Kernel Group Holdings, Inc. Cashflow Statement

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated Statements of Cash Flows

In millions of USD, except per-share amounts

	FY2023 12 months to Dec 31, 2023	FY2022 12 months to Dec 31, 2022	FY2021 12 months to Dec 31, 2021
Cash Flows from Operating Activities:
Net (loss) income
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Income from cash and investments held in Trust Account
Offering costs associated with issuance of warrants
Interest expense - amortization of debt discount
Unrealized loss (gain) from change in fair value of warrant liabilities
Loss on issuance of Private Placement Warrants
Unrealized loss on fair value of derivative liabilities - forward purchase agreement
Gain on waiver of deferred underwriting commissions by underwriter allocated to Public Warrants
Changes in operating assets and liabilities:
Prepaid expenses
Accounts payable
Accrued expenses and other current liabilities
Accrued expenses - related party
Net cash used in operating activities
Cash Flows from Investing Activities:
Cash deposited in Trust Account
Advances to Trust Account
Proceeds from Trust Account for payment to redeeming shareholders
Net cash provided by investing activities
Cash Flows from Financing Activities:
Proceeds from promissory note - related party
Repayment of note payable to related party
Gross proceeds from initial public offering
Proceeds received from private placement
Proceeds from convertible promissory note
Payment to redeeming shareholders
Offering costs paid
Net cash used in financing activities
Net Change in Cash
Cash - Beginning of the year
Cash - End of the year
Deferred offering costs included in accounts payable
Deferred offering costs included in note payable
Deferred offering costs included in accrued expenses
Prepaid expenses paid by related party under promissory note
Prepaid expenses paid by Sponsor in exchange for issuance of Class B ordinary shares
Offering costs included in accrued expenses
Deferred underwriting commissions
Non-cash investing and financing activities:
Waiver of deferred underwriting commissions by underwriter

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