$ABL
Abacus Life, Inc.

2022 Q1 Form 10-Q Financial Statement

#000156459022025641 Filed on July 13, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue $1.420M
YoY Change
Gross Profit $8.460M
YoY Change
Gross Profit Margin
Selling, General & Admin $1.270M
YoY Change
% of Gross Profit 15.01%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00
YoY Change
% of Gross Profit 0.0%
Operating Expenses $298.3K $245.2K
YoY Change 21.67%
Operating Profit $8.162M
YoY Change
Interest Expense $9.682M $11.03M
YoY Change -12.25%
% of Operating Profit 118.63%
Other Income/Expense, Net $9.682M $11.03M
YoY Change -12.25%
Pretax Income $9.384M $10.79M
YoY Change -13.02%
Income Tax $180.0K
% Of Pretax Income 1.92%
Net Earnings $9.384M $10.79M
YoY Change -13.02%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share $217.6K $250.2K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $624.9K $317.4K
YoY Change 96.88%
Cash & Equivalents $624.9K $317.4K
Short-Term Investments
Other Short-Term Assets $119.7K $247.9K
YoY Change -51.72%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $744.6K $565.3K
YoY Change 31.71%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $345.0M $345.0M
YoY Change 0.0%
Other Assets
YoY Change
Total Long-Term Assets $345.0M $345.0M
YoY Change 0.0%
TOTAL ASSETS
Total Short-Term Assets $744.6K $565.3K
Total Long-Term Assets $345.0M $345.0M
Total Assets $345.8M $345.6M
YoY Change 0.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.500M
YoY Change
Accrued Expenses $190.0K $127.3K
YoY Change 49.18%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $7.558M $33.88M
YoY Change -77.69%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $12.08M
YoY Change
Total Long-Term Liabilities $12.08M $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $7.558M $33.88M
Total Long-Term Liabilities $12.08M $0.00
Total Liabilities $19.63M $33.88M
YoY Change -42.06%
SHAREHOLDERS EQUITY
Retained Earnings -$18.88M -$33.31M
YoY Change -43.33%
Common Stock $24.14K $24.14K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$18.85M -$33.29M
YoY Change
Total Liabilities & Shareholders Equity $345.8M $345.6M
YoY Change 0.05%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income $9.384M $10.79M
YoY Change -13.02%
Depreciation, Depletion And Amortization $0.00
YoY Change
Cash From Operating Activities -$280.6K -$272.3K
YoY Change 3.06%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $52.40K
YoY Change
Cash From Investing Activities $52.40K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.860M
YoY Change
NET CHANGE
Cash From Operating Activities -280.6K -272.3K
Cash From Investing Activities 52.40K
Cash From Financing Activities 3.860M
Net Change In Cash -228.2K -272.3K
YoY Change -16.18%
FREE CASH FLOW
Cash From Operating Activities -$280.6K -$272.3K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2022Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
45727
CY2021Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-13968
CY2022Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
60750
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
10788946
CY2021Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
46292
CY2022Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-298294
CY2022Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-8093425
CY2021Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-8629000
CY2022Q1 eresu Change In Fair Value Of Forward Purchase Agreement Liability
ChangeInFairValueOfForwardPurchaseAgreementLiability
-1550000
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
9383814
CY2021Q1 eresu Change In Fair Value Of Forward Purchase Agreement Liability
ChangeInFairValueOfForwardPurchaseAgreementLiability
-2400000
CY2022Q1 us-gaap Interest Income Other
InterestIncomeOther
18
CY2021Q1 us-gaap Interest Income Other
InterestIncomeOther
11
CY2022Q1 eresu Interest Earned On Marketable Securities Held In Trust Account
InterestEarnedOnMarketableSecuritiesHeldInTrustAccount
38665
CY2021Q1 eresu Interest Earned On Marketable Securities Held In Trust Account
InterestEarnedOnMarketableSecuritiesHeldInTrustAccount
5096
CY2022Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
9682108
CY2021Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
11034107
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
9383814
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
10788946
CY2022Q1 eresu Public Warrants Expiration Term After Completion Of Business Combination
PublicWarrantsExpirationTermAfterCompletionOfBusinessCombination
P5Y
CY2022Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2022Q1 us-gaap Liabilities
Liabilities
19633356
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
10788946
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
-28237411
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
-18853597
CY2022Q1 us-gaap Profit Loss
ProfitLoss
9383814
CY2021Q1 us-gaap Profit Loss
ProfitLoss
10788946
CY2022Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-8093425
CY2021Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-8629000
CY2022Q1 eresu Change In Fair Value Of Forward Purchase Agreement Liability
ChangeInFairValueOfForwardPurchaseAgreementLiability
-1550000
CY2021Q1 eresu Change In Fair Value Of Forward Purchase Agreement Liability
ChangeInFairValueOfForwardPurchaseAgreementLiability
-2400000
CY2022Q1 eresu Amortization Of Prepaid Insurance
AmortizationOfPrepaidInsurance
32671
CY2021Q1 eresu Amortization Of Prepaid Insurance
AmortizationOfPrepaidInsurance
33125
CY2022Q1 eresu Interest Earned On Marketable Securities Held In Trust Account
InterestEarnedOnMarketableSecuritiesHeldInTrustAccount
38665
CY2021Q1 eresu Interest Earned On Marketable Securities Held In Trust Account
InterestEarnedOnMarketableSecuritiesHeldInTrustAccount
5096
CY2022Q1 eresu Non Redeemable Common Stock Net Income Loss Available To Common Stockholders Basic
NonRedeemableCommonStockNetIncomeLossAvailableToCommonStockholdersBasic
1876763
CY2021Q1 eresu Non Redeemable Common Stock Net Income Loss Available To Common Stockholders Basic
NonRedeemableCommonStockNetIncomeLossAvailableToCommonStockholdersBasic
2157789
CY2022Q1 eresu Non Redeemable Common Stock Weighted Average Number Of Share Outstanding Basic And Diluted
