2024 Q3 Form 10-Q Financial Statement
#000121390024064071 Filed on August 01, 2024
Income Statement
Concept | 2024 Q3 | 2024 Q1 |
---|---|---|
Revenue | $0.00 | $0.00 |
YoY Change | ||
Cost Of Revenue | ||
YoY Change | ||
Gross Profit | ||
YoY Change | ||
Gross Profit Margin | ||
Selling, General & Admin | $351.5K | $89.88K |
YoY Change | 170.35% | -74.32% |
% of Gross Profit | ||
Research & Development | ||
YoY Change | ||
% of Gross Profit | ||
Depreciation & Amortization | ||
YoY Change | ||
% of Gross Profit | ||
Operating Expenses | $351.5K | $89.88K |
YoY Change | 170.35% | -74.32% |
Operating Profit | -$351.4K | -$89.88K |
YoY Change | 175.81% | -74.53% |
Interest Expense | $116.4K | $417.8K |
YoY Change | -74.13% | -29.18% |
% of Operating Profit | ||
Other Income/Expense, Net | ||
YoY Change | ||
Pretax Income | -$235.0K | $327.9K |
YoY Change | -173.45% | 36.64% |
Income Tax | $22.61K | $84.44K |
% Of Pretax Income | 25.75% | |
Net Earnings | -$257.7K | $98.81K |
YoY Change | -201.73% | -34.91% |
Net Earnings / Revenue | ||
Basic Earnings Per Share | ||
Diluted Earnings Per Share | -$0.11 | $0.02 |
COMMON SHARES | ||
Basic Shares Outstanding | 4.553M shares | 4.553M shares |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2024 Q3 | 2024 Q1 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $109.7K | $27.70K |
YoY Change | -99.65% | -99.95% |
Cash & Equivalents | ||
Short-Term Investments | ||
Other Short-Term Assets | $165.0K | $0.00 |
YoY Change | -8.34% | -100.0% |
Inventory | ||
Prepaid Expenses | $20.25K | |
Receivables | ||
Other Receivables | ||
Total Short-Term Assets | $274.6K | $27.70K |
YoY Change | -99.13% | -99.95% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | ||
YoY Change | ||
Goodwill | ||
YoY Change | ||
Intangibles | ||
YoY Change | ||
Long-Term Investments | $9.110M | $32.49M |
YoY Change | ||
Other Assets | $0.00 | |
YoY Change | ||
Total Long-Term Assets | $9.110M | $32.49M |
YoY Change | ||
TOTAL ASSETS | ||
Total Short-Term Assets | $274.6K | $27.70K |
Total Long-Term Assets | $9.110M | $32.49M |
Total Assets | $9.384M | $32.52M |
YoY Change | -70.16% | -42.19% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $384.0K | $85.77K |
YoY Change | 91.99% | -61.01% |
Accrued Expenses | $22.30K | $29.29K |
YoY Change | -25.67% | 192.9% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $1.650M | $1.419M |
YoY Change | 117.06% | 491.1% |
Long-Term Debt Due | ||
YoY Change | ||
Total Short-Term Liabilities | $2.706M | $2.231M |
YoY Change | -33.48% | -31.02% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Other Long-Term Liabilities | $2.526M | $2.526M |
YoY Change | ||
Total Long-Term Liabilities | $2.526M | $2.526M |
YoY Change | ||
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $2.706M | $2.231M |
Total Long-Term Liabilities | $2.526M | $2.526M |
Total Liabilities | $5.232M | $4.756M |
YoY Change | 28.61% | 47.1% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$4.957M | -$4.729M |
YoY Change | 27.81% | -1618.23% |
Common Stock | $163.00 | $163.00 |
YoY Change | 0.0% | 0.0% |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | -$4.957M | -$4.729M |
YoY Change | ||
Total Liabilities & Shareholders Equity | $9.384M | $32.52M |
YoY Change | -70.16% | -42.19% |
Cashflow Statement
Concept | 2024 Q3 | 2024 Q1 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | -$257.7K | $98.81K |
YoY Change | -201.73% | -34.91% |
Depreciation, Depletion And Amortization | ||
YoY Change | ||
Cash From Operating Activities | -$130.8K | -$140.2K |
YoY Change | 86.89% | -48.68% |
INVESTING ACTIVITIES | ||
Capital Expenditures | ||
YoY Change | ||
Acquisitions | ||
YoY Change | ||
Other Investing Activities | -$80.00K | -$114.4K |
YoY Change | -100.31% | -1244.2% |
Cash From Investing Activities | -$80.00K | -$114.4K |
