) ( 68,680 ) less: current portion ( 688,390 ) ( 627,365 ) Long-term debt, net $ 8,114,797 $ 8,523,333 Estimated principal payments remaining on debt outstanding are as follows: Total 2022 remaining $ 324,060 2023 2,537,186 2024 731,107 2025 751,804 2026 718,019 Thereafter 3,801,199 Total $ 8,863,375 In September 2020, the Canadian Subsidiary entered into a Contribution Agreement with the Department of Fisheries and Ocean's Atlantic Fisheries Fund, whereby it is eligible to receive up to C$ 1.9 million ($ 1.4 million) to finance new equipment for its Rollo Bay farm (the “DFO Term Loan”). O n April 6, 2022, the Canadian Subsidiary borrowed an additional C$ 53,456 ($ 42,338 ) under the DFO Term Loan. Borrowings are interest free and monthly repayments commence in March 2023, with maturity in August 2032 . All funding requests must be submitted by August 22, 2022. In August 2020, the Indiana Subsidiary entered into a term loan agreement with First Farmers Bank and Trust (“FFBT”) in the amount of $ 4 million, which is secured by the assets of the Indiana subsidiary and a corporate guarantee. The agreement contains certain financial and non-financial covenants, which if not met, could result in an event of default pursuant to the terms of the loan. At June 30, 2022, the Indiana subsidiary was in compliance with its loan covenants. The Company recognized interest expense of $ 150 thousand and $ 159 thousand for the six months ended June 30, 2022 and 2021, respectively, on its interest-bearing debt.

Leases

Leases	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Leases	8. Leases Lease expense for the six months ended June 30, 2022 and 2021, amounted to $ 43 thousand. The weighted average remaining lease term of the Company’s operating leases was 24 years as of June 30, 2022. Lease payments included in operating cash flows totaled $ 42 thousand for the six months ended June 30, 2022 and 2021. The table below summarizes the Company’s lease obligations and remaining payments at June 30, 2022 and December 31, 2021: June 30, 2022 December 31, 2021 Lease Liability Lease Liability Total leases $ 257,825 $ 290,327 Less: current portion ( 52,260 ) ( 66,269 ) Long-term leases $ 205,565 $ 224,058 Remaining payments under leases are as follows: Year Amount 2022 remaining $ 33,767 2023 20,831 2024 4,495 2025 4,340 2026 4,215 Thereafter 190,177 Total lease payments $ 257,825

