2022 Q4 Form 10-K Financial Statement

#000149315223009772 Filed on March 30, 2023

View on sec.gov

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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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

Files In Submission

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encp-20221231_lab.xml Edgar Link unprocessable
encp-20221231_cal.xml Edgar Link unprocessable
encp-20221231_def.xml Edgar Link unprocessable
0001493152-23-009772-index-headers.html Edgar Link pending
0001493152-23-009772-index.html Edgar Link pending
0001493152-23-009772.txt Edgar Link pending
0001493152-23-009772-xbrl.zip Edgar Link pending
encp-20221231.xsd Edgar Link pending
ex31-1.htm Edgar Link pending
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ex32-1.htm Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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