NextDecade (NEXT) 10-K 10 Mar 23 2022 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2022	Mar. 02, 2023	Jun. 30, 2022
Document Information [Line Items]
Entity Central Index Key	0001612720
Entity Registrant Name	NextDecade Corp.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2022
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Document Transition Report	false
Entity File Number	001-36842
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-5723951
Entity Address, Address Line One	1000 Louisiana Street, Suite 3900
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77002
City Area Code	713
Local Phone Number	574-1880
Title of 12(b) Security	Common stock $0.0001 par value
Trading Symbol	NEXT
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 134,300,000
Entity Common Stock, Shares Outstanding		150,573,984
Auditor Firm ID	248
Auditor Name	GRANT THORNTON LLP
Auditor Location	Houston, Texas

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 62,789	$ 25,552
Prepaid expenses and other current assets	1,149	835
Total current assets	63,938	26,387
Property, plant and equipment, net	218,646	173,816
Operating lease right-of-use assets, net	1,474	590
Other non-current assets	28,372	21,312
Total assets	312,430	222,105
Current liabilities
Accounts payable	1,084	281
Accrued liabilities and other current liabilities	23,184	5,973
Current Common Stock Warrant liabilities	0	1,376
Current operating lease liabilities	1,093	596
Total current liabilities	25,361	8,226
Non-current Common Stock Warrant liabilities	6,790	2,587
Non-current operating lease liabilities	465	0
Other non-current liabilities	23,000	23,000
Total liabilities	55,616	33,813
Commitments and contingencies (Note 14)
Stockholders’ equity
Common stock, $0.0001 par value Authorized: 480.0 million shares at December 31, 2022 and 2021, Issued and outstanding: 143.5 million shares and 120.8 million shares at December 31, 2022 and 2021, respectively	14	12
Treasury stock: 991,089 shares and 346,126 shares at December 31, 2022 and 2021, respectively, at cost	(4,587)	(1,315)
Preferred stock, $0.0001 par value Authorized: 0.5 million, after designation of the Convertible Preferred Stock, Issued and outstanding: none at December 31, 2022 and 2021	0	0
Additional paid-in-capital	289,084	191,264
Accumulated deficit	(230,140)	(170,069)
Total stockholders’ equity	54,371	19,892
Total liabilities, Convertible Preferred Stock and stockholders’ equity	312,430	222,105
Series A Convertible Preferred Stock [Member]
Current liabilities
Convertible Preferred Stock	73,026	63,791
Series B Convertible Preferred Stock [Member]
Current liabilities
Convertible Preferred Stock	73,408	64,602
Series C Convertible Preferred Stock [Member]
Current liabilities
Convertible Preferred Stock	$ 56,009	$ 40,007

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	480,000,000	480,000,000
Common stock, shares issued (in shares)	143,500,000	120,800,000
Common stock, shares outstanding (in shares)	143,500,000	120,800,000
Treasury stock, shares (in shares)	991,089	346,126
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	500,000	500,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Series A Convertible Preferred Stock [Member]
Temporary equity, liquidation preference (in dollars per share)	$ 1,000	$ 1,000
Temporary equity, shares issued (in shares)	82,948	73,713
Temporary equity, shares outstanding (in shares)	82,948	73,713
Series B Convertible Preferred Stock [Member]
Temporary equity, liquidation preference (in dollars per share)	$ 1,000	$ 1,000
Temporary equity, shares issued (in shares)	79,239	70,433
Temporary equity, shares outstanding (in shares)	79,239	70,433
Series C Convertible Preferred Stock [Member]
Temporary equity, liquidation preference (in dollars per share)	$ 1,000	$ 1,000
Temporary equity, shares issued (in shares)	59,366	42,490
Temporary equity, shares outstanding (in shares)	59,366	42,490

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Revenues	$ 0	$ 0
Operating Expenses
General and administrative expenses	49,093	16,803
Development expense, net	4,101	1,615
Lease expense	1,119	905
Depreciation expense	162	184
Total operating expenses	54,475	19,507
Total operating loss	(54,475)	(19,507)
Other income (expense)
Loss on Common Stock Warrant liabilities	(5,747)	(2,533)
Other, net	151	1
Total other expense	(5,596)	(2,532)
Net loss attributable to NextDecade Corporation	(60,071)	(22,039)
Preferred stock dividends	(24,282)	(18,294)
Deemed dividends on Series A Convertible Preferred Stock	0	(63)
Net loss attributable to common stockholders	$ (84,353)	$ (40,396)
Net loss per common share - basic and diluted (in dollars per share)	$ (0.65)	$ (0.34)
Weighted average shares outstanding - basic and diluted (in shares)	130,136	119,201

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity and Convertible Preferred Stock - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Series A Convertible Preferred Stock [Member]	Series B Convertible Preferred Stock [Member]	Series C Convertible Preferred Stock [Member]	Total
Balance (in shares) at Dec. 31, 2020	117,829	249
Balance at Dec. 31, 2020	$ 12	$ (1,031)	$ 209,481	$ (148,030)	$ 55,522	$ 56,781		$ 60,432
Share-based compensation			(4,541)					(4,541)
Restricted stock vesting (in shares)	660
Shares repurchased related to share-based compensation (in shares)	(97)	97
Shares repurchased related to share-based compensation		$ (284)						(284)
Issuance of common stock, net (in shares)	163
Issuance of common stock, net			316				$ 37,807	316
Stock dividend (in shares)	798
Exercise of common stock warrants (in shares)	1,485
Exercise of common stock warrants			4,365					4,365
Preferred stock dividends			(18,294)		8,206	7,821	2,200	(18,294)
Deemed dividends - accretion of beneficial conversion feature			(63)		63			(63)
Net Loss				(22,039)				(22,039)
Balance (in shares) at Dec. 31, 2021	120,838	346
Balance at Dec. 31, 2021	$ 12	$ (1,315)	191,264	(170,069)	63,791	64,602	40,007	19,892
Share-based compensation			7,472					7,472
Restricted stock vesting (in shares)	2,763
Shares repurchased related to share-based compensation (in shares)	(645)	645
Shares repurchased related to share-based compensation		$ (3,272)						(3,272)
Issuance of common stock, net (in shares)	20,073
Issuance of common stock, net	$ 2		111,066				9,836	$ 111,068
Exercise of common stock warrants (in shares)	520							500
Exercise of common stock warrants			3,564					$ 3,564
Preferred stock dividends			(24,282)		9,235	8,806	6,166	(24,282)
Net Loss				(60,071)				(60,071)
Balance (in shares) at Dec. 31, 2022	143,549	991
Balance at Dec. 31, 2022	$ 14	$ (4,587)	$ 289,084	$ (230,140)	$ 73,026	$ 73,408	$ 56,009	$ 54,371

