0001603978-21-000015 | 10-K | XBRL Viewer | Aquabounty Technologies INC

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Dec. 31, 2020	Mar. 05, 2021	Jun. 30, 2020
Document and Entity Information [Abstract]
Document Type	10-K
Document Annual Report	true
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Period End Date	Dec. 31, 2020
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 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	true
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 39.9
Entity Common Stock, Shares Outstanding		70,939,065
Documents Incorporated by Reference	Portions of the registrant’s Proxy Statement for its Annual Meeting of Shareholders to be held on April 27, 2021 (the “2021 Proxy Statement”), are incorporated by reference into Part III of this Annual Report on Form 10‑K.
Amendment Flag	false
Entity Central Index Key	0001603978

Consolidated Balance Sheets - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 95,751,160	$ 2,798,744
Other receivables	46,678	55,198
Inventory	1,525,377	1,232,049
Prepaid expenses and other current assets	358,692	391,162
Total current assets	97,681,907	4,477,153
Property, plant and equipment, net	26,930,338	25,065,836
Right of use assets, net	341,997	399,477
Definite lived intangible assets, net	143,885	157,588
Indefinite lived intangible assets	101,661	101,661
Restricted cash	500,000
Other assets	76,715	32,024
Total assets	125,776,503	30,233,739
Current liabilities:
Accounts payable and accrued liabilities	1,760,103	1,462,809
Other current liabilities	62,483	62,286
Current debt	259,939	163,155
Total current liabilities	2,082,525	1,688,250
Long-term lease obligations	290,327	352,808
Long-term debt	8,528,490	4,432,052
Total liabilities	10,901,342	6,473,110
Stockholders’ equity:
Common stock, $0.001 par value, 80,000,000 shares authorized; 55,497,133 (2019: 21,635,365) shares outstanding	55,497	21,635
Additional paid-in capital	263,629,116	156,241,363
Accumulated other comprehensive loss	(267,258)	(360,160)
Accumulated deficit	(148,542,194)	(132,142,209)
Total stockholders’ equity	114,875,161	23,760,629
Total liabilities and stockholders’ equity	$ 125,776,503	$ 30,233,739

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Consolidated Balance Sheets [Abstract]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	80,000,000	80,000,000
Common stock, shares outstanding (in shares)	55,497,133	21,635,365

Consolidated Statements of Operations and Comprehensive Loss - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues
Product revenues	$ 127,663	$ 186,738	$ 84,518
Costs and expenses
Production costs	6,680,012	3,573,858	2,626,353
Sales and marketing	533,428	709,023	297,687
Research and development	2,364,610	2,359,441	3,458,564
General and administrative	6,797,443	6,723,060	4,067,710
Total costs and expenses	16,375,493	13,365,382	10,450,314
Operating loss	(16,247,830)	(13,178,644)	(10,365,796)
Other income (expense)
Interest expense	(152,367)	(62,988)	(22,257)
Other income (expense), net	212	13,990	5,994
Total other income (expense)	(152,155)	(48,998)	(16,263)
Net loss	(16,399,985)	(13,227,642)	(10,382,059)
Other comprehensive income (loss):
Foreign currency translation gain (loss)	92,902	214,026	(360,302)
Total other comprehensive income (loss)	92,902	214,026	(360,302)
Comprehensive loss	(16,307,083)	(13,013,616)	(10,742,361)
Earnings per share
Net loss	(16,399,985)	(13,227,642)	(10,382,059)
Deemed dividend			(1,822,873)
Net loss attributable to common shareholders	$ (16,399,985)	$ (13,227,642)	$ (12,204,932)
Basic and diluted net loss per share attributable to common shareholders	$ (0.45)	$ (0.66)	$ (0.94)
Weighted average number of common shares - basic and diluted	36,347,398	20,078,017	13,028,760

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, 2017	8,895,094
Beginning balance at Dec. 31, 2017	$ 8,895	$ 126,718,186	$ (213,884)	$ (108,532,508)	$ 17,980,689
Net loss				(10,382,059)	(10,382,059)
Other comprehensive income (loss)			(360,302)		(360,302)
Issuance of common stock, net of expenses (in shares)	3,692,307
Issuance of common stock, net of expenses	$ 3,692	10,612,354			10,616,046
Exercise of warrants for common stock (in shares)	2,500,285
Exercise of warrants for common stock	$ 2,501	5,114,032			5,116,533
Share based compensation (in shares)	11,151
Share based compensation	$ 11	263,385			263,396
Ending balance (in shares) at Dec. 31, 2018	15,098,837
Ending balance at Dec. 31, 2018	$ 15,099	142,707,957	(574,186)	(118,914,567)	23,234,303
Net loss				(13,227,642)	(13,227,642)
Other comprehensive income (loss)			214,026		214,026
Issuance of common stock, net of expenses (in shares)	6,246,360
Issuance of common stock, net of expenses	$ 6,246	12,389,102			12,395,348
Exercise of warrants for common stock (in shares)	83,564
Exercise of warrants for common stock	$ 84	272,333			272,417
Share based compensation (in shares)	206,604
Share based compensation	$ 206	871,971			872,177
Ending balance (in shares) at Dec. 31, 2019	21,635,365
Ending balance at Dec. 31, 2019	$ 21,635	156,241,363	(360,160)	(132,142,209)	23,760,629
Net loss				(16,399,985)	(16,399,985)
Other comprehensive income (loss)			92,902		92,902
Issuance of common stock for services (in shares)	20,000
Issuance of common stock for services	$ 20	40,580			40,600
Issuance of common stock, net of expenses (in shares)	33,028,000
Issuance of common stock, net of expenses	$ 33,028	104,592,587			104,625,615
Exercise of warrants for common stock (in shares)	713,449
Exercise of warrants for common stock	$ 713	2,317,996			2,318,709
Share based compensation (in shares)	100,319
Share based compensation	$ 101	436,590			436,691
Ending balance (in shares) at Dec. 31, 2020	55,497,133
Ending balance at Dec. 31, 2020	$ 55,497	$ 263,629,116	$ (267,258)	$ (148,542,194)	$ 114,875,161

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating activities
Net loss	$ (16,399,985)	$ (13,227,642)	$ (10,382,059)
Adjustment to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	1,494,596	1,285,902	843,387
Share-based compensation	436,691	872,177	263,396
Gain on sale of equipment	(1,816)	(12,133)	(13,233)
Loss on asset held for sale		149,800
Impairment loss		103,116
Other non-cash charges	46,155		(1,364)
Changes in operating assets and liabilities:
Other receivables	9,229	65,002	56,212
Inventory	(282,260)	(1,154,222)	93,956
Prepaid expenses and other assets	(83,850)	59,942	289,868
Accounts payable and accrued liabilities	492,419	609,311	(966,928)
Net cash used in operating activities	(14,288,821)	(11,248,747)	(9,816,765)
Investing activities
Purchase of property, plant and equipment	(3,975,135)	(2,316,809)	(4,009,736)
Deposits on equipment purchases	(349,847)	(160,675)	(95,001)
Proceeds from sale of equipment	99,816	15,848	23,233
Proceeds from legal settlement, net	1,014,008
Other investing activities	(27,253)
Net cash used in investing activities	(3,238,411)	(2,461,636)	(4,081,504)
Financing activities
Proceeds from issuance of debt	4,221,130	900,767	771,858
Payment of debt issuance costs	(91,620)
Repayment of term debt	(70,826)	(85,802)	(55,615)
Proceeds from the issuance of common stock, net	104,625,615	12,395,348	10,616,046
Proceeds from the exercise of stock options and warrants, net	2,318,709	272,417	5,116,533
Net cash provided by financing activities	111,003,008	13,482,730	16,448,822
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(23,360)	23,840	(54,279)
Net change in cash, cash equivalents and restricted cash	93,452,416	(203,813)	2,496,274
Cash, cash equivalents and restricted cash at beginning of period	2,798,744	3,002,557	506,283
Cash, cash equivalents and restricted cash at end of period	96,251,160	2,798,744	3,002,557
Supplemental disclosure of cash flow information and non-cash transactions:
Interest paid in cash	114,893	62,988	22,257
Property and equipment included in accounts payable and accrued liabilities	$ 23,600	$ 210,270	193,378
Acquisition of equipment under debt arrangement			$ 74,068

Nature of Business and Organization	12 Months Ended
Nature of Business and Organization	Dec. 31, 2020
Nature of Business and Organization [Abstract]
Nature of Business and Organization	1. Nature of business and organization Nature of business AquaBounty Technologies, Inc. (the “Parent” and, together with its subsidiaries, the “Company”) was incorporated in December 1991 in the State of Delaware for the purpose of conducting research and development of the commercial viability of a group of proteins commonly known as antifreeze proteins. In 1996, the Parent obtained the exclusive licensing rights for a gene construct (transgene) used to create a breed of farm‑raised Atlantic salmon that exhibit growth rates that are substantially faster than conventional salmon. In 2015, the Parent obtained regulatory approval from the U.S. Food and Drug Administration for the production and sale of its AquAdvantage salmon product in the United States and in 2016, the Parent obtained regulatory approval from Health Canada for the production and sale of its AquAdvantage salmon product in Canada. AQUA Bounty Canada Inc. (the “Canadian Subsidiary”) was incorporated in January 1994 for the purpose of establishing a commercial biotechnology laboratory to conduct research and development programs related to the Parent’s technologies and to commercialize the Parent’s products in Canada. AquaBounty Panama, S. de R.L. (the “Panama Subsidiary”) was incorporated in May 2008 in Panama for the purpose of conducting commercial trials of the Parent’s products. Operations at the site concluded in May 2019. AquaBounty Farms, Inc. (the “U.S. Subsidiary”) was incorporated in December 2014 in the State of Delaware for the purpose of conducting field trials and commercializing the Parent’s products in the United States. AquaBounty Farms Indiana LLC (the “Indiana Subsidiary”), which is wholly owned by the U.S. Subsidiary, was formed in June 2017 in the State of Delaware for the purpose of operating its aquaculture facility in Albany, Indiana. AquaBounty Brasil Participações Ltda. (the “Brazil Subsidiary”) was incorporated in May 2015 for the purpose of conducting field trials and commercializing the Parent’s products in Brazil. Basis of presentation The consolidated financial statements include the accounts of AquaBounty Technologies, Inc. and its wholly owned direct subsidiaries, AQUA Bounty Canada Inc.; AquaBounty Panama, S. de R.L.; AquaBounty Farms, Inc.; AquaBounty Farms Indiana LLC; and AquaBounty Brasil Participacoes Ltda. The entities are collectively referred to herein as the “Company.” All inter-company transactions and balances have been eliminated upon consolidation. Liquidity The Company completed multiple equity raises in 2020 and has $95.8 million in cash and cash equivalents as of December 31, 2020. Subsequent to year end, in February 2021, the Company raised an additional $119.2 million. While the Company has experienced net losses and negative cash flows from operations since inception, management believes that it has sufficient cash to meet the Company's requirements for at least the next twelve months from the filing date. However, until such time as the Company reaches profitability, it may require additional financing to fund its operations and execute its business plan.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2020

Summary of Significant Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2. Summary of significant accounting policies

Use of estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of expenses during the reporting periods. Actual results could differ from those estimates.

Comprehensive loss

The Company displays comprehensive loss and its components as part of its consolidated financial statements. Comprehensive loss consists of net loss and other comprehensive income (loss). Other comprehensive income (loss) includes foreign currency translation adjustments.

Foreign currency translation

The functional currency of the Parent is the US Dollar. The functional currency of the Canadian Subsidiary is the Canadian Dollar (C$) and the functional currency of the US and Brazil Subsidiaries is the US Dollar. For the Canadian Subsidiary, assets and liabilities are translated at the exchange rates in effect at the balance sheet date, equity accounts are translated at the historical exchange rate and the income statement accounts are translated at the average rate for each period during the year. Net translation gains or losses are adjusted directly to a separate component of other comprehensive income (loss) within stockholders’ equity.

