$INSE
Inspired Entertainment, Inc.

2016 Q2 Form 10-Q Financial Statement

#000114420416115407 Filed on August 01, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2 2014 Q4
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue $4.737M
YoY Change
Gross Profit -$4.737M
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 $1.211M $1.895M $138.0K
YoY Change -36.11% 470115.38%
Operating Profit -$1.211M -$1.895M
YoY Change -36.11%
Interest Expense $30.00K $0.00
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$1.180M -$1.890M -$140.0K
YoY Change -37.57%
Income Tax
% Of Pretax Income
Net Earnings -$1.176M -$1.891M -$138.0K
YoY Change -37.78% 469036.97%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$388.2K -$705.2K -$63.93K
COMMON SHARES
Basic Shares Outstanding 10.00M shares 10.00M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q2 2015 Q2 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $200.0K $700.0K $1.100M
YoY Change -71.43%
Cash & Equivalents $200.0K $696.6K $1.123M
Short-Term Investments
Other Short-Term Assets $100.0K $100.0K $200.0K
YoY Change 0.0%
Inventory
Prepaid Expenses $129.8K $164.2K
Receivables
Other Receivables
Total Short-Term Assets $300.0K $826.4K $1.287M
YoY Change -63.7%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $80.00M $80.00M $80.00M
YoY Change 0.0%
Total Long-Term Assets $80.00M $80.02M $80.01M
YoY Change -0.03%
TOTAL ASSETS
Total Short-Term Assets $300.0K $826.4K $1.287M
Total Long-Term Assets $80.00M $80.02M $80.01M
Total Assets $80.30M $80.85M $81.30M
YoY Change -0.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.500M $1.700M $100.0K
YoY Change 105.88%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.000M $1.714M $85.79K
YoY Change 133.38%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.800M $2.800M $2.800M
YoY Change 0.0%
Total Long-Term Liabilities $2.800M $2.800M $2.800M
YoY Change 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.000M $1.714M $85.79K
Total Long-Term Liabilities $2.800M $2.800M $2.800M
Total Liabilities $6.800M $4.514M $2.886M
YoY Change 50.64%
SHAREHOLDERS EQUITY
Retained Earnings -$2.218M -$141.5K
YoY Change
Common Stock $287.00 $266.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $73.50M $5.000M $5.000M
YoY Change
Total Liabilities & Shareholders Equity $80.30M $80.85M $81.30M
YoY Change -0.68%

Cashflow Statement

Concept 2016 Q2 2015 Q2 2014 Q4
OPERATING ACTIVITIES
Net Income -$1.176M -$1.891M -$138.0K
YoY Change -37.78% 469036.97%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$350.0K -$420.0K -$140.0K
YoY Change -16.67%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $50.00K -$80.00M
YoY Change
Cash From Investing Activities $50.00K -$80.00M
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 0.000 0.000 81.21M
YoY Change
NET CHANGE
Cash From Operating Activities -350.0K -420.0K -140.0K
Cash From Investing Activities 50.00K -80.00M
Cash From Financing Activities 0.000 0.000 81.21M
Net Change In Cash -300.0K -420.0K 1.070M
YoY Change -28.57%
FREE CASH FLOW
Cash From Operating Activities -$350.0K -$420.0K -$140.0K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2016Q2 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
500000 USD
CY2015Q4 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
0 USD
CY2016Q2 us-gaap Operating Expenses
OperatingExpenses
1210738 USD
CY2015Q2 us-gaap Operating Expenses
OperatingExpenses
1894968 USD
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-1210738 USD
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-1894968 USD
CY2016Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
37147 USD
CY2015Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
4346 USD
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
-1176421 USD
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
-1890622 USD
CY2016Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
3040098 shares
CY2015Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
2677612 shares
CY2016Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.39
CY2015Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.71
CY2016Q2 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
-2830 USD
CY2015Q2 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
0 USD
us-gaap Net Income Loss
NetIncomeLoss
-1422781 USD
us-gaap Net Income Loss
NetIncomeLoss
-2076909 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-11976 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-900 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
892302 USD
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
0 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-39443 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-900 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1628283 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-426509 USD
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
109 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-426618 USD
CY2015Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
696600 USD
hdrau Payment Of Offering Costs And Operational Costs Pursuant To Related Party Advances
PaymentOfOfferingCostsAndOperationalCostsPursuantToRelatedPartyAdvances
44 USD
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
500000 USD
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
0 USD
hdrau Change In Value Of Common Stock Subject To Possible Redemption
ChangeInValueOfCommonStockSubjectToPossibleRedemption
2076910 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
500000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-109 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-1491969 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
58321 USD
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
3026265 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
2668349 shares
hdrau Change In Value Of Common Stock Subject To Possible Redemption
ChangeInValueOfCommonStockSubjectToPossibleRedemption
-1422781 USD
CY2014Q4 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
80000000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-586791 USD
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1123278 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
11126 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
7320 USD
hdrau Payment Of Offering Costs And Operational Costs Pursuant To Related Party Advances
PaymentOfOfferingCostsAndOperationalCostsPursuantToRelatedPartyAdvances
0 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-34365 USD
us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
0 USD
CY2014Q4 us-gaap Share Price
SharePrice
10.00
CY2014Q4 hdrau Cash Available For Fund Operations
CashAvailableForFundOperations
1326704 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
500000 USD
CY2016Q2 hdrau Minimum Fair Market Value Of Target Business As Percentage Of Assets Held In Trust
MinimumFairMarketValueOfTargetBusinessAsPercentageOfAssetsHeldInTrust
0.8 pure
CY2016Q2 us-gaap Share Price
SharePrice
10.00
hdrau Federal Depository Insurance Coverage
FederalDepositoryInsuranceCoverage
250000 USD
CY2014Q4 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
250000 USD
CY2016Q2 us-gaap Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
500000 USD
CY2016Q2 hdrau Underwriting Discount Percentage
UnderwritingDiscountPercentage
0.060 pure
CY2016Q2 hdrau Underwriting Discount Paid In Cash Percentage
UnderwritingDiscountPaidInCashPercentage
0.025 pure
us-gaap Payments For Underwriting Expense
PaymentsForUnderwritingExpense
2000000 USD
CY2014Q4 hdrau Underwriting Discount Differed Percentage
UnderwritingDiscountDifferedPercentage
0.035 pure
CY2014Q4 hdrau Underwriting Discount Differed Amount
UnderwritingDiscountDifferedAmount
2800000 USD
CY2016Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2016Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2016Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
29000000 shares
CY2016Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2016Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
3156561 shares
CY2016Q2 hdrau Common Stock Redemption Shares
CommonStockRedemptionShares
6843439 shares
CY2016Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2015Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2016Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
us-gaap Operating Income Loss
OperatingIncomeLoss
-2090057 USD
CY2015Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2015Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
29000000 shares
CY2016Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
3156561 shares
CY2015Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
3012432 shares
CY2015Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
3012432 shares
CY2015Q4 hdrau Common Stock Redemption Shares
CommonStockRedemptionShares
6987568 shares
us-gaap Operating Expenses
OperatingExpenses
1491969 USD
us-gaap Operating Expenses
OperatingExpenses
2090057 USD
us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
10867 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
13148 USD
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.47
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.78
hdrau Common Stock Subject To Redemption Shares
CommonStockSubjectToRedemptionShares
6843439 shares
hdrau Common Stock Subject To Redemption Shares
CommonStockSubjectToRedemptionShares
7131687 shares
us-gaap Use Of Estimates
UseOfEstimates
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><b><font style="FONT-SIZE: 10pt"><strong>Use of estimates</strong></font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"><strong> &#160;</strong></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt" align="justify"><font style="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.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt" align="justify"><font style="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 events. Accordingly, the actual results could differ significantly from those estimates.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><b><font style="FONT-SIZE: 10pt"><strong> Concentration of credit risk</strong></font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"><strong> &#160;</strong></font></div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">Financial instruments that potentially subject the Company to concentration of credit risk consist of cash accounts in a financial institution which, at times may exceed the Federal depository insurance coverage of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">250,000</font>. At June 30, 2016, the Company had not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
hdrau Liquidation Condition
LiquidationCondition
If the Company is unable to complete a Business Combination within 24 months from the closing of the Initial Public Offering (the Combination Period), the Company will (i) cease all operations except for the purposes of winding up its affairs; (ii) distribute the aggregate amount then on deposit in the Trust Account, including a portion of the interest earned thereon (net of any taxes payable, and less up to $50,000 of interest to pay dissolution expenses), pro rata to the Companys public stockholders by way of redemption of the Companys public shares (which redemption would completely extinguish such holders rights as stockholders, including the right to receive further liquidation distributions, if any); and (iii) as promptly as possible following such redemption, dissolve and liquidate the balance of the Companys net assets to its remaining stockholders, as part of the Companys plan of dissolution and liquidation.
us-gaap Proceeds From Decommissioning Fund
ProceedsFromDecommissioningFund
47348 USD
us-gaap Proceeds From Decommissioning Fund
ProceedsFromDecommissioningFund
0 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
47348 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
0 USD
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
800000 shares
us-gaap Loss Contingency Loss In Period
LossContingencyLossInPeriod
495000 USD
CY2016Q2 us-gaap Loss Contingency Range Of Possible Loss Portion Not Accrued
LossContingencyRangeOfPossibleLossPortionNotAccrued
256000 USD
CY2016Q2 us-gaap Loss Contingency Estimate Of Possible Loss
LossContingencyEstimateOfPossibleLoss
811000 USD
CY2016Q2 hdrau Transaction Fees
TransactionFees
60000 USD

Files In Submission

Name View Source Status
0001144204-16-115407-index-headers.html Edgar Link pending
0001144204-16-115407-index.html Edgar Link pending
0001144204-16-115407.txt Edgar Link pending
0001144204-16-115407-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
hdrau-20160630.xml Edgar Link completed
hdrau-20160630.xsd Edgar Link pending
hdrau-20160630_cal.xml Edgar Link unprocessable
hdrau-20160630_def.xml Edgar Link unprocessable
hdrau-20160630_lab.xml Edgar Link unprocessable
hdrau-20160630_pre.xml Edgar Link unprocessable
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
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
v444607_10q.htm Edgar Link pending
v444607_ex31-1.htm Edgar Link pending
v444607_ex31-2.htm Edgar Link pending
v444607_ex32-1.htm Edgar Link pending
v444607_ex32-2.htm Edgar Link pending
v444607_ex99-1.htm Edgar Link pending
v444607_ex99-2.htm Edgar Link pending
v444607_ex99-3.htm Edgar Link pending