$CSTAF
Constellation Acquisition Corp I

2023 Q1 Form 10-Q Financial Statement

#000121390023039820 Filed on May 15, 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 $1.315M $231.4K
YoY Change 468.32% 90.2%
Operating Profit -$1.315M -$231.4K
YoY Change 468.34%
Interest Expense $328.3K $4.330K
YoY Change 7481.52% -77.95%
% of Operating Profit
Other Income/Expense, Net $328.3K $4.743M
YoY Change -93.08% -72.23%
Pretax Income -$986.8K $4.516M
YoY Change -121.85% -73.4%
Income Tax
% Of Pretax Income
Net Earnings -$986.8K $4.516M
YoY Change -121.85% -73.4%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$0.05 $116.6K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.860K $98.33K
YoY Change -94.04% -92.7%
Cash & Equivalents $5.864K $98.33K
Short-Term Investments
Other Short-Term Assets $405.4K $339.7K
YoY Change 19.33% -55.05%
Inventory
Prepaid Expenses $405.4K
Receivables
Other Receivables
Total Short-Term Assets $411.2K $438.0K
YoY Change -6.12% -79.17%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $46.85M $310.0M
YoY Change -84.89% 0.01%
Other Assets $0.00 $0.00
YoY Change
Total Long-Term Assets $46.85M $310.0M
YoY Change -84.89% 0.01%
TOTAL ASSETS
Total Short-Term Assets $411.2K $438.0K
Total Long-Term Assets $46.85M $310.0M
Total Assets $47.26M $310.5M
YoY Change -84.78% -0.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $30.00K
YoY Change
Accrued Expenses $1.751M $724.3K
YoY Change 141.71% 1757.68%
Deferred Revenue
YoY Change
Short-Term Debt $968.9K $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.750M $724.3K
YoY Change 279.62% -1.99%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $12.34M $16.09M
YoY Change -23.32% -23.29%
Total Long-Term Liabilities $12.34M $16.09M
YoY Change -23.32% -23.29%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.750M $724.3K
Total Long-Term Liabilities $12.34M $16.09M
Total Liabilities $15.09M $16.81M
YoY Change -10.27% -22.57%
SHAREHOLDERS EQUITY
Retained Earnings -$14.68M
YoY Change
Common Stock $1.597M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$14.68M -$16.33M
YoY Change
Total Liabilities & Shareholders Equity $47.26M $310.5M
YoY Change -84.78% -0.52%