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2022
Stockholders' Equity [Abstract]
Stockholders' Equity	9. Stockholders’ equity Recent issuances On February 8, 2021, the Company completed a public offering of 14,950,000 Common Shares for net proceeds of approximately $ 119.1 million. Warrants At June 30, 2022 and December 31, 2021, there were 418,441 warrants outstanding at an exercise price of $ 3.25 , all of which were issued in conjunction with a public equity offering in January 2018. All remaining warrants have an expiration date of January 17, 2023 . Share-based compensation At June 30, 2022, the Company has reserved 866,186 Common Shares issuable upon the exercise of outstanding stock options awarded under its 2006 and 2016 Equity Incentive Plans. An additional 466,267 Common Shares are reserved for future award and issuance under the 2016 Equity Incentive Plan. Restricted stock A summary of the Company’s restricted Common Shares for the six months ended June 30, 2022, is as follows: Shares Weighted average grant date fair value Unvested at December 31, 2021 65,100 $ 4.10 Granted 247,488 1.52 Vested ( 126,012 ) 2.25 Forfeited — — Unvested at June 30, 2022 186,576 $ 1.93 During the six months ended June 30, 2022 and 2021, the Company expensed $ 230 thousand and $ 149 thousand, respectively, related to the restricted stock awards. At June 30, 2022, the balance of unearned share-based compensation to be expensed in future periods related to the restricted stock awards is $ 294 thousand. The period over which the unearned share-based compensation is expected to be earned is approximately 2.7 years. Stock options The Company’s option activity is summarized as follows: Number of options Weighted average exercise price Outstanding at December 31, 2021 663,425 $ 4.31 Issued 209,755 1.55 Exercised ( 1,012 ) 1.52 Forfeited ( 5,982 ) 1.52 Expired — — Outstanding at June 30, 2022 866,186 $ 3.66 Exercisable at June 30, 2022 651,523 $ 4.22 Unless otherwise indicated, options issued to employees, members of the Board of Directors, and non-employees are vested daily over one to six years and are exercisable for a term of ten years from the date of issuance. The fair values of stock option grants to employees and members of the Board of Directors during 2022 were measured on the date of grant using Black-Scholes, with the following weighted average assumptions: 2022 Expected volatility 103 % Risk free interest rate 2.10 % Expected dividend yield 0 % Expected life (in years) 5 The weighted average fair value of stock options granted during the six months ended June 30, 2022 was $ 1.12 . The total intrinsic value of all options outstanding was $ 38 thousand and $ 18 thousand at June 30, 2022, and December 31, 2021, respectively. The total intrinsic value of exercisable options was $ 4 thousand and $ 11 thousand at June 30, 2022 and December 31, 2021, respectively. The following table summarizes information about options outstanding and exercisable at June 30, 2022: Weighted average exercise price of outstanding options Number of options outstanding Weighted average remaining estimated life (in years) Number of options exercisable $ 1.52 - $ 2.50 725,294 7.6 528,597 $ 5.44 - $ 6.72 55,402 7.9 37,436 $ 7.50 - $ 10.80 16,403 1.8 16,403 $ 14.20 - $ 23.40 69,087 3.7 69,087 866,186 651,523 Total share-based compensation on stock options amounted to $ 88 thousand and $ 68 thousand for the six months ended June 30, 2022 and 2021, respectively. At June 30, 2022, the balance of unearned share-based compensation to be expensed in future periods related to unvested share-based awards was $ 322 thousand. The period over which the unearned share-based compensation is expected to be earned is approximately 2.7 years.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies [Abstract]
Commitments and Contingencies	10. 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. The Company records estimated losses from these legal proceedings and claims when it determines that it is probable a liability has been incurred and the amount of loss can be reasonably estimated. Litigation is subject to many factors that are difficult to predict so that there can be no assurance, in the event of a material unfavorable result in one or more claims, the Company will not incur material costs. There have been no other material changes to the commitments and contingencies disclosed in the Company’s Annual Report on Form 10-K as of and for the year ended December 31, 2021.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2022
Income Taxes [Abstract]
Income Taxes	11. Income Taxes The Company estimates an annual effective tax rate of 0 % for the year ending December 31, 2022 as the Company incurred losses for the six months ended June 30, 2022 and is forecasting additional losses through the remainder of the year ending December 31, 2022, resulting in an estimated net loss for both financial statement and tax purposes for the year ending December 31, 2022. 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, 2022, the Company had no unrecognized income tax benefits that would reduce the Company’s effective tax rate if recognized.

Nature of Business and Organi_2

Nature of Business and Organization (Policy)	6 Months Ended
	Jun. 30, 2022
Nature of Business and Organization [Abstract]
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 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 (“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 in Canada. In 2021, the Parent obtained regulatory approval from the National Biosafety Technical Commission for the sale of its GE Atlantic salmon in Brazil. In 2021, the Company began harvesting and selling its GE Atlantic salmon in the United States and Canada.

Basis of Presentation (Policy)

