$AIRJ
AirJoule Technologies Corp.

2022 Q4 Form 10-K Financial Statement

#000121390023030300 Filed on April 17, 2023

View on sec.gov

Income Statement

Concept 2022 Q4 2022
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $304.5K $1.343M
YoY Change -43.83% 241.84%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $304.5K $1.343M
YoY Change -43.83% 146.4%
Operating Profit -$1.343M
YoY Change
Interest Expense $2.456M $4.188M
YoY Change 272745.56% 465177.78%
% of Operating Profit
Other Income/Expense, Net $100.0K
YoY Change
Pretax Income $2.151M $2.844M
YoY Change -497.55% -622.65%
Income Tax $505.2K $802.4K
% Of Pretax Income 23.48% 28.21%
Net Earnings $1.646M $2.042M
YoY Change -404.19% -475.21%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share $0.05 $0.06
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.288M $1.288M
YoY Change -54.72% -54.72%
Cash & Equivalents $1.288M
Short-Term Investments
Other Short-Term Assets $284.4K $284.4K
YoY Change -13.7% -13.7%
Inventory
Prepaid Expenses $284.4K
Receivables
Other Receivables
Total Short-Term Assets $1.572M $1.572M
YoY Change -50.46% -50.46%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $294.4M $294.4M
YoY Change 1.38% 1.38%
Other Assets $0.00 $0.00
YoY Change -100.0% -100.0%
Total Long-Term Assets $294.4M $294.4M
YoY Change 1.29% 1.29%
TOTAL ASSETS
Total Short-Term Assets $1.572M $1.572M
Total Long-Term Assets $294.4M $294.4M
Total Assets $296.0M $296.0M
YoY Change 0.73% 0.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $267.3K $267.3K
YoY Change -76.72% -76.72%
Accrued Expenses $660.5K $1.535M
YoY Change 60.95% 274.08%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.802M $1.802M
YoY Change 5.37% 5.37%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.802M $1.802M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $11.86M $11.86M
YoY Change 0.78% 0.78%
SHAREHOLDERS EQUITY
Retained Earnings -$9.191M
YoY Change 10.54%
Common Stock $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$9.190M $284.1M
YoY Change
Total Liabilities & Shareholders Equity $296.0M $296.0M
YoY Change 0.73% 0.73%

Cashflow Statement

Concept 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $1.646M $2.042M
YoY Change -404.19% -475.21%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$144.8K -$1.724M
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $167.6K $167.6K
YoY Change -100.06% -100.06%
Cash From Investing Activities $167.6K $167.6K
YoY Change -100.06% -100.06%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities -144.8K -$1.724M
Cash From Investing Activities 167.6K $167.6K
Cash From Financing Activities
Net Change In Cash 22.77K -$1.557M
YoY Change -99.2% -154.72%
FREE CASH FLOW
Cash From Operating Activities -$144.8K -$1.724M
Capital Expenditures
Free Cash Flow
YoY Change

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CY2022 xpdb Initial Business Combination Description
InitialBusinessCombinationDescription
In addition, if (x) the Company issues additional shares of Class A common stock or equity-linked securities for capital raising purposes in connection with the closing of the initial Business Combination at an issue price or effective issue price of less than $9.20 per share of Class A common stock (with such issue price or effective issue price to be determined in good faith by the Company’s board of directors and, in the case of any such issuance to the Sponsor or its affiliates, without taking into account any Founder Shares held by the Sponsor or such affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of the initial Business Combination on the date of the completion of the initial Business Combination (net of redemptions), and (z) the volume weighted average trading price of the Class A common stock during the 20 trading day period starting on the trading day prior to the day on which the Company completes the initial Business Combination (such price, the “Market Value”) is below $9.20 per share, then the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price, the $18.00 per share redemption trigger prices described below under “Redemption of warrants when the price per share of Class A common stock equals or exceeds $18.00” to be equal to 180% of the higher of the Market Value and the Newly Issued Price described below under “Redemption of warrants when the price per share of Class A common stock equals or exceeds $18.00” will be adjusted (to the nearest cent) to be equal to the higher of the Market Value and the Newly Issued Price.
CY2022Q4 us-gaap Preferred Stock Redemption Price Per Share
PreferredStockRedemptionPricePerShare
18
CY2022 xpdb Warrants Description
WarrantsDescription
Once the warrants become exercisable, the Company may call the outstanding warrants for redemption (except as described herein with respect to the Private Placement Warrants):  ●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 to each warrant holder; and   ●if, and only if, the last reported sale price of Class A common stock 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 warrant holders (the “Reference Value”) equals or exceeds $18.00 per share (as adjusted).  
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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114287 usd
CY2022 us-gaap Income Tax Expense Benefit
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CY2022Q4 us-gaap Deferred Costs And Other Assets
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CY2021Q4 us-gaap Deferred Costs And Other Assets
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CY2022Q4 us-gaap Deferred Tax Assets Gross
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319341 usd
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
114287 usd
CY2022Q4 us-gaap Tax Credit Carryforward Valuation Allowance
TaxCreditCarryforwardValuationAllowance
319341 usd
CY2021Q4 us-gaap Tax Credit Carryforward Valuation Allowance
TaxCreditCarryforwardValuationAllowance
114287 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Not Subject To Expiration
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0 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Not Subject To Expiration
DeferredTaxAssetsOperatingLossCarryforwardsNotSubjectToExpiration
151300 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
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319341 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
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114287 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
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CY2021Q4 us-gaap Deferred Tax Assets Net
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CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.072 pure
us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.21 pure
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.282 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2021Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
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CY2022Q4 us-gaap Preferred Stock Value
PreferredStockValue
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CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
shares
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
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us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Proceeds From Decommissioning Fund
ProceedsFromDecommissioningFund
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CY2022 us-gaap Payments To Acquire Assets Investing Activities
PaymentsToAcquireAssetsInvestingActivities
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CY2022 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
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CY2022 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
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CY2022 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
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CY2022 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2022 xpdb Offering Costs Paid By Sponsor In Exchange For Issuance Of Class B Common Stock
OfferingCostsPaidBySponsorInExchangeForIssuanceOfClassBCommonStock
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CY2022 xpdb Deferred Offering Costs Included In Accounts Payable
DeferredOfferingCostsIncludedInAccountsPayable
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CY2022Q4 us-gaap Other Deferred Costs Net
OtherDeferredCostsNet
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CY2022 xpdb Deferred Offering Costs Paid By Sponsor Under Promissory Note
DeferredOfferingCostsPaidBySponsorUnderPromissoryNote
usd
CY2022 dei Amendment Flag
AmendmentFlag
false
CY2022 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2022 dei Entity Central Index Key
EntityCentralIndexKey
0001855474

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