2022 Q4 Form 10-K Financial Statement
#000119312523110542 Filed on April 21, 2023
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 | ||
YoY Change | ||
% of Gross Profit | ||
Research & Development | ||
YoY Change | ||
% of Gross Profit | ||
Depreciation & Amortization | ||
YoY Change | ||
% of Gross Profit | ||
Operating Expenses | $452.4K | $1.453M |
YoY Change | 240.8% | 941.5% |
Operating Profit | -$1.453M | |
YoY Change | ||
Interest Expense | $1.609M | $2.542M |
YoY Change | 335070.83% | 529585.42% |
% of Operating Profit | ||
Other Income/Expense, Net | $0.00 | -$30.00K |
YoY Change | -100.0% | -91.28% |
Pretax Income | $1.156M | $1.060M |
YoY Change | -342.81% | -319.42% |
Income Tax | ||
% Of Pretax Income | ||
Net Earnings | $1.156M | $1.060M |
YoY Change | -342.81% | -319.42% |
Net Earnings / Revenue | ||
Basic Earnings Per Share | ||
Diluted Earnings Per Share | $0.04 | $0.04 |
COMMON SHARES | ||
Basic Shares Outstanding | ||
Diluted Shares Outstanding |
Balance Sheet
Concept | 2022 Q4 | 2022 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $461.9K | $461.9K |
YoY Change | -47.27% | -47.27% |
Cash & Equivalents | $461.9K | |
Short-Term Investments | ||
Other Short-Term Assets | $514.2K | $514.2K |
YoY Change | -52.39% | -52.39% |
Inventory | ||
Prepaid Expenses | $514.2K | |
Receivables | ||
Other Receivables | ||
Total Short-Term Assets | $976.1K | $976.1K |
YoY Change | -32.08% | -49.94% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | ||
YoY Change | ||
Goodwill | ||
YoY Change | ||
Intangibles | ||
YoY Change | ||
Long-Term Investments | $229.8M | $229.8M |
YoY Change | 13.76% | 13.76% |
Other Assets | $0.00 | $0.00 |
YoY Change | -100.0% | -100.0% |
Total Long-Term Assets | $229.8M | $229.8M |
YoY Change | 13.47% | 13.76% |
TOTAL ASSETS | ||
Total Short-Term Assets | $976.1K | $976.1K |
Total Long-Term Assets | $229.8M | $229.8M |
Total Assets | $230.8M | $230.8M |
YoY Change | 13.15% | 13.15% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $51.45K | $51.45K |
YoY Change | 55.65% | 55.91% |
Accrued Expenses | $504.2K | $859.1K |
YoY Change | 531.21% | 973.91% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Long-Term Debt Due | ||
YoY Change | ||
Total Short-Term Liabilities | $912.9K | $912.9K |
YoY Change | 109.66% | 109.85% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Other Long-Term Liabilities | $7.875M | $7.875M |
YoY Change | -96.23% | -96.23% |
Total Long-Term Liabilities | $7.875M | $7.875M |
YoY Change | -96.23% | -96.23% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $912.9K | $912.9K |
Total Long-Term Liabilities | $7.875M | $7.875M |
Total Liabilities | $8.788M | $8.788M |
YoY Change | 18.19% | -95.8% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$7.712M | |
YoY Change | 40.62% | |
Common Stock | ||
YoY Change | ||
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | -$7.712M | $222.0M |
YoY Change | ||
Total Liabilities & Shareholders Equity | $230.8M | $230.8M |
YoY Change | 13.15% | 13.15% |
Cashflow Statement
Concept | 2022 Q4 | 2022 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | $1.156M | $1.060M |
YoY Change | -342.81% | -319.42% |
Depreciation, Depletion And Amortization | ||
YoY Change | ||
Cash From Operating Activities | -$69.16K | -$413.9K |
YoY Change | -93.71% | -62.37% |
INVESTING ACTIVITIES | ||
Capital Expenditures | ||
YoY Change | ||
Acquisitions | ||
YoY Change | ||
Other Investing Activities | $0.00 | -$25.25M |
YoY Change | -100.0% | -94.02% |
Cash From Investing Activities | $0.00 | -$25.25M |
YoY Change | -100.0% | -87.5% |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | $0.00 | |
YoY Change | -100.0% | |
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | 0.000 | 25.25M |
YoY Change | -100.0% | -87.62% |
NET CHANGE | ||
Cash From Operating Activities | -69.16K | -413.9K |
Cash From Investing Activities | 0.000 | -25.25M |
Cash From Financing Activities | 0.000 | 25.25M |
Net Change In Cash | -69.16K | -413.9K |
YoY Change | -107.9% | -147.04% |
FREE CASH FLOW | ||
Cash From Operating Activities | -$69.16K | -$413.9K |
Capital Expenditures | ||
Free Cash Flow | ||
YoY Change |
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-413917 | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
875831 | ||
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
875831 | |
CY2021Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
0 | |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
461914 | |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
875831 | |
ivcp |
Offering Costs Included In Accrued Offering Costs
OfferingCostsIncludedInAccruedOfferingCosts
|
320185 | ||
CY2022 | us-gaap |
Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
|
2442494 | |
us-gaap |
Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
|
36958138 | ||
CY2022 | ivcp |
Initial Accretion From Overallotment Warrants
InitialAccretionFromOverallotmentWarrants
|
2806250 | |
ivcp |
Initial Accretion From Overallotment Warrants
InitialAccretionFromOverallotmentWarrants
|
0 | ||
CY2022 | ivcp |
Deferred Underwriting Fee Incurred But Not Yet Paid
DeferredUnderwritingFeeIncurredButNotYetPaid
|
875000 | |
ivcp |
Deferred Underwriting Fee Incurred But Not Yet Paid
DeferredUnderwritingFeeIncurredButNotYetPaid
|
7000000 | ||
CY2022 | ivcp |
