$GLST
Global Star Acquisition Inc

2023 Q2 Form 10-Q Financial Statement

#000119312523222770 Filed on August 29, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2022 Q2
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $370.0K
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $370.0K $0.00
YoY Change
Operating Profit -$368.3K -$25.00
YoY Change 1472916.0%
Interest Expense $1.150M $0.00
YoY Change
% of Operating Profit
Other Income/Expense, Net $1.146M $2.00
YoY Change 57311850.0%
Pretax Income $778.0K $27.00
YoY Change 2881325.93%
Income Tax $230.2K $0.00
% Of Pretax Income 29.59% 0.0%
Net Earnings $547.8K $2.00
YoY Change 27388600.0%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share $0.05 $0.00
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $300.0K $210.0K
YoY Change 42.86%
Cash & Equivalents $302.0K $209.9K
Short-Term Investments
Other Short-Term Assets $190.0K $30.00K
YoY Change 533.33%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $496.3K $230.0K
YoY Change 115.79%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $97.10M
YoY Change
Other Assets $0.00 $260.0K
YoY Change -100.0%
Total Long-Term Assets $97.10M $260.0K
YoY Change 37247.49%
TOTAL ASSETS
Total Short-Term Assets $496.3K $230.0K
Total Long-Term Assets $97.10M $260.0K
Total Assets $97.60M $490.0K
YoY Change 19818.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $250.0K
YoY Change
Accrued Expenses $680.0K $170.0K
YoY Change 300.0%
Deferred Revenue
YoY Change
Short-Term Debt $20.00K $190.0K
YoY Change -89.47%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $947.0K $470.0K
YoY Change 101.49%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.220M
YoY Change
Total Long-Term Liabilities $3.220M $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $947.0K $470.0K
Total Long-Term Liabilities $3.220M $0.00
Total Liabilities $4.167M $470.0K
YoY Change 786.59%
SHAREHOLDERS EQUITY
Retained Earnings -$2.989M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$2.989M $2.385K
YoY Change
Total Liabilities & Shareholders Equity $97.60M $490.0K
YoY Change 19818.33%

Cashflow Statement

Concept 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income $547.8K $2.00
YoY Change 27388600.0%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$380.0K $80.00K
YoY Change -575.0%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $190.0K
YoY Change
Cash From Investing Activities $190.0K
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 -70.00K 100.0K
YoY Change -170.0%
NET CHANGE
Cash From Operating Activities -380.0K 80.00K
Cash From Investing Activities 190.0K
Cash From Financing Activities -70.00K 100.0K
Net Change In Cash -260.0K 180.0K
YoY Change -244.44%
FREE CASH FLOW
Cash From Operating Activities -$380.0K $80.00K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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dei Document Period End Date
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dei Document Transition Report
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dei Entity File Number
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dei Entity Registrant Name
EntityRegistrantName
GLOBAL STAR ACQUISITION INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
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dei Entity Address Address Line1
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1641 International Drive Unit 208
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<div style="margin-top: 18pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: justify;;text-indent: 0px;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">Concentration of Credit Risk </div></div></div> <div style="margin-top: 6pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: justify;;text-indent: 0px;">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 Depository Insurance Corporation coverage limit of $250,000. The Company has not experienced losses on these accounts. </div>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="margin-top: 18pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: justify;;text-indent: 0px;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">Reclassifications </div></div></div> <div style="margin-top: 6pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: justify;;text-indent: 0px;">Certain reclassifications have been made to the prior period’s Consolidated Financial Statements in order to conform to the current year presentation. Such reclassifications had no effect on previously reported net income. </div>
CY2022Q3 us-gaap Other Liabilities
OtherLiabilities
119720
glst Underwriting Discount Paid Per Unit
UnderwritingDiscountPaidPerUnit
0.2
us-gaap Payments For Underwriting Expense
PaymentsForUnderwritingExpense
1840000
glst Reimbursement Of Underwriting Expenses
ReimbursementOfUnderwritingExpenses
920000
glst Deferred Underwriting Commission Per Unit
DeferredUnderwritingCommissionPerUnit
0.35
CY2023Q2 glst Deferred Underwriting Commissions Noncurrent
DeferredUnderwritingCommissionsNoncurrent
3220000
CY2023Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
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 Outstanding
PreferredStockSharesOutstanding
0
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
500000
CY2023Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
1150000

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