YoY Change | -100.31% | -974.38% |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | ||
YoY Change | ||
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | 109.0K | $281.9K |
YoY Change | -100.42% | 17.48% |
NET CHANGE | ||
Cash From Operating Activities | -130.8K | -$140.2K |
Cash From Investing Activities | -80.00K | -$114.4K |
Cash From Financing Activities | 109.0K | $281.9K |
Net Change In Cash | -101.8K | $27.36K |
YoY Change | 69.7% | -236.54% |
FREE CASH FLOW | ||
Cash From Operating Activities | -$130.8K | -$140.2K |
Capital Expenditures | ||
Free Cash Flow | ||
YoY Change |
Facts In Submission
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true | |
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Document Period End Date
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2024-03-31 | |
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Document Transition Report
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AQUARON ACQUISITION CORP. | |
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DE | |
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001-41470 | |
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515 Madison Avenue | |
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8th Floor | |
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New York | |
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NY | |
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10022 | |
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(646) | |
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970 2181 | |
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TermOfInvestmentMaturity
|
P185D | |
CY2024Q1 | aqu |
Aggregate Fair Market Value
AggregateFairMarketValue
|
0.80 | pure |
CY2024Q1 | aqu |
Agreement Percentage
AgreementPercentage
|
0.80 | pure |
CY2024Q1 | aqu |
Trust Account Balance
TrustAccountBalance
|
0.80 | pure |
CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
5000001 | usd |
CY2024Q1 | aqu |
Percentage Obligation To Redeem Public Shares If Entity Does Not Complete Business Combination
PercentageObligationToRedeemPublicSharesIfEntityDoesNotCompleteBusinessCombination
|
1 | pure |
CY2024Q1 | us-gaap |
Equity Fair Value Disclosure
EquityFairValueDisclosure
|
1000000000 | usd |
CY2024Q1 | us-gaap |
Shares Issued Price Per Share
SharesIssuedPricePerShare
|
10 | |
CY2023Q2 | us-gaap |
Deposits
Deposits
|
70000 | usd |
CY2024Q1 | us-gaap |
Temporary Equity Stock Issued During Period Value New Issues
TemporaryEquityStockIssuedDuringPeriodValueNewIssues
|
2487090 | usd |
CY2023Q2 | us-gaap |
Notes Payable
NotesPayable
|
70000 | usd |
CY2024Q2 | us-gaap |
Deposits
Deposits
|
20000 | usd |
CY2024Q1 | aqu |
Aggregate Shares Redemption
AggregateSharesRedemption
|
2124738 | shares |
CY2024Q1 | aqu |
Share Redemption Value
ShareRedemptionValue
|
23500000 | usd |
CY2024Q1 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
11.04 | |
CY2024Q1 | us-gaap |
Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
|
50000 | usd |
CY2024Q1 | aqu |
Remaining Price Per Share
RemainingPricePerShare
|
10.15 | |
CY2024Q1 | aqu |
Trust Account Per Share
TrustAccountPerShare
|
10.15 | |
CY2024Q1 | us-gaap |
Cash
Cash
|
27695 | usd |
CY2024Q1 | aqu |
Working Capital Deficit
WorkingCapitalDeficit
|
2202884 | usd |
CY2024Q1 | aqu |
Payment From Sponsor
PaymentFromSponsor
|
25000 | usd |
CY2024Q1 | us-gaap |
Notes Payable
NotesPayable
|
300000 | usd |
CY2023Q4 | us-gaap |
Loans Payable
LoansPayable
|
449780 | usd |
CY2024Q1 | us-gaap |
Debt Instrument Face Amount
DebtInstrumentFaceAmount
|
200000 | usd |
CY2024Q1 | us-gaap |
Debt Instrument Face Amount
DebtInstrumentFaceAmount
|
200000 | usd |
CY2023Q4 | aqu |
Conversion Outstanding
ConversionOutstanding
|
97052 | usd |
CY2023 | aqu |
Transaction Cost
TransactionCost
|
100000 | usd |
CY2022Q3 | us-gaap |
Derivative Average Forward Interest Rate
