$ADN
ADVENT TECHNOLOGIES HOLDINGS, INC.

2020 Form 10-K Financial Statement

#000114036121010321 Filed on March 26, 2021

View on sec.gov

Income Statement

Concept 2020 2019 Q4 2019
Revenue $731.9K $0.00 $0.00
YoY Change
Cost Of Revenue $513.8K $400.0K
YoY Change 28.45% 100.0%
Gross Profit $368.8K $220.0K
YoY Change 67.65% 29.41%
Gross Profit Margin 50.4%
Selling, General & Admin $3.547M $50.00K $260.0K
YoY Change 1264.18% -69.77%
% of Gross Profit 961.64% 118.18%
Research & Development $102.5K $120.0K
YoY Change -14.55% 20.0%
% of Gross Profit 27.8% 54.55%
Depreciation & Amortization $20.00K $20.00K
YoY Change 0.0% 0.0%
% of Gross Profit 5.42% 9.09%
Operating Expenses $3.649M $140.0K $700.0K
YoY Change 421.34% 27.27% 483.33%
Operating Profit -$3.074M -$696.6K
YoY Change 341.28% -1493.11%
Interest Expense $840.0K $930.0K $4.640M
YoY Change -81.9% 72.22% 759.26%
% of Operating Profit
Other Income/Expense, Net -$15.70K -$110.0K
YoY Change -85.73% 22.22%
Pretax Income -$3.121M $790.0K $3.942M
YoY Change -179.18% 88.1% 838.52%
Income Tax $0.00 $370.0K $1.069M
% Of Pretax Income 46.84% 27.12%
Net Earnings -$3.121M $420.0K $2.873M
YoY Change -208.64% 35.48% 826.74%
Net Earnings / Revenue -426.45%
Basic Earnings Per Share -$0.15
Diluted Earnings Per Share -$0.15 $15.23K $104.1K
COMMON SHARES
Basic Shares Outstanding 20.52M
Diluted Shares Outstanding 20.52M

Balance Sheet

Concept 2020 2019 Q4 2019
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00 $500.0K $500.0K
YoY Change -100.0% -44.44% -44.44%
Cash & Equivalents $500.0K $1.199M $1.200M
Short-Term Investments
Other Short-Term Assets $600.0K $100.0K $100.0K
YoY Change 500.0% 0.0% 0.0%
Inventory $100.0K $0.00
Prepaid Expenses
Receivables $500.0K $400.0K
Other Receivables $500.0K $200.0K
Total Short-Term Assets $600.0K $577.5K $600.0K
YoY Change 0.0% -43.16% -40.0%
LONG-TERM ASSETS
Property, Plant & Equipment $200.0K $100.0K
YoY Change 100.0% 0.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $93.30M $225.4M $225.4M
YoY Change -58.61% 1.94% 1.94%
Total Long-Term Assets $93.30M $225.4M $225.4M
YoY Change -58.61% 1.98% 1.94%
TOTAL ASSETS
Total Short-Term Assets $600.0K $577.5K $600.0K
Total Long-Term Assets $93.30M $225.4M $225.4M
Total Assets $93.90M $226.0M $226.0M
YoY Change -58.45% 1.77% 1.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $300.0K $25.50K $0.00
YoY Change -53.95% -100.0%
Accrued Expenses $100.0K $25.00K $200.0K
YoY Change -50.0% 100.0%
Deferred Revenue
YoY Change
Short-Term Debt $2.800M $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.200M $1.284M $1.300M
YoY Change 146.15% 419.16% 550.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $7.700M $7.700M $7.700M
YoY Change 0.0% 0.0% 0.0%
Total Long-Term Liabilities $7.700M $7.700M $7.700M
YoY Change 0.0% 0.0% 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.200M $1.284M $1.300M
Total Long-Term Liabilities $7.700M $7.700M $7.700M
Total Liabilities $10.90M $9.002M $9.000M
YoY Change 21.11% 13.02% 12.5%
SHAREHOLDERS EQUITY
Retained Earnings $3.181M
YoY Change 933.85%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $83.00M -$833.8K $217.0M
YoY Change
Total Liabilities & Shareholders Equity $93.90M $226.0M $226.0M
YoY Change -58.45% 1.77% 1.76%

