$BRAC
Broad Capital Acquisition Corp

2024 Q4 Form 10-Q Financial Statement

#000149315224044706 Filed on November 12, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue
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
YoY Change
Operating Profit -$219.0K
YoY Change -66.95%
Interest Expense $67.31K
YoY Change 84.32%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$72.09K
YoY Change 15.26%
Income Tax $36.59K
% Of Pretax Income
Net Earnings -$108.7K
YoY Change -41.49%
Net Earnings / Revenue
Basic Earnings Per Share -$0.02
Diluted Earnings Per Share -$0.02
COMMON SHARES
Basic Shares Outstanding 2.991M shares 2.991M shares
Diluted Shares Outstanding 4.709M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $20.19M
YoY Change -59.38%
Cash & Equivalents $30.68K
Short-Term Investments $20.16M
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses $20.25K
Receivables
Other Receivables
Total Short-Term Assets $50.93K
YoY Change 337.77%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $20.16M
YoY Change -59.43%
TOTAL ASSETS
Total Short-Term Assets $50.93K
Total Long-Term Assets $20.16M
Total Assets $20.21M
YoY Change -59.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $741.9K
YoY Change -9.76%
Accrued Expenses $2.017M
YoY Change 100.24%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $8.826M
YoY Change 63.87%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $8.826M
Total Long-Term Liabilities
Total Liabilities $12.38M
YoY Change 38.47%
SHAREHOLDERS EQUITY
Retained Earnings -$11.57M
YoY Change 41.41%
Common Stock $3.00
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$11.57M
YoY Change
Total Liabilities & Shareholders Equity $20.21M
YoY Change -59.34%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$108.7K
YoY Change -41.49%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
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
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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dei Entity File Number
EntityFileNumber
001-41212
dei Entity Registrant Name
EntityRegistrantName
BROAD CAPITAL ACQUISITION CORP
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
86-3382967
dei Entity Address City Or Town
EntityAddressCityOrTown
Dallas
dei Entity Address State Or Province
EntityAddressStateOrProvince
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EntityAddressPostalZipCode
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dei City Area Code
CityAreaCode
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dei Local Phone Number
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951-3088
dei Entity Current Reporting Status
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SharesIssuedPricePerShare
10.10
CY2024Q3 BRAC Business Combination Condition Minimum Tangible Assets
BusinessCombinationConditionMinimumTangibleAssets
5000001 usd
CY2024Q3 BRAC Percentage Of The Public Shareholding To Be Redeemed In Case The Business Combination Is Not Consummated
PercentageOfThePublicShareholdingToBeRedeemedInCaseTheBusinessCombinationIsNotConsummated
1 pure
CY2023Q1 us-gaap Stock Redeemed Or Called During Period Shares
StockRedeemedOrCalledDuringPeriodShares
4227461 shares
CY2023Q1 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
5931608 shares
CY2024Q3 us-gaap Liquidation Basis Of Accounting Accrued Costs To Dispose Of Assets And Liabilities
LiquidationBasisOfAccountingAccruedCostsToDisposeOfAssetsAndLiabilities
100000 usd
CY2023Q2 BRAC Extension Loan
ExtensionLoan
150000 usd
CY2023Q1 BRAC Extension Loan
ExtensionLoan
150000 usd
CY2023Q4 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
4522582 shares
CY2024Q1 BRAC Extension Loan
ExtensionLoan
150000 usd
CY2024Q1 us-gaap Stock Redeemed Or Called During Period Shares
StockRedeemedOrCalledDuringPeriodShares
2804919 shares
CY2024Q1 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
11.23
CY2024Q1 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
31200000 usd
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
30680 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
15282 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
25000 usd
CY2022Q1 us-gaap Repayments Of Debt
RepaymentsOfDebt
133533 usd
CY2024Q3 BRAC Working Capital Loan
WorkingCapitalLoan
1088861 usd
CY2024Q3 us-gaap Loans Payable Current
LoansPayableCurrent
3323628 usd
CY2024Q3 us-gaap Increase Decrease In Notes Payable Current
IncreaseDecreaseInNotesPayableCurrent
180000 usd
CY2024Q2 BRAC Extension Loan
ExtensionLoan
3143628 usd
CY2024Q3 us-gaap Payments For Loans
PaymentsForLoans
60000 usd
CY2024Q3 us-gaap Payments For Loans
PaymentsForLoans
60000 usd
CY2024Q3 us-gaap Payments For Loans
PaymentsForLoans
60000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84E_eus-gaap--UseOfEstimates_zCrkk23aL4V1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86D_zcTgOQ737be8">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of 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 financial statements and the reported amounts of revenues and expenses during the reporting period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><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 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q3 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2023Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2024Q3 us-gaap Marketable Securities
MarketableSecurities
20160402 usd
CY2023Q4 us-gaap Marketable Securities
MarketableSecurities
50772949 usd
BRAC Franchise Tax Expenses
FranchiseTaxExpenses
120000 usd
BRAC Franchise Tax Expenses
FranchiseTaxExpenses
179206 usd
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.1381 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
4.1286 pure
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
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
124495 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
400849 usd
CY2024Q3 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
759369 usd
CY2023Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
634874 usd
CY2022Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.01 pure
CY2022Q3 BRAC Excise Tax Rate Percentage
ExciseTaxRatePercentage
0.01 pure
CY2024Q3 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
895904 usd
CY2023Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
584031 usd
CY2024Q3 BRAC Business Combination Condition Minimum Tangible Assets
BusinessCombinationConditionMinimumTangibleAssets
5000001 usd
CY2024Q3 BRAC Additional Common Stock Subject To Possible Redemption Per Share
AdditionalCommonStockSubjectToPossibleRedemptionPerShare
10.15
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_849_eus-gaap--ConcentrationRiskCreditRisk_zWIfmY6OKhfe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_860_zvoiG2Ks3W01">Concentration of Credit Risk</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><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_904_eus-gaap--CashFDICInsuredAmount_iI_pp0p0_c20240930_zVPH00ntDsG7" title="Federal depository insurance coverage amount">250,000</span>. As of September 30, 2024 and December 31, 2023, the Company had not experienced 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: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q3 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2024Q3 BRAC Working Capital Loan
WorkingCapitalLoan
1088861 usd
CY2023Q4 BRAC Working Capital Loan
WorkingCapitalLoan
754748 usd
CY2023Q1 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
0.0625
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Convertible Debt With Conversion Feature
AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature
370726 usd
CY2024Q3 us-gaap Loans Payable Current
LoansPayableCurrent
3323628 usd
CY2023Q4 us-gaap Loans Payable Current
LoansPayableCurrent
2903628 usd
BRAC Servicer Fees
ServicerFees
90000 usd
BRAC Servicer Fees
ServicerFees
90000 usd
CY2024Q3 BRAC Service Accrued Expense Due
ServiceAccruedExpenseDue
320000 usd
CY2023Q4 BRAC Service Accrued Expense Due
ServiceAccruedExpenseDue
230000 usd
CY2024Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2024Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.000001
us-gaap Common Stock Voting Rights
CommonStockVotingRights
Holders of the Company’s common stock are entitled to one vote for each share
CY2024Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
2990897 shares
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
2990897 shares
CY2024Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
2990897 shares
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
2990897 shares
CY2024Q3 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
1717663 shares
CY2023Q4 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
4522582 shares
CY2024Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2024Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.000001
CY2024Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2024Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
BRAC Public Right Description
PublicRightDescription
Except in cases where the Company is not the surviving company in a Business Combination, each holder of a Public Right will automatically receive one-tenth (1/10) of one share of common stock upon consummation of a Business Combination, even if the holder of a Public Right converted all shares held by him, her or it in connection with a Business Combination or an amendment to the Company’s Amended and Restated Certificate of Incorporation with respect to its pre-business combination activities. In the event that the Company will not be the surviving company upon completion of a Business Combination, each holder of a Public Right will be required to affirmatively convert his, her or its rights in order to receive the one-tenth (1/10) of a share underlying each Public Right upon consummation of the Business Combination.

Files In Submission

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brac-20240930.xsd Edgar Link pending
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