$CDAQF
Compass Digital Acquisition Corp.

2022 Q4 Form 10-K Financial Statement

#000119312523103964 Filed on April 18, 2023

View on sec.gov

Income Statement

Concept 2022 Q4 2022
Revenue $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 $570.2K $1.204M
YoY Change -45.82% 13.29%
Operating Profit -$1.204M
YoY Change
Interest Expense $1.834M $3.114M
YoY Change 56500.0% 95999.38%
% of Operating Profit
Other Income/Expense, Net $119.1K $10.50M
YoY Change -131.69% -2895.61%
Pretax Income $1.383M $9.295M
YoY Change -197.03% -747.72%
Income Tax
% Of Pretax Income
Net Earnings $1.383M $9.295M
YoY Change -197.03% -747.72%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share $0.05 $0.35
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $936.4K $936.4K
YoY Change -47.63% -47.63%
Cash & Equivalents $936.4K
Short-Term Investments
Other Short-Term Assets $341.0K $341.0K
YoY Change -18.85% -18.85%
Inventory
Prepaid Expenses $341.0K
Receivables
Other Receivables
Total Short-Term Assets $1.277M $1.277M
YoY Change -42.15% -42.15%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $215.5M $215.5M
YoY Change 1.47% 1.47%
Other Assets $0.00 $0.00
YoY Change -100.0% -100.0%
Total Long-Term Assets $215.5M $215.5M
YoY Change 1.31% 1.31%
TOTAL ASSETS
Total Short-Term Assets $1.277M $1.277M
Total Long-Term Assets $215.5M $215.5M
Total Assets $216.8M $216.8M
YoY Change 0.86% 0.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $953.5K $953.5K
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $978.3K $978.3K
YoY Change 72.07% 72.07%
LONG-TERM LIABILITIES
Long-Term Debt $267.5K $267.5K
YoY Change
Other Long-Term Liabilities $8.387M $8.387M
YoY Change -47.03% -47.03%
Total Long-Term Liabilities $8.655M $8.655M
YoY Change -45.34% -45.34%
TOTAL LIABILITIES
Total Short-Term Liabilities $978.3K $978.3K
Total Long-Term Liabilities $8.655M $8.655M
Total Liabilities $9.633M $9.633M
YoY Change -41.27% -41.27%
SHAREHOLDERS EQUITY
Retained Earnings -$8.356M
YoY Change -39.7%
Common Stock $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$8.356M $207.2M
YoY Change
Total Liabilities & Shareholders Equity $216.8M $216.8M
YoY Change 0.86% 0.86%

Cashflow Statement

Concept 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $1.383M $9.295M
YoY Change -197.03% -747.72%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$645.4K -$1.059M
YoY Change 67.74% 86.52%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities $0.00 $0.00
YoY Change -100.0% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 404.6K 207.5K
YoY Change -99.81% -99.9%
NET CHANGE
Cash From Operating Activities -645.4K -1.059M
Cash From Investing Activities 0.000 0.000
Cash From Financing Activities 404.6K 207.5K
Net Change In Cash -240.9K -851.6K
YoY Change -113.56% -147.63%
FREE CASH FLOW
Cash From Operating Activities -$645.4K -$1.059M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2022 dei Amendment Flag
AmendmentFlag
false
CY2022 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2022 dei Entity Central Index Key
EntityCentralIndexKey
0001851909
CY2022 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
00-0000000
CY2022 dei Document Type
DocumentType
10-K
CY2022 dei Document Annual Report
DocumentAnnualReport
true
CY2022 dei Document Period End Date
DocumentPeriodEndDate
2022-12-31
CY2022 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2022 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2022
CY2022 dei Document Transition Report
DocumentTransitionReport
false
CY2022 dei Entity File Number
EntityFileNumber
001-40912
CY2022 dei Entity Registrant Name
EntityRegistrantName
Compass Digital Acquisition Corp.
CY2022 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
E9
CY2022 dei Entity Address Address Line1
EntityAddressAddressLine1
3626 N Hall St, Suite 910
CY2022 dei Entity Address City Or Town
EntityAddressCityOrTown
Dallas
CY2022 dei Entity Address State Or Province
EntityAddressStateOrProvince
TX
CY2022 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
75219
CY2022 dei City Area Code
CityAreaCode
214
CY2022 dei Local Phone Number
LocalPhoneNumber
526-4423
CY2022 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2022 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2022 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2022 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2022 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2022 dei Entity Small Business
EntitySmallBusiness
true
CY2022 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
CY2022 dei Entity Ex Transition Period
EntityExTransitionPeriod
false
CY2022 dei Icfr Auditor Attestation Flag
IcfrAuditorAttestationFlag
false
CY2022 dei Entity Shell Company
EntityShellCompany
true
CY2022 dei Auditor Firm
AuditorFirmId
688
CY2022 dei Auditor Name
AuditorName
Marcum LLP
CY2022 dei Auditor Location
AuditorLocation
Boston, MA, USA
CY2022Q2 dei Entity Public Float
EntityPublicFloat
204900000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
936434
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1788014
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
340965
CY2021Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
420167
CY2022Q4 us-gaap Assets Current
AssetsCurrent
1277399
CY2021Q4 us-gaap Assets Current
AssetsCurrent
2208181
CY2022Q4 us-gaap Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
215521445
CY2021Q4 us-gaap Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
212407824
CY2022Q4 us-gaap Prepaid Expense Noncurrent
PrepaidExpenseNoncurrent
0
CY2021Q4 us-gaap Prepaid Expense Noncurrent
PrepaidExpenseNoncurrent
332632
CY2022Q4 us-gaap Assets
Assets
216798844
CY2021Q4 us-gaap Assets
Assets
214948637
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
953511
CY2021Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
191669
CY2022Q4 us-gaap Due To Other Related Parties Classified Current
DueToOtherRelatedPartiesClassifiedCurrent
24821
CY2021Q4 us-gaap Due To Other Related Parties Classified Current
DueToOtherRelatedPartiesClassifiedCurrent
376902
CY2022Q4 us-gaap Liabilities Current
LiabilitiesCurrent
978332
CY2021Q4 us-gaap Liabilities Current
LiabilitiesCurrent
568571
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Noncurrent
AccountsPayableAndAccruedLiabilitiesNoncurrent
0
CY2021Q4 us-gaap Accounts Payable And Accrued Liabilities Noncurrent
AccountsPayableAndAccruedLiabilitiesNoncurrent
676712
CY2022Q4 cdaq Underwriters Fees Payable
UnderwritersFeesPayable
7434171
CY2021Q4 cdaq Underwriters Fees Payable
UnderwritersFeesPayable
7434171
CY2022Q4 us-gaap Notes Payable Related Parties Noncurrent
NotesPayableRelatedPartiesNoncurrent
267500
CY2021Q4 us-gaap Notes Payable Related Parties Noncurrent
NotesPayableRelatedPartiesNoncurrent
60000
CY2022Q4 cdaq Warrant Liability
WarrantLiability
952979
CY2021Q4 cdaq Warrant Liability
WarrantLiability
8338560
CY2022Q4 us-gaap Liabilities
Liabilities
9632982
CY2021Q4 us-gaap Liabilities
Liabilities
17078014
CY2022Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2022Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
215521445
CY2021Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
212404880
CY2021Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2021Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2022Q4 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2021Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2022Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
0
CY2021Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
0
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-8356114
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-14534788
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-8355583
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-14534257
CY2022Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
216798844
CY2021Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
214948637
CY2022 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
1203963
us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
1099668
CY2022 us-gaap Operating Income Loss
OperatingIncomeLoss
-1203963
us-gaap Operating Income Loss
OperatingIncomeLoss
-1099668
CY2022 us-gaap Interest Income Other
InterestIncomeOther
3113621
us-gaap Interest Income Other
InterestIncomeOther
3244
CY2022 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-7385581
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
375560
CY2022 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
10499202
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-372316
CY2022 us-gaap Net Income Loss
NetIncomeLoss
9295239
us-gaap Net Income Loss
NetIncomeLoss
-1471984
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
0
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
25000
us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
207674880
us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
12372371
us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
4015098
cdaq Reclassifications Of Permanent To Temporary Equity Value
ReclassificationsOfPermanentToTemporaryEquityValue
-212404880
us-gaap Profit Loss
ProfitLoss
-1471984
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
-14534257
CY2022 us-gaap Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
3116565
CY2022 us-gaap Profit Loss
ProfitLoss
9295239
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
-8355583
CY2022 us-gaap Net Income Loss
NetIncomeLoss
9295239
us-gaap Net Income Loss
NetIncomeLoss
-1471984
CY2022 cdaq Interest Earned On Marketable Securities Held In Trust Account
InterestEarnedOnMarketableSecuritiesHeldInTrustAccount
3113621
cdaq Interest Earned On Marketable Securities Held In Trust Account
InterestEarnedOnMarketableSecuritiesHeldInTrustAccount
2944
CY2022 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-7385581
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
375560
CY2022 cdaq Transaction Costs Allocated To Warrant Liability
TransactionCostsAllocatedToWarrantLiability
0
cdaq Transaction Costs Allocated To Warrant Liability
TransactionCostsAllocatedToWarrantLiability
678883
CY2022 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-411833
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
752799
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
85131
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
228586
CY2022 us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
-352081
us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
376902
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1059080
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-567796
CY2022 cdaq Cash Deposited In Trust Account
CashDepositedInTrustAccount
0
cdaq Cash Deposited In Trust Account
CashDepositedInTrustAccount
212404880
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
0
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-212404880
CY2022 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
208356781
CY2022 cdaq Proceeds From Private Warrants
ProceedsFromPrivateWarrants
0
cdaq Proceeds From Private Warrants
ProceedsFromPrivateWarrants
7248098
CY2022 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
207500
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
60000
CY2022 cdaq Proceeds From Promissory Notes Payable
ProceedsFromPromissoryNotesPayable
0
cdaq Proceeds From Promissory Notes Payable
ProceedsFromPromissoryNotesPayable
0
CY2022 cdaq Payments Of Offering Costs
PaymentsOfOfferingCosts
0
cdaq Payments Of Offering Costs
PaymentsOfOfferingCosts
904189
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
207500
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
214760690
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-851580
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1788014
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1788014
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
0
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
936434
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1788014
CY2022 cdaq Deferred Underwriting Commissions
DeferredUnderwritingCommissions
0
cdaq Deferred Underwriting Commissions
DeferredUnderwritingCommissions
7434171
CY2022 cdaq Deferred Offering Costs Paid By Sponsor In Exchange For Issuance Of Class B Ordinary Shares
DeferredOfferingCostsPaidBySponsorInExchangeForIssuanceOfClassBOrdinaryShares
0
cdaq Deferred Offering Costs Paid By Sponsor In Exchange For Issuance Of Class B Ordinary Shares
DeferredOfferingCostsPaidBySponsorInExchangeForIssuanceOfClassBOrdinaryShares
25000
CY2022 cdaq Accretion Of Class A Ordinary Shares To Redemption Value
AccretionOfClassAOrdinarySharesToRedemptionValue
3116565
cdaq Accretion Of Class A Ordinary Shares To Redemption Value
AccretionOfClassAOrdinarySharesToRedemptionValue
0
CY2022 cdaq Offering Costs Included In Accounts Payable And Accrued Expenses Long Term
OfferingCostsIncludedInAccountsPayableAndAccruedExpensesLongTerm
0
cdaq Offering Costs Included In Accounts Payable And Accrued Expenses Long Term
OfferingCostsIncludedInAccountsPayableAndAccruedExpensesLongTerm
676712
CY2021Q4 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
10
CY2021Q4 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
200000000
CY2022 cdaq Purchased An Aggregate
PurchasedAnAggregate
20000000
CY2022 cdaq Offering Price
OfferingPrice
10
CY2022 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
200000000
CY2022 us-gaap Payments For Underwriting Expense
PaymentsForUnderwritingExpense
199999
CY2022 cdaq Allocation Of Offering Costs And Founders Shares To Warrant Expense
AllocationOfOfferingCostsAndFoundersSharesToWarrantExpense
631124
CY2022 cdaq Fair Value In Excess Of Consideration
FairValueInExcessOfConsideration
10414655
CY2021Q4 cdaq Net Proceeds
NetProceeds
200000000
CY2021Q4 cdaq Price Per Share
PricePerShare
10
CY2021Q4 cdaq Maturity Days
MaturityDays
P185D
CY2021Q4 cdaq Private Placement Warrants
PrivatePlacementWarrants
165398
CY2021Q4 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
1.5
CY2021Q4 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
248097
CY2022Q4 us-gaap General Fair Value Hedge Information Minimum R Square Percentage
GeneralFairValueHedgeInformationMinimumRSquarePercentage
0.80
CY2022 cdaq Percentage Of Outstanding Voting Securities
PercentageOfOutstandingVotingSecurities
0.50
CY2022Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Indefinite Lived Intangible Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIndefiniteLivedIntangibleAssets
5000001
CY2022 cdaq Aggregate Share Percentage
AggregateSharePercentage
0.15
CY2022 cdaq Trust Account Per Share
TrustAccountPerShare
10
CY2022 cdaq Dissolution Expenses
DissolutionExpenses
100000
CY2022 cdaq Public Per Shares
PublicPerShares
10
CY2022 cdaq Value Of The Trust Assets
ValueOfTheTrustAssets
10
CY2022Q4 cdaq Operating Bank Account
OperatingBankAccount
936434
CY2022 cdaq Working Capital
WorkingCapital
299067
CY2022Q4 cdaq Cash Payments
CashPayments
25000
CY2022Q4 cdaq Working Capital Loans
WorkingCapitalLoans
267500
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top: 18pt; margin-bottom: 0pt; margin-left: 2%; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><div style="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">Use of Estimates </div></div></div></div> <div style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">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. </div> <div style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">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. </div>
CY2022Q4 us-gaap Cash
Cash
936434
CY2021Q4 us-gaap Cash
Cash
1788014
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-top: 18pt; margin-bottom: 0pt; margin-left: 2%; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><div style="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">Concentration of Credit Risk </div></div></div></div> <div style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">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 Corporation coverage limit of $250,000. The Company has not experienced losses on this account and management believes the Company is not exposed to significant risks on such account. </div>
CY2022 us-gaap Interest Income Deposits With Other Federal Home Loan Banks
InterestIncomeDepositsWithOtherFederalHomeLoanBanks
250000
CY2022 us-gaap Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
3116565
us-gaap Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
0
CY2022 cdaq Revisions To Prior Periods Financial Statements
RevisionsToPriorPeriodsFinancialStatements
<div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt; margin-left: 2%;;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">Revisions To Prior Periods’ Financial Statements </div></div></div></div></div> <div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"/></div> <div style="text-indent: 4%; font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">In the fourth quarter of 2022, the Company identified errors of not recognizing unbilled legal fees incurred during the periods ended December 31, 2021, the three months ended March 31, 2022, the three and six months ended June 30, 2022, and the three and nine months ended September 30, 2022. Legal fees incurred and unbilled amounted </div></div><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;text-indent: 