AquaBounty (AQB) 10-Q 7 Nov 23 2023 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2023	Nov. 06, 2023
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Period End Date	Sep. 30, 2023
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	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		3,846,772
Entity Central Index Key	0001603978

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 16,767,070	$ 101,638,557
Inventory	1,942,420	2,276,592
Prepaid expenses and other current assets	3,718,087	2,133,583
Total current assets	22,427,577	106,048,732
Property, plant and equipment, net	168,657,134	106,286,186
Right of use assets, net	204,396	222,856
Intangible assets, net	207,861	218,139
Restricted cash	1,000,000	1,000,000
Other assets	49,367	64,859
Total assets	192,546,335	213,840,772
Current liabilities:
Accounts payable and accrued liabilities	9,895,839	12,000,592
Accrued employee compensation	727,743	1,021,740
Current debt	756,559	2,387,231
Other current liabilities	4,540	20,830
Total current liabilities	11,384,681	15,430,393
Long-term lease obligations	199,856	203,227
Long-term debt, net	7,772,695	6,286,109
Total liabilities	19,357,232	21,919,729
Commitments and contingencies
Stockholders’ equity:
Common stock, $0.001 par value, 75,000,000 and 150,000,000 shares authorized at September 30, 2023 and December 31, 2022, respectively; 3,846,772 and 3,834,383 shares outstanding at September 30, 2023 and December 31, 2022, respectively	3,847	3,834
Additional paid-in capital	385,879,364	385,455,961
Accumulated other comprehensive loss	(539,204)	(516,775)
Accumulated deficit	(212,154,904)	(193,021,977)
Total stockholders’ equity	173,189,103	191,921,043
Total liabilities and stockholders’ equity	$ 192,546,335	$ 213,840,772

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2023	Dec. 31, 2022
Condensed Consolidated Balance Sheets [Abstract]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	75,000,000	150,000,000
Common stock, shares outstanding (in shares)	3,846,772	3,834,383

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenues
Product revenues	$ 733,133	$ 653,432	$ 1,919,409	$ 2,686,019
Costs and expenses
Product costs	4,096,040	3,518,296	11,446,158	10,044,092
Sales and marketing	191,862	186,393	584,401	783,882
Research and development	184,221	220,598	485,532	596,079
General and administrative	2,334,861	2,264,755	8,402,876	7,472,921
Total costs and expenses	6,806,984	6,190,042	20,918,967	18,896,974
Operating loss	(6,073,851)	(5,536,610)	(18,999,558)	(16,210,955)
Other expense
Interest expense	(63,746)	(72,313)	(195,809)	(222,295)
Other (expense) income, net	(516)	168,796	62,440	345,355
Total other (expense) income	(64,262)	96,483	(133,369)	123,060
Net loss	(6,138,113)	(5,440,127)	(19,132,927)	(16,087,895)
Other comprehensive loss:
Foreign currency translation loss	(138,202)	(303,725)	(22,429)	(374,422)
Unrealized gain on marketable securities		32,370		40,101
Total other comprehensive loss	(138,202)	(271,355)	(22,429)	(334,321)
Comprehensive loss	$ (6,276,315)	$ (5,711,482)	$ (19,155,356)	$ (16,422,216)
Net Loss Per Share, Basic	$ (1.60)	$ (1.42)	$ (4.98)	$ (4.20)
Net Loss Per Share, Diluted	$ (1.60)	$ (1.42)	$ (4.98)	$ (4.20)
Weighted average number of common shares -
Weighted Average Number of Shares Outstanding, Basic	3,846,622	3,833,430	3,843,349	3,832,328
Weighted Average Number of Shares Outstanding, Diluted	3,846,622	3,833,430	3,843,349	3,832,328

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, 2021	3,830,128
Beginning balance at Dec. 31, 2021	$ 3,830	$ 384,919,303	$ (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)	4,203
Share based compensation	$ 4	211,324			211,328
Ending balance (in shares) at Mar. 31, 2022	3,834,331
Ending balance at Mar. 31, 2022	$ 3,834	385,130,627	(286,748)	(175,976,508)	208,871,205
Beginning balance (in shares) at Dec. 31, 2021	3,830,128
Beginning balance at Dec. 31, 2021	$ 3,830	384,919,303	(255,588)	(170,864,782)	213,802,763
Net loss					(16,087,895)
Other comprehensive income (loss)					(334,321)
Ending balance (in shares) at Sep. 30, 2022	3,834,383
Ending balance at Sep. 30, 2022	$ 3,834	385,347,086	(589,909)	(186,952,677)	197,808,334
Beginning balance (in shares) at Mar. 31, 2022	3,834,331
Beginning balance at Mar. 31, 2022	$ 3,834	385,130,627	(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)	52
Exercise of warrants for common stock		1,538			1,538
Share based compensation		107,280			107,280
Ending balance (in shares) at Jun. 30, 2022	3,834,383
Ending balance at Jun. 30, 2022	$ 3,834	385,239,445	(318,554)	(181,512,550)	203,412,175
Net loss				(5,440,127)	(5,440,127)
Other comprehensive income (loss)			(271,355)		(271,355)
Share based compensation		107,641			107,641
Ending balance (in shares) at Sep. 30, 2022	3,834,383
Ending balance at Sep. 30, 2022	$ 3,834	385,347,086	(589,909)	(186,952,677)	197,808,334
Beginning balance (in shares) at Dec. 31, 2022	3,834,383
Beginning balance at Dec. 31, 2022	$ 3,834	385,455,961	(516,775)	(193,021,977)	191,921,043
Net loss				(6,486,068)	(6,486,068)
Other comprehensive income (loss)			4,427		4,427
Share based compensation (in shares)	11,423
Share based compensation	$ 12	196,629			196,641
Ending balance (in shares) at Mar. 31, 2023	3,845,806
Ending balance at Mar. 31, 2023	$ 3,846	385,652,590	(512,348)	(199,508,045)	185,636,043
Beginning balance (in shares) at Dec. 31, 2022	3,834,383
Beginning balance at Dec. 31, 2022	$ 3,834	385,455,961	(516,775)	(193,021,977)	191,921,043
Net loss					(19,132,927)
Other comprehensive income (loss)					(22,429)
Ending balance (in shares) at Sep. 30, 2023	3,846,772
Ending balance at Sep. 30, 2023	$ 3,847	385,879,364	(539,204)	(212,154,904)	173,189,103
Beginning balance (in shares) at Mar. 31, 2023	3,845,806
Beginning balance at Mar. 31, 2023	$ 3,846	385,652,590	(512,348)	(199,508,045)	185,636,043
Net loss				(6,508,746)	(6,508,746)
Other comprehensive income (loss)			111,346		111,346
Share based compensation (in shares)	336
Share based compensation		106,184			106,184
Ending balance (in shares) at Jun. 30, 2023	3,846,142
Ending balance at Jun. 30, 2023	$ 3,846	385,758,774	(401,002)	(206,016,791)	179,344,827
Net loss				(6,138,113)	(6,138,113)
Other comprehensive income (loss)			(138,202)		(138,202)
Share based compensation (in shares)	630
Share based compensation	$ 1	120,590			120,591
Ending balance (in shares) at Sep. 30, 2023	3,846,772
Ending balance at Sep. 30, 2023	$ 3,847	$ 385,879,364	$ (539,204)	$ (212,154,904)	$ 173,189,103

