2024 Q3 Form 10-Q Financial Statement
#000192998024000358 Filed on August 15, 2024
Income Statement
Concept | 2024 Q3 | 2024 Q2 | 2023 Q2 |
---|---|---|---|
Revenue | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $0.00 | $130.0K | |
YoY Change | |||
% of Gross Profit | |||
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | |||
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | $444.5K | $238.0K | $130.0K |
YoY Change | 74.21% | 83.08% | |
Operating Profit | -$444.5K | -$238.0K | -$129.4K |
YoY Change | 74.22% | 83.89% | |
Interest Expense | $444.2K | $789.8K | $0.00 |
YoY Change | -39.82% | ||
% of Operating Profit | |||
Other Income/Expense, Net | $1.540M | ||
YoY Change | |||
Pretax Income | -$320.00 | $551.8K | -$130.0K |
YoY Change | -100.07% | -524.47% | |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$323.00 | $551.8K | -$129.3K |
YoY Change | -100.07% | -526.85% | |
Net Earnings / Revenue | |||
Basic Earnings Per Share | |||
Diluted Earnings Per Share | $0.00 | $0.07 | -$0.09 |
COMMON SHARES | |||
Basic Shares Outstanding | 4.941M shares | 7.762M shares | |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2024 Q3 | 2024 Q2 | 2023 Q2 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $215.8K | $54.47K | $680.0K |
YoY Change | -39.24% | -91.99% | |
Cash & Equivalents | $215.8K | $54.47K | $681.6K |
Short-Term Investments | |||
Other Short-Term Assets | $44.42K | $76.83K | $120.0K |
YoY Change | -65.17% | -35.98% | |
Inventory | |||
Prepaid Expenses | $44.42K | $76.83K | |
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $260.2K | $131.3K | $800.0K |
YoY Change | -46.09% | -83.59% | |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | |||
YoY Change | |||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | $32.15M | $61.46M | $58.36M |
YoY Change | -45.61% | 5.3% | |
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $32.15M | $61.46M | $58.36M |
YoY Change | -45.61% | 5.3% | |
TOTAL ASSETS | |||
Total Short-Term Assets | $260.2K | $131.3K | $800.0K |
Total Long-Term Assets | $32.15M | $61.46M | $58.36M |
Total Assets | $32.41M | $61.59M | $59.16M |
YoY Change | -45.61% | 4.1% | |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $209.4K | $199.0K | $140.0K |
YoY Change | 43.09% | 42.15% | |
Accrued Expenses | |||
YoY Change | |||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $400.0K | $133.0K | $0.00 |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $1.336M | $362.5K | $150.0K |
YoY Change | 725.69% | 141.69% | |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $1.150M | $1.150M | $1.150M |
YoY Change | 0.0% | 0.0% | |
Total Long-Term Liabilities | $1.150M | $1.150M | $1.150M |
YoY Change | 0.0% | 0.0% | |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $1.336M | $362.5K | $150.0K |
Total Long-Term Liabilities | $1.150M | $1.150M | $1.150M |
Total Liabilities | $2.486M | $1.513M | $1.300M |
YoY Change | 89.51% | 16.35% | |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$2.226M | -$1.381M | -$147.5K |
YoY Change | 836.65% | ||
Common Stock | $202.00 | $202.00 | $202.00 |
YoY Change | 0.0% | 0.0% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$2.226M | -$1.381M | $9.747M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $32.41M | $61.59M | $59.16M |
YoY Change | -45.61% | 4.09% |
Cashflow Statement
Concept | 2024 Q3 | 2024 Q2 | 2023 Q2 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$323.00 | $551.8K | -$129.3K |
YoY Change | -100.07% | -526.85% | |
Depreciation, Depletion And Amortization | |||
YoY Change | |||
Cash From Operating Activities | -$401.7K | -$110.1K | -$180.0K |
YoY Change | 24.89% | -38.86% | |
INVESTING ACTIVITIES | |||
Capital Expenditures | |||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $29.75M | $0.00 | -$58.36M |
YoY Change | -1190242.0% | -100.0% | |
Cash From Investing Activities | $29.75M | $0.00 | -$58.36M |
YoY Change | -1190242.0% | -100.0% | |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -29.19M | 133.0K | 59.13M |
YoY Change | 3891973.33% | -99.78% | |
NET CHANGE | |||
Cash From Operating Activities | -401.7K | -110.1K | -180.0K |
Cash From Investing Activities | 29.75M | 0.000 | -58.36M |
Cash From Financing Activities | -29.19M | 133.0K | 59.13M |
Net Change In Cash | 161.3K | 22.95K | 590.0K |
YoY Change | -149.65% | -96.11% | |
FREE CASH FLOW | |||
Cash From Operating Activities | -$401.7K | -$110.1K | -$180.0K |
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">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.</p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; 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> | ||
us-gaap |
Concentration Risk Credit Risk
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; 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 Depository Insurance 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><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Furthermore, bank failures, non-performance, or other adverse developments that affect financial institutions could impair the ability of one or more of the banks participating in the credit facility from honoring their commitments. Such events could have a material adverse effect on the Company’s financial condition or results of operations.</p> | ||
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CY2023Q2 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
125350 | usd |
CY2023Q2 | bukit |
Underwriters Discount
UnderwritersDiscount
