2024 Q3 Form 10-Q Financial Statement
#000121390024109808 Filed on December 17, 2024
Income Statement
Concept | 2024 Q3 |
---|---|
Revenue | |
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 | |
YoY Change | |
Operating Profit | -$317.3K |
YoY Change | 9.37% |
Interest Expense | |
YoY Change | |
% of Operating Profit | |
Other Income/Expense, Net | $427.9K |
YoY Change | -926.98% |
Pretax Income | $110.7K |
YoY Change | -132.38% |
Income Tax | $19.50K |
% Of Pretax Income | 17.62% |
Net Earnings | $91.18K |
YoY Change | -124.82% |
Net Earnings / Revenue | |
Basic Earnings Per Share | $0.02 |
Diluted Earnings Per Share | $0.02 |
COMMON SHARES | |
Basic Shares Outstanding | 5.194M shares |
Diluted Shares Outstanding | 5.194M shares |
Balance Sheet
Concept | 2024 Q3 |
---|---|
SHORT-TERM ASSETS | |
Cash & Short-Term Investments | |
YoY Change | |
Cash & Equivalents | $533.00 |
Short-Term Investments | |
Other Short-Term Assets | |
YoY Change | |
Inventory | |
Prepaid Expenses | |
Receivables | |
Other Receivables | |
Total Short-Term Assets | $681.9K |
YoY Change | 345.81% |
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 | $8.102M |
YoY Change | -23.94% |
TOTAL ASSETS | |
Total Short-Term Assets | $681.9K |
Total Long-Term Assets | $8.102M |
Total Assets | $8.784M |
YoY Change | -18.7% |
SHORT-TERM LIABILITIES | |
YoY Change | |
Accounts Payable | |
YoY Change | |
Accrued Expenses | $727.0K |
YoY Change | 66.34% |
Deferred Revenue | |
YoY Change | |
Short-Term Debt | |
YoY Change | |
Long-Term Debt Due | |
YoY Change | |
Total Short-Term Liabilities | $5.165M |
YoY Change | 72.23% |
LONG-TERM LIABILITIES | |
Long-Term Debt | |
YoY Change | |
Other Long-Term Liabilities | |
YoY Change | |
Total Long-Term Liabilities | |
YoY Change | |
TOTAL LIABILITIES | |
Total Short-Term Liabilities | $5.165M |
Total Long-Term Liabilities | |
Total Liabilities | $5.818M |
YoY Change | 58.67% |
SHAREHOLDERS EQUITY | |
Retained Earnings | -$5.176M |
YoY Change | 48.57% |
Common Stock | $519.00 |
YoY Change | 0.0% |
Preferred Stock | |
YoY Change | |
Treasury Stock (at cost) | |
YoY Change | |
Treasury Stock Shares | |
Shareholders Equity | -$5.175M |
YoY Change | |
Total Liabilities & Shareholders Equity | $8.784M |
YoY Change | -18.7% |
Cashflow Statement
Concept | 2024 Q3 |
---|---|
OPERATING ACTIVITIES | |
Net Income | $91.18K |
YoY Change | -124.82% |
Depreciation, Depletion And Amortization | |
YoY Change | |
Cash From Operating Activities | |
YoY Change | |
INVESTING ACTIVITIES | |
Capital Expenditures | |
YoY Change | |
Acquisitions | |
YoY Change | |
Other Investing Activities | |
YoY Change | |
Cash From Investing Activities | |
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 | |
YoY Change | |
NET CHANGE | |
Cash From Operating Activities | |
Cash From Investing Activities | |
Cash From Financing Activities | |
Net Change In Cash | |
YoY Change | |
FREE CASH FLOW | |
Cash From Operating Activities | |
Capital Expenditures | |
Free Cash Flow | |
YoY Change |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2023Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
usd | |
CY2023Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
shares | |
CY2024Q3 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
usd | |
CY2024Q3 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
usd | |
CY2024Q3 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
shares | |
CY2024Q3 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
shares | |
CY2023Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
shares | |
dei |
Document Type
DocumentType
|
10-Q | ||
dei |
Document Quarterly Report
DocumentQuarterlyReport
|
true | ||
dei |
Document Period End Date
DocumentPeriodEndDate
|
2024-09-30 | ||
dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2024 | ||
dei |
Document Transition Report
DocumentTransitionReport
|
false | ||
dei |
Entity File Number
EntityFileNumber
|
001-41177 | ||
dei |
Entity Registrant Name
EntityRegistrantName
|
NORTHVIEW ACQUISITION CORP. | ||
dei |
Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
|
DE | ||
dei |
Entity Tax Identification Number
EntityTaxIdentificationNumber
|
86-3437271 | ||
dei |
Entity Address Address Line1
EntityAddressAddressLine1
|
207 West 25th St | ||
dei |
Entity Address Address Line2
EntityAddressAddressLine2
|
9th 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
|
10001 | ||
dei |
City Area Code
CityAreaCode
|
(212) | ||
dei |
Local Phone Number
LocalPhoneNumber
|
494-9022 | ||
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 | ||
CY2024Q4 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
5881269 | shares |
CY2024Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
533 | usd |
CY2023Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
4519 | usd |
CY2024Q3 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
38945 | usd |
CY2023Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
6750 | usd |
CY2024Q3 | us-gaap |
Prepaid Taxes
PrepaidTaxes
|
47026 | usd |
CY2024Q3 | us-gaap |
Assets Held In Trust Current
AssetsHeldInTrustCurrent
|
595439 | usd |
CY2023Q4 | us-gaap |
Assets Held In Trust Current
AssetsHeldInTrustCurrent
|
1565078 | usd |
CY2024Q3 | us-gaap |
Assets Current
AssetsCurrent
|
681943 | usd |
CY2023Q4 | us-gaap |
Assets Current
AssetsCurrent
|
1576347 | usd |
CY2024Q3 | us-gaap |
Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
|
8101849 | usd |
CY2023Q4 | us-gaap |
Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
|
9308328 | usd |
CY2024Q3 | us-gaap |
Assets
Assets
|
8783792 | usd |
CY2023Q4 | us-gaap |
Assets
Assets
|
10884675 | usd |
CY2024Q3 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
726980 | usd |
CY2023Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
449114 | usd |
CY2024Q3 | nvac |
Advance From Profusa
AdvanceFromProfusa
|
320717 | usd |
CY2024Q3 | us-gaap |
Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
|
1880944 | usd |
CY2023Q4 | us-gaap |
Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
|
1864106 | usd |
CY2024Q3 | us-gaap |
Redeemable Noncontrolling Interest Equity Common Carrying Amount
RedeemableNoncontrollingInterestEquityCommonCarryingAmount
|
595439 | usd |
CY2023Q4 | us-gaap |
Redeemable Noncontrolling Interest Equity Common Carrying Amount
RedeemableNoncontrollingInterestEquityCommonCarryingAmount
|
1565078 | usd |
CY2023Q4 | us-gaap |
Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
|
49061 | usd |
CY2024Q3 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
5165460 | usd |
CY2023Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
4921477 | usd |
CY2023Q4 | us-gaap |
Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
|
13661 | usd |
CY2024Q3 | us-gaap |
Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
|
652659 | usd |
CY2023Q4 | us-gaap |
Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
|
156639 | usd |
CY2024Q3 | us-gaap |
Liabilities
Liabilities
|
5818119 | usd |
CY2023Q4 | us-gaap |
Liabilities
Liabilities
|
5091777 | usd |
CY2024Q3 | us-gaap |
Temporary Equity Shares Issued
TemporaryEquitySharesIssued
|
687519 | shares |
CY2023Q4 | us-gaap |
Temporary Equity Shares Issued
TemporaryEquitySharesIssued
|
833469 | shares |
CY2024Q3 | us-gaap |
Temporary Equity Redemption Price Per Share
TemporaryEquityRedemptionPricePerShare
|
11.84 | |
CY2023Q4 | us-gaap |
Temporary Equity Redemption Price Per Share
TemporaryEquityRedemptionPricePerShare
|
11.1 | |
CY2024Q3 | us-gaap |
Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
|
8140935 | usd |
CY2023Q4 | us-gaap |
Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
|
9252208 | usd |
CY2024Q3 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2023Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2024Q3 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | shares |
CY2023Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | shares |
CY2024Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
CY2023Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
CY2024Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
100000000 | shares |
CY2023Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
100000000 | shares |
CY2024Q3 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
5193750 | shares |
CY2023Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
5193750 | shares |
CY2024Q3 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
5193750 | shares |
CY2023Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
5193750 | shares |
CY2024Q3 | us-gaap |
Common Stock Value
CommonStockValue
|
519 | usd |
CY2023Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
519 | usd |
CY2024Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-5175781 | usd |
CY2023Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-3459829 | usd |
CY2024Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-5175262 | usd |
CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-3459310 | usd |
CY2024Q3 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
8783792 | usd |
CY2023Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
10884675 | usd |
CY2024Q3 | us-gaap |
Operating Costs And Expenses
OperatingCostsAndExpenses
|
317270 | usd |
CY2023Q3 | us-gaap |
Operating Costs And Expenses
OperatingCostsAndExpenses
|
290098 | usd |
us-gaap |
Operating Costs And Expenses
OperatingCostsAndExpenses
|
1041241 | usd | |
us-gaap |
Operating Costs And Expenses
OperatingCostsAndExpenses
|
1048525 | usd | |
CY2024Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-317270 | usd |
CY2023Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-290098 | usd |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-1041241 | usd | |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-1048525 | usd | |
CY2024Q3 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
108750 | usd |
CY2023Q3 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
138725 | usd |
us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
333934 | usd | |
us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
2103111 | usd | |
CY2024Q3 | nvac |
Change In Fair Value Of Convertible Promissory Note
ChangeInFairValueOfConvertiblePromissoryNote
|
-14621 | usd |
CY2023Q3 | nvac |
Change In Fair Value Of Convertible Promissory Note
ChangeInFairValueOfConvertiblePromissoryNote
|
-53186 | usd |
nvac |
Change In Fair Value Of Convertible Promissory Note
ChangeInFairValueOfConvertiblePromissoryNote
|
-140719 | usd | |
nvac |
Change In Fair Value Of Convertible Promissory Note
ChangeInFairValueOfConvertiblePromissoryNote
|
-111776 | usd | |
CY2024Q3 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
-304575 | usd |
CY2023Q3 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
243659 | usd |
us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
496020 | usd | |
us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
-190079 | usd | |
CY2024Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
427946 | usd |
CY2023Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-51748 | usd |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-21367 | usd | |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
2404966 | usd | |
CY2024Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
110676 | usd |
CY2023Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-341846 | usd |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-1062608 | usd | |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
1356441 | usd | |
CY2024Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
19499 | usd |
CY2023Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
25499 | usd |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
63979 | usd | |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
430502 | usd | |
CY2024Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
91177 | usd |
CY2023Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-367345 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-1126587 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
925939 | usd | |
CY2024Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
5193750 | shares |
CY2024Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
5193750 | shares |
CY2023Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
5193750 | shares |
CY2023Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
5193750 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
5193750 | shares | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
5193750 | shares | |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
5193750 | shares | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
5193750 | shares | |
CY2024Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.02 | |
CY2024Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.02 | |
CY2023Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.06 | |
CY2023Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.06 | |
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.19 | ||
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.19 | ||
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.08 | ||
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.08 | ||
CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-3459310 | usd |
CY2024Q1 | us-gaap |
Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
|
205732 | usd |
CY2024Q1 | nvac |
Excise Tax Liability In Connection With Stock Redemptions
ExciseTaxLiabilityInConnectionWithStockRedemptions
|
-10884 | usd |
CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-820277 | usd |
CY2024Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-4496203 | usd |
CY2024Q2 | us-gaap |
Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
|
181330 | usd |
CY2024Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-397487 | usd |
CY2024Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-5075020 | usd |
CY2024Q3 | us-gaap |
Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
|
185465 | usd |
CY2024Q3 | nvac |
Excise Tax Liability In Connection With Stock Redemptions
ExciseTaxLiabilityInConnectionWithStockRedemptions
|
-5954 | usd |
CY2024Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
91177 | usd |
CY2024Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-5175262 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-619476 | usd |
CY2023Q1 | us-gaap |
Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
|
1279617 | usd |
CY2023Q1 | nvac |
Excise Tax Liability In Connection With Stock Redemptions
ExciseTaxLiabilityInConnectionWithStockRedemptions
|
-1848455 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
440895 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-3306653 | usd |
CY2023Q2 | us-gaap |
Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
|
419670 | usd |
CY2023Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
852389 | usd |
CY2023Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-2873934 | usd |
CY2023Q3 | us-gaap |
Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
|
242047 | usd |
CY2023Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-367345 | usd |