NonRedeemableCommonStockWeightedAverageNumberOfShareOutstandingBasicAndDiluted
8625000
CY2021Q1 eresu Non Redeemable Common Stock Weighted Average Number Of Share Outstanding Basic And Diluted
NonRedeemableCommonStockWeightedAverageNumberOfShareOutstandingBasicAndDiluted
8625000
CY2022Q1 eresu Non Redeemable Common Stock Income Loss From Continuing Operations Per Basic And Diluted Share
NonRedeemableCommonStockIncomeLossFromContinuingOperationsPerBasicAndDilutedShare
0.22
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-280628
CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-272285
CY2022Q1 eresu Trust Account Withdrawal
TrustAccountWithdrawal
-52400
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
52400
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-228228
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-272285
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
853130
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
589685
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
624902
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
317400
CY2020Q3 us-gaap Deposit Assets
DepositAssets
45000000
CY2020Q3 us-gaap Common Stock Held In Trust
CommonStockHeldInTrust
345000000
CY2020Q3 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
19840171
CY2020Q3 us-gaap Expense Related To Distribution Or Servicing And Underwriting Fees
ExpenseRelatedToDistributionOrServicingAndUnderwritingFees
6900000
CY2020Q3 eresu Deferred Underwriting Fees
DeferredUnderwritingFees
12075000
CY2020Q3 eresu Other Offering Costs
OtherOfferingCosts
865171
CY2022Q1 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0
CY2021Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0
CY2022Q1 eresu Business Combination Terms And Description
BusinessCombinationTermsAndDescription
The Company will have until July 27, 2022 to complete a Business Combination (the “Combination Period”). If the Company is unable to complete a Business Combination within the Combination Period, the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but no more than 10 business days thereafter, redeem 100% of the outstanding Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding Public Shares, which redemption will completely extinguish public stockholders’ rights as stockholders (including the right to receive further liquidation distributions, if any), and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the remaining stockholders and the Company’s board of directors, dissolve and liquidate, subject in each case to its obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law.
CY2022Q1 eresu Percentage Of Redemption Of Company S Outstanding Public Shares
PercentageOfRedemptionOfCompanySOutstandingPublicShares
1
CY2022Q1 us-gaap Cash
Cash
624902
CY2022Q1 eresu Working Capital
WorkingCapital
945375
CY2022Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2021Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2022Q1 us-gaap Common Stock Voting Rights
CommonStockVotingRights
one vote
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
9383814
CY2022Q1 eresu Obligation To Settle Public Warrant Exercise
ObligationToSettlePublicWarrantExercise
0
CY2022Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-align:justify;margin-bottom:0pt;margin-top:10pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:10pt;text-indent:3.32%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of condensed 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 revenues and expenses during the reporting periods.</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:10pt;text-indent:3.32%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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>
CY2022Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Concentration of Credit Risk</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:10pt;text-indent:3.32%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed the Federal Depository Insurance Coverage of $250,000. The Company has not experienced losses on this account and management believes the Company is not exposed to significant risks on such account.</p>
CY2022Q1 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000
CY2022Q1 eresu Number Of Fractional Shares Issued Upon Exercise Of Public Warrants
NumberOfFractionalSharesIssuedUponExerciseOfPublicWarrants
0
CY2022Q1 eresu Public Warrants Exercisable Period After Completion Of Business Combination
PublicWarrantsExercisablePeriodAfterCompletionOfBusinessCombination
P30D
CY2022Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2022Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2021Q1 eresu Non Redeemable Common Stock Income Loss From Continuing Operations Per Basic And Diluted Share
NonRedeemableCommonStockIncomeLossFromContinuingOperationsPerBasicAndDilutedShare
0.25
CY2022Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="text-align:justify;margin-bottom:0pt;margin-top:10pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Reclassification</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:10pt;text-indent:0%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Certain prior period amounts have been reclassified to conform to current presentation.</p>
CY2022Q1 eresu Public Warrants Exercisable Period From Closing Of Proposed Offering
PublicWarrantsExercisablePeriodFromClosingOfProposedOffering
P12M
CY2020Q3 us-gaap Sale Of Stock Transaction Date
SaleOfStockTransactionDate
2020-08-25
CY2020Q3 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
10.00
CY2020Q2 eresu Minimum Commencement Period
MinimumCommencementPeriod
P150D
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
0
CY2022Q1 us-gaap Administrative Fees Expense
AdministrativeFeesExpense
60000
CY2021Q1 us-gaap Administrative Fees Expense
AdministrativeFeesExpense
60000
CY2022Q1 eresu Warrant Conversion Price
WarrantConversionPrice
1.50
CY2022Q1 us-gaap Debt Conversion Description
DebtConversionDescription
The Company believes that the likelihood of the Sponsor’s exercise of the option to convert the Note to warrants is de minimis. As a result, the Company recorded zero liability related to the conversion option.
