2023 Q4 Form 10-Q Financial Statement
#000121390023086916 Filed on November 14, 2023
Income Statement
Concept | 2023 Q4 | 2023 Q3 | 2022 Q4 |
---|---|---|---|
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 | $168.1K | $305.7K | |
YoY Change | |||
Operating Profit | |||
YoY Change | |||
Interest Expense | $1.933M | $20.00 | |
YoY Change | |||
% of Operating Profit | |||
Other Income/Expense, Net | $19.00 | ||
YoY Change | 850.0% | ||
Pretax Income | $1.765M | -$305.7K | |
YoY Change | |||
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | $1.765M | -$305.7K | |
YoY Change | 140124.31% | ||
Net Earnings / Revenue | |||
Basic Earnings Per Share | |||
Diluted Earnings Per Share | $0.09 | -$0.02 | |
COMMON SHARES | |||
Basic Shares Outstanding | 19.37M shares | 19.37M shares | |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2023 Q4 | 2023 Q3 | 2022 Q4 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $631.8K | $735.4K | |
YoY Change | |||
Cash & Equivalents | $631.8K | $735.4K | $77.71K |
Short-Term Investments | |||
Other Short-Term Assets | $233.9K | $314.3K | |
YoY Change | |||
Inventory | |||
Prepaid Expenses | $233.9K | $314.3K | $2.598K |
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $865.6K | $1.050M | $80.31K |
YoY Change | 977.89% | ||
LONG-TERM ASSETS | |||
Property, Plant & Equipment | |||
YoY Change | |||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | $154.8M | $152.8M | |
YoY Change | |||
Other Assets | $0.00 | ||
YoY Change | |||
Total Long-Term Assets | $154.8M | $152.8M | $114.5K |
YoY Change | 135116.86% | ||
TOTAL ASSETS | |||
Total Short-Term Assets | $865.6K | $1.050M | $80.31K |
Total Long-Term Assets | $154.8M | $152.8M | $114.5K |
Total Assets | $155.7M | $153.8M | $194.8K |
YoY Change | 79819.58% | ||
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | |||
YoY Change | |||
Accrued Expenses | $4.000K | ||
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 | $14.00K | $30.00K | $173.6K |
YoY Change | -91.93% | ||
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | |
YoY Change | |||
Other Long-Term Liabilities | $2.990M | $2.990M | |
YoY Change | |||
Total Long-Term Liabilities | $2.990M | $2.990M | |
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $14.00K | $30.00K | $173.6K |
Total Long-Term Liabilities | $2.990M | $2.990M | |
Total Liabilities | $3.004M | $3.020M | $173.6K |
YoY Change | 1630.68% | ||
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$3.660M | -$3.367M | -$3.766K |
YoY Change | 97085.29% | ||
Common Stock | $442.00 | $442.00 | $374.00 |
YoY Change | 18.18% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $152.7M | -$1.970M | $21.23K |
YoY Change | |||
Total Liabilities & Shareholders Equity | $155.7M | $153.8M | $194.8K |
YoY Change | 79819.58% |
Cashflow Statement
Concept | 2023 Q4 | 2023 Q3 | 2022 Q4 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $1.765M | -$305.7K | |
YoY Change | 140124.31% | ||
Depreciation, Depletion And Amortization | |||
YoY Change | |||
Cash From Operating Activities | -$83.66K | -$619.5K | |
YoY Change | |||
INVESTING ACTIVITIES | |||
Capital Expenditures | |||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | -$151.4M | |
YoY Change | |||
Cash From Investing Activities | $0.00 | -$151.4M | |
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 | -20.00K | 152.7M | |
YoY Change | |||
NET CHANGE | |||
Cash From Operating Activities | -83.66K | -619.5K | |
Cash From Investing Activities | 0.000 | -151.4M | |
Cash From Financing Activities | -20.00K | 152.7M | |
Net Change In Cash | -103.7K | 152.1M | |
YoY Change | |||
FREE CASH FLOW | |||
Cash From Operating Activities | -$83.66K | -$619.5K | |
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
Facts In Submission
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2023-09-30 | ||
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Allocation Of Offering Costs To Common Stock Subject To Possible Redemption
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Accretion Of Carrying Value To Redemption Value
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Public Warrant Description
PublicWarrantDescription
|
Each Public Unit consists of one ordinary share and one redeemable warrant (“Public Warrant”) to purchase one ordinary share at an exercise price of $11.50 per share. | ||
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Private Warrant Description
