$AILE
iLearningEngines Inc

2023 Q1 Form 10-Q Financial Statement

#000114036123024807 Filed on May 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $828.6K $438.9K
YoY Change 88.81% -53.44%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $828.6K $438.9K
YoY Change 88.81% -53.44%
Operating Profit -$828.6K -$438.9K
YoY Change 88.81% -53.44%
Interest Expense $3.520M $25.63K
YoY Change 13632.85% 1256.08%
% of Operating Profit
Other Income/Expense, Net $909.7K $6.361M
YoY Change -85.7% 147.19%
Pretax Income $81.11K $5.922M
YoY Change -98.63% 263.16%
Income Tax $455.9K $0.00
% Of Pretax Income 562.16% 0.0%
Net Earnings -$374.8K $5.922M
YoY Change -106.33% 263.16%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$0.01 $164.8K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $228.0K $122.3K
YoY Change 86.38% -85.96%
Cash & Equivalents $228.0K $122.3K
Short-Term Investments
Other Short-Term Assets $144.2K $413.0K
YoY Change -65.1% -59.55%
Inventory
Prepaid Expenses $144.1K
Receivables
Other Receivables
Total Short-Term Assets $372.1K $535.3K
YoY Change -30.48% -71.71%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $46.28M $287.5M
YoY Change -83.9% 0.01%
Other Assets
YoY Change
Total Long-Term Assets $46.28M $287.5M
YoY Change -83.9% 0.01%
TOTAL ASSETS
Total Short-Term Assets $372.1K $535.3K
Total Long-Term Assets $46.28M $287.5M
Total Assets $46.65M $288.1M
YoY Change -83.81% -0.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.502M $1.149M
YoY Change 30.7% 805.44%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $757.0K $950.0K
YoY Change -20.31%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.099M $2.099M
YoY Change 47.6% 1553.89%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $12.78M $15.72M
YoY Change -18.68% -44.19%
Total Long-Term Liabilities $12.78M $15.72M
YoY Change -18.68% -44.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.099M $2.099M
Total Long-Term Liabilities $12.78M $15.72M
Total Liabilities $15.88M $17.82M
YoY Change -10.87% -37.01%
SHAREHOLDERS EQUITY
Retained Earnings -$15.21M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$14.64M -$17.26M
YoY Change
Total Liabilities & Shareholders Equity $46.65M $288.1M
YoY Change -83.81% -0.46%

Cashflow Statement

Concept 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$374.8K $5.922M
YoY Change -106.33% 263.16%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$458.0K -$365.9K
YoY Change 25.2% -66.05%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $246.7M $25.50K
YoY Change 967190.67% -100.01%
Cash From Investing Activities $246.7M $25.50K
YoY Change 967190.66% -100.01%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -246.1M 200.0K
YoY Change -123159.53% -99.93%
NET CHANGE
Cash From Operating Activities -458.0K -365.9K
Cash From Investing Activities 246.7M 25.50K
Cash From Financing Activities -246.1M 200.0K
Net Change In Cash 82.02K -140.4K
YoY Change -158.44% -116.52%
FREE CASH FLOW
Cash From Operating Activities -$458.0K -$365.9K
Capital Expenditures
Free Cash Flow
YoY Change

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<div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold; font-variant: normal; text-transform: none;">Use of Estimates</div> <div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">The preparation of the unaudited condensed financial statements in conformity with GAAP requires the Company’s 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 unaudited condensed financial statements and the reported amounts of revenues and expenses during the reporting periods.<br/> </span> </div> <div><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span> <span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> </span></div> <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;"><span style="font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">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. One of the more significant accounting estimates included in these unaudited condensed financial statements is the</span><span style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"> determination of the fair value of the warrant liabilities and convertible promissory notes. Such estimates may be subject to change as more current information becomes available and accordingly, the actual results could differ significantly from those estimates. </span></div>
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ClassOfWarrantOrRightIssued
22625000
CY2023Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold; font-variant: normal; text-transform: none;">Concentration of Credit Risk</div> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;"><br/> </div> <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">The Company has significant cash balances at financial institutions which throughout the year regularly exceed the federally insured limit of $250,000. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations, and cash flows.</div> <div><span class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;"> </span></div>
CY2021Q1 arrw Number Of Director Nominees
NumberOfDirectorNominees
3
CY2021Q1 arrw Deferred Underwriter Fee Per Unit
DeferredUnderwriterFeePerUnit
0.35
CY2021Q1 arrw Deferred Underwriting Commissions
DeferredUnderwritingCommissions
10062500
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2023Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q1 arrw Stock Conversion Ratio
StockConversionRatio
1
CY2023Q1 arrw Stock Conversion As Converted Percentage
StockConversionAsConvertedPercentage
0.20
CY2023Q1 arrw Stock Conversion Ratio
StockConversionRatio
1
CY2023Q1 arrw Period To Exercise Warrants After Business Combination
PeriodToExerciseWarrantsAfterBusinessCombination
P30D
CY2023Q1 arrw Period To Exercise Warrants After Closing Of Initial Public Offering
PeriodToExerciseWarrantsAfterClosingOfInitialPublicOffering
P12M
CY2023Q1 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P5Y
CY2023Q1 arrw Period To File Registration Statement After Initial Business Combination
PeriodToFileRegistrationStatementAfterInitialBusinessCombination
P15D
CY2023Q1 arrw Period For Registration Statement To Become Effective
PeriodForRegistrationStatementToBecomeEffective
P60D
CY2023Q1 arrw Class Of Warrant Or Right Redemption Price
ClassOfWarrantOrRightRedemptionPrice
0.01
CY2023Q1 arrw Notice Period To Redeem Warrants
NoticePeriodToRedeemWarrants
P30D
CY2023Q1 arrw Threshold Trading Days
ThresholdTradingDays
P20D
CY2023Q1 arrw Threshold Consecutive Trading Days
ThresholdConsecutiveTradingDays
P30D
CY2023Q1 arrw Proceeds From Cash Withdrawal From Trust Account
ProceedsFromCashWithdrawalFromTrustAccount
40050

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0001140361-23-024807.txt Edgar Link pending
0001140361-23-024807-xbrl.zip Edgar Link pending
arrw-20230331.xsd Edgar Link pending
brhc20052725_10q.htm Edgar Link pending
brhc20052725_ex31-1.htm Edgar Link pending
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