2023 Q2 Form 10-Q Financial Statement
#000121390023067775 Filed on August 15, 2023
Income Statement
Concept | 2023 Q2 | 2022 Q4 |
---|---|---|
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 | $311.7K | $238.7K |
YoY Change | -13.22% | -13.27% |
Operating Profit | -$311.7K | |
YoY Change | -13.22% | |
Interest Expense | $536.5K | $2.623M |
YoY Change | 132.22% | 43037.01% |
% of Operating Profit | ||
Other Income/Expense, Net | $1.098M | $243.3K |
YoY Change | -66.09% | -66.45% |
Pretax Income | $786.5K | $2.627M |
YoY Change | -72.69% | 475.98% |
Income Tax | ||
% Of Pretax Income | ||
Net Earnings | $786.5K | $2.627M |
YoY Change | -72.69% | 475.98% |
Net Earnings / Revenue | ||
Basic Earnings Per Share | ||
Diluted Earnings Per Share | $0.06 | $0.07 |
COMMON SHARES | ||
Basic Shares Outstanding | ||
Diluted Shares Outstanding |
Balance Sheet
Concept | 2023 Q2 | 2022 Q4 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $3.240K | $37.74K |
YoY Change | -97.81% | -83.11% |
Cash & Equivalents | $3.236K | $37.74K |
Short-Term Investments | ||
Other Short-Term Assets | $281.4K | $33.45K |
YoY Change | -0.1% | -91.74% |
Inventory | ||
Prepaid Expenses | $281.4K | $33.45K |
Receivables | ||
Other Receivables | ||
Total Short-Term Assets | $284.6K | $71.20K |
YoY Change | -33.72% | -88.66% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | ||
YoY Change | ||
Goodwill | ||
YoY Change | ||
Intangibles | ||
YoY Change | ||
Long-Term Investments | $47.84M | $314.5M |
YoY Change | -84.58% | 1.44% |
Other Assets | $0.00 | |
YoY Change | -100.0% | |
Total Long-Term Assets | $47.84M | $314.5M |
YoY Change | -84.58% | 1.43% |
TOTAL ASSETS | ||
Total Short-Term Assets | $284.6K | $71.20K |
Total Long-Term Assets | $47.84M | $314.5M |
Total Assets | $48.12M | $314.6M |
YoY Change | -84.51% | 1.25% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $60.00K | |
YoY Change | ||
Accrued Expenses | $1.821M | $974.0K |
YoY Change | 114.98% | 37.3% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $2.092M | $258.8K |
YoY Change | 817.84% | |
Long-Term Debt Due | ||
YoY Change | ||
Total Short-Term Liabilities | $3.973M | $1.233M |
YoY Change | 269.62% | 73.78% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Other Long-Term Liabilities | $11.78M | $11.32M |
YoY Change | -9.98% | -45.64% |
Total Long-Term Liabilities | $11.78M | $11.32M |
YoY Change | -9.98% | -45.64% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $3.973M | $1.233M |
Total Long-Term Liabilities | $11.78M | $11.32M |
Total Liabilities | $15.75M | $12.56M |
YoY Change | 11.25% | -41.71% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$15.47M | -$12.49M |
YoY Change | 12.65% | -40.1% |
Common Stock | $1.823M | $1.162M |
YoY Change | 182.48% | |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | -$15.47M | -$12.49M |
YoY Change | ||
Total Liabilities & Shareholders Equity | $48.12M | $314.6M |
YoY Change | -84.51% | 1.25% |
Cashflow Statement
Concept | 2023 Q2 | 2022 Q4 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | $786.5K | $2.627M |
YoY Change | -72.69% | 475.98% |
Depreciation, Depletion And Amortization | ||
YoY Change | ||
Cash From Operating Activities | -$87.63K | -$80.83K |
YoY Change | -50.92% | -68.97% |
INVESTING ACTIVITIES | ||
Capital Expenditures | ||
YoY Change | ||
Acquisitions | ||
YoY Change | ||
Other Investing Activities | -$450.0K | $0.00 |
YoY Change | ||
Cash From Investing Activities | -$450.0K | $0.00 |
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 | 535.0K | 0.000 |
YoY Change | 134.7% | |
NET CHANGE | ||
Cash From Operating Activities | -87.63K | -80.83K |
Cash From Investing Activities | -450.0K | 0.000 |
Cash From Financing Activities | 535.0K | 0.000 |
Net Change In Cash | -2.630K | -80.83K |
YoY Change | -105.32% | -68.97% |
FREE CASH FLOW | ||
Cash From Operating Activities | -$87.63K | -$80.83K |
Capital Expenditures | ||
Free Cash Flow | ||
YoY Change |
Facts In Submission
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---|---|---|---|---|
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Document Type
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10-Q | ||
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true | ||
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Document Period End Date
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|
2023-06-30 | ||
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2023 | ||
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CONSTELLATION ACQUISITION CORP I | ||
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E9 | ||
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EntityFileNumber
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001-39945 | ||
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98-1574835 | ||
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200 Park Ave | ||
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32nd Floor | ||
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New York | ||
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NY | ||
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(914) | ||
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615-9912 | ||
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Yes | ||
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Non-accelerated Filer | ||
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|
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csta |
Shares Issued Price Per Share1
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10 | ||
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Liquidation Basis Of Accounting Accrued Costs To Dispose Of Assets And Liabilities
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|
100000 | usd |
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|
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Temporary Equity Shares Issued