PrivateWarrantDescription
|
Each Private Placement Unit consists of one ordinary share and one redeemable warrant (“Private Warrant”) to purchase one ordinary share at an exercise price of $11.50 per whole share. | ||
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Cash
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151368750 | usd |
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Public Price Unit
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|
10.125 | ||
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0.80 | pure |
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|
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Debt Instrument Redemption Price Percentage
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|
0.15 | pure | |
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Public Price Per Share
PublicPricePerShare
|
10.125 | ||
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Cash Reserve Deposit Required And Made
CashReserveDepositRequiredAndMade
|
1495000 | usd |
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Shares Issued Price Per Share
SharesIssuedPricePerShare
|
0.1 | |
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Outstanding Public Shares
OutstandingPublicShares
|
1 | pure | |
us-gaap |
Other Expenses
OtherExpenses
|
50000 | usd | |
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Working Capital Surplus
WorkingCapitalSurplus
|
1019687 | usd | |
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Net Income Loss
NetIncomeLoss
|
-310566 | usd | |
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Use Of Estimates
UseOfEstimates
|
<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Use of estimates</span></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of unaudited condensed financial statements in conformity with U.S. 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 statement.</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 financial statement, 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> | ||
CY2022Q3 | us-gaap |
Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
|
218 | usd |
CY2023Q3 | kvac |
Ordinary Share Subject To Possible Redemption
OrdinaryShareSubjectToPossibleRedemption
|
14950000 | shares |
CY2022Q4 | kvac |
Ordinary Share Subject To Possible Redemption
OrdinaryShareSubjectToPossibleRedemption
|
0 | shares |
CY2023Q3 | kvac |
Purchase Of Aggregate Shares
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|
15628575 | shares |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-310566 | usd | |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-393 | usd | |
kvac |
Accretion Of Carrying Value To Redemption Value
AccretionOfCarryingValueToRedemptionValue
|
11435082 | usd | |
us-gaap |
Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
|
11745648 | usd | |
us-gaap |
Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
|
393 | usd | |
CY2023Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-305689 | usd |
CY2022Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-218 | usd |
CY2023Q3 | kvac |
Accretion Of Carrying Value To Redemption Value
AccretionOfCarryingValueToRedemptionValue
|
11435082 | usd |
CY2023Q3 | us-gaap |
Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
|
11740771 | usd |
us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Concentration of credit risk</span></td> </tr></table><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. The Company has not experienced losses on this account and management believes the Company is not exposed to significant risks on such account.</p> | ||
us-gaap |
Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
|
14950000 | shares | |
CY2021Q3 | us-gaap |
Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
|
3737500 | shares |
CY2021Q3 | us-gaap |
Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
|
487500 | shares |
CY2021Q3 | srt |
Financing Receivable Allowance For Credit Loss To Outstanding Percent
FinancingReceivableAllowanceForCreditLossToOutstandingPercent
|
0.20 | pure |
CY2021Q3 | kvac |
Aggregate Purchase Price Amount
AggregatePurchasePriceAmount
|
25000 | usd |
us-gaap |
Sponsor Fees
SponsorFees
|
0 | usd | |
CY2022 | us-gaap |
Sponsor Fees
SponsorFees
|
173573 | usd |
us-gaap |
Affiliate Costs
AffiliateCosts
|
10000 | usd | |
us-gaap |
Investment Company Shareholder Service Fee Expense