Basis of Presentation (Policy)	6 Months Ended
	Jun. 30, 2022
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, 2021. 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, 2022, 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 U.S. Securities and Exchange Commission (“SEC”) rules and regulations; however, the Company believes that its disclosures are adequate to ensure that the information presented is not misleading.
Liquidity	Liquidity The Company had $ 149.2 million in cash and cash equivalents, marketable securities and restricted cash as of June 30, 2022. The Company’s plans include the construction of a 10,000 metric ton salmon farm in Ohio at a cost that is currently expected to exceed $ 320 million. The Company is exploring alternatives to reduce this cost, including phasing the construction of the 10,000 metric ton farm with an initial production output level that would demonstrate the Company’s competitive advantage and ability to operate at commercial scale. The Company plans to use cash-on-hand, marketable securities and debt financing to fund the construction. To date, the Company has invested over $ 30 million in the project. Though the Company has experienced net losses and negative cash flows from operations since inception, management believes that it has sufficient uncommitted cash to meet the Company's requirements beyond the next twelve months from the filing date of these condensed consolidated financial statements. However, until such time as the Company reaches profitability, it will require additional financing to fund its operations and execute its business plan.
Inventories	Inventories Inventories are mainly comprised of feed, eggs, fish in process and finished goods. Fish in process inventory is measured based on the estimated biomass of fish on hand. The Company has established a standard procedure to estimate the biomass of fish on hand using counting and sampling techniques. The Company measures inventory at the lower of cost or net realizable value (NRV). The NRV calculation contains various estimates and assumptions in regard to the calculation of the biomass, including expected yield, the market value of the biomass and estimated costs of completion and transportation. The Company considers fish that has been harvested and transported from its farm to be finished goods inventory.
Revenue Recognition	Revenue recognition The Company 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.
Net Loss Per Share	Net loss per share Basic net loss per share available to common stockholders has been calculated by dividing net loss by the weighted average number of Common Shares outstanding during the year. Fully diluted net loss per share includes the number of Common Shares issuable upon the exercise of warrants and options with an exercise price less than the fair value of the Common Shares, unless the impact of the warrant or option is anti-dilutive to the calculation. Since the Company is reporting a net loss for all periods presented, all potential Common Shares are considered anti-dilutive and are excluded from the calculation of diluted net loss per share.
Accounting Pronouncements	Accounting Pronouncements 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.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	6 Months Ended
	Jun. 30, 2022
Basis of Presentation [Abstract]
Schedule of Product Information	Three Months Ended June 30, 2022 U.S. Canada Total GE Atlantic salmon $ 812,415 $ 207,854 $ 1,020,269 Non-GE Atlantic salmon eggs - 37,980 37,980 Other revenue - 11,457 11,457 Total Revenue $ 812,415 $ 257,291 $ 1,069,706 Six Months Ended June 30, 2022 U.S. Canada Total GE Atlantic salmon $ 1,601,392 $ 339,714 $ 1,941,106 Non-GE Atlantic salmon eggs - 46,692 46,692 Non-GE Atlantic salmon fry - 33,095 33,095 Other revenue - 11,694 11,694 Total Revenue $ 1,601,392 $ 431,195 $ 2,032,587
Schedule of Customer Concentration of Revenue	Three Months Ended June 30, 2022 Customer A 39 % Customer B 18 % Customer C 14 % All other 29 % Total of all customers 100 % Six Months Ended June 30, 2022 Customer A 37 % Customer B 19 % Customer C 12 % All other 32 % Total of all customers 100 %
Schedule of Impact of Potentially Dilutive Securities Outstanding	Three Months Ended Average Outstanding June 30, 2022 June 30, 2021 Stock options 869,683 683,146 Warrants 418,441 438,082 Unvested restricted shares 185,611 69,760 Six Months Ended Average Outstanding June 30, 2022 June 30, 2021 Stock options 800,930 674,568 Warrants 418,441 608,339 Unvested restricted shares 145,440 70,724

Marketable Securities (Tables)

Marketable Securities (Tables)	6 Months Ended
	Jun. 30, 2022
Marketable Securities [Abstract]
Schedule of Marketable Securities	Amortized Unrealized Unrealized Market Cost Gains Losses Value December 31, 2021 Government bonds $ 28,453,161 $ 82 $ ( 18,255 ) $ 28,434,988 Corporate bonds 29,874,696 - ( 21,928 ) 29,852,768 Commercial paper 43,486,025 - - 43,486,025 Marketable securities $ 101,813,882 $ 82 $ ( 40,183 ) $ 101,773,781 June 30, 2022 Government bonds $ 13,165,731 $ 7 $ ( 7,017 ) $ 13,158,721 Corporate bonds 12,228,227 - - 12,228,227 Commercial paper 3,993,300 - ( 25,360 ) 3,967,940 Marketable securities $ 29,387,258 $ 7 $ ( 32,377 ) $ 29,354,888