CY2023Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-3483326 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-1126587 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
925939 | usd | |
us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
333934 | usd | |
us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
2103111 | usd | |
us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
496020 | usd | |
us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
-190079 | usd | |
nvac |
Change In Fair Value Of Convertible Promissory Note
ChangeInFairValueOfConvertiblePromissoryNote
|
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nvac |
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Payment Of Extension Fee Into Trust Account
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340947 | usd | |
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Cash Withdrawn From Trust Account In Connection With Redemption
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Payments For Repurchase Of Common Stock
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Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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CY2023Q4 | us-gaap |
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4519 | usd |
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193486 | usd |
CY2024Q3 | us-gaap |
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533 | usd |
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Income Taxes Paid
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173727 | usd | |
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Income Taxes Paid
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891437 | usd | |
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Excise Tax Payable Redemption Of Common Stock
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Excise Tax Payable Redemption Of Common Stock
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Common Stock Subject To Redemptions
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Common Stock Subject To Redemptions
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Reclassification Of Common Stock Subject To Redemption To Common Stock To Be Redeemed
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 1 – Description of Organization and Business Operations</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><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">NorthView Acquisition Corporation (the “Company” or “Northview”) is a blank check company incorporated in Delaware on April 19, 2021. The Company was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses (“Business Combination”). The Company has identified a target company for a business combination and is consummating the acquisition of Profusa.</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 Company has a wholly-owned subsidiary, NV Profusa Merger Sub Inc. (“Merger Sub”), a Delaware corporation incorporated on October 13, 2022, formed solely in contemplation of the Merger with Profusa (See Note 6). Merger Sub has not commenced any operations and has only nominal assets and no liabilities or contingent liabilities, nor any outstanding commitments other than in connection with the Merger.</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">On December 22, 2021, the Company consummated its Initial Public Offering (“IPO”) of 18,975,000 units (the “Units”), which included 2,475,000 Units issued pursuant to the full exercise of the over-allotment option granted to the underwriters. Each Unit consists of one share of common stock of the Company, par value $0.0001 per share, one right (the “Rights”), and one-half of one redeemable warrant of the Company (the “Warrants”). Each Right entitles the holder thereof to receive one-tenth (1/10) of one share of common stock. Each Warrant entitles the holder thereof to purchase one share of common stock for $11.50 per share, subject to adjustment. The Units were sold at a price of $10.00 per Unit, generating gross proceeds to the Company of $189,750,000.</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">Simultaneously with the closing of the IPO, the Company completed the private sale of an aggregate of 7,347,500 warrants (the “Private Placement Warrants”), which included 697,500 Private Placement Warrants issued pursuant to the full exercise of the over-allotment option granted to the underwriters, to NorthView Sponsor I, LLC (“the Sponsor”), I-Bankers Securities, Inc., and Dawson James Securities, Inc. at a purchase price of $1.00 per Private Placement Warrant, generating gross proceeds to the Company of $7,347,500, which is discussed in Note 4.</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">Transaction costs amounted to $7,959,726 consisting of $3,450,000 of underwriting discount, $3,570,576 of Representative’s Shares cost, $259,527 of Representative’s Warrants cost and $679,623 of other offering costs.</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 Company’s Business Combination must be with one or more target businesses that together have a fair market value equal to at least 80% of the value of the assets held in the Trust Account (as defined below) (excluding taxes payable on the interest earned on the Trust Account) at the time of the signing a definitive agreement in connection with the initial Business Combination. However, 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. There is no assurance that the Company will be able to successfully effect a Business Combination.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 17.1pt"><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">Following the closing of the Public Offering on December 22, 2021, an amount of $191,647,500 ($10.10 per Unit), excluding $741,228 that was wired to the Company’s operating bank account on December 31, 2021 for working capital purposes, from the net proceeds of the sale of the public units in the IPO and the sale of the Private Placement Warrants was placed in a Trust Account (“Trust Account”) and invested in United States government treasury bills with a maturity of 185 days or less or in money market funds investing solely in United States Treasuries and meeting certain conditions under Rule 2a-7 under the Investment Company Act as determined by the Company. Except with respect to interest earned on the funds held in the Trust Account that may be released to the Company to pay its taxes, if any, the proceeds from the IPO will not be released from the Trust Account until the earliest of (i) the completion of the Company’s initial Business Combination, (ii) the redemption of any public shares properly tendered in connection with a stockholder vote to amend the Company’s amended and restated certificate of incorporation (A) to modify the substance or timing of the Company’s obligation to redeem 100% of the public shares if the Company does not complete the initial Business Combination within the extended period (or any additional extension from the closing of our IPO if we extend the period of time to consummate a business combination) (the “Combination Period”), or (B) with respect to any other provision relating to stockholders’ rights or pre-Business Combination activity, and (iii) the redemption of all of the Company’s public shares if the Company is unable to complete the Business Combination within the Combination Period, subject to applicable law. The proceeds deposited in the Trust Account could become subject to the claims of the Company’s creditors, if any, which could have priority over the claims of the Company’s public stockholders.