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Operating activities
Net loss	$ (19,132,927)	$ (16,087,895)
Adjustment to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	1,607,260	1,501,381
Share-based compensation	423,416	426,249
Other non-cash charge	13,087	18,997
Changes in operating assets and liabilities:
Inventory	332,314	(857,331)
Prepaid expenses and other assets	(1,570,255)	(2,475,197)
Accounts payable and accrued liabilities	158,108	(369,254)
Accrued employee compensation	(293,997)	(109,841)
Net cash used in operating activities	(18,462,994)	(17,952,891)
Investing activities
Purchases of and deposits on property, plant and equipment	(66,256,590)	(44,882,996)
Maturities of marketable securities		149,435,173
Purchases of marketable securities		(47,621,291)
Other investing activities	(3,263)	12,500
Net cash (used in) provided by investing activities	(66,259,853)	56,943,386
Financing activities
Proceeds from issuance of debt	394,156	42,338
Repayment of term debt	(542,019)	(478,870)
Proceeds from the exercise of stock options and warrants		1,538
Net cash used in financing activities	(147,863)	(434,994)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(777)	(1,869)
Net change in cash, cash equivalents and restricted cash	(84,871,487)	38,553,632
Cash, cash equivalents and restricted cash at beginning of period	102,638,557	89,454,988
Cash, cash equivalents and restricted cash at end of period	17,767,070	128,008,620
Reconciliation of cash, cash equivalents and restricted cash reported in the consolidated balance sheet:
Cash and cash equivalents	16,767,070	127,008,620
Restricted cash	1,000,000	1,000,000
Total cash, cash equivalents and restricted cash	17,767,070	128,008,620
Supplemental disclosure of cash flow information and non-cash transactions:
Interest paid in cash	184,497	209,666
Property and equipment included in accounts payable and accrued liabilities	$ 8,300,093	$ 14,496,747

Nature of Business and Organiza

Nature of Business and Organization	9 Months Ended
	Sep. 30, 2023
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 Atlantic salmon. In 2015, the Parent obtained regulatory approval from the U.S. Food and Drug Administration for the production and sale of its genetically engineered AquAdvantage salmon product (“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 product in Canada. In 2021, the Parent obtained regulatory approval from the National Biosafety Technical Commission for the sale of its GE Atlantic salmon product in Brazil. In 2021, the Company began harvesting and selling its GE Atlantic salmon in the United States and Canada.

Going Concern Uncertainty

Going Concern Uncertainty	9 Months Ended
	Sep. 30, 2023
Going Concern Uncertainty [Abstract]
Going Concern Uncertainty	2. Going Concern Uncertainty Since inception, the Company has incurred cumulative operating losses and negative cash flows from operations and expects that this will continue for the foreseeable future. As of September 30, 2023, the Company has $ 17.8 million in cash and cash equivalents, and restricted cash, a significant portion of which is required to fund its current liabilities and other contractual obligations. The Company’s ability to continue as a going concern is dependent upon its ability to raise additional capital and there can be no assurance that such capital will be available in sufficient amounts or on terms acceptable to the Company. This raises substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the accompanying condensed consolidated financial statements are issued. The accompanying condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business and do not include any adjustments that might result from the outcome of this uncertainty.