Inventory (Tables)

Inventory (Tables)	6 Months Ended
	Jun. 30, 2022
Inventory [Abstract]
Schedule of Inventory	June 30, 2022 December 31, 2021 Feed, net $ 283,654 162,047 Eggs and fry 83,936 — Fish in process 1,506,218 926,360 Finished goods 44,587 171,503 Inventory, net $ 1,918,395 1,259,910

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	June 30, 2022 December 31, 2021 Land $ 2,970,070 $ 725,799 Building and improvements 15,564,196 15,580,385 Construction in process 36,196,500 8,119,575 Equipment 16,758,695 15,981,408 Office furniture and equipment 242,939 240,939 Vehicles 35,736 36,280 Total property and equipment $ 71,768,136 $ 40,684,386 Less accumulated depreciation and amortization ( 7,789,241 ) ( 6,869,267 ) Property, plant and equipment, net $ 63,978,895 $ 33,815,119

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2022
Debt [Abstract]
Terms and Conditions of Long-term Debt Outstanding	Interest rate Monthly repayment Maturity date June 30, 2022 December 31, 2021 ACOA AIF Grant 0 % Royalties - $ 2,227,461 $ 2,261,349 ACOA term loan #1 0 % C$ 3,120 Feb 2027 135,544 152,346 ACOA term loan #2 0 % C$ 4,630 Sep 2029 312,388 339,015 ACOA term loan #3 0 % C$ 6,945 Dec 2025 193,900 196,850 Kubota Canada Ltd 0 % C$ 1,142 Jan 2025 27,467 33,283 DFO term loan 0 % C$ 2,091 Aug 2032 441,081 405,700 PEI Finance term loan 4 % C$ 16,313 Nov 2023 1,880,359 1,947,510 First Farmers Bank & Trust term loan 5.375 % $ 56,832 Oct 2028 3,645,175 3,883,325 Total debt $ 8,863,375 $ 9,219,378 less: debt issuance costs ( 60,188 ) ( 68,680 ) less: current portion ( 688,390 ) ( 627,365 ) Long-term debt, net $ 8,114,797 $ 8,523,333
Principal Payments Due on Long-term Debt	Total 2022 remaining $ 324,060 2023 2,537,186 2024 731,107 2025 751,804 2026 718,019 Thereafter 3,801,199 Total $ 8,863,375

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Summary of Lease Obligations and Remaining Payments	June 30, 2022 December 31, 2021 Lease Liability Lease Liability Total leases $ 257,825 $ 290,327 Less: current portion ( 52,260 ) ( 66,269 ) Long-term leases $ 205,565 $ 224,058
Summary of Remaining Payments under Leases	Year Amount 2022 remaining $ 33,767 2023 20,831 2024 4,495 2025 4,340 2026 4,215 Thereafter 190,177 Total lease payments $ 257,825

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2022
Stockholders' Equity [Abstract]
Restricted Stock Activity	Shares Weighted average grant date fair value Unvested at December 31, 2021 65,100 $ 4.10 Granted 247,488 1.52 Vested ( 126,012 ) 2.25 Forfeited — — Unvested at June 30, 2022 186,576 $ 1.93
Stock Option Activity	Number of options Weighted average exercise price Outstanding at December 31, 2021 663,425 $ 4.31 Issued 209,755 1.55 Exercised ( 1,012 ) 1.52 Forfeited ( 5,982 ) 1.52 Expired — — Outstanding at June 30, 2022 866,186 $ 3.66 Exercisable at June 30, 2022 651,523 $ 4.22
Stock Option Grants Weighted Average Assumptions	2022 Expected volatility 103 % Risk free interest rate 2.10 % Expected dividend yield 0 % Expected life (in years) 5
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 $ 1.52 - $ 2.50 725,294 7.6 528,597 $ 5.44 - $ 6.72 55,402 7.9 37,436 $ 7.50 - $ 10.80 16,403 1.8 16,403 $ 14.20 - $ 23.40 69,087 3.7 69,087 866,186 651,523