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CY2022 | us-gaap |
Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
|
20150000 | usd |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<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">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">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> | ||
CY2023Q2 | us-gaap |
Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
|
269485746 | usd |
us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<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">Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts and a 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> | ||
us-gaap |
Insurance Commissions
InsuranceCommissions
|
250000 | usd | |
CY2023Q2 | us-gaap |
Business Acquisition Cost Of Acquired Entity Transaction Costs
BusinessAcquisitionCostOfAcquiredEntityTransactionCosts
|
17586741 | usd |
csta |
Noninterest Expense Offering Costs
NoninterestExpenseOfferingCosts
|
1143138 | usd | |
CY2022 | us-gaap |
Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
|
16443603 | usd |
CY2022 | us-gaap |
Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
|
41110871 | usd |
CY2022Q4 | us-gaap |
Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
|
314517268 | usd |
CY2023Q1 | csta |
Redemptions
Redemptions
|
269485746 | usd |
CY2023Q1 | us-gaap |
Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
|
1819906 | usd |
CY2023Q1 | us-gaap |
Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
|
46851428 | usd |
CY2023Q2 | us-gaap |
Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
|
986515 | usd |
CY2023Q2 | us-gaap |
Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
|
47837943 | usd |
csta |
Overallotment Option Expiration Date
OverallotmentOptionExpirationDate
|
2021-03-15 | ||
csta |
Trust Account
TrustAccount
|
10850000 | usd | |
CY2023Q1 | us-gaap |
Other Investments
OtherInvestments
|
3000000 | usd |
dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001834032 | ||
CY2021Q1 | csta |
Ordinary Shares Sold Units
OrdinarySharesSoldUnits
|
31000000 | shares |
CY2021Q1 | us-gaap |
Sale Of Stock Price Per Share
SaleOfStockPricePerShare
|
10 | |
CY2023Q2 | us-gaap |
Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
|
P5Y | |
us-gaap |
Sale Of Stock Description Of Transaction
SaleOfStockDescriptionOfTransaction
|
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. | ||
us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
usd | ||
us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
usd | ||
us-gaap |
Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
|
usd | ||
us-gaap |
Payments For Repurchase Of Other Equity
PaymentsForRepurchaseOfOtherEquity
|
usd | ||
CY2023Q2 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
shares | |
CY2022Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
shares | |
CY2022Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
shares | |
CY2023Q2 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
shares | |
dei |
Amendment Flag
AmendmentFlag
|
false | ||
dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | ||
dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q2 | ||
csta |
Redemption Of Warrants Description
RedemptionOfWarrantsDescription
|
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
FounderShares
|
1125000 | shares |
CY2021Q1 | us-gaap |
Stock Issued During Period Shares Share Based Compensation Forfeited
StockIssuedDuringPeriodSharesShareBasedCompensationForfeited
|
250000 | shares |
CY2021Q1 | csta |
Founder Shares Forfeited
FounderSharesForfeited
|
875000 | shares |
csta |
Initial Business Combination
InitialBusinessCombination
|
P1Y | ||
CY2020Q4 | us-gaap |
Debt Instrument Unused Borrowing Capacity Amount
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 |
CY2023Q2 | csta |
Outstanding Value
OutstandingValue
|
227208 | usd |
CY2022Q4 | csta |
Outstanding Value
OutstandingValue
|
258780 | usd |
CY2021Q1 | us-gaap |
Administrative Fees Expense
AdministrativeFeesExpense
|
10000 | usd |
CY2023Q2 | us-gaap |
Payment For Administrative Fees
PaymentForAdministrativeFees
|
30000 | usd |
us-gaap |
Payment For Administrative Fees
PaymentForAdministrativeFees
|
60000 | usd | |
CY2023Q2 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
60000 | usd |
csta |
Working Capital Loans
WorkingCapitalLoans
|
1500000 | usd | |
csta |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights
|
1.5 | ||
CY2023Q1 | us-gaap |
Related Party Tax Expense Due To Affiliates Current
RelatedPartyTaxExpenseDueToAffiliatesCurrent
|
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 | |
CY2023Q2 | us-gaap |
Deposits
Deposits
|
450000 | usd |
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 | |
CY2023Q2 | us-gaap |
Other Borrowings
OtherBorrowings
|
1865000 | usd |
CY2022Q4 | us-gaap |
Other Borrowings
OtherBorrowings
|
0 | usd |
dei |
Entity Address Postal Zip Code
EntityAddressPostalZipCode
|
00000 | ||
CY2023Q2 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | shares |
CY2023Q2 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
us-gaap |
Assets Fair Value Adjustment
AssetsFairValueAdjustment
|
606050 | usd | |
CY2022Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
usd | |
CY2022Q4 | us-gaap |
Convertible Notes Payable
ConvertibleNotesPayable
|
usd | |
us-gaap |
Increase Decrease In Due To Related Parties Current
IncreaseDecreaseInDueToRelatedPartiesCurrent
|
usd | ||
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
usd | ||
us-gaap |
Payments To Invest In Decommissioning Fund
PaymentsToInvestInDecommissioningFund
|
usd | ||
csta |
Cash Withdrawn From Trust Account In Connection With Redemption
CashWithdrawnFromTrustAccountInConnectionWithRedemption
|
usd | ||
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
usd |