CY2022Q1 eresu Proceeds From Working Capital Loan Related Party
ProceedsFromWorkingCapitalLoanRelatedParty
1500000
CY2021 eresu Proceeds From Working Capital Loan Related Party
ProceedsFromWorkingCapitalLoanRelatedParty
1500000
CY2022Q1 eresu Loans From Sponsor For Working Capital Purpose
LoansFromSponsorForWorkingCapitalPurpose
0
CY2020Q2 eresu Sponsor Agreed Loan
SponsorAgreedLoan
300000
CY2020Q3 us-gaap Repayment Of Notes Receivable From Related Parties
RepaymentOfNotesReceivableFromRelatedParties
97126
CY2020Q3 us-gaap Due From Related Parties
DueFromRelatedParties
265763
CY2020Q3 us-gaap Repayment Of Notes Receivable From Related Parties
RepaymentOfNotesReceivableFromRelatedParties
265763
CY2022Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2022Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2021Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2022Q1 eresu Class Of Warrant Or Right Warrants Exercisable
ClassOfWarrantOrRightWarrantsExercisable
0
CY2022Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.01
CY2022Q1 eresu Minimum Period Prior Written Notice Of Redemption To Each Warrant Holder
MinimumPeriodPriorWrittenNoticeOfRedemptionToEachWarrantHolder
P30D
CY2022Q1 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
18.00
CY2022Q1 eresu Adjusted Percentage Of Higher Of The Market Value And The Newly Issued Price For Redemption Of Warrants For Cash
AdjustedPercentageOfHigherOfTheMarketValueAndTheNewlyIssuedPriceForRedemptionOfWarrantsForCash
1
CY2020Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
13046000
CY2021Q1 eresu Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Change In Fair Value Of Warrants
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityChangeInFairValueOfWarrants
-2937000
CY2021Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases
-2400000
CY2021Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
7709000
CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
1600000
CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases
-1550000
CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
50000
CY2022Q1 eresu Redemption Price Per Share
RedemptionPricePerShare
10.00
CY2022Q1 us-gaap Preferred Stock Value
PreferredStockValue
CY2022Q1 eresu Forward Purchase Agreement Liability Noncurrent
ForwardPurchaseAgreementLiabilityNoncurrent
50000
CY2022Q1 eresu Warrant Liability Noncurrent
WarrantLiabilityNoncurrent
5818375
CY2022Q1 us-gaap Deferred Income Noncurrent
DeferredIncomeNoncurrent
12075000
CY2022Q1 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
1500000
CY2022Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2022Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2022Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2022Q1 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
24137
CY2022Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-18878597
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
-18853597
CY2022Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
345779759
CY2022Q1 eresu Formation And Operating Costs
FormationAndOperatingCosts
298294
CY2021Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-245161

Files In Submission

Name View Source Status
0001564590-22-025641-index-headers.html Edgar Link pending
0001564590-22-025641-index.html Edgar Link pending
0001564590-22-025641.txt Edgar Link pending
0001564590-22-025641-xbrl.zip Edgar Link pending
eresu-10q_20220331.htm Edgar Link pending
eresu-10q_20220331_htm.xml Edgar Link completed
eresu-20220331.xsd Edgar Link pending
eresu-20220331_cal.xml Edgar Link unprocessable
eresu-20220331_def.xml Edgar Link unprocessable
eresu-20220331_lab.xml Edgar Link unprocessable
eresu-20220331_pre.xml Edgar Link unprocessable
eresu-ex101_10.htm Edgar Link pending
eresu-ex311_8.htm Edgar Link pending
eresu-ex312_6.htm Edgar Link pending
eresu-ex321_7.htm Edgar Link pending
eresu-ex322_9.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending