$CSLM
CSLM ACQUISITION CORP.

2024 Q3 Form 10-Q Financial Statement

#000119312524260915 Filed on November 18, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2023 Q3
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue $50.07K $120.4K
YoY Change -58.42% 0.0%
Gross Profit -$50.07K -$120.4K
YoY Change -58.42% 0.0%
Gross Profit Margin
Selling, General & Admin $585.7K $303.5K
YoY Change 93.02% 62.49%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $613.0K $303.5K
YoY Change 102.01% 56.01%
Operating Profit -$613.0K -$312.4K
YoY Change 96.25% 60.59%
Interest Expense $452.8K $1.170M
YoY Change -61.3% 15.45%
% of Operating Profit
Other Income/Expense, Net $480.1K -$8.900K
YoY Change -5494.58%
Pretax Income -$132.9K $857.7K
YoY Change -115.5% 4.73%
Income Tax
% Of Pretax Income
Net Earnings -$132.9K $857.7K
YoY Change -115.5% 4.73%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$0.02 $0.07
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $15.83M $51.15M
YoY Change -69.06% -73.54%
Cash & Equivalents $47.35K $64.50K
Short-Term Investments $15.78M $51.09M
Other Short-Term Assets $28.60K $157.9K
YoY Change -81.89% -74.38%
Inventory
Prepaid Expenses $28.60K
Receivables
Other Receivables $31.85K
Total Short-Term Assets $15.89M $51.34M
YoY Change -69.05% -73.53%
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 -$1.00 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $15.89M $51.34M
Total Long-Term Assets -$1.00 $0.00
Total Assets $15.89M $51.34M
YoY Change -69.05% -73.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $364.5K $15.76K
YoY Change 2212.56% 918.75%
Accrued Expenses $843.4K $417.8K
YoY Change 101.88% 53.24%
Deferred Revenue
YoY Change
Short-Term Debt $2.350M $900.0K
YoY Change 161.11%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $10.30M $7.975M
YoY Change 29.12% 10.84%
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 $10.30M $7.975M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $10.30M $7.975M
YoY Change 29.12% 10.84%
SHAREHOLDERS EQUITY
Retained Earnings -$10.19M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$10.19M $43.36M
YoY Change
Total Liabilities & Shareholders Equity $15.89M $51.34M
YoY Change -69.05% -73.53%