</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 Company will provide its public stockholders with the opportunity to redeem all or a portion of their public shares upon the completion of the initial Business Combination either (i) in connection with a stockholder meeting called to approve the initial Business Combination or (ii) by means of a tender offer. The decision as to whether the Company will seek stockholder approval of a proposed initial Business Combination or conduct a tender offer will be made by the Company, solely in its discretion. The stockholders will be entitled to redeem all or a portion of their public shares upon the completion of the initial Business Combination at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account as of two business days prior to the consummation of the initial Business Combination, including interest (which interest shall be net of taxes payable) divided by the number of then outstanding public shares, subject to the limitations described herein. The per share amount the Company will distribute to investors who properly redeem their shares will not be reduced by the fee payable to I-Bankers and Dawson James pursuant to the Business Combination Marketing Agreement (see Note 6).</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">If the Company is unable to complete an initial Business Combination within the Combination Period, it will: (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust account, including interest (which interest shall be net of taxes payable, and less up to $100,000 of interest to pay dissolution expenses) divided by the number of then outstanding public shares, which redemption will completely extinguish public stockholders’ rights as stockholders (including the right to receive further liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company’s remaining stockholders and its board of directors, dissolve and liquidate, subject in each case to the Company’s obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law. There will be no redemption rights or liquidating distributions with respect to the Company’s rights and warrants, which will expire worthless if the Company fails to complete the Business Combination within the Combination 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">On December 21, 2023, the Company held a special meeting of stockholders to vote on extending the Combination Period. As a result, the Company extended the Combination Period from December 22, 2023 to March 22, 2024. In connection with the extension, 140,663 shares of the Company’s common stock were redeemed, with 6,027,219 shares of Common Stock remaining outstanding after the Redemption; 833,469 shares of Common Stock remaining outstanding after the Redemption are shares issued in connection with our initial public offering. In January 2024, $1,565,078 was paid from the Trust Account to redeeming stockholders in connection with the extension.</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">On January 2, 2024, the Company and Continental Stock Transfer & Trust Company (“CST”) entered into Amendment No. 1 to Investment Management Trust Agreement, dated December 20, 2021, by and between the Company and CST, to allow CST, upon written instruction of the Company, to (i) hold the funds in the Company’s trust account uninvested or (ii) hold the funds in an interest-bearing bank demand deposit 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> <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">On January 10, 2024, the Company’s Board of Directors approved, and the Company amended, its Convertible Working Capital Promissory Note (the “Note”) with the sponsor to increase the principal amount of the Note that could be drawn on to $1.5 million. The amended and restated Note also allows for the conversion of the outstanding principal balance of the Note to be repaid in shares of Company common stock at a price of $2.22 per share at the election of the sponsor.</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">On March 21, 2024, the Company held its 2024 Annual Meeting of Stockholders (the “Meeting”). At the meeting, the Company’s stockholders approved the amendment of the Company’s amended and restated certificate of incorporation to extend the date by which the Company must consummate a business combination or, if it fails to do so, cease its operations and redeem or repurchase 100% of the shares of the Company’s common stock issued in the Company’s initial public offering, from March 22, 2024, monthly for up to six additional months at the election of the Company and only upon contribution of $0.05 per month per outstanding public share, ultimately until September 22, 2024.</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">In connection with the meeting, the holders of 95,394 Public Shares properly exercised their right to redeem, with 5,931,825 shares of Common Stock remaining outstanding after the Redemption; 738,075 shares of Common Stock remaining outstanding after the Redemption are shares issued in connection with the initial public offering. Consequently, the contribution is $36,904 per month needed for the Company to continue to extend the Combination Period monthly. On May 8, 2024 and May 31, 2024, the Company made two deposits of $36,904 each for April and May extension contributions. On September 10, 2024, the Company made a deposit of $112,114, of which $110,714 was for June, July and August extension contributions and $1,400 for lost interest due to late trust payments.</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">On September 19, 2024, the Company held an extraordinary general meeting of stockholders (the “Meeting”). At the Meeting, the Company’s stockholders approved an amendment to the Company’s amended and restated certificate of incorporation to extend the date by which the Company must consummate its initial Business Combination to March 22, 2025. In connection with the approval of the extension amendment, holders of 50,556 shares of the Company’s common stock exercised their right to redeem, with 5,881,269 shares of common stock remaining outstanding after the redemption; 687,519 shares of common stock remaining outstanding after the redemption are shares issued in connection with our initial public offering. Consequently, the contribution is $34,376 per month needed for the Company to continue to extend the Combination Period monthly. On October 4, 2024, the Company made a deposit of $34,376 for the September extension contribution. On December 13, 2024, the Company made a deposit of $68,752 for the October and November extension contributions. In October 2024, $595,439 was paid from the trust account to redeeming stockholders in connection with the extension.