Cash equivalents

The Company considers all highly liquid investments with maturities of three months or less when purchased to be cash equivalents. Cash equivalents consist primarily of business savings accounts, certificates of deposit and money market accounts. Included in cash equivalents at December 31, 2020 is $80 million in a Dreyfus Government Cash Management money market account.

Inventories

Inventories are mainly comprised of feed, eggs, fish in process and packaging materials. 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). Our NRV calculation contains various estimates and assumptions in regard to the calculation of the biomass, including expected yield, the market value of the biomass and estimated costs of completion and transportation. As of December 31, 2020, the NRV of our conventional salmon biomass was valued at $0 as a result of our intent to harvest and donate this fish. The NRV of our AquAdvantage salmon biomass was valued at $1.2 million.

The Company also considers capacity utilization in calculating its inventory value with any excess capacity charged to production costs as idle capacity. Inventory reserves are recorded as needed to represent the difference between the carrying value and the NRV calculation, taking into consideration the expected timing and disposition of the inventory.

Asset held for sale

Equipment classified as held for sale is measured at the lower of fair value, less selling costs, or its carrying value. Gains or losses are recognized for any subsequent changes to fair value, less selling costs. Equipment held for sale is not depreciated.

In December 2019, the Company reclassified certain feed mill equipment at the Indiana farm, with a net book value of $248 thousand, as held for sale, a component of prepaid expenses and other current assets, and recorded a charge of $150 thousand to general and administrative expenses to reduce its value to fair value, less estimated selling costs.

Intangible assets

Definite lived intangible assets include patents and licenses. Patent costs consist primarily of legal and filing fees incurred to file patents on proprietary technology developed by the Company. Patent costs are amortized on a straight-line basis over 20 years beginning with the filing date of the applicable patent. License fees are capitalized and expensed over the term of the licensing agreement.

Indefinite lived intangible assets include trademark costs, which are capitalized with no amortization as they have an indefinite life.

Property, plant and equipment

Property, plant and equipment are carried at cost. The Company depreciates all asset classes over their estimated useful lives, as follows:



Building		20 - 25 years
Equipment		5 - 20 years
Office furniture and equipment		3 years
Leasehold improvements		shorter of asset life or lease term
Vehicles		3 years

The Company commences depreciation on an asset in the month it is placed into service, which is dependent upon when the asset is available for its intended use.

Impairment of long-lived assets

The Company reviews the carrying value of its long-lived tangible assets and definite lived intangible assets on an annual basis or more frequently if facts and circumstances suggest that they may be impaired. The carrying values of such assets are considered impaired when the anticipated identifiable undiscounted cash flows from such assets are less than their carrying values. An impairment loss, if any, is recognized in the amount of the difference between the carrying amount and fair value.

Indefinite lived intangible assets are subject to impairment testing annually or more frequently if impairment indicators arise. The Company’s impairment testing utilizes a discounted cash flow analysis that requires significant management judgment with respect to revenue and expense growth rates, changes in working capital and the selection and use of the appropriate discount rate. An impairment loss is recognized in the amount of the difference between the carrying amount and fair value.

During 2019, the Company recognized an impairment loss of $103 thousand, included in general and administrative expenses, and consisting of $90 thousand for one of its trademarks and a write-down of $13 thousand on the value of a long-term equity holding.

Leases

The Company leases certain facilities, property, and equipment under noncancelable operating leases. A determination is made if an arrangement is a lease at its inception, and leases with an initial term of twelve months or less are not recorded on the balance sheet. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. For operating leases, expense is recognized on a straight-line basis over the lease term. The Company has agreements with lease (e.g., minimum rent payments) and non-lease components (e.g., maintenance), which are generally accounted for separately. The Company has not elected the practical expedient to account for lease and non-lease components as one lease component.

The Company adopted Financial Accounting Standards Board's (FASB) Accounting Standards Update (ASU) 2016-02 Leases on January 1, 2019 and recognized a lease liability of $532 thousand and a corresponding right-of-use asset of $512 thousand. Management calculated the lease liability based on the net present value of the remaining lease payments on the date of adoption using a weighted average discount rate of 8%. As most of the Company’s leases did not provide an implicit interest rate, management used an estimated incremental borrowing rate. The adoption did not result in any cumulative-effect adjustment to beginning retained earnings.

Revenue recognition

The Company records revenue on the sale of a product when all revenue recognition criteria are fulfilled, including identifying the contract with a customer; identifying the performance obligations in the contract; determining the transaction price; allocating the transaction price to the performance obligations in the contract; and recognizing revenue when (or as) the Company satisfies a performance obligation. The Company evaluates customer credit risk in order to conclude it is “probable” it will collect the amount of consideration due in exchange for the goods or services.

Income taxes

The Company uses the liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are recorded for the expected future tax consequences of temporary differences between the financial reporting and income tax bases of assets and liabilities and are measured using the enacted tax rates and laws that are expected to be in effect when the differences reverse. A valuation allowance is established to reduce net deferred tax assets to the amount expected to be realized. The Company follows accounting guidance regarding the recognition, measurement, presentation and disclosure of uncertain tax positions in the financial statements. Tax positions taken or expected to be taken in the course of preparing the Company’s tax returns are required to be evaluated to determine whether the tax positions are “more likely than not” to be upheld under regulatory review. The resulting tax impact of these tax positions is recognized in the financial statements based on the results of this evaluation. The Company did not recognize any tax liabilities associated with uncertain tax positions, nor has it recognized any interest or penalties related to unrecognized tax positions. Generally, the Company is no longer subject to federal and state tax examinations by tax authorities for years before 2017.

In 2016, the FASB issued amended guidance related to intra-entity transfers other than inventory. This guidance removes the current exception in GAAP prohibiting entities from recognizing current and deferred income tax expenses or benefits related to transfer of assets, other than inventory, within the consolidated entity. The current exception to defer the recognition of any tax impact on the transfer of inventory within the consolidated entity until it is sold to a third party remains unaffected. The amended guidance became effective for the Company on January 1, 2018. During 2019, the Company transferred certain IP rights from its Canadian subsidiary to the US. The tax effects of this intra-entity transfer are reflected within the components of deferred taxes with an adjustment to the valuation allowance.

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 common shares outstanding during the year. Basic net loss is based solely on the number of common shares outstanding during the year. Fully diluted net loss per share includes the number of shares of common stock issuable upon the exercise of warrants and options 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 common shares are considered anti-dilutive and are excluded from the calculation of diluted net loss per share.

Share-based compensation

The Company measures and recognizes all share-based payment awards, including stock options made to employees and Directors, based on estimated fair values. The fair value of a share-based payment award is estimated on the date of grant using an option pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as an expense over the requisite service period in the Company’s consolidated statement of operations. The Company uses the Black-Scholes option pricing model (“Black-Scholes”) as its method of valuation. Non-employee stock-based compensation is accounted for using Black-Scholes to determine the fair value of warrants or options awarded to non-employees with the fair value of such issuances expensed over the period of service.

Risks and Uncertainties

12 Months Ended

Dec. 31, 2020

Risks and Uncertainties [Abstract]

Risks and Uncertainties

3. Risks and uncertainties

The Company is subject to risks and uncertainties common in the biotechnology and aquaculture industries. Such risks and uncertainties include, but are not limited to: (i) results from current and planned product development studies and trials; (ii) decisions made by the FDA or similar regulatory bodies in other countries with respect to approval and commercial sale of any of the Company’s proposed products; (iii) the commercial acceptance of any products approved for sale and the Company’s ability to manufacture, distribute, and sell for a profit any products approved for sale; (iv) the Company’s ability to obtain the necessary patents and proprietary rights to effectively protect its technologies; and (v) the outcome of any collaborations or alliances entered into by the Company.

COVID-19

In March 2020, the World Health Organization declared the outbreak of a novel coronavirus, SARS-CoV-2, as a pandemic, which continues to spread throughout the United States and worldwide. Because infections of this virus and the incidences of the disease it causes, certain national, provincial, state, and local governmental authorities in the United States and Canada have issued

proclamations and directives aimed at minimizing the spread of the virus. Additional, more restrictive proclamations and directives may be issued in the future.

The ultimate impact of the COVID-19 pandemic on the Company’s operations is unknown and will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the duration of the COVID-19 pandemic, new information which may emerge concerning the severity of the COVID-19 pandemic, and any additional preventative and protective actions that governments, or the Company, may direct, which may result in an extended period of continued business disruption and reduced operations.

To date, the Company’s farm operations have not been materially affected by the pandemic, although management has made modifications to biosecurity procedures and the farm sites to adapt to local requirements and to provide a safe work environment. The Company’s current preventative and protective measures include, but are not limited to, segregating farm workers to specific locations, rotating shifts, and monitoring worker temperatures upon arrival at our facilities. To the extent possible, work-from-home is utilized for employees that do not have fish care responsibilities.

The Company has experienced delays in capital projects due to the pandemic, including a six-month delay in the completion of the processing facility at the Indiana farm, which did not become operational until November 2020. Management utilized third party alternatives for fish processing during the delay.

The Company has been primarily impacted by a reduction in the market price and demand for Atlantic salmon due to the pandemic’s impact on the food service sector. This had and continues to have a negative impact on revenue and inventory value, as the company is not yet an established vendor and customers do not need a new supplier during a period of depressed demand. Consequently, in December 2020, management made the decision to donate substantially all of the conventional salmon to local food charities, which are experiencing unprecedented need during the pandemic. This decision was made to ease the capacity constraints at the Indiana farm to provide space for the growing biomass of AquAdvantage salmon. The donation program commenced in February 2021.

The financial impact of the pandemic is likely to continue through at least the first half of 2021, as the industry waits for the roll-out of COVID-19 vaccines and the subsequent reopening of the food service sector. Any financial impact beyond the near-term cannot be reasonably estimated at this time but may have a material adverse impact on the Company’s business, financial condition, and results of operations in 2021.

Concentration of credit risk

Financial instruments that potentially subject the Company to credit risk consist principally of cash and cash equivalents and certificates of deposit. This risk is mitigated by the Company’s policy of investing in financial instruments with short-term maturities issued by highly rated financial institutions. 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 $242 thousand at December 31, 2020.

Financial instruments

The carrying amounts reported in the consolidated balance sheets for other receivables and accounts payable approximate fair value based on the short-term maturity of these instruments. The carrying value of term debt approximates its fair value since it provides for market terms and interest rates.

Included in other assets is a long-term investment that consists of 216,281 shares of common stock of A/F Protein, Inc. (AFP), equating to less than 1% ownership. During 2019, the cost basis for these shares was reduced from $22 thousand to $9 thousand, which the Company believes to be the best estimate of market value. AFP and the Company have certain shareholders in common.

Inventory

12 Months Ended

Dec. 31, 2020

Inventory [Abstract]

Inventory

4. Inventory

Major classifications of inventory are summarized as follows for December 31, 2020 and 2019:



	2020		2019
Feed	$	244,311	$	251,778
Eggs		54,929		55,887
Packaging		6,452		—
Fish in process, net		1,219,685		924,384
Inventory, net		1,525,377		1,232,049

In December 2020, the Company wrote-down the value of its fish-in-process inventory by $1.53 million, representing the total carrying amount of the conventional salmon biomass. The Company plans to donate substantially all of its conventional salmon to local food charities during the first quarter of 2021.

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

5. Property, plant and equipment

Major classifications of property, plant and equipment are summarized as follows for December 31, 2020 and 2019:



	2020		2019
Land	$	724,785	$	718,586
Building and improvements		14,048,917		13,297,489
Construction in Process		3,212,287		2,105,873
Equipment		13,819,210		12,275,619
Office furniture and equipment		202,596		201,813
Vehicles		28,700		28,097
Total property and equipment	$	32,036,495	$	28,627,477
Less accumulated depreciation and amortization		(5,106,157)		(3,561,641)
Property, plant and equipment, net	$	26,930,338	$	25,065,836

Depreciation and amortization expense for 2020 on property, plant and equipment was $1.5 million (2019: $1.3 million; 2018: $830 thousand).