DerivativeAverageForwardInterestRate
|
0.01 | pure |
CY2022Q3 | us-gaap |
Effective Income Tax Rate Reconciliation Tax Credits Other
EffectiveIncomeTaxRateReconciliationTaxCreditsOther
|
0.01 | pure |
CY2024Q1 | us-gaap |
Excise And Sales Taxes
ExciseAndSalesTaxes
|
259438 | usd |
CY2024Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Use of Estimates</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In preparing these unaudited financial statements in conformity with U.S. GAAP, the Company’s management makes 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 expenses during the reporting period.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><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 0; text-align: justify"> </p> | |
CY2024Q1 | us-gaap |
Cash
Cash
|
27695 | usd |
CY2023Q4 | us-gaap |
Cash
Cash
|
339 | usd |
CY2024Q1 | us-gaap |
Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
|
32492503 | usd |
CY2023Q4 | us-gaap |
Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
|
31960267 | usd |
CY2024Q1 | us-gaap |
Assets Held In Trust
AssetsHeldInTrust
|
417814 | usd |
CY2023Q1 | us-gaap |
Assets Held In Trust
AssetsHeldInTrust
|
588037 | usd |
CY2024Q1 | us-gaap |
Effective Income Tax Rate Reconciliation Deductions
EffectiveIncomeTaxRateReconciliationDeductions
|
0.6987 | pure |
CY2023Q1 | us-gaap |
Effective Income Tax Rate Reconciliation Deductions
EffectiveIncomeTaxRateReconciliationDeductions
|
0.3545 | pure |
CY2024Q1 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.21 | pure |
CY2023Q1 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.21 | pure |
CY2024Q1 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
158740 | usd |
CY2024Q1 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Other
DeferredTaxAssetsTaxDeferredExpenseOther
|
189253 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Other
DeferredTaxAssetsTaxDeferredExpenseOther
|
174157 | usd |
CY2024Q1 | aqu |
Deferred Tax Assets Tax Amortization Of Startup Cost
DeferredTaxAssetsTaxAmortizationOfStartupCost
|
3621 | usd |
CY2023Q4 | aqu |
Deferred Tax Assets Tax Amortization Of Startup Cost
DeferredTaxAssetsTaxAmortizationOfStartupCost
|
2897 | usd |
CY2024Q1 | us-gaap |
Deferred Tax Liabilities Unrealized Gains On Trading Securities
DeferredTaxLiabilitiesUnrealizedGainsOnTradingSecurities
|
30038 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Liabilities Unrealized Gains On Trading Securities
DeferredTaxLiabilitiesUnrealizedGainsOnTradingSecurities
|
29727 | usd |
CY2024Q1 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
155594 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
141533 | usd |
CY2024Q1 | aqu |
Valuation Allowance
ValuationAllowance
|
155594 | usd |
CY2023Q4 | aqu |
Valuation Allowance
ValuationAllowance
|
-3147 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
144680 | usd |
CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
98814 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
151806 | usd |
CY2024Q1 | us-gaap |
Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
|
532235 | usd |
CY2023Q1 | us-gaap |
Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
|
4135212 | usd |
CY2024Q1 | aqu |
Net Loss Including Accretion Of Common Stock To Redemption Value
NetLossIncludingAccretionOfCommonStockToRedemptionValue
|
-433421 | usd |
CY2023Q1 | aqu |
Net Loss Including Accretion Of Common Stock To Redemption Value
NetLossIncludingAccretionOfCommonStockToRedemptionValue
|
-3983406 | usd |
CY2024Q1 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Concentration of Credit Risk</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed the Federal Depository Insurance Coverage of $250,000. As of March 31, 2024 and December 31, 2023, the Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts.</span></p> | |
CY2024Q1 | us-gaap |
Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