|
-3162500 | usd |
CY2023Q2 | us-gaap |
Other Expenses
OtherExpenses
|
1540024 | usd |
CY2023Q2 | bukit |
Reclassification Of Ordinary Shares Subject To Redemption Amount
ReclassificationOfOrdinarySharesSubjectToRedemptionAmount
|
-52350300 | usd |
CY2023Q2 | bukit |
Allocation Of Offering Costs To Ordinary Shares Subject To Redemption
AllocationOfOfferingCostsToOrdinarySharesSubjectToRedemption
|
4236160 | usd |
CY2023Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-129274 | usd |
CY2023Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
9746768 | usd |
us-gaap |
Profit Loss
ProfitLoss
|
1100267 | usd | |
us-gaap |
Profit Loss
ProfitLoss
|
-128984 | usd | |
bukit |
Dividend Income On Investments Held In Trust
DividendIncomeOnInvestmentsHeldInTrust
|
-1570964 | usd | |
bukit |
Dividend Income On Investments Held In Trust
DividendIncomeOnInvestmentsHeldInTrust
|
0 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
125350 | usd | |
us-gaap |
Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
|
0 | usd | |
us-gaap |
Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
|
70278 | usd | |
us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
24850 | usd | |
us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
-120000 | usd | |
bukit |
Increase Decrease In Due To Related Party Payable
IncreaseDecreaseInDueToRelatedPartyPayable
|
-8152 | usd | |
bukit |
Increase Decrease In Due To Related Party Payable
IncreaseDecreaseInDueToRelatedPartyPayable
|
0 | usd | |
us-gaap |
Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
|
80094 | usd | |
us-gaap |
Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
|
-51760 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-373905 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-105116 | usd | |
us-gaap |
Payments To Acquire Investments
PaymentsToAcquireInvestments
|
0 | usd | |
us-gaap |
Payments To Acquire Investments
PaymentsToAcquireInvestments
|
58362500 | usd | |
us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
0 | usd | |
us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
0 | usd | |
us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
0 | usd | |
us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
0 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
0 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-58362500 | usd | |
us-gaap |
Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
|
0 | usd | |
us-gaap |
Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
|
55487500 | usd | |
us-gaap |
Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
|
0 | usd | |
us-gaap |
Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
|
4243070 | usd | |
bukit |
Proceeds Fromissuance Of Related Party Debt
ProceedsFromissuanceOfRelatedPartyDebt
|
0 | usd | |
bukit |
Proceeds Fromissuance Of Related Party Debt
ProceedsFromissuanceOfRelatedPartyDebt
|
168135 | usd | |
bukit |
Repayments Ofissuance Of Related Party Debt
RepaymentsOfissuanceOFRelatedPartyDebt
|
0 | usd | |
bukit |
Repayments Ofissuance Of Related Party Debt
RepaymentsOfissuanceOFRelatedPartyDebt
|
433508 | usd | |
us-gaap |
Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
|
133000 | usd | |
us-gaap |
Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
|
15438 | usd | |
us-gaap |
Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
|
0 | usd | |
us-gaap |
Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
|
331388 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
133000 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
59149247 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-240905 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
681631 | usd | |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
295372 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
0 | usd |
CY2024Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
54466 | usd |
CY2023Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
681631 | usd |
bukit |
Non Cash Deferred Offering Costs Included In Accrued Expenses
NonCashDeferredOfferingCostsIncludedInAccruedExpenses
|
0 | usd | |
bukit |
Non Cash Deferred Offering Costs Included In Accrued Expenses
NonCashDeferredOfferingCostsIncludedInAccruedExpenses
|
134285 | usd | |
bukit |
Noncashdeferred Offering Costs Paid By Promissory Note
NoncashdeferredOfferingCostsPaidByPromissoryNote
|
7147 | usd | |
bukit |
Noncashdeferred Underwriters Discount
NoncashdeferredUnderwritersDiscount
|
0 | usd | |
bukit |
Noncashdeferred Underwriters Discount
NoncashdeferredUnderwritersDiscount
|
1150000 | usd | |
bukit |
Non Cash Representative Shares Issued
NonCashRepresentativeSharesIssued
|
817500 | usd | |
bukit |
Non Cash Allocation Of Offering Costs To Ordinary Shares Subject To Redemption
NonCashAllocationOfOfferingCostsToOrdinarySharesSubjectToRedemption
|
0 | usd | |
bukit |
Non Cash Allocation Of Offering Costs To Ordinary Shares Subject To Redemption
NonCashAllocationOfOfferingCostsToOrdinarySharesSubjectToRedemption
|
4236160 | usd | |
bukit |
Noncashaccretion Of Ordinary Shares Subject To Redemption Value
NoncashaccretionOfOrdinarySharesSubjectToRedemptionValue
|
6928300 | usd | |
bukit |
Noncashaccretion Of Ordinary Shares Subject To Redemption Value
NoncashaccretionOfOrdinarySharesSubjectToRedemptionValue
|
0 | usd | |
CY2024Q2 | us-gaap |
Sale Of Stock Price Per Share
SaleOfStockPricePerShare
|
0.0001 | |
CY2024Q2 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
2011807 | shares |