$IMAQ
International Media Acquisition Corp.

2023 Q3 Form 10-Q Financial Statement

#000165495423010580 Filed on August 11, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2023 Q1
Revenue $0.00 $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 $604.7K -$118.8K $363.9K
YoY Change -2.21% -120.77% -20.67%
Operating Profit -$604.7K $118.8K
YoY Change -2.21% -120.77%
Interest Expense $275.9K $250.0K $226.6K
YoY Change -31.03% -37.23% 58.77%
% of Operating Profit 210.51%
Other Income/Expense, Net -$1.990K $9.960K
YoY Change
Pretax Income -$330.9K $378.7K -$137.3K
YoY Change 51.48% -318.18% -56.54%
Income Tax $63.37K $56.10K $49.98K
% Of Pretax Income 14.81%
Net Earnings -$394.3K $322.6K -$187.3K
YoY Change 23.74% -257.63% -40.73%
Net Earnings / Revenue
Basic Earnings Per Share -$0.05 $0.04
Diluted Earnings Per Share -$0.05 $0.04 -$0.02
COMMON SHARES
Basic Shares Outstanding 8.520M shares 8.520M shares 8.520M
Diluted Shares Outstanding 8.481M shares 8.520M shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.060K $185.5K $300.00
YoY Change -91.25% 323.76% -99.72%
Cash & Equivalents $7.060K $185.5K $302.00
Short-Term Investments
Other Short-Term Assets $17.50K $35.00K $52.50K
YoY Change 17.61% -59.28% -72.68%
Inventory
Prepaid Expenses $17.50K $35.00K $52.50K
Receivables
Other Receivables
Total Short-Term Assets $24.56K $220.5K $52.80K
YoY Change -74.29% 69.97% -82.39%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $21.36M $21.38M $20.98M
YoY Change -1.02% -90.72% -90.88%
Other Assets
YoY Change
Total Long-Term Assets $21.36M $21.38M $20.98M
YoY Change -1.02% -90.72% -90.88%
TOTAL ASSETS
Total Short-Term Assets $24.56K $220.5K $52.80K
Total Long-Term Assets $21.36M $21.38M $20.98M
Total Assets $21.38M $21.61M $21.03M
YoY Change -1.34% -90.63% -90.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.552M $1.014M $1.193M
YoY Change 123.45% 89.33% 141.45%
Accrued Expenses $0.00 $0.00 $200.0K
YoY Change -100.0% -100.0%
Deferred Revenue
YoY Change
Short-Term Debt $2.966M $2.709M $2.126M
YoY Change 213.82% 508.79% 990.02%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.845M $3.987M $3.726M
YoY Change 153.54% 255.43% 440.78%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $8.066M $8.064M $8.074M
YoY Change -0.1% -0.52% -1.46%
Total Long-Term Liabilities $8.066M $8.064M $8.074M
YoY Change -0.1% -0.52% -1.46%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.845M $3.987M $3.726M
Total Long-Term Liabilities $8.066M $8.064M $8.074M
Total Liabilities $12.91M $12.05M $11.80M
YoY Change 29.3% 30.6% 32.84%
SHAREHOLDERS EQUITY
Retained Earnings -$11.55M -$10.88M -$11.05M
YoY Change 18.03% 16.7% 21.23%
Common Stock $655.00 $655.00 $655.00
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$11.55M -$10.88M $9.231M
YoY Change
Total Liabilities & Shareholders Equity $21.38M $21.61M $21.03M
YoY Change -1.34% -90.63% -90.87%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income -$394.3K $322.6K -$187.3K
YoY Change 23.74% -257.63% -40.73%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$49.40K -$242.3K -$1.198M
YoY Change -79.53% -22.81% 283.83%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $305.1K -$156.1K $210.1M
YoY Change -99.85%
Cash From Investing Activities $305.1K -$156.1K $210.1M
YoY Change -99.85%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -434.1K $583.6K -209.0M
YoY Change -99.79% 133.43% -107305.12%
NET CHANGE
Cash From Operating Activities -49.40K -$242.3K -1.198M
Cash From Investing Activities 305.1K -$156.1K 210.1M
Cash From Financing Activities -434.1K $583.6K -209.0M
Net Change In Cash -178.4K $185.2K -107.4K
YoY Change -215.95% -389.75% -8.24%
FREE CASH FLOW
Cash From Operating Activities -$49.40K -$242.3K -$1.198M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2023Q2 dei Entity Central Index Key
EntityCentralIndexKey
0001846235
CY2023Q2 dei Amendment Flag
AmendmentFlag
false
CY2023Q2 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--03-31
CY2023Q2 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
302 usd
CY2023Q2 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
CY2023Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2023Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2023Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2023Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2023Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
6546900 shares
CY2023Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
6546900 shares
CY2023Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
6546900 shares
CY2023Q1 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
1973118 shares
CY2021Q1 imaq Condition For Future Business Combination Number Of Businesses Minimum
ConditionForFutureBusinessCombinationNumberOfBusinessesMinimum
1 integer
CY2023Q2 imaq Redemption Limit Percentage Without Prior Consent
RedemptionLimitPercentageWithoutPriorConsent
20 pure
CY2023Q2 imaq Months To Complete Acquisition
MonthsToCompleteAcquisition
P15Y
CY2022Q3 imaq Months To Complete Acquisition
MonthsToCompleteAcquisition
P12M
CY2022Q3 imaq Number Of Times Combination Period Can Be Extended
NumberOfTimesCombinationPeriodCanBeExtended
2 integer
CY2023Q2 imaq Threshold Business Days For Redemption Of Public Shares
ThresholdBusinessDaysForRedemptionOfPublicShares
P10D
CY2022Q3 imaq Extension Period For Combination
ExtensionPeriodForCombination
P3M
CY2022Q3 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
23000000 shares
CY2021Q1 imaq Agreed To Pay Maximum Amount Subject To Successfully Completing Business Combination
AgreedToPayMaximumAmountSubjectToSuccessfullyCompletingBusinessCombination
400000 usd
imaq Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value Beginning
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValueBeginning
0 usd
CY2023Q2 dei Document Type
DocumentType
10-Q
CY2023Q2 dei Document Quarterly Report
DocumentQuarterlyReport
true
CY2023Q2 dei Document Period End Date
DocumentPeriodEndDate
2023-06-30
CY2023Q2 dei Document Transition Report
DocumentTransitionReport
false
CY2023Q2 dei Entity File Number
EntityFileNumber
001-40687
CY2023Q2 dei Entity Registrant Name
EntityRegistrantName
INTERNATIONAL MEDIA ACQUISITION CORP.
CY2023Q2 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
CY2023Q2 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
86-1627460
CY2023Q2 dei Entity Address Address Line1
EntityAddressAddressLine1
1604 US Highway 130
CY2023Q2 dei Entity Address City Or Town
EntityAddressCityOrTown
N Brunswick
CY2023Q2 dei Entity Address State Or Province
EntityAddressStateOrProvince
NJ
CY2023Q2 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
08902
CY2023Q2 dei City Area Code
CityAreaCode
212
CY2023Q2 dei Local Phone Number
LocalPhoneNumber
960‑3677
CY2023Q2 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2023Q2 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2023Q2 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2023Q2 dei Entity Small Business
EntitySmallBusiness
true
CY2023Q2 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
CY2023Q2 dei Entity Ex Transition Period
EntityExTransitionPeriod
false
CY2023Q2 dei Entity Shell Company
EntityShellCompany
true
CY2023Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
8520018 shares
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
185483 usd
CY2023Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
35000 usd
CY2023Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
52500 usd
CY2023Q2 us-gaap Assets Current
AssetsCurrent
220483 usd
CY2023Q1 us-gaap Assets Current
AssetsCurrent
52802 usd
CY2023Q2 us-gaap Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
21384554 usd
CY2023Q1 us-gaap Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
20978456 usd
CY2023Q2 us-gaap Assets
Assets
21605037 usd
CY2023Q1 us-gaap Assets
Assets
21031258 usd
CY2023Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
1014140 usd
CY2023Q1 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
1192707 usd
CY2023Q2 imaq Related Party Current Liabilities
RelatedPartyCurrentLiabilities
0 usd
CY2023Q1 imaq Related Party Current Liabilities
RelatedPartyCurrentLiabilities
200000 usd
CY2023Q2 imaq Related Party Promissory Note
RelatedPartyPromissoryNote
2709128 usd
CY2023Q1 imaq Related Party Promissory Note
RelatedPartyPromissoryNote
2125541 usd
CY2023Q2 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
263735 usd
CY2023Q1 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
207632 usd
CY2023Q2 us-gaap Liabilities Current
LiabilitiesCurrent
3987004 usd
CY2023Q1 us-gaap Liabilities Current
LiabilitiesCurrent
3725880 usd
CY2023Q2 imaq Deferred Offering Costs Noncurrent
DeferredOfferingCostsNoncurrent
8050000 usd
CY2023Q1 imaq Deferred Offering Costs Noncurrent
DeferredOfferingCostsNoncurrent
8050000 usd
CY2023Q2 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Fair Value Of Shares
SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares
13946 usd
CY2023Q1 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Fair Value Of Shares
SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares
23907 usd
CY2023Q2 us-gaap Liabilities
Liabilities
12050950 usd
CY2023Q1 us-gaap Liabilities
Liabilities
11799787 usd
CY2023Q2 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
1973118 shares
CY2023Q2 us-gaap Temporary Equity Redemption Price Per Share
TemporaryEquityRedemptionPricePerShare
10.36
CY2023Q1 us-gaap Temporary Equity Redemption Price Per Share
TemporaryEquityRedemptionPricePerShare
10.28
CY2023Q2 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
20433097 usd
CY2023Q1 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
20284026 usd
CY2023Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2023Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 usd
CY2023Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 usd
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2023Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
6546900 shares
CY2023Q2 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
1973118 shares
CY2023Q1 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
23000000 shares
CY2023Q2 us-gaap Common Stock Value
CommonStockValue
655 usd
CY2023Q1 us-gaap Common Stock Value
CommonStockValue
655 usd
CY2023Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
0 usd
CY2023Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
0 usd
CY2023Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-10879665 usd
CY2023Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-11053211 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
-10879010 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
-11052555 usd
CY2023Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
21605037 usd
CY2023Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
21031258 usd
CY2023Q2 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
81238 usd
CY2022Q2 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
571827 usd
CY2023Q2 us-gaap Liabilities Assumed1
LiabilitiesAssumed1
200000 usd
CY2022Q2 us-gaap Liabilities Assumed1
LiabilitiesAssumed1
0 usd
CY2023Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
118762 usd
CY2022Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-571827 usd
CY2023Q2 imaq Warrant Liability At Fair Value Changes In Fair Value
WarrantLiabilityAtFairValueChangesInFairValue
9961 usd
CY2022Q2 imaq Warrant Liability At Fair Value Changes In Fair Value
WarrantLiabilityAtFairValueChangesInFairValue
87659 usd
CY2023Q2 us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
249996 usd
CY2022Q2 us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
310587 usd
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
378719 usd
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-173581 usd
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
56103 usd
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
31090 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
322616 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-204671 usd
CY2023Q2 imaq Weighted Average Shares Outstanding Basic And Diluted
WeightedAverageSharesOutstandingBasicAndDiluted
8520018 shares
CY2022Q2 imaq Weighted Average Shares Outstanding Basic And Diluted
WeightedAverageSharesOutstandingBasicAndDiluted
29546900 shares
CY2023Q2 imaq Earning Per Share Basic And Diluted
EarningPerShareBasicAndDiluted
0.04
CY2022Q2 imaq Earning Per Share Basic And Diluted
EarningPerShareBasicAndDiluted
-0.01
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
-8552598 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-204671 usd
CY2022Q2 imaq Accretion Of Class A Ordinary Shares Subject To Redemption
AccretionOfClassAOrdinarySharesSubjectToRedemption
-340524 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
-9097793 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
-11052555 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
322616 usd
CY2023Q2 imaq Accretion Of Class A Ordinary Shares Subject To Redemption
AccretionOfClassAOrdinarySharesSubjectToRedemption
-149071 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
-10879010 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
322616 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-204671 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
0 usd
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
0 usd
CY2023Q2 imaq Offering Costs Incurred
OfferingCostsIncurred
0 usd
CY2022Q2 imaq Offering Costs Incurred
OfferingCostsIncurred
0 usd
CY2023Q2 us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
249996 usd
CY2022Q2 us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
310587 usd
CY2023Q2 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-9961 usd
CY2022Q2 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-87659 usd
CY2023Q2 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
17500 usd
CY2022Q2 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
106253 usd
CY2023Q2 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-378566 usd
CY2022Q2 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
101799 usd
CY2023Q2 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
56103 usd
CY2022Q2 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
80953 usd
CY2023Q2 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-242304 usd
CY2022Q2 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-313912 usd
CY2023Q2 imaq Payments For Investment Of Cash In Trust Account
PaymentsForInvestmentOfCashInTrustAccount
-257027 usd
CY2022Q2 imaq Payments For Investment Of Cash In Trust Account
PaymentsForInvestmentOfCashInTrustAccount
0 usd
CY2023Q2 imaq Proceeds From Trust Account To Pay Taxes
ProceedsFromTrustAccountToPayTaxes
100925 usd
CY2022Q2 imaq Proceeds From Trust Account To Pay Taxes
ProceedsFromTrustAccountToPayTaxes
0 usd
CY2023Q2 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-156102 usd
CY2022Q2 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
0 usd
CY2023Q2 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
583587 usd
CY2022Q2 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
250000 usd
CY2023Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
583587 usd
CY2022Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
250000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
185181 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-63912 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
302 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
107684 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
185483 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
43772 usd
CY2023Q2 imaq Accretion Of Public Shares To Redemption Value
AccretionOfPublicSharesToRedemptionValue
149071 usd
CY2022Q2 imaq Accretion Of Public Shares To Redemption Value
AccretionOfPublicSharesToRedemptionValue
340524 usd
CY2023Q2 imaq Deferred Underwriting Fee Payable
DeferredUnderwritingFeePayable
0 usd
CY2022Q2 imaq Deferred Underwriting Fee Payable
DeferredUnderwritingFeePayable
0 usd
CY2023Q2 imaq Repayment Of Promissory Note Through Issuance Of Private Units
RepaymentOfPromissoryNoteThroughIssuanceOfPrivateUnits
0 usd
CY2022Q2 imaq Repayment Of Promissory Note Through Issuance Of Private Units
RepaymentOfPromissoryNoteThroughIssuanceOfPrivateUnits
0 usd
CY2023Q2 imaq Offering Costs Paid In Exchange For Private Units
OfferingCostsPaidInExchangeForPrivateUnits
0 usd
CY2022Q2 imaq Offering Costs Paid In Exchange For Private Units
OfferingCostsPaidInExchangeForPrivateUnits
0 usd
CY2023Q2 imaq Deferred Offering Costs Included In Promissory Notes Related Party
DeferredOfferingCostsIncludedInPromissoryNotesRelatedParty
0 usd
CY2022Q2 imaq Deferred Offering Costs Included In Promissory Notes Related Party
DeferredOfferingCostsIncludedInPromissoryNotesRelatedParty
0 usd
CY2023Q2 imaq Offering Costs Paid By Sponsor In Exchange For Issuance Of Common Stock
OfferingCostsPaidBySponsorInExchangeForIssuanceOfCommonStock
0 usd
CY2022Q2 imaq Offering Costs Paid By Sponsor In Exchange For Issuance Of Common Stock
OfferingCostsPaidBySponsorInExchangeForIssuanceOfCommonStock
0 usd
imaq Payments For Investment Of Cash In Trust Account
PaymentsForInvestmentOfCashInTrustAccount
230000000 usd
CY2021Q3 imaq Condition For Future Business Combination Threshold Net Tangible Assets
ConditionForFutureBusinessCombinationThresholdNetTangibleAssets
5000001 usd
CY2023Q2 imaq Maximum Extended Months To Complete Acquisition
MaximumExtendedMonthsToCompleteAcquisition
P126D
CY2023Q2 imaq Percentage Obligation To Redeem Public Shares If Entity Does Not Complete Business Combination
PercentageObligationToRedeemPublicSharesIfEntityDoesNotCompleteBusinessCombination
1 pure
CY2022Q3 us-gaap Stock Redeemed Or Called During Period Shares
StockRedeemedOrCalledDuringPeriodShares
21026882 shares
CY2022Q3 us-gaap Temporary Equity Redemption Price Per Share
TemporaryEquityRedemptionPricePerShare
10.03
CY2022Q3 imaq Payments For Investment Of Cash In Trust Account
PaymentsForInvestmentOfCashInTrustAccount
350000 usd
CY2022Q4 imaq Payments For Investment Of Cash In Trust Account
PaymentsForInvestmentOfCashInTrustAccount
350000 usd
CY2023Q1 imaq Payments For Investment Of Cash In Trust Account
PaymentsForInvestmentOfCashInTrustAccount
385541 usd
CY2023Q2 imaq Payments For Investment Of Cash In Trust Account
PaymentsForInvestmentOfCashInTrustAccount
128513 usd
CY2023Q2 imaq Payments For Investment Of Cash In Trust Account
PaymentsForInvestmentOfCashInTrustAccount
128513 usd
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
185483 usd
CY2023Q2 us-gaap Use Of Estimates
UseOfEstimates
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 33.75pt; text-align:justify;">The preparation of financial statements in conformity with U.S. 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.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 33.75pt; text-align:justify;">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 from those estimates.</p>
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
322616 usd
CY2023Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
17847675 shares
CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.1481 pure
CY2022Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.179 pure
CY2023Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2023Q2 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.09 pure
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-204671 usd
CY2023Q2 imaq Basic And Diluted Weighted Average Shares Outstanding
BasicAndDilutedWeightedAverageSharesOutstanding
8520018 shares
CY2022Q2 imaq Basic And Diluted Weighted Average Shares Outstanding
BasicAndDilutedWeightedAverageSharesOutstanding
29546900 shares
CY2023Q2 imaq Basic And Diluted Net Loss Per Share Of Common Stock
BasicAndDilutedNetLossPerShareOfCommonStock
0.04
CY2022Q2 imaq Basic And Diluted Net Loss Per Share Of Common Stock
BasicAndDilutedNetLossPerShareOfCommonStock
-0.01
CY2023Q2 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 33.75pt; text-align:justify;">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 Coverage of $250,000. The Company has not experienced losses on this account and management believes the Company is not exposed to significant risks on such account.</p>
CY2023Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2023Q2 imaq Privateplacementand Area Disclosuretextblock
PrivateplacementandAreaDisclosuretextblock
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>NOTE 4. PRIVATE PLACEMENT</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 33.75pt; text-align:justify;">Simultaneously with the closing of the Initial Public Offering, the Sponsor purchased an aggregate of 714,400 Private Units at a price of $10.00 per Private Unit ($7,144,000 in the aggregate). Each Private Unit consists of one share of common stock (“Private Share”), one right (“Private Right”) and one warrant (“Private Warrant”). Each Private Right entitles the holder to receive one-twentieth of one share of common stock at the closing of a Business Combination (see Note 8). Each Private Warrant entitles the holder to purchase three-fourths of one share of common stock at an exercise price of $11.50 per whole share (see Note 7).</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 33.75pt; text-align:justify;">The proceeds from the Private Units was added to the proceeds from the Initial Public Offering to be held in the Trust Account. If the Company does not complete a Business Combination within the Combination Period, the proceeds of the sale of the Private Units will be used to fund the redemption of the Public Shares (subject to the requirements of applicable law) and the Private Units and all underlying securities will be worthless. There will be no redemption rights or liquidating distributions from the Trust Account with respect to the Private Rights and Private Warrants.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 33.75pt; text-align:justify;">Simultaneously with the closing of the exercise of the over-allotment option, the Company consummated the sale of an additional 82,500 Private Units at a price of $10.00 per Private Unit in a private placement to the Sponsor, generating gross proceeds of $825,000.</p>
