American Virtual Cloud Technologies, Inc.

2023 Q2 Form 10-Q Financial Statement

#000121390023038730 Filed on May 12, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q4

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $13.33M $12.63M
YoY Change -36.76% -59.42%
Cash & Equivalents $13.33M $12.63M
Short-Term Investments
Other Short-Term Assets $4.820M $6.385M
YoY Change -1.99% -78.64%
Inventory
Prepaid Expenses $4.820M $6.385M
Receivables $4.395M $6.217M
Other Receivables $0.00 $0.00
Total Short-Term Assets $23.41M $26.40M
YoY Change -33.96% -62.37%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00 $4.784M
YoY Change -100.0% 0.65%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $723.0K
YoY Change -100.0% -43.03%
Total Long-Term Assets $0.00 $5.507M
YoY Change -100.0% -88.47%
TOTAL ASSETS
Total Short-Term Assets $23.41M $26.40M
Total Long-Term Assets $0.00 $5.507M
Total Assets $23.41M $31.91M
YoY Change -55.46% -72.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $807.0K $2.980M
YoY Change -77.46% -19.28%
Accrued Expenses $4.416M $4.818M
YoY Change -43.03% -53.93%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $0.00 $2.315M
YoY Change -100.0% -91.23%
Total Short-Term Liabilities $5.606M $11.10M
YoY Change -73.91% -85.71%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $2.314M
YoY Change 20936.36%
Other Long-Term Liabilities $5.606M $441.0K
YoY Change -86.79%
Total Long-Term Liabilities $5.606M $2.314M
YoY Change -86.79% -94.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.606M $11.10M
Total Long-Term Liabilities $5.606M $2.314M
Total Liabilities $12.83M $13.42M
YoY Change -79.92% -88.53%
SHAREHOLDERS EQUITY
Retained Earnings -$253.6M -$243.6M
YoY Change 19.53%
Common Stock $3.000K $3.000K
YoY Change -66.67%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $10.58M $18.49M
YoY Change
Total Liabilities & Shareholders Equity $23.41M $31.91M
YoY Change -55.46% -72.94%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q4

