$BRZH
Breeze Holdings Acquisition Corp.

2022 Q3 Form 10-Q Financial Statement

#000156459022028971 Filed on August 10, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
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 $523.6K $100.0K $985.1K
YoY Change -11.48% -78.2% 347.06%
Operating Profit -$523.6K -$101.9K -$985.1K
YoY Change -11.48% -77.78% 347.06%
Interest Expense $813.00 $52.88K
YoY Change -94.4% 10962.76%
% of Operating Profit
Other Income/Expense, Net $1.987M $912.5K $3.553M
YoY Change -47.41% -181.01% -40.75%
Pretax Income $1.463M $810.6K $2.568M
YoY Change -54.29% -151.14% -55.55%
Income Tax $3.715K
% Of Pretax Income 0.25%
Net Earnings $1.459M $810.6K $2.568M
YoY Change -59.48% -151.14% -55.55%
Net Earnings / Revenue
Basic Earnings Per Share $0.20 $0.08 $0.18
Diluted Earnings Per Share $0.20 $0.08 $175.4K
COMMON SHARES
Basic Shares Outstanding 7.907M 10.50M 14.64M
Diluted Shares Outstanding 7.338M 10.50M 14.64M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $80.00 $0.00 $9.640K
YoY Change -99.16% -100.0% -97.21%
Cash & Equivalents $76.00 $1.239K $9.642K
Short-Term Investments
Other Short-Term Assets $253.0K $200.0K $101.6K
YoY Change 42.55% -1.17% -59.59%
Inventory
Prepaid Expenses $253.0K $168.4K
Receivables
Other Receivables
Total Short-Term Assets $253.0K $169.6K $111.3K
YoY Change 35.29% -54.09% -81.37%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $17.55M $49.40M $119.1M
YoY Change -84.97% -57.69% 2.04%
Other Assets
YoY Change
Total Long-Term Assets $17.55M $49.39M $119.1M
YoY Change -84.97% -57.7% 2.04%
TOTAL ASSETS
Total Short-Term Assets $253.0K $169.6K $111.3K
Total Long-Term Assets $17.55M $49.39M $119.1M
Total Assets $17.81M $49.56M $119.2M
YoY Change -84.77% -57.68% 1.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $890.6K $900.0K $1.258M
YoY Change 263.66% 256.03% 3210.21%
Accrued Expenses $0.00 $100.0K $249.3K
YoY Change -100.0% 0.83% 405.52%
Deferred Revenue
YoY Change
Short-Term Debt $1.422M $900.0K $281.0K
YoY Change
Long-Term Debt Due $2.396M $2.321M
YoY Change
Total Short-Term Liabilities $4.712M $4.165M $4.114M
YoY Change 941.52% 837.32% 1824.29%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $846.3K $2.800M $3.609M
YoY Change -90.44% -77.84% -68.65%
Total Long-Term Liabilities $846.3K $2.800M $3.609M
YoY Change -90.44% -77.84% -68.65%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.712M $4.165M $4.114M
Total Long-Term Liabilities $846.3K $2.800M $3.609M
Total Liabilities $5.559M $6.927M $7.722M
YoY Change -40.28% -47.03% -34.13%
SHAREHOLDERS EQUITY
Retained Earnings -$5.305M -$6.705M
YoY Change -44.49% -47.44%
Common Stock $315.00 $315.00
YoY Change 0.64%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$5.305M -$6.705M -$7.501M
YoY Change
Total Liabilities & Shareholders Equity $17.81M $49.56M $119.2M
YoY Change -84.77% -57.68% 1.62%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income $1.459M $810.6K $2.568M
YoY Change -59.48% -151.14% -55.55%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$1.382M -$720.0K -$276.8K
YoY Change 777.66% 302.64% -20.46%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $101.7M $69.81M -$1.150M
YoY Change
Cash From Investing Activities $101.7M $69.81M -$1.150M
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 -100.3M -69.09M 1.431M
YoY Change
NET CHANGE
Cash From Operating Activities -1.382M -720.0K -276.8K
Cash From Investing Activities 101.7M 69.81M -1.150M
Cash From Financing Activities -100.3M -69.09M 1.431M
Net Change In Cash -9.570K 0.000 4.239K
YoY Change -93.92% -100.0% -101.22%
FREE CASH FLOW
Cash From Operating Activities -$1.382M -$720.0K -$276.8K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<p style="margin-top:10pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of estimates</p> <p style="margin-top:10pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of the condensed financial statements in conformity with 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 revenues and expenses during the reporting period.</p> <p style="margin-top:10pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Concentration of credit risk</p> <p style="margin-top:10pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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 coverage of $250,000. The Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts.</p>
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FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersIntoLevel3
0
CY2021 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersIntoLevel3
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersOutOfLevel3
0
CY2020Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
17487000
CY2021Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease
5978000
CY2021Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
11509000
CY2021Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease
-1124000
CY2021Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
12633000
CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
7108500
CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease
3500000
CY2022Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
3608500
CY2022Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease
846250
CY2022Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
2762250
CY2022Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2022Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
99178
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-1585061
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-67663653
CY2022Q2 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
66260
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
3140000
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
3140000

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