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2023
Basis of Presentation [Abstract]
Basis of Presentation	3. 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, 2022. 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 September 30, 2023, 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. Reverse Stock Split On October 12, 2023, the stockholders of the Company approved a reverse stock split of the Company’s common stock and the Board of Directors approved a split ratio of 1-for-20 . The reverse stock split was implemented on October 16, 2023. In conjunction with the reverse stock split, the number of shares of common stock authorized for issuance was reduced from 150 million to 75 million. All share and per share information, as well as other related information on equity instruments in the unaudited condensed consolidated financial statements and accompanying notes have been adjusted to reflect this change. As a result of the reverse stock split, $ 67,511 was reclassified from common stock to additional paid-in capital. Inventories Inventories are mainly comprised of feed, eggs, fry, fish in process and fish for sale. Fish in process inventory is a biological asset that 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”), where NRV is defined as the estimated market price, less the estimated costs of processing, packaging and transportation. The Company considers fish that has been harvested and transported from its farm to be fish for sale. Revenue recognition The Company is comprised of one reporting segment and 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 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 September 30, 2023, the Company recognized the following product revenue: Three Months Ended September 30, 2023 U.S. Canada Total GE Atlantic salmon $ 632,307 $ - $ 632,307 Non-GE Atlantic salmon eggs - - - Non-GE Atlantic salmon fry 88,584 88,584 Other revenue - 12,242 12,242 Total Revenue $ 632,307 $ 100,826 $ 733,133 Nine Months Ended September 30, 2023 U.S. Canada Total GE Atlantic salmon $ 1,779,045 $ - $ 1,779,045 Non-GE Atlantic salmon eggs - 730 730 Non-GE Atlantic salmon fry - 122,841 122,841 Other revenue - 16,793 16,793 Total Revenue $ 1,779,045 $ 140,364 $ 1,919,409 During the period ended September 30, 2022, the Company recognized the following product revenue: Three Months Ended September 30, 2022 U.S. Canada Total GE Atlantic salmon $ 539,311 $ 54,764 $ 594,075 Non-GE Atlantic salmon eggs - - - Non-GE Atlantic salmon fry - 48,570 48,570 Other revenue - 10,787 10,787 Total Revenue $ 539,311 $ 114,121 $ 653,432 Nine Months Ended September 30, 2022 U.S. Canada Total GE Atlantic salmon $ 2,140,703 $ 394,478 $ 2,535,181 Non-GE Atlantic salmon eggs - 46,692 46,692 Non-GE Atlantic salmon fry - 81,665 81,665 Other revenue - 22,481 22,481 Total Revenue $ 2,140,703 $ 545,316 $ 2,686,019 During the period ended September 30, 2023 and 2022, the Company had the following customer concentration of revenue: Three Months Ended September 30, 2023 2022 Customer A 36 % 36 % Customer B 19 % 18 % Customer C 12 % 18 % All other 33 % 28 % Total of all customers 100 % 100 % Nine Months Ended September 30, 2023 2022 Customer A 43 % 37 % Customer B 18 % 18 % Customer C 15 % 14 % All other 24 % 31 % Total of all customers 100 % 100 % Net loss per share Basic and diluted net loss per share available to common stockholders has been calculated by dividing net loss by the weighted average number of shares of common stock outstanding during the year. Basic net loss per share is based solely on the number of shares of common stock outstanding during the year. Fully diluted net loss per share includes the number of shares of common stock issuable upon the exercise or vesting of equity instruments with an exercise price less than the fair value of the common stock. Since the Company is reporting a net loss for all periods presented, all potential shares of common stock are considered anti-dilutive and are excluded from the calculation of diluted net loss per share. The following potentially dilutive securities have been excluded from the calculation of diluted net loss per share, as their effect is anti-dilutive: Three Months Ended September 30, Weighted Average Outstanding 2023 2022 Stock options 76,811 42,544 Warrants - 20,929 Unvested stock awards 35,085 9,563 Nine Months Ended September 30, Weighted Average Outstanding 2023 2022 Stock options 55,922 40,480 Warrants 1,227 20,929 Unvested stock awards 24,869 7,904 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	9 Months Ended
	Sep. 30, 2023
Risks and Uncertainties [Abstract]
Risks and Uncertainties	4. 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. Concentration of credit risk Financial instruments that potentially subject the Company to credit risk consist principally of cash and cash equivalents. This risk is mitigated by the Company’s policy of maintaining all balances with highly rated financial institutions and investing cash equivalents with maturities of less than 90 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 $ 272 thousand and $ 518 thousand as of September 30, 2023 and December 31, 2022, respectively. The Company also holds cash equivalent investments in a highly liquid investment account at a major financial institution. As of September 30, 2023 and December 31, 2022 the cash equivalent investment balance was $ 0 and $ 10.6 million, respectively.

Inventory

Inventory	9 Months Ended
	Sep. 30, 2023
Inventory [Abstract]
Inventory	5. Inventory Major classifications of inventory are summarized as follows: September 30, 2023 December 31, 2022 Feed $ 202,015 366,957 Eggs and fry 18,408 22,140 Fish in process 1,635,991 1,869,387 Fish for sale 86,006 18,108 Inventory $ 1,942,420 2,276,592

Prepaid and Other Current Asset

Prepaid and Other Current Assets	9 Months Ended
	Sep. 30, 2023
Prepaid and Other Current Assets [Abstract]
Prepaid and Other Current Assets	6. Prepaid and other current assets Major classifications of prepaid and current assets are summarized as follows: September 30, 2023 December 31, 2022 Receivables $ 613,680 $ 337,154 Prepaid insurance 502,302 272,958 Prepaid supplies 77,673 55,007 Prepaid professional services 2,474,874 1,446,819 Deposits and other 49,558 21,645 Prepaid expenses and other current assets $ 3,718,087 $ 2,133,583 As of September 30, 2023, prepaid professional services included $ 2.1 million in legal expenses and fees related to a bond financing transaction for the Ohio farm site. The transaction has not yet completed.

Property, Plant and Equipment

Property, Plant and Equipment	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	7. Property, plant and equipment Major classifications of property, plant and equipment are summarized as follows: September 30, 2023 December 31, 2022 Land $ 2,967,923 $ 2,968,561 Building and improvements 15,608,062 15,535,904 Construction in process 142,017,860 78,806,762 Equipment 17,874,176 17,259,301 Office furniture and equipment 220,094 258,972 Vehicles 105,861 106,074 Total property and equipment $ 178,793,976 $ 114,935,574 Less accumulated depreciation and amortization ( 10,136,842 ) ( 8,649,388 ) Property, plant and equipment, net $ 168,657,134 $ 106,286,186 Depreciation expense was $ 1.6 million and $ 1.5 million, for the nine months ended September 30, 2023 and 2022, respectively. As of September 30, 2023, construction in process included $ 136.0 million, $ 4.2 million, and $ 1.8 million for construction related to the Ohio, Rollo Bay and Indiana farm sites, respectively. As of September 30, 2023, t he Company has outstanding commitments for an additional $ 30.0 million for these projects, a portion of which are cancellable.

Debt

Debt	9 Months Ended
	Sep. 30, 2023
Debt [Abstract]
Debt	8. Debt The current material terms and conditions of debt outstanding are as follows: Interest rate Monthly repayment Maturity date September 30, 2023 December 31, 2022 ACOA AIF Grant 0 % Royalties - $ 2,114,594 $ 2,119,476 ACOA term loan #1 0 % C$ 3,120 Feb 2027 94,217 115,158 ACOA term loan #2 0 % C$ 4,630 Sep 2029 245,424 276,743 ACOA term loan #3 0 % C$ 6,945 Dec 2025 138,053 184,500 Kubota Canada Ltd 0 % C$ 1,142 Jan 2025 13,458 21,077 DFO term loan 0 % C$ 16,865 Jan 2034 1,250,311 854,885 Finance PEI term loan 4 % C$ 16,313 Nov 2028 1,692,161 1,752,547 First Farmers Bank & Trust term loan 5.375 % $ 56,832 Oct 2028 3,021,789 3,401,019 Total debt $ 8,570,007 $ 8,725,405 less: debt issuance costs ( 40,753 ) ( 52,065 ) less: current portion ( 756,559 ) ( 2,387,231 ) Long-term debt, net $ 7,772,695 $ 6,286,109 Estimated principal payments remaining on debt outstanding are as follows: Total 2023 remaining $ 184,319 2024 810,698 2025 911,870 2026 884,739 2027 898,763 Thereafter 4,879,618 Total $ 8,570,007 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 March 28, 2023, the Canadian Subsidiary borrowed C$ 539,718 ($ 394,156 ) under the DFO Term Loan . Borrowings are interest free and monthly repayments commence in August 2024, with maturity in January 2034. The Company recognized interest expense of $ 196 thousand and $ 222 thousand for the nine months ended September 30, 2023 and 2022, respectively, on its interest-bearing debt.

