$KLTO

2022 Q4 Form 10-Q Financial Statement

#000121390022072415 Filed on November 14, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $239.5K $179.7K
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $239.5K $179.7K
YoY Change
Operating Profit -$179.7K -$16.00
YoY Change 1123187.5%
Interest Expense $1.119M $312.2K
YoY Change
% of Operating Profit
Other Income/Expense, Net $0.00 $678.4K
YoY Change
Pretax Income $879.4K $810.9K
YoY Change
Income Tax $163.3K $79.75K
% Of Pretax Income 18.57% 9.84%
Net Earnings $716.1K $731.1K -$16.00
YoY Change -4569606.25%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share $0.05 $49.05K
COMMON SHARES
Basic Shares Outstanding 14.91M shares 14.91M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $341.0K $414.1K
YoY Change
Cash & Equivalents $341.0K $414.1K
Short-Term Investments
Other Short-Term Assets $99.20K $141.0K
YoY Change
Inventory
Prepaid Expenses $99.20K $141.0K
Receivables
Other Receivables
Total Short-Term Assets $440.2K $555.1K
YoY Change 8788.49%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $117.8M $116.6M
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $117.8M $116.6M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $440.2K $555.1K
Total Long-Term Assets $117.8M $116.6M
Total Assets $118.2M $117.2M
YoY Change 2387756.14%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $140.4K $60.00K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $506.2K $218.4K
YoY Change 5848.08%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $4.344M $4.344M
YoY Change
Total Long-Term Liabilities $4.344M $4.344M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $506.2K $218.4K
Total Long-Term Liabilities $4.344M $4.344M
Total Liabilities $4.929M $4.563M
YoY Change 57819.12%
SHAREHOLDERS EQUITY
Retained Earnings -$4.045M -$4.008M
YoY Change 113551.36%
Common Stock $340.00 $340.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$4.045M -$4.008M -$3.527K
YoY Change
Total Liabilities & Shareholders Equity $118.2M $117.2M
YoY Change 2387756.14%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income $716.1K $731.1K -$16.00
YoY Change -4569606.25%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$73.18K -$33.24K
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change
Cash From Investing Activities $0.00 $0.00
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
YoY Change
NET CHANGE
Cash From Operating Activities -73.18K -33.24K
Cash From Investing Activities 0.000 0.000
Cash From Financing Activities 0.000 0.000
Net Change In Cash -73.18K -33.24K
YoY Change
FREE CASH FLOW
Cash From Operating Activities -$73.18K -$33.24K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
us-gaap Franchisor Costs
FranchisorCosts
usd
us-gaap Investment Income Interest
InvestmentIncomeInterest
usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
usd
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2022-09-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2022
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-41340
dei Entity Registrant Name
EntityRegistrantName
Redwoods Acquisition Corp.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
86-2727441
dei Entity Address Address Line1
EntityAddressAddressLine1
1115 Broadway
dei Entity Address Address Line2
EntityAddressAddressLine2
12th Floor
dei Entity Address City Or Town
EntityAddressCityOrTown
New York
dei Entity Address State Or Province
EntityAddressStateOrProvince
NY
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
10010
dei City Area Code
CityAreaCode
(646)
dei Local Phone Number
LocalPhoneNumber
916-5315
dei Security12b Title
Security12bTitle
Common Stock
dei Trading Symbol
TradingSymbol
RWOD
dei Security Exchange Name
SecurityExchangeName
NASDAQ
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
dei Entity Ex Transition Period
EntityExTransitionPeriod
false
dei Entity Shell Company
EntityShellCompany
true
CY2022Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
14905000 shares
CY2022Q3 us-gaap Cash
Cash
414144 usd
CY2021Q4 us-gaap Cash
Cash
4952 usd
CY2022Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
140985 usd
CY2022Q3 us-gaap Assets Current
AssetsCurrent
555129 usd
CY2021Q4 us-gaap Assets Current
AssetsCurrent
4952 usd
CY2022Q3 us-gaap Assets Held In Trust
AssetsHeldInTrust
116608596 usd
CY2022Q3 us-gaap Taxes Payable Current
TaxesPayableCurrent
78600 usd
CY2022Q3 us-gaap Accrued Income Taxes
AccruedIncomeTaxes
79752 usd
CY2021Q4 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
8511 usd
CY2022Q3 us-gaap Liabilities Current
LiabilitiesCurrent
218352 usd
CY2022Q3 us-gaap Assets
Assets
117163725 usd
CY2021Q4 us-gaap Assets
Assets
4952 usd
CY2022Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
60000 usd
CY2021Q4 us-gaap Liabilities Current
LiabilitiesCurrent
8511 usd
CY2022Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
31800 usd
CY2022Q3 rwod Deferred Underwriting Fee Payables
DeferredUnderwritingFeePayables
4312500 usd
CY2022Q3 us-gaap Liabilities
Liabilities
4562652 usd
CY2021Q4 us-gaap Liabilities
Liabilities
8511 usd
CY2022Q3 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
11500000 shares
CY2021Q4 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
11500000 shares
CY2022Q3 us-gaap Temporary Equity Redemption Price Per Share
TemporaryEquityRedemptionPricePerShare
10.14
CY2021Q4 us-gaap Temporary Equity Redemption Price Per Share
TemporaryEquityRedemptionPricePerShare
10.14
CY2022Q3 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
116608596 usd
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000 shares
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000 shares
CY2022Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
3405000 shares
CY2022Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
3405000 shares
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
0 shares
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
0 shares
CY2022Q3 us-gaap Common Stock Value
CommonStockValue
340 usd
CY2022Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-4007863 usd
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-3559 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
-4007523 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
-3559 usd
CY2022Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
117163725 usd
CY2021Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
4952 usd
CY2022Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
140426 usd
CY2021Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
16 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
338650 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3527 usd
CY2022Q3 us-gaap Franchisor Costs
FranchisorCosts
39300 usd
us-gaap Franchisor Costs
FranchisorCosts
78825 usd
CY2022Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-179726 usd
CY2021Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-16 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-417475 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-3527 usd
CY2022Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
312199 usd
us-gaap Investment Income Interest
InvestmentIncomeInterest
458596 usd
CY2022Q3 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-678400 usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-555917 usd
CY2022Q3 us-gaap Income Loss Attributable To Parent
IncomeLossAttributableToParent
810873 usd
us-gaap Income Loss Attributable To Parent
IncomeLossAttributableToParent
597038 usd
us-gaap Income Loss Attributable To Parent
IncomeLossAttributableToParent
-3527 usd
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
79752 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
79752 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
731121 usd
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-16 usd
us-gaap Net Income Loss
NetIncomeLoss
517286 usd
us-gaap Net Income Loss
NetIncomeLoss
-3527 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
-3559 usd
CY2022Q2 rwod Stock Issued During Period Value Warrant Liabilities
StockIssuedDuringPeriodValueWarrantLiabilities
-587717 usd
CY2022Q2 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
96338934 usd
CY2022Q2 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
-462536 usd
CY2022Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
25000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-5010 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
16431 usd
CY2022Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
115000000 usd
CY2022Q2 us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
5300000 usd
CY2022Q2 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
100 usd
CY2022Q2 rwod Stock Issued During Period Value Underwriter Commissions
StockIssuedDuringPeriodValueUnderwriterCommissions
-7187500 usd
CY2022Q2 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
6901405 usd
CY2022Q2 us-gaap Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
26712471 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-208826 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
-4280048 usd
CY2022Q3 us-gaap Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
458596 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
731121 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
-4007523 usd
us-gaap Net Income Loss
NetIncomeLoss
-3511 usd
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
-3511 usd
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-16 usd
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
-3527 usd
us-gaap Net Income Loss
NetIncomeLoss
517286 usd
us-gaap Net Income Loss
NetIncomeLoss
-3527 usd
us-gaap Investment Income Interest
InvestmentIncomeInterest
458596 usd
us-gaap Increase Decrease In Derivative Liabilities
IncreaseDecreaseInDerivativeLiabilities
-555917 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
140985 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
60000 usd
us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
78600 usd
us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
79752 usd
us-gaap Increase Decrease In Property And Other Taxes Payable
IncreaseDecreaseInPropertyAndOtherTaxesPayable
3527 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-419860 usd
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
116150000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-116150000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
25000 usd
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
115000000 usd
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
5300000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
100 usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
200000 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
200000 usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
8511 usd
rwod Payment Of Underwriters Commissions
PaymentOfUnderwritersCommissions
2875000 usd
rwod Payment Of Deferred Offering Costs
PaymentOfDeferredOfferingCosts
462537 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
116979052 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
409192 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4952 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
414144 usd
rwod Initial Classification Of Common Stock Subject To Redemption
InitialClassificationOfCommonStockSubjectToRedemption
96338934 usd
us-gaap Payments For Repurchase Of Initial Public Offering
PaymentsForRepurchaseOfInitialPublicOffering
587717 usd
us-gaap Other Underwriting Expense
OtherUnderwritingExpense
4312500 usd
rwod Allocation Of Offering Costs To Common Stock Subject To Redemption
AllocationOfOfferingCostsToCommonStockSubjectToRedemption
6901405 usd
CY2022Q2 rwod Gross Proceeds
GrossProceeds
100000000 usd
CY2022Q2 rwod Total Gross Proceeds
TotalGrossProceeds
4775000 usd
rwod Additional Public Units
AdditionalPublicUnits
1500000 shares
CY2022Q2 rwod Purchased Public Units
PurchasedPublicUnits
1500000 shares
rwod Accretion Of Common Stock To Redemption Value
AccretionOfCommonStockToRedemptionValue
27171067 usd
CY2022Q2 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
10
CY2022Q2 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
10
CY2022Q2 rwod Gross Proceeds
GrossProceeds
15000000 usd
CY2022Q2 rwod Total Gross Proceeds
TotalGrossProceeds
525000 usd
CY2022Q3 us-gaap Business Acquisition Cost Of Acquired Entity Transaction Costs
BusinessAcquisitionCostOfAcquiredEntityTransactionCosts
8365339 usd
rwod Underwriting Fees
UnderwritingFees
2875000 usd
rwod Deferred Underwriting Fees
DeferredUnderwritingFees
4312500 usd
rwod Other Offering Costs
OtherOfferingCosts
1177839 usd
CY2022Q2 rwod Total Amount
TotalAmount
116150000 usd
CY2022Q2 us-gaap Debt Instrument Term
DebtInstrumentTerm
P185D
rwod Description Of Business Combination Percentage
DescriptionOfBusinessCombinationPercentage
Pursuant to Nasdaq listing rules, the Company’s initial Business Combination must occur with one or more target businesses having an aggregate fair market value equal to at least 80% of the value of the funds in the Trust account (excluding any deferred underwriting discounts and commissions and taxes payable on the income earned on the Trust Account), which the Company refers to as the 80% test, at the time of the execution of a definitive agreement for its initial Business Combination, although the Company may structure a Business Combination with one or more target businesses whose fair market value significantly exceeds 80% of the trust account balance. If the Company is no longer listed on Nasdaq, it will not be required to satisfy the 80% test. The Company will only complete a Business Combination if the post-transaction company owns or acquires 50% or more of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment company under the Investment Company Act.
CY2022Q3 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
10.1
us-gaap Debt Instrument Redemption Price Percentage
DebtInstrumentRedemptionPricePercentage
1 pure
CY2022Q3 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
10.1
CY2022Q3 us-gaap Cash Available For Distributions
CashAvailableForDistributions
414144 usd
CY2022Q3 rwod Working Capital Deficit
WorkingCapitalDeficit
336777 usd
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Use of Estimates</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In preparing these unaudited condensed financial statements in conformity with U.S. GAAP, the Company’s management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed financial statements and the reported expenses during the reporting period.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 unaudited 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. </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
us-gaap Dividends Cash
DividendsCash
414144 usd
CY2021 us-gaap Dividends Cash
DividendsCash
4952 usd
CY2022Q3 us-gaap Deferred Offering Costs
DeferredOfferingCosts
8365339 usd
CY2022Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0707 pure
CY2021Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.1336 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2022Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2021Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
731121 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
517286 usd
CY2022Q3 us-gaap Temporary Equity Other Changes
TemporaryEquityOtherChanges
-27171067 usd
us-gaap Temporary Equity Other Changes
TemporaryEquityOtherChanges
-27171067 usd
CY2022Q3 rwod Net Loss Including Accretion Of Common Stock To Redemption Value
NetLossIncludingAccretionOfCommonStockToRedemptionValue
26439946 usd
rwod Net Loss Including Accretion Of Common Stock To Redemption Value
NetLossIncludingAccretionOfCommonStockToRedemptionValue
26653781 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Concentration of Credit Risk</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial instruments that potentially subject the Company to concentration of credit risk consist of a cash account in a financial institution and money market funds held in the Trust Account. The Company has not experienced losses on this account and management believes the Company is not exposed to significant risks on such account. As of September 30, 2022 and December 31, 2021, approximately $116.6 million and $<span style="-sec-ix-hidden: hidden-fact-132">Nil</span>, respectively, was over the Federal Deposit Insurance Corporation (FDIC) limit.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p>
us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
116600000 usd
us-gaap Interest Income Securities Us Treasury
InterestIncomeSecuritiesUSTreasury
116608596 usd
CY2022Q3 us-gaap Assets Held In Trust Current
AssetsHeldInTrustCurrent
116608596 usd
CY2022Q3 us-gaap Other Additional Capital
OtherAdditionalCapital
1500000 usd
CY2022Q3 us-gaap Long Term Debt Term
LongTermDebtTerm
P5Y
us-gaap Partners Capital Account Units Sold In Public Offering
PartnersCapitalAccountUnitsSoldInPublicOffering
11500000 shares
rwod Gross Proceed
GrossProceed
115000000 usd
CY2022Q3 rwod Proceeds Allocated To Public Warrants
ProceedsAllocatedToPublicWarrants
-9917024 usd
CY2022Q3 rwod Proceeds Allocated To Public Rights
ProceedsAllocatedToPublicRights
-8744042 usd
CY2022Q3 rwod Offering Costs Of Public Shares
OfferingCostsOfPublicShares
-6901405 usd
rwod Accretion Of Carrying Value To Redemption Value
AccretionOfCarryingValueToRedemptionValue
27171067 usd
rwod Class A Common Stock Subject To Possible Redemption
ClassACommonStockSubjectToPossibleRedemption
116608596 usd
rwod Aggregate Private Units
AggregatePrivateUnits
477500 shares
CY2022Q3 rwod Sale Of Stock Price Per Shares
SaleOfStockPricePerShares
10
rwod Aggregate Purchase Price
AggregatePurchasePrice
4775000 usd
rwod Additional Aggregates Private Units
AdditionalAggregatesPrivateUnits
52500 shares
us-gaap Sale Leaseback Transaction Gross Proceeds Financing Activities
SaleLeasebackTransactionGrossProceedsFinancingActivities
525000 usd
rwod Initial Stockholders Description
InitialStockholdersDescription
The Initial Stockholders have agreed, subject to certain limited exceptions, not to transfer, assign or sell any of their Insider Shares until, with respect to 50% of the Insider Shares, the earlier of six months after the consummation of a Business Combination and the date on which the closing price of the common stock equals or exceeds $12.50 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading day period commencing after a Business Combination and, with respect to the remaining 50% of the Insider Shares, until the six months after the consummation of a Business Combination, or earlier, in either case, if, subsequent to a Business Combination, the Company completes a liquidation, merger, stock exchange or other similar transaction which results in all of the Company’s stockholders having the right to exchange their shares of common stock for cash, securities or other property.
CY2022Q3 us-gaap Interest Costs Incurred
InterestCostsIncurred
30000 usd
us-gaap Interest Costs Incurred
InterestCostsIncurred
60000 usd
rwod Accrued Expenses
AccruedExpenses
60000 usd
CY2021Q4 rwod Accrued Expenses
AccruedExpenses
0 usd
CY2022Q3 rwod Prospectus To Purchase
ProspectusToPurchase
1500000 shares
us-gaap Underwriting Expense Ratio
UnderwritingExpenseRatio
0.025 pure
rwod Generating Gross Proceeds
GeneratingGrossProceeds
2875000 usd
rwod Deferred Fee
DeferredFee
0.0375 pure
CY2022Q3 us-gaap Purchase Options Land
PurchaseOptionsLand
100 usd
rwod Unit Purchase Option
UnitPurchaseOption
345000 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
11.5
rwod Aggregate Exercise Price
AggregateExercisePrice
3967500 usd
us-gaap Line Of Credit Facility Expiration Period
LineOfCreditFacilityExpirationPeriod
P5Y
us-gaap Dividends Share Based Compensation Cash
DividendsShareBasedCompensationCash
100 usd
rwod Right Of First Refusal Description
RightOfFirstRefusalDescription
The Company has granted Chardan a right of first refusal, for a period of 18 months after the date of the consummation of a Business Combination, to act as a book-running manager or placement agent, with at least 30% of the economics, for any and all future public and private equity, equity linked and debt offerings of the Company or any of its successors or subsidiaries.
