2024 Q4 Form 10-Q Financial Statement

#000121390024098561 Filed on November 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $351.5K
YoY Change 170.35%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $351.5K
YoY Change 170.35%
Operating Profit -$351.4K
YoY Change 175.81%
Interest Expense $116.4K
YoY Change -74.13%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$235.0K
YoY Change -173.45%
Income Tax $22.61K
% Of Pretax Income
Net Earnings -$257.7K
YoY Change -201.73%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$0.11
COMMON SHARES
Basic Shares Outstanding 2.428M shares 4.553M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $109.7K
YoY Change -99.65%
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets $165.0K
YoY Change -8.34%
Inventory
Prepaid Expenses $20.25K
Receivables
Other Receivables
Total Short-Term Assets $274.6K
YoY Change -99.13%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $9.110M
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $9.110M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $274.6K
Total Long-Term Assets $9.110M
Total Assets $9.384M
YoY Change -70.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $384.0K
YoY Change 91.99%
Accrued Expenses $22.30K
YoY Change -25.67%
Deferred Revenue
YoY Change
Short-Term Debt $1.650M
YoY Change 117.06%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.706M
YoY Change -33.48%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $2.526M
YoY Change
Total Long-Term Liabilities $2.526M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $2.706M
Total Long-Term Liabilities $2.526M
Total Liabilities $5.232M
YoY Change 28.61%
SHAREHOLDERS EQUITY
Retained Earnings -$4.957M
YoY Change 27.81%
Common Stock $163.00
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$4.957M
YoY Change
Total Liabilities & Shareholders Equity $9.384M
YoY Change -70.16%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$257.7K
YoY Change -201.73%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$130.8K
YoY Change 86.89%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$80.00K
YoY Change -100.31%
Cash From Investing Activities -$80.00K
YoY Change -100.31%
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
YoY Change -100.42%
NET CHANGE
Cash From Operating Activities -130.8K
Cash From Investing Activities -80.00K
Cash From Financing Activities 109.0K
Net Change In Cash -101.8K
YoY Change 69.7%
FREE CASH FLOW
Cash From Operating Activities -$130.8K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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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
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0.01 pure
CY2023 us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
259438 usd
us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
231769 usd
CY2024Q3 us-gaap Sales And Excise Tax Payable Current And Noncurrent
SalesAndExciseTaxPayableCurrentAndNoncurrent
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us-gaap Use Of Estimates
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Use of Estimates</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2024Q3 us-gaap Cash
Cash
109650 usd
CY2023Q4 us-gaap Cash
Cash
339 usd
CY2024Q3 us-gaap Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
9109815 usd
CY2023Q4 us-gaap Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
31960267 usd
aqu Interests Earned Fromthe Trust Account
InterestsEarnedFromtheTrustAccount
789549 usd
aqu Interests Earned Fromthe Trust Account
InterestsEarnedFromtheTrustAccount
1703374 usd
CY2024Q3 us-gaap Effective Income Tax Rate Reconciliation Deductions
EffectiveIncomeTaxRateReconciliationDeductions
-0.0962 pure
CY2023Q3 us-gaap Effective Income Tax Rate Reconciliation Deductions
EffectiveIncomeTaxRateReconciliationDeductions
0.2609 pure
us-gaap Effective Income Tax Rate Reconciliation Deductions
EffectiveIncomeTaxRateReconciliationDeductions
1.4654 pure
us-gaap Effective Income Tax Rate Reconciliation Deductions
EffectiveIncomeTaxRateReconciliationDeductions
0.2466 pure
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2024Q3 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
CY2023Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2024Q3 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
28258 usd
us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
233626 usd
CY2024Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Other
DeferredTaxAssetsTaxDeferredExpenseOther
243409 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Other
DeferredTaxAssetsTaxDeferredExpenseOther
174157 usd
CY2024Q3 aqu Deferred Tax Assets Tax Amortization Of Startup Cost
DeferredTaxAssetsTaxAmortizationOfStartupCost
5069 usd
CY2023Q4 aqu Deferred Tax Assets Tax Amortization Of Startup Cost
