$KNTK
Kinetik Holdings Inc.

2017 Q2 Form 10-Q Financial Statement

#000119312517256939 Filed on August 14, 2017

View on sec.gov

Income Statement

Concept 2017 Q2
Revenue $1.570M
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.100M
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $1.107M
YoY Change
Operating Profit -$1.107M
YoY Change
Interest Expense $500.0K
YoY Change
% of Operating Profit
Other Income/Expense, Net $544.0K
YoY Change
Pretax Income -$562.9K
YoY Change
Income Tax $170.3K
% Of Pretax Income
Net Earnings -$733.3K
YoY Change
Net Earnings / Revenue -46.71%
Basic Earnings Per Share -$0.05
Diluted Earnings Per Share -$0.05
COMMON SHARES
Basic Shares Outstanding 11.04M shares
Diluted Shares Outstanding 11.04M shares

Balance Sheet

Concept 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.000M
YoY Change
Cash & Equivalents $1.024M
Short-Term Investments
Other Short-Term Assets $200.0K
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $1.219M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $377.9M
YoY Change
Other Assets $0.00
YoY Change
Total Long-Term Assets $377.9M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $1.219M
Total Long-Term Assets $377.9M
Total Assets $379.1M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $932.0K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.147M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $13.20M
YoY Change
Total Long-Term Liabilities $13.20M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.147M
Total Long-Term Liabilities $13.20M
Total Liabilities $14.35M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$735.6K
YoY Change
Common Stock $5.735M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.000M
YoY Change
Total Liabilities & Shareholders Equity $379.1M
YoY Change

Cashflow Statement

Concept 2017 Q2
OPERATING ACTIVITIES
Net Income -$733.3K
YoY Change
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$300.0K
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$377.3M
YoY Change
Cash From Investing Activities -$377.3M
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 378.7M
YoY Change
NET CHANGE
Cash From Operating Activities -300.0K
Cash From Investing Activities -377.3M
Cash From Financing Activities 378.7M
Net Change In Cash 1.100M
YoY Change
FREE CASH FLOW
Cash From Operating Activities -$300.0K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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LiabilitiesCurrent
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CY2017Q2 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
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932000
CY2017Q2 us-gaap Assets Current
AssetsCurrent
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CY2017Q2 us-gaap Assets
Assets
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CY2017Q2 us-gaap Deferred Offering Costs
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Liabilities
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CY2017Q2 us-gaap Liabilities And Stockholders Equity
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CY2017Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2017Q2 us-gaap Deferred Tax Assets Net
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CY2017Q2 us-gaap Deferred Compensation Liability Current
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13206239
CY2017Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
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CY2017Q2 us-gaap Preferred Stock Shares Authorized
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CY2017Q2 us-gaap Preferred Stock Value
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CY2017Q2 us-gaap Prepaid Expense And Other Assets Current
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194104
CY2017Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-735646
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
5000002
CY2017Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2017Q2 kaac Accrued Formation And Offering Costs Current
AccruedFormationAndOfferingCostsCurrent
2000
CY2017Q2 kaac Redemption Limitation Minimum Net Tangible Assets
RedemptionLimitationMinimumNetTangibleAssets
5000001
CY2017Q2 kaac Accrued Franchise Taxes Current
AccruedFranchiseTaxesCurrent
43000
CY2016Q4 us-gaap Assets Current
AssetsCurrent
7500
CY2016Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
23994
CY2016Q4 us-gaap Assets
Assets
45734
CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2016Q4 us-gaap Deferred Offering Costs
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CY2016Q4 us-gaap Liabilities
Liabilities
23110
CY2016Q4 us-gaap Liabilities And Stockholders Equity
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45734
CY2016Q4 us-gaap Liabilities Current
LiabilitiesCurrent
23110
CY2016Q4 us-gaap Notes Payable Related Parties Classified Current
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20000
CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
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CY2016Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
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CY2016Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2016Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
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CY2016Q4 us-gaap Preferred Stock Shares Outstanding
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RetainedEarningsAccumulatedDeficit
-2376
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22624
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AccruedFormationAndOfferingCostsCurrent
3110
dei Amendment Flag
AmendmentFlag
false
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 2%; MARGIN-TOP: 18pt"> <b><i>Concentration of Credit Risk</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution, which, at times, may exceed the Federal Depository Insurance Coverage of $250,000. The Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts.</p> </div>
us-gaap Common Stock Voting Rights
CommonStockVotingRights
Holders of the Company's common stock are entitled to one vote for each share of common stock.
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
1016931
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
170349
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1063946
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.07
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.30 pure
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2017
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2017-06-30
dei Entity Registrant Name
EntityRegistrantName
Kayne Anderson Acquisition Corp
dei Entity Central Index Key
EntityCentralIndexKey
0001692787
us-gaap Expense Related To Distribution Or Servicing And Underwriting Fees
ExpenseRelatedToDistributionOrServicingAndUnderwritingFees
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dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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-562921
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
170349
us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
1144239
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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194104
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-327160
us-gaap Operating Expenses
OperatingExpenses
1106946
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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378665211
us-gaap Net Income Loss
NetIncomeLoss
-733270
us-gaap Operating Income Loss
OperatingIncomeLoss
-1106946
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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us-gaap Payment Of Financing And Stock Issuance Costs
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us-gaap Payments Of Stock Issuance Costs
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us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
245000
us-gaap Proceeds From Issuance Of Private Placement
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9546422
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
377321120
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
265000
us-gaap Revenues
Revenues
0
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
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dei Trading Symbol
TradingSymbol
KAAC
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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us-gaap Use Of Estimates
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 2%; MARGIN-TOP: 18pt"> <b><i>Use of Estimates</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The preparation of financial statements in conformity with GAAP requires the Company&#x2019;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 revenues and expenses during the reporting period. Actual results could differ from those estimates.</p> </div>
kaac Franchise Tax Expense
FranchiseTaxExpense
43000
kaac Cash Deposited In Trust Account
CashDepositedInTrustAccount
377321120
kaac Noncash Offering Costs Included In Accrued Formation And Offering Costs
NoncashOfferingCostsIncludedInAccruedFormationAndOfferingCosts
2000
kaac Deferred Underwriter Fee
DeferredUnderwriterFee
13206239
kaac Sale Of Private Placement Warrants
SaleOfPrivatePlacementWarrants
9546422
kaac Number Of Private Placement Warrants
NumberOfPrivatePlacementWarrants
6364281 shares
kaac Private Placement Warrants Price Per Share
PrivatePlacementWarrantsPricePerShare
1.5
kaac Shares Subject To Possible Redemption Amount
SharesSubjectToPossibleRedemptionAmount
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CY2017Q2 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
170349
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11042745 shares
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CY2017Q2 us-gaap Revenues
Revenues
0
CY2017Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2017Q2 kaac Franchise Tax Expense
FranchiseTaxExpense
43000

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