</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">All of the Public Shares, or shares of our common stock sold as part of the IPO, contain a redemption feature which allows for the redemption of such Public Shares in connection with our liquidation, if there is a stockholder vote or tender offer in connection with our initial business combination and in connection with certain amendments to our amended and restated certificate of incorporation. In accordance with SEC and its guidance on redeemable equity instruments, which has been codified in ASC 480-10-S99, redemption provisions not solely within the control of a company require common stock subject to redemption to be classified outside of permanent equity. Given that the Public Shares were issued with other freestanding instruments (i.e., public warrants), the initial carrying value of common stock classified as temporary equity was the allocated proceeds determined in accordance with ASC 470-20. The common stock is subject to ASC 480-10-S99. If it is probable that the equity instrument will become redeemable, the Company has the option to either (i) accrete changes in the redemption value over the period from the date of issuance (or from the date that it becomes probable that the instrument will become redeemable, if later) to the earliest redemption date of the instrument or (ii) recognize changes in the redemption value immediately as they occur and adjust the carrying amount of the instrument to equal the redemption value at the end of each reporting period. The Company has elected to recognize the changes immediately. While redemptions cannot cause the Company’s net tangible assets to fall below $5,000,001, the Public Shares are redeemable and will be classified as such on the consolidated balance sheets until such date that a redemption event takes place.</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 Sponsor, officers and directors have agreed to (i) waive their redemption rights with respect to their Founder Shares and public shares in connection with the completion of the initial Business Combination, (ii) waive their rights to liquidating distributions from the Trust Account with respect to their Founder Shares if the Company fails to complete the initial Business Combination within the Combination Period (although they will be entitled to liquidating distributions from the Trust Account with respect to any public shares they hold if the Company fails to complete the Business Combination within such time period); and (iii) vote their Founder Shares and any public shares purchased during or after the IPO in favor of the initial Business Combination.</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 Company’s Sponsor has agreed that it will be liable to the Company if and to the extent any claims by a vendor for services rendered or products sold to the Company, or a prospective target business with which the Company has discussed entering into a transaction agreement, reduce the amount of funds in the Trust Account to below (i) $10.10 per public share or (ii) such lesser amount per public share held in the Trust Account as of the date of the liquidation of the Trust Account due to reductions in value of the trust assets, in each case net of the amount of interest which may be released to the Company to pay taxes, except as to any claims by a third party who executed a waiver of any and all rights to seek access to the Trust Account and except as to any claims under indemnity of the underwriters of the IPO against certain liabilities, including liabilities under the Securities Act. Moreover, in the event that an executed waiver is deemed to be unenforceable against a third party, the Sponsor will not be responsible to the extent of any liability for such third-party claims.</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"><i>Nasdaq Delisting Notification</i></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">On January 11, 2024, we received a written notice (the “Notice”) from the Listing Qualifications Department of Nasdaq indicating that we are not in compliance with Nasdaq Listing Rule 5620(a) (the “Annual Stockholders Meeting Rule”) due to our failure to hold an annual meeting of stockholders within twelve months of the end of our fiscal year end. The Notice is only a notification of deficiency, not of imminent delisting, and has no current effect on the listing or trading of our securities on the Nasdaq Stock Market. The Company subsequently held its annual stockholders meeting on March 21, 2024. On March 25, 2024, the Company received a notice from the Listing Qualifications Department of Nasdaq indicating that it had demonstrated compliance with the Annual Stockholders Meeting Rule. </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">On March 7, 2024, the Company received a written notice (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) stating that the Company is not in compliance with the requirement to maintain a minimum Market Value of Publicly Held Shares (MVPHS) of $15 million, as set forth in Nasdaq Listing Rule 5450(b)(2)(C) (the “MVPHS Requirement”), because the MVPHS of the Company was below $15 million for the 30 consecutive business days prior to the date of the Notice.</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 Notice does not impact the listing of the Common Stock on The Nasdaq Global Market at this time. The Notice provided that, in accordance with Nasdaq Listing Rule 5810(c)(3)(D), the Company has a period of 180 calendar days from the date of the Notice, or until September 3, 2024, to regain compliance with the MVPHS Requirement. During this period, the Common Stock will continue to trade on The Nasdaq Global Market. If at any time before September 3, 2024 the MVPHS closes at $15 million or more for a minimum of ten consecutive business days, Nasdaq will provide written notification that the Company has achieved compliance with the MVPHS Requirement and the matter will be closed.</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">On June 3, 2024, the Company received a delinquency notification letter from the Listing Qualifications Staff (the “Staff”) of the Nasdaq Stock Market LLC (“Nasdaq”) due to the Company’s non-compliance with Nasdaq Listing Rule 5250(c)(1) (the “Listing Rule”) as a result of the Company’s failure to timely file its Quarterly Report on Form 10-Q for the period ended March 31, 2024.</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 Notice provides that the Company may be eligible to transfer the listing of its securities to The Nasdaq Capital Market (provided that it then satisfies the requirements for continued listing on that market). Prior to September 3, 2024, the Company submitted an application to transfer the listing of its securities to the Nasdaq Capital Market.</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">On September 12, 2024, the Company received a letter (the “Nasdaq Letter”) from the Staff indicating the Company’s non-compliance with the Listing Rule as a result of the Company’s failure to timely file its Quarterly Report on Form 10-Q for the period ended June 30, 2024.</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">This Nasdaq Letter has no immediate effect on the listing of the Company’s securities on Nasdaq. However, if the Company fails to timely regain compliance with the Rule, the Company’s securities will be subject to delisting from Nasdaq.</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 Nasdaq Letter also notified the Company that the Staff has granted the Company an exception to enable it to regain compliance with the Listing Rule. Pursuant to the terms of the exception, the Company must file the following on or prior to October 14, 2024:</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> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; padding-right: 0.8pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; padding-right: 0.8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.8pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s Quarterly Report on Form 10-Q for the period ended March 31, 2024; and</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.8pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.8pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.8pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.8pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s Quarterly Report on Form 10-Q for the period ended June 30, 2024.