Leases

Leases	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Leases	9. Leases Lease expense for the nine months ended September 30, 2023 and 2022, amounted to $ 67 thousand and $ 64 thousand, respectively. The weighted average remaining lease term of the Company’s operating leases was 25 years. Lease payments included in operating cash flows totaled $ 71 thousand and $ 67 thousand for the nine months ended September 30, 2023 and 2022, respectively. The table below summarizes the outstanding lease liabilities at September 30, 2023 and December 31, 2022: Lease Liability September 30, 2023 December 31, 2022 Total leases $ 204,396 $ 224,058 Less: current portion ( 4,540 ) ( 20,831 ) Long-term leases $ 199,856 $ 203,227 Remaining payments under leases are as follows: Year Amount 2023 remaining $ 4,243 2024 17,481 2025 18,006 2026 18,546 2027 19,103 Thereafter 564,225 Total lease payments 641,604 Less: imputed interest ( 437,208 ) Total operational lease liabilities $ 204,396

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2023
Stockholders' Equity [Abstract]
Stockholders' Equity	10. Stockholders’ equity Warrants At September 30, 2023 and December 31, 2022, there were zero and 20,929 warrants outstanding, respectively, which were issued in conjunction with a public equity offering in January 2018. All outstanding warrants expired on January 17, 2023 . Share-based compensation At September 30, 2023, the Company has reserved 76,648 and 34,926 shares of common stock issuable upon the exercise of outstanding stock options and unvested stock awards, respectively under its 2006 and 2016 Equity Incentive Plans. An additional 68,296 shares of common stock are reserved for future equity awards under the 2016 Equity Incentive Plan. Unvested Stock Awards A summary of the Company’s unvested stock awards for the nine months ended September 30, 2023, is as follows: Shares Weighted average grant date fair value Unvested at December 31, 2022 9,983 $ 37.24 Granted 39,280 10.58 Vested ( 13,342 ) 25.61 Forfeited ( 995 ) 26.86 Unvested at September 30, 2023 34,926 $ 11.99 During the nine months ended September 30, 2023 and 2022, the Company expensed $ 294 thousand and $ 294 thousand, respectively, related to the stock awards. At September 30, 2023, the balance of unearned share-based compensation to be expensed in future periods related to the stock awards is $ 286 thousand. The period over which the unearned share-based compensation is expected to be earned is approximately 1.7 years. Stock options The Company’s option activity is summarized as follows: Number of options Weighted average exercise price Outstanding at December 31, 2022 42,033 $ 71.69 Issued 36,654 7.20 Exercised — — Forfeited ( 1,585 ) 11.92 Expired ( 454 ) 150.00 Outstanding at September 30, 2023 76,648 $ 41.62 Exercisable at September 30, 2023 41,519 $ 67.56 Unless otherwise indicated, options issued to employees, members of the Board of Directors, and non-employees are vested daily over one to three years and are exercisable for a term of ten years from the date of issuance. There were 36,654 stock options granted during the nine months ended September 30, 2023. The total intrinsic value of all options outstanding was $ 0 at September 30, 2023 and December 31, 2022. The total intrinsic value of exercisable options was $ 0 at September 30, 2023 and December 31, 2022. The following table summarizes information about options outstanding and exercisable at September 30, 2023: Weighted average exercise price of outstanding options Number of options outstanding Weighted average remaining estimated life (in years) Number of options exercisable < $ 10.00 35,392 9.7 4,903 $ 20.00 - $ 50.00 35,487 6.3 31,081 $ 100.00 - $ 200.00 2,394 6.6 2,160 $ 200.00 - $ 500.00 3,375 2.4 3,375 76,648 41,519 Total share-based compensation on stock options amounted to $ 130 thousand and $ 133 thousand for the nine months ended September 30, 2023 and 2022, respectively. At September 30, 2023, the balance of unearned share-based compensation to be expensed in future periods related to unvested share-based awards was $ 277 thousand. The period over which the unearned share-based compensation is expected to be earned is approximately 1.7 years.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies [Abstract]
Commitments and Contingencies	11. 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. Management believes that final disposition of any such matters existing at September 30, 2023, will not have a material adverse effect on the Company’s financial position or results of operations.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2023
Income Taxes [Abstract]
Income Taxes	12. Income Taxes The Company estimates an annual effective tax rate of 0 % for the year ending December 31, 2023 as the Company incurred losses for the nine months ended September 30, 2023 and is forecasting additional losses through the remainder of the year ending December 31, 2023, resulting in an estimated net loss for both financial statement and tax purposes for the year ending December 31, 2023. 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 September 30, 2023, 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)	9 Months Ended
	Sep. 30, 2023
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 Atlantic salmon. In 2015, the Parent obtained regulatory approval from the U.S. Food and Drug Administration for the production and sale of its genetically engineered AquAdvantage salmon product (“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 product in Canada. In 2021, the Parent obtained regulatory approval from the National Biosafety Technical Commission for the sale of its GE Atlantic salmon product in Brazil. In 2021, the Company began harvesting and selling its GE Atlantic salmon in the United States and Canada.

Going Concern Uncertainty (Poli

Going Concern Uncertainty (Policy)	9 Months Ended
	Sep. 30, 2023
Going Concern Uncertainty [Abstract]
Going Concern Uncertainty	Since inception, the Company has incurred cumulative operating losses and negative cash flows from operations and expects that this will continue for the foreseeable future. As of September 30, 2023, the Company has $ 17.8 million in cash and cash equivalents, and restricted cash, a significant portion of which is required to fund its current liabilities and other contractual obligations. The Company’s ability to continue as a going concern is dependent upon its ability to raise additional capital and there can be no assurance that such capital will be available in sufficient amounts or on terms acceptable to the Company. This raises substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the accompanying condensed consolidated financial statements are issued. The accompanying condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business and do not include any adjustments that might result from the outcome of this uncertainty.