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Operating activities:
Net loss attributable to NextDecade Corporation	$ (60,071)	$ (22,039)
Adjustment to reconcile net loss to net cash used in operating activities
Depreciation	162	184
Share-based compensation expense (forfeiture)	7,472	(4,313)
Loss on Common Stock Warrant liabilities	5,747	2,533
Amortization of right-of-use assets	756	551
Amortization of other non-current assets	354	1,416
Changes in operating assets and liabilities:
Prepaid expenses	(314)	(186)
Accounts payable	684	(26)
Operating lease liabilities	(678)	(548)
Accrued expenses and other liabilities	5,812	4,468
Net cash used in operating activities	(40,076)	(17,960)
Investing activities:
Acquisition of property, plant and equipment	(33,753)	(12,105)
Acquisition of other non-current assets	(7,135)	(6,429)
Net cash used in investing activities	(40,888)	(18,534)
Financing activities:
Proceeds from sale of Series C Convertible Preferred Stock	10,500	39,500
Proceeds from sale of common stock	115,000	557
Equity issuance costs	(3,952)	(268)
Preferred stock dividends	(75)	(67)
Shares repurchased related to share-based compensation	(3,272)	(284)
Net cash provided by financing activities	118,201	39,438
Net increase in cash and cash equivalents	37,237	2,944
Cash and cash equivalents – beginning of period	25,552	22,608
Cash and cash equivalents – end of period	62,789	25,552
Non-cash investing activities:
Accounts payable for acquisition of property, plant and equipment	162	117
Accrued liabilities for acquisition of property, plant and equipment	12,046	926
Accrued liabilities for acquisition of other non-current assets	279	0
Pipeline assets obtained in exchange for other non-current liabilities	0	84
Non-cash financing activities:
Paid-in-kind dividends on Convertible Preferred Stock	24,207	18,227
Accretion of deemed dividends on Series A Convertible Preferred Stock	0	63
Accrued liabilities for equity issuance costs	$ 0	$ 35

Note 1 - Background and Basis o

Note 1 - Background and Basis of Presentation	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	1 NextDecade Corporation engages in development activities related to the liquefaction and sale of liquefied natural gas (“LNG”) and the capture and storage of CO 2 third Our Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). All intercompany accounts and transactions have been eliminated in consolidation. Certain reclassifications have been made to conform prior period information to the current presentation. The reclassifications did not The Company has incurred operating losses since its inception and management expects operating losses and negative cash flows to continue for the foreseeable future and, as a result, the Company will require additional capital to fund its operations and execute its business plan. As of December 31, 2022 may not one not twelve The Company plans to alleviate the going concern issue by obtaining sufficient funding through additional equity, equity-based or debt instruments or any other means and managing certain operating and overhead costs. The Company may not may not not no These consolidated financial statements have been prepared on a going concern basis and do not may no

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Significant Accounting Policies [Text Block]	Note 2 Summary of Significant Accounting Policies Use of Estimates The preparation of Consolidated Financial Statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and the accompanying notes. Management evaluates its estimates and related assumptions regularly, including those related to the value of property, plant and equipment, income taxes including valuation allowances for net deferred tax assets, share-based compensation and fair value measurements. Changes in facts and circumstances or additional information may may Concentrations of Credit Risk Financial instruments that potentially subject us to a concentration of credit risk consist principally of cash and cash equivalents. We maintain cash and cash equivalent balances with a single financial institution, which may not Cash Equivalents We consider all highly liquid investments with an original maturity of three Property, Plant and Equipment Generally, we begin to capitalize the costs of our development projects once construction of the individual project is probable. This assessment includes the following criteria: • funding for design and permitting has been identified and is expected in the near-term; • key vendors for development activities have been identified, and we expect to engage them at commercially reasonable terms; • we have committed to commencing development activities; • regulatory approval is probable; • construction financing is expected to be available at the time of a final investment decision (“FID”); • prospective customers have been identified and the FID is probable; and • receipt of customary local tax incentives, as needed for project viability, is probable. Prior to meeting the criteria above, costs associated with a project are expensed as incurred. Expenditures for normal repairs and maintenance are expensed as incurred. When assets are retired or disposed, the cost and accumulated depreciation are eliminated from the accounts and any gain or loss is reflected in our Consolidated Statements of Operations. Property, plant and equipment is carried at historical cost and depreciated using the straight-line method over their estimated useful lives. Leasehold improvements are depreciated over the lesser of the economic life of the leasehold improvement or the term of the lease, without regard to extension or renewal rights. Management tests property, plant and equipment for impairment whenever events or changes in circumstances have indicated that the carrying amount of property, plant and equipment might not not Leases The Company determines if a contractual arrangement represents or contains a lease at inception. Operating leases with lease terms greater than twelve Operating lease right-of-use assets and lease liabilities are recognized at the commencement date based on the present value of the future lease payments over the lease term. The Company utilizes its incremental borrowing rate in determining the present value of the future lease payments. The incremental borrowing rate is derived from information available at the lease commencement date and represents the rate of interest that the Company would have to pay to borrow on a collateralized basis over a similar term and amount equal to the lease payments in a similar economic environment. The right-of-use assets and lease liabilities may Warrants The Company determines the accounting classification of warrants that are issued, as either liability or equity, by first 480 Distinguishing Liabilities from Equity 480” 815 40, Accounting for Derivative Financial Instruments Indexed to, and Potentially Settled in, a Company’s Own Stock 815 40” 480, may If warrants do not 480, 815 40, may not 815 40, 815 40 no Fair Value of Financial Instruments Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. Hierarchy Levels 1, 2 3 1 2 1 3 not Note 9 Preferred Stock and Common Stock Warrants Treasury Stock Treasury stock is recorded at cost. Issuance of treasury stock is accounted for on a weighted average cost basis. Differences between the cost of treasury stock and the re-issuance proceeds are charged to additional paid-in capital. Net Earnings (Loss) Per Share Net earnings (loss) per share (“EPS”) is computed in accordance with GAAP. Basic EPS excludes dilution and is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted EPS reflects potential dilution and is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the period increased by the number of additional common shares that would have been outstanding if the potential common shares had been issued and were dilutive. The dilutive effect of unvested stock and warrants is calculated using the treasury-stock method and the dilutive effect of convertible securities is calculated using the if-converted method. Basic and diluted EPS for all periods presented are the same since the effect of our potentially dilutive securities are anti-dilutive to our net loss per share, as disclosed in Note 11 Net Loss Per Share Attributable to Common Stockholders . Share-based Compensation We recognize share-based compensation at fair value on the date of grant. The fair value is recognized as expense (net of any capitalization) over the requisite service period. For equity-classified share-based compensation awards, compensation cost is recognized based on the grant-date fair value using the quoted market price of our common stock and not Income Taxes Provisions for income taxes are based on taxes payable or refundable for the current year and deferred taxes on temporary differences between the tax basis of assets and liabilities and their reported amounts in the Consolidated Financial Statements. Deferred tax assets and liabilities are included in the Consolidated Financial Statements at currently enacted income tax rates applicable to the period in which the deferred tax assets and liabilities are expected to be realized or settled. As changes in tax laws or rates are enacted, deferred tax assets and liabilities are adjusted through the current period’s provision for income taxes. A valuation allowance is recorded to reduce the carrying value of our net deferred tax assets when it is more likely than not not not Segments The Company's chief operating decision maker allocates resources and assesses financial performance on a consolidated basis. As such, for purposes of financial reporting under GAAP during the years ended December 31, 2022 2021 Smaller Reporting Company Under Rule 12b 2 1934, second $250 may not

Note 3 - Prepaid Expenses and O

Note 3 - Prepaid Expenses and Other Current Assets	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Prepaid Expense and Other Current Assets [Text Block]	Note 3 Prepaid expenses and other current assets consisted of the following (in thousands): December 31, December 31, 2022 2021 Prepaid subscriptions $ 423 $ 85 Prepaid insurance 619 376 Prepaid marketing and sponsorships — 60 Other 107 314 Total prepaid expenses and other current assets $ 1,149 $ 835

