2022 Q3 Form 10-Q Financial Statement

#000149315222032901 Filed on November 18, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2021 Q3
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $196.3K $5.720K
YoY Change 3331.99%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $196.3K $12.03K
YoY Change 1531.82%
Operating Profit -$196.3K -$5.724K
YoY Change 3329.56%
Interest Expense $355.6K
YoY Change
% of Operating Profit
Other Income/Expense, Net $355.6K
YoY Change
Pretax Income $159.3K -$12.03K
YoY Change -1424.02%
Income Tax
% Of Pretax Income
Net Earnings $159.3K -$12.03K
YoY Change -1424.06%
Net Earnings / Revenue
Basic Earnings Per Share $0.02 $0.00
Diluted Earnings Per Share $15.70K -$1.233K
COMMON SHARES
Basic Shares Outstanding 10.15M shares 1.875M shares
Diluted Shares Outstanding 10.15M shares

Balance Sheet

Concept 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $341.4K $56.96K
YoY Change 499.4%
Cash & Equivalents $341.4K $56.96K
Short-Term Investments
Other Short-Term Assets $95.87K $2.980K
YoY Change 3117.11%
Inventory
Prepaid Expenses $95.87K
Receivables
Other Receivables
Total Short-Term Assets $437.3K $59.95K
YoY Change 629.41%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $79.25M
YoY Change
Other Assets $13.98K $251.8K
YoY Change -94.45%
Total Long-Term Assets $79.26M $251.8K
YoY Change 31382.73%
TOTAL ASSETS
Total Short-Term Assets $437.3K $59.95K
Total Long-Term Assets $79.26M $251.8K
Total Assets $79.70M $311.7K
YoY Change 25468.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $65.37K
YoY Change
Accrued Expenses $15.00K $15.00K
YoY Change 0.0%
Deferred Revenue
YoY Change
Short-Term Debt $70.00K $70.00K
YoY Change 0.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $150.4K $298.8K
YoY Change -49.67%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.730M
YoY Change
Total Long-Term Liabilities $2.730M $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $150.4K $298.8K
Total Long-Term Liabilities $2.730M $0.00
Total Liabilities $2.880M $298.8K
YoY Change 864.14%
SHAREHOLDERS EQUITY
Retained Earnings -$2.429M
YoY Change
Common Stock $235.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$2.429M $12.97K
YoY Change
Total Liabilities & Shareholders Equity $79.70M $311.7K
YoY Change 25468.25%

Cashflow Statement

Concept 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income $159.3K -$12.03K
YoY Change -1424.06%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$141.5K -$5.720K
YoY Change 2374.62%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
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 62.69K
YoY Change
NET CHANGE
Cash From Operating Activities -$141.5K -5.720K
Cash From Investing Activities
Cash From Financing Activities 62.69K
Net Change In Cash -$141.5K 56.97K
YoY Change -348.46%
FREE CASH FLOW
Cash From Operating Activities -$141.5K -$5.720K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<p id="xdx_84D_eus-gaap--UseOfEstimates_zIoThAwS8HKg" 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><i><span id="xdx_864_zmZXJSEmX4xl">Use of Estimates</span></i></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 condensed financial statements in conformity with US 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 condensed financial statements and the reported amounts of 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 condensed 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>
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TemporaryEquityCarryingAmount
78894512 usd
CY2022Q3 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2022Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2022Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 usd
CY2022Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0 usd
CY2022Q3 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_845_eus-gaap--ConcentrationRiskCreditRisk_zXIGMeXZONi3" 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><i><span id="xdx_86A_zPayi68xLLNg">Concentration of Credit Risk</span></i></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">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 $<span id="xdx_900_eus-gaap--CashFDICInsuredAmount_iI_c20220930_zjWbPZSHDLU3" title="Cash FDIC insured amount">250,000</span>. The Company has not experienced losses on this account. The Company has not experienced any losses on the Trust Account.</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"/></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"/> </p>
CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
341230 usd
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q3 KACL Shares Subject To Mandatory Redemption Settlement Terms Shares
SharesSubjectToMandatoryRedemptionSettlementTermsShares
7800000 shares
CY2022Q2 KACL Shares Subject To Mandatory Redemption Settlement Terms Shares
SharesSubjectToMandatoryRedemptionSettlementTermsShares
0 shares
CY2022Q3 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Description
SharesSubjectToMandatoryRedemptionSettlementTermsDescription
if, and only if, the reported last sale price of the ordinary shares equals or exceeds $16.50 per share (as adjusted for stock splits, stock dividends, reorganizations and recapitalizations), for any 20 trading days within a 30-trading day period commencing at any time after the warrants become exercisable and ending on the third business day prior to the notice of redemption to warrant holders

Files In Submission

Name View Source Status
0001493152-22-032901-index-headers.html Edgar Link pending
0001493152-22-032901-index.html Edgar Link pending
0001493152-22-032901.txt Edgar Link pending
0001493152-22-032901-xbrl.zip Edgar Link pending
ex31-1.htm Edgar Link pending
ex31-2.htm Edgar Link pending
ex32-1.htm Edgar Link pending
ex32-2.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
form10-q.htm Edgar Link pending
kacl-20220930.xsd Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
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kacl-20220930_lab.xml Edgar Link unprocessable
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kacl-20220930_def.xml Edgar Link unprocessable
form10-q_htm.xml Edgar Link completed
kacl-20220930_pre.xml Edgar Link unprocessable