0px;;display:inline;"> to $676,712 as of December 31, 2021, which were for legal services related to the Company’s IPO. The Company should have accrued for this legal expense, of which $639,795 should have been charged to shareholders’ deficit on the balance sheet upon the completion of the Initial Public Offering and $36,917 should have been expensed to the statement of operations and included in formation costs and other operating expenses attributable to warrant liabilities. <div style="text-indent: 0px; letter-spacing: 0px; top: 0px;;display:inline;">Additional legal<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div>fees incurred and unbilled were $88,215, $28,966, <div style="letter-spacing: 0px; top: 0px;;display:inline;">and </div>$58,148 </div></div><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">during the quarters ended March 31, 2022, June 30, 2022, and September 30, 2022, respectively. These amounts relate to legal services for search of business combination, as such should have been recorded as expense and accrued as long-term liabilities. The Company recognized all of these previously unrecorded legal fees during the year and three months ended December 31, 2022. </div></div></div> <div style="text-indent: 4%; font-family: Times New Roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;text-indent: 0px;;display:inline;"><div style="null;text-indent: 0px;;display:inline;">The errors result in an understatement of long-term accounts payable and accrued expenses and understatement of accumulated deficit of</div> $676,712 <div style="null;text-indent: 0px;;display:inline;">on the balance sheet as of December 31, 2021, and an understatement of formation costs and other operating expenses and understatement of net loss of</div> $36,917 <div style="null;text-indent: 0px;;display:inline;">on the statement of operations from March 8 (inception) to December 31, 2021. The errors lead to understatement of formation costs and other operating expenses on the statements of operations, respectively, of</div> $88,215 <div style="null;text-indent: 0px;;display:inline;">for the three months ended March 31, 2022,</div><div style="null;text-indent: 0px;;display:inline;"> </div>$28,966 <div style="null;text-indent: 0px;;display:inline;">and $117,181 for the three and six months ended June 30, 2022, and</div> $58,148 <div style="display:inline;">and $175,329 for three and nine months ended September 30, 2022. As of March 31, 2022, June 30, 2022, and September 30, 2022, the errors lead to understatement of accounts payable and accrued expenses and understatement of accumulated deficit on the balance sheets of</div> $764,927, $793,893, and $852,041, respectively. The unbilled legal fees not recognized do not impact the Company’s cash position in the prior periods, and have less than 0.5% impact on the Company’s investment held in trust account balance as of the end of each prior period. </div></div></div> <div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"/></div><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"/></div> <div style="text-indent: 4%; font-family: Times New Roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The Company evaluated the materiality of the errors described above from a qualitative and quantitative perspective. Based on such evaluation, the Company concluded that while the accumulation of the errors were significant for the year ended December 31, 2022, the correction would not be material to the financial position or results of operations for the period ended December 31, 2021, nor did it have an effect on the trend of financial results, taking into account the requirements of SEC Staff Accounting Bulletin No. 108, Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements (“SAB 108”). The Company also concluded the correction would not be material to the financial position or results of operations for the three, six and nine month periods ended March 31, 2022, June 30, 2022, and September 30, 2022, respectively. The quarterly amounts for the 2022 balances will revised in the future 2023 quarterly filings when quarterly comparative financial statements are filed. Accordingly, the Company has revised the accompanying financial statements as of December 31, 2022, and for the period from March 8, 2021 (inception) to December 31, 2021 to correct this error. </div></div></div> <div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="letter-spacing: 0px; top: 0px; background: none;;display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;;display:inline;"> </div></div>