Note 4 - Sale of Equity Interes

Note 4 - Sale of Equity Interests in Rio Bravo Pipeline, LLC	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Equity Method Investments and Joint Ventures Disclosure [Text Block]	4 On March 2, 2020, February 13, 2020, five Pursuant to the RBPL Precedent Agreement, Rio Bravo agreed to provide Rio Grande Gas Supply with firm natural gas transportation services on the Pipeline in a quantity sufficient to match the full operational capacity of each proposed liquefaction train of the Terminal. Rio Bravo’s obligation to construct, install, own, operate and maintain the Pipeline is conditioned on its receipt, no December 31, 2023, twenty Pursuant to the VCP Precedent Agreement, VCP agreed to provide Rio Grande Gas Supply with natural gas transportation services on the Valley Crossing Pipeline in a quantity sufficient to match the commissioning requirements of each proposed liquefaction train of the Terminal. VCP’s obligation to construct, install, own, operate and maintain the necessary interconnection to the Terminal and the Pipeline is conditioned on its receipt, no December 31, 2023, If Rio Grande or its affiliate fail to issue a full notice to proceed to the EPC Contractor on or prior to December 31, 2023, not not December 31, 2022

Note 5 - Property, Plant and Eq

Note 5 - Property, Plant and Equipment	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	Note 5 Property, plant and equipment consisted of the following (in thousands): December 31, December 31, 2022 2021 Fixed Assets Computers $ 780 $ 633 Furniture, fixtures, and equipment 610 464 Leasehold improvements 101 101 Total fixed assets 1,491 1,198 Less: accumulated depreciation (1,006 ) (844 ) Total fixed assets, net 485 354 Terminal and Pipeline Assets (not placed in service) Terminal 197,144 152,445 Pipeline 21,017 21,017 Total Terminal and Pipeline assets 218,161 173,462 Total property, plant and equipment, net $ 218,646 $ 173,816 Depreciation expense for the years ended December 31, 2022 2021

Note 6 - Leases

Note 6 - Leases	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	6 We currently lease approximately 33,800 square feet of office space for general and administrative purposes in Houston, Texas under a lease agreement that expires on December 31, 2023. October 31, 2025. On March 6, 2019, The initial term of the Rio Grande Site Lease is for 30 years (the “Primary Term”), which will commence on the date specified in a written notice by Rio Grande to BND (the “Effective Date Notice”), if given, confirming that Rio Grande or a Rio Grande affiliate has made a positive FID for the first two ten not no November 6, 2019 ( one On April 20, 2022 , May 6, 2023 ( May 6, 2024 no Operating lease right-of-use assets are as follows (in thousands): December 31, December 31, 2022 2021 Office leases $ 1,474 $ 590 Total operating lease right-of-use assets, net $ 1,474 $ 590 Operating lease liabilities are as follows (in thousands): December 31, December 31, 2022 2021 Office leases $ 1,093 $ 596 Total current lease liabilities 1,093 596 Non-current office leases 465 — Total lease liabilities $ 1,558 $ 596 Operating lease expense is as follows (in thousands): December 31, December 31, 2022 2021 Office leases $ 887 $ 627 Total operating lease expense 887 627 Short-term lease expense 232 278 Total lease expense $ 1,119 $ 905 Maturity of operating lease liabilities as of December 31, 2022 2023 $ 1,300 2024 273 2025 250 2026 — 2027 — Thereafter — Total undiscounted lease payments 1,823 Discount to present value (265 ) Present value of lease liabilities $ 1,558 Other information related to our operating leases as of December 31, 2022 December 31, December 31, 2022 2021 Cash paid for amounts included in the measurement of operating lease liabilities: Cash flows from operating activities $ 678 $ 624 Noncash right-of-use assets recorded for operating lease liabilities: In exchange for new operating lease liabilities during the period 1,640 712

Note 7 - Other Non-current Asse

Note 7 - Other Non-current Assets	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Other Assets Disclosure [Text Block]	Note 7 Other non-current assets consisted of the following (in thousands): December 31, December 31, 2022 2021 Permitting costs (1) $ 8,575 $ 7,609 Enterprise resource planning system, net — 354 Rio Grande Site Lease initial direct costs 19,612 13,314 Deposits and other 185 35 Total other non-current assets, net $ 28,372 $ 21,312 ( 1 Permitting costs primarily represent costs incurred in connection with our permit applications to the United States Army Corps of Engineers and the U.S. Fish and Wildlife Service for wetlands and habitat mitigation measures for potential impacts to wetlands and habitat that may

Note 8 - Accrued Liabilities an

Note 8 - Accrued Liabilities and Other Current Liabilities	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]	Note 8 Accrued expenses and other current liabilities consisted of the following (in thousands): December 31, December 31, 2022 2021 Employee compensation expense $ 6,650 $ 4,358 Terminal asset costs 12,046 926 Permitting costs 279 — Accrued legal services 3,124 70 Share-based compensation liability 182 182 Other accrued liabilities 903 437 Total accrued liabilities and other current liabilities $ 23,184 $ 5,973

Note 9 - Preferred Stock and Co

Note 9 - Preferred Stock and Common Stock Warrants	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
PreferredStockAndWarrants [Text Block]	9 Preferred Stock As of December 31, 2020 , In March 2021, In April 2021 , the Company sold 10,000 shares of Series C Preferred Stock, at $1,000 per share for a purchase price of $10 million and issued an additional 200 shares of Series C Preferred Stock as an origination fee to the purchaser of the Series C Preferred Stock. In July 2021 , the Company sold 5,000 shares of Series C Preferred Stock, at $1,000 per share for a purchase price of $5 million and issued an additional 100 shares of Series C Preferred Stock as an origination fee to the purchaser of the Series C Preferred Stock. In March 2022 , “2022 “2022 As of December 31, 2022 , Net proceeds from the sales of the 2022 2022 2022 Allocation of Proceeds 2022 Series C 2022 Series C Preferred Warrants Stock Gross proceeds $ 10,500 Equity issuance costs (20 ) Net proceeds - Initial Fair Value Allocation $ 10,480 $ 644 $ 9,836 Per balance sheet upon issuance $ 644 $ 9,836 Net proceeds from the sales of Series C Preferred Stock during 2021 2021 Allocation of Proceeds 2021 Series C 2021 Series C Preferred Warrants Stock Gross proceeds $ 39,500 Equity issuance costs (62 ) Net proceeds - Initial Fair Value Allocation $ 39,438 $ 1,631 $ 37,807 Per balance sheet upon issuance $ 1,631 $ 37,807 As of December 31, 2022 , The Company has the option to convert all, but not ten tenth 10th The shares of Convertible Preferred Stock bear dividends at a rate of 12% per annum, which are cumulative and accrue daily from the date of issuance on the $1,000 stated value. Such dividends are payable quarterly and may December 31, 2022 2021 January 12, 2023, December 15, 2022. January 17, 2023, The holders of Convertible Preferred Stock vote on an “as-converted” basis with the holders of the Company common stock on all matters brought before the holders of Company common stock. In addition, the holders of Convertible Preferred Stock have separate class voting rights with respect to certain matters affecting their rights. Shares of the Convertible Preferred Stock do not 480 not X, 5 02 27 not Common Stock Warrants Warrants, exercisable for Company common stock, were issued together with the shares of Convertible Preferred Stock (collectively, “Common Stock Warrants”). As of December 31, 2022 2021 71 86 The Common Stock Warrants have a fixed three may three 175% 815 40 , December 31, 2022 2021 3 The assumptions used in the Monte Carlo simulation to estimate the fair value of the Common Stock Warrants as of December 31, 2022 2020 December 31, December 31, 2022 2021 Stock price $ 4.94 $ 2.85 Exercise price $ 0.01 $ 0.01 Risk-free rate 4.6 % 0.1 % Volatility 52.5 % 62.6 % Term (years) 1.5 1.6

Note 10 - Shareholders' Equity

Note 10 - Shareholders' Equity	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	Note 10 Stockholders' Equity Common Stock Purchase Agreements On April 6, 2022 , April 7, 2022 . On September 14, 2022 , September 19, 2022 . Common Stock Warrants During the year ended December 31, 2022 ,

Note 11 - Net Loss Per Share At

Note 11 - Net Loss Per Share Attributable to Common Stockholders	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Earnings Per Share [Text Block]	11 The following table (in thousands, except for loss per share) reconciles basic and diluted weighted average common shares outstanding for the years ended December 31, 2022 2021 Year Ended December 31, 2022 2021 Weighted average common shares outstanding: Basic 130,136 119,201 Dilutive unvested stock, convertible preferred stock, Common Stock Warrants and IPO Warrants — — Diluted 130,136 119,201 Basic and diluted net loss per share attributable to common stockholders $ (0.65 ) $ (0.34 ) Potentially dilutive securities that were not Year Ended December 31, 2022 2021 Unvested stock (1) 1,904 1,662 Convertible preferred stock 46,533 30,754 Common Stock Warrants 1,382 2,207 IPO Warrants (2) — 12,082 Total potentially dilutive common shares 49,819 46,705 ( 1 Does not December 31, 2022 2021 not December 31, 2022 2021 ( 2 The IPO Warrants were issued in connection with our initial public offering in 2015 July 24, 2022.

Note 12 - Share-based Compensat

Note 12 - Share-based Compensation	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	12 We have granted shares of Company common stock, restricted Company common stock and restricted stock units to employees, consultants and non-employee directors under our 2017 Total share-based compensation consisted of the following (in thousands): Year Ended December 31, 2022 2021 Share-based compensation expense (forfeiture): Equity awards $ 7,472 $ (4,541 ) Liability awards — — Total share-based compensation (forfeiture) 7,472 (4,541 ) Capitalized share-based compensation — 228 Total share-based compensation expense (forfeiture) $ 7,472 $ (4,313 ) Certain employee arrangements provided for cash bonuses upon a positive FID on the Terminal (the “FID Bonus”). In January 2018, December 31, 2022 2021 The total unrecognized compensation costs at December 31, 2022 Restricted Stock Awards Restricted stock awards are awards of Company common stock that are subject to restrictions on transfer and to a risk of forfeiture if the recipient’s employment with the Company is terminated prior to the lapse of the restrictions. Restricted stock awards vest based on service conditions and/or performance conditions. The amortization of the value of restricted stock grants is accounted for as a charge to compensation expense, or capitalized, depending on the nature of the services provided by the employee, with a corresponding increase to additional-paid-in-capital over the requisite service period. Grants of restricted stock to employees, non-employees and non-employee directors that vest based on service and/or performance conditions are measured at the closing quoted market price of our common stock on the grant date. The table below provides a summary of our restricted stock awards outstanding as of December 31, 2022 December 31, 2022 Shares Weighted Average Grant Date Fair Value Per Share Non-vested at January 1, 2022 3,038 $ 5.88 Granted 217 2.21 Vested (1,507 ) 4.29 Forfeited (665 ) 5.81 Non-vested at December 31, 2022 1,083 $ 7.51 Restricted Stock Units and Performance Stock Units Restricted stock units are stock awards that vest over a service period of one two three three Where applicable, the compensation for performance stock units containing market conditions of TSR and RTSR are based on a fair value using a Monte Carlo simulation as of the grant date, which utilizes level 3 may one one The table below provides a summary of our restricted stock units outstanding as of December 31, 2022 December 31, 2022 Shares Weighted Average Grant Date Fair Value Per Share Non-vested at January 1, 2022 7,104 3.31 Granted 6,106 6.52 Vested (1,261 ) 6.17 Forfeited (1,645 ) 3.61 Non-vested at December 31, 2022 10,304 $ 4.82

Note 13 - Income Taxes

Note 13 - Income Taxes	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Income Tax Disclosure [Text Block]	13 The reconciliation of the federal statutory income tax rate to our effective income tax rate is as follows: Year Ended December 31, 2022 2021 U.S. federal statutory rate, beginning of year 21 % 21 % Common stock warrant liabilities (2 ) — Officers' compensation (1 ) — Other (1 ) (4 ) Valuation allowance (17 ) (17 ) Effective tax rate as reported — % — % Significant components of our deferred tax assets and liabilities at December 31, 2022 2021 Year Ended December 31, 2022 2021 Deferred tax assets Net operating loss carryforwards and credits $ 36,835 $ 25,742 Employee compensation 1,113 570 Share-based compensation expense 1,066 2,053 Development costs 964 — Property, plant and equipment 749 753 Operating lease liabilities 187 125 Other 36 55 Less: valuation allowance (36,642 ) (26,378 ) Total deferred tax assets 4,308 2,920 Deferred tax liabilities Operating lease right-of-use assets (4,308 ) (2,920 ) Total deferred tax liabilities (4,308 ) (2,920 ) Net deferred tax assets (liabilities) $ — $ — The federal deferred tax assets presented above do not At December 31, 2022 2034 2038. Due to our history of NOLs, current year NOLs and significant risk factors related to our ability to generate taxable income, we have established a valuation allowance to offset our deferred tax assets as of December 31, 2022 2021 not December 31, 2022 2021 The Tax Reform Act of 1986 382 382” may not 382 may not We remain subject to periodic audits and reviews by taxing authorities; however, we did not December 31, 2022. 2019 In response to the global pandemic related to COVID- 19, March 27, 2020 2021 December 27, 2020. 163 December 31, 2022, no 19

Note 14 - Commitments and Conti

Note 14 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	14 Obligation under LNG Sale and Purchase Agreement In March 2019, 20 two million first three In the first 2020, first The Company is party to other SPAs which will become effective upon the occurrence of certain conditions precedent, including completion of the construction of the Terminal. Other Commitments On March 6, 2019, April 20, 2022 , May 6, 2023 ( May 6, 2024 no In connection with the Rio Grande Site Lease Amendment, Rio Grande is committed to pay approximately $1.6 million per quarter to the BND through the earlier of the Effective Date and lease commencement. Legal Proceedings From time to time the Company may As of December 31, 2022 not not

Note 15 - Recent Accounting Pro

Note 15 - Recent Accounting Pronouncements	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Accounting Standards Update and Change in Accounting Principle [Text Block]	15 The following table provides a brief description of recent accounting standards that have been adopted by the Company during the reporting period: Standard Description Date of Adoption Effect on our Consolidated Financial Statements or Other Significant Matters ASU 2020 06, Subtopic 470 20 Subtopic 815 40 This standard simplifies the accounting for convertible instruments primarily by eliminating the existing cash conversion and beneficial conversion models within Subtopic 470 20, January 1, 2022 The Company adopted this standard using the modified retrospective approach, which did not

Note 16 - Subsequent Events

Note 16 - Subsequent Events	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Subsequent Events [Text Block]	Note 16 On February 3, 2023, five We have evaluated subsequent events through March 10, 2023,

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of Consolidated Financial Statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and the accompanying notes. Management evaluates its estimates and related assumptions regularly, including those related to the value of property, plant and equipment, income taxes including valuation allowances for net deferred tax assets, share-based compensation and fair value measurements. Changes in facts and circumstances or additional information may may
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentrations of Credit Risk Financial instruments that potentially subject us to a concentration of credit risk consist principally of cash and cash equivalents. We maintain cash and cash equivalent balances with a single financial institution, which may not
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash Equivalents We consider all highly liquid investments with an original maturity of three
Property, Plant and Equipment, Policy [Policy Text Block]	Property, Plant and Equipment Generally, we begin to capitalize the costs of our development projects once construction of the individual project is probable. This assessment includes the following criteria: • funding for design and permitting has been identified and is expected in the near-term; • key vendors for development activities have been identified, and we expect to engage them at commercially reasonable terms; • we have committed to commencing development activities; • regulatory approval is probable; • construction financing is expected to be available at the time of a final investment decision (“FID”); • prospective customers have been identified and the FID is probable; and • receipt of customary local tax incentives, as needed for project viability, is probable. Prior to meeting the criteria above, costs associated with a project are expensed as incurred. Expenditures for normal repairs and maintenance are expensed as incurred. When assets are retired or disposed, the cost and accumulated depreciation are eliminated from the accounts and any gain or loss is reflected in our Consolidated Statements of Operations. Property, plant and equipment is carried at historical cost and depreciated using the straight-line method over their estimated useful lives. Leasehold improvements are depreciated over the lesser of the economic life of the leasehold improvement or the term of the lease, without regard to extension or renewal rights. Management tests property, plant and equipment for impairment whenever events or changes in circumstances have indicated that the carrying amount of property, plant and equipment might not not
Lessee, Leases [Policy Text Block]	Leases The Company determines if a contractual arrangement represents or contains a lease at inception. Operating leases with lease terms greater than twelve Operating lease right-of-use assets and lease liabilities are recognized at the commencement date based on the present value of the future lease payments over the lease term. The Company utilizes its incremental borrowing rate in determining the present value of the future lease payments. The incremental borrowing rate is derived from information available at the lease commencement date and represents the rate of interest that the Company would have to pay to borrow on a collateralized basis over a similar term and amount equal to the lease payments in a similar economic environment. The right-of-use assets and lease liabilities may
Warrants [Policy Text Block]	Warrants The Company determines the accounting classification of warrants that are issued, as either liability or equity, by first 480 Distinguishing Liabilities from Equity 480” 815 40, Accounting for Derivative Financial Instruments Indexed to, and Potentially Settled in, a Company’s Own Stock 815 40” 480, may If warrants do not 480, 815 40, may not 815 40, 815 40 no
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value of Financial Instruments Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. Hierarchy Levels 1, 2 3 1 2 1 3 not Note 9 Preferred Stock and Common Stock Warrants
Treasury Stock [Policy Text Block]	Treasury Stock Treasury stock is recorded at cost. Issuance of treasury stock is accounted for on a weighted average cost basis. Differences between the cost of treasury stock and the re-issuance proceeds are charged to additional paid-in capital.
Earnings Per Share, Policy [Policy Text Block]	Net Earnings (Loss) Per Share Net earnings (loss) per share (“EPS”) is computed in accordance with GAAP. Basic EPS excludes dilution and is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted EPS reflects potential dilution and is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the period increased by the number of additional common shares that would have been outstanding if the potential common shares had been issued and were dilutive. The dilutive effect of unvested stock and warrants is calculated using the treasury-stock method and the dilutive effect of convertible securities is calculated using the if-converted method. Basic and diluted EPS for all periods presented are the same since the effect of our potentially dilutive securities are anti-dilutive to our net loss per share, as disclosed in Note 11 Net Loss Per Share Attributable to Common Stockholders .
Share-Based Payment Arrangement [Policy Text Block]	Share-based Compensation We recognize share-based compensation at fair value on the date of grant. The fair value is recognized as expense (net of any capitalization) over the requisite service period. For equity-classified share-based compensation awards, compensation cost is recognized based on the grant-date fair value using the quoted market price of our common stock and not
Income Tax, Policy [Policy Text Block]	Income Taxes Provisions for income taxes are based on taxes payable or refundable for the current year and deferred taxes on temporary differences between the tax basis of assets and liabilities and their reported amounts in the Consolidated Financial Statements. Deferred tax assets and liabilities are included in the Consolidated Financial Statements at currently enacted income tax rates applicable to the period in which the deferred tax assets and liabilities are expected to be realized or settled. As changes in tax laws or rates are enacted, deferred tax assets and liabilities are adjusted through the current period’s provision for income taxes. A valuation allowance is recorded to reduce the carrying value of our net deferred tax assets when it is more likely than not not not
Segment Reporting, Policy [Policy Text Block]	Segments The Company's chief operating decision maker allocates resources and assesses financial performance on a consolidated basis. As such, for purposes of financial reporting under GAAP during the years ended December 31, 2022 2021
Smaller Reporting Company [Policy Text Block]	Smaller Reporting Company Under Rule 12b 2 1934, second $250 may not

Note 3 - Prepaid Expenses and_2

Note 3 - Prepaid Expenses and Other Current Assets (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Prepaid Expense and Other Current Assets [Table Text Block]	December 31, December 31, 2022 2021 Prepaid subscriptions $ 423 $ 85 Prepaid insurance 619 376 Prepaid marketing and sponsorships — 60 Other 107 314 Total prepaid expenses and other current assets $ 1,149 $ 835

Note 5 - Property, Plant and _2

Note 5 - Property, Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Property, Plant and Equipment [Table Text Block]	December 31, December 31, 2022 2021 Fixed Assets Computers $ 780 $ 633 Furniture, fixtures, and equipment 610 464 Leasehold improvements 101 101 Total fixed assets 1,491 1,198 Less: accumulated depreciation (1,006 ) (844 ) Total fixed assets, net 485 354 Terminal and Pipeline Assets (not placed in service) Terminal 197,144 152,445 Pipeline 21,017 21,017 Total Terminal and Pipeline assets 218,161 173,462 Total property, plant and equipment, net $ 218,646 $ 173,816

Note 6 - Leases (Tables)

Note 6 - Leases (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Lessee, Operating Lease Right-of-use Assets and Liabilities [Table Text Block]	December 31, December 31, 2022 2021 Office leases $ 1,474 $ 590 Total operating lease right-of-use assets, net $ 1,474 $ 590 December 31, December 31, 2022 2021 Office leases $ 1,093 $ 596 Total current lease liabilities 1,093 596 Non-current office leases 465 — Total lease liabilities $ 1,558 $ 596
Lease, Cost [Table Text Block]	December 31, December 31, 2022 2021 Office leases $ 887 $ 627 Total operating lease expense 887 627 Short-term lease expense 232 278 Total lease expense $ 1,119 $ 905 December 31, December 31, 2022 2021 Cash paid for amounts included in the measurement of operating lease liabilities: Cash flows from operating activities $ 678 $ 624 Noncash right-of-use assets recorded for operating lease liabilities: In exchange for new operating lease liabilities during the period 1,640 712
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	2023 $ 1,300 2024 273 2025 250 2026 — 2027 — Thereafter — Total undiscounted lease payments 1,823 Discount to present value (265 ) Present value of lease liabilities $ 1,558