InvestmentCompanyShareholderServiceFeeExpense
|
30000 | usd | |
CY2022 | us-gaap |
Investment Company Shareholder Service Fee Expense
InvestmentCompanyShareholderServiceFeeExpense
|
0 | usd |
CY2023Q3 | us-gaap |
Interest Costs Incurred
InterestCostsIncurred
|
30000 | usd |
CY2022Q3 | us-gaap |
Interest Costs Incurred
InterestCostsIncurred
|
0 | usd |
us-gaap |
Interest Costs Incurred
InterestCostsIncurred
|
30000 | usd | |
us-gaap |
Interest Costs Incurred
InterestCostsIncurred
|
0 | usd | |
CY2023Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
500000000 | shares |
CY2023Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
us-gaap |
Common Stock Voting Rights
CommonStockVotingRights
|
one | ||
CY2023Q3 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
4416075 | shares |
CY2023Q3 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
4416075 | shares |
CY2022Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
3737500 | shares |
CY2022Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
3737500 | shares |
kvac |
Percentage Of Issued And Outstanding Shares
PercentageOfIssuedAndOutstandingShares
|
0.20 | pure | |
CY2023Q3 | us-gaap |
Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
|
P5Y | |
us-gaap |
Warrant Exercise Price Increase
WarrantExercisePriceIncrease
|
0.01 | ||
kvac |
Exceeds Price Per Share
ExceedsPricePerShare
|
16.5 | ||
kvac |
Effective Issue Price Per Share
EffectiveIssuePricePerShare
|
9.35 | ||
kvac |
Percentage Of Aggregate Gross Proceeds
PercentageOfAggregateGrossProceeds
|
0.60 | pure | |
CY2023Q3 | us-gaap |
Investment Company Market Value Per Share
InvestmentCompanyMarketValuePerShare
|
9.35 | |
CY2023Q3 | kvac |
Percentage Of Exercise Price Warrants
PercentageOfExercisePriceWarrants
|
1.15 | pure |
CY2023Q3 | us-gaap |
Temporary Equity Redemption Price Per Share
TemporaryEquityRedemptionPricePerShare
|
16.5 | |
kvac |
Percentage Of Market Value
PercentageOfMarketValue
|
1.65 | pure | |
us-gaap |
Underwriting Expense Ratio
UnderwritingExpenseRatio
|
0.02 | pure | |
kvac |
Gross Proceeds From Issuance Of Initial Public Offering
GrossProceedsFromIssuanceOfInitialPublicOffering
|
2990000 | usd | |
CY2023Q3 | us-gaap |
Deferred Costs
DeferredCosts
|
usd | |
CY2022Q4 | us-gaap |
Deferred Compensation Liability Classified Noncurrent
DeferredCompensationLiabilityClassifiedNoncurrent
|
usd | |
CY2022Q4 | us-gaap |
Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
|
usd | |
CY2023Q3 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
usd | |
CY2022Q4 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
usd | |
CY2022Q3 | us-gaap |
Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
|
usd | |
us-gaap |
Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
|
usd | ||
CY2022Q3 | us-gaap |
Unrealized Gain Loss On Hybrid Instrument Net
UnrealizedGainLossOnHybridInstrumentNet
|
usd | |
us-gaap |
Unrealized Gain Loss On Hybrid Instrument Net
UnrealizedGainLossOnHybridInstrumentNet
|
usd | ||
us-gaap |
Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
|
usd | ||
us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
usd | ||
us-gaap |
Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
|
usd | ||
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
usd | ||
us-gaap |
Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
|
usd | ||
us-gaap |
Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
|
usd | ||
us-gaap |
Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
|
usd | ||
us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
usd | ||
us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
usd | ||
kvac |
Initial Classification Of Common Stock Subject To Possible Redemption
InitialClassificationOfCommonStockSubjectToPossibleRedemption
|
usd | ||
kvac |
Allocation Of Offering Costs To Common Stock Subject To Possible Redemption
AllocationOfOfferingCostsToCommonStockSubjectToPossibleRedemption
|
usd | ||
kvac |
Accretion Of Carrying Value To Redemption Value
AccretionOfCarryingValueToRedemptionValue
|
usd | ||
kvac |
Accrued Underwriting Compensation
AccruedUnderwritingCompensation
|
usd | ||
kvac |
Accretion Of Carrying Value To Redemption Value
AccretionOfCarryingValueToRedemptionValue
|
usd | ||
CY2022Q3 | kvac |
Accretion Of Carrying Value To Redemption Value
AccretionOfCarryingValueToRedemptionValue
|
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
|
0001889983 |