Cashflow Statement

Concept 2020 2019 Q4 2019
OPERATING ACTIVITIES
Net Income -$3.121M $420.0K $2.873M
YoY Change -208.64% 35.48% 826.74%
Depreciation, Depletion And Amortization $20.00K $20.00K
YoY Change 0.0% 0.0%
Cash From Operating Activities -$1.425M -$80.00K -$630.9K
YoY Change 125.87% -27.27% 473.56%
INVESTING ACTIVITIES
Capital Expenditures $120.0K $30.00K
YoY Change 300.0%
Acquisitions $0.00
YoY Change
Other Investing Activities $132.9M $20.00K $270.0K
YoY Change 49133.33% -100.01% -100.12%
Cash From Investing Activities -$122.5K $20.00K $265.1K
YoY Change -146.22% -100.01% -100.12%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $69.43K $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 882.3K 0.000 0.000
YoY Change -100.0% -100.0%
NET CHANGE
Cash From Operating Activities -1.425M -80.00K -630.9K
Cash From Investing Activities -122.5K 20.00K 265.1K
Cash From Financing Activities 882.3K 0.000 0.000
Net Change In Cash -665.2K -60.00K -365.9K
YoY Change 81.83% -107.06% -141.11%
FREE CASH FLOW
Cash From Operating Activities -$1.425M -$80.00K -$630.9K
Capital Expenditures $120.0K $30.00K
Free Cash Flow -$1.545M -$660.9K
YoY Change 133.78% 500.83%

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IncreaseDecreaseInFranchiseTaxPayable
-160000
CY2020 adn Proceeds From Sale Of Restricted Investments For Payment Of Taxes
ProceedsFromSaleOfRestrictedInvestmentsForPaymentOfTaxes
1805098
CY2019 adn Proceeds From Sale Of Restricted Investments For Payment Of Taxes
ProceedsFromSaleOfRestrictedInvestmentsForPaymentOfTaxes
265057
CY2020 adn Increase Decrease In Value Of Common Stock Subject To Redemption
IncreaseDecreaseInValueOfCommonStockSubjectToRedemption
-993848
CY2019 adn Increase Decrease In Value Of Common Stock Subject To Redemption
IncreaseDecreaseInValueOfCommonStockSubjectToRedemption
2897890
CY2019 adn Proceeds From Sale Of Restricted Investments For Redemption Of Common Stock
ProceedsFromSaleOfRestrictedInvestmentsForRedemptionOfCommonStock
0
CY2020 adn Proceeds From Sale Of Restricted Investments For Redemption Of Common Stock
ProceedsFromSaleOfRestrictedInvestmentsForRedemptionOfCommonStock
132990436
CY2019 adn Franchise Tax Expense
FranchiseTaxExpense
257540
CY2020 adn Franchise Tax Expense
FranchiseTaxExpense
208794
CY2020 adn Minimum Period After Initial Business Combination To Transfer Founder Shares
MinimumPeriodAfterInitialBusinessCombinationToTransferFounderShares
P150D
CY2020 adn Stock Conversion Ratio
StockConversionRatio
1
CY2020 adn Common Stock Closing Sale Price Threshold Number Of Trading Days
CommonStockClosingSalePriceThresholdNumberOfTradingDays
P20D
CY2020 adn Restricted Period To Transfer Assign Or Sell Founder Shares
RestrictedPeriodToTransferAssignOrSellFounderShares
P1Y
CY2020 adn Common Stock Closing Sale Price Consecutive Trading Days
CommonStockClosingSalePriceConsecutiveTradingDays
P30D
CY2020Q4 adn Other Offering Costs
OtherOfferingCosts
499623
CY2020Q4 adn Offering Costs
OfferingCosts
12628266
CY2020Q4 adn Underwriting Fees
UnderwritingFees
4410416
CY2020Q4 adn Deferred Underwriting Fee Noncurrent
DeferredUnderwritingFeeNoncurrent
7718227
CY2019Q4 adn Deferred Underwriting Fee Noncurrent
DeferredUnderwritingFeeNoncurrent
7718227
CY2020Q4 adn Franchise Tax Payable Current
FranchiseTaxPayableCurrent
40050
CY2019Q4 adn Franchise Tax Payable Current
FranchiseTaxPayableCurrent
200050
CY2020 adn Increase Decrease In Shares Subject To Mandatory Redemption Value
IncreaseDecreaseInSharesSubjectToMandatoryRedemptionValue
993847
CY2019 adn Increase Decrease In Shares Subject To Mandatory Redemption Value
IncreaseDecreaseInSharesSubjectToMandatoryRedemptionValue
-2897890

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