Note 7 - Other Non-current As_2

Note 7 - Other Non-current Assets (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Other Assets, Noncurrent [Table Text Block]	December 31, December 31, 2022 2021 Permitting costs (1) $ 8,575 $ 7,609 Enterprise resource planning system, net — 354 Rio Grande Site Lease initial direct costs 19,612 13,314 Deposits and other 185 35 Total other non-current assets, net $ 28,372 $ 21,312

Note 8 - Accrued Liabilities _2

Note 8 - Accrued Liabilities and Other Current Liabilities (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Accrued Expenses and Other Current Liabilities [Table Text Block]	December 31, December 31, 2022 2021 Employee compensation expense $ 6,650 $ 4,358 Terminal asset costs 12,046 926 Permitting costs 279 — Accrued legal services 3,124 70 Share-based compensation liability 182 182 Other accrued liabilities 903 437 Total accrued liabilities and other current liabilities $ 23,184 $ 5,973

Note 9 - Preferred Stock and _2

Note 9 - Preferred Stock and Common Stock Warrants (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Allocation of Net Cash Proceeds [Table Text Block]	Allocation of Proceeds 2022 Series C 2022 Series C Preferred Warrants Stock Gross proceeds $ 10,500 Equity issuance costs (20 ) Net proceeds - Initial Fair Value Allocation $ 10,480 $ 644 $ 9,836 Per balance sheet upon issuance $ 644 $ 9,836 Allocation of Proceeds 2021 Series C 2021 Series C Preferred Warrants Stock Gross proceeds $ 39,500 Equity issuance costs (62 ) Net proceeds - Initial Fair Value Allocation $ 39,438 $ 1,631 $ 37,807 Per balance sheet upon issuance $ 1,631 $ 37,807
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]	December 31, December 31, 2022 2021 Stock price $ 4.94 $ 2.85 Exercise price $ 0.01 $ 0.01 Risk-free rate 4.6 % 0.1 % Volatility 52.5 % 62.6 % Term (years) 1.5 1.6

Note 11 - Net Loss Per Share _2

Note 11 - Net Loss Per Share Attributable to Common Stockholders (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Year Ended December 31, 2022 2021 Weighted average common shares outstanding: Basic 130,136 119,201 Dilutive unvested stock, convertible preferred stock, Common Stock Warrants and IPO Warrants — — Diluted 130,136 119,201 Basic and diluted net loss per share attributable to common stockholders $ (0.65 ) $ (0.34 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Year Ended December 31, 2022 2021 Unvested stock (1) 1,904 1,662 Convertible preferred stock 46,533 30,754 Common Stock Warrants 1,382 2,207 IPO Warrants (2) — 12,082 Total potentially dilutive common shares 49,819 46,705

Note 12 - Share-based Compens_2

Note 12 - Share-based Compensation (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award [Table Text Block]	Year Ended December 31, 2022 2021 Share-based compensation expense (forfeiture): Equity awards $ 7,472 $ (4,541 ) Liability awards — — Total share-based compensation (forfeiture) 7,472 (4,541 ) Capitalized share-based compensation — 228 Total share-based compensation expense (forfeiture) $ 7,472 $ (4,313 )
Nonvested Restricted Stock Shares Activity [Table Text Block]	Shares Weighted Average Grant Date Fair Value Per Share Non-vested at January 1, 2022 3,038 $ 5.88 Granted 217 2.21 Vested (1,507 ) 4.29 Forfeited (665 ) 5.81 Non-vested at December 31, 2022 1,083 $ 7.51
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]	Shares Weighted Average Grant Date Fair Value Per Share Non-vested at January 1, 2022 7,104 3.31 Granted 6,106 6.52 Vested (1,261 ) 6.17 Forfeited (1,645 ) 3.61 Non-vested at December 31, 2022 10,304 $ 4.82

Note 13 - Income Taxes (Tables)

Note 13 - Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Year Ended December 31, 2022 2021 U.S. federal statutory rate, beginning of year 21 % 21 % Common stock warrant liabilities (2 ) — Officers' compensation (1 ) — Other (1 ) (4 ) Valuation allowance (17 ) (17 ) Effective tax rate as reported — % — %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	Year Ended December 31, 2022 2021 Deferred tax assets Net operating loss carryforwards and credits $ 36,835 $ 25,742 Employee compensation 1,113 570 Share-based compensation expense 1,066 2,053 Development costs 964 — Property, plant and equipment 749 753 Operating lease liabilities 187 125 Other 36 55 Less: valuation allowance (36,642 ) (26,378 ) Total deferred tax assets 4,308 2,920 Deferred tax liabilities Operating lease right-of-use assets (4,308 ) (2,920 ) Total deferred tax liabilities (4,308 ) (2,920 ) Net deferred tax assets (liabilities) $ — $ —

Note 1 - Background and Basis_2

Note 1 - Background and Basis of Presentation (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Ending Balance	$ 62,789	$ 25,552	$ 22,608

Note 3 - Prepaid Expenses and_3

Note 3 - Prepaid Expenses and Other Current Assets - Summary of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Prepaid subscriptions	$ 423	$ 85
Prepaid insurance	619	376
Prepaid marketing and sponsorships	0	60
Other	107	314
Total prepaid expenses and other current assets	$ 1,149	$ 835

Note 4 - Sale of Equity Inter_2

Note 4 - Sale of Equity Interests in Rio Bravo Pipeline, LLC (Details Textual) - Rio Bravo [Member] - USD ($) $ in Millions	Mar. 02, 2020	Feb. 13, 2020	Dec. 31, 2022
Equity Method Investment, Ownership Percentage		100%
Disposal Group, Including Discontinued Operation, Consideration	$ 19.4
Proceeds from Divestiture of Businesses	$ 15
Equity Method Investments, Rights to The Natural Gas Firm Transportation Capacity Term (Year)		20 years
Sale of Business, Failure to Issue Notice, Maximum Right Price to Sell Back Equity Interests			$ 23

Note 5 - Property, Plant and _3

Note 5 - Property, Plant and Equipment (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Depreciation, Total	$ 162	$ 184

Note 5 - Property, Plant and _4

Note 5 - Property, Plant and Equipment - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Property, plant and equipment, net	$ 218,646	$ 173,816
Computer Equipment [Member]
Property, plant and equipment, gross	780	633
Furniture and Fixtures [Member]
Property, plant and equipment, gross	610	464
Leasehold Improvements [Member]
Property, plant and equipment, gross	101	101
Excluding Construction in Progress [Member]
Property, plant and equipment, gross	1,491	1,198
Less: accumulated depreciation	(1,006)	(844)
Property, plant and equipment, net	485	354
Construction in Progress [Member]
Property, plant and equipment, gross	218,161	173,462
Construction in Progress [Member] | Rio Grande [Member]
Property, plant and equipment, gross	197,144	152,445
Construction in Progress [Member] | Rio Bravo [Member]
Property, plant and equipment, gross	$ 21,017	$ 21,017

Note 6 - Leases (Details Textua

Note 6 - Leases (Details Textual)	Mar. 06, 2019 a	Dec. 31, 2022 ft²
BND [Member]
Area Available for Lease (Acre) | a	984
Lessee, Operating Lease, Term of Contract (Year)	30 years
Lessee, Operating Lease, Number of Consecutive Renewal Term	2
Lessee, Operating Lease, Renewal Term (Year)	10 years
Houston, Texas [Member]
Area of Real Estate Property (Square Foot)		33,800
SINGAPORE
Area of Real Estate Property (Square Foot)		2,500

