2023 Q2 Form 10-Q Financial Statement

#000121390023038897 Filed on May 12, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $50.00K $170.0K $100.0K
YoY Change -28.57% 70.0%
Cash & Equivalents $49.75K $167.8K $101.8K
Short-Term Investments
Other Short-Term Assets $180.0K $230.0K
YoY Change
Inventory
Prepaid Expenses $177.1K $233.3K
Receivables
Other Receivables
Total Short-Term Assets $226.9K $401.1K $100.0K
YoY Change 224.13% 301.07%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $55.38M $54.49M
YoY Change
Other Assets $150.0K
YoY Change
Total Long-Term Assets $55.38M $54.49M $150.0K
YoY Change 30664.08% 36223.76%
TOTAL ASSETS
Total Short-Term Assets $226.9K $401.1K $100.0K
Total Long-Term Assets $55.38M $54.49M $150.0K
Total Assets $55.60M $54.89M $250.0K
YoY Change 22140.9% 21854.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $612.6K $560.0K $40.00K
YoY Change 1431.38% 1300.01%
Deferred Revenue
YoY Change
Short-Term Debt $600.0K $360.0K $200.0K
YoY Change 200.0% 80.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $23.97M $1.084M $240.0K
YoY Change 9886.89% 351.73%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.110M $2.110M
YoY Change
Total Long-Term Liabilities $2.110M $2.110M $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $23.97M $1.084M $240.0K
Total Long-Term Liabilities $2.110M $2.110M $0.00
Total Liabilities $26.13M $3.237M $240.0K
YoY Change 10785.7% 1248.64%
SHAREHOLDERS EQUITY
Retained Earnings -$3.399M -$93.26K
YoY Change
Common Stock $166.00 $166.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$3.399M $1.019M $13.75K
YoY Change
Total Liabilities & Shareholders Equity $55.60M $54.89M $250.0K
YoY Change 22140.9% 21854.68%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1

Facts In Submission

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CY2023Q1 dei Entity Registrant Name
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Qomolangma Acquisition Corp.
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Use of Estimates</b></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">In preparing these unaudited financial statements in conformity with U.S. GAAP, the Company’s management makes 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 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 the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
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CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q1 us-gaap Common Stock Voting Rights
CommonStockVotingRights
one
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
1437500 shares
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
1437500 shares
CY2022Q4 us-gaap Stock Issued During Period Shares Share Based Compensation Forfeited
StockIssuedDuringPeriodSharesShareBasedCompensationForfeited
119250 shares
CY2022Q4 us-gaap Excess Stock Shares Issued
ExcessStockSharesIssued
1662623 shares
CY2022Q4 us-gaap Excess Stock Shares Outstanding
ExcessStockSharesOutstanding
1662623 shares
CY2023Q1 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
5273000 shares
CY2023Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2023Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001894210
CY2023Q1 qomo Redeem The Outstanding Warrants
RedeemTheOutstandingWarrants
●in whole and not in part; ●at a price of $0.01 per warrant;   ●upon a minimum of 30 days’ prior written notice of redemption, which the Company refers to as the 30-day redemption period;    ●if, and only if, the last reported sale price of the Company’s common stock equals or exceeds $18.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading day period ending on the third trading day prior to the date on which the Company sends the notice of redemption to the to the warrant holders.  
CY2023Q1 us-gaap Marketable Securities Noncurrent
MarketableSecuritiesNoncurrent
54485634 usd
CY2022Q4 us-gaap Marketable Securities Noncurrent
MarketableSecuritiesNoncurrent
53958681 usd
CY2022Q1 us-gaap Interest Income Securities Other Us Government
InterestIncomeSecuritiesOtherUSGovernment
usd
CY2022Q1 qomo Deferred Tax Provision
DeferredTaxProvision
usd
CY2022Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
usd
CY2022Q1 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
usd
CY2022Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
usd
CY2022Q1 us-gaap Increase Decrease In Property And Other Taxes Payable
IncreaseDecreaseInPropertyAndOtherTaxesPayable
usd
CY2022Q1 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
usd
CY2022Q1 qomo Cash From Trust Account To Pay Franchise Tax
CashFromTrustAccountToPayFranchiseTax
usd
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
usd
CY2023Q1 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
usd
CY2022Q1 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
usd
CY2023Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
usd
CY2022Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
usd
CY2022Q1 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
usd
CY2022Q1 us-gaap Interest Costs Incurred
InterestCostsIncurred
usd
CY2022Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
usd
CY2023Q1 dei Amendment Flag
AmendmentFlag
false
CY2023Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31

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0001213900-23-038897.txt Edgar Link pending
0001213900-23-038897-xbrl.zip Edgar Link pending
f10q0323ex31-1_qomolangma.htm Edgar Link pending
f10q0323ex31-2_qomolangma.htm Edgar Link pending
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f10q0323_qomolangma.htm Edgar Link pending
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qomo-20230331.xsd Edgar Link pending
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qomo-20230331_cal.xml Edgar Link unprocessable
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qomo-20230331_pre.xml Edgar Link unprocessable
f10q0323_qomolangma_htm.xml Edgar Link completed
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