2022 Q3 Form 10-Q Financial Statement

#000182912622015519 Filed on August 08, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $0.00 $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 $110.1K $168.6K $3.550K
YoY Change 603.54% 1335.02%
Operating Profit -$110.1K -$168.6K -$3.550K
YoY Change 2723.18% 1335.02%
Interest Expense $519.9K $160.9K
YoY Change
% of Operating Profit
Other Income/Expense, Net $519.9K $160.9K
YoY Change
Pretax Income $409.8K -$7.705K -$3.550K
YoY Change -2718.61% -34.43%
Income Tax
% Of Pretax Income
Net Earnings $409.8K -$7.705K -$3.550K
YoY Change -2718.61% -34.43%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share $27.87K -$524.30 -$344.70
COMMON SHARES
Basic Shares Outstanding 14.71M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $115.9M $115.2M
YoY Change
Cash & Equivalents $188.4K $244.6K $54.13K
Short-Term Investments $115.7M $115.2M
Other Short-Term Assets $267.8K $358.1K $411.6K
YoY Change -20.26%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $115.9M $115.5M $411.6K
YoY Change 34429.06%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets -$5.00 -$1.00 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $115.9M $115.5M $411.6K
Total Long-Term Assets -$5.00 -$1.00 $0.00
Total Assets $115.9M $115.5M $411.6K
YoY Change 34429.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $79.63K $59.82K $115.0K
YoY Change 201.05%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $300.0K
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.955M $2.935M $415.0K
YoY Change 805.08%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $2.955M $2.935M $415.0K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $2.955M $2.935M $415.0K
YoY Change 805.08%
SHAREHOLDERS EQUITY
Retained Earnings -$2.690M -$2.580M
YoY Change
Common Stock $3.205K $3.205K $2.875K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$2.687M -$2.577M -$3.400K
YoY Change
Total Liabilities & Shareholders Equity $115.9M $115.5M $411.6K
YoY Change 34429.06%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income $409.8K -$7.705K -$3.550K
YoY Change -2718.61% -34.43%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$56.24K $20.25K -$41.85K
YoY Change -45.9%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 -$115.0M
YoY Change
Cash From Investing Activities $0.00 -$115.0M
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 0.000 115.2M
YoY Change -100.0% 35337.0%
NET CHANGE
Cash From Operating Activities -56.24K 20.25K -41.85K
Cash From Investing Activities 0.000 -115.0M
Cash From Financing Activities 0.000 115.2M
Net Change In Cash -56.24K 190.5K -41.85K
YoY Change -125.44% -41.38%
FREE CASH FLOW
Cash From Operating Activities -$56.24K $20.25K -$41.85K
Capital Expenditures
Free Cash Flow
YoY Change

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<p id="xdx_847_eus-gaap--UseOfEstimates_zCy2zNwr7Q42" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_864_zHivZfzVNvO2">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of 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 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; 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; 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 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; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
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95978 usd
CY2022Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 usd
CY2022Q2 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
0 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_84F_eus-gaap--ConcentrationRiskCreditRisk_zk06Oy7pDTvb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86D_zHGnHUga9Nx1">Concentration of Credit Risk</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Sale Of Stock Consideration Received Per Transaction
SaleOfStockConsiderationReceivedPerTransaction
115000000 usd
MSSAU Proceeds Allocated To Public Rights
ProceedsAllocatedToPublicRights
-8510000 usd
MSSAU Proceeds Allocated To Public Warrants
ProceedsAllocatedToPublicWarrants
-5290000 usd
MSSAU Allocation Of Offering Costs Related To Ordinary Shares
AllocationOfOfferingCostsRelatedToOrdinaryShares
-5020172 usd
us-gaap Accretion Expense
AccretionExpense
18820172 usd
MSSAU Subsequent Measurement Of Class Ordinary Shares Subject To Possible Redemption Interest Earned On Trust Account
SubsequentMeasurementOfClassOrdinarySharesSubjectToPossibleRedemptionInterestEarnedOnTrustAccount
160910 usd
MSSAU Common Stock Subject To Possible Redemption
CommonStockSubjectToPossibleRedemption
115160910 usd
CY2022Q2 us-gaap Related Party Transaction Selling General And Administrative Expenses From Transactions With Related Party
RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty
10000 usd
us-gaap Administrative Fees Expense
AdministrativeFeesExpense
28333 usd
CY2021Q4 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
300000 usd
CY2022Q2 MSSAU Deferred Underwriting Commissions
DeferredUnderwritingCommissions
2875000 usd
us-gaap Professional Fees
ProfessionalFees
25000 usd
MSSAU Public Offering Closing Price
PublicOfferingClosingPrice
150000 usd
MSSAU Monthly Payment Description
MonthlyPaymentDescription
The Company enter into the agreement with monthly retainer of $5,000 starting form April 1, 2022.
CY2022Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
15000 usd
CY2022Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000 shares
CY2022Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
us-gaap Common Stock Voting Rights
CommonStockVotingRights
Holders of the ordinary shares are entitled to one vote for each ordinary share.
CY2022Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
3205000 shares
CY2022Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
3205000 shares
CY2022Q2 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
11500000 shares

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0001829126-22-015519-index-headers.html Edgar Link pending
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0001829126-22-015519.txt Edgar Link pending
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