|
250000 | usd |
CY2024Q1 | aqu |
Common Stock Subject To Possible Redemption
CommonStockSubjectToPossibleRedemption
|
532235 | usd |
CY2022Q4 | us-gaap |
Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
|
5000000 | shares |
CY2022Q4 | us-gaap |
Sale Of Stock Price Per Share
SaleOfStockPricePerShare
|
10 | |
CY2022Q4 | us-gaap |
Shares Issued Price Per Share
SharesIssuedPricePerShare
|
10 | |
CY2022Q4 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
12515.4 | shares |
CY2021Q2 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
25000 | usd |
CY2021Q2 | aqu |
Share Issued And Outstanding Percentage
ShareIssuedAndOutstandingPercentage
|
0.20 | pure |
CY2024Q1 | aqu |
Subject To Certain Limited Exceptions Percentage
SubjectToCertainLimitedExceptionsPercentage
|
0.50 | pure |
CY2023Q2 | us-gaap |
Induced Conversion Of Convertible Debt Expense
InducedConversionOfConvertibleDebtExpense
|
99846 | usd |
CY2024Q1 | us-gaap |
Induced Conversion Of Convertible Debt Expense
InducedConversionOfConvertibleDebtExpense
|
97052 | usd |
CY2023Q2 | us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
99846 | usd |
CY2024Q1 | us-gaap |
Accounts Payable And Other Accrued Liabilities
AccountsPayableAndOtherAccruedLiabilities
|
0 | usd |
CY2023Q4 | us-gaap |
Accounts Payable And Other Accrued Liabilities
AccountsPayableAndOtherAccruedLiabilities
|
97052 | usd |
CY2024Q1 | us-gaap |
Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
|
97052 | usd |
CY2024Q1 | us-gaap |
Notes Issued1
NotesIssued1
|
70000 | usd |
CY2024Q1 | us-gaap |
Shortterm Debt Average Outstanding Amount
ShorttermDebtAverageOutstandingAmount
|
630000 | usd |
CY2023 | us-gaap |
Shortterm Debt Average Outstanding Amount
ShorttermDebtAverageOutstandingAmount
|
490000 | usd |
CY2024Q1 | aqu |
Underwriters Option Period From The Date Of Initial Public Offering
UnderwritersOptionPeriodFromTheDateOfInitialPublicOffering
|
P45Y | |
CY2024Q1 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
750000 | shares |
CY2024Q1 | aqu |
Underwriter Cash Discount
UnderwriterCashDiscount
|
812577 | usd |
CY2024Q1 | aqu |
Deferred Fee Per Unit
DeferredFeePerUnit
|
3.5 | |
CY2024Q1 | aqu |
Deferred Underwriting Commissions Payable
DeferredUnderwritingCommissionsPayable
|
1896013 | usd |
CY2022Q4 | us-gaap |
Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
|
100 | usd |
CY2022Q4 | us-gaap |
Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
|
97509 | shares |
CY2022Q4 | us-gaap |
Percentage Of Weighted Average Cost Inventory
PercentageOfWeightedAverageCostInventory
|
1.15 | pure |
CY2024Q1 | us-gaap |
Equity Fair Value Adjustment
EquityFairValueAdjustment
|
1000000000 | usd |
CY2024Q1 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false | |
CY2024Q1 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false | |
CY2024Q1 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
CY2024Q1 | ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | |
CY2023Q1 | aqu |
Cash Deposited Into Trust Account
CashDepositedIntoTrustAccount
|
usd | |
CY2023Q1 | aqu |
Proceeds From Promissory Note Bestpath
ProceedsFromPromissoryNoteBestpath
|
usd | |
CY2023Q1 | aqu |
Other Payable Due To Related Party
OtherPayableDueToRelatedParty
|
usd | |
CY2024Q1 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
usd | |
CY2023Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
usd | |
CY2024Q1 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
usd | |
CY2024Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
usd | |
CY2023Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
usd | |
CY2024Q1 | dei |
Amendment Flag
AmendmentFlag
|
false | |
CY2024Q1 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | |
CY2024Q1 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q1 | |
CY2024Q1 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001861063 |