$BNZI
Banzai International Inc

2022 Q2 Form 10-Q Financial Statement

#000121390022047414 Filed on August 12, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1 2021 Q4
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $298.8K $389.0K $609.6K
YoY Change -78.71% -7.38%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $298.8K $389.0K $609.6K
YoY Change -78.71% -7.38%
Operating Profit -$298.8K -$389.0K
YoY Change -78.71%
Interest Expense $3.158M $7.062M -$486.2K
YoY Change -209.07% -38.38%
% of Operating Profit
Other Income/Expense, Net $0.00 $0.00
YoY Change
Pretax Income $2.859M $6.673M -$1.096M
YoY Change -166.51% -39.56%
Income Tax $11.06K
% Of Pretax Income 0.39%
Net Earnings $2.848M $6.673M -$1.096M
YoY Change -166.25% -39.58%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share $99.06K $232.1K -$38.12K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q2 2022 Q1 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $236.2K $478.5K $711.7K
YoY Change -75.88% -68.1%
Cash & Equivalents $236.2K $478.5K $711.7K
Short-Term Investments
Other Short-Term Assets $168.7K $253.6K $264.2K
YoY Change -61.15% -49.29%
Inventory
Prepaid Expenses $168.7K $264.2K
Receivables $74.73K
Other Receivables
Total Short-Term Assets $404.8K $732.1K $975.8K
YoY Change -71.36% -63.4%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill $2.172M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $230.4M $230.0M $230.0M
YoY Change 0.15% 0.02%
Total Long-Term Assets $230.4M $230.0M $230.0M
YoY Change 0.15% 0.02%
TOTAL ASSETS
Total Short-Term Assets $404.8K $732.1K $975.8K
Total Long-Term Assets $230.4M $230.0M $230.0M
Total Assets $230.8M $230.8M $231.0M
YoY Change -0.28% -0.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $349.8K $425.1K $342.5K
YoY Change 1398.63%
Accrued Expenses $977.9K $1.017M $1.004M
YoY Change -2.58% 408.53%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.648M $1.666M $1.520M
YoY Change 49.79% 455.21%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $9.747M $12.57M $19.62M
YoY Change -61.55% -43.87%
Total Long-Term Liabilities $9.747M $12.57M $19.62M
YoY Change -61.55% -43.87%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.648M $1.666M $1.520M
Total Long-Term Liabilities $9.747M $12.57M $19.62M
Total Liabilities $11.39M $14.24M $21.14M
YoY Change -56.92% -37.55%
SHAREHOLDERS EQUITY
Retained Earnings -$10.62M -$20.14M
YoY Change
Common Stock $0.00 $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$10.62M -$13.47M -$20.14M
YoY Change
Total Liabilities & Shareholders Equity $230.8M $230.8M $231.0M
YoY Change -0.28% -0.53%