In March 2020, the Company settled an outstanding legal claim against a third party resulting in net proceeds of $1.0 million. The proceeds received reduced the carrying value of the acquired equipment. Depreciation on these items has been recalculated prospectively over their remaining useful lives.

As of December 31, 2020, included in construction in process is $1.9 million for construction related to the Rollo Bay farm site and $407 thousand for construction related to the Indiana farm site. An additional $258 thousand and $1.1 million have been committed for the Rollo Bay and Indiana farm sites, respectively.

Accounts Payable and Accrued Liabilities

12 Months Ended

Dec. 31, 2020

Accounts Payable and Accrued Liabilities [Abstract]

Accounts Payable and Accrued Liabilities

6. Accounts payable and accrued liabilities

Accounts payable and accrued liabilities include the following at December 31, 2020 and 2019:



	2020		2019
Accounts payable	$	799,888	$	809,444
Accrued payroll including vacation		583,301		236,489
Accrued professional fees and contract services		278,165		346,349
Accrued taxes		86,052		68,831
Accrued other		12,697		1,696
Accounts payable and accrued liabilities	$	1,760,103	$	1,462,809

Debt

12 Months Ended

Dec. 31, 2020

Debt [Abstract]

Debt

7. Debt

The current terms and conditions of long-term debt outstanding at December 31, 2020 and 2019, are as follows:



	Interest ‎rate	Monthly ‎repayment	Maturity ‎date	2020		2019
ACOA AIF grant	0%	Royalties	—	$	2,253,595	$	2,206,208
ACOA term loan#1	0%	C$3,120	Feb 2027		181,203		184,583
ACOA term loan#2	0%	C$4,630	Sept 2029		381,451		384,100
Kubota Canada Ltd	0%	C$1,142	Jan 2025		43,925		53,533
PEI Finance term loan	4%	C$16,313	Nov 2023		2,014,321		1,766,783
First Farmers Bank & Trust	5.375%	$ 56,832	Oct 2028		4,000,000		—
Total debt				$	8,874,495	$	4,595,207
less: debt issuance costs					(86,066)		—
less: current portion					(259,939)		(163,155)
Long-term debt				$	8,528,490	$	4,432,052

Principal payments due on the long-term debt are as follows:



Year	AIF	ACOA	FPEI	Kubota	FFBT	Total
2021		72,977	76,915	10,757	116,675	277,324
2022		72,977	80,049	10,757	482,306	646,089
2023		72,977	1,857,357	10,757	509,256	2,450,347
2024		72,977	—	10,757	537,276	621,010
2025		72,977	—	897	567,735	641,609
Thereafter	2,253,595	197,769	—	—	1,786,752	4,238,116
Total	2,253,595	562,654	2,014,321	43,925	4,000,000	8,874,495

Atlantic Canada Opportunities Agency (“ACOA”)

ACOA is a Canadian government agency that provides funding to support the development of businesses and promote employment in the Atlantic region of Canada.

ACOA Atlantic Innovation Fund (“AIF”) Grant

In January 2009, the Canadian Subsidiary was awarded an AIF grant from ACOA to provide a contribution towards the funding of a research and development project. Contributions under the grant were made through 2014 and no further funds are available. Amounts claimed by the Canadian Subsidiary must be repaid in the form of a 10% royalty on any products that are commercialized out of this research project until the loan is fully repaid. Revenue from the sale of AquAdvantage salmon are not subject to the royalty, and the Company does not expect to commercialize products that would be subject to the royalty in the next five years.

ACOA term loans

In February 2016, the Canadian Subsidiary executed an agreement with ACOA to partially finance the renovations to the Rollo Bay farm site. All available funding under the agreement was disbursed through May 2017, and no further amounts are available. The loan is being repaid over a period of nine years.

In November 2018, the Canadian Subsidiary executed a second agreement with ACOA to partially finance the renovations to the Rollo Bay site. All available funding under the agreement was disbursed through March 2019, and no further amounts are available. The loan term is nine years with a zero percent interest rate. Repayments began in January 2020.

In response to the COVID-19 pandemic, the Company was informed by Atlantic Canada Opportunities Agency (ACOA) on March 19, 2020, that all payments to the Canadian government would be deferred for three months, commencing April 1, 2020. On June 15,

2020, the Company was informed that payments would be deferred an additional three months, recommencing October 1, 2020. On October 14, 2020, the Company was informed that payments would continue to be deferred until further notice. Payments to ACOA resumed on January 1, 2021.

Kubota

Kubota is a manufacturer of power equipment for the construction, agriculture, commercial, and residential industries.

In January 2018, the Canadian Subsidiary financed the purchase of equipment through a loan with Kubota. The total amount is being repaid in monthly installments. The loan is secured by the underlying equipment.

Finance PEI (“FPEI”)

FPEI is a corporation of the Ministry of Economic Development and Tourism for Prince Edward Island, Canada, and administers business financing programs for the provincial government.

In August 2016, the Canadian Subsidiary obtained a loan from FPEI to partially finance the purchase of the assets of the former Atlantic Sea Smolt plant in Rollo Bay West on Prince Edward Island.

In 2018, the Canadian Subsidiary obtained a new loan from FPEI, which incorporates the existing loan and provides C$2.0 million ($1.5 million) of additional funds. As of December 31, 2019, C$1.7 million ($1.3 million) had been drawn down. The final C$300 thousand ($230 thousand) was drawn down on April 23, 2020. Repayment commenced in 2019. The loan has an interest rate of 4% and is collateralized by a mortgage executed by the Canadian Subsidiary, which conveys a first security interest in all of its current and acquired assets. The loan is guaranteed by the Parent.

On March 24, 2020, the Company was informed by FPEI that all payments would be deferred for three months due to the COVID-19 pandemic. Payments on the loan resumed on August 1, 2020.

First Farmers Bank & Trust (“FFBT”)

On July 31, 2020, the Company’s Indiana Subsidiary obtained a $4.0 million loan from First Farmers Bank and Trust. Net proceeds were $3.9 million after deducting $90 thousand in loan costs. The loan bears interest at a rate of 5.375% for the first five years. On July 31, 2025, the interest rate resets to the then U.S. Treasury 5-year maturities rate plus 5% and remains fixed at that rate through maturity on October 1, 2028. The note requires interest only payments for the first 13 months, followed by monthly principal and interest payments of approximately $57 thousand through maturity. Proceeds from the loan may be used for the purpose of performing equipment upgrades, purchasing equipment and other improvements to the Indiana farm. The Company must comply with certain financial and non-financial covenants and at December 31, 2020, the Company was in compliance. The loan is also subject to certain prepayment penalties and is secured by the assets of the Indiana subsidiary and a guarantee by the Parent. The loan agreement requires the Company to maintain a $500 thousand minimum cash balance with the bank throughout the loan term. This amount is reflected as restricted cash on the balance sheet.

Department of Fisheries and Oceans (“DFO”)

DFO is a department of the government of Canada responsible for safeguarding its waters and managing its fisheries, oceans and freshwater resources. DFO supports economic growth in the marine and fisheries sectors, and innovation in areas such as aquaculture and biotechnology.

In September 2020, the Canadian Subsidiary entered into a Contribution Agreement with DFO'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. As of December 31, 2020, the Canadian Subsidiary had not drawn down any of the funds available under the agreement. Any borrowings under the agreement are interest free and monthly repayments of any borrowed amounts commence in March 2023, with maturity in September 2029.

The Company recognized interest expense in 2020 of $152 thousand (2019: $62 thousand; 2018: $22 thousand) on its interest-bearing debt.

Stockholders' Equity

12 Months Ended

Dec. 31, 2020

Stockholders' Equity [Abstract]

Stockholders' Equity

8. Stockholders’ equity

The Company’s shareholders have authorized 85 million shares of stock, of which 5 million are authorized as preferred stock and 80 million as common stock. At December 31, 2020, the Company had zero shares (2019: zero) of preferred stock and 55,497,133 shares (2019: 21,635,365) of common stock, issued and outstanding.

Common stock

The holders of the common stock are entitled to one vote for each share held at all meetings of stockholders. Dividends and distribution of assets of the Company in the event of liquidation are subject to the preferential rights of any outstanding preferred shares.

Recent issuances

In January 2018, the Company completed a public offering of 3,692,307 Common Shares and warrants for 4,246,153 Common Shares. Net proceeds to the Company were $10.6 million after deducting discounts, fees, and expenses. Precigen, the Company’s then majority shareholder, participated in the offering, purchasing 1,538,461 Common Shares and warrants for 1,538,461 Common Shares for gross proceeds of $5.0 million.

On October 24, 2018, 2,250,461 Common Shares were issued through the exercise of outstanding warrants at a discounted price of $2.00. Net proceeds to the Company were $4.3 million after deducting discounts, fees, and expenses. Precigen participated in the exercise, converting warrants for the issuance of 1,538,461 Common Shares, resulting in gross proceeds of $3.1 million.

During 2018, the Company issued 249,824 Common Shares in conjunction with the exercise of warrants, with total proceeds of $0.8 million.

During 2019, the Company issued 83,564 Common Shares in connection with the exercise of warrants, with total proceeds of $0.3 million.

On March 21, 2019, the Company completed a public offering of 3,345,282 Common Shares for net proceeds of approximately $6.6 million.

On April 5, 2019, the Company completed a public offering of 2,554,590 Common Shares for net proceeds of approximately $5.1 million. On April 17, 2019, the Company issued 346,488 Common Shares in conjunction with the over-allotment exercise of its underwriters for net proceeds of approximately $0.7 million.

On May 6, 2020, the Company issued 20,000 restricted common shares to a consultant. The Company recorded a charge of $41 thousand in conjunction with the share issuance.

On August 7, 2020, the Company completed a public offering of 11,000,000 Common Shares for net proceeds of approximately $25.8 million. On August 17, 2020, the Company issued 1,650,000 Common Shares in conjunction with the over-allotment exercise of its underwriters for net proceeds of approximately $3.9 million.

On December 14, 2020, the Company completed a public offering of 10,028,000 Common Shares for net proceeds of approximately $60.4 million.

During 2020, the Company issued 713,449 Common Shares in connection with the exercise of warrants, with total proceeds of $2.3 million.

On February 8, 2021, the Company completed a public offering of 14,950,000 Common Shares for net proceeds of approximately $119.2 million.

Warrants

The following table summarizes information about outstanding warrants at December 31, 2020:



	Number of ‎warrants	Weighted ‎average ‎exercise price
Outstanding at December 31, 2019	1,662,304	$	3.25
Exercised	(713,449)		3.25
Outstanding at December 31, 2020	948,855	$	3.25
Exercisable at December 31, 2020	948,855	$	3.25

Share-based compensation

In 2006, the Company established the 2006 Equity Incentive Plan (the “2006 Plan”). The 2006 Plan provided for the issuance of incentive stock options to employees of the Company and non-qualified stock options and awards of restricted stock to Directors, officers, employees, and consultants of the Company. In accordance with its original terms, the 2006 Plan terminated on March 18, 2016. All outstanding awards under the 2006 Plan will continue until their individual termination dates.

In March 2016, the Company’s Board of Directors adopted the AquaBounty Technologies, Inc. 2016 Equity Incentive Plan (the “2016 Plan”) to replace the 2006 Plan. The 2016 Plan provides for the issuance of incentive stock options, non-qualified stock options, and awards of restricted and direct stock purchases to Directors, officers, employees, and consultants of the Company. The 2016 Plan was approved by the Company’s shareholders at its Annual Meeting on April 26, 2016 and the aggregate number of shares of common stock that were to be issued pursuant to awards granted under the 2016 Plan could not exceed 450,000. At the April 30, 2019, Annual Meeting, an additional 450,000 shares of common stock that may be issued pursuant to awards granted under the 2016 Plan were authorized, for a total of 900,000. At the April 28, 2020, Annual Meeting, an additional 1,000,000 shares of common stock that may be issued pursuant to awards granted under the 2016 Plan were authorized, for a total of 1,900,000.

Restricted stock

The Company’s restricted stock activity under the 2006 Plan and the 2016 Plan is summarized as follows:



	Shares	Weighted ‎average grant ‎date fair value
Unvested at December 31, 2019	39,900	$	2.31
Granted	100,319		1.88
Vested	(67,566)		2.12
Unvested at December 31, 2020	72,653	$	1.90

During 2020, the Company expensed $186 thousand (2019: $385 thousand; 2018: $27 thousand) related to restricted stock awards. At December 31, 2020, the balance of unearned share-based compensation to be expensed in future periods related to the restricted stock awards is $95 thousand. The period over which the unearned share-based compensation is expected to be earned is approximately 2.2 years.

Stock options

The Company’s option activity under the 2006 Plan and the 2016 Plan is summarized as follows:



	Number of ‎options	Weighted ‎average ‎exercise price
Outstanding at December 31, 2019	573,925	$	4.94
Issued	104,458		1.99
Expired	(20,969)		11.04
Outstanding at December 31, 2020	657,414	$	4.28
Exercisable at December 31, 2020	598,139	$	4.51

Unless otherwise indicated, options issued to employees, members of the Board of Directors, and non-employees are vested over one year to three years and are exercisable for a term of ten years from the date of issuance.

The weighted average fair value of stock options granted during 2020 was $1.49 (2019: $1.62; 2018: 2.50.). There were no options exercised in 2020, 2019 or 2018. The total intrinsic value of options exercised in 2020, 2019 and 2018 was $0. At December 31, 2020, the total intrinsic value of all options outstanding was $3.6 million (2019: $1 thousand; 2018: $0), the total intrinsic value of exercisable options was $3.2 million (2019: $1 thousand; 2018 $0), and the total number of shares available for grant under the 2016 Plan was 996,767 (2019: 198,034; 2018: 268,138).

The following table summarizes information about options outstanding and exercisable at December 31, 2020:


Weighted		Weighted		Weighted average
average exercise	Number of	average remaining	Number of	price of outstanding
price of outstanding	options	estimated life	options	and exercisable
options	outstanding	(in years)	exercisable	options
$1.88 - $2.50	531,519	8.3	472,244
$3.30 - $6.90	33,805	1.3	33,805
$7.50 - $10.80	20,503	3.5	20,503
$14.20 - $23.40	71,587	5.3	71,587
	657,414		598,139	$4.51

The fair values of stock option grants to employees and members of the Board of Directors during 2020, 2019, and 2018 were measured on the date of grant using Black-Scholes, with the following weighted average assumptions:



	2020	2019		2018
Expected volatility	101% - 104%		89% - 100%		81%
Risk free interest rate	0.31% - 1.67%		1.55% - 2.85%		2.60%
Expected dividend yield	0.0%		0.0%		0.0%
Expected life (in years)	5		5		5

The risk-free interest rate is estimated using the Federal Funds interest rate for a period that is commensurate with the expected term of the awards. The expected dividend yield is zero because the Company has never paid a dividend and does not expect to do so for the foreseeable future. The expected life was based on a number of factors including historical experience, vesting provisions, exercise price relative to market price, and expected volatility. The Company believes that all groups of employees demonstrate similar exercise and post-vesting termination behavior and, therefore, does not stratify employees into multiple groups and forfeitures are recognized as they occur. The expected volatility was estimated using the Company’s historical price volatility over a period that is commensurate with the expected term of the awards.

Total share-based compensation on stock-option grants amounted to $251 thousand in 2020 (2019: $487 thousand; 2018: $236 thousand). At December 31, 2020, the balance of unearned share-based compensation to be expensed in future periods related to

unvested share-based awards is $84 thousand. The period over which the unearned share-based compensation is expected to be earned is 2.5 years.

In June 2019, the Company recognized share based compensation of $134 thousand related to the accelerated vesting and exercisable term change for options to purchase an aggregate of 153,940 shares for the Company’s former CEO, who retired June 30, 2019. Each option granted was revalued as of June 30, 2019, using the following Black-Scholes values to determine the incremental charges for the option modification: expected volatility of 97%, risk free interest rate of 1.71% to 1.92%, expected dividend yield of 0.0%, and expected life of 1.5 to 5 years.

The following table summarizes the expense related to the options revalued in June 2019:


Grant date	Number of options	Previous		Accelerated		Incremental		Total
1/11/2011	16,667	$	109,769	$	—	$	11,782	$	121,551
1/20/2014	6,667		120,712		—		7,621		128,333
2/27/2018	60,606		99,738		—		12,313		112,051
4/21/2017	20,000		70,346		20,736		13,485		104,567
4/30/2019	50,000		13,453		67,047		1,274		81,774
	153,940	$	414,018	$	87,783	$	46,475	$	548,276

Share-based compensation

The following table summarizes share-based compensation costs recognized in the Company’s Consolidated Statements of Operations and Comprehensive Loss for the years ended December 31, 2020, 2019, and 2018:



		2020	2019		2018
Research and development	$	497	$	3,127	$	3,238
Sales and marketing		—		12,578		—
General and administrative		436,194		856,472		260,158
Total share-based compensation	$	436,691	$	872,177	$	263,396

Income Taxes

12 Months Ended

Dec. 31, 2020

Income Taxes [Abstract]

Income Taxes

9. Income taxes

The components of loss before income taxes for the years ended December 31, 2020, 2019, and 2018, are presented below:



	2020		2019		2018
Domestic	$	(15,768,224)	$	(12,950,725)	$	(9,702,869)
Foreign		(631,761)		(276,917)		(679,190)
Loss before income taxes	$	(16,399,985)	$	(13,227,642)	$	(10,382,059)

Income taxes computed using the federal statutory income tax rate differs from the Company’s effective tax rate for the years ended December 31, 2020, 2019, and 2018, primarily due to the following:



	2020		2019		2018
Income tax benefit	$	(3,443,997)	$	(2,777,805)	$	(2,180,233)
State and provincial income tax, net of federal benefit		(732,994)		397,081		(534,789)
Permanent differences		131,141		219,549		53,795
US-Foreign rate differential		(142,663)		38,776		(13,955)
Other, net		(145,973)		866,250		1,182,900
	$	(4,334,486)	$	(1,256,149)	$	(1,492,282)
Change in valuation allowance		4,334,486		1,256,149		1,492,282
Total income tax	$	—	$	—	$	—

As of December 31, 2020, the Company has domestic net operating loss carryforwards of approximately $56 million, after consideration of limitations pursuant to section 382, to offset future federal taxable income, which begin to expire in 2031. At December 31, 2020, the Company has domestic net operating loss carryforwards of approximately $27 million, which can be carried forward indefinitely. The future utilization of certain historic net operating loss and tax credit carryforwards, however, is subject to annual use limitations based on the change in stock ownership rules of Internal Revenue Code Sections 382 and 383. The Company experienced a change in ownership under these rules during 2012 and revised its calculation of net operating loss carryforwards based on annual limitation rules. The Company also has foreign research loss carryforwards totaling approximately $10.0 million and foreign research and development expense tax credits of approximately $2.7 million at December 31, 2020, which expire at various times commencing in 2021. Since the Company has incurred only losses from inception and there is uncertainty related to the ultimate use of the loss carryforwards and tax credits, a valuation allowance has been recognized to offset the Company’s deferred tax assets, and no benefit for income taxes has been recorded.

Significant components of the Company’s deferred tax assets and liabilities are as follows:



		2020		2019
Deferred tax assets:
Net operating loss carryforwards	$	16,964,199	$	12,251,892
Foreign research and development tax credit carryforwards		2,679,180		2,564,679
Property and equipment		56,697		429,764
Intangibles		3,122,394		3,241,649
Total deferred tax assets	$	22,822,470	$	18,487,984
Valuation allowance	$	(22,822,470)	$	(18,487,984)
Net deferred tax assets	$	—	$	—

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Commitments and Contingencies

12 Months Ended

Dec. 31, 2020

Commitments and Contingencies [Abstract]

Commitments and Contingencies

10. Commitments and contingencies

The Company recognizes and discloses commitments when it enters into executed contractual obligations with other parties. The Company accrues contingent liabilities when it is probable that future expenditures will be made and such expenditures can be reasonably estimated.

The Company is subject to legal proceedings and claims arising in the normal course of business. Management believes that final disposition of any such matters existing at December 31, 2020, will not have a material adverse effect on the Company’s financial position or results of operations.

Lease commitments

Lease expense for the year ended December 31, 2020, amounted to $86 thousand. The weighted average remaining lease term of the Company’s operating leases was 23.3 years as of December 31, 2020. Lease payments included in operating cash flows totaled $85 thousand for the year ended December 31, 2020.

The table below summarizes the Company’s lease obligations and remaining payments at December 31, 2020:



				December 31, 2020				December 31, 2019
	Lease ‎Type	End ‎Date	Remaining ‎Years	Remaining ‎Payments		Lease ‎Liability		Remaining ‎Payments		Lease ‎Liability
Maynard Office Lease	Operating	Mar 2023	2.3	$	150,918	$	134,099	$	215,556	$	186,323
Indiana Auto Lease	Operating	Feb 2021	0.2		1,157		821		5,999		5,533
Indiana Well Lease	Operating	Dec 2048	28.0		686,809		217,890		702,341		223,238
Total leases				$	838,884	$	352,810	$	923,896	$	415,094
Less: current portion					(83,571)		(62,483)		(85,011)		(62,286)
Long-term leases				$	755,313	$	290,327	$	838,885	$	352,808

The current portion of the lease liability is included as a component of other current liabilities in the consolidated balance sheets.

Remaining payments under leases are as follows at December 31, 2020:



Year	Office		Auto		Well		Amount
2021	$	66,416	$	1,157	$	15,998	$	83,571
2022		67,602		—		16,478		84,080
2023		16,901		—		16,972		33,873
2024		—		—		17,481		17,481
2025		—		—		18,006		18,006
Thereafter		—		—		601,873		601,873
Total Lease Payments	$	150,919	$	1,157	$	686,808	$	838,884

Retirement Plan

12 Months Ended

Dec. 31, 2020

Retirement Plan [Abstract]

Retirement Plan

11. Retirement plan

The Company has a savings and retirement plan for its US employees that qualifies under Section 401(k) of the Internal Revenue Code. The plan covers substantially all employees and provides for voluntary contributions by participating employees up to the maximum contribution allowed under the Internal Revenue Code. Contributions by the Company can be made, as determined by the Board of Directors, provided the amount does not exceed the maximum permitted by the Internal Revenue Code. Company contributions made and expensed in operations in connection with the plan during the year ended December 31, 2020, amounted to $72 thousand (2019: $64 thousand; 2018: $44 thousand).

The Company also has a Registered Retirement Savings Plan for its Canadian employees. Company contributions made and expensed in operations in connection with the plan during the year ended December 31, 2020, amounted to $32 thousand (2019: $28 thousand; 2018: $26 thousand).

Related Party Collaboration Agreement

12 Months Ended

Dec. 31, 2020

Related Party Collaboration Agreement

12. Related Party Collaboration Agreement

In February 2013, the Company entered into an Exclusive Channel Collaboration Agreement with Precigen, its then majority shareholder, pursuant to which the Company would use Precigen’s technology platforms to develop and commercialize additional bioengineered traits in finfish for human consumption.