Basis of Presentation (Policy)

Basis of Presentation (Policy)	9 Months Ended
	Sep. 30, 2023
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, 2022. 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 September 30, 2023, 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.
Reverse Stock Split	Reverse Stock Split On October 12, 2023, the stockholders of the Company approved a reverse stock split of the Company’s common stock and the Board of Directors approved a split ratio of 1-for-20 . The reverse stock split was implemented on October 16, 2023. In conjunction with the reverse stock split, the number of shares of common stock authorized for issuance was reduced from 150 million to 75 million. All share and per share information, as well as other related information on equity instruments in the unaudited condensed consolidated financial statements and accompanying notes have been adjusted to reflect this change. As a result of the reverse stock split, $ 67,511 was reclassified from common stock to additional paid-in capital.
Inventories	Inventories Inventories are mainly comprised of feed, eggs, fry, fish in process and fish for sale. Fish in process inventory is a biological asset that 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”), where NRV is defined as the estimated market price, less the estimated costs of processing, packaging and transportation. The Company considers fish that has been harvested and transported from its farm to be fish for sale.
Revenue Recognition	Revenue recognition The Company is comprised of one reporting segment and 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 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 September 30, 2023, the Company recognized the following product revenue: Three Months Ended September 30, 2023 U.S. Canada Total GE Atlantic salmon $ 632,307 $ - $ 632,307 Non-GE Atlantic salmon eggs - - - Non-GE Atlantic salmon fry 88,584 88,584 Other revenue - 12,242 12,242 Total Revenue $ 632,307 $ 100,826 $ 733,133 Nine Months Ended September 30, 2023 U.S. Canada Total GE Atlantic salmon $ 1,779,045 $ - $ 1,779,045 Non-GE Atlantic salmon eggs - 730 730 Non-GE Atlantic salmon fry - 122,841 122,841 Other revenue - 16,793 16,793 Total Revenue $ 1,779,045 $ 140,364 $ 1,919,409 During the period ended September 30, 2022, the Company recognized the following product revenue: Three Months Ended September 30, 2022 U.S. Canada Total GE Atlantic salmon $ 539,311 $ 54,764 $ 594,075 Non-GE Atlantic salmon eggs - - - Non-GE Atlantic salmon fry - 48,570 48,570 Other revenue - 10,787 10,787 Total Revenue $ 539,311 $ 114,121 $ 653,432 Nine Months Ended September 30, 2022 U.S. Canada Total GE Atlantic salmon $ 2,140,703 $ 394,478 $ 2,535,181 Non-GE Atlantic salmon eggs - 46,692 46,692 Non-GE Atlantic salmon fry - 81,665 81,665 Other revenue - 22,481 22,481 Total Revenue $ 2,140,703 $ 545,316 $ 2,686,019 During the period ended September 30, 2023 and 2022, the Company had the following customer concentration of revenue: Three Months Ended September 30, 2023 2022 Customer A 36 % 36 % Customer B 19 % 18 % Customer C 12 % 18 % All other 33 % 28 % Total of all customers 100 % 100 % Nine Months Ended September 30, 2023 2022 Customer A 43 % 37 % Customer B 18 % 18 % Customer C 15 % 14 % All other 24 % 31 % Total of all customers 100 % 100 %
Net Loss Per Share	Net loss per share Basic and diluted net loss per share available to common stockholders has been calculated by dividing net loss by the weighted average number of shares of common stock outstanding during the year. Basic net loss per share is based solely on the number of shares of common stock outstanding during the year. Fully diluted net loss per share includes the number of shares of common stock issuable upon the exercise or vesting of equity instruments with an exercise price less than the fair value of the common stock. Since the Company is reporting a net loss for all periods presented, all potential shares of common stock are considered anti-dilutive and are excluded from the calculation of diluted net loss per share. The following potentially dilutive securities have been excluded from the calculation of diluted net loss per share, as their effect is anti-dilutive: Three Months Ended September 30, Weighted Average Outstanding 2023 2022 Stock options 76,811 42,544 Warrants - 20,929 Unvested stock awards 35,085 9,563 Nine Months Ended September 30, Weighted Average Outstanding 2023 2022 Stock options 55,922 40,480 Warrants 1,227 20,929 Unvested stock awards 24,869 7,904
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)	9 Months Ended
	Sep. 30, 2023
Basis of Presentation [Abstract]
Schedule of Product Information	During the period ended September 30, 2023, the Company recognized the following product revenue: Three Months Ended September 30, 2023 U.S. Canada Total GE Atlantic salmon $ 632,307 $ - $ 632,307 Non-GE Atlantic salmon eggs - - - Non-GE Atlantic salmon fry 88,584 88,584 Other revenue - 12,242 12,242 Total Revenue $ 632,307 $ 100,826 $ 733,133 Nine Months Ended September 30, 2023 U.S. Canada Total GE Atlantic salmon $ 1,779,045 $ - $ 1,779,045 Non-GE Atlantic salmon eggs - 730 730 Non-GE Atlantic salmon fry - 122,841 122,841 Other revenue - 16,793 16,793 Total Revenue $ 1,779,045 $ 140,364 $ 1,919,409 During the period ended September 30, 2022, the Company recognized the following product revenue: Three Months Ended September 30, 2022 U.S. Canada Total GE Atlantic salmon $ 539,311 $ 54,764 $ 594,075 Non-GE Atlantic salmon eggs - - - Non-GE Atlantic salmon fry - 48,570 48,570 Other revenue - 10,787 10,787 Total Revenue $ 539,311 $ 114,121 $ 653,432 Nine Months Ended September 30, 2022 U.S. Canada Total GE Atlantic salmon $ 2,140,703 $ 394,478 $ 2,535,181 Non-GE Atlantic salmon eggs - 46,692 46,692 Non-GE Atlantic salmon fry - 81,665 81,665 Other revenue - 22,481 22,481 Total Revenue $ 2,140,703 $ 545,316 $ 2,686,019
Schedule of Customer Concentration of Revenue	Three Months Ended September 30, 2023 2022 Customer A 36 % 36 % Customer B 19 % 18 % Customer C 12 % 18 % All other 33 % 28 % Total of all customers 100 % 100 % Nine Months Ended September 30, 2023 2022 Customer A 43 % 37 % Customer B 18 % 18 % Customer C 15 % 14 % All other 24 % 31 % Total of all customers 100 % 100 %
Schedule of Impact of Potentially Dilutive Securities Outstanding	Three Months Ended September 30, Weighted Average Outstanding 2023 2022 Stock options 76,811 42,544 Warrants - 20,929 Unvested stock awards 35,085 9,563 Nine Months Ended September 30, Weighted Average Outstanding 2023 2022 Stock options 55,922 40,480 Warrants 1,227 20,929 Unvested stock awards 24,869 7,904

