2024 Q1 Form 10-Q Financial Statement
#000121390024043629 Filed on May 15, 2024
Income Statement
Concept | 2024 Q1 | 2023 Q1 | 2023 |
---|---|---|---|
Revenue | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $788.3K | $3.560M | |
YoY Change | |||
% of Gross Profit | |||
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | |||
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | $55.00K | $1.315M | $65.00K |
YoY Change | -95.82% | 468.32% | -94.13% |
Operating Profit | -$788.3K | -$1.315M | -$3.560M |
YoY Change | -40.05% | 468.34% | 221.71% |
Interest Expense | $389.0K | $328.3K | $3.026M |
YoY Change | 18.49% | 7481.52% | -32.36% |
% of Operating Profit | |||
Other Income/Expense, Net | $294.2K | $328.3K | $3.200M |
YoY Change | -10.38% | -93.08% | -77.12% |
Pretax Income | -$494.2K | -$986.8K | -$360.5K |
YoY Change | -49.93% | -121.85% | -102.8% |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$494.2K | -$986.8K | -$360.5K |
YoY Change | -49.93% | -121.85% | -102.8% |
Net Earnings / Revenue | |||
Basic Earnings Per Share | |||
Diluted Earnings Per Share | -$0.05 | -$0.05 | -$0.03 |
COMMON SHARES | |||
Basic Shares Outstanding | |||
Diluted Shares Outstanding |
Balance Sheet
Concept | 2024 Q1 | 2023 Q1 | 2023 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $3.860K | $5.860K | $3.540K |
YoY Change | -34.13% | -94.04% | -90.62% |
Cash & Equivalents | $3.858K | $5.864K | |
Short-Term Investments | |||
Other Short-Term Assets | $126.8K | $405.4K | $33.41K |
YoY Change | -68.71% | 19.33% | -0.12% |
Inventory | |||
Prepaid Expenses | $126.9K | $405.4K | |
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $130.7K | $411.2K | $36.95K |
YoY Change | -68.21% | -6.12% | -48.1% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | |||
YoY Change | |||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | $26.74M | $46.85M | $49.86M |
YoY Change | -42.93% | -84.89% | -84.15% |
Other Assets | $0.00 | ||
YoY Change | |||
Total Long-Term Assets | $26.74M | $46.85M | $49.86M |
YoY Change | -42.93% | -84.89% | -84.15% |
TOTAL ASSETS | |||
Total Short-Term Assets | $130.7K | $411.2K | $36.95K |
Total Long-Term Assets | $26.74M | $46.85M | $49.86M |
Total Assets | $26.87M | $47.26M | $49.89M |
YoY Change | -43.15% | -84.78% | -84.14% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $30.00K | ||
YoY Change | |||
Accrued Expenses | $3.578M | $1.751M | $3.081M |
YoY Change | 104.36% | 141.71% | 216.29% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $3.878M | $968.9K | $3.358M |
YoY Change | 300.27% | 1197.71% | |
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $7.606M | $2.750M | $6.559M |
YoY Change | 176.62% | 279.62% | 432.04% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $11.25M | $12.34M | $11.15M |
YoY Change | -8.86% | -23.32% | -1.53% |
Total Long-Term Liabilities | $11.25M | $12.34M | $11.15M |
YoY Change | -8.86% | -23.32% | -1.53% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $7.606M | $2.750M | $6.559M |
Total Long-Term Liabilities | $11.25M | $12.34M | $11.15M |
Total Liabilities | $18.85M | $15.09M | $17.71M |
YoY Change | 24.94% | -10.27% | 41.03% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$18.72M | -$14.68M | |
YoY Change | 27.55% | ||
Common Stock | $1.597M | ||
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$18.72M | -$14.68M | $32.19M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $26.87M | $47.26M | $49.89M |
YoY Change | -43.15% | -84.78% | -84.14% |
Cashflow Statement
Concept | 2024 Q1 | 2023 Q1 | 2023 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$494.2K | -$986.8K | -$360.5K |
YoY Change | -49.93% | -121.85% | -102.8% |
Depreciation, Depletion And Amortization | |||
YoY Change | |||
Cash From Operating Activities | -$354.7K | -$880.3K | -$1.334M |
YoY Change | -59.71% | 603.96% | 200.09% |
INVESTING ACTIVITIES | |||
Capital Expenditures | |||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $23.51M | $269.0M | $267.7M |
YoY Change | -91.26% | ||
Cash From Investing Activities | $23.51M | $269.0M | $267.7M |
YoY Change | -91.26% | ||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $23.67M | $269.5M | |
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -$23.15M | -$268.2M | -$266.4M |
YoY Change | -91.37% | -103039.3% | |
NET CHANGE | |||
Cash From Operating Activities | -$354.7K | -$880.3K | -$1.334M |
Cash From Investing Activities | $23.51M | $269.0M | $267.7M |
Cash From Financing Activities | -$23.15M | -$268.2M | -$266.4M |
Net Change In Cash | $317.00 | -$31.88K | -$34.20K |
YoY Change | -100.99% | -81.58% | |
FREE CASH FLOW | |||
Cash From Operating Activities | -$354.7K | -$880.3K | -$1.334M |
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
Facts In Submission
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2024-03-31 | |
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200 Park Avenue | |
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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 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 unaudited condensed 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 unaudited condensed 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> | |
CY2024Q1 | csta |
Proceeds From Cash Withdrawn From Trust Account In Connection With Redemption
ProceedsFromCashWithdrawnFromTrustAccountInConnectionWithRedemption
|
23671533 | usd |
CY2024Q1 | 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> | |
CY2024Q1 | us-gaap |
Time Deposits At Or Above Fdic Insurance Limit
TimeDepositsAtOrAboveFDICInsuranceLimit
|
250000 | usd |
CY2024Q1 | csta |
Transaction Costs
TransactionCosts
|
17586741 | usd |
CY2024Q1 | us-gaap |
Temporary Equity Shares Issued
TemporaryEquitySharesIssued
|
2367684 | shares |
CY2023Q4 | us-gaap |
Temporary Equity Shares Issued
TemporaryEquitySharesIssued
|
4493843 | shares |
CY2022Q4 | us-gaap |
Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
|
314517268 | usd |
CY2023 | us-gaap |
Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
|
269485746 | usd |
CY2023 | us-gaap |
Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
|
4826074 | usd |
CY2023Q4 | us-gaap |
Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
|
49857596 | usd |
CY2024Q1 | us-gaap |
Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
|
553991 | usd |
CY2024Q1 | us-gaap |
Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
|
23671533 | usd |
CY2024Q1 | us-gaap |
Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
|
26740054 | usd |
CY2024Q1 | us-gaap |
Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
|
P5Y | |
CY2024Q1 | csta |
Issue Price Or Effective Issue Price
IssuePriceOrEffectiveIssuePrice
|
9.2 | |
CY2024Q1 | csta |
Market Value Percentage
MarketValuePercentage
|
1 | pure |
CY2024Q1 | csta |
Newly Issued Price Percentage
NewlyIssuedPricePercentage
|
1.80 | pure |
CY2024Q1 | csta |
Class Of Warrant Or Right Redemption Of Warrants Or Rights Stock Price Trigger
ClassOfWarrantOrRightRedemptionOfWarrantsOrRightsStockPriceTrigger
|
18 | |
CY2024Q1 | csta |
Redemption Price Per Warrant
RedemptionPricePerWarrant
|
0.01 | |
CY2024Q1 | csta |
Warrants Price Per Shares
WarrantsPricePerShares
|
0.1 | |
CY2024Q1 | csta |
Prior Written Notice Of Redemption Term
PriorWrittenNoticeOfRedemptionTerm
|
P30D | |
CY2024Q1 | csta |
Redeem Warrants Per Share
RedeemWarrantsPerShare
|
0.1 | |
CY2024Q1 | us-gaap |
Shares Issued Price Per Share
SharesIssuedPricePerShare
|
10 | |
CY2024Q1 | us-gaap |
Net Asset Value Per Share
NetAssetValuePerShare
|
18 | |
CY2024Q1 | csta |
Number Of Trading Days
NumberOfTradingDays
|
P10D | |
CY2024Q1 | us-gaap |
Stock Issued During Period Shares Share Based Compensation Forfeited
StockIssuedDuringPeriodSharesShareBasedCompensationForfeited
|
1125000 | shares |
CY2024Q1 | csta |
Initial Business Combination
InitialBusinessCombination
|
P1Y | |
CY2020Q4 | us-gaap |
Debt Instrument Face Amount
DebtInstrumentFaceAmount
|
1300 | usd |
CY2021Q1 | csta |
Additional Debt Instrument Of Face Amount
AdditionalDebtInstrumentOfFaceAmount
|
88540 | usd |
CY2021Q1 | us-gaap |
Debt Instrument Repaid Principal
DebtInstrumentRepaidPrincipal
|
89840 | usd |
CY2021Q1 | us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
699999 | usd |
CY2022Q4 | csta |
Unsecured Promissory Note Principal Amount
UnsecuredPromissoryNotePrincipalAmount
|
258780 | usd |
CY2024Q1 | csta |
Unsecured Promissory Note Principal Amount
UnsecuredPromissoryNotePrincipalAmount
|
1660000 | usd |
CY2024Q1 | us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
470000 | usd |
CY2024Q1 | csta |
Outstanding Promissory Notes
OutstandingPromissoryNotes
|
697208 | usd |
CY2023Q4 | csta |
Outstanding Promissory Notes
OutstandingPromissoryNotes
|
227208 | usd |
CY2024Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
55000 | usd |
CY2023 | us-gaap |
Operating Expenses
OperatingExpenses
|
65000 | usd |
CY2021Q1 | us-gaap |
Payment For Administrative Fees
PaymentForAdministrativeFees
|
10000 | usd |
CY2024Q1 | us-gaap |
Administrative Fees Expense
AdministrativeFeesExpense
|
30000 | usd |
CY2023Q1 | us-gaap |
Administrative Fees Expense
AdministrativeFeesExpense
|
30000 | usd |
CY2023 | us-gaap |
Administrative Fees Expense
AdministrativeFeesExpense
|
120000 | usd |
CY2024Q1 | csta |
Working Capital Loans
WorkingCapitalLoans
|
1500000 | usd |
CY2024Q1 | csta |
Price Paid Per Warrant
PricePaidPerWarrant
|
1.5 | |
CY2024Q1 | us-gaap |
Notes Payable Current
NotesPayableCurrent
|
227208 | usd |
CY2023Q4 | us-gaap |
Notes Payable Current
NotesPayableCurrent
|
227208 | usd |
CY2024Q1 | us-gaap |
Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
|
150000 | usd |
CY2023Q1 | us-gaap |
Debt Instrument Issued Principal
DebtInstrumentIssuedPrincipal
|
450000 | usd |
CY2023Q1 | us-gaap |
Debt Instrument Repaid Principal
DebtInstrumentRepaidPrincipal
|
1270000 | usd |
CY2024Q1 | us-gaap |
Investment Owned Balance Principal Amount
InvestmentOwnedBalancePrincipalAmount
|
3181000 | usd |
CY2023Q4 | us-gaap |
Investment Owned Balance Principal Amount
InvestmentOwnedBalancePrincipalAmount
|
3131000 | usd |
CY2024Q1 | csta |
Deferred Underwriting Fees Payable
DeferredUnderwritingFeesPayable
|
10850000 | usd |
CY2023Q1 | us-gaap |
Business Combination Consideration Transferred Liabilities Incurred
BusinessCombinationConsiderationTransferredLiabilitiesIncurred
|
3000000 | usd |
CY2024Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | shares |
CY2024Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2024Q1 | csta |
Ordinary Shares Outstanding Percentage
OrdinarySharesOutstandingPercentage
|
0.20 | pure |
CY2024Q1 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false | |
CY2024Q1 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
CY2024Q1 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false | |
CY2024Q1 | ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | |
CY2023Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
usd | |
CY2023Q4 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
usd | |
CY2024Q1 | us-gaap |
Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
|
usd | |
CY2024Q1 | us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
usd | |
CY2023Q1 | us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
usd | |
CY2024Q1 | dei |
Amendment Flag
AmendmentFlag
|
false | |
CY2024Q1 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | |
CY2024Q1 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q1 | |
CY2024Q1 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001834032 |