The Company agreed to pay Precigen quarterly 16.66% of the gross profits calculated under the terms of the agreement for each developed product. The Company likewise agreed to pay Precigen 50% of quarterly revenue obtained from a sublicensor in the event of a sublicensing arrangement. In addition, the Company would reimburse Precigen for the costs of certain services provided by Precigen. The agreement was terminated in 2020 and no royalties were paid to Precigen during the year.

Total Precigen service costs incurred under the terms of this agreement totaled $0 in 2020 (2019: $218 thousand; 2018: $562 thousand), of which $0 is included in accounts payable and accrued liabilities at December 31, 2020 (2019: $1 thousand), and is included as a component of research and development expense in the Consolidated Statements of Operations and Comprehensive Loss.

Recently Issued Accounting Standards

12 Months Ended

Dec. 31, 2020

Recently Issued Accounting Standards [Abstract]

Recently Issued Accounting Standards

13. Recently Issued Accounting Standards

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.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 65
-Paragraph 1
-Subparagraph (g)(2)
-URI http://asc.fasb.org/extlink&oid=113356391&loc=SL49131195-203048

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-URI http://asc.fasb.org/topic&trid=2122394

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 65
-Paragraph 1
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=113356391&loc=SL49131195-203048

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section S99
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=112272810&loc=SL108384541-122693

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 65
-Paragraph 1
-Subparagraph (i)(2)
-URI http://asc.fasb.org/extlink&oid=113356391&loc=SL49131195-203048

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iii)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(4)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(ii)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(i)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (g)(1)
-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 65
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+ Details

Quarterly Financial Information

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information [Abstract]

Quarterly Financial Information

14. Quarterly Financial Information (unaudited)

The following information has been derived from unaudited consolidated statements that, in the opinion of management, include all recurring adjustments necessary for a fair statement of such information.



	Three Months Ended 2020
	March 31		June 30		September 30		December 31
Revenue	$	6,753	$	2,950	$	67,763	$	50,197
Operating loss		(3,091,421)		(3,504,999)		(3,613,158)		(6,038,252)
Net loss		(3,109,618)		(3,523,684)		(3,649,788)		(6,116,895)
Basic and diluted net loss per share attributable to common shareholders	$	(0.11)	$	(0.11)	$	(0.09)	$	(0.13)

	Three Months Ended 2019
	March 31		June 30		September 30		December 31
Revenue	$	97,885	$	42,486	$	—	$	46,367
Operating loss		(2,755,694)		(4,019,719)		(2,999,592)		(3,403,639)
Net loss		(2,763,932)		(4,026,731)		(3,018,222)		(3,418,757)
Basic and diluted net loss per share attributable to common shareholders	$	(0.17)	$	(0.19)	$	(0.14)	$	(0.16)

Subsequent Events

12 Months Ended

Dec. 31, 2020

Subsequent Events [Abstract]

Subsequent Events

15. Subsequent events

On February 8, 2021, the Company completed a public offering of 14,950,000 Common Shares for net proceeds of approximately $119.2 million.

On February 25, 2021, the Canadian Subsidiary received a claim reimbursement under its Contribution Agreement with DFO in the amount of C$238,400 or approximately $184,760 (see Note 7).

Nature of Business and Organization (Policies)	12 Months Ended
Nature of Business and Organization (Policies)	Dec. 31, 2020
Nature of Business and Organization [Abstract]
Nature of Business	Nature of business AquaBounty Technologies, Inc. (the “Parent” and, together with its subsidiaries, the “Company”) was incorporated in December 1991 in the State of Delaware for the purpose of conducting research and development of the commercial viability of a group of proteins commonly known as antifreeze proteins. In 1996, the Parent obtained the exclusive licensing rights for a gene construct (transgene) used to create a breed of farm‑raised Atlantic salmon that exhibit growth rates that are substantially faster than conventional salmon. In 2015, the Parent obtained regulatory approval from the U.S. Food and Drug Administration for the production and sale of its AquAdvantage salmon product in the United States and in 2016, the Parent obtained regulatory approval from Health Canada for the production and sale of its AquAdvantage salmon product in Canada. AQUA Bounty Canada Inc. (the “Canadian Subsidiary”) was incorporated in January 1994 for the purpose of establishing a commercial biotechnology laboratory to conduct research and development programs related to the Parent’s technologies and to commercialize the Parent’s products in Canada. AquaBounty Panama, S. de R.L. (the “Panama Subsidiary”) was incorporated in May 2008 in Panama for the purpose of conducting commercial trials of the Parent’s products. Operations at the site concluded in May 2019. AquaBounty Farms, Inc. (the “U.S. Subsidiary”) was incorporated in December 2014 in the State of Delaware for the purpose of conducting field trials and commercializing the Parent’s products in the United States. AquaBounty Farms Indiana LLC (the “Indiana Subsidiary”), which is wholly owned by the U.S. Subsidiary, was formed in June 2017 in the State of Delaware for the purpose of operating its aquaculture facility in Albany, Indiana. AquaBounty Brasil Participações Ltda. (the “Brazil Subsidiary”) was incorporated in May 2015 for the purpose of conducting field trials and commercializing the Parent’s products in Brazil.
Basis of Presentation	Basis of presentation The consolidated financial statements include the accounts of AquaBounty Technologies, Inc. and its wholly owned direct subsidiaries, AQUA Bounty Canada Inc.; AquaBounty Panama, S. de R.L.; AquaBounty Farms, Inc.; AquaBounty Farms Indiana LLC; and AquaBounty Brasil Participacoes Ltda. The entities are collectively referred to herein as the “Company.” All inter-company transactions and balances have been eliminated upon consolidation.
Liquidity	Liquidity The Company completed multiple equity raises in 2020 and has $95.8 million in cash and cash equivalents as of December 31, 2020. Subsequent to year end, in February 2021, the Company raised an additional $119.2 million. While the Company has experienced net losses and negative cash flows from operations since inception, management believes that it has sufficient cash to meet the Company's requirements for at least the next twelve months from the filing date. However, until such time as the Company reaches profitability, it may require additional financing to fund its operations and execute its business plan.

Summary of Significant Accounting Policies (Policy)

12 Months Ended

Dec. 31, 2020

Summary of Significant Accounting Policies [Abstract]

Use of Estimates

Use of estimates

Comprehensive Loss

Comprehensive loss

Foreign Currency Translation

Foreign currency translation

Cash equivalents

Asset held for sale

Intangible assets

Indefinite lived intangible assets include trademark costs, which are capitalized with no amortization as they have an indefinite life.

Property, Plant and Equipment

Property, plant and equipment

Property, plant and equipment are carried at cost. The Company depreciates all asset classes over their estimated useful lives, as follows:



Building		20 - 25 years
Equipment		5 - 20 years
Office furniture and equipment		3 years
Leasehold improvements		shorter of asset life or lease term
Vehicles		3 years

The Company commences depreciation on an asset in the month it is placed into service, which is dependent upon when the asset is available for its intended use.

Impairment of Long-lived Assets

Impairment of long-lived assets

Revenue recognition

Income taxes

Net loss per share

Share-based Compensation

Share-based compensation

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Summary of Significant Accounting Policies [Abstract]

Property, Plant and Equipment Estimated Useful Lives

The Company depreciates all asset classes over their estimated useful lives, as follows:



Building		20 - 25 years
Equipment		5 - 20 years
Office furniture and equipment		3 years
Leasehold improvements		shorter of asset life or lease term
Vehicles		3 years

Inventory (Tables)

12 Months Ended

Dec. 31, 2020

Inventory [Abstract]

Schedule of Inventory

Major classifications of inventory are summarized as follows for December 31, 2020 and 2019:



	2020		2019
Feed	$	244,311	$	251,778
Eggs		54,929		55,887
Packaging		6,452		—
Fish in process, net		1,219,685		924,384
Inventory, net		1,525,377		1,232,049

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment

Major classifications of property, plant and equipment are summarized as follows for December 31, 2020 and 2019:



	2020		2019
Land	$	724,785	$	718,586
Building and improvements		14,048,917		13,297,489
Construction in Process		3,212,287		2,105,873
Equipment		13,819,210		12,275,619
Office furniture and equipment		202,596		201,813
Vehicles		28,700		28,097
Total property and equipment	$	32,036,495	$	28,627,477
Less accumulated depreciation and amortization		(5,106,157)		(3,561,641)
Property, plant and equipment, net	$	26,930,338	$	25,065,836

Accounts Payable and Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Accounts Payable and Accrued Liabilities [Abstract]

Schedule of Accounts Payable and Accrued Liabilities

Accounts payable and accrued liabilities include the following at December 31, 2020 and 2019:



	2020		2019
Accounts payable	$	799,888	$	809,444
Accrued payroll including vacation		583,301		236,489
Accrued professional fees and contract services		278,165		346,349
Accrued taxes		86,052		68,831
Accrued other		12,697		1,696
Accounts payable and accrued liabilities	$	1,760,103	$	1,462,809

Debt (Tables)

12 Months Ended

Dec. 31, 2020

Debt [Abstract]

Terms and Conditions of Long-term Debt Outstanding

The current terms and conditions of long-term debt outstanding at December 31, 2020 and 2019, are as follows:



	Interest ‎rate	Monthly ‎repayment	Maturity ‎date	2020		2019
ACOA AIF grant	0%	Royalties	—	$	2,253,595	$	2,206,208
ACOA term loan#1	0%	C$3,120	Feb 2027		181,203		184,583
ACOA term loan#2	0%	C$4,630	Sept 2029		381,451		384,100
Kubota Canada Ltd	0%	C$1,142	Jan 2025		43,925		53,533
PEI Finance term loan	4%	C$16,313	Nov 2023		2,014,321		1,766,783
First Farmers Bank & Trust	5.375%	$ 56,832	Oct 2028		4,000,000		—
Total debt				$	8,874,495	$	4,595,207
less: debt issuance costs					(86,066)		—
less: current portion					(259,939)		(163,155)
Long-term debt				$	8,528,490	$	4,432,052

Principal Payments Due on Long-term Debt

Principal payments due on the long-term debt are as follows:



Year	AIF	ACOA	FPEI	Kubota	FFBT	Total
2021		72,977	76,915	10,757	116,675	277,324
2022		72,977	80,049	10,757	482,306	646,089
2023		72,977	1,857,357	10,757	509,256	2,450,347
2024		72,977	—	10,757	537,276	621,010
2025		72,977	—	897	567,735	641,609
Thereafter	2,253,595	197,769	—	—	1,786,752	4,238,116
Total	2,253,595	562,654	2,014,321	43,925	4,000,000	8,874,495

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2020

Stockholders' Equity [Abstract]

Information About Outstanding Warrants

The following table summarizes information about outstanding warrants at December 31, 2020:



	Number of ‎warrants	Weighted ‎average ‎exercise price
Outstanding at December 31, 2019	1,662,304	$	3.25
Exercised	(713,449)		3.25
Outstanding at December 31, 2020	948,855	$	3.25
Exercisable at December 31, 2020	948,855	$	3.25

Restricted Stock Activity

The Company’s restricted stock activity under the 2006 Plan and the 2016 Plan is summarized as follows:



	Shares	Weighted ‎average grant ‎date fair value
Unvested at December 31, 2019	39,900	$	2.31
Granted	100,319		1.88
Vested	(67,566)		2.12
Unvested at December 31, 2020	72,653	$	1.90

Stock Option Activity

The Company’s option activity under the 2006 Plan and the 2016 Plan is summarized as follows:



	Number of ‎options	Weighted ‎average ‎exercise price
Outstanding at December 31, 2019	573,925	$	4.94
Issued	104,458		1.99
Expired	(20,969)		11.04
Outstanding at December 31, 2020	657,414	$	4.28
Exercisable at December 31, 2020	598,139	$	4.51

Information About Options Outstanding and Exercisable

The following table summarizes information about options outstanding and exercisable at December 31, 2020:


Weighted		Weighted		Weighted average
average exercise	Number of	average remaining	Number of	price of outstanding
price of outstanding	options	estimated life	options	and exercisable
options	outstanding	(in years)	exercisable	options
$1.88 - $2.50	531,519	8.3	472,244
$3.30 - $6.90	33,805	1.3	33,805
$7.50 - $10.80	20,503	3.5	20,503
$14.20 - $23.40	71,587	5.3	71,587
	657,414		598,139	$4.51

Stock Option Grants Weighted Average Assumptions



	2020	2019		2018
Expected volatility	101% - 104%		89% - 100%		81%
Risk free interest rate	0.31% - 1.67%		1.55% - 2.85%		2.60%
Expected dividend yield	0.0%		0.0%		0.0%
Expected life (in years)	5		5		5

Expense Related to Options Revalued

The following table summarizes the expense related to the options revalued in June 2019:


Grant date	Number of options	Previous		Accelerated		Incremental		Total
1/11/2011	16,667	$	109,769	$	—	$	11,782	$	121,551
1/20/2014	6,667		120,712		—		7,621		128,333
2/27/2018	60,606		99,738		—		12,313		112,051
4/21/2017	20,000		70,346		20,736		13,485		104,567
4/30/2019	50,000		13,453		67,047		1,274		81,774
	153,940	$	414,018	$	87,783	$	46,475	$	548,276

Share-based Compensation Costs Recognized on Financial Statements



		2020	2019		2018
Research and development	$	497	$	3,127	$	3,238
Sales and marketing		—		12,578		—
General and administrative		436,194		856,472		260,158
Total share-based compensation	$	436,691	$	872,177	$	263,396

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Taxes [Abstract]

Components of Loss before Income Taxes

The components of loss before income taxes for the years ended December 31, 2020, 2019, and 2018, are presented below:



	2020		2019		2018
Domestic	$	(15,768,224)	$	(12,950,725)	$	(9,702,869)
Foreign		(631,761)		(276,917)		(679,190)
Loss before income taxes	$	(16,399,985)	$	(13,227,642)	$	(10,382,059)

Schedule of Effective Income Tax Rate Reconciliation



	2020		2019		2018
Income tax benefit	$	(3,443,997)	$	(2,777,805)	$	(2,180,233)
State and provincial income tax, net of federal benefit		(732,994)		397,081		(534,789)
Permanent differences		131,141		219,549		53,795
US-Foreign rate differential		(142,663)		38,776		(13,955)
Other, net		(145,973)		866,250		1,182,900
	$	(4,334,486)	$	(1,256,149)	$	(1,492,282)
Change in valuation allowance		4,334,486		1,256,149		1,492,282
Total income tax	$	—	$	—	$	—

Components of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities are as follows:



		2020		2019
Deferred tax assets:
Net operating loss carryforwards	$	16,964,199	$	12,251,892
Foreign research and development tax credit carryforwards		2,679,180		2,564,679
Property and equipment		56,697		429,764
Intangibles		3,122,394		3,241,649
Total deferred tax assets	$	22,822,470	$	18,487,984
Valuation allowance	$	(22,822,470)	$	(18,487,984)
Net deferred tax assets	$	—	$	—

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2020

Commitments and Contingencies [Abstract]

Summary of Lease Obligations and Remaining Payments

The table below summarizes the Company’s lease obligations and remaining payments at December 31, 2020:



				December 31, 2020				December 31, 2019
	Lease ‎Type	End ‎Date	Remaining ‎Years	Remaining ‎Payments		Lease ‎Liability		Remaining ‎Payments		Lease ‎Liability
Maynard Office Lease	Operating	Mar 2023	2.3	$	150,918	$	134,099	$	215,556	$	186,323
Indiana Auto Lease	Operating	Feb 2021	0.2		1,157		821		5,999		5,533
Indiana Well Lease	Operating	Dec 2048	28.0		686,809		217,890		702,341		223,238
Total leases				$	838,884	$	352,810	$	923,896	$	415,094
Less: current portion					(83,571)		(62,483)		(85,011)		(62,286)
Long-term leases				$	755,313	$	290,327	$	838,885	$	352,808

Summary of Remaining Payments under Leases

Remaining payments under leases are as follows at December 31, 2020:



Year	Office		Auto		Well		Amount
2021	$	66,416	$	1,157	$	15,998	$	83,571
2022		67,602		—		16,478		84,080
2023		16,901		—		16,972		33,873
2024		—		—		17,481		17,481
2025		—		—		18,006		18,006
Thereafter		—		—		601,873		601,873
Total Lease Payments	$	150,919	$	1,157	$	686,808	$	838,884

Quarterly Financial Information (Tables)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information [Abstract]

Quarterly Financial Information



	Three Months Ended 2020
	March 31		June 30		September 30		December 31
Revenue	$	6,753	$	2,950	$	67,763	$	50,197
Operating loss		(3,091,421)		(3,504,999)		(3,613,158)		(6,038,252)
Net loss		(3,109,618)		(3,523,684)		(3,649,788)		(6,116,895)
Basic and diluted net loss per share attributable to common shareholders	$	(0.11)	$	(0.11)	$	(0.09)	$	(0.13)

	Three Months Ended 2019
	March 31		June 30		September 30		December 31
Revenue	$	97,885	$	42,486	$	—	$	46,367
Operating loss		(2,755,694)		(4,019,719)		(2,999,592)		(3,403,639)
Net loss		(2,763,932)		(4,026,731)		(3,018,222)		(3,418,757)
Basic and diluted net loss per share attributable to common shareholders	$	(0.17)	$	(0.19)	$	(0.14)	$	(0.16)

Nature of Business and Organization (Details) - USD ($)	Feb. 28, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash and cash equivalents		$ 95,751,160	$ 2,798,744
Subsequent Event [Member]
Additional cash and cash equivalents	$ 119,200,000

Summary of Significant Accounting Policies (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2020	Jan. 01, 2019
Dreyfus Government Cash Management money market, included in cash equivalents		$ 80,000,000
Assets held for sale	$ 248,000
Asset impairment expense	150,000
Lease liability	415,094	352,810	$ 532,000
Right of use assets	399,477	341,997	$ 512,000
Weighted Average [Member]
Discount rate			8.00%
Trademarks [Member]
Impairment loss	90,000
Long-Term Equity Holding [Member]
Impairment loss	13,000
General And Administrative Expenses [Member]
Impairment loss	$ 103,000
Conventional Salmon Biomass [Member]
Net realizable value		0
AquAdvantage Salmon Biomass [Member]
Net realizable value		$ 1,200,000

Summary of Significant Accounting Policies (Property, Plant and Equipment Estimated Useful Lives) (Details)	12 Months Ended
	Dec. 31, 2020
Building [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	20 years
Building [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	25 years
Equipment \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	5 years
Equipment \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	20 years
Office furniture and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Vehicles
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years

Risks and Uncertainties (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
A/F Protein, Inc. [Member]
Concentration Risk [Line Items]
Common stock included in other assets (in shares)	216,281
Ownership percent, less than	1.00%
Long-term Investments		$ 9	$ 22
Canada [Member] \| Cash [Member] \| Credit Concentration Risk [Member]
Concentration Risk [Line Items]
Cash in Canadian bank accounts	$ 242

Inventory (Narrative) (Details) $ in Thousands	1 Months Ended
Inventory (Narrative) (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Fish In Process [Member]
Inventory [Line Items]
Wrote-down inventory	$ 1,530

Inventory (Schedule of Inventory) (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Inventory [Line Items]
Inventory, net	$ 1,525,377	$ 1,232,049
Feed [Member]
Inventory [Line Items]
Inventory, net	244,311	251,778
Eggs [Member]
Inventory [Line Items]
Inventory, net	54,929	55,887
Packaging [Member]
Inventory [Line Items]
Inventory, net	6,452
Fish In Process [Member]
Inventory [Line Items]
Inventory, net	$ 1,219,685	$ 924,384

Property, Plant and Equipment (Narrative) (Details) - USD ($)	1 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense		$ 1,500,000	$ 1,300,000	$ 830,000
Proceeds from legal settlement, net	$ 1,000,000.0	1,014,008
Gross property, plant, and equipment		32,036,495	28,627,477
Construction In Process [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant, and equipment		3,212,287	$ 2,105,873
Rollo Bay Farm Site [Member] \| Capital Addition Purchase Commitments [Member]
Property, Plant and Equipment [Line Items]
Commitments to purchase property, plant, and equipment		258,000
Rollo Bay Farm Site [Member] \| Construction In Process [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant, and equipment		1,900,000
Indiana Aquaculture Farm [Member] \| Capital Addition Purchase Commitments [Member]
Property, Plant and Equipment [Line Items]
Commitments to purchase property, plant, and equipment		1,100,000
Indiana Aquaculture Farm [Member] \| Construction In Process [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant, and equipment		$ 407,000

Property, Plant and Equipment (Schedule of Property, Plant and Equipment) (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 32,036,495	$ 28,627,477
Less accumulated depreciation and amortization	(5,106,157)	(3,561,641)
Property, plant and equipment, net	26,930,338	25,065,836
Land
Property, Plant and Equipment [Line Items]
Total property and equipment	724,785	718,586
Building And Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	14,048,917	13,297,489
Construction In Process [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	3,212,287	2,105,873
Equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	13,819,210	12,275,619
Office furniture and equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	202,596	201,813
Vehicles
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 28,700	$ 28,097

Accounts Payable and Accrued Liabilities (Schedule of Accounts Payable and Accrued Liabilities) (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Accounts Payable and Accrued Liabilities [Abstract]
Accounts payable	$ 799,888	$ 809,444
Accrued payroll including vacation	583,301	236,489
Accrued professional fees and contract services	278,165	346,349
Accrued taxes	86,052	68,831
Accrued other	12,697	1,696
Accounts payable and accrued liabilities	$ 1,760,103	$ 1,462,809

Debt (Narrative) (Details)			1 Months Ended					12 Months Ended
Debt (Narrative) (Details)	Jul. 31, 2025	Jul. 31, 2020 USD ($)	Sep. 30, 2020 CAD ($)	Sep. 30, 2020 USD ($)	Nov. 30, 2018	Feb. 29, 2016	Jan. 31, 2009	Dec. 31, 2020 CAD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Mar. 31, 2020 CAD ($)	Mar. 31, 2020 USD ($)	Dec. 31, 2019 CAD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CAD ($)	Dec. 31, 2018 USD ($)
Debt Instrument [Line Items]
Proceeds from issuance of debt									$ 4,221,130	$ 900,767	$ 771,858
Loan settlement costs									$ 91,620
Department Of Fisheries And Oceans [Member]
Debt Instrument [Line Items]
Maturity date								September 2029	September 2029
Proceeds from issuance of debt			$ 1,900,000	$ 1,400,000
Loans Payable [Member] \| ACOA AIF Grant [Member]
Debt Instrument [Line Items]
Royalty percentage							10.00%
Interest rate								0.00%	0.00%
Secured Debt [Member] \| ACOA Term Loan#1 [Member]
Debt Instrument [Line Items]
Loan term						9 years
Interest rate								0.00%	0.00%
Maturity date								Feb 2027	Feb 2027
Monthly repayment								$ 3,120
Secured Debt [Member] \| ACOA Term Loan#2 [Member]
Debt Instrument [Line Items]
Loan term					9 years
Interest rate					0.00%			0.00%	0.00%
Maturity date								Sept 2029	Sept 2029
Monthly repayment								$ 4,630
Secured Debt [Member] \| PEI Finance Term Loan [Member]
Debt Instrument [Line Items]
Original loan amount																$ 2,000,000.0	$ 1,500,000
Funds drawn from loan														$ 1,700,000	$ 1,300,000
Anticipated funds drawn on loan												$ 300,000	$ 230,000
Interest rate								4.00%	4.00%							4.00%	4.00%
Maturity date								Nov 2023	Nov 2023
Interest expense									$ 152,000	$ 62,000	$ 22,000
Monthly repayment								$ 16,313
Secured Debt [Member] \| First Farmers Bank & Trust [Member]
Debt Instrument [Line Items]
Original loan amount		$ 4,000,000.0
Interest rate		5.375%						5.375%	5.375%
Maturity date								Oct 2028	Oct 2028
Proceeds from issuance of debt		$ 3,900,000
Loan settlement costs		$ 90,000
Interest rate, period		5 years
Interest only payment period		13 months
Monthly repayment		$ 57,000							$ 56,832
Covenant, minimum cash balance		$ 500,000
Secured Debt [Member] \| Department Of Fisheries And Oceans [Member]
Debt Instrument [Line Items]
Maturity date								Oct. 01, 2028	Oct. 01, 2028
US Treasury 5-Year Maturities Rate [Member] \| First Farmers Bank & Trust [Member] \| Forecast
Debt Instrument [Line Items]
Basis spread on variable rate	5.00%