</span></td></tr> </table> <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">On October 9, 2024, the Company filed its Quarterly Report on Form 10-Q for the period ended March 31, 2024.</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">On October 15, 2024, the Company received a letter (the “Extension Notice”) from the Staff notifying the Company that it had partially regained compliance with the Listing Rule by filing its Quarterly Report on Form 10-Q for the period ended March 31, 2024.</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 Extension Notice also notified the Company that the Staff had determined to grant the Company a further exception to enable it to regain compliance with the Listing Rule. Pursuant to the terms of the exception, the Company must file its Quarterly Report on Form 10-Q for the period ended June 30, 2024 on or prior to November 18, 2024. On November 15, 2024, the Company filed its Quarterly Report on Form 10-Q for the period ended June 30, 2024.</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">Neither the Prior Notice nor the Extension Notice has an immediate effect on the listing of the Company’s securities on Nasdaq. However, if the Company fails to timely regain compliance with the Rule, the Company’s securities will be subject to delisting from Nasdaq.</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">If the Company does not satisfy the terms of the exception, the Staff will provide written notification that the Company’s securities will be delisted. At such time, the Company could appeal the Staff’s determination to a Hearings Panel.</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">On December 6, 2024, the Company received a notice from the Nasdaq’s Listing Qualifications’ Staff stating that since the Company has not filed its Form 10-Q for the period ended September 30, 2024, the Company no longer complies with Listing Rules for continued listing. The Company has 60 calendar days to submit a plan to regain compliance and if Nasdaq accepts the plan, the Company will be granted an exception of up to 180 calendar days from filing’s due date or until May 19, 2025 to regain compliance.</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">On October 7, 2024, Nasdaq Rule 5815 was amended, companies failing to complete a business combination within 36 months, as required by Rule IM 5101-2(b), will face immediate suspension and delisting after receiving a Nasdaq determination letter. </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"><b>Liquidity and Going Concern</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">As of September 30, 2024, the Company had $533 in cash and a working capital deficit of $4,483,517. Prior to the completion of the Company’s IPO, the Company’s liquidity needs had been satisfied through a capital contribution from the Sponsor of $25,000 for the founder shares to cover certain of the offering costs and the loan under an unsecured promissory note from the Sponsor of $204,841, which was fully paid upon the IPO. Subsequent to the consummation of the Initial Public Offering and Private Placement, the Company’s liquidity needs have been satisfied through the proceeds from the consummation of the Private Placement not held in the Trust Account, and the drawdowns on the convertible promissory note.<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"> </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">In order to finance transaction costs in connection with an intended Business Combination, the initial stockholders or an affiliate of the initial stockholders or certain of the Company’s officers and directors may, but are not obligated to, provide the Company Working Capital Loans (see Note 5).</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">On April 27, 2023, the Company signed a Convertible Working Capital Promissory Note (“the Note”) with the Sponsor for $1,200,000. The Note is non-interest bearing and is due the earlier of the consummation of a business combination or the date of liquidation. The Sponsor may elect to convert all or any portion of the unpaid principal balance of this Note into warrants, at a price of $1.00 per warrant.</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">On January 10, 2024, the Company’s Board of Directors approved, and the Company amended the Note to increase the principal amount of the Note that could be drawn on to $1.5 million. The amended and restated Note also allows for the conversion of the outstanding principal balance of the Note to be repaid in shares of Company common stock at a price of $2.22 per share at the election of the sponsor.</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">On May 31, 2024, the Company’s Board of Directors approved, and the Company second amended its Convertible Working Capital Promissory Note with the sponsor to increase the principal amount of the Note that could be drawn on to $2.5 million. The second amended and restated Note also allows for the conversion of the outstanding principal balance of the Note to be repaid in shares of Company common stock at a price of $2.22 per share at the election of the sponsor.</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 Company had principal outstanding of $1,909,796 and is presenting the Note at fair value on its balance sheet at September 30, 2024 in the amount of $1,591,380.</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 Company has until March 22, 2025 to consummate a Business Combination. It is uncertain that the Company will be able to consummate a Business Combination by March 22, 2025. If a Business Combination is not consummated by the required date, there will be an option to either extend the time available for us to consummate our initial business combination or execute a mandatory liquidation and subsequent dissolution. In connection with the Company’s assessment of going concern considerations in accordance with the authoritative guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2014-15, “Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern,” management has determined that mandatory liquidation, and subsequent dissolution, should the Company be unable to complete a business combination, raises substantial doubt about the Company’s ability to continue as a going concern for the next twelve months from the issuance of these condensed consolidated financial statements. No adjustments have been made to the carrying amounts of assets and liabilities should the Company be required to liquidate after March 22, 2025.</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"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Risks and Uncertainties</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">On August 16, 2022, the Inflation Reduction Act of 2022 (the “IR Act”) was signed into federal law. The IR Act provides for, among other things, a new U.S. federal 1% excise tax on certain repurchases of stock occurring on or after January 1, 2023, by publicly traded U.S. domestic corporations, by certain U.S. domestic subsidiaries of publicly traded foreign corporations, by “covered surrogate foreign corporations” (as defined in the IR Act) and by certain affiliates of the foregoing. The excise tax is imposed on the repurchasing corporation itself, not its stockholders from which shares are repurchased. The amount of the excise tax is generally 1% of the fair market value of the shares repurchased at the time of the repurchase. However, for purposes of calculating the excise tax, repurchasing corporations are permitted to net the fair market value of certain new stock issuances against the fair market value of stock repurchases during the same taxable year. In addition, certain exceptions apply to the excise tax.