Basis of Presentation (Details)

Basis of Presentation (Details) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)
Cash, cash equivalents and marketable securities	$ 149.2
New 10,000 Metric Ton Farm [Member]
Amount invested in project	30
Capital Addition Purchase Commitments [Member] | New 10,000 Metric Ton Farm [Member]
Expected construction cost	$ 320

Basis of Presentation (Revenue

Basis of Presentation (Revenue Recognition) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues	$ 1,069,706	$ 227,393	$ 2,032,587	$ 301,765
Customer Concentration Risk [Member] | Revenue Benchmark [Member]
Concentration Risk, Percentage	100%		100%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Customer A [Member]
Concentration Risk, Percentage	39%		37%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Customer B [Member]
Concentration Risk, Percentage	18%		19%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Customer C [Member]
Concentration Risk, Percentage	14%		12%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | All other customers [Member]
Concentration Risk, Percentage	29%		32%
U.S. [Member]
Revenues	$ 812,415		$ 1,601,392
Canada [Member]
Revenues	257,291		431,195
GE Atlantic salmon [Member]
Revenues	1,020,269		1,941,106
GE Atlantic salmon [Member] | U.S. [Member]
Revenues	812,415		1,601,392
GE Atlantic salmon [Member] | Canada [Member]
Revenues	207,854		339,714
Non-GE Atlantic salmon eggs [Member]
Revenues	37,980		46,692
Non-GE Atlantic salmon eggs [Member] | Canada [Member]
Revenues	37,980		46,692
Non-GE Atlantic salmon fry [Member]
Revenues			33,095
Non-GE Atlantic salmon fry [Member] | Canada [Member]
Revenues			33,095
Other Revenue [Member]
Revenues	11,457		11,694
Other Revenue [Member] | Canada [Member]
Revenues	$ 11,457		$ 11,694

Basis of Presentation (Impact o

Basis of Presentation (Impact of Potentially Dilutive Securities) (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Stock Options [Member]
Potentially dilutive securities	869,683	683,146	800,930	674,568
Warrants [Member]
Potentially dilutive securities	418,441	438,082	418,441	608,339
Unvested Restricted Shares [Member]
Potentially dilutive securities	185,611	69,760	145,440	70,724

Risks and Uncertainties (Detail

Risks and Uncertainties (Details) - Credit Concentration Risk [Member] - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Concentration Risk [Line Items]
Cash equivalent investment balance	$ 15,900	$ 73,300
Canada [Member]
Concentration Risk [Line Items]
Cash in Canadian bank accounts	$ 186	$ 224

Marketable Securities (Schedule

Marketable Securities (Schedule of Marketable Securities) (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Marketable Securities [Line Items]
Amortized cost	$ 29,387,258	$ 101,813,882
Unrealized Gains	7	82
Unrealized Losses	(32,377)	(40,183)
Market Value	29,354,888	101,773,781
Government Bonds [Member]
Marketable Securities [Line Items]
Amortized cost	13,165,731	28,453,161
Unrealized Gains	7	82
Unrealized Losses	(7,017)	(18,255)
Market Value	13,158,721	28,434,988
Corporate Bonds [Member]
Marketable Securities [Line Items]
Amortized cost	12,228,227	29,874,696
Unrealized Gains
Unrealized Losses		(21,928)
Market Value	12,228,227	29,852,768
Commercial Paper [Member]
Marketable Securities [Line Items]
Amortized cost	3,993,300	43,486,025
Unrealized Gains
Unrealized Losses	(25,360)
Market Value	$ 3,967,940	$ 43,486,025

Inventory (Schedule of Inventor

Inventory (Schedule of Inventory) (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Inventory [Line Items]
Inventory, net	$ 1,918,395	$ 1,259,910
Feed [Member]
Inventory [Line Items]
Inventory, net	283,654	162,047
Eggs And Fry [Member]
Inventory [Line Items]
Inventory, net	83,936
Fish In Process, Net [Member]
Inventory [Line Items]
Inventory, net	1,506,218	926,360
Finished Goods [Member]
Inventory [Line Items]
Inventory, net	$ 44,587	$ 171,503

Property, Plant and Equipment_2

Property, Plant and Equipment (Narrative) (Details) - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 957,000	$ 845,000
Gross property, plant, and equipment	71,768,136		$ 40,684,386
Construction In Process [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant, and equipment	36,196,500		$ 8,119,575
Rollo Bay Farm And Fortune Bay Hatchery [Member] | Construction In Process [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant, and equipment	2,000,000
Indiana Farm [Member] | Construction In Process [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant, and equipment	456,000
New 10,000 Metric Ton Farm [Member] | Capital Addition Purchase Commitments [Member]
Property, Plant and Equipment [Line Items]
Commitments to purchase property, plant, and equipment	16,400,000
New 10,000 Metric Ton Farm [Member] | Construction In Process [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant, and equipment	33,700,000
Rollo Bay and Indiana Farm [Member] | Capital Addition Purchase Commitments [Member]
Property, Plant and Equipment [Line Items]
Commitments to purchase property, plant, and equipment	$ 1,000,000

Property, Plant and Equipment_3

Property, Plant and Equipment (Schedule of Property, Plant and Equipment) (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 71,768,136	$ 40,684,386
Less accumulated depreciation and amortization	(7,789,241)	(6,869,267)
Property, plant and equipment, net	63,978,895	33,815,119
Land [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	2,970,070	725,799
Building And Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	15,564,196	15,580,385
Construction In Process [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	36,196,500	8,119,575
Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	16,758,695	15,981,408
Office Furniture And Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	242,939	240,939
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 35,736	$ 36,280

Debt (Narrative) (Details)

Debt (Narrative) (Details)	1 Months Ended		6 Months Ended
	Sep. 30, 2020 USD ($)	Sep. 30, 2020 CAD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Apr. 06, 2022 USD ($)	Apr. 06, 2022 CAD ($)	Aug. 31, 2020 USD ($)
Debt Instrument [Line Items]
Proceeds from issuance of debt			$ 42,338	$ 406,378
DFO Term Loan [Member]
Debt Instrument [Line Items]
Maturity date			Aug 2032
Interest rate			0%
Interest expense			$ 150,000	$ 159,000
ACOA Term Loan #3 [Member]
Debt Instrument [Line Items]
Maturity date			Dec 2025
Interest rate			0%
First Farmers Bank & Trust Term Loan [Member]
Debt Instrument [Line Items]
Maturity date			Oct 2028
Interest rate			5.375%
Secured Debt [Member] | First Farmers Bank & Trust Term Loan [Member]
Debt Instrument [Line Items]
Amount borrowed							$ 4,000,000
Canadian Subsidiary [Member] | Secured Debt [Member] | DFO Term Loan [Member]
Debt Instrument [Line Items]
Amount borrowed					$ 42,338	$ 53,456
Proceeds from issuance of debt	$ 1,400,000	$ 1,900,000
Maturity date			August 2032

Debt (Terms and Conditions of L

Debt (Terms and Conditions of Long-term Debt Outstanding) (Details)	6 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2022 CAD ($)	Dec. 31, 2021 USD ($)
Debt Instrument [Line Items]
Total debt	$ 8,863,375		$ 9,219,378
less: debt issuance costs	(60,188)		(68,680)
less: current portion	(688,390)		(627,365)
Long-term debt, net	$ 8,114,797		8,523,333
ACOA AIF Grant [Member]
Debt Instrument [Line Items]
Interest rate	0%
Maturity date	-	-
Total debt	$ 2,227,461		2,261,349
ACOA Term Loan #1 [Member]
Debt Instrument [Line Items]
Interest rate	0%
Monthly repayment		$ 3,120
Maturity date	Feb 2027	Feb 2027
Total debt	$ 135,544		152,346
ACOA Term Loan #2 [Member]
Debt Instrument [Line Items]
Interest rate	0%
Monthly repayment		$ 4,630
Maturity date	Sep 2029	Sep 2029
Total debt	$ 312,388		339,015
ACOA Term Loan #3 [Member]
Debt Instrument [Line Items]
Interest rate	0%
Monthly repayment		$ 6,945
Maturity date	Dec 2025	Dec 2025
Total debt	$ 193,900		196,850
Kubota Canada Ltd [Member]
Debt Instrument [Line Items]
Interest rate	0%
Monthly repayment		$ 1,142
Maturity date	Jan 2025	Jan 2025
Total debt	$ 27,467		33,283
PEI Finance Term Loan [Member]
Debt Instrument [Line Items]
Interest rate	4%
Monthly repayment		$ 16,313
Maturity date	Nov 2023	Nov 2023
Total debt	$ 1,880,359		1,947,510
DFO Term Loan [Member]
Debt Instrument [Line Items]
Interest rate	0%
Monthly repayment		$ 2,091
Maturity date	Aug 2032	Aug 2032
Total debt	$ 441,081		405,700
First Farmers Bank & Trust Term Loan [Member]
Debt Instrument [Line Items]
Interest rate	5.375%
Monthly repayment	$ 56,832
Maturity date	Oct 2028	Oct 2028
Total debt	$ 3,645,175		$ 3,883,325

Debt (Principal Payments Due on

Debt (Principal Payments Due on Long-term Debt) (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Year
2022 remaining	$ 324,060
2023	2,537,186
2024	731,107
2025	751,804
2026	718,019
Thereafter	3,801,199
Total debt	8,863,375	$ 9,219,378
ACOA AIF Grant [Member]
Year
Total debt	2,227,461	2,261,349
PEI Finance Term Loan [Member]
Year
Total debt	1,880,359	1,947,510
Kubota Canada Ltd [Member]
Year
Total debt	27,467	33,283
DFO Term Loan [Member]
Year
Total debt	441,081	405,700
First Farmers Bank & Trust Term Loan [Member]
Year
Total debt	$ 3,645,175	$ 3,883,325

Leases (Narrative) (Details)

Leases (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Leases [Abstract]
Lease expense	$ 43	$ 43
Weighted average remaining lease term	24 years
Lease payment	$ 42	$ 42

Leases (Summary of Lease Obliga

Leases (Summary of Lease Obligations and Remaining Payments) (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Lease Obligations [Abstract]
Lease Liability	$ 257,825	$ 290,327
Lease Liability - Less: current portion	(52,260)	(66,269)
Lease Liability - Long-term leases	$ 205,565	$ 224,058

Leases (Summary of Remaining Pa

Leases (Summary of Remaining Payments under Leases) (Details)	Jun. 30, 2022 USD ($)
Leases [Abstract]
2022 remaining	$ 33,767
2023	20,831
2024	4,495
2025	4,340
2026	4,215
Thereafter	190,177
Total lease payments	$ 257,825

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($)		6 Months Ended
	Feb. 08, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Stockholders' Equity
Share-based compensation		$ 318,608	$ 217,069
Class of Warrant or Right, Outstanding		418,441		418,441
Restricted Stock [Member]
Stockholders' Equity
Share-based compensation expense		$ 230,000	149,000
Unearned share-based compensation expense in future periods		$ 294,000
Unearned share-based compensation earn period		2 years 8 months 12 days
Stock Options [Member]
Stockholders' Equity
Unearned share-based compensation expense in future periods		$ 322,000
Unearned share-based compensation earn period		2 years 8 months 12 days
Weighted average fair value of stock options grants (in dollars per share)		$ 1.12
Intrinsic value of options outstanding		$ 38,000		$ 18,000
Intrinsic value of exercisable options		4,000		$ 11,000
Share-based compensation		$ 88,000	$ 68,000
Share-based Compensation
Exercisable term		10 years
Minimum [Member] | Stock Options [Member]
Share-based Compensation
Award vesting period		1 year
Maximum [Member] | Stock Options [Member]
Share-based Compensation
Award vesting period		6 years
2006 and 2016 Equity Incentive Plans [Member]
Stockholders' Equity
Common stock reserved for future issuances (in shares)		866,186
2016 Equity Incentive Plan [Member]
Stockholders' Equity
Common stock reserved for future issuances (in shares)		466,267
Warrants [Member]
Stockholders' Equity
Exercise price (in dollars per share)		$ 3.25		$ 3.25
Common Stock [Member] | Warrants [Member]
Stockholders' Equity
Expiration date		Jan. 17, 2023
February 2021 Public Offering [Member] | Common Stock [Member]
Stockholders' Equity
Issued (in shares)	14,950,000
Proceeds from issuance or sale of equity	$ 119,100,000