Cashflow Statement

Concept 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$986.8K $4.516M
YoY Change -121.85% -73.4%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$880.3K -$125.1K
YoY Change 603.96% -85.09%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $269.0M $0.00
YoY Change -100.0%
Cash From Investing Activities $269.0M
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 -$268.2M
YoY Change
NET CHANGE
Cash From Operating Activities -$880.3K -125.1K
Cash From Investing Activities $269.0M
Cash From Financing Activities -$268.2M
Net Change In Cash -$31.88K $0.00
YoY Change -100.0%
FREE CASH FLOW
Cash From Operating Activities -$880.3K -$125.1K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2023Q1 dei Entity Incorporation State Country Code
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CY2023Q1 dei Entity File Number
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CY2023Q1 dei Entity Tax Identification Number
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CY2023Q1 us-gaap Use Of Estimates
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Use of Estimates</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of unaudited condensed financial statements in conformity with US 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 unaudited condensed financial statements and the reported amounts of expenses during the reporting period. Accordingly, actual results could differ from those estimates.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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. One of the more significant accounting estimates included in these financial statements is the determination of the fair value of the warrant liability and convertible promissory notes. Such estimates may be subject to change as more current information becomes available and, 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"> </p>
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CY2023Q1 us-gaap Concentration Risk Credit Risk
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Concentration of Credit Risk</b> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts and trust account in a financial institution, which, at times, may exceed the Federal Deposit Insurance Corporation coverage of $250,000. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
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CY2023Q1 us-gaap Sale Of Stock Description Of Transaction
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In addition, if (x) the Company issues additional Class A ordinary shares or equity linked securities for capital raising purposes in connection with the closing of the initial Business Combination at an issue price or effective issue price of less than $9.20 per Class A ordinary share (with such issue price or effective issue price to be determined in good faith by the board of directors and, in the case of any such issuance to the initial shareholders or their affiliates, without taking into account any Founder Shares held by the initial shareholders or such affiliates, as applicable, prior to such issuance including any transfer or reissuance of such shares (the “Newly Issued Price”)), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest, available for the funding of the initial Business Combination, and (z) the volume-weighted average trading price of the Class A ordinary shares during the 10 trading day period starting on the trading day after the day on which the Company consummates the initial Business Combination is below $9.20 per share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price, and the $10.00 and $18.00 per share redemption trigger prices adjacent to “Redemption of warrants for Class A ordinary shares when the price per Class A ordinary share equals or exceeds $10.00.” and “Redemption of warrants for Class A ordinary shares when the price per Class A ordinary share equals or exceeds $18.00.” will be adjusted (to the nearest cent) to be equal to 100% and 180% of the higher of the Market Value and the Newly Issued Price, respectively.
CY2023Q1 csta Redemption Of Warrants Description
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Redemptions of warrants for cash when the price per Class A ordinary share equals or exceeds $10.00. Once the warrants become exercisable, the Company may call the warrants for redemption (except as described herein with respect to the Private Placement Warrants):    ● in whole and not in part;         ● at $0.10 per warrant upon a minimum of 30 days’ prior written notice of redemption; provided that during such 30 day period holders will be able to exercise their warrants on a cashless basis prior to redemption and receive that number of shares determined by reference to the table in the registration statement, based on the redemption date and the “fair market value” of the Class A ordinary shares (as defined below) except as otherwise described below; provided, further, that if the warrants are not exercised on a cashless basis or otherwise during such 30 day period, the Company shall redeem such warrants for $0.10 per share;         ● if, and only if, the Reference Value equals or exceeds $10.00 per share (as adjusted for share subdivisions, share dividends, reorganizations, recapitalizations and the like) on the trading day before the Company sends the notice of redemption to the warrant holders; and         ● if the Reference Value is less than $18.00 per share (as adjusted for share subdivisions, share dividends, reorganizations, recapitalizations and the like), the Private Placement Warrants must also be concurrently called for redemption on the same terms as the outstanding Public Warrants.  
