2022 Q4 Form 10-K Financial Statement
#000149315223009772 Filed on March 30, 2023
Income Statement
Concept | 2022 Q4 | 2022 |
---|---|---|
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 | $750.6K | $1.295M |
YoY Change | 152.12% | 318.59% |
Operating Profit | -$1.295M | |
YoY Change | ||
Interest Expense | $652.4K | $1.349M |
YoY Change | 48227.41% | 99796.3% |
% of Operating Profit | ||
Other Income/Expense, Net | -$90.00 | |
YoY Change | ||
Pretax Income | -$98.28K | $53.88K |
YoY Change | -66.84% | -117.5% |
Income Tax | $0.00 | |
% Of Pretax Income | 0.0% | |
Net Earnings | -$98.28K | $53.88K |
YoY Change | -66.84% | -117.5% |
Net Earnings / Revenue | ||
Basic Earnings Per Share | $0.02 | |
Diluted Earnings Per Share | -$0.03 | $0.02 |
COMMON SHARES | ||
Basic Shares Outstanding | 3.403M shares | |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2022 Q4 | 2022 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $47.79K | $47.79K |
YoY Change | -99.96% | -93.32% |
Cash & Equivalents | $47.79K | |
Short-Term Investments | ||
Other Short-Term Assets | $143.1K | $143.1K |
YoY Change | 1804.93% | 1804.93% |
Inventory | ||
Prepaid Expenses | $143.1K | |
Receivables | ||
Other Receivables | ||
Total Short-Term Assets | $361.4K | $361.4K |
YoY Change | -50.02% | -50.02% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | ||
YoY Change | ||
Goodwill | ||
YoY Change | ||
Intangibles | ||
YoY Change | ||
Long-Term Investments | $19.54M | $19.54M |
YoY Change | -83.26% | -83.26% |
Other Assets | ||
YoY Change | ||
Total Long-Term Assets | $19.54M | $19.54M |
YoY Change | -83.26% | -83.26% |
TOTAL ASSETS | ||
Total Short-Term Assets | $361.4K | $361.4K |
Total Long-Term Assets | $19.54M | $19.54M |
Total Assets | $19.90M | $19.90M |
YoY Change | -83.06% | -83.06% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | ||
YoY Change | ||
Accrued Expenses | $686.2K | $686.2K |
YoY Change | 1464.12% | 1464.17% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $259.1K | $259.1K |
YoY Change | 192.68% | 192.68% |
Long-Term Debt Due | ||
YoY Change | ||
Total Short-Term Liabilities | $1.085M | $1.085M |
YoY Change | 612.1% | 612.11% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Other Long-Term Liabilities | $4.025M | $4.025M |
YoY Change | 0.0% | 0.0% |
Total Long-Term Liabilities | $4.025M | $4.025M |
YoY Change | 0.0% | 0.0% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $1.085M | $1.085M |
Total Long-Term Liabilities | $4.025M | $4.025M |
Total Liabilities | $5.110M | $5.110M |
YoY Change | 22.33% | 22.33% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$4.920M | |
YoY Change | 42.47% | |
Common Stock | ||
YoY Change | ||
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | -$4.919M | $14.79M |
YoY Change | ||
Total Liabilities & Shareholders Equity | $19.90M | $19.90M |
YoY Change | -83.06% | -83.06% |
Cashflow Statement
Concept | 2022 Q4 | 2022 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | -$98.28K | $53.88K |
YoY Change | -66.84% | -117.5% |
Depreciation, Depletion And Amortization | ||
YoY Change | ||
Cash From Operating Activities | -$3.650K | -$667.9K |
YoY Change | -98.49% | 176.75% |
INVESTING ACTIVITIES | ||
Capital Expenditures | ||
YoY Change | ||
Acquisitions | ||
YoY Change | ||
Other Investing Activities | $0.00 | $0.00 |
YoY Change | -100.0% | -100.0% |
Cash From Investing Activities | $0.00 | |
YoY Change | -100.0% | |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | $116.7M | $0.00 |
YoY Change | -100.0% | |
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | 0.000 | |
YoY Change | -100.0% | |
NET CHANGE | ||
Cash From Operating Activities | -3.650K | -$667.9K |
Cash From Investing Activities | 0.000 | |
Cash From Financing Activities | 0.000 | |
Net Change In Cash | -3.650K | -$667.9K |
YoY Change | -100.51% | -193.32% |
FREE CASH FLOW | ||
Cash From Operating Activities | -$3.650K | -$667.9K |
Capital Expenditures | ||
Free Cash Flow | ||
YoY Change |
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47789 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
715727 | usd |
CY2022 | ENCP |
Deferred Underwriting Fee Payable
DeferredUnderwritingFeePayable
|
4025000 | usd |
ENCP |
Deferred Underwriting Fee Payable
DeferredUnderwritingFeePayable
|
4025000 | usd | |
CY2022 | ENCP |
Value Of Class Ordinary Shares Subject To Redemption
ValueOfClassOrdinarySharesSubjectToRedemption
|
19535946 | usd |
ENCP |
Value Of Class Ordinary Shares Subject To Redemption
ValueOfClassOrdinarySharesSubjectToRedemption
|
116725000 | usd | |
CY2022 | ENCP |
Extension Loan Receivable
ExtensionLoanReceivable
|
170594 | usd |
CY2021Q4 | us-gaap |
Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
|
116725000 | usd |
CY2022Q4 | us-gaap |
Cash
Cash
|
47789 | usd |
CY2022Q4 | ENCP |
Working Capital
WorkingCapital
|
723893 | usd |
CY2022Q4 | ENCP |
Percentage Of Minimum Fair Market Value Of Net Asset Held In Trust Account
PercentageOfMinimumFairMarketValueOfNetAssetHeldInTrustAccount
|
0.80 | pure |
CY2022Q4 | ENCP |
Minimum Post Business Combination Ownership
MinimumPostBusinessCombinationOwnership
|
0.50 | pure |
CY2022Q4 | ENCP |
Redeeming Shares More Than Aggregate Percentage
RedeemingSharesMoreThanAggregatePercentage
|
0.20 | pure |
CY2022Q4 | ENCP |
Redemptions In Connection With Business Combination To Redeem Percentage
RedemptionsInConnectionWithBusinessCombinationToRedeemPercentage
|
1 | pure |
CY2022Q4 | us-gaap |
Shares Issued Price Per Share
