$AITR
AI Transportation Acquisition Corp

2024 Q4 Form 10-Q Financial Statement

#000149315224044945 Filed on November 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q3
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $139.7K $150.00
YoY Change 93040.0%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $139.7K $150.00
YoY Change 93040.0%
Operating Profit -$139.7K -$151.00
YoY Change 92424.5%
Interest Expense $803.7K
YoY Change
% of Operating Profit
Other Income/Expense, Net $803.7K
YoY Change
Pretax Income $664.0K -$150.00
YoY Change -442780.0%
Income Tax
% Of Pretax Income
Net Earnings $664.0K -$151.00
YoY Change -439847.02%
Net Earnings / Revenue
Basic Earnings Per Share $0.08 $0.00
Diluted Earnings Per Share $0.08 $0.00
COMMON SHARES
Basic Shares Outstanding 7.838M shares 7.838M shares 1.500M shares
Diluted Shares Outstanding 7.838M shares 1.500M shares

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $50.47K $840.00
YoY Change 5908.33%
Cash & Equivalents $50.47K $844.00
Short-Term Investments
Other Short-Term Assets $26.59K $178.8K
YoY Change -85.13%
Inventory
Prepaid Expenses $26.59K
Receivables
Other Receivables
Total Short-Term Assets $77.80K $179.7K
YoY Change -56.7%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $63.11M
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $63.11M $1.00
YoY Change 6310507800.0%
TOTAL ASSETS
Total Short-Term Assets $77.80K $179.7K
Total Long-Term Assets $63.11M $1.00
Total Assets $63.18M $179.7K
YoY Change 35063.92%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $224.2K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $159.1K
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $224.2K $159.1K
YoY Change 40.92%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.200M
YoY Change
Total Long-Term Liabilities $1.200M $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $224.2K $159.1K
Total Long-Term Liabilities $1.200M $0.00
Total Liabilities $1.424M $159.1K
YoY Change 795.31%
SHAREHOLDERS EQUITY
Retained Earnings -$1.347M -$4.388K
YoY Change 30587.01%
Common Stock $184.00 $173.00
YoY Change 6.36%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.346M $20.61K
YoY Change
Total Liabilities & Shareholders Equity $63.18M $179.7K
YoY Change 35063.92%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income $664.0K -$151.00
YoY Change -439847.02%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$129.6K -$150.00
YoY Change 86286.67%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
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 0.000 1.000K
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -129.6K -150.0
Cash From Investing Activities
Cash From Financing Activities 0.000 1.000K
Net Change In Cash -129.6K 850.0
YoY Change -15344.71%
FREE CASH FLOW
Cash From Operating Activities -$129.6K -$150.00
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<p id="xdx_84B_eus-gaap--UseOfEstimates_z78YnJ97BjMl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86D_zTWe1FcIXBLc">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of 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 period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
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<p id="xdx_842_eus-gaap--ConcentrationRiskCreditRisk_zFuxrHmBfWfk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86B_zJZBscBw8dRd">Concentration of credit risk</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially subject the Company to concentration of credit risk consist of a cash account in a financial institution which, at times may exceed the Federal depository insurance coverage of $<span id="xdx_90F_eus-gaap--CashFDICInsuredAmount_iI_c20240930_z52i6HEyAMob" title="Cash, FDIC insured amount">250,000</span>. At September 30, 2024 and December 31, 2023, the Company had not experienced losses on this account and management believes the Company is not exposed to significant risks on such account.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q3 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2024Q3 AITR Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Tangibles
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedTangibles
5000001 usd
CY2024Q3 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Number Of Shares
SharesSubjectToMandatoryRedemptionSettlementTermsNumberOfShares
6000000 shares
CY2023Q4 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Number Of Shares
SharesSubjectToMandatoryRedemptionSettlementTermsNumberOfShares
6000000 shares
CY2023Q1 us-gaap Sale Of Stock Description Of Transaction
SaleOfStockDescriptionOfTransaction
Subject to certain limited exceptions, our Sponsor, directors and each member of our management team have agreed not to transfer, assign or sell any of their founder shares until the earlier to occur of (a) nine months after the completion of our initial business combination and (b) upon completion of our initial business combination, (i) if the last reported sale price of our ordinary shares equals or exceeds $12.00 per unit (as adjusted for share subdivisions, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after our initial business combination or (ii) the date on which we complete a liquidation, merger, share exchange, reorganization or other similar transaction after our initial business combination that results in all of our shareholders having the right to exchange their ordinary shares for cash, securities or other property
us-gaap Administrative Fees Expense
AdministrativeFeesExpense
110000 usd
CY2023 us-gaap Administrative Fees Expense
AdministrativeFeesExpense
20000 usd
CY2024Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2024Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q3 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Number Of Shares
SharesSubjectToMandatoryRedemptionSettlementTermsNumberOfShares
6000000 shares
CY2023Q4 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Number Of Shares
SharesSubjectToMandatoryRedemptionSettlementTermsNumberOfShares
6000000 shares

Files In Submission

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aitr-20240930_pre.xml Edgar Link unprocessable
0001493152-24-044945-index-headers.html Edgar Link pending
0001493152-24-044945-index.html Edgar Link pending
0001493152-24-044945.txt Edgar Link pending
0001493152-24-044945-xbrl.zip Edgar Link pending
aitr-20240930.xsd Edgar Link pending
ex31-1.htm Edgar Link pending
ex31-2.htm Edgar Link pending
ex32-1.htm Edgar Link pending
ex32-2.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
form10-q.htm Edgar Link pending
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form10-q_htm.xml Edgar Link completed
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