2021 Q4 Form 10-Q Financial Statement

#000114036121041625 Filed on December 15, 2021

View on sec.gov

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

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dei Current Fiscal Year End Date
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--12-31
dei Document Fiscal Year Focus
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2021
dei Document Fiscal Period Focus
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Q3
dei Entity Central Index Key
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dei Document Type
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10-Q
dei Document Quarterly Report
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true
dei Document Period End Date
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2021-09-30
dei Document Transition Report
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false
dei Entity File Number
EntityFileNumber
001-40977
dei Entity Registrant Name
EntityRegistrantName
Focus Impact Acquisition Corp.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
86-2433757
dei Entity Address Address Line1
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250 Park Avenue Ste 911
dei Entity Address City Or Town
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New York
dei Entity Address State Or Province
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NY
dei Entity Address Postal Zip Code
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10177
dei City Area Code
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dei Local Phone Number
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213-0243
dei Entity Current Reporting Status
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dei Entity Filer Category
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fiac Deferred Offering Costs Paid By Related Party In Exchange For Issuance Of Shares
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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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<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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