CY2023Q2 imaq Underwriting Cash Discount Per Unit
UnderwritingCashDiscountPerUnit
0.20
CY2023Q2 imaq Underwriter Cash Discount
UnderwriterCashDiscount
4600000 usd
CY2023Q2 imaq Deferred Fee Per Unit
DeferredFeePerUnit
0.35
CY2023Q2 imaq Deferred Offering Costs Noncurrent
DeferredOfferingCostsNoncurrent
8050000 usd
CY2023Q2 imaq Period For Right Of First Refusal To Act As Book Running Manager After Date Of Consummation Of Business Combination
PeriodForRightOfFirstRefusalToActAsBookRunningManagerAfterDateOfConsummationOfBusinessCombination
P18D
CY2023Q2 imaq Percentage Of Economics For Future Public And Private Equity And Debt Offerings
PercentageOfEconomicsForFuturePublicAndPrivateEquityAndDebtOfferings
0.30 pure
CY2021Q1 imaq Agreed To Pay Uncomplete Business Combination Within Combination Period
AgreedToPayUncompleteBusinessCombinationWithinCombinationPeriod
40000 usd
CY2023Q2 us-gaap Assets Under Management Carrying Amount
AssetsUnderManagementCarryingAmount
40000 usd
CY2023Q2 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
40000 usd
CY2022Q1 imaq Percentage Of Fee Based On Target Introduced In Business Combination
PercentageOfFeeBasedOnTargetIntroducedInBusinessCombination
0.005 pure
CY2022Q1 imaq Reimbursement Of Out Of Pocket Expenses
ReimbursementOfOutOfPocketExpenses
25000 usd
CY2023Q2 imaq Period For Not To Transfer Assign Or Sell Any Shares Or Warrants After Completion Of Initial Business Combination
PeriodForNotToTransferAssignOrSellAnySharesOrWarrantsAfterCompletionOfInitialBusinessCombination
P30D
CY2023Q2 imaq Number Of Warrants Issued
NumberOfWarrantsIssued
23796900 shares
CY2023Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2023Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
6546900 shares
CY2023Q2 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
1973118 shares
CY2023Q2 imaq Class Of Warrant Or Right Number Of Rights In Multiples Required To Receive Shares
ClassOfWarrantOrRightNumberOfRightsInMultiplesRequiredToReceiveShares
20 shares
CY2023Q2 us-gaap Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
21384554 usd
CY2023Q2 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Fair Value Of Shares
SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares
13946 usd
imaq Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Initial Measurement
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityInitialMeasurement
414352 usd
imaq Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value Ending
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValueEnding
462202 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
-406419 usd
imaq Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value Ending
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValueEnding
55783 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
-31876 usd
imaq Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value Ending
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValueEnding
23907 usd
CY2023Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
-9961 usd
CY2023Q2 imaq Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value Ending
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValueEnding
13946 usd
CY2023Q2 imaq Warrant Liability At Fair Value Changes In Fair Value
WarrantLiabilityAtFairValueChangesInFairValue
9961 usd

Files In Submission

Name View Source Status
0001654954-23-010580-index-headers.html Edgar Link pending
0001654954-23-010580-index.html Edgar Link pending
0001654954-23-010580.txt Edgar Link pending
0001654954-23-010580-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
imaq-20230630.xsd 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
imaq-20230630_cal.xml Edgar Link unprocessable
imaq-20230630_def.xml Edgar Link unprocessable
imaq-20230630_lab.xml Edgar Link unprocessable
imaq-20230630_pre.xml Edgar Link unprocessable
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.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
tm_10q.htm Edgar Link pending
tm_ex311.htm Edgar Link pending
tm_ex312.htm Edgar Link pending
tm_ex321.htm Edgar Link pending
tm_ex322.htm Edgar Link pending
tm_10q_htm.xml Edgar Link completed
FilingSummary.xml Edgar Link unprocessable