v3.23.2
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Income Statement [Abstract]        
Revenues $ 11,615,280 [1] $ 12,753,671 [1] $ 11,980,653 $ 12,822,963
Cost of Revenue [Abstract]        
Flight operations 6,299,122 5,849,562 10,032,383 9,514,914
Maintenance 4,210,976 3,571,986 7,726,427 6,433,973
Total cost of revenues 10,510,098 9,421,548 17,758,810 15,948,887
Gross income (loss) 1,105,182 3,332,123 (5,778,157) (3,125,924)
Selling, general and administrative expense 15,187,808 5,735,627 48,416,299 10,576,886
Operating loss (14,082,626) (2,403,504) (54,194,456) (13,702,810)
Interest expense (5,540,867) [2] (2,293,682) [2] (11,205,412) (6,008,228)
Other income 601,891 134,311 1,693,328 275,154
Net loss (19,021,602) (4,562,875) (63,706,540) (19,435,884)
Series A Preferred Stock – adjustment for deemed dividend upon Closing 0 0 (48,300,000) 0
Series A Preferred Stock – adjustment to eliminate 50% multiplier 0 0 156,362,598 0
Series A Preferred Stock – adjustment to maximum redemption value (5,805,582) 0 (10,080,022) 0
Legacy Bridger Series A Preferred Shares – adjustment for redemption, extinguishment, accrued interest, and change in fair value 0 (81,323,569) 0 (85,663,336)
Legacy Bridger Series C Preferred Shares - adjustment to maximum redemption value 0 (191,240,782) 0 (191,240,782)
Net (loss) income attributable to Common stockholders – basic (24,827,184) (277,127,226) 34,276,036 (296,340,002)
Net (loss) income attributable to Common stockholders – diluted $ (24,827,184) $ (277,127,226) $ 34,276,036 $ (296,340,002)
Net (loss) income per common stock – basic (in dollars per share) $ (0.55) $ (7.15) $ 0.77 $ (7.64)
Net (loss) income per common stock – diluted (in dollars per share) $ (0.55) $ (7.15) $ 0.44 $ (7.64)
Weighted average Common Stock outstanding – basic (in shares) 45,388,892 38,770,646 44,443,930 38,770,646
Weighted average Common Stock outstanding – diluted (in shares) 45,388,892 38,770,646 77,199,129 38,770,646
[1] Includes related party revenues of $112,210 and $433,454 for the three and six months ended June 30, 2023, respectively.
[2] Includes related party interest for the 2022 taxable industrial revenue bond of approximately $279,000 and $563,000 for the three and six months ended June 30, 2023, respectively.

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