Note 6 - Leases - Supplemental

Note 6 - Leases - Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Operating lease right-of-use assets, net	$ 1,474	$ 590
Current lease liabilities	1,093	596
Non-current leases	465	0
Lease liabilities	1,558	596
Office Leases [Member]
Operating lease right-of-use assets, net	1,474	590
Current lease liabilities	1,093	596
Non-current leases	$ 465	$ 0

Note 6 - Leases - Lease Expense

Note 6 - Leases - Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Operating lease expense	$ 887	$ 627
Short-term lease expense	232	278
Total lease expense	1,119	905
Cash flows from operating activities	678	624
In exchange for new operating lease liabilities during the period	1,640	712
Office Leases [Member]
Operating lease expense	$ 887	$ 627

Note 6 - Leases - Maturity of O

Note 6 - Leases - Maturity of Operating Lease (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
2023	$ 1,300
2024	273
2025	250
2026	0
2027	0
Thereafter	0
Total undiscounted lease payments	1,823
Discount to present value	(265)
Present value of lease liabilities	$ 1,558	$ 596

Note 7 - Other Non-current As_3

Note 7 - Other Non-current Assets - Schedule of Other Non-current Assets (Details) - USD ($) $ in Thousands		Dec. 31, 2022	Dec. 31, 2021
Permitting costs	[1]	$ 8,575	$ 7,609
Enterprise resource planning system, net		0	354
Rio Grande Site Lease initial direct costs		19,612	13,314
Deposits and other		185	35
Total other non-current assets, net		$ 28,372	$ 21,312
[1]Permitting costs primarily represent costs incurred in connection with permit applications to the United States Army Corps of Engineers and the U.S. Fish and Wildlife Service for mitigation measures for potential impacts to wetlands and habitat that may be caused by the construction of the Terminal and the Pipeline.

Note 8 - Accrued Liabilities _3

Note 8 - Accrued Liabilities and Other Current Liabilities - Summary of Accrued Liabilities and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Employee compensation expense	$ 6,650	$ 4,358
Terminal asset costs	12,046	926
Permitting costs, Current	279	0
Accrued legal services	3,124	70
Share-based compensation liability	182	182
Other accrued liabilities	903	437
Total accrued liabilities and other current liabilities	$ 23,184	$ 5,973

Note 9 - Preferred Stock and _3

Note 9 - Preferred Stock and Common Stock Warrants (Details Textual) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended				12 Months Ended
	Jan. 17, 2023	Mar. 31, 2022	Jul. 31, 2021	Apr. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Gain (Loss) on Revaluation of Warrants						$ (5,747)	$ (2,533)
Series A Convertible Preferred Stock [Member]
Temporary Equity, Shares Outstanding (in shares)						82,948	73,713	65,507
Temporary Equity, Par or Stated Value Per Share (in dollars per share)						$ 0.0001		$ 0.0001
Preferred Stock, Convertible, Conversion Price (in dollars per share)						$ 5.48
Series B Convertible Preferred Stock [Member]
Temporary Equity, Shares Outstanding (in shares)						79,239	70,433	62,612
Temporary Equity, Par or Stated Value Per Share (in dollars per share)						$ 0.0001		$ 0.0001
Preferred Stock, Convertible, Conversion Price (in dollars per share)						$ 5.53
Series C Convertible Preferred Stock [Member]
Temporary Equity, Shares Outstanding (in shares)						59,366	42,490
Temporary Equity, Par or Stated Value Per Share (in dollars per share)					$ 0.0001	$ 0.0001
Temporary Equity, Stock Issued During Period, Shares, New Issues (in shares)		10,500,000	5,000	10,000	24,500
Temporary Equity, Issued Price Per Share (in dollars per share)		$ 1,000	$ 1,000	$ 1,000	$ 1,000
Temporary Equity, Stock Issued During Period, Value, New Issues		$ 10,500	$ 5,000	$ 10,000	$ 24,500
Temporary Equity, Stock Issued During Period, Shares Issued for Services (in shares)		210,000	100	200	490
Preferred Stock, Convertible, Conversion Price (in dollars per share)						2.98
Convertible Preferred Stock [Member]
Temporary Equity, Issued Price Per Share (in dollars per share)						$ 1,000
Temporary Stock, Threshold Trading Days for Conversion (Day)						60 days
Temporary Stock, Threshold Consecutive Trading Days for Conversion (Day)						90 days
Temporary Stock, Conversion Price Minimum Percentage						175%
Temporary Stock, Maximum Business Days Following FID Event for Conversion (Day)						10 days
Temporary Equity, Dividend Rate Percentage						12%
Dividends, Preferred Stock, Paid-in-kind						$ 24,300	$ 18,300
Convertible Preferred Stock [Member] | Subsequent Event [Member]
Dividends, Preferred Stock, Paid-in-kind	$ 6,700
Common Stock Warrants [Member]
Temporary Stock, Threshold Trading Days for Conversion (Day)						60 years
Temporary Stock, Threshold Consecutive Trading Days for Conversion (Day)						90 years
Exercise of Warrants, Percent of Fully Diluted Common Stock Acquirable						0.71%	0.86%
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)						$ 0.01
Warrants and Rights Outstanding, Term (Year)						3 years

Note 9 - Preferred Stock and _4

Note 9 - Preferred Stock and Common Stock Warrants - Allocation of Net Cash Proceeds (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Gross proceeds	$ 10,500	$ 39,500
Equity issuance costs	(20)	(62)
Net proceeds - Initial Fair Value Allocation	10,480	39,438
Series C Convertible Preferred Stock [Member]
Net proceeds - Initial Fair Value Allocation	9,836	37,807
Per balance sheet upon issuance	9,836	37,807
Series C Warrants [Member]
Net proceeds - Initial Fair Value Allocation	644	1,631
Per balance sheet upon issuance	$ 644	$ 1,631

Note 9 - Preferred Stock and _5

Note 9 - Preferred Stock and Common Stock Warrants - Fair Value Assumptions (Details)	Dec. 31, 2022	Dec. 31, 2021
Measurement Input, Share Price [Member]
Warrant measurement input	4.94	2.85
Measurement Input, Exercise Price [Member]
Warrant measurement input	0.01	0.01
Measurement Input, Risk Free Interest Rate [Member]
Warrant measurement input	0.046	0.001
Measurement Input, Price Volatility [Member]
Warrant measurement input	0.525	0.626
Measurement Input, Expected Term [Member]
Warrant measurement input	1.5	1.6

Note 10 - Shareholders' Equity

Note 10 - Shareholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands			12 Months Ended
	Sep. 14, 2022	Apr. 06, 2022	Dec. 31, 2022	Dec. 31, 2021
Proceeds from Issuance of Common Stock			$ 115,000	$ 557
Stock Issued During Period, Exercise Of Warrants, Shares (in shares)			500,000
HGC NEXT INV LLC [Member]
Stock Issued During Period, Shares, New Issues (in shares)		4,618,226
Share Price (in dollars per share)		$ 6.496
Proceeds from Issuance of Common Stock		$ 30,000
The “Purchasers” [Member]
Stock Issued During Period, Shares, New Issues (in shares)	15,454,160
Share Price (in dollars per share)	$ 5.50
Proceeds from Issuance of Common Stock	$ 85,000