</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">Any redemption or other repurchase that occurs after December 31, 2022, in connection with a Business Combination, extension vote or otherwise, may be subject to the excise tax. Whether and to what extent the Company would be subject to the excise tax in connection with a Business Combination, extension vote or otherwise would depend on a number of factors, including (i) the fair market value of the redemptions and repurchases in connection with the Business Combination, extension or otherwise, (ii) the structure of a Business Combination, (iii) the nature and amount of any “PIPE” or other equity issuances in connection with a Business Combination (or otherwise issued not in connection with a Business Combination but issued within the same taxable year of a Business Combination) and (iv) the content of regulations and other guidance from the Treasury. The foregoing could cause a reduction in the cash available on hand to complete a Business Combination and in the Company’s ability to complete a Business Combination.</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">On March 22, 2023 and December 21, 2023, the Company’s stockholders redeemed 18,000,868 and 140,663 shares, respectively, for a total of $184,845,836 and $1,565,078, respectively. On March 26, 2024, the Company’s stockholders redeemed 95,394 shares for a total of $1,088,361. On September 30, 2024, the Company’s stockholders redeemed 50,556 shares for a total of $595,439. The Company determined that an excise tax liability should be recorded due to the redeemed shares. As of September 30, 2024, the Company has a charge to stockholders’ deficit of $1,880,944 of excise tax liability, including $16,838 charged during the nine months ended September 30, 2024, calculated as 1% of the value of shares redeemed.</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">On April 12, 2024, the Treasury released Proposed Regulations on the Excise Tax On Repurchase of Corporate Stock. In the Proposed Regulations the Treasury declined to adopt special rules for Special Purpose Acquisition Corporations. The Proposed Regulations do not exempt redemptions of stock pursuant to a mandatory redemption right or a unilateral holder put option. The Proposed Regulations clarify that a distribution pursuant to a plan of complete Liquidation is not a repurchase and thus generally not subject to the stock repurchase excise tax.</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">On July 3, 2024, the Treasury issued final regulations with respect to the procedure and administration of the Excise Tax. These regulations provided that the filing and payment deadline for any liability incurred during the period from January 1, 2023 to December 31, 2023 would be October 31, 2024. As of September 30, 2024 and the date of this report, the excise tax was not paid and recorded as excise tax payable. The Company is currently evaluating its options with respect to this obligation, and it is planning to seek a postponement of the 2023 Excise tax payment and return filing deadline to February 3, 2025 based on the Hurricane Beryl relief announced in TX-2024-08. Any amount of such Excise Tax not paid in full, could be subject to additional interest and penalties which are currently estimated at 10% interest per annum and a 5% underpayment penalty per month or portion of a month up to 25% of the total liability for any amount that is unpaid.</span></p> | ||
CY2024Q3 | nvac |
Transaction Cost
TransactionCost
|
7959726 | usd |
CY2024Q3 | nvac |
Underwriting Discount Amount
UnderwritingDiscountAmount
|
3450000 | usd |
nvac |
Representative Shares Cost
RepresentativeSharesCost
|
3570576 | usd | |
nvac |
Representative Warrant Cost
RepresentativeWarrantCost
|
259527 | usd | |
nvac |
Other Offering Costs
OtherOfferingCosts
|
679623 | usd | |
nvac |
Percentage Of Aggregate Fair Market Value Of Asset
PercentageOfAggregateFairMarketValueOfAsset
|
0.80 | pure | |
nvac |
Business Acquisition Percentage Of Voting Interests To Be Acquired On Post Transaction Entity Minimum
BusinessAcquisitionPercentageOfVotingInterestsToBeAcquiredOnPostTransactionEntityMinimum
|
0.50 | pure | |
CY2021Q4 | nvac |
Maturity Days
MaturityDays
|
P185D | |
CY2021Q4 | nvac |
Percentage Obligation To Redeem Public Shares If Entity Does Not Complete Business Combination
PercentageObligationToRedeemPublicSharesIfEntityDoesNotCompleteBusinessCombination
|
1 | pure |
nvac |
Paymentof Interestto Distribution Expense
PaymentofInteresttoDistributionExpense
|
100000 | usd | |
CY2024Q1 | us-gaap |
Payments For Repurchase Of Initial Public Offering
PaymentsForRepurchaseOfInitialPublicOffering
|
1565078 | usd |
CY2024Q1 | nvac |
Working Capital
WorkingCapital
|
1500000 | usd |
CY2024Q1 | us-gaap |
Sale Of Stock Price Per Share
SaleOfStockPricePerShare
|
2.22 | |
CY2024Q1 | nvac |
Percentage Obligation To Redeem Public Shares If Entity Does Not Complete Business Combination
PercentageObligationToRedeemPublicSharesIfEntityDoesNotCompleteBusinessCombination
|
1 | pure |
us-gaap |
Noncash Contribution Expense
NoncashContributionExpense
|
36904 | usd | |
CY2024Q2 | us-gaap |
Deposits
Deposits
|
36904 | usd |
CY2024Q2 | us-gaap |
Deposits
Deposits
|
36904 | usd |
CY2024Q3 | us-gaap |
Deposits
Deposits
|
110714 | usd |
CY2024Q3 | us-gaap |
Interest Income Other
InterestIncomeOther
|
1400 | usd |
CY2024Q3 | us-gaap |
Temporary Equity Shares Issued
TemporaryEquitySharesIssued
|
687519 | shares |
CY2024Q3 | us-gaap |
Noncash Contribution Expense
NoncashContributionExpense
|
34376 | usd |
CY2024Q4 | us-gaap |
Deposits
Deposits
|
34376 | usd |
nvac |
Condition For Future Business Combination Threshold Net Tangible Assets
ConditionForFutureBusinessCombinationThresholdNetTangibleAssets
|
5000001 | usd | |
CY2024Q1 | us-gaap |
Stockholders Equity Other
StockholdersEquityOther
|
15000000 | usd |
CY2024Q3 | nvac |
Number Of Consecutive Business Days
NumberOfConsecutiveBusinessDays
|
P10D | |
CY2024Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
533 | usd |
CY2024Q3 | nvac |
Working Capital Deficit
WorkingCapitalDeficit
|
4483517 | usd |
us-gaap |
Partners Capital Account Contributions
PartnersCapitalAccountContributions
|
25000 | usd | |
nvac |
Unsecured Promissory Note
UnsecuredPromissoryNote
|
204841 | usd | |
CY2023Q2 | us-gaap |
Warrant Exercise Price Increase
WarrantExercisePriceIncrease
|
1 | |
CY2024Q1 | us-gaap |
Investment Owned Balance Principal Amount
InvestmentOwnedBalancePrincipalAmount
|
1500000 | usd |
CY2024Q1 | us-gaap |
Sale Of Stock Price Per Share
SaleOfStockPricePerShare
|
2.22 | |
CY2024Q2 | us-gaap |
Investment Owned Balance Principal Amount
InvestmentOwnedBalancePrincipalAmount
|
2500000 | usd |
CY2024Q2 | us-gaap |
Sale Of Stock Price Per Share
SaleOfStockPricePerShare
|
2.22 | |
nvac |
Outstanding Principal Amount
OutstandingPrincipalAmount
|
1909796 | usd | |
CY2022Q3 | us-gaap |
