2021 Q4 Form 10-Q Financial Statement
#000114036121041625 Filed on December 15, 2021
Income Statement
Concept | 2021 Q4 | 2021 Q3 |
---|---|---|
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 | $430.0K | $0.00 |
YoY Change | ||
Operating Profit | $0.00 | |
YoY Change | ||
Interest Expense | $4.770M | |
YoY Change | ||
% of Operating Profit | ||
Other Income/Expense, Net | -$510.0K | $0.00 |
YoY Change | ||
Pretax Income | $3.830M | $0.00 |
YoY Change | ||
Income Tax | $0.00 | |
% Of Pretax Income | ||
Net Earnings | $3.830M | $0.00 |
YoY Change | ||
Net Earnings / Revenue | ||
Basic Earnings Per Share | $0.00 | |
Diluted Earnings Per Share | $191.1K | $0.00 |
COMMON SHARES | ||
Basic Shares Outstanding | 5.750M | 5.000M |
Diluted Shares Outstanding | 5.000M |
Balance Sheet
Concept | 2021 Q4 | 2021 Q3 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $1.390M | |
YoY Change | ||
Cash & Equivalents | $0.00 | $0.00 |
Short-Term Investments | ||
Other Short-Term Assets | $460.0K | $500.0K |
YoY Change | ||
Inventory | ||
Prepaid Expenses | $462.8K | |
Receivables | ||
Other Receivables | ||
Total Short-Term Assets | $1.857M | $500.0K |
YoY Change | ||
LONG-TERM ASSETS | ||
Property, Plant & Equipment | ||
YoY Change | ||
Goodwill | ||
YoY Change | ||
Intangibles | ||
YoY Change | ||
Long-Term Investments | $234.6M | |
YoY Change | ||
Other Assets | $360.0K | |
YoY Change | ||
Total Long-Term Assets | $235.0M | $17.40K |
YoY Change | ||
TOTAL ASSETS | ||
Total Short-Term Assets | $1.857M | $500.0K |
Total Long-Term Assets | $235.0M | $17.40K |
Total Assets | $236.8M | $517.4K |
YoY Change | ||
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | ||
YoY Change | ||
Accrued Expenses | $656.3K | $418.4K |
YoY Change | ||
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $0.00 | $100.0K |
YoY Change | ||
Long-Term Debt Due | ||
YoY Change | ||
Total Short-Term Liabilities | $827.3K | $493.4K |
YoY Change | ||
LONG-TERM LIABILITIES | ||
Long-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Other Long-Term Liabilities | $20.45M | |
YoY Change | ||
Total Long-Term Liabilities | $20.45M | $0.00 |
YoY Change | ||
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $827.3K | $493.4K |
Total Long-Term Liabilities | $20.45M | $0.00 |
Total Liabilities | $21.28M | $500.0K |
YoY Change | ||
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$19.07M | -$962.00 |
YoY Change | ||
Common Stock | ||
YoY Change | ||
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | -$19.06M | $24.04K |
YoY Change | ||
Total Liabilities & Shareholders Equity | $236.8M | $517.4K |
YoY Change |
Cashflow Statement
Concept | 2021 Q4 | 2021 Q3 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | $3.830M | $0.00 |
YoY Change | ||
Depreciation, Depletion And Amortization | ||
YoY Change | ||
Cash From Operating Activities | -$420.0K | $0.00 |
YoY Change | ||
INVESTING ACTIVITIES | ||
Capital Expenditures | ||
YoY Change | ||
Acquisitions | ||
YoY Change | ||
Other Investing Activities | -$234.6M | |
YoY Change | ||
Cash From Investing Activities | -$234.6M | |
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 | 236.4M | |
YoY Change | ||
NET CHANGE | ||
Cash From Operating Activities | -420.0K | 0.000 |
Cash From Investing Activities | -234.6M | |
Cash From Financing Activities | 236.4M | |
Net Change In Cash | 1.400M | 0.000 |
YoY Change | ||
FREE CASH FLOW | ||
Cash From Operating Activities | -$420.0K | $0.00 |
Capital Expenditures | ||
Free Cash Flow | ||
YoY Change |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
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Amendment Flag
AmendmentFlag
|
false | ||
dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | ||
dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2021 | ||
dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q3 | ||
dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001854480 | ||
dei |
Document Type
DocumentType
|
10-Q | ||
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Document Quarterly Report
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true | ||
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Document Period End Date
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2021-09-30 | ||
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Document Transition Report
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Entity File Number
EntityFileNumber
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001-40977 | ||
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Entity Registrant Name
EntityRegistrantName
|
Focus Impact Acquisition Corp. | ||
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Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
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DE | ||
dei |
Entity Tax Identification Number
EntityTaxIdentificationNumber
|
86-2433757 | ||
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Entity Address Address Line1
EntityAddressAddressLine1
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250 Park Avenue Ste 911 | ||
dei |
Entity Address City Or Town
EntityAddressCityOrTown
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New York | ||
dei |
Entity Address State Or Province
EntityAddressStateOrProvince
|
NY | ||
dei |
Entity Address Postal Zip Code
EntityAddressPostalZipCode
|
10177 | ||
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City Area Code
CityAreaCode
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212 | ||
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Local Phone Number
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213-0243 | ||
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Entity Current Reporting Status
EntityCurrentReportingStatus
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No | ||
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Entity Interactive Data Current
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Entity Filer Category
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517402 | |
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Assets
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517402 | |
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Accrued Liabilities Current
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418373 | |
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74991 | |
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Liabilities Current
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493364 | |
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Commitments And Contingencies
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||
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Preferred Stock Par Or Stated Value Per Share
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Preferred Stock Shares Authorized
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1000000 | |
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Preferred Stock Shares Outstanding
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0 | |
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Preferred Stock Shares Issued
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0 | |
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Preferred Stock Value
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0 | |
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Additional Paid In Capital
AdditionalPaidInCapital
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24425 | |
CY2021Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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-962 | |
CY2021Q3 | us-gaap |
Stockholders Equity
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24038 | |
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Liabilities And Stockholders Equity
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517402 | |
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-962 | ||
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0 | |
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Net Income Loss
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-962 | ||
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Weighted Average Number Of Shares Outstanding Basic
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5000000 | |
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5000000 | |
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Stockholders Equity
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Stock Issued During Period Value Issued For Services
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25000 | |
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Net Cash Provided By Used In Operating Activities
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Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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fiac |
Deferred Offering Costs Paid By Related Party In Exchange For Issuance Of Shares
DeferredOfferingCostsPaidByRelatedPartyInExchangeForIssuanceOfShares
|
25000 | ||
fiac |
Due To Related Party Offering Costs
DueToRelatedPartyOfferingCosts
|
74991 | ||
fiac |
Deferred Offering Costs Included In Accrued Offering Costs And Expenses
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Use Of Estimates
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<div style="text-align: justify; font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">Use of Estimates</div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The preparation of the financial statements in conformity with US 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 expenses during the reporting period. Actual results could differ from those estimates.</div> | ||
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Cash And Cash Equivalents At Carrying Value
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<div style="text-align: justify; color: rgb(0, 0, 0); font-weight: bold; font-family: 'Times New Roman'; font-size: 10pt;">Warrant Liability</div> <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br/> </div> <div style="display:none;"><br/></div> <div style="text-align: justify; text-indent: 18pt; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">The Company accounted for the 22,700,000 warrants issued in connection with the IPO and Private Placement in accordance with the guidance contained in FASB ASC 815 “Derivatives and Hedging” whereby under that provision the warrants do not meet the criteria for equity treatment and must be recorded as a liability. Accordingly, the Company classified the warrant instrument as a liability at fair value and will adjust the instrument to fair value at each reporting period. This liability will be re-measured at each balance sheet date until the warrants are exercised or expire, and any change in fair value will be recognized in the Company’s statement of operations. The fair value of warrants was estimated using an internal valuation model. The valuation model utilized inputs such as assumed share prices, volatility, discount factors and other assumptions and may not be reflective of the price at which they can be settled. Such warrant classification is also subject to re-evaluation at each reporting period.</div> | ||
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Additional Units That Can Be Purchased To Cover Over Allotments
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3000000 | |
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Deferred Underwriting Fee Per Unit
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0.376 | ||
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Underwriting Fees Deferred
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8650000 | |
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Preferred Stock Shares Authorized
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1000000 | |
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Preferred Stock Par Or Stated Value Per Share
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0.0001 | |
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Preferred Stock Shares Outstanding
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0.20 |