$ECDA
ECD Automotive Design, Inc.

2023 Q3 Form 10-Q Financial Statement

#000149315223030240 Filed on August 25, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $3.638M $4.913M
YoY Change
Cost Of Revenue $1.805M $3.185M
YoY Change
Gross Profit $1.833M $1.728M
YoY Change
Gross Profit Margin 50.4% 35.17%
Selling, General & Admin $1.517M $1.320M
YoY Change
% of Gross Profit 82.77% 76.38%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $31.21K $53.99K
YoY Change
% of Gross Profit 1.7% 3.12%
Operating Expenses $1.267M $1.342M
YoY Change
Operating Profit -$614.2K -$868.1K -$1.179K
YoY Change 1972.6% 73528.5%
Interest Expense $6.650K $1.148M
YoY Change -94.76%
% of Operating Profit
Other Income/Expense, Net $484.0K $1.148M -$62.50K
YoY Change 281.45% -1937.0%
Pretax Income -$130.3K $280.0K -$63.68K
YoY Change -233.94% -539.78%
Income Tax $91.14K $230.6K
% Of Pretax Income 82.35%
Net Earnings -$221.4K $49.44K -$63.68K
YoY Change -403.85% -177.64%
Net Earnings / Revenue -6.09% 1.01%
Basic Earnings Per Share $0.00
Diluted Earnings Per Share $0.01 $0.00
COMMON SHARES
Basic Shares Outstanding 6.625M shares 14.63M shares
Diluted Shares Outstanding 24.00M shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.183M $2.278M
YoY Change
Cash & Equivalents $163.00 $3.163K $82.00
Short-Term Investments
Other Short-Term Assets $63.83K $63.13K
YoY Change
Inventory $11.74M $3.462M
Prepaid Expenses $20.50K $41.58K
Receivables $2.491M $2.164M
Other Receivables $33.28K $33.28K
Total Short-Term Assets $88.69K $151.8K
YoY Change -88.8%
LONG-TERM ASSETS
Property, Plant & Equipment $4.921M $5.096M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $75.99K $75.99K
YoY Change
Total Long-Term Assets $37.75M $37.02M
YoY Change -67.56%
TOTAL ASSETS
Total Short-Term Assets $88.69K $151.8K
Total Long-Term Assets $37.75M $37.02M
Total Assets $37.83M $37.17M
YoY Change -67.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $878.6K $575.4K
YoY Change
Accrued Expenses $150.5K $380.6K
YoY Change 688.91%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $3.205M
YoY Change
Total Short-Term Liabilities $4.005M $3.474M
YoY Change 921.54%
LONG-TERM LIABILITIES
Long-Term Debt $500.0K $500.0K
YoY Change
Other Long-Term Liabilities $4.068M $4.239M
YoY Change
Total Long-Term Liabilities $4.568M $4.739M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $4.005M $3.474M
Total Long-Term Liabilities $4.568M $4.739M
Total Liabilities $8.381M $7.499M
YoY Change 89.75%
SHAREHOLDERS EQUITY
Retained Earnings -$7.332M -$6.533M
YoY Change 113.72%
Common Stock $313.00 $313.00
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$7.331M -$6.533M $22.66K
YoY Change
Total Liabilities & Shareholders Equity $37.83M $37.17M
YoY Change -67.7%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$221.4K $49.44K -$63.68K
YoY Change -403.85% -177.64%
Depreciation, Depletion And Amortization $31.21K $53.99K
YoY Change
Cash From Operating Activities -$205.5K -$1.078M
YoY Change
INVESTING ACTIVITIES
Capital Expenditures $12.57K $13.72K
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$12.57K -$13.72K
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 3.123M -155.2K
YoY Change
NET CHANGE
Cash From Operating Activities -205.5K -1.078M
Cash From Investing Activities -12.57K -13.72K
Cash From Financing Activities 3.123M -155.2K
Net Change In Cash 2.904M -1.247M
YoY Change
FREE CASH FLOW
Cash From Operating Activities -$205.5K -$1.078M
Capital Expenditures $12.57K $13.72K
Free Cash Flow -$218.1K -$1.092M
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2023Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
CY2022Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
us-gaap Share Based Compensation
ShareBasedCompensation
usd
dei Entity Central Index Key
EntityCentralIndexKey
0001922858
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
CY2023Q2 us-gaap Notes Payable Current
NotesPayableCurrent
usd
CY2023Q2 us-gaap Preferred Stock Value
PreferredStockValue
usd
CY2022Q4 us-gaap Preferred Stock Value
PreferredStockValue
usd
CY2023Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
usd
CY2022Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
usd
CY2023Q2 us-gaap Share Based Compensation
ShareBasedCompensation
usd
CY2022Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
usd
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
usd
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
usd
us-gaap Share Based Compensation
ShareBasedCompensation
usd
us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
usd
EFHT Increase Decrease In Short Term Prepaid Insurance
IncreaseDecreaseInShortTermPrepaidInsurance
usd
us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
usd
EFHT Increase Decrease In Long Term Prepaid Insurance
IncreaseDecreaseInLongTermPrepaidInsurance
usd
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
usd
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
usd
EFHT Cash Withdrawn From Trust Account To Pay Franchise And Income Taxes
CashWithdrawnFromTrustAccountToPayFranchiseAndIncomeTaxes
usd
EFHT Cash Withdrawn From Trust Account In Connection With Redemption
CashWithdrawnFromTrustAccountInConnectionWithRedemption
usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
usd
EFHT Payments For Redemption Of Common Stock
PaymentsForRedemptionOfCommonStock
usd
EFHT Noncash Offering Costs Included In Accrued Offering Costs
NoncashOfferingCostsIncludedInAccruedOfferingCosts
usd
EFHT Non Cash Excise Tax Payable Attributable To Redemption Of Common Stock
NonCashExciseTaxPayableAttributableToRedemptionOfCommonStock
usd
EFHT Noncash Accretion Of Class Common Stock To Redemption Value
NoncashAccretionOfClassCommonStockToRedemptionValue
usd
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2023-06-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-41497
dei Entity Registrant Name
EntityRegistrantName
EF HUTTON ACQUISITION CORPORATION I
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
86-2559175
dei Entity Address Address Line1
EntityAddressAddressLine1
24 Shipyard Drive
dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 102
dei Entity Address City Or Town
EntityAddressCityOrTown
Hingham
dei Entity Address State Or Province
EntityAddressStateOrProvince
MA
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
02043
dei City Area Code
CityAreaCode
(929)
dei Local Phone Number
LocalPhoneNumber
528-0767
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
dei Entity Ex Transition Period
EntityExTransitionPeriod
false
dei Entity Shell Company
EntityShellCompany
true
CY2023Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
6625147 shares
CY2023Q2 us-gaap Cash
Cash
3163 usd
CY2022Q4 us-gaap Cash
Cash
546210 usd
CY2023Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
41580 usd
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
9082 usd
CY2023Q2 EFHT Shortterm Prepaid Insurance
ShorttermPrepaidInsurance
107033 usd
CY2022Q4 EFHT Shortterm Prepaid Insurance
ShorttermPrepaidInsurance
156000 usd
CY2023Q2 us-gaap Assets Current
AssetsCurrent
151776 usd
CY2022Q4 us-gaap Assets Current
AssetsCurrent
711292 usd
CY2022Q4 us-gaap Prepaid Expense Noncurrent
PrepaidExpenseNoncurrent
29033 usd
CY2023Q2 us-gaap Marketable Securities Noncurrent
MarketableSecuritiesNoncurrent
37022036 usd
CY2022Q4 us-gaap Marketable Securities Noncurrent
MarketableSecuritiesNoncurrent
117254670 usd
CY2023Q2 us-gaap Assets
Assets
37173812 usd
CY2022Q4 us-gaap Assets
Assets
117994995 usd
CY2023Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
1962588 usd
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
153405 usd
CY2023Q2 EFHT Accrued Offering Costs Current
AccruedOfferingCostsCurrent
205000 usd
CY2022Q4 EFHT Accrued Offering Costs Current
AccruedOfferingCostsCurrent
301797 usd
CY2023Q2 EFHT Excise Tax Payable Current
ExciseTaxPayableCurrent
824985 usd
CY2022Q4 us-gaap Notes Payable Current
NotesPayableCurrent
19700 usd
CY2023Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
481374 usd
CY2022Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
206393 usd
CY2023Q2 us-gaap Liabilities Current
LiabilitiesCurrent
3473947 usd
CY2022Q4 us-gaap Liabilities Current
LiabilitiesCurrent
681295 usd
CY2023Q2 us-gaap Deferred Compensation Liability Classified Noncurrent
DeferredCompensationLiabilityClassifiedNoncurrent
4025000 usd
CY2022Q4 us-gaap Deferred Compensation Liability Classified Noncurrent
DeferredCompensationLiabilityClassifiedNoncurrent
4025000 usd
CY2023Q2 us-gaap Liabilities
Liabilities
7498947 usd
CY2022Q4 us-gaap Liabilities
Liabilities
4706295 usd
CY2023Q2 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
3492647 shares
CY2022Q4 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
11500000 shares
CY2023Q2 us-gaap Temporary Equity Redemption Price Per Share
TemporaryEquityRedemptionPricePerShare
10.37
CY2022Q4 us-gaap Temporary Equity Redemption Price Per Share
TemporaryEquityRedemptionPricePerShare
10.16
CY2023Q2 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
36207414 usd
CY2022Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
116826168 usd
CY2023Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2023Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2023Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2023Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
3132500 shares
CY2023Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
3132500 shares
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
3132500 shares
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
3132500 shares
CY2023Q2 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
3492647 shares
CY2022Q4 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
11500000 shares
CY2023Q2 us-gaap Common Stock Value
CommonStockValue
313 usd
CY2022Q4 us-gaap Common Stock Value
CommonStockValue
313 usd
CY2023Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-6532862 usd
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-3537781 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
-6532549 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
-3537468 usd
CY2023Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
37173812 usd
CY2022Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
117994995 usd
CY2023Q2 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
868080 usd
CY2022Q2 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
1179 usd
us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
2201235 usd
us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
1847 usd
CY2023Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-868080 usd
CY2022Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-1179 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-2201235 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-1847 usd
CY2022Q2 us-gaap Share Based Compensation
ShareBasedCompensation
62500 usd
us-gaap Share Based Compensation
ShareBasedCompensation
62500 usd
CY2023Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
1148125 usd
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
2392256 usd
CY2023Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
1148125 usd
CY2022Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-62500 usd
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
2392256 usd
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-62500 usd
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
280045 usd
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-63679 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
191021 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-64347 usd
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
230607 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
481374 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
49438 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-63679 usd
us-gaap Net Income Loss
NetIncomeLoss
-290353 usd
us-gaap Net Income Loss
NetIncomeLoss
-64347 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
-3537468 usd
CY2023Q1 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
939518 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-339791 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
-4816777 usd
CY2023Q2 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
940225 usd
CY2023Q2 EFHT Excise Tax Payable Attributable To Redemption Of Common Stock
ExciseTaxPayableAttributableToRedemptionOfCommonStock
824985 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
49438 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
-6532549 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
24510 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-668 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
23842 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
23842 usd
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
62500 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-63679 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-63679 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
22663 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
22663 usd
us-gaap Net Income Loss
NetIncomeLoss
-290353 usd
us-gaap Net Income Loss
NetIncomeLoss
-64347 usd
us-gaap Share Based Compensation
ShareBasedCompensation
62500 usd
us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
2392256 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
32498 usd
EFHT Increase Decrease In Short Term Prepaid Insurance
IncreaseDecreaseInShortTermPrepaidInsurance
-48967 usd
us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
-4996 usd
EFHT Increase Decrease In Long Term Prepaid Insurance
IncreaseDecreaseInLongTermPrepaidInsurance
-29033 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1809183 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
668 usd
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
274981 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-552943 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-6175 usd
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
80000 usd
EFHT Cash Withdrawn From Trust Account To Pay Franchise And Income Taxes
CashWithdrawnFromTrustAccountToPayFranchiseAndIncomeTaxes
206393 usd
EFHT Cash Withdrawn From Trust Account In Connection With Redemption
CashWithdrawnFromTrustAccountInConnectionWithRedemption
82498497 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
82624890 usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
16000 usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
19700 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
96797 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
34743 usd
EFHT Payments For Redemption Of Common Stock
PaymentsForRedemptionOfCommonStock
82498497 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-82614994 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-18743 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-543047 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-24918 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
546210 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
25000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3163 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
82 usd
EFHT Noncash Offering Costs Included In Accrued Offering Costs
NoncashOfferingCostsIncludedInAccruedOfferingCosts
84895 usd
EFHT Non Cash Excise Tax Payable Attributable To Redemption Of Common Stock
NonCashExciseTaxPayableAttributableToRedemptionOfCommonStock
824985 usd
EFHT Noncash Accretion Of Class Common Stock To Redemption Value
NoncashAccretionOfClassCommonStockToRedemptionValue
1879743 usd
CY2022Q3 us-gaap Sale Of Stock Consideration Received Per Transaction
SaleOfStockConsiderationReceivedPerTransaction
115000000 usd
CY2022Q3 EFHT Transaction Costs Amount
TransactionCostsAmount
4950750 usd
CY2022Q3 EFHT Sale Of Stock Underwriting Fees
SaleOfStockUnderwritingFees
4025000 usd
CY2022Q3 EFHT Sale Of Stock Other Offering Costs
SaleOfStockOtherOfferingCosts
925750 usd
CY2022Q3 EFHT Interest On Dissolution Expenses
InterestOnDissolutionExpenses
100000 usd
CY2023Q2 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
10.10
CY2023Q2 EFHT Percent Of Obligation To Redeem Public Shares
PercentOfObligationToRedeemPublicShares
1 pure
EFHT Interest On Dissolution Expenses
InterestOnDissolutionExpenses
100000 usd
CY2023Q2 us-gaap Share Price
SharePrice
10.10
CY2023Q2 EFHT Minimum Tangible Assets For Business Combination
MinimumTangibleAssetsForBusinessCombination
5000001 usd
EFHT Interest On Dissolution Expenses
InterestOnDissolutionExpenses
100000 usd
EFHT Percentage Obligation To Redeem Public Shares If Entity Does Not Complete Business Combination
PercentageObligationToRedeemPublicSharesIfEntityDoesNotCompleteBusinessCombination
1 pure
CY2023Q2 us-gaap Stock Redeemed Or Called During Period Shares
StockRedeemedOrCalledDuringPeriodShares
8007353 shares
CY2023Q2 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
82498497 usd
CY2023Q2 us-gaap Deposits
Deposits
80000 usd
CY2023Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
8007353 shares
CY2023Q2 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
82498497 usd
EFHT Excise Tax Percentage
ExciseTaxPercentage
0.01 pure
CY2023Q2 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
824985 usd
CY2022 us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
8304420 usd
us-gaap Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
1879743 usd
CY2022 us-gaap Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
12476505 usd
CY2022 EFHT Common Stock Subject To Possible Redemption
CommonStockSubjectToPossibleRedemption
116826168 usd
EFHT Redemption Of Common Stock Value
RedemptionOfCommonStockValue
-82498497 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84F_eus-gaap--UseOfEstimates_zcrX4ske9f6i" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86B_zGkw4simUuBk">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of unaudited condensed consolidated 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 financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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. Accordingly, the actual results could differ significantly from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q2 us-gaap Cash
Cash
3163 usd
CY2022Q4 us-gaap Cash
Cash
546210 usd
CY2023Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2022Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2023Q2 EFHT Working Capital Deficit
WorkingCapitalDeficit
2607549 usd
CY2022Q4 EFHT Working Capital Deficit
WorkingCapitalDeficit
358499 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_848_eus-gaap--ConcentrationRiskCreditRisk_zye9CRzyjtea" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_866_z7paru7KwBW9">Concentration of Credit Risk</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed the Federal Deposit Insurance Corporation coverage of $<span id="xdx_907_eus-gaap--CashFDICInsuredAmount_iI_c20230630_zEaw28rPDNIh" title="Federal deposit insurance corporation coverage, amount">250,000</span>. The Company has not experienced losses on this account.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
us-gaap Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
1879743 usd
EFHT Common Stock Subject To Possible Redemption
CommonStockSubjectToPossibleRedemption
36207414 usd
CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.8235 pure
CY2022Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0000 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
2.5200 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0000 pure
CY2023Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2022Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2022 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
115000000 usd
CY2022 us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
1016600 usd
CY2022 EFHT Proceeds From Issuance Of Allocated To Public Rights
ProceedsFromIssuanceOfAllocatedToPublicRights
1329317 usd
CY2022Q3 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
10.00
CY2022Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
11.50
CY2023Q2 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
10.00
CY2023Q2 us-gaap Loans Payable
LoansPayable
0 usd
CY2022Q4 us-gaap Loans Payable
LoansPayable
0 usd
CY2023Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2023Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2023Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
8007353 shares
CY2023Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
3132500 shares
CY2023Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
3132500 shares
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
3132500 shares
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
3132500 shares
CY2023Q2 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
3492647 shares
CY2022Q4 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
11500000 shares
CY2023Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
11757500 shares
CY2022Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
11757500 shares
CY2023Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
11.50
CY2022Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
11.50
CY2023Q2 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
11757500 usd
CY2022Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
11757500 usd

Files In Submission

Name View Source Status
0001493152-23-030240-index-headers.html Edgar Link pending
0001493152-23-030240-index.html Edgar Link pending
0001493152-23-030240.txt Edgar Link pending
0001493152-23-030240-xbrl.zip Edgar Link pending
efht-20230630.xsd Edgar Link pending
ex10-7.htm Edgar Link pending
ex31-1.htm Edgar Link pending
ex31-2.htm Edgar Link pending
ex32-1.htm Edgar Link pending
ex32-2.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
form10-q.htm Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
efht-20230630_cal.xml Edgar Link unprocessable
efht-20230630_pre.xml Edgar Link unprocessable
efht-20230630_def.xml Edgar Link unprocessable
efht-20230630_lab.xml Edgar Link unprocessable
form10-q_htm.xml Edgar Link completed