CY2022Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000 shares
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
3405000 shares
CY2022Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
3405000 shares
CY2022Q3 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
11500000 shares
rwod Market Price Percentage
MarketPricePercentage
1.15 pure
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
16.5
CY2022Q3 us-gaap Preferred Stock Redemption Price Per Share
PreferredStockRedemptionPricePerShare
16.5
rwod Market Valuein Percentage
MarketValueinPercentage
1.65 pure
CY2022Q3 rwod Price Per Warrant
PricePerWarrant
0.01
CY2022Q3 rwod Warrants Liability
WarrantsLiability
31800 usd
CY2022Q3 rwod Fair Value
FairValue
587717 usd
rwod Change In Fair Value
ChangeInFairValue
-555917 usd
CY2022Q3 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs
31800 usd
CY2022Q2 rwod Fair Value Of Private Warrants
FairValueOfPrivateWarrants
587717 usd
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
11.5
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
11.5
CY2022Q3 rwod Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Underlying Share Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsUnderlyingSharePrice
9.04
CY2022Q2 rwod Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Underlying Share Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsUnderlyingSharePrice
8.08
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.0232 pure
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.2562 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0406 pure
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0242 pure
CY2021Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
usd
CY2021Q3 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
usd
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
usd
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
usd
us-gaap Investment Income Interest
InvestmentIncomeInterest
usd
us-gaap Increase Decrease In Derivative Liabilities
IncreaseDecreaseInDerivativeLiabilities
usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
usd
us-gaap Increase Decrease In Property And Other Taxes Payable
IncreaseDecreaseInPropertyAndOtherTaxesPayable
usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
usd
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
usd
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
usd
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
usd
rwod Payment Of Underwriters Commissions
PaymentOfUnderwritersCommissions
usd
rwod Payment Of Deferred Offering Costs
PaymentOfDeferredOfferingCosts
usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
usd
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
usd
rwod Initial Classification Of Common Stock Subject To Redemption
InitialClassificationOfCommonStockSubjectToRedemption
usd
us-gaap Payments For Repurchase Of Initial Public Offering
PaymentsForRepurchaseOfInitialPublicOffering
usd
us-gaap Other Underwriting Expense
OtherUnderwritingExpense
usd
rwod Allocation Of Offering Costs To Common Stock Subject To Redemption
AllocationOfOfferingCostsToCommonStockSubjectToRedemption
usd
rwod Accretion Of Common Stock To Redemption Value
AccretionOfCommonStockToRedemptionValue
usd
CY2021Q4 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
usd
CY2022Q3 us-gaap Long Term Debt Term
LongTermDebtTerm
P5Y
CY2021Q4 rwod Warrants Liability
WarrantsLiability
usd
CY2021Q4 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs
usd
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Central Index Key
EntityCentralIndexKey
0001907223

Files In Submission

Name View Source Status
0001213900-22-072415-index-headers.html Edgar Link pending
0001213900-22-072415-index.html Edgar Link pending
0001213900-22-072415.txt Edgar Link pending
0001213900-22-072415-xbrl.zip Edgar Link pending
f10q0922ex31-1_redwoodsacq.htm Edgar Link pending
f10q0922ex31-2_redwoodsacq.htm Edgar Link pending
f10q0922ex32-1_redwoodsacq.htm Edgar Link pending
f10q0922ex32-2_redwoodsacq.htm Edgar Link pending
f10q0922_redwoodsacq.htm Edgar Link pending
Financial_Report.xlsx 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
f10q0922_redwoodsacq_htm.xml Edgar Link completed
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
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
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.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
rwod-20220930.xsd Edgar Link pending
Show.js Edgar Link pending
rwod-20220930_def.xml Edgar Link unprocessable
rwod-20220930_lab.xml Edgar Link unprocessable
rwod-20220930_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
rwod-20220930_cal.xml Edgar Link unprocessable