Inventory (Tables)

Inventory (Tables)	9 Months Ended
	Sep. 30, 2023
Inventory [Abstract]
Schedule of Inventory	September 30, 2023 December 31, 2022 Feed $ 202,015 366,957 Eggs and fry 18,408 22,140 Fish in process 1,635,991 1,869,387 Fish for sale 86,006 18,108 Inventory $ 1,942,420 2,276,592

Prepaid and Other Current Ass_2

Prepaid and Other Current Assets (Tables)	9 Months Ended
	Sep. 30, 2023
Prepaid and Other Current Assets [Abstract]
Schedule of Prepaid and Other Current Assets	September 30, 2023 December 31, 2022 Receivables $ 613,680 $ 337,154 Prepaid insurance 502,302 272,958 Prepaid supplies 77,673 55,007 Prepaid professional services 2,474,874 1,446,819 Deposits and other 49,558 21,645 Prepaid expenses and other current assets $ 3,718,087 $ 2,133,583

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	September 30, 2023 December 31, 2022 Land $ 2,967,923 $ 2,968,561 Building and improvements 15,608,062 15,535,904 Construction in process 142,017,860 78,806,762 Equipment 17,874,176 17,259,301 Office furniture and equipment 220,094 258,972 Vehicles 105,861 106,074 Total property and equipment $ 178,793,976 $ 114,935,574 Less accumulated depreciation and amortization ( 10,136,842 ) ( 8,649,388 ) Property, plant and equipment, net $ 168,657,134 $ 106,286,186

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2023
Debt [Abstract]
Terms and Conditions of Long-term Debt Outstanding	Interest rate Monthly repayment Maturity date September 30, 2023 December 31, 2022 ACOA AIF Grant 0 % Royalties - $ 2,114,594 $ 2,119,476 ACOA term loan #1 0 % C$ 3,120 Feb 2027 94,217 115,158 ACOA term loan #2 0 % C$ 4,630 Sep 2029 245,424 276,743 ACOA term loan #3 0 % C$ 6,945 Dec 2025 138,053 184,500 Kubota Canada Ltd 0 % C$ 1,142 Jan 2025 13,458 21,077 DFO term loan 0 % C$ 16,865 Jan 2034 1,250,311 854,885 Finance PEI term loan 4 % C$ 16,313 Nov 2028 1,692,161 1,752,547 First Farmers Bank & Trust term loan 5.375 % $ 56,832 Oct 2028 3,021,789 3,401,019 Total debt $ 8,570,007 $ 8,725,405 less: debt issuance costs ( 40,753 ) ( 52,065 ) less: current portion ( 756,559 ) ( 2,387,231 ) Long-term debt, net $ 7,772,695 $ 6,286,109
Principal Payments Due on Long-term Debt	Total 2023 remaining $ 184,319 2024 810,698 2025 911,870 2026 884,739 2027 898,763 Thereafter 4,879,618 Total $ 8,570,007

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Operating Lease Obligations And Remaining Payments	Lease Liability September 30, 2023 December 31, 2022 Total leases $ 204,396 $ 224,058 Less: current portion ( 4,540 ) ( 20,831 ) Long-term leases $ 199,856 $ 203,227
Remaining Payments Under Leases	Year Amount 2023 remaining $ 4,243 2024 17,481 2025 18,006 2026 18,546 2027 19,103 Thereafter 564,225 Total lease payments 641,604 Less: imputed interest ( 437,208 ) Total operational lease liabilities $ 204,396

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2023
Stockholders' Equity [Abstract]
Unvested Stock Award Activity	Shares Weighted average grant date fair value Unvested at December 31, 2022 9,983 $ 37.24 Granted 39,280 10.58 Vested ( 13,342 ) 25.61 Forfeited ( 995 ) 26.86 Unvested at September 30, 2023 34,926 $ 11.99
Stock Option Activity	Number of options Weighted average exercise price Outstanding at December 31, 2022 42,033 $ 71.69 Issued 36,654 7.20 Exercised — — Forfeited ( 1,585 ) 11.92 Expired ( 454 ) 150.00 Outstanding at September 30, 2023 76,648 $ 41.62 Exercisable at September 30, 2023 41,519 $ 67.56
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 < $ 10.00 35,392 9.7 4,903 $ 20.00 - $ 50.00 35,487 6.3 31,081 $ 100.00 - $ 200.00 2,394 6.6 2,160 $ 200.00 - $ 500.00 3,375 2.4 3,375 76,648 41,519

Going Concern Uncertainty (Narr

Going Concern Uncertainty (Narrative) (Details) - USD ($)	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2021
Going Concern Uncertainty [Abstract]
Cash and cash equivalents	$ 17,767,070	$ 102,638,557	$ 128,008,620	$ 89,454,988

Basis of Presentation (Narrativ

Basis of Presentation (Narrative) (Details)	Oct. 16, 2023 USD ($)	Sep. 30, 2023 shares	Dec. 31, 2022 shares
Authorized shares of common stock | shares		75,000,000	150,000,000
Subsequent Event [Member]
Stock split conversion ratio, reverse split	0.05
Reverse stock split, reclassified from common stock to additional paid-in capital | $	$ 67,511

Basis of Presentation (Schedule

Basis of Presentation (Schedule of Product Information) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Product Information [Line Items]
Revenues	$ 733,133	$ 653,432	$ 1,919,409	$ 2,686,019
GE Atlantic salmon [Member]
Product Information [Line Items]
Revenues	632,307	594,075	1,779,045	2,535,181
Non-GE Atlantic salmon eggs [Member]
Product Information [Line Items]
Revenues			730	46,692
Non-GE Atlantic salmon fry [Member]
Product Information [Line Items]
Revenues	88,584	48,570	122,841	81,665
Other revenue [Member]
Product Information [Line Items]
Revenues	12,242	10,787	16,793	22,481
U.S. [Member]
Product Information [Line Items]
Revenues	632,307	539,311	1,779,045	2,140,703
U.S. [Member] | GE Atlantic salmon [Member]
Product Information [Line Items]
Revenues	632,307	539,311	1,779,045	2,140,703
Canada [Member]
Product Information [Line Items]
Revenues	100,826	114,121	140,364	545,316
Canada [Member] | GE Atlantic salmon [Member]
Product Information [Line Items]
Revenues		54,764		394,478
Canada [Member] | Non-GE Atlantic salmon eggs [Member]
Product Information [Line Items]
Revenues			730	46,692
Canada [Member] | Non-GE Atlantic salmon fry [Member]
Product Information [Line Items]
Revenues	88,584	48,570	122,841	81,665
Canada [Member] | Other revenue [Member]
Product Information [Line Items]
Revenues	$ 12,242	$ 10,787	$ 16,793	$ 22,481