Effective Income Tax Rate Reconciliation Tax Credits Other
EffectiveIncomeTaxRateReconciliationTaxCreditsOther
|
0.01 | pure |
CY2023Q1 | nvac |
Redemption Amount
RedemptionAmount
|
184845836 | usd |
CY2023Q4 | nvac |
Redemption Amount
RedemptionAmount
|
1565078 | usd |
CY2024Q1 | nvac |
Redemption Amount
RedemptionAmount
|
1088361 | usd |
us-gaap |
Stock Redeemed Or Called During Period Shares
StockRedeemedOrCalledDuringPeriodShares
|
50556 | shares | |
nvac |
Redemption Amount
RedemptionAmount
|
595439 | usd | |
CY2024Q3 | us-gaap |
Sales And Excise Tax Payable Current And Noncurrent
SalesAndExciseTaxPayableCurrentAndNoncurrent
|
1880944 | usd |
us-gaap |
Excise And Sales Taxes
ExciseAndSalesTaxes
|
16838 | usd | |
nvac |
Shares Redeemed Percentage
SharesRedeemedPercentage
|
0.01 | pure | |
nvac |
Estimated Interest Rate
EstimatedInterestRate
|
0.10 | pure | |
nvac |
Underpayment Penalty Rate
UnderpaymentPenaltyRate
|
0.05 | pure | |
nvac |
Unpaid Total Liability Rate
UnpaidTotalLiabilityRate
|
0.25 | pure | |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Use of Estimates</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">The preparation of these condensed consolidated 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 condensed consolidated financial statements.</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 condensed consolidated financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Some of the more significant estimates are in connection with determining the fair value of the warrant liabilities and convertible promissory note. Accordingly, the actual results could differ significantly from those estimates.</span></p> | ||
us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Concentration of Credit Risk</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">Financial instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed the Federal Depository Insurance Coverage of $250,000. The Company has not experienced losses on this account.</span></p> | ||
CY2024Q3 | us-gaap |
Cash Fdic Insured Amount
CashFDICInsuredAmount
|
250000 | usd |
us-gaap |
Interest Income Securities Taxable
InterestIncomeSecuritiesTaxable
|
204459 | usd | |
us-gaap |
Interest Income Securities Taxable
InterestIncomeSecuritiesTaxable
|
1171438 | usd | |
CY2024Q1 | us-gaap |
Payable Common Stock Redeemed
PayableCommonStockRedeemed
|
1565078 | usd |
CY2024Q3 | us-gaap |
Redeemable Noncontrolling Interest Equity Common Carrying Amount
RedeemableNoncontrollingInterestEquityCommonCarryingAmount
|
595439 | usd |
CY2024Q3 | us-gaap |
Assets Held In Trust Current
AssetsHeldInTrustCurrent
|
595439 | usd |
CY2024Q3 | us-gaap |
Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
|
-0.1762 | pure |
CY2023Q3 | us-gaap |
Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
|
-0.0746 | pure |
us-gaap |
Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
|
-0.0602 | pure | |
us-gaap |
Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
|
0.3174 | pure | |
CY2024Q3 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.21 | pure |
CY2023Q3 | 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 | |
us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.21 | pure | |
CY2024Q3 | us-gaap |
Income Tax Examination Penalties And Interest Expense
IncomeTaxExaminationPenaltiesAndInterestExpense
|
0 | usd |
us-gaap |
Income Tax Examination Penalties And Interest Expense
IncomeTaxExaminationPenaltiesAndInterestExpense
|
0 | usd | |
CY2023Q3 | us-gaap |
Income Tax Examination Penalties And Interest Expense
IncomeTaxExaminationPenaltiesAndInterestExpense
|
0 | usd |
us-gaap |
Income Tax Examination Penalties And Interest Expense
IncomeTaxExaminationPenaltiesAndInterestExpense
|
19158 | usd | |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
17404250 | shares | |
CY2022Q4 | us-gaap |
Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
|
193525484 | usd |
CY2023 | us-gaap |
Redemption Premium
RedemptionPremium
|
186410914 | usd |
CY2023Q4 | us-gaap |
Temporary Equity Aggregate Amount Of Redemption Requirement
TemporaryEquityAggregateAmountOfRedemptionRequirement
|
2137638 | usd |
CY2023Q4 | us-gaap |
Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
|
9252208 | usd |
us-gaap |
Redemption Premium
RedemptionPremium
|
1683800 | usd | |
CY2024Q3 | us-gaap |
Temporary Equity Aggregate Amount Of Redemption Requirement
TemporaryEquityAggregateAmountOfRedemptionRequirement
|
572527 | usd |
CY2024Q3 | us-gaap |
Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
|
8140935 | usd |
CY2021Q4 | us-gaap |
Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight
|
1 | shares |
nvac |
Equity Proceed Ownership Percentage
EquityProceedOwnershipPercentage
|
0.60 | pure | |
nvac |
Price Threshold Of Newly Issued Stock To Cause Adjustment Of Exercise Warrant Price
PriceThresholdOfNewlyIssuedStockToCauseAdjustmentOfExerciseWarrantPrice
|
9.2 | ||
CY2024Q3 | nvac |
Percentage Of Warrant Exercise Price Adjusted To Price Received In New Issuance
PercentageOfWarrantExercisePriceAdjustedToPriceReceivedInNewIssuance
|
1.15 | pure |
nvac |
Class Of Warrant Or Right Trigger Share Price Of Warrants Or Rights For Redemption
ClassOfWarrantOrRightTriggerSharePriceOfWarrantsOrRightsForRedemption
|
18 | ||
CY2024Q3 | us-gaap |
Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
|
P5Y | |
nvac |
Redemption Price Per Warrant
RedemptionPricePerWarrant
|
0.01 | ||
nvac |
Number Of Days For Written Notice Of Redemption
NumberOfDaysForWrittenNoticeOfRedemption
|
P30D | ||
nvac |
Minimum Threshold Price Of Common Stock Specified To Send Notice Of Redemption To The Warrant Holders
MinimumThresholdPriceOfCommonStockSpecifiedToSendNoticeOfRedemptionToTheWarrantHolders
|
18 | ||
nvac |
Common Stock Threshold Trading Days
CommonStockThresholdTradingDays
|
P20D | ||
nvac |
Common Stock Threshold Consecutive Trading Days
CommonStockThresholdConsecutiveTradingDays
|
P30D | ||
CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
862500 | shares |
nvac |
Common Stock Exceeds Per Share
CommonStockExceedsPerShare
|
12 | ||
CY2024Q1 | us-gaap |
Investment Owned Balance Principal Amount
InvestmentOwnedBalancePrincipalAmount
|
1500000 | usd |
CY2024Q1 | us-gaap |
Sale Of Stock Price Per Share
SaleOfStockPricePerShare
|
2.22 | |
CY2024Q2 | us-gaap |
Investment Owned Balance Principal Amount
InvestmentOwnedBalancePrincipalAmount
|
2500000 | usd |
CY2024Q2 | us-gaap |
Sale Of Stock Price Per Share
SaleOfStockPricePerShare
|
2.22 | |
CY2024Q3 | us-gaap |
Notes Payable
NotesPayable
|
1909796 | usd |
CY2024Q3 | us-gaap |
Convertible Debt Current
ConvertibleDebtCurrent
|
1500000 | usd |
CY2024Q3 | us-gaap |
Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
|
0 | usd |
us-gaap |
Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
|
0 | usd | |
CY2023Q3 | us-gaap |
Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
|
0 | usd |
us-gaap |
Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
|
30000 | usd | |
nvac |
Related Party Transaction Expenses From Transaction With Related Party
RelatedPartyTransactionExpensesFromTransactionWithRelatedParty
|
50000 | usd | |
CY2023 | nvac |
Related Party Transaction Expenses From Transaction With Related Party
RelatedPartyTransactionExpensesFromTransactionWithRelatedParty
|
50000 | usd |
nvac |
Number Of Days For Underwriter Options
NumberOfDaysForUnderwriterOptions
|
P30D | ||
CY2024Q3 | nvac |
Underwriting Discount Amount
UnderwritingDiscountAmount
|
3450000 | usd |
CY2024Q3 | nvac |
Initial Public Offering Gross Proceed Percentage
InitialPublicOfferