$IRAA
Iris Acquisition Corp

2023 Q1 Form 10-Q Financial Statement

#000141057823001335 Filed on May 22, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q1
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 $620.0K $580.0K
YoY Change 6.9% 48.72%
Operating Profit -$616.5K -$584.6K
YoY Change 5.45% 46.88%
Interest Expense $80.00K $10.00K
YoY Change 700.0%
% of Operating Profit
Other Income/Expense, Net -$24.94K $4.400M
YoY Change -100.57% -381.1%
Pretax Income -$641.4K $3.816M
YoY Change -116.81% -294.68%
Income Tax $7.286K
% Of Pretax Income
Net Earnings -$648.7K $3.816M
YoY Change -117.0% -294.34%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$0.08 $0.11
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00 $300.0K
YoY Change -100.0% -70.0%
Cash & Equivalents $45.34K $272.7K
Short-Term Investments
Other Short-Term Assets $0.00 $0.00
YoY Change -100.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $198.1K $318.6K
YoY Change -37.83% -77.87%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $14.50M $276.0M
YoY Change -94.75% 0.0%
Other Assets
YoY Change
Total Long-Term Assets $14.52M $276.0M
YoY Change -94.74% 0.01%
TOTAL ASSETS
Total Short-Term Assets $198.1K $318.6K
Total Long-Term Assets $14.52M $276.0M
Total Assets $14.72M $276.3M
YoY Change -94.67% -0.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.800M $1.500M
YoY Change 20.0% 650.0%
Accrued Expenses $100.0K $300.0K
YoY Change -66.67% 200.0%
Deferred Revenue
YoY Change
Short-Term Debt $1.100M $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.669M $1.862M
YoY Change 97.09% 611.32%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $10.70M $15.80M
YoY Change -32.28% -44.76%
Total Long-Term Liabilities $10.70M $15.80M
YoY Change -32.28% -44.76%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.669M $1.862M
Total Long-Term Liabilities $10.70M $15.80M
Total Liabilities $14.38M $17.66M
YoY Change -18.55% -38.55%
SHAREHOLDERS EQUITY
Retained Earnings -$14.32M -$17.32M
YoY Change -17.28% -36.95%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$14.18M -$17.32M
YoY Change
Total Liabilities & Shareholders Equity $14.72M $276.3M
YoY Change -94.67% -0.4%

Cashflow Statement

Concept 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$648.7K $3.816M
YoY Change -117.0% -294.34%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$727.6K -$63.56K
YoY Change 1044.76% -88.49%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $690.0K $0.00
YoY Change -100.0%
Cash From Investing Activities $688.6K $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -196.3K 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -727.6K -63.56K
Cash From Investing Activities 688.6K 0.000
Cash From Financing Activities -196.3K 0.000
Net Change In Cash -235.3K -63.56K
YoY Change 270.23% -106.36%
FREE CASH FLOW
Cash From Operating Activities -$727.6K -$63.56K
Capital Expenditures
Free Cash Flow
YoY Change

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:0pt;margin:0pt 0pt 12pt 0pt;">The preparation of condensed 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 condensed financial statements and the reported amounts of revenues and expenses during the reporting periods. One of the more significant accounting estimates included in these financial statements is the determination of the fair value of the warrant liabilities. Actual results could differ from those estimates.</p>
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Files In Submission

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