Stockholders' Equity (Restricte

Stockholders' Equity (Restricted Stock Activity) (Details) - Restricted Stock [Member]	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Shares
Beginning balance | shares	65,100
Granted | shares	247,488
Vested | shares	(126,012)
Ending balance | shares	186,576
Weighted average grant date fair value
Beginning balance | $ / shares	$ 4.10
Granted | $ / shares	1.52
Vested | $ / shares	2.25
Ending balance | $ / shares	$ 1.93

Stockholders' Equity (Stock Opt

Stockholders' Equity (Stock Option Activity) (Details) - Stock Options [Member]	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Number of options
Outstanding, beginning balance | shares	663,425
Granted | shares	209,755
Exercised | shares	(1,012)
Forfeited | shares	(5,982)
Outstanding, ending balance | shares	866,186
Exercisable | shares	651,523
Weighted average exercise price
Outstanding, beginning balance | $ / shares	$ 4.31
Issued | $ / shares	1.55
Exercised | $ / shares	1.52
Forfeited | $ / shares	1.52
Outstanding, ending balance | $ / shares	3.66
Exercisable | $ / shares	$ 4.22

Stockholders' Equity (Stock O_2

Stockholders' Equity (Stock Option Grants Weighted Average Assumptions) (Details) - Stock Options [Member]	6 Months Ended
	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	103%
Risk free interest rate	2.10%
Expected dividend yield	0%
Expected life (in years)	5 years

Stockholders' Equity (Informati

Stockholders' Equity (Information About Options Outstanding and Exercisable) (Details) - Stock Options [Member]	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding	866,186
Number of options exercisable	651,523
$1.52 - $2.50 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding	725,294
Weighted average remaining estimated life (in years)	7 years 7 months 6 days
Number of options exercisable	528,597
$5.44 - $6.72 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding	55,402
Weighted average remaining estimated life (in years)	7 years 10 months 24 days
Number of options exercisable	37,436
$7.50 - $10.80 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding	16,403
Weighted average remaining estimated life (in years)	1 year 9 months 18 days
Number of options exercisable	16,403
$14.20 - $23.40 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding	69,087
Weighted average remaining estimated life (in years)	3 years 8 months 12 days
Number of options exercisable	69,087
Minimum [Member] | $1.52 - $2.50 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options | $ / shares	$ 1.52
Minimum [Member] | $5.44 - $6.72 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options | $ / shares	5.44
Minimum [Member] | $7.50 - $10.80 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options | $ / shares	7.50
Minimum [Member] | $14.20 - $23.40 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options | $ / shares	14.20
Maximum [Member] | $1.52 - $2.50 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options | $ / shares	2.50
Maximum [Member] | $5.44 - $6.72 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options | $ / shares	6.72
Maximum [Member] | $7.50 - $10.80 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options | $ / shares	10.80
Maximum [Member] | $14.20 - $23.40 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options | $ / shares	$ 23.40

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Jun. 30, 2022
Tax Credit Carryforward [Line Items]
Unrecognized income tax benefits		$ 0
Forecast [Member]
Tax Credit Carryforward [Line Items]
Effective tax rate	0%