Facts In Submission

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CY2023Q1 avct Reverse Stock Split And Stock Exchange Description
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On September 30, 2022, the Company filed a Certificate of Amendment of the Company’s Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware (the “Certificate of Amendment”), which effected, upon filing on September 30, 2022 (the “Effective Stock Split Date”), a one-for-fifteen reverse stock split (the “Reverse Stock Split”) of the Company’s issued and outstanding shares of common stock.
CY2023Q1 us-gaap Concentration Risk Credit Risk
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Concentration of business and credit risk</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial instruments, which potentially subject the Company to concentrations of credit risk, consist primarily of cash and trade receivables. Cash held by the Company, in financial institutions, regularly exceeds the federally insured limit of $250. At March 31, 2023, cash balances held with a financial institution exceeded the federally insured limit by $12,576. However, management does not believe this poses a significant credit risk. During the three months ended March 31, 2022, no vendor accounted for more than 10% of cost of revenue. Additional concentration of business risks are summarized in the following table:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">March 31, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Number of<br/> customers or<br/> vendors</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Aggregate<br/> total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Number of<br/> customers or<br/> vendors</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Aggregate<br/> total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left; text-indent: -0.125in; padding-left: 0.125in">Customers that individually accounted for 10% or more of trade accounts receivable</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: center">3</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">4,395</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: center">3</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">6,217</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -0.125in; padding-left: 0.125in">Vendors that individually accounted for 10% or more of trade accounts payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: center">4</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,697</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: center">2</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,139</td><td style="text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Three Months Ended</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">March 31, <br/> 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 76%; text-align: left">Number of customers that individually accounted for 10% or more of sales from continuing operations</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">  4</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">4</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Aggregate total sales of customers that individually accounted for 10% or more of sales from continuing operations</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,118</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,815</td><td style="text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
CY2023Q1 us-gaap Cash
Cash
13260000 usd
CY2023Q1 avct Payables To Debtor Entities
PayablesToDebtorEntities
17400000 usd
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Use of estimates</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of sales (or revenues) and expenses during the reporting period.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Making estimates requires management to exercise significant judgment. It is at least reasonably possible that estimates made as of the date of the financial statements could change in the near term due to one or more future events. Accordingly, the actual results could differ significantly from those estimates. Significant accounting estimates reflected in the Company’s condensed consolidated financial statements include, but are not limited to, revenue recognition, allowance for doubtful accounts, accounting for warrants, recognition and measurement of income tax assets, valuation of share-based compensation, discount related to the fair value of warrants, and the valuation of net assets acquired.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b><i> </i></b></p>
CY2023Q1 avct Cash Balances
CashBalances
12576 usd
CY2023Q1 avct Percentage Of Cost Of Revenue
PercentageOfCostOfRevenue
0.10 pure
CY2023Q1 avct Trade Accounts Receivable Percentage
TradeAccountsReceivablePercentage
0.10 pure
CY2022Q1 avct Trade Accounts Receivable Percentage
TradeAccountsReceivablePercentage
0.10 pure
CY2023Q1 avct Number Of Customers
NumberOfCustomers
3 pure
CY2023Q1 us-gaap Trade Receivables Held For Sale Amount
TradeReceivablesHeldForSaleAmount
4395000 usd
CY2022Q1 avct Number Of Customers
NumberOfCustomers
3 pure
CY2022Q1 us-gaap Trade Receivables Held For Sale Amount
TradeReceivablesHeldForSaleAmount
6217000 usd
CY2023Q1 avct Trade Accounts Payable Percentage
TradeAccountsPayablePercentage
0.10 pure
CY2022Q1 avct Trade Accounts Payable Percentage
TradeAccountsPayablePercentage
0.10 pure
CY2023Q1 avct Number Of Vendor
NumberOfVendor
4 pure
CY2023Q1 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
3697000 usd
CY2022Q1 avct Number Of Vendor
NumberOfVendor
2 pure
CY2022Q1 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
3139000 usd
CY2023Q1 avct Customers Sales From Continuing Operations
CustomersSalesFromContinuingOperations
0.10 pure
CY2022Q1 avct Customers Sales From Continuing Operations
CustomersSalesFromContinuingOperations
0.10 pure
CY2023Q1 avct Number Of Customerf Sales From Continuing Operations
NumberOfCustomerfSalesFromContinuingOperations
4 pure
CY2022Q1 avct Number Of Customerf Sales From Continuing Operations
NumberOfCustomerfSalesFromContinuingOperations
4 pure
CY2023Q1 avct Aggregate Sales From Continuing Operations Percentage
AggregateSalesFromContinuingOperationsPercentage
0.10 pure
CY2022Q1 avct Aggregate Sales From Continuing Operations Percentage
AggregateSalesFromContinuingOperationsPercentage
0.10 pure
CY2023Q1 avct Aggregate Sales From Continuing Operations
AggregateSalesFromContinuingOperations
3118000 usd
CY2022Q1 avct Aggregate Sales From Continuing Operations
AggregateSalesFromContinuingOperations
2815000 usd
CY2023Q1 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
362 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
471 usd
CY2023Q1 us-gaap Legal Fees
LegalFees
2720000 usd
CY2023Q1 avct Committee Of Unsecured Creditors Expense
CommitteeOfUnsecuredCreditorsExpense
348000 usd
CY2023Q1 us-gaap Trustee Fees
TrusteeFees
34000 usd
CY2023Q1 avct Total Reorgansiation
TotalReorgansiation
3102000 usd
CY2023Q1 avct Reorganization Expenses Paid
ReorganizationExpensesPaid
190 usd
CY2023Q1 avct Gross Poceeds
GrossPoceeds
6780 usd
CY2023Q1 avct Contracts Cure Costs
ContractsCureCosts
500 usd
CY2023Q1 avct Gross Proceed
GrossProceed
7280000 usd
CY2023Q1 avct Expenses Deducted
ExpensesDeducted
-1141000 usd
CY2023Q1 avct Netproceedsfromsaleofassets
Netproceedsfromsaleofassets
6139000 usd
CY2023Q1 avct Fixed Assets
FixedAssets
4354000 usd
CY2023Q1 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
770000 usd
CY2023Q1 us-gaap Other Assets
OtherAssets
213000 usd