Debt (Terms and Conditions of Long-term Debt Outstanding) (Details)		12 Months Ended
	Jul. 31, 2020 USD ($)	Dec. 31, 2020 CAD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018	Nov. 30, 2018
Debt Instrument [Line Items]
Total debt			$ 8,874,495	$ 4,595,207
less: debt issuance costs			(86,066)
less: current portion			(259,939)	(163,155)
Long-term debt			8,528,490	4,432,052
ACOA AIF Grant [Member]
Debt Instrument [Line Items]
Total debt			2,253,595
Kubota Canada Ltd [Member]
Debt Instrument [Line Items]
Total debt			43,925
PEI Finance Term Loan [Member]
Debt Instrument [Line Items]
Total debt			2,014,321
First Farmers Bank & Trust [Member]
Debt Instrument [Line Items]
Total debt			$ 4,000,000
Loans Payable [Member] \| ACOA AIF Grant [Member]
Debt Instrument [Line Items]
Interest rate			0.00%
Total debt			$ 2,253,595	2,206,208
Secured Debt [Member] \| ACOA Term Loan#1 [Member]
Debt Instrument [Line Items]
Interest rate			0.00%
Monthly repayment		$ 3,120
Maturity date		Feb 2027	Feb 2027
Total debt			$ 181,203	184,583
Secured Debt [Member] \| ACOA Term Loan#2 [Member]
Debt Instrument [Line Items]
Interest rate			0.00%			0.00%
Monthly repayment		$ 4,630
Maturity date		Sept 2029	Sept 2029
Total debt			$ 381,451	384,100
Secured Debt [Member] \| Kubota Canada Ltd [Member]
Debt Instrument [Line Items]
Interest rate			0.00%
Monthly repayment		$ 1,142
Maturity date		Jan 2025	Jan 2025
Total debt			$ 43,925	53,533
Secured Debt [Member] \| PEI Finance Term Loan [Member]
Debt Instrument [Line Items]
Interest rate			4.00%		4.00%
Monthly repayment		$ 16,313
Maturity date		Nov 2023	Nov 2023
Total debt			$ 2,014,321	$ 1,766,783
Secured Debt [Member] \| First Farmers Bank & Trust [Member]
Debt Instrument [Line Items]
Interest rate	5.375%		5.375%
Monthly repayment	$ 57,000		$ 56,832
Maturity date		Oct 2028	Oct 2028
Total debt			$ 4,000,000

Debt (Principal Payments Due on Long-term Debt) (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Year
2021	$ 277,324
2022	646,089
2023	2,450,347
2024	621,010
2025	641,609
Thereafter	4,238,116
Total debt	8,874,495	$ 4,595,207
ACOA AIF Grant [Member]
Year
2021
2022
2023
2024
2025
Thereafter	2,253,595
Total debt	2,253,595
ACOA [Member]
Year
2021	72,977
2022	72,977
2023	72,977
2024	72,977
2025	72,977
Thereafter	197,769
Total debt	562,654
Kubota Canada Ltd [Member]
Year
2021	10,757
2022	10,757
2023	10,757
2024	10,757
2025	897
Thereafter
Total debt	43,925
PEI Finance Term Loan [Member]
Year
2021	76,915
2022	80,049
2023	1,857,357
2024
2025
Thereafter
Total debt	2,014,321
First Farmers Bank & Trust [Member]
Year
2021	116,675
2022	482,306
2023	509,256
2024	537,276
2025	567,735
Thereafter	1,786,752
Total debt	$ 4,000,000

Stockholders' Equity (Narrative) (Details) - USD ($)										1 Months Ended		12 Months Ended
Stockholders' Equity (Narrative) (Details) - USD ($)	Feb. 08, 2021	Dec. 14, 2020	Aug. 17, 2020	Aug. 07, 2020	May 06, 2020	Apr. 17, 2019	Apr. 05, 2019	Mar. 21, 2019	Oct. 24, 2018	Jun. 30, 2019	Jan. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Apr. 28, 2020	Apr. 30, 2019	Apr. 26, 2016
Stockholders' Equity
Authorized shares of common and preferred stock												85,000,000
Authorized shares of preferred stock												5,000,000
Authorized shares of common stock												80,000,000	80,000,000
Issued shares of preferred stock												0	0
Outstanding shares of preferred stock												0	0
Issued shares of common stock												55,497,133	21,635,365
Outstanding shares of common stock												55,497,133	21,635,365
Common stock, voting rights, number of votes per share												one
Value of equity subscription												$ 104,625,615	$ 12,395,348	$ 10,616,046
Common stock issued (in dollars per share)												$ 0.001	$ 0.001
Share-based Compensation
Share-based compensation expense												$ 436,691	$ 872,177	263,396
Share-based compensation												436,691	872,177	263,396
Restricted Stock [Member]
Share-based Compensation
Share-based compensation expense												186,000	385,000	27,000
Unearned share-based compensation expense in future periods												$ 95,000
Unearned share-based compensation earn period												2 years 2 months 12 days
Employee Stock Option [Member]
Share-based Compensation
Share-based compensation expense												$ 251,000	$ 487,000	$ 236,000
Unearned share-based compensation expense in future periods												$ 84,000
Unearned share-based compensation earn period												2 years 6 months
Exercisable term												10 years
Stock option grants (in dollars per share)												$ 1.49	$ 1.62	$ 2.50
Exercised (in shares)												0	0	0
Intrinsic value of options exercised												$ 0	$ 0	$ 0
Intrinsic value of options outstanding												3,600,000	1,000	0
Intrinsic value of exercisable options												$ 3,200,000	$ 1,000	$ 0
Expected volatility														81.00%
Risk free interest rate														2.60%
Expected dividend yield												0.00%	0.00%	0.00%
Expected life (in years)												5 years	5 years	5 years
Minimum [Member] \| Employee Stock Option [Member]
Share-based Compensation
Award vesting period												1 year
Expected volatility												101.00%	89.00%
Risk free interest rate												0.31%	1.55%
Maximum [Member] \| Employee Stock Option [Member]
Share-based Compensation
Award vesting period												3 years
Expected volatility												104.00%	100.00%
Risk free interest rate												1.67%	2.85%
2016 Equity Incentive Plan, Original Grants [Member] \| Restricted Stock [Member]
Share-based Compensation
Shares available for grant																	450,000
2016 Equity Incentive Plan, Additional Grants [Member] \| Restricted Stock [Member]
Share-based Compensation
Shares available for grant															1,000,000	450,000
2016 Equity Incentive Plan [Member] \| Restricted Stock [Member]
Share-based Compensation
Shares available for grant															1,900,000	900,000
2016 Equity Incentive Plan [Member] \| Employee Stock Option [Member]
Share-based Compensation
Shares available for grant												996,767	198,034	268,138
Warrant [Member]
Stockholders' Equity
Shares issued in connection with the exercise of warrants												713,449
Proceeds from issuance or sale of equity													$ 300,000	$ 800,000
Warrants [Abstract]
Exercise price (in dollars per share)												$ 3.25	$ 3.25
Warrant [Member] \| Common Stock [Member]
Stockholders' Equity
Issued (in shares)												713,449
Proceeds from issuance or sale of equity												$ 2,300,000
Accelerated Share-Based Compensation Summary [Member]
Share-based Compensation
Share-based compensation										$ 134,000
Number of options for the Company's former CEO										153,940
Accelerated Share-Based Compensation Summary [Member] \| Former Chief Executive Officer [Member]
Share-based Compensation
Expected volatility										97.00%
Expected dividend yield										0.00%
Accelerated Share-Based Compensation Summary [Member] \| Former Chief Executive Officer [Member] \| Minimum [Member]
Share-based Compensation
Risk free interest rate										1.71%
Expected life (in years)										1 year 6 months
Accelerated Share-Based Compensation Summary [Member] \| Former Chief Executive Officer [Member] \| Maximum [Member]
Share-based Compensation
Risk free interest rate										1.92%
Expected life (in years)										5 years
Accelerated Share-Based Compensation Summary [Member] \| Chief Executive Officer [Member]
Share-based Compensation
Number of options for the Company's former CEO										153,940
Common Stock [Member]
Stockholders' Equity
Value of equity subscription												$ 33,028	$ 6,246	$ 3,692
Issued (in shares)												33,028,000	6,246,360	3,692,307
Shares issued in conjunction with the exercise of warrants														249,824
Shares issued in connection with the exercise of warrants												713,449	83,564	2,500,285
January 2018 Public Offering [Member]
Stockholders' Equity
Proceeds from issuance or sale of equity											$ 10,600,000
January 2018 Public Offering [Member] \| Common Stock [Member]
Stockholders' Equity
Issued (in shares)											3,692,307
January 2018 Public Offering [Member] \| Warrant [Member]
Stockholders' Equity
Issued (in shares)											4,246,153
January 2018 Public Offering [Member] \| Majority Shareholder [Member]
Stockholders' Equity
Proceeds from issuance or sale of equity											$ 5,000,000.0
January 2018 Public Offering [Member] \| Majority Shareholder [Member] \| Common Stock [Member]
Stockholders' Equity
Issued (in shares)											1,538,461
January 2018 Public Offering [Member] \| Majority Shareholder [Member] \| Warrant [Member]
Stockholders' Equity
Issued (in shares)											1,538,461
October 2018 Common Share Offering [Member] \| Common Stock [Member]
Stockholders' Equity
Issued (in shares)									2,250,461
Proceeds from issuance or sale of equity									$ 4,300,000
Common stock issued (in dollars per share)									$ 2.00
October 2018 Common Share Offering [Member] \| Majority Shareholder [Member] \| Warrant [Member] \| Common Stock [Member]
Stockholders' Equity
Issued (in shares)									1,538,461
Proceeds from issuance or sale of equity									$ 3,100,000
March 2019 Public Offering [Member] \| Common Stock [Member]
Stockholders' Equity
Issued (in shares)								3,345,282
Proceeds from issuance or sale of equity								$ 6,600,000
April 2019 Public Offering [Member] \| Common Stock [Member]
Stockholders' Equity
Issued (in shares)							2,554,590
Proceeds from issuance or sale of equity							$ 5,100,000
April 17, 2019 Public Offering [Member] \| Common Stock [Member]
Stockholders' Equity
Issued (in shares)						346,488
Proceeds from issuance or sale of equity						$ 700,000
May 2020 Common Shares Issuance [Member] \| Common Stock [Member]
Stockholders' Equity
Value of equity subscription					$ 41,000
Issued (in shares)					20,000
August 2020 Public Offering [Member] \| Common Stock [Member]
Stockholders' Equity
Issued (in shares)				11,000,000
Proceeds from issuance or sale of equity				$ 25,800,000
Overallotment Exercise [Member] \| Common Stock [Member]
Stockholders' Equity
Issued (in shares)			1,650,000
Proceeds from issuance or sale of equity			$ 3,900,000
December 2020 Public Offering [Member] \| Common Stock [Member]
Stockholders' Equity
Issued (in shares)		10,028,000
Proceeds from issuance or sale of equity		$ 60,400,000
Subsequent Event [Member] \| February 2021 Public Offering [Member] \| Common Stock [Member]
Stockholders' Equity
Issued (in shares)	14,950,000
Proceeds from issuance or sale of equity	$ 119,200,000