Basis of Presentation (Schedu_2

Basis of Presentation (Schedule of Customer Concentration of Revenue) (Details) - Customer Concentration Risk [Member] - Revenue Benchmark [Member]	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Product Information [Line Items]
Concentration Risk, Percentage	100%	100%	100%	100%
Customer A [Member]
Product Information [Line Items]
Concentration Risk, Percentage	36%	36%	43%	37%
Customer B [Member]
Product Information [Line Items]
Concentration Risk, Percentage	19%	18%	18%	18%
Customer C [Member]
Product Information [Line Items]
Concentration Risk, Percentage	12%	18%	15%	14%
All Other [Member]
Product Information [Line Items]
Concentration Risk, Percentage	33%	28%	24%	31%

Basis of Presentation (Schedu_3

Basis of Presentation (Schedule of Potentially Dilutive Securities Excluded from Calculation as Effect is Anti-Dilutive) (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Stock Options [Member]
Anti-dilutive securities	76,811	42,544	55,922	40,480
Warrants [Member]
Anti-dilutive securities		20,929	1,227	20,929
Unvested Stock Awards [Member]
Anti-dilutive securities	35,085	9,563	24,869	7,904

Risks and Uncertainties (Narrat

Risks and Uncertainties (Narrative) (Details) - Credit Concentration Risk [Member] - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Concentration Risk [Line Items]
Cash equivalent investment balance	$ 0	$ 10,600
Canada [Member]
Concentration Risk [Line Items]
Cash in Canadian bank accounts	$ 272	$ 518

Inventory (Schedule of Inventor

Inventory (Schedule of Inventory) (Details) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Inventory [Line Items]
Inventory, net	$ 1,942,420	$ 2,276,592
Feed [Member]
Inventory [Line Items]
Inventory, net	202,015	366,957
Eggs And Fry [Member]
Inventory [Line Items]
Inventory, net	18,408	22,140
Fish In Process [Member]
Inventory [Line Items]
Inventory, net	1,635,991	1,869,387
Fish For Sale [Member]
Inventory [Line Items]
Inventory, net	$ 86,006	$ 18,108

Prepaid and Other Current Ass_3

Prepaid and Other Current Assets (Details) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Receivables	$ 613,680	$ 337,154
Prepaid insurance	502,302	272,958
Prepaid supplies	77,673	55,007
Prepaid professional services	2,474,874	1,446,819
Deposits and other	49,558	21,645
Prepaid expenses and other current assets	3,718,087	$ 2,133,583
Legal Expense and Fees, Bond Financing, Not Yet Completed [Member]
Prepaid professional services	$ 2,100,000

Property, Plant and Equipment_2

Property, Plant and Equipment (Narrative) (Details) - USD ($)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 1,600,000	$ 1,500,000
Gross property, plant, and equipment	178,793,976		$ 114,935,574
Commitments to purchase property, plant, and equipment	30,000,000
Construction In Process [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant, and equipment	142,017,860		$ 78,806,762
Ohio Farm [Member] | Construction In Process [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant, and equipment	136,000,000
Rollo Bay Farm And Fortune Bay Hatchery [Member] | Construction In Process [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant, and equipment	4,200,000
Indiana Aquaculture Farm [Member] | Construction In Process [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant, and equipment	$ 1,800,000

Property, Plant and Equipment_3

Property, Plant and Equipment (Schedule of Property, Plant and Equipment) (Details) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 178,793,976	$ 114,935,574
Less accumulated depreciation and amortization	(10,136,842)	(8,649,388)
Property, plant and equipment, net	168,657,134	106,286,186
Land [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	2,967,923	2,968,561
Building And Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	15,608,062	15,535,904
Construction In Process [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	142,017,860	78,806,762
Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	17,874,176	17,259,301
Office Furniture And Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	220,094	258,972
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 105,861	$ 106,074

Debt (Narrative) (Details)

Debt (Narrative) (Details)	1 Months Ended		9 Months Ended
	Sep. 30, 2020 USD ($)	Sep. 30, 2020 CAD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Mar. 28, 2023 USD ($)	Mar. 28, 2023 CAD ($)
Debt Instrument [Line Items]
Proceeds from issuance of debt			$ 394,156	$ 42,338
Interest expense			$ 196,000	$ 222,000
DFO Term Loan [Member]
Debt Instrument [Line Items]
Amount borrowed					$ 394,156	$ 539,718
Maturity date			Jan 2034
Interest rate			0%
Canadian Subsidiary [Member] | Secured Debt [Member] | DFO Term Loan [Member]
Debt Instrument [Line Items]
Proceeds from issuance of debt	$ 1,400,000	$ 1,900,000

Debt (Terms and Conditions of L

Debt (Terms and Conditions of Long-term Debt Outstanding) (Details)	9 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2023 CAD ($)	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Total debt	$ 8,570,007		$ 8,725,405
less: debt issuance costs	(40,753)		(52,065)
less: current portion	(756,559)		(2,387,231)
Long-term debt, net	$ 7,772,695		6,286,109
ACOA AIF Grant [Member]
Debt Instrument [Line Items]
Interest rate	0%
Maturity date	-	-
Total debt	$ 2,114,594		2,119,476
ACOA Term Loan #1 [Member]
Debt Instrument [Line Items]
Interest rate	0%
Monthly repayment		$ 3,120
Maturity date	Feb 2027	Feb 2027
Total debt	$ 94,217		115,158
ACOA Term Loan #2 [Member]
Debt Instrument [Line Items]
Interest rate	0%
Monthly repayment		$ 4,630
Maturity date	Sep 2029	Sep 2029
Total debt	$ 245,424		276,743
ACOA Term Loan #3 [Member]
Debt Instrument [Line Items]
Interest rate	0%
Monthly repayment		$ 6,945
Maturity date	Dec 2025	Dec 2025
Total debt	$ 138,053		184,500
Kubota Canada Ltd [Member]
Debt Instrument [Line Items]
Interest rate	0%
Monthly repayment		$ 1,142
Maturity date	Jan 2025	Jan 2025
Total debt	$ 13,458		21,077
DFO Term Loan [Member]
Debt Instrument [Line Items]
Interest rate	0%
Monthly repayment		$ 16,865
Maturity date	Jan 2034	Jan 2034
Total debt	$ 1,250,311		854,885
Finance PEI Term Loan [Member]
Debt Instrument [Line Items]
Interest rate	4%
Monthly repayment		$ 16,313
Maturity date	Nov 2028	Nov 2028
Total debt	$ 1,692,161		1,752,547
First Farmers Bank & Trust [Member]
Debt Instrument [Line Items]
Interest rate	5.375%
Monthly repayment	$ 56,832
Maturity date	Oct 2028	Oct 2028
Total debt	$ 3,021,789		$ 3,401,019