Forfeiture Of Ordinary Shares By Sponsor
ForfeitureOfOrdinarySharesBySponsor
|
13 | |
ivcp |
Forfeiture Of Ordinary Shares By Sponsor
ForfeitureOfOrdinarySharesBySponsor
|
225 | ||
CY2021Q4 | ivcp |
Term Of Restricted Investments
TermOfRestrictedInvestments
|
P185D | |
CY2022Q4 | ivcp |
Number Of Operating Businesses Included In Initial Business Combination
NumberOfOperatingBusinessesIncludedInInitialBusinessCombination
|
1 | |
CY2022Q4 | ivcp |
Cash Deposited In Trust Account Per Unit
CashDepositedInTrustAccountPerUnit
|
10.1 | |
CY2022Q4 | us-gaap |
Minimum Net Worth Required For Compliance
MinimumNetWorthRequiredForCompliance
|
5000001 | |
CY2022Q4 | ivcp |
Percentage Of Public Shares That Can Be Redeemed Without Prior Consent
PercentageOfPublicSharesThatCanBeRedeemedWithoutPriorConsent
|
0.15 | |
CY2022Q4 | ivcp |
Percentage Of Public Shares That Would Not Be Redeemed If Business Combination Is Not Completed With In Initial Combination Period
PercentageOfPublicSharesThatWouldNotBeRedeemedIfBusinessCombinationIsNotCompletedWithInInitialCombinationPeriod
|
1 | |
CY2022 | ivcp |
Period To Complete Business Combination From Closing Of Initial Public Offering
PeriodToCompleteBusinessCombinationFromClosingOfInitialPublicOffering
|
P18D | |
CY2022 | ivcp |
Period To Complete Business Combination From Closing Of Initial Public Offering
PeriodToCompleteBusinessCombinationFromClosingOfInitialPublicOffering
|
P18D | |
CY2022Q4 | us-gaap |
Liquidation Basis Of Accounting Accrued Costs To Dispose Of Assets And Liabilities
LiquidationBasisOfAccountingAccruedCostsToDisposeOfAssetsAndLiabilities
|
100000 | |
CY2021Q4 | us-gaap |
Temporary Equity Redemption Price Per Share
TemporaryEquityRedemptionPricePerShare
|
10.1 | |
CY2022Q4 | ivcp |
Cash Deposited In Trust Account Per Unit
CashDepositedInTrustAccountPerUnit
|
10.1 | |
CY2022Q4 | us-gaap |
Cash
Cash
|
461914 | |
CY2022Q4 | ivcp |
Working Capital Surplus
WorkingCapitalSurplus
|
63250 | |
CY2022Q3 | ivcp |
Percentage Of Excise Tax On Repurchases Of Stock
PercentageOfExciseTaxOnRepurchasesOfStock
|
0.01 | |
CY2022Q3 | ivcp |
Percentageofamountofexcisetaxisequaltoamountoffairmarketvalueofthesharesrepurchased
Percentageofamountofexcisetaxisequaltoamountoffairmarketvalueofthesharesrepurchased
|
0.01 | |
CY2022 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="margin-top: 18pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman";"><div style="font-weight:bold;display:inline;">Use of Estimates </div></div><div style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The preparation of the financial statements in conformity with US 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 financial statements and the reported amounts of revenues and expenses during the reporting period. </div><div style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">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. </div> | |
CY2022Q4 | us-gaap |
Cash
Cash
|
461914 | |
CY2021Q4 | us-gaap |
Cash
Cash
|
875831 | |
CY2022Q4 | us-gaap |
Assets Held In Trust
AssetsHeldInTrust
|
229792494 | |
CY2021Q4 | us-gaap |
Assets Held In Trust
AssetsHeldInTrust
|
202000481 | |
CY2022Q4 | us-gaap |
Liquidation Basis Of Accounting Accrued Costs To Dispose Of Assets And Liabilities
LiquidationBasisOfAccountingAccruedCostsToDisposeOfAssetsAndLiabilities
|
100000 | |
CY2021Q4 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
0 | |
CY2022Q4 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
0 | |
CY2021Q4 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
|
0 | |
CY2022Q4 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
|
0 | |
CY2022 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
20600000 | |
CY2022 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<div style="margin-top: 18pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman";"><div style="font-weight:bold;display:inline;">Concentration of Credit Risk </div></div> <div style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">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 <div style="text-indent: 0px; letter-spacing: 0px; top: 0px;;display:inline;">Depository Insurance Coverage</div> 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. </div> | |
CY2022Q4 | us-gaap |
Cash Fdic Insured Amount
CashFDICInsuredAmount
|
250000 | |
CY2021Q4 | us-gaap |
Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
|
3000000 | |
CY2021Q4 | ivcp |
Cash Deposited In To Operating Bank Account
CashDepositedInToOperatingBankAccount
|
2600000 | |
CY2022Q4 | us-gaap |
Due To Related Parties Current
DueToRelatedPartiesCurrent
|
2284 | |
CY2021Q4 | us-gaap |
Due To Related Parties Current
DueToRelatedPartiesCurrent
|
2284 | |
CY2021Q4 | ivcp |
Loansfromworkingcapital
Loansfromworkingcapital
|
0 | |
CY2022Q4 | ivcp |
Loansfromworkingcapital
Loansfromworkingcapital
|
0 | |
CY2021Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | |
CY2022Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | |
CY2021Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2022Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2021Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | |
CY2022Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | |
CY2021Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | |
CY2022Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 |