2024 Q2 Form 10-K Financial Statement
#000149315224014684 Filed on April 15, 2024
Income Statement
Concept | 2024 Q2 | 2023 Q4 | 2023 |
---|---|---|---|
Revenue | $0.00 | $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 | $290.5K | $723.1K | $1.189M |
YoY Change | 107.05% | 92601.28% | 151568.49% |
Operating Profit | |||
YoY Change | |||
Interest Expense | $675.8K | $951.4K | $3.130M |
YoY Change | -19.54% | ||
% of Operating Profit | |||
Other Income/Expense, Net | |||
YoY Change | |||
Pretax Income | $385.4K | $228.3K | $1.941M |
YoY Change | -44.95% | -29367.95% | -248961.54% |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | $385.4K | $228.3K | $1.941M |
YoY Change | -45.07% | -29367.95% | -247691.58% |
Net Earnings / Revenue | |||
Basic Earnings Per Share | |||
Diluted Earnings Per Share | $0.06 | $0.03 | $0.22 |
COMMON SHARES | |||
Basic Shares Outstanding | 6.873M shares | 9.034M shares | |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2024 Q2 | 2023 Q4 | 2023 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $1.470K | $15.05K | $15.05K |
YoY Change | -98.87% | ||
Cash & Equivalents | $1.473K | $15.05K | |
Short-Term Investments | |||
Other Short-Term Assets | $62.82K | $43.05K | $43.05K |
YoY Change | -37.18% | -92.74% | -92.74% |
Inventory | |||
Prepaid Expenses | $62.82K | $43.05K | |
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $64.30K | $58.11K | $58.11K |
YoY Change | -71.72% | -90.19% | -90.19% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | |||
YoY Change | |||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | $52.55M | $74.06M | $74.06M |
YoY Change | -26.83% | ||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $52.55M | $74.06M | $74.06M |
YoY Change | -26.82% | ||
TOTAL ASSETS | |||
Total Short-Term Assets | $64.30K | $58.11K | $58.11K |
Total Long-Term Assets | $52.55M | $74.06M | $74.06M |
Total Assets | $52.62M | $74.12M | $74.12M |
YoY Change | -26.96% | 12408.28% | 12408.28% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | |||
YoY Change | |||
Accrued Expenses | $1.018M | $649.6K | $649.6K |
YoY Change | 475.66% | 230.07% | 230.06% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $1.043M | $690.0K | $690.0K |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $2.510M | $1.539M | $1.539M |
YoY Change | 1319.19% | 166.54% | 166.54% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $2.415M | $2.415M | $2.415M |
YoY Change | -0.21% | ||
Total Long-Term Liabilities | $2.415M | $2.415M | $2.415M |
YoY Change | -0.21% | ||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $2.510M | $1.539M | $1.539M |
Total Long-Term Liabilities | $2.415M | $2.415M | $2.415M |
Total Liabilities | $4.925M | $3.954M | $3.954M |
YoY Change | 90.03% | 584.81% | 584.81% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$4.861M | -$3.896M | |
YoY Change | 105.58% | 39647.14% | |
Common Stock | $214.00 | $214.00 | |
YoY Change | 0.0% | 23.7% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$4.861M | -$3.896M | $70.17M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $52.62M | $74.12M | $74.12M |
YoY Change | -26.96% | 12408.28% | 12408.28% |
Cashflow Statement
Concept | 2024 Q2 | 2023 Q4 | 2023 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $385.4K | $228.3K | $1.941M |
YoY Change | -45.07% | -29367.95% | -247691.58% |
Depreciation, Depletion And Amortization | |||
YoY Change | |||
Cash From Operating Activities | -$10.45K | -$46.06K | -$376.1K |
YoY Change | -65.17% | ||
INVESTING ACTIVITIES | |||
Capital Expenditures | |||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$165.0K | -$692.0K | -$70.93M |
YoY Change | |||
Cash From Investing Activities | -$165.0K | -$692.0K | -$70.93M |
YoY Change | |||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $69.00M | ||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 167.5K | 693.1K | $71.32M |
YoY Change | -658.33% | ||
NET CHANGE | |||
Cash From Operating Activities | -10.45K | -46.06K | -$376.1K |
Cash From Investing Activities | -165.0K | -692.0K | -$70.93M |
Cash From Financing Activities | 167.5K | 693.1K | $71.32M |
Net Change In Cash | -7.950K | -44.95K | $15.05K |
YoY Change | -86.75% | ||
FREE CASH FLOW | |||
Cash From Operating Activities | -$10.45K | -$46.06K | -$376.1K |
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
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|
40802 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-376057 | usd |
CY2023 | us-gaap |
Payments To Acquire Investments
PaymentsToAcquireInvestments
|
70242000 | usd |
CY2023 | us-gaap |
Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
|
71915996 | usd |
CY2023 | ATMC |
Payment For Purchase Of Investments In Trust Account
PaymentForPurchaseOfInvestmentsInTrustAccount
|
72605996 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-70932000 | usd |
CY2023 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
69000000 | usd |
CY2023 | us-gaap |
Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
|
4092000 | usd |
CY2023 | ATMC |
Proceeds From Issuance Of Promissory Notes
ProceedsFromIssuanceOfPromissoryNotes