CY2022 csta Founder Shares
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CY2021Q1 csta Founder Shares Forfeited
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875000 shares
CY2022 csta Initial Business Combination
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DebtInstrumentUnusedBorrowingCapacityAmount
1300 usd
CY2021Q1 csta Working Capital Loan
WorkingCapitalLoan
88540 usd
CY2021Q1 us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
89840 usd
CY2021Q1 us-gaap Related Party Tax Expense Due To Affiliates Current
RelatedPartyTaxExpenseDueToAffiliatesCurrent
699999 usd
CY2022Q4 us-gaap Unsecured Debt
UnsecuredDebt
258780 usd
CY2023Q1 csta Outstanding Value
OutstandingValue
227208 usd
CY2022Q4 csta Outstanding Value
OutstandingValue
258780 usd
CY2021Q1 us-gaap Administrative Fees Expense
AdministrativeFeesExpense
10000 usd
CY2023Q1 csta Administrative Service Fees
AdministrativeServiceFees
30000 usd
CY2022Q1 csta Administrative Service Fees
AdministrativeServiceFees
0 usd
CY2023Q1 csta Working Capital Loans
WorkingCapitalLoans
1500000 usd
CY2023Q1 csta Class Of Warrant Or Right Exercise Price Of Warrants Or Rights
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights
1.5
CY2023Q1 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
230000 usd
CY2023Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1.5
CY2023Q1 us-gaap Temporary Equity Redemption Price Per Share
TemporaryEquityRedemptionPricePerShare
0.0001
CY2023Q1 us-gaap Common Stock Held In Trust
CommonStockHeldInTrust
450000 usd
CY2023Q1 csta Loan Deposited Into The Trust Account
LoanDepositedIntoTheTrustAccount
150000 usd
CY2023Q1 csta Initial Principal Amount
InitialPrincipalAmount
450000 usd
CY2023Q1 csta Principal Amount
PrincipalAmount
1270000 usd
CY2023Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1.5
CY2023Q1 us-gaap Other Borrowings
OtherBorrowings
1330000 usd
CY2022Q4 us-gaap Other Borrowings
OtherBorrowings
0 usd
CY2023Q1 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
741688 usd
CY2023Q1 csta Proceeds Received Through Convertible Promissory Note
ProceedsReceivedThroughConvertiblePromissoryNote
27267 usd
CY2023Q1 csta Overallotment Option Expiration Date
OverallotmentOptionExpirationDate
2021-03-15
CY2023Q1 csta Trust Account
TrustAccount
10850000 usd
CY2023Q1 us-gaap Other Investments
OtherInvestments
3000000 usd
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2023Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q1 us-gaap Assets Fair Value Adjustment
AssetsFairValueAdjustment
973400 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0358 pure
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0341 pure
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.03 pure
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.03 pure
CY2023Q1 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
1.5
CY2023Q1 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
1.5
CY2023Q1 us-gaap Share Price
SharePrice
2.7
CY2023Q1 us-gaap Share Price
SharePrice
2.15
CY2023Q1 csta Probability Of Transaction
ProbabilityOfTransaction
0.60 pure
CY2023Q1 csta Probability Of Transaction
ProbabilityOfTransaction
0.60 pure
CY2023Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2023Q1 dei Entity Registrant Name
EntityRegistrantName
Constellation Acquisition Corp I
CY2022Q1 csta Excess Of Fair Value Over Cash Received For Private Placement Warrants
ExcessOfFairValueOverCashReceivedForPrivatePlacementWarrants
usd
CY2022Q1 csta Excess Fair Value Over Cash Received For Private Placement Warrants
ExcessFairValueOverCashReceivedForPrivatePlacementWarrants
usd
CY2022Q1 us-gaap Increase Decrease In Due To Related Parties Current
IncreaseDecreaseInDueToRelatedPartiesCurrent
usd
CY2023Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
usd
CY2022Q1 csta Cash Withdrawn From Trust Account In Connection With Redemption
CashWithdrawnFromTrustAccountInConnectionWithRedemption
usd
CY2022Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
usd
CY2022Q1 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
usd
CY2022Q1 us-gaap Payments For Repurchase Of Other Equity
PaymentsForRepurchaseOfOtherEquity
usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
usd
CY2023Q1 dei Amendment Flag
AmendmentFlag
false
CY2023Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2023Q1 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
10166
CY2023Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001834032

Files In Submission

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0001213900-23-039820-index-headers.html Edgar Link pending
0001213900-23-039820-index.html Edgar Link pending
0001213900-23-039820.txt Edgar Link pending
0001213900-23-039820-xbrl.zip Edgar Link pending
csta-20230331.xsd Edgar Link pending
f10q0323ex31-1_constella1.htm Edgar Link pending
f10q0323ex31-2_constella1.htm Edgar Link pending
f10q0323ex32-1_constella1.htm Edgar Link pending
f10q0323ex32-2_constella1.htm Edgar Link pending
f10q0323_constel1.htm Edgar Link pending
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csta-20230331_cal.xml Edgar Link unprocessable
csta-20230331_def.xml Edgar Link unprocessable
csta-20230331_lab.xml Edgar Link unprocessable
csta-20230331_pre.xml Edgar Link unprocessable
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