CY2023Q1 avct Totalassetssold
Totalassetssold
5337000 usd
CY2023Q1 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
802000 usd
CY2023Q1 avct Net Sale Proceeds
NetSaleProceeds
32112 usd
CY2023Q1 us-gaap Loans And Leases Receivable Deferred Income
LoansAndLeasesReceivableDeferredIncome
41000 usd
CY2023Q1 us-gaap Lease Cost
LeaseCost
132000 usd
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
98000 usd
CY2023Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
34000 usd
CY2023Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
36000 usd
CY2023Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
807000 usd
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
2980000 usd
CY2023Q1 avct Accrued Compensation Benefits And Related Accruals
AccruedCompensationBenefitsAndRelatedAccruals
1552000 usd
CY2022Q4 avct Accrued Compensation Benefits And Related Accruals
AccruedCompensationBenefitsAndRelatedAccruals
3637000 usd
CY2023Q1 us-gaap Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
2549000 usd
CY2022Q4 us-gaap Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
1181000 usd
CY2022Q4 avct Due To Related Party Current And Noncurrent
DueToRelatedPartyCurrentAndNoncurrent
500000 usd
CY2023Q1 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
315000 usd
CY2022Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
260000 usd
CY2023Q1 us-gaap Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
383000 usd
CY2022Q4 us-gaap Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
93000 usd
CY2023Q1 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
5606000 usd
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
8651000 usd
CY2021Q4 avct Term Loan Credit Facilitiy
TermLoanCreditFacilitiy
27000000 usd
CY2022Q1 avct Amendment Fees
AmendmentFees
920000 usd
CY2023Q1 avct Guaranteed A Minimum Return Amount
GuaranteedAMinimumReturnAmount
7290000 usd
CY2023Q1 us-gaap Administrative Fees Expense
AdministrativeFeesExpense
675000 usd
CY2023Q1 avct Exercise Price Of The Warrant
ExercisePriceOfTheWarrant
0.0015 shares
CY2023Q1 avct Common Stock At A Price Per Share
CommonStockAtAPricePerShare
23460
CY2023Q1 avct Aggregate Shares Percentage
AggregateSharesPercentage
0.025 pure
CY2023Q1 avct Warrants Exercisable As Of123121
WarrantsExercisableAsOf123121
1,061,632
CY2022Q4 us-gaap Notes Payable
NotesPayable
2430000 usd
CY2023Q1 avct Promissory Note Description
PromissoryNoteDescription
(i) March 31, 2023; (ii) a sale transaction by the Company requiring shareholder approval, including a transfer of a majority of the Company’s capital stock or (iii) a payment default by the Company. The promissory note is unsecured and bears interest at a rate of 6% per annum, compounded semi-annually. Additionally, the amended agreement provided for a $400 monthly prepayment towards actual costs incurred. Any excess of that prepayment over actual costs resulted in a reduction of the promissory note balance, while any excess of actual costs over the $400 monthly payment was added to such promissory note. The note payable balance as of March 31, 2023 and December 31, 2022 was $2,336 and $2,315, respectively. In April 2023, a total of $2,271 of the note payable balance was repaid.
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2023Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q1 avct Common Stock Vote Per Share
CommonStockVotePerShare
1 pure
CY2023Q1 us-gaap Excess Stock Shares Outstanding
ExcessStockSharesOutstanding
33532473 shares
CY2023Q1 us-gaap Excess Stock Shares Issued
ExcessStockSharesIssued
33532473 shares
CY2022Q2 avct Due To A Related Party
DueToARelatedParty
900000 usd
CY2022Q2 avct Monthly Payment Amount To Be Paid The Related Party Payable
MonthlyPaymentAmountToBePaidTheRelatedPartyPayable
100000 usd
CY2022Q1 avct Related Party Transaction Selling General And Administrative Expenses From Transaction
RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransaction
150000 usd
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Noncurrent
AccountsPayableAndAccruedLiabilitiesNoncurrent
500000 usd
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
180000 usd
CY2022Q1 avct Revenue From Related Party
RevenueFromRelatedParty
62000 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.3
CY2022Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-2.47
CY2022Q1 avct Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share1
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare1
0.13
CY2023Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.3
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
328997 shares
CY2023Q1 avct Total Expense
TotalExpense
1358000 usd
CY2022Q1 avct Total Expense
TotalExpense
1376000 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-10005000 usd
CY2022Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-14626000 usd
CY2022Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
748000 usd
CY2023Q1 avct Net Loss
NetLoss
-10005000 usd
CY2022Q1 avct Net Loss
NetLoss
-13878000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33331942 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5929288 shares
CY2022Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-2.34
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1811358 shares
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6667060 shares
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.0066 pure
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.0004 pure
CY2023Q1 dei Entity Registrant Name
EntityRegistrantName
American Virtual Cloud Technologies, Inc.
CY2022Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
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CY2023Q1 us-gaap Preferred Stock Value
PreferredStockValue
usd
CY2022Q4 us-gaap Preferred Stock Value
PreferredStockValue
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CY2023Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
shares
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33331942 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5929288 shares
CY2022Q1 us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
usd
CY2023Q1 us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
usd
CY2023Q1 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
usd
CY2022Q1 us-gaap Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
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CY2022Q1 us-gaap Proceeds From Sales Of Assets Investing Activities
ProceedsFromSalesOfAssetsInvestingActivities
usd
CY2023Q1 avct Deferred Development Costs
DeferredDevelopmentCosts
usd
CY2023Q1 avct Proceedsfrom Payment Of Taxes From Withheld Share
ProceedsfromPaymentOfTaxesFromWithheldShare
usd
CY2023Q1 us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
usd
CY2023Q1 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
usd
CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
usd
CY2023Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
usd
CY2023Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
usd
CY2023Q1 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
usd
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
usd
CY2023Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
shares
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33331942 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5929288 shares
CY2023Q1 dei Amendment Flag
AmendmentFlag
false
CY2023Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2023Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2023Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001704760

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