Cashflow Statement

Concept 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income -$132.9K $857.7K
YoY Change -115.5% 4.73%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $538.6K $1.578M
YoY Change -65.87% -2761.37%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $37.82M $147.5M
YoY Change -74.36%
Cash From Investing Activities $37.82M $147.5M
YoY Change -74.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -38.38M -149.2M
YoY Change -74.28%
NET CHANGE
Cash From Operating Activities 538.6K 1.578M
Cash From Investing Activities 37.82M 147.5M
Cash From Financing Activities -38.38M -149.2M
Net Change In Cash -15.35K -110.0K
YoY Change -86.04% 85.46%
FREE CASH FLOW
Cash From Operating Activities $538.6K $1.578M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CSLM ACQUISITION CORP.
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cslm Companys Operating Account
CompanysOperatingAccount
2250000
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
191647500
CY2023Q4 cslm Percentage Of Public Shares To Be Redeemed In Case Business Combination Is Not Consummated
PercentageOfPublicSharesToBeRedeemedInCaseBusinessCombinationIsNotConsummated
1
CY2023Q3 cslm Amount To Be Deposited In The Trust Account For Each Extension
AmountToBeDepositedInTheTrustAccountForEachExtension
70000
CY2023Q3 us-gaap Assets Held In Trust
AssetsHeldInTrust
70000
CY2023Q3 us-gaap Payments To Acquire Restricted Investments
PaymentsToAcquireRestrictedInvestments
70000
us-gaap Payments To Acquire Restricted Investments
PaymentsToAcquireRestrictedInvestments
910000
CY2024Q3 us-gaap Payments To Acquire Restricted Investments
PaymentsToAcquireRestrictedInvestments
30000
CY2024Q4 us-gaap Payments To Acquire Restricted Investments
PaymentsToAcquireRestrictedInvestments
30000
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
47353
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
138283
CY2024Q3 cslm Net Working Capital Deficit
NetWorkingCapitalDeficit
3547994
CY2023Q4 cslm Net Working Capital Deficit
NetWorkingCapitalDeficit
1676487
us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top: 18pt; margin-bottom: 0pt; 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; font-size:10pt; font-family:Times New Roman">The preparation of 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. </div><div style="margin-top:12pt; margin-bottom:0pt; 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 esti<div style="letter-spacing: 0px; top: 0px;display:inline;">mat</div>es. </div>
CY2022Q1 us-gaap Payments To Acquire Restricted Investments
PaymentsToAcquireRestrictedInvestments
191647500
CY2022Q1 cslm Term Of Restricted Investments
TermOfRestrictedInvestments
P185D
CY2022Q1 cslm Percentage Of Public Shares To Be Redeemed In Case Business Combination Is Not Consummated
PercentageOfPublicSharesToBeRedeemedInCaseBusinessCombinationIsNotConsummated
1
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
-132909
CY2024Q3 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
-610118
CY2024Q3 cslm Net Income Loss Including Remeasurement Of Temporary Equity To Redemption Value
NetIncomeLossIncludingRemeasurementOfTemporaryEquityToRedemptionValue
-743027
us-gaap Net Income Loss
NetIncomeLoss
437633
us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
-2399140
cslm Net Income Loss Including Remeasurement Of Temporary Equity To Redemption Value
NetIncomeLossIncludingRemeasurementOfTemporaryEquityToRedemptionValue
-1961507
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
857708
CY2023Q3 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
-1380072
CY2023Q3 cslm Net Income Loss Including Remeasurement Of Temporary Equity To Redemption Value
NetIncomeLossIncludingRemeasurementOfTemporaryEquityToRedemptionValue
-522364
us-gaap Net Income Loss
NetIncomeLoss
4569632
us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
-5804241
cslm Net Income Loss Including Remeasurement Of Temporary Equity To Redemption Value
NetIncomeLossIncludingRemeasurementOfTemporaryEquityToRedemptionValue
-1234609
CY2024Q3 cslm Remeasurement Of Common Stock Subject To Possible Redemption
RemeasurementOfCommonStockSubjectToPossibleRedemption
610118
CY2023Q3 cslm Remeasurement Of Common Stock Subject To Possible Redemption
RemeasurementOfCommonStockSubjectToPossibleRedemption
1380072
cslm Remeasurement Of Common Stock Subject To Possible Redemption
RemeasurementOfCommonStockSubjectToPossibleRedemption
2399140
cslm Remeasurement Of Common Stock Subject To Possible Redemption
RemeasurementOfCommonStockSubjectToPossibleRedemption
5804241
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.50
CY2024Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2024Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2023Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2024Q3 cslm Delayed Fee Payable One Month From Now
DelayedFeePayableOneMonthFromNow
35000
CY2024Q3 cslm Delayed Fee Payable Two Months From Now
DelayedFeePayableTwoMonthsFromNow
50000
CY2024Q3 cslm Delayed Fee Payable Third Month And Thereafter Per Month
DelayedFeePayableThirdMonthAndThereafterPerMonth
70000
CY2024Q3 cslm Other Non Operating Income Miscellaneous Fee
OtherNonOperatingIncomeMiscellaneousFee
210000
cslm Provision For Credit Losses On Covenant Receivable
ProvisionForCreditLossesOnCovenantReceivable
435000
CY2024Q3 cslm Provision For Credit Losses On Covenant Receivable
ProvisionForCreditLossesOnCovenantReceivable
210000
cslm Provision For Credit Losses On Covenant Receivable
ProvisionForCreditLossesOnCovenantReceivable
435000
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-top: 18pt; margin-bottom: 0pt; 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; font-size:10pt; font-family:Times New Roman">Financial instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed Federally insured limits. Exposure to cash and cash equivalents credit risk is reduced by placing such deposits with major financial institutions and monitoring their credit ratings. At 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. </div>
CY2022 us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
7942500
CY2024Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight
1
CY2024Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
11.5
CY2024Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
30000
CY2024Q3 cslm Adjustment To Additional Capital Waiver Of Administrative Service Fees
AdjustmentToAdditionalCapitalWaiverOfAdministrativeServiceFees
30000
CY2023Q3 cslm Adjustment To Additional Capital Waiver Of Administrative Service Fees
AdjustmentToAdditionalCapitalWaiverOfAdministrativeServiceFees
0
CY2023Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
0
cslm Adjustment To Additional Capital Waiver Of Administrative Service Fees
AdjustmentToAdditionalCapitalWaiverOfAdministrativeServiceFees
90000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
90000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
0
cslm Adjustment To Additional Capital Waiver Of Administrative Service Fees
AdjustmentToAdditionalCapitalWaiverOfAdministrativeServiceFees
0
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2024Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2024Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2024Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2024Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
us-gaap Common Stock Conversion Basis
CommonStockConversionBasis
20
CY2024Q3 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
15779835
CY2023Q4 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
51976918
ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false

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