2023 Q1 Form 10-K Financial Statement

#000182912623002428 Filed on March 30, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
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 $263.4K $116.5K $398.8K
YoY Change 7320.28% 1166.74% 1504.88%
Operating Profit -$263.4K -$398.8K
YoY Change 7320.23%
Interest Expense $858.9K $992.7K $1.673M
YoY Change
% of Operating Profit
Other Income/Expense, Net $858.9K $1.673M
YoY Change
Pretax Income $595.5K $876.1K $1.275M
YoY Change -16874.7% -9622.93% -5229.45%
Income Tax
% Of Pretax Income
Net Earnings $595.5K $876.1K $1.275M
YoY Change -16874.7% -9622.93% -5229.45%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share $0.07 $0.06 $0.09
COMMON SHARES
Basic Shares Outstanding 8.820M shares 14.71M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $58.20M $116.9M $116.7M
YoY Change 121648.87%
Cash & Equivalents $0.00 $178.7K
Short-Term Investments $58.20M $116.7M $116.7M
Other Short-Term Assets $133.2K $218.3K $218.3K
YoY Change -67.64% -34.34% -34.34%
Inventory
Prepaid Expenses $39.68K
Receivables
Other Receivables
Total Short-Term Assets $58.33M $116.9M $116.9M
YoY Change 14071.15% 35055.43% 35055.43%
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 -$1.00 $0.00 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $58.33M $116.9M $116.9M
Total Long-Term Assets -$1.00 $0.00 $0.00
Total Assets $58.33M $116.9M $116.9M
YoY Change 14071.15% 35055.43% 35055.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $289.1K $146.7K $146.7K
YoY Change 151.34% 18242.25% 353.6%
Deferred Revenue
YoY Change
Short-Term Debt $793.6K $0.00 $0.00
YoY Change 164.52% -100.0% -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.958M $3.022M $3.022M
YoY Change 853.57% 809.2% 809.2%
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 $3.958M $3.022M $3.022M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $3.958M $3.022M $3.022M
YoY Change 853.57% 809.2% 809.2%
SHAREHOLDERS EQUITY
Retained Earnings -$3.828M -$2.807M
YoY Change 11194.2%
Common Stock $3.205K $3.205K
YoY Change 11.48% 11.48%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$3.824M -$2.803M $113.9M
YoY Change
Total Liabilities & Shareholders Equity $58.33M $116.9M $116.9M
YoY Change 14071.15% 35055.43% 35055.43%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $595.5K $876.1K $1.275M
YoY Change -16874.7% -9622.93% -5229.45%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$82.16K -$9.750K -$87.59K
YoY Change 96.32% -92.2% -61.76%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $59.33M $0.00 -$115.0M
YoY Change
Cash From Investing Activities $59.33M $0.00 -$115.0M
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $114.7M
YoY Change 458700.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$59.30M 0.000 $115.2M
YoY Change 35337.0%
NET CHANGE
Cash From Operating Activities -$82.16K -9.750K -$87.59K
Cash From Investing Activities $59.33M 0.000 -$115.0M
Cash From Financing Activities -$59.30M 0.000 $115.2M
Net Change In Cash -$46.28K -9.750K $82.67K
YoY Change 10.59% -92.2% -13.86%
FREE CASH FLOW
Cash From Operating Activities -$82.16K -$9.750K -$87.59K
Capital Expenditures
Free Cash Flow
YoY Change

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CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84D_eus-gaap--UseOfEstimates_zaDJDGHyrOdb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_868_z5DoUG1426V">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 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 0; 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 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 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 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 0; text-align: justify"> </p>
CY2022Q4 MSSAU Cash Held In Escrow
CashHeldInEscrow
178652 usd
CY2021Q4 MSSAU Cash Held In Escrow
CashHeldInEscrow
95978 usd
CY2022 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
1673481 usd
CY2022 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
1295815 usd
CY2022 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
377666 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 usd
CY2022Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
0 usd
CY2021Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
0 usd
CY2022 MSSAU Warrants Exercisable
WarrantsExercisable
5915000 shares
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_847_eus-gaap--ConcentrationRiskCreditRisk_zKgnXDprfub2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_861_zEnHRhWnbKPd">Concentration of Credit Risk</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 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 0; 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 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022 us-gaap Sale Of Stock Consideration Received Per Transaction
SaleOfStockConsiderationReceivedPerTransaction
115000000 usd
CY2022 MSSAU Proceeds Allocated To Public Rights
ProceedsAllocatedToPublicRights
-8510000 usd
CY2022 MSSAU Proceeds Allocated To Public Warrants
ProceedsAllocatedToPublicWarrants
-5290000 usd
CY2022 MSSAU Allocation Of Offering Costs Related To Ordinary Shares
AllocationOfOfferingCostsRelatedToOrdinaryShares
-5020172 usd
CY2022 us-gaap Accretion Expense
AccretionExpense
18820172 usd
CY2022 MSSAU Subsequent Measurement Of Class Ordinary Shares Subject To Possible Redemption Interest Earned And Unrealized Gain On Trust Account
SubsequentMeasurementOfClassOrdinarySharesSubjectToPossibleRedemptionInterestEarnedAndUnrealizedGainOnTrustAccount
1673481 usd
CY2022Q2 MSSAU Related Party Service Fee
RelatedPartyServiceFee
10000 usd
CY2022 us-gaap Administrative Fees Expense
AdministrativeFeesExpense
88333 usd
CY2021Q4 MSSAU Promissory Note Related Party
PromissoryNoteRelatedParty
300000 usd
CY2021Q2 us-gaap Convertible Debt
ConvertibleDebt
1500000 usd
CY2021Q2 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
10.00
CY2021Q2 us-gaap Convertible Debt
ConvertibleDebt
1500000 usd
CY2022Q3 MSSAU Deferred Underwriting Commissions
DeferredUnderwritingCommissions
2875000 usd
CY2021Q4 MSSAU Deferred Underwriting Commissions
DeferredUnderwritingCommissions
0 usd
CY2022 us-gaap Professional Fees
ProfessionalFees
25000 usd
CY2022 MSSAU Monthly Payment Description
MonthlyPaymentDescription
The Company enter into the agreement with monthly retainer of $5,000 starting form April 1, 2022
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
45000 usd
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000 shares
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022 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

Files In Submission

Name View Source Status
mssau-20221231_def.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
mssau-20221231_cal.xml Edgar Link unprocessable
0001829126-23-002428-index-headers.html Edgar Link pending
0001829126-23-002428-index.html Edgar Link pending
0001829126-23-002428.txt Edgar Link pending
0001829126-23-002428-xbrl.zip Edgar Link pending
ex3-1_001.jpg Edgar Link pending
ex3-1_002.jpg Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
metalskystar_10k.htm Edgar Link pending
metalskystar_ex21.htm Edgar Link pending
metalskystar_ex3-2.htm Edgar Link pending
metalskystar_ex31-1.htm Edgar Link pending
metalskystar_ex31-2.htm Edgar Link pending
metalskystar_ex32-1.htm Edgar Link pending
metalskystar_ex32-2.htm Edgar Link pending
metalskystar_ex4-2.htm Edgar Link pending
mssau-20221231.xsd Edgar Link pending
R1.htm Edgar Link pending
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mssau-20221231_pre.xml Edgar Link unprocessable
mssau-20221231_lab.xml Edgar Link unprocessable
metalskystar_10k_htm.xml Edgar Link completed
R5.htm Edgar Link pending
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report.css Edgar Link pending
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