cdaq Percentage Of Impact On Investment Held In Trust Account
PercentageOfImpactOnInvestmentHeldInTrustAccount
0.005
CY2022 cdaq Percentage Of Impact On Investment Held In Trust Account
PercentageOfImpactOnInvestmentHeldInTrustAccount
0.005
CY2021Q4 us-gaap Shares Issued
SharesIssued
20000000
CY2021Q4 cdaq Underwriters Shares Exercised
UnderwritersSharesExercised
23000000
CY2021Q4 us-gaap Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
10
CY2021Q4 cdaq Gross Proceeds
GrossProceeds
200000000
CY2021Q4 cdaq Incurring Offering Costs
IncurringOfferingCosts
11929189
CY2021Q4 us-gaap Expense Related To Distribution Or Servicing And Underwriting Fees
ExpenseRelatedToDistributionOrServicingAndUnderwritingFees
4000000
CY2021Q4 cdaq Deferred Underwriting Fees
DeferredUnderwritingFees
7000000
CY2021Q4 cdaq Other Offering Costs
OtherOfferingCosts
929189
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q4 cdaq Shares Issued1
sharesIssued1
20000000
CY2021Q4 cdaq Public Offering Price Per Share
PublicOfferingPricePerShare
10
CY2021Q4 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
1240488
CY2021Q4 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
248097
CY2022 cdaq Sponsor Purchased
SponsorPurchased
4666667
CY2022Q4 cdaq Price Per Warrant
PricePerWarrant
1.5
CY2022 us-gaap Sale Of Stock Consideration Received Per Transaction
SaleOfStockConsiderationReceivedPerTransaction
7000000
CY2022 cdaq Aggregate Of Private Placement Warrants
AggregateOfPrivatePlacementWarrants
186667
CY2021Q1 us-gaap Shares Issued
SharesIssued
5750000
CY2021Q1 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
25000
CY2021Q2 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
721402
cdaq Founder Shares Subject To Forfeiture
FounderSharesSubjectToForfeiture
750000
cdaq Companys Issued And Outstanding Percentage
CompanysIssuedAndOutstandingPercentage
0.20
CY2022Q4 us-gaap Share Price
SharePrice
12
CY2022Q4 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
0.004
CY2021Q1 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
250000
CY2021Q4 us-gaap Notes Payable Related Parties Noncurrent
NotesPayableRelatedPartiesNoncurrent
195000
CY2022Q4 us-gaap Due To Officers Or Stockholders Noncurrent
DueToOfficersOrStockholdersNoncurrent
1000000
CY2022Q4 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
1.5
CY2022 cdaq Issued Of Unsecured Promissory Note
IssuedOfUnsecuredPromissoryNote
1000000
CY2022 cdaq Drawing
Drawing
267500
cdaq Drawing
Drawing
60000
CY2022 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
10000
CY2022 cdaq Underwriters Shares Additional Units
UnderwritersSharesAdditionalUnits
3000000
CY2022Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight
6666667
CY2022Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
4666667
CY2022 cdaq Warrants Expire Date
WarrantsExpireDate
P5Y
CY2022 cdaq Total Equity Proceeds
TotalEquityProceeds
0.60
CY2021Q4 us-gaap Preferred Units Authorized
PreferredUnitsAuthorized
1000000
CY2022Q4 us-gaap Preferred Units Authorized
PreferredUnitsAuthorized
1000000
CY2021Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2021Q4 us-gaap Preferred Units Issued
PreferredUnitsIssued
0
CY2022Q4 us-gaap Preferred Units Outstanding
PreferredUnitsOutstanding
0
CY2021Q4 us-gaap Preferred Units Outstanding
PreferredUnitsOutstanding
0
CY2022Q4 us-gaap Preferred Units Issued
PreferredUnitsIssued
0
CY2022 cdaq Companys Issued And Outstanding Percentage
CompanysIssuedAndOutstandingPercentage
0.20
CY2022Q4 cdaq Redemption Value Of Warrants
RedemptionValueOfWarrants
18
CY2022Q4 cdaq Fair Value Of Warrant Liability Transfer From Level To Level One
FairValueOfWarrantLiabilityTransferFromLevelToLevelOne
0

Files In Submission

Name View Source Status
0001193125-23-103964-index-headers.html Edgar Link pending
0001193125-23-103964-index.html Edgar Link pending
0001193125-23-103964.txt Edgar Link pending
0001193125-23-103964-xbrl.zip Edgar Link pending
cdaq-20221231.xsd Edgar Link pending
d426478d10k.htm Edgar Link pending
d426478dex311.htm Edgar Link pending
d426478dex312.htm Edgar Link pending
d426478dex321.htm Edgar Link pending
d426478dex322.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
cdaq-20221231_cal.xml Edgar Link unprocessable
cdaq-20221231_def.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
cdaq-20221231_pre.xml Edgar Link unprocessable
d426478d10k_htm.xml Edgar Link completed
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
cdaq-20221231_lab.xml Edgar Link unprocessable