DeferredTaxAssetsTaxAmortizationOfStartupCost
2897 usd
CY2024Q3 us-gaap Deferred Tax Liabilities Unrealized Gains On Trading Securities
DeferredTaxLiabilitiesUnrealizedGainsOnTradingSecurities
7861 usd
CY2023Q4 us-gaap Deferred Tax Liabilities Unrealized Gains On Trading Securities
DeferredTaxLiabilitiesUnrealizedGainsOnTradingSecurities
29727 usd
CY2024Q3 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
230479 usd
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
141533 usd
CY2024Q3 aqu Valuation Allowance
ValuationAllowance
230479 usd
CY2023Q4 aqu Valuation Allowance
ValuationAllowance
-3147 usd
CY2023Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
144680 usd
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
-257656 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
253265 usd
us-gaap Net Income Loss
NetIncomeLoss
-103471 usd
us-gaap Net Income Loss
NetIncomeLoss
716172 usd
CY2024Q3 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
196404 usd
CY2024Q3 aqu Net Loss Including Accretion Of Common Stock To Redemption Value
NetLossIncludingAccretionOfCommonStockToRedemptionValue
-454060 usd
CY2023Q3 aqu Net Loss Including Accretion Of Common Stock To Redemption Value
NetLossIncludingAccretionOfCommonStockToRedemptionValue
-421942 usd
aqu Net Loss Including Accretion Of Common Stock To Redemption Value
NetLossIncludingAccretionOfCommonStockToRedemptionValue
-429927 usd
aqu Net Loss Including Accretion Of Common Stock To Redemption Value
NetLossIncludingAccretionOfCommonStockToRedemptionValue
-8917794 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Concentration of Credit Risk</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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 September 30, 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.</p>
us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
250000 usd
aqu Common Stock Subject To Possible Redemption
CommonStockSubjectToPossibleRedemption
326456 usd
CY2021Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
25000 usd
CY2021Q2 aqu Share Issued And Outstanding Percentage
ShareIssuedAndOutstandingPercentage
0.20 pure
aqu Subject To Certain Limited Exceptions Percentage
SubjectToCertainLimitedExceptionsPercentage
0.50 pure
aqu Trading Day Period Commencing Threshold
TradingDayPeriodCommencingThreshold
P20D
aqu Trading Day Period Commencing After The Business Combination
TradingDayPeriodCommencingAfterTheBusinessCombination
P30D
CY2023Q2 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
99846 usd
CY2024Q1 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
97052 usd
CY2024Q3 us-gaap Accounts Payable And Other Accrued Liabilities
AccountsPayableAndOtherAccruedLiabilities
138665 usd
CY2023Q4 us-gaap Accounts Payable And Other Accrued Liabilities
AccountsPayableAndOtherAccruedLiabilities
97052 usd
us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
97052 usd
CY2024Q2 us-gaap Notes Payable
NotesPayable
20000 usd
CY2024Q2 us-gaap Notes Payable
NotesPayable
20000 usd
CY2024Q3 us-gaap Notes Payable
NotesPayable
20000 usd
us-gaap Shortterm Debt Average Outstanding Amount
ShorttermDebtAverageOutstandingAmount
760000 usd
CY2023 us-gaap Shortterm Debt Average Outstanding Amount
ShorttermDebtAverageOutstandingAmount
490000 usd
CY2024Q3 us-gaap Deposits
Deposits
20000 usd
CY2024Q3 us-gaap Deposits
Deposits
20000 usd
CY2024Q3 us-gaap Deposits
Deposits
20000 usd
aqu Underwriter Cash Discount
UnderwriterCashDiscount
812577 usd
aqu Deferred Fee Per Units
DeferredFeePerUnits
0.035 pure
aqu Deferred Underwriting Commissions Payable
DeferredUnderwritingCommissionsPayable
1896013 usd
CY2022Q4 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
100 usd
CY2024Q3 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
9109815 usd
CY2023Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
31960267 usd
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q4 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
usd
CY2023Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
usd
CY2024Q3 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
usd
CY2024Q3 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
usd
CY2023Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
usd
CY2024Q3 aqu Deferred Income Tax Benefit
DeferredIncomeTaxBenefit
usd
us-gaap Increase Decrease In Due To Other Related Parties
IncreaseDecreaseInDueToOtherRelatedParties
usd
aqu Proceeds From Promissory Note Huture
ProceedsFromPromissoryNoteHuture
usd
us-gaap Stock Issued1
StockIssued1
usd
CY2024Q3 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
usd
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
usd
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Central Index Key
EntityCentralIndexKey
0001861063

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