$CLRC
ClimateRock

2023 Q1 Form 10-Q Financial Statement

#000121390023037389 Filed on May 08, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q1
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 $386.8K $1.200K
YoY Change 32132.5%
Operating Profit -$386.8K -$1.200K
YoY Change 32132.58%
Interest Expense $838.6K
YoY Change
% of Operating Profit
Other Income/Expense, Net $838.6K
YoY Change
Pretax Income $451.9K -$1.200K
YoY Change -37754.17%
Income Tax
% Of Pretax Income
Net Earnings $451.9K -$1.200K
YoY Change -37754.33%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share $0.10 -$120.50
COMMON SHARES
Basic Shares Outstanding 1.875M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $81.95M $4.950K
YoY Change 1655496.77%
Cash & Equivalents $54.46K $4.950K
Short-Term Investments
Other Short-Term Assets $80.63K $232.6K
YoY Change -65.33%
Inventory
Prepaid Expenses $80.63K
Receivables
Other Receivables
Total Short-Term Assets $82.03M $237.5K
YoY Change 34438.61%
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 $0.00 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $82.03M $237.5K
Total Long-Term Assets $0.00 $0.00
Total Assets $82.03M $237.5K
YoY Change 34438.61%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $979.2K $26.23K
YoY Change 3633.04%
Deferred Revenue
YoY Change
Short-Term Debt $530.0K $192.2K
YoY Change 175.74%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.872M $218.4K
YoY Change 1672.42%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $3.872M $218.4K
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $3.872M $218.4K
YoY Change 1672.42%
SHAREHOLDERS EQUITY
Retained Earnings -$3.737M
YoY Change
Common Stock $209.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$3.737M $19.07K
YoY Change
Total Liabilities & Shareholders Equity $82.03M $237.5K
YoY Change 34438.61%

Cashflow Statement

Concept 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income $451.9K -$1.200K
YoY Change -37754.33%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$407.3K -$200.00
YoY Change 203526.5%
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 $50.00K 5.150K
YoY Change 870.87%
NET CHANGE
Cash From Operating Activities -$407.3K -200.0
Cash From Investing Activities
Cash From Financing Activities $50.00K 5.150K
Net Change In Cash -$357.3K 4.950K
YoY Change -7317.23%
FREE CASH FLOW
Cash From Operating Activities -$407.3K -$200.00
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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50 Sloane Avenue
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Use of estimates</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">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. Accordingly, the actual results could differ significantly from those estimates.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p>
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the Company entered into an agreement (the “Letter Agreement”) with Gluon Partners LLP (“Gluon”) to pay a fee (the “Transaction Success Fee”) upon completion of one or more successful transactions. The Company will pay Gluon $500,000 upon completion of one or more transactions with an aggregate purchase price of less than $400,000,000; and, an additional $500,000 upon completion of one or more transactions with an aggregate purchase price of more than $400,000,000. This means the total remuneration for transactions with a purchase price more than $400,000,001 would be $1,000,000. The transactions purchase price will correspond to the price paid to the sellers of the applicable target, including cash, debt, and equity funded payments. Each Transaction Success Fee will be payable upon consummation of the applicable transaction, regardless of (i) the calendar for the payment of the purchase price, (ii) how the purchase price is funded, (iii) any deferred payment subsequent to consummation of the transaction, or (iv) any adjustments to the price of the transaction subsequent to consummation. Following payment of Transaction Success Fee, any accrued fees payable to the Gluon Group by the Company will be waived.
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CY2023Q1 us-gaap Long Term Purchase Commitment Description
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The underwriters were entitled to an underwriting discount of $0.45 per unit, or $3,543,750 in the aggregate, of which $0.15 per unit, or $1,181,250 was paid upon the closing of the Initial Public Offering. Of the $0.45 discount, the underwriters were entitled to a deferred underwriting commission of  $0.30 per unit, or $2,362,500 in the aggregate. The deferred fee will become payable to the underwriters from the amounts held in the Trust Account solely in the event that the Company completes a Business Combination, subject to the terms of the underwriting agreement. 
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CY2023Q1 clcr Warrants Redemption Description
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●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; and   ●if, and only if, the last reported last sale price of the ordinary shares equals or exceeds $18.00 per share for any 20 trading days within a 30-trading day period ending on the third trading day prior to the date on which the Company sends the notice of redemption to the warrant holders.  
CY2023Q1 clcr Equity Linked Securities Description
EquityLinkedSecuritiesDescription
(i) the Company issues additional ordinary shares or securities convertible into or exercisable or exchangeable for shares of ordinary shares 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 ordinary shares, with such issue price or effective issue price to be determined in good faith by the Board (and in the case of any such issuance to the Sponsor or its affiliates, without taking into account any founder shares held by such holder or affiliates, as applicable, prior to such issuance) (the “New Issuance Price”); (ii) 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 initial Business Combination on the date of the consummation thereof (net of redemptions); and (iii) the volume weighted average trading price of the ordinary shares during the 20 trading day period starting on the trading day prior to the day on which the Company consummates the initial Business Combination (such price, the “Market Value”) is below $9.20 per share, the Warrant Price shall be adjusted (to the nearest cent) to be equal to 115% of the greater of the Market Value and the New Issuance Price and the Redemption Trigger Price ($18.00) shall be adjusted to equal to 180% of the greater of the Market Value and the Newly Issued Price.
CY2023Q1 clcr Common Stock Value One
CommonStockValueOne
usd
CY2023Q1 us-gaap Preferred Stock Value
PreferredStockValue
usd
CY2023Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
shares
CY2023Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
shares
CY2023Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
usd
CY2023Q1 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
usd
CY2022Q1 us-gaap Gain Loss On Investments
GainLossOnInvestments
usd
CY2022Q1 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
usd
CY2022Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
usd
CY2023Q1 clcr Deferred Offering Costs Paid By Related Party
DeferredOfferingCostsPaidByRelatedParty
usd
CY2023Q1 clcr Deferred Offering Costs Included In Accrued Liabilities
DeferredOfferingCostsIncludedInAccruedLiabilities
usd
CY2023Q1 us-gaap Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
usd
CY2022Q1 us-gaap Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
usd
CY2022Q1 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
usd
CY2023Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
shares
CY2023Q1 dei Amendment Flag
AmendmentFlag
false
CY2023Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2023Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2023Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001903392

Files In Submission

Name View Source Status
clcr-20230331_cal.xml Edgar Link unprocessable
0001213900-23-037389-index-headers.html Edgar Link pending
0001213900-23-037389-index.html Edgar Link pending
0001213900-23-037389.txt Edgar Link pending
0001213900-23-037389-xbrl.zip Edgar Link pending
clcr-20230331.xsd Edgar Link pending
f10q0323ex10-2_climaterock.htm Edgar Link pending
f10q0323ex31-1_climaterock.htm Edgar Link pending
f10q0323ex31-2_climaterock.htm Edgar Link pending
f10q0323ex32-1_climaterock.htm Edgar Link pending
f10q0323ex32-2_climaterock.htm Edgar Link pending
f10q0323_climaterock.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
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clcr-20230331_def.xml Edgar Link unprocessable
clcr-20230331_lab.xml Edgar Link unprocessable
clcr-20230331_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
f10q0323_climaterock_htm.xml Edgar Link completed
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report.css Edgar Link pending
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