|
690000 | usd |
CY2023 | ATMC |
Payment Of Underwriting Discount
PaymentOfUnderwritingDiscount
|
1612500 | usd |
CY2023 | us-gaap |
Proceeds From Stock Plans
ProceedsFromStockPlans
|
100 | usd |
CY2023 | us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
368066 | usd |
CY2023 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
478423 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
71323111 | usd |
CY2023 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
15054 | usd |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
15054 | usd |
CY2023 | ATMC |
Deferred Offering Costs Included In Accrued Expenses
DeferredOfferingCostsIncludedInAccruedExpenses
|
3640 | usd |
CY2022 | ATMC |
Deferred Offering Costs Included In Accrued Expenses
DeferredOfferingCostsIncludedInAccruedExpenses
|
117843 | usd |
CY2023 | ATMC |
Deferred Offering Costs Paid By Related Party
DeferredOfferingCostsPaidByRelatedParty
|
13429 | usd |
CY2022 | ATMC |
Deferred Offering Costs Paid By Related Party
DeferredOfferingCostsPaidByRelatedParty
|
47834 | usd |
CY2023 | ATMC |
Deferred Offering Costs Adjusted From Prepaid Expenses
DeferredOfferingCostsAdjustedFromPrepaidExpenses
|
60 | usd |
CY2022 | ATMC |
Deferred Offering Costs Adjusted From Prepaid Expenses
DeferredOfferingCostsAdjustedFromPrepaidExpenses
|
414 | usd |
CY2023 | ATMC |
Deferred Offering Costs Charged To Apic
DeferredOfferingCostsChargedToApic
|
865199 | usd |
CY2023 | ATMC |
Deferred Offering Cost Related To Fair Value Of Unit Purchase Option Net Of Proceeds
DeferredOfferingCostRelatedToFairValueOfUnitPurchaseOptionNetOfProceeds
|
10681 | usd |
CY2023 | ATMC |
Allocation Of Offering Costs To Ordinary Shares Subject To Redemption
AllocationOfOfferingCostsToOrdinarySharesSubjectToRedemption
|
4770382 | usd |
CY2023 | ATMC |
Reclassification Of Ordinary Shares Subject To Redemption
ReclassificationOfOrdinarySharesSubjectToRedemption
|
67274310 | usd |
CY2023 | ATMC |
Remeasurement Adjustment On Ordinary Shares Subject To Possible Redemption
RemeasurementAdjustmentOnOrdinarySharesSubjectToPossibleRedemption
|
8427382 | usd |
CY2023 | ATMC |
Subsequent Measurement Of Ordinary Shares Subject To Possible Redemption Income Earned On Trust Account
SubsequentMeasurementOfOrdinarySharesSubjectToPossibleRedemptionIncomeEarnedOnTrustAccount
|
3130199 | usd |
CY2023 | ATMC |
Deferred Underwriting Commission Charged To Apic
DeferredUnderwritingCommissionChargedToApic
|
2415000 | usd |
CY2023 | dei |
Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
|
2021-09-15 | |
CY2023Q1 | us-gaap |
Sale Of Stock Consideration Received Per Transaction
SaleOfStockConsiderationReceivedPerTransaction
|
70242000 | usd |
CY2023Q4 | us-gaap |
Cash
Cash
|
15054 | usd |
CY2023Q4 | ATMC |
Working Capital
WorkingCapital
|
-1480801 | usd |
CY2023Q4 | us-gaap |
Loans Payable
LoansPayable
|
690000 | usd |
CY2023Q4 | us-gaap |
Payments For Deposits
PaymentsForDeposits
|
55000 | usd |
CY2023Q4 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
2160774 | shares |
CY2023Q4 | us-gaap |
Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
|
23302146 | usd |
CY2023Q4 | us-gaap |
Temporary Equity Redemption Price Per Share
TemporaryEquityRedemptionPricePerShare
|
10.78 | |
CY2023Q4 | us-gaap |
Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
|
51108602 | usd |
CY2023Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
6873426 | shares |
CY2023Q1 | us-gaap |
Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
|
70242000 | usd |
CY2023 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_846_eus-gaap--UseOfEstimates_zVyBR2bYXGse" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_868_zjaWMuoiHym4">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statement in conformity with U.S. 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 expenses during the reporting period. Accordingly, the actual results could differ significantly from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2022Q4 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
0 | usd |
CY2023 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p id="xdx_849_eus-gaap--ConcentrationRiskCreditRisk_zBcB9ndZQuK7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86E_zzJQ5xd3ET7h">Concentration of Credit Risk</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><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_90D_eus-gaap--CashFDICInsuredAmount_iI_c20231231_zejXxhfsecC2" title="Cash, FDIC insured amount">250,000</span>. On December 31, 2023, the Company did not experience 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2023Q4 | us-gaap |
Cash Fdic Insured Amount
CashFDICInsuredAmount
|
250000 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
1941118 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-784 | usd |
CY2023 | us-gaap |
Investment Income Nonoperating
InvestmentIncomeNonoperating
|
3130199 | usd |
CY2023 | us-gaap |
Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
|
8427382 | usd |
CY2023 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-9616463 | usd |