Debt (Principal Payments Due on

Debt (Principal Payments Due on Long-term Debt) (Details) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Year
2023 remaining	$ 184,319
2024	810,698
2025	911,870
2026	884,739
2027	898,763
Thereafter	4,879,618
Total debt	$ 8,570,007	$ 8,725,405

Leases (Narrative) (Details)

Leases (Narrative) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Leases [Abstract]
Lease expense	$ 67	$ 64
Weighted average remaining lease term	25 years
Lease payment	$ 71	$ 67

Leases (Summary of Lease Obliga

Leases (Summary of Lease Obligations and Remaining Payments) (Details) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Lease Obligations [Abstract]
Total leases	$ 204,396	$ 224,058
Less: current portion	(4,540)	(20,831)
Long-term leases	$ 199,856	$ 203,227

Leases (Summary of Remaining Pa

Leases (Summary of Remaining Payments under Leases) (Details) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Leases [Abstract]
2023 remaining	$ 4,243
2024	17,481
2025	18,006
2026	18,546
2027	19,103
Thereafter	564,225
Total lease payments	641,604
Less: imputed interest	(437,208)
Total operating lease liabilities	$ 204,396	$ 224,058

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Stockholders' Equity
Class of Warrant or Right, Outstanding	0		20,929
Expiration date	Jan. 17, 2023
Unvested Stock Awards [Member]
Stockholders' Equity
Share-based compensation expense	$ 294	$ 294
Unearned share-based compensation expense in future periods	$ 286
Unearned share-based compensation earn period	1 year 8 months 12 days
Granted	39,280
Stock Options [Member]
Stockholders' Equity
Share-based compensation expense	$ 130	$ 133
Unearned share-based compensation expense in future periods	$ 277
Unearned share-based compensation earn period	1 year 8 months 12 days
Intrinsic value of options outstanding	$ 0		$ 0
Intrinsic value of exercisable options	$ 0		$ 0
Granted	36,654
Exercisable term	10 years
Minimum [Member] | Stock Options [Member]
Stockholders' Equity
Award vesting period	1 year
Maximum [Member] | Stock Options [Member]
Stockholders' Equity
Award vesting period	3 years
Equity Incentive Plan 2006 [Member] | Reserved for Exercise of Outstanding Stock Options and Unvested Stock Awards [Member]
Stockholders' Equity
Common stock reserved for future issuances (in shares)	76,648
2016 Equity Incentive Plan [Member] | Reserved for Exercise of Outstanding Stock Options and Unvested Stock Awards [Member]
Stockholders' Equity
Common stock reserved for future issuances (in shares)	34,926
2016 Equity Incentive Plan [Member] | Reserved for Future Equity Awards [Member]
Stockholders' Equity
Common stock reserved for future issuances (in shares)	68,296

Stockholders' Equity (Unvested

Stockholders' Equity (Unvested Stock Award Activity) (Details) - Unvested Stock Awards [Member]	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Shares
Unvested, beginning balance | shares	9,983
Granted | shares	39,280
Vested | shares	(13,342)
Forfeited | shares	(995)
Unvested, ending balance | shares	34,926
Weighted average grant date fair value
Unvested, beginning balance | $ / shares	$ 37.24
Granted | $ / shares	10.58
Vested | $ / shares	25.61
Forfeited | $ / shares	26.86
Unvested, ending balance | $ / shares	$ 11.99

Stockholders' Equity (Stock Opt

Stockholders' Equity (Stock Option Activity) (Details) - Stock Options [Member]	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Number of options
Outstanding, beginning balance | shares	42,033
Issued | shares	36,654
Exercised | shares
Forfeited | shares	(1,585)
Expired | shares	(454)
Outstanding, ending balance | shares	76,648
Exercisable | shares	41,519
Weighted average exercise price
Outstanding, beginning balance | $ / shares	$ 71.69
Issued | $ / shares	7.20
Exercised | $ / shares
Forfeited | $ / shares	11.92
Expired | $ / shares	150
Outstanding, ending balance | $ / shares	41.62
Exercisable | $ / shares	$ 67.56

Stockholders' Equity (Informati

Stockholders' Equity (Information About Options Outstanding and Exercisable) (Details) - Stock Options [Member]	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding	76,648
Number of options exercisable	41,519
Less than $10.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding	35,392
Weighted average remaining estimated life (in years)	9 years 8 months 12 days
Number of options exercisable	4,903
$20.00 - $50.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding	35,487
Weighted average remaining estimated life (in years)	6 years 3 months 18 days
Number of options exercisable	31,081
$100.00 - $200.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding	2,394
Weighted average remaining estimated life (in years)	6 years 7 months 6 days
Number of options exercisable	2,160
$200.00 - $500.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding	3,375
Weighted average remaining estimated life (in years)	2 years 4 months 24 days
Number of options exercisable	3,375
Minimum [Member] | Less than $10.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options | $ / shares	$ 10
Minimum [Member] | $20.00 - $50.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options | $ / shares	20
Minimum [Member] | $100.00 - $200.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options | $ / shares	100
Minimum [Member] | $200.00 - $500.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options | $ / shares	200
Maximum [Member] | $20.00 - $50.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options | $ / shares	50
Maximum [Member] | $100.00 - $200.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options | $ / shares	200
Maximum [Member] | $200.00 - $500.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options | $ / shares	$ 500

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2023
Tax Credit Carryforward [Line Items]
Unrecognized income tax benefits	$ 0
Income tax expense (benefit)	$ 0
Forecast
Tax Credit Carryforward [Line Items]
Effective tax rate		0%