Cashflow Statement

Concept 2022 Q2 2022 Q1 2021 Q4
OPERATING ACTIVITIES
Net Income $2.848M $6.673M -$1.096M
YoY Change -166.25% -39.58%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$242.4K -$163.1K -$146.5K
YoY Change -57.11% -9.37%
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 -70.00K
YoY Change
NET CHANGE
Cash From Operating Activities -242.4K -163.1K -146.5K
Cash From Investing Activities
Cash From Financing Activities 0.000 -70.00K
Net Change In Cash -242.4K -233.1K -146.5K
YoY Change -57.11% 29.52%
FREE CASH FLOW
Cash From Operating Activities -$242.4K -$163.1K -$146.5K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2022-06-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2022
dei Document Transition Report
DocumentTransitionReport
false
dei Entity Registrant Name
EntityRegistrantName
7GC & Co. Holdings Inc.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity File Number
EntityFileNumber
001-39826
dei Entity Address Address Line1
EntityAddressAddressLine1
388 Market Street
dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 1300
dei Entity Address City Or Town
EntityAddressCityOrTown
San Francisco
dei Entity Address State Or Province
EntityAddressStateOrProvince
CA
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
94111
dei City Area Code
CityAreaCode
(628)
dei Local Phone Number
LocalPhoneNumber
400-9284
dei Security12b Title
Security12bTitle
Shares of Class A Common Stock, par value $0.0001 per share
dei Trading Symbol
TradingSymbol
VII
dei Security Exchange Name
SecurityExchangeName
NASDAQ
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
dei Entity Ex Transition Period
EntityExTransitionPeriod
false
dei Entity Shell Company
EntityShellCompany
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vii Minimum Percentage Specified For Aggregate Fair Market Value Of Assets Held In Trust Account
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vii Threshold Percentage Of Outstanding Voting Securities In Business Combination
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CY2022Q2 vii Minimum Amount Of Net Tangible Assets For Business Combination
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us-gaap Public Utilities Approved Return On Equity Percentage
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vii Dissolution Expenses
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CY2022Q2 us-gaap Shares Issued Price Per Share
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vii Trust Account Description
TrustAccountDescription
The Sponsor has agreed that it will be liable to the Company if and to the extent any claims by a third party for services rendered or products sold to the Company, or a prospective target business with which the Company has entered into a written letter of intent, confidentiality or similar agreement or business combination agreement, reduce the amount of funds in the Trust Account to below the lesser of (i) $10.00 per public share and (ii) the actual amount per public share held in the Trust Account as of the day of liquidation of the Trust Account, if less than $10.00 per share due to reductions in the value of the trust assets, less taxes payable, provided that such liability will not apply to any claims by a third party or prospective target business who executed a waiver of any and all rights to monies held in the Trust Account (whether or not such waiver is enforceable) nor will it apply to any claims under the Company’s indemnity of the underwriters of the Initial Public Offering against certain liabilities, including liabilities under the Securities Act of 1933, as amended (the “Securities Act”).
CY2022Q2 vii Operating Cash Account
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vii Working Capital
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vii Underwriting Discount Percentage
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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 0pt 10pt; text-align: justify; text-indent: -10pt"><b><i>Use of Estimates</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of unaudited condensed 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 unaudited condensed financial statements and the reported amounts of revenues and expenses during the reporting period. 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 unaudited condensed financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. One of the most significant accounting estimates included in these unaudited condensed financial statements is the determination of the fair value of the warrant liabilities. Such estimates may be subject to change as more current information becomes available and accordingly the actual results could differ significantly from those estimates. Actual results could differ from those estimates.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10pt; text-align: justify; text-indent: -10pt"><b><i> </i></b></p>
us-gaap Concentration Risk Credit Risk
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10pt; text-align: justify; text-indent: -10pt"><b><i>Concentration of Credit Risk</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </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 cash accounts in a financial institution, which, at times, may exceed the Federal Deposit Insurance Corporation limit of $250,000, and any investments held in the Trust Account. As of June 30, 2022 and December 31, 2021, the Company had not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts. The Company’s investments held in the Trust Account as of June 30, 2022 and December 31, 2021 are comprised of investments in U.S. Treasury securities with an original maturity of 185 days or less or investments in money market funds that comprise only U.S. treasury securities money market funds.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
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vii Initial Public Offering Description
InitialPublicOfferingDescription
Each Unit consists of one share of Class A common stock, and one-half of one redeemable warrant (each, a “Public Warrant”). Each Public Warrant entitles the holder to purchase one share of Class A common stock at a price of $11.50 per share, subject to adjustment (see Note 8).
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vii Warrants Exercise Price Description
WarrantsExercisePriceDescription
The warrants have an exercise price of $11.50 per share, subject to adjustments, and will expire five years from the consummation of a Business Combination or earlier upon redemption or liquidation. The exercise price and number of shares of Class A common stock issuable upon exercise of the warrants may be adjusted in certain circumstances including in the event of a share dividend, or recapitalization, reorganization, merger or consolidation. In addition, if (x) the Company issues additional shares of Class A common stock or equity-linked securities for capital raising purposes in connection with the closing of its initial Business Combination at an issue price or effective issue price of less than $9.20 per share of Class A common stock (with such issue price or effective issue price to be determined in good faith by the Company’s board of directors and, in the case of any such issuance to the Sponsor or its affiliates, without taking into account any Founder Shares held by the Sponsor or such affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of the Company’s initial Business Combination on the date of the consummation of such initial Business Combination (net of redemptions), and (z) the volume weighted average trading price of the Company’s common stock during the 20 trading day period starting on the trading day prior to the day on which the Company consummates its initial Business Combination (such price, the “Market Value”) is below $9.20 per share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price, and the $18.00 per share redemption trigger price described below will be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly Issued Price. 
vii Warrants Exercisable Description
WarrantsExercisableDescription
Once the Warrants become exercisable, the Company may redeem the outstanding Warrants (except for the Private Placement Warrants):  ●in whole and not in part;   ●at a price of $0.01 per Warrant;   ●upon a minimum of 30 days’ prior written notice of redemption (the “30-day redemption period”); and  ●if, and only if, the last reported sale price of the Class A common stock equals or exceeds $18.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading day period commencing once the Warrants become exercisable and ending on the third trading day prior to the date on which the Company sends the notice of redemption to the warrant holders.
CY2022Q2 us-gaap Preferred Stock Shares Authorized
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.025 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.057 pure
CY2022Q2 us-gaap Share Price
SharePrice
9.84
CY2021Q4 us-gaap Share Price
SharePrice
9.76
vii Fair Value Measurements Term
FairValueMeasurementsTerm
P0Y4M17D
CY2021 vii Fair Value Measurements Term
FairValueMeasurementsTerm
P0Y6M
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0302 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0131 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
vii Derivative Warrant Liabilities
DerivativeWarrantLiabilities
25856500 usd
vii Change In Fair Value Of Derivative Warrant Liabilities
ChangeInFairValueOfDerivativeWarrantLiabilities
-11457000 usd
vii Transfer Of Public Warrants To Level1
TransferOfPublicWarrantsToLevel1
-8740000 usd
vii Derivative Warrant Liabilities At March31
DerivativeWarrantLiabilitiesAtMarch31
5659500 usd
vii Change In Fair Value Of Derivative Warrant Liability
ChangeInFairValueOfDerivativeWarrantLiability
1176000 usd
vii Derivative Warrant Liabilitiesone
DerivativeWarrantLiabilitiesone
6835500 usd
us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
usd
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
usd
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
usd
CY2022Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
shares
CY2022Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
shares
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Central Index Key
EntityCentralIndexKey
0001826011

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0001213900-22-047414.txt Edgar Link pending
0001213900-22-047414-xbrl.zip Edgar Link pending
f10q0622ex31-1_7gc.htm Edgar Link pending
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f10q0622ex32-1_7gc.htm Edgar Link pending
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vii-20220630_cal.xml Edgar Link unprocessable
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