Stockholders' Equity (Information About Outstanding Warrants) (Details) - Warrant [Member]	12 Months Ended
	Dec. 31, 2020 $ / shares shares
Number of warrant shares
Outstanding at beginning (in shares) \| shares	1,662,304
Exercised (in shares) \| shares	(713,449)
Outstanding at ending (in shares) \| shares	948,855
Exercisable (in shares) \| shares	948,855
Weighted average exercise price
Outstanding at beginning (in dollars per share) \| $ / shares	$ 3.25
Exercised (in dollars per share) \| $ / shares	3.25
Outstanding at ending (in dollars per share) \| $ / shares	3.25
Exercisable (in dollars per share) \| $ / shares	$ 3.25

Stockholders' Equity (Restricted Stock Activity) (Details) - Restricted Stock [Member]	12 Months Ended
	Dec. 31, 2020 $ / shares shares
Shares
Unvested beginning balance (in shares) \| shares	39,900
Granted (in shares) \| shares	100,319
Vested (in shares) \| shares	(67,566)
Unvested ending balance (in shares) \| shares	72,653
Weighted average grant date fair value
Unvested beginning balance (in dollars per share) \| $ / shares	$ 2.31
Granted (in dollars per share) \| $ / shares	1.88
Vested (in dollars per share) \| $ / shares	2.12
Unvested ending balance (in dollars per share) \| $ / shares	$ 1.90

Stockholders' Equity (Stock Option Activity) (Details) - Employee Stock Option [Member] - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Number of options
Beginning balance (in shares)	573,925
Issued (in shares)	104,458
Exercised (in shares)	0	0	0
Expired (in shares)	(20,969)
Ending balance (in shares)	657,414	573,925
Exercisable (in shares)	598,139
Weighted average exercise price
Beginning balance (in dollars per share)	$ 4.94
Issued (in dollars per share)	1.99
Expired (in dollars per share)	11.04
Ending balance (in dollars per share)	4.28	$ 4.94
Exercisable (in dollars per share)	$ 4.51

Stockholders' Equity (Information About Options Outstanding and Exercisable) (Details) - Employee Stock Option [Member]	12 Months Ended
	Dec. 31, 2020 $ / shares shares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding (in shares)	657,414
Number of options exercisable (in shares)	598,139
Weighted average exercise price of outstanding and exercisable options (in dollars per share) \| $ / shares	$ 4.51
$1.88 - $2.50 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding (in shares)	531,519
Weighted average remaining estimated life (in years)	8 years 3 months 18 days
Number of options exercisable (in shares)	472,244
$3.30 - $6.90 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding (in shares)	33,805
Weighted average remaining estimated life (in years)	1 year 3 months 18 days
Number of options exercisable (in shares)	33,805
$7.50 - $10.80 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding (in shares)	20,503
Weighted average remaining estimated life (in years)	3 years 6 months
Number of options exercisable (in shares)	20,503
$14.20 - $23.40 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding (in shares)	71,587
Weighted average remaining estimated life (in years)	5 years 3 months 18 days
Number of options exercisable (in shares)	71,587
Minimum [Member] \| $1.88 - $2.50 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options (in dollars per share) \| $ / shares	$ 1.88
Minimum [Member] \| $3.30 - $6.90 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options (in dollars per share) \| $ / shares	3.30
Minimum [Member] \| $7.50 - $10.80 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options (in dollars per share) \| $ / shares	7.50
Minimum [Member] \| $14.20 - $23.40 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options (in dollars per share) \| $ / shares	14.20
Maximum [Member] \| $1.88 - $2.50 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options (in dollars per share) \| $ / shares	2.50
Maximum [Member] \| $3.30 - $6.90 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options (in dollars per share) \| $ / shares	6.90
Maximum [Member] \| $7.50 - $10.80 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options (in dollars per share) \| $ / shares	10.80
Maximum [Member] \| $14.20 - $23.40 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average exercise price of outstanding options (in dollars per share) \| $ / shares	$ 23.40

Stockholders' Equity (Stock Option Grants Weighted Average Assumptions) (Details) - Employee Stock Option [Member]	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility			81.00%
Risk free interest rate			2.60%
Expected dividend yield	0.00%	0.00%	0.00%
Expected life (in years)	5 years	5 years	5 years
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	101.00%	89.00%
Risk free interest rate	0.31%	1.55%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	104.00%	100.00%
Risk free interest rate	1.67%	2.85%

Stockholders' Equity (Share-based Compensation Costs Recognized on Financial Statements) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation	$ 436,691	$ 872,177	$ 263,396
Research and development
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation	497	3,127	3,238
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation		12,578
General And Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation	$ 436,194	$ 856,472	$ 260,158

Income Taxes (Narrative) (Details) $ in Millions	Dec. 31, 2020 USD ($)
Domestic Tax Authority
Tax Credit Carryforward [Line Items]
Domestic operating loss carryforwards	$ 27.0
Domestic Tax Authority \| Limitations On Use To Section 382 [Member]
Tax Credit Carryforward [Line Items]
Domestic operating loss carryforwards	56.0
Foreign Tax Authority [Member]
Tax Credit Carryforward [Line Items]
Foreign operating loss carryforwards	10.0
Foreign Tax Authority [Member] \| Research Tax Credit Carryforward
Tax Credit Carryforward [Line Items]
Foreign research and development tax credit carryforwards	$ 2.7

Income Taxes (Components of Loss Before Income Taxes) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Taxes [Abstract]
Domestic	$ (15,768,224)	$ (12,950,725)	$ (9,702,869)
Foreign	(631,761)	(276,917)	(679,190)
Loss before income taxes	$ (16,399,985)	$ (13,227,642)	$ (10,382,059)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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+ Details

Income Taxes (Schedule of Effective Income Tax Rate Reconciliation) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Taxes [Abstract]
Income tax benefit	$ (3,443,997)	$ (2,777,805)	$ (2,180,233)
State and provincial income tax, net of federal benefit	(732,994)	397,081	(534,789)
Permanent differences	131,141	219,549	53,795
US-Foreign rate differential	(142,663)	38,776	(13,955)
Other, net	(145,973)	866,250	1,182,900
Total income tax, prior to change in valuation allowance	(4,334,486)	(1,256,149)	(1,492,282)
Change in valuation allowance	4,334,486	1,256,149	1,492,282
Total income tax

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income Taxes (Components of Deferred Tax Assets and Liabilities) (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Income Taxes [Abstract]
Net operating loss carryforwards	$ 16,964,199	$ 12,251,892
Foreign research and development tax credit carryforwards	2,679,180	2,564,679
Property and equipment	56,697	429,764
Intangibles	3,122,394	3,241,649
Total deferred tax assets	22,822,470	18,487,984
Valuation allowance	(22,822,470)	(18,487,984)
Net deferred tax assets

Commitments and Contingencies (Narrative) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($)
Commitments and Contingencies [Abstract]
Lease expense	$ 86
Lease payment	$ 85
Weighted average remaining lease term	23 years 3 months 18 days

Commitments and Contingencies (Summary of Lease Obligations and Remaining Payments) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2019
Remaining Payments	$ 838,884	$ 923,896
Remaining Payments - Less: current portion	(83,571)	(85,011)
Remaining Payments - Long-term leases	755,313	838,885
Lease Liability	352,810	415,094	$ 532,000
Lease Liability - Less: current portion	$ (62,483)	$ (62,286)
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other Liabilities, Current	Other Liabilities, Current
Lease Liability - Long-term leases	$ 290,327	$ 352,808
Maynard Office Lease [Member]
End Date	Mar 2023
Remaining Years	2 years 3 months 18 days
Remaining Payments	$ 150,918	215,556
Lease Liability	$ 134,099	186,323
Indiana auto lease [Member]
End Date	Feb 2021
Remaining Years	2 months 12 days
Remaining Payments	$ 1,157	5,999
Lease Liability	$ 821	5,533
Indiana well lease [Member]
End Date	Dec 2048
Remaining Years	28 years
Remaining Payments	$ 686,809	702,341
Lease Liability	$ 217,890	$ 223,238

Commitments and Contingencies (Summary of Remaining Payments under Leases) (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
2021	$ 83,571
2022	84,080
2023	33,873
2024	17,481
2025	18,006
Thereafter	601,873
Remaining Payments	838,884	$ 923,896
Office [Member]
Property, Plant and Equipment [Line Items]
2021	66,416
2022	67,602
2023	16,901
2024
2025
Thereafter
Remaining Payments	150,919
Auto [Member]
Property, Plant and Equipment [Line Items]
2021	1,157
2022
2023
2024
2025
Thereafter
Remaining Payments	1,157
Well [Member]
Property, Plant and Equipment [Line Items]
2021	15,998
2022	16,478
2023	16,972
2024	17,481
2025	18,006
Thereafter	601,873
Remaining Payments	$ 686,808

Retirement Plan (Details) - USD ($) $ in Thousands	12 Months Ended
Retirement Plan (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Contribution Plan Disclosure [Line Items]
Employer contributions to retirement plan	$ 72	$ 64	$ 44
Canada Plan
Defined Contribution Plan Disclosure [Line Items]
Employer contributions to retirement plan	$ 32	$ 28	$ 26

Related Party Collaboration Agreement (Details) - Exclusive Channel Collaborations Agreement - Majority Shareholder [Member] - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Feb. 28, 2013
Related Party Transaction [Line Items]
Percentage of gross profits due quarterly to Precigen				16.66%
Percentage of quarterly revenue from sublicensor due to Precigen				50.00%
Service costs incurred	$ 0	$ 218,000	$ 562,000
Service costs included in accounts payable and accrued liabilities	$ 0	$ 1,000

Quarterly Financial Information (Details) - USD ($)	3 Months Ended								12 Months Ended
Quarterly Financial Information (Details) - USD ($)	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Quarterly Financial Information [Abstract]
Revenues	$ 50,197	$ 67,763	$ 2,950	$ 6,753	$ 46,367		$ 42,486	$ 97,885	$ 127,663	$ 186,738	$ 84,518
Operating loss	(6,038,252)	(3,613,158)	(3,504,999)	(3,091,421)	(3,403,639)	$ (2,999,592)	(4,019,719)	(2,755,694)	(16,247,830)	(13,178,644)	(10,365,796)
Net loss	$ (6,116,895)	$ (3,649,788)	$ (3,523,684)	$ (3,109,618)	$ (3,418,757)	$ (3,018,222)	$ (4,026,731)	$ (2,763,932)	$ (16,399,985)	$ (13,227,642)	$ (10,382,059)
Basic and diluted net loss per share attributable to common shareholders	$ (0.13)	$ (0.09)	$ (0.11)	$ (0.11)	$ (0.16)	$ (0.14)	$ (0.19)	$ (0.17)	$ (0.45)	$ (0.66)	$ (0.94)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

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+ Details

Subsequent Events (Details) - Subsequent Event [Member]	Feb. 08, 2021 USD ($) shares	Feb. 25, 2021 CAD ($)	Feb. 25, 2021 USD ($)
Department Of Fisheries And Oceans [Member]
Subsequent Event [Line Items]
Claim for reimbursement		$ 238,400	$ 184,760
February 2021 Public Offering [Member] \| Common Stock [Member]
Subsequent Event [Line Items]
Issued (in shares) \| shares	14,950,000
Net proceeds from offering \| $	$ 119,200,000