Note 11 - Net Loss Per Share _3

Note 11 - Net Loss Per Share Attributable to Common Stockholders (Details Textual) - shares shares in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Securities Excluded from Computation of Earnings Per Share Amount, Performance Conditions (in shares)	9.4	8.3

Note 11 - Net Loss Per Share _4

Note 11 - Net Loss Per Share Attributable to Common Stockholders - Basic and Diluted Common Shares (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Weighted average shares outstanding - basic and diluted (in shares)	130,136	119,201
Dilutive unvested stock, convertible preferred stock, Common Stock Warrants and IPO Warrants (in shares)	0	0
Diluted (in shares)	130,136	119,201
Net loss per common share - basic and diluted (in dollars per share)	$ (0.65)	$ (0.34)

Note 11 - Net Loss Per Share _5

Note 11 - Net Loss Per Share Attributable to Common Stockholders - Anti-dilutive Securities (Details) - shares shares in Thousands		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021
Potentially dilutive common shares (in shares)		49,819	46,705
Unvested Stock [Member]
Potentially dilutive common shares (in shares)	[1]	1,904	1,662
Convertible Preferred Stocks [Member]
Potentially dilutive common shares (in shares)		46,533	30,754
Common Stock Warrants [Member]
Potentially dilutive common shares (in shares)		1,382	2,207
IPO Warrants [Member]
Potentially dilutive common shares (in shares)	[2]	0	12,082
[1]Does not include 9.4 million shares and 8.3 million shares of unvested restricted stock and restricted stock units for the years ended December 31, 2022 and 2021 because the performance conditions had not yet been satisfied as of December 31, 2022 and 2021, respectively.[2]The IPO Warrants were issued in connection with our initial public offering in 2015 and expired July 24, 2022.

Note 12 - Share-based Compens_3

Note 12 - Share-based Compensation (Details Textual) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)
Percentage of FID Bonus Settlement of Shares	110%
Deferred Compensation Share-based Arrangements, Liability, Current and Noncurrent	$ 0.2
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 48.1
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)	1 year 6 months
Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage of Target Award	0%
Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage of Target Award	100%
Performance Stock Units [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)	3 years
Share-Based Payment Arrangement, Tranche Three [Member] | Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)	3 years
Share-Based Payment Arrangement, Tranche One [Member] | Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)	1 year
Share-Based Payment Arrangement, Tranche Two [Member] | Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)	2 years

Note 12 - Share-based Compens_4

Note 12 - Share-based Compensation - Summary of Share-based Compensation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Equity awards	$ (7,472)	$ 4,541
Liability awards	0	0
Total share-based compensation (forfeiture)	7,472	(4,541)
Capitalized share-based compensation	0	228
Total share-based compensation expense (forfeiture)	$ 7,472	$ (4,313)

Note 12 - Share-based Compens_5

Note 12 - Share-based Compensation - Summary of Restricted Stock Awards Outstanding (Details) shares in Thousands	12 Months Ended
	Dec. 31, 2022 $ / shares shares
Non-vested, Shares (in shares) | shares	7,104
Non-vested, Weighted Average Grant Date Fair Value Per Share (in dollars per share) | $ / shares	$ 3.31
Vested, Shares (in shares) | shares	(1,261)
Vested, Weighted Average Grant Date Fair Value Per Share (in dollars per share) | $ / shares	$ 6.17
Restricted Stock [Member]
Non-vested, Shares (in shares) | shares	3,038
Non-vested, Weighted Average Grant Date Fair Value Per Share (in dollars per share) | $ / shares	$ 5.88
Granted, Shares (in shares) | shares	217
Granted, Weighted Average Grant Date Fair Value Per Share (in dollars per share) | $ / shares	$ 2.21
Vested, Shares (in shares) | shares	(1,507)
Vested, Weighted Average Grant Date Fair Value Per Share (in dollars per share) | $ / shares	$ 4.29
Forfeited, Shares (in shares) | shares	(665)
Forfeited, Weighted Average Grant Date Fair Value Per Share (in dollars per share) | $ / shares	$ 5.81
Non-vested, Shares (in shares) | shares	1,083
Non-vested, Weighted Average Grant Date Fair Value Per Share (in dollars per share) | $ / shares	$ 7.51

Note 12 - Share-based Compens_6

Note 12 - Share-based Compensation - Summary of Restricted Stock Units Outstanding (Details) shares in Thousands	12 Months Ended
	Dec. 31, 2022 $ / shares shares
Non-vested, Shares (in shares) | shares	7,104
Non-vested, Weighted Average Grant Date Fair Value Per Share (in dollars per share) | $ / shares	$ 3.31
Vested, Shares (in shares) | shares	(1,261)
Vested, Weighted Average Grant Date Fair Value Per Share (in dollars per share) | $ / shares	$ 6.17
Restricted Stock Units (RSUs) [Member]
Granted, Shares (in shares) | shares	6,106
Granted, Weighted Average Grant Date Fair Value Per Share (in dollars per share) | $ / shares	$ 6.52
Forfeited, Shares (in shares) | shares	(1,645)
Forfeited, Weighted Average Grant Date Fair Value Per Share (in dollars per share) | $ / shares	$ 3.61
Non-vested, Shares (in shares) | shares	10,304
Non-vested, Weighted Average Grant Date Fair Value Per Share (in dollars per share) | $ / shares	$ 4.82

Note 13 - Income Taxes (Details

Note 13 - Income Taxes (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Operating Loss Carryforwards	$ 175,400
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration	26,100
Income Tax Expense (Benefit), Total	$ 0	$ 0
Open Tax Year	2019 2020 2021 2022

Note 13 - Income Taxes - Effect

Note 13 - Income Taxes - Effective Income Tax rate (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
U.S. federal statutory rate, beginning of year	21%	21%
Common stock warrant liabilities	(2.00%)	0%
Officers' compensation	(1.00%)	0%
Other	(1.00%)	(4.00%)
Valuation allowance	(17.00%)	(17.00%)
Effective tax rate as reported	0%	0%

Note 13 - Income Taxes - Deferr

Note 13 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets
Net operating loss carryforwards and credits	$ 36,835	$ 25,742
Employee compensation	1,113	570
Share-based compensation expense	1,066	2,053
Development costs	964	0
Property, plant and equipment	749	753
Operating lease liabilities	187	125
Other	36	55
Less: valuation allowance	(36,642)	(26,378)
Total deferred tax assets	4,308	2,920
Deferred tax liabilities
Operating lease right-of-use assets	(4,308)	(2,920)
Total deferred tax liabilities	(4,308)	(2,920)
Net deferred tax assets (liabilities)	$ 0	$ 0

Note 14 - Commitments and Con_2

Note 14 - Commitments and Contingencies (Details Textual) - BND [Member] $ in Millions	Mar. 06, 2019 USD ($) a
Area Available for Lease (Acre) | a	984
Lessee, Operating Lease, Liability, to be Paid Per Quarter | $	$ 1.6

Note 16 - Subsequent Events (De

Note 16 - Subsequent Events (Details Textual) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Feb. 03, 2023	Dec. 31, 2022	Dec. 31, 2021
Proceeds from Issuance of Common Stock		$ 115,000	$ 557
Private Placement [Member] | Subsequent Event [Member]
Stock Issued During Period, Shares, New Issues (in shares)	5,835,277
Shares Issued, Price Per Share (in dollars per share)	$ 5.998
Proceeds from Issuance of Common Stock	$ 35,000