SharesIssuedPricePerShare
|
10.00 | |
CY2022Q4 | us-gaap |
Cash
Cash
|
47789 | usd |
CY2022 | us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
25000 | usd |
CY2022 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_84A_eus-gaap--UseOfEstimates_z8OwZjyyeOPi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86F_zTgwjmcYUKm6">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of 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 and the reported amounts of revenues and expenses during the reporting period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2022Q4 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
0 | usd |
CY2022Q4 | us-gaap |
Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
|
111444250 | usd |
CY2022Q4 | us-gaap |
Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
|
5280750 | usd |
CY2021Q3 | us-gaap |
Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
|
2862500 | shares |
CY2022Q4 | us-gaap |
Assets Held In Trust
AssetsHeldInTrust
|
116726349 | usd |
CY2022 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p id="xdx_84D_eus-gaap--ConcentrationRiskCreditRisk_z94PyGULQYca" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b><span id="xdx_867_zxtKUQ05hUWe">Concentration of Credit Risk</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 15pt"><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 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">Financial instruments that potentially subject the Company to concentration of credit risk consist of a cash account in a financial institution which, at times may exceed the Federal depository insurance coverage of $<span id="xdx_902_eus-gaap--CashFDICInsuredAmount_iI_pp0p0_c20221231_zQd7111p4rm5" title="Federal depository insurance coverage amount">250,000</span>. On December 31, 2022, the Company had not experienced losses on this account and management believes the Company is not exposed to significant risks on such account.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 35.4pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2022Q4 | us-gaap |
Cash Fdic Insured Amount
CashFDICInsuredAmount
|
250000 | usd |
CY2022Q4 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
116725000 | usd |
CY2022 | us-gaap |
Related Party Transaction Description Of Transaction
RelatedPartyTransactionDescriptionOfTransaction
|
The initial shareholders have agreed not to transfer, assign or sell any of the Class B ordinary shares (except to certain permitted transferees) until, with respect to 50% of the Class B ordinary shares, the earlier of (i) six months after the date of the consummation of a Business Combination, or (ii) the date on which the closing price of the Company’s ordinary shares equals or exceeds $12.00 per share (as adjusted for share splits, share dividends, reorganizations and recapitalizations) for any 20 trading days within any 30-trading day period commencing after a Business Combination, with respect to the remaining 50% of the Class B ordinary shares, upon six months after the date of the consummation of a Business Combination, or earlier, in each case, if, subsequent to a Business Combination, the Company consummates a subsequent liquidation, merger, share exchange or other similar transaction which results in all of the Company’s shareholders having the right to exchange their ordinary shares for cash, securities or other property. | |
CY2022Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | shares |
CY2021Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | shares |
CY2022Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2021Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2022Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2021Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2022Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2021Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2022 | ENCP |
Share Adjustment Description
ShareAdjustmentDescription
|
the Company issues additional shares of Class A ordinary shares or equity-linked securities for capital raising purposes in connection with the closing of our initial Business Combination at an issue price or effective issue price of less than $9.20 per share of Class A ordinary shares (with such issue price or effective issue price to be determined in good faith by our board of directors and, in the case of any such issuance to our sponsor or its affiliates, without taking into account any founder shares held by our sponsor or such affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of our initial Business Combination on the date of the consummation of our initial Business Combination (net of redemptions), and (z) the volume weighted average trading price of our Class A ordinary shares during the 20 trading day period starting on the trading day prior to the day on which we consummate our initial Business Combination (such price, the “Market Value”) is below $9.20 per share, then the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the greater of the Market Value and the Newly Issued Price, and the $18.00 per share redemption trigger price described below under “Redemption of warrants” will be adjusted (to the nearest cent) to be equal to 180% of the greater of the Market Value and the Newly Issued Price. | |
CY2022Q4 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
11249740 | shares |
CY2022Q4 | ENCP |
Class Of Warrant Or Right Issued
ClassOfWarrantOrRightIssued
|
11249740 | shares |