CY2022 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-784 | usd |
CY2023Q4 | us-gaap |
Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
|
0 | usd |
CY2022Q4 | us-gaap |
Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
|
0 | usd |
CY2023Q1 | us-gaap |
Sale Of Stock Consideration Received Per Transaction
SaleOfStockConsiderationReceivedPerTransaction
|
70242000 | usd |
CY2023Q1 | us-gaap |
Shares Issued Price Per Share
SharesIssuedPricePerShare
|
10.18 | |
CY2023Q1 | us-gaap |
Sale Of Stock Description Of Transaction
SaleOfStockDescriptionOfTransaction
|
The Founder Shares and Private Units (and underlying securities) will not, subject to certain exceptions, be transferred, assigned, sold or released from escrow in the case of (i) 50% of the Founder Shares and Private Units (and underlying securities) until the earlier to occur of: (A) six months after the date of the consummation of our initial business combination, or (B) the date on which the closing price of our ordinary shares equals or exceeds $12.50 per share (as adjusted for share splits, share dividends, reorganizations and recapitalizations) for any 20 trading days within any 30-trading day period commencing after our initial business combination and (ii) the remaining 50% of the Founder Shares and Private Units (and underlying securities) until six months after the date of the consummation of our initial business combination, or earlier, in either case, if, subsequent to our initial business combination, we consummate a subsequent liquidation, merger, stock exchange or other similar transaction which results in all of our shareholders having the right to exchange their shares for cash, securities or other property. | |
CY2022 | us-gaap |
Administrative Fees Expense
AdministrativeFeesExpense
|
120000 | usd |
CY2023Q1 | us-gaap |
Payments For Underwriting Expense
PaymentsForUnderwritingExpense
|
1500000 | usd |
CY2023Q1 | us-gaap |
Payments For Underwriting Expense
PaymentsForUnderwritingExpense
|
112500 | usd |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Description
ShareBasedCompensationArrangementByShareBasedPaymentAwardDescription
|
The option and the 58,000 Units, as well as the 58,000 ordinary shares, the warrants to purchase 58,000 ordinary shares that may be issued upon exercise of the option and the rights to purchase 5,800 ordinary shares upon the completion of an initial business combination, have been deemed compensation by FINRA and are therefore subject to a lock-up for a period of 180 days immediately following the commencement of sales in our IPO pursuant to Rule 5110(e)(1) of FINRA’s Rules, during which time the option may not be sold, transferred, assigned, pledged or hypothecated, or be subject of any hedging, short sale, derivative or put or call transaction that would result in the economic disposition of the securities, except as permitted under FINRA Rule 5110(e)(2). The Company determined fair value of the Unit Purchase Option issued to the underwriters and recorded an amount to additional paid-in capital, net of purchased cost, in the balance sheets on the day of the IPO which is the grant date. | |
CY2022Q4 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
58000 | usd |
CY2022Q4 | us-gaap |
Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight
|
58000 | shares |
CY2022Q4 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
5800 | shares |
CY2023Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | shares |
CY2023Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2023Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2022Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2023Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2022Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2022Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
200000000 | shares |
CY2022Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
CY2022Q1 | us-gaap |
Common Stock Voting Rights
CommonStockVotingRights
|
Holders of ordinary shares are entitled to one vote for each share. Further, the shareholders also approved the amendment and restatement of the memorandum and articles of association filed with the Cayman Registrar. | |
CY2023Q1 | us-gaap |
Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
|
115500 | shares |
CY2023Q1 | us-gaap |
Shares Issued Price Per Share
SharesIssuedPricePerShare
|
2.00 | |
CY2023Q1 | us-gaap |
Sale Of Stock Consideration Received Per Transaction
SaleOfStockConsiderationReceivedPerTransaction
|
231000 | usd |
CY2023Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
2134200 | shares |
CY2023Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
2134200 | shares |
CY2023Q4 | us-gaap |
Temporary Equity Shares Issued
TemporaryEquitySharesIssued
|
6900000 | shares |
CY2022Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
1725000 | shares |
CY2022Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
1725000 | shares |
CY2023Q4 | us-gaap |
Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
|
74062199 | usd |
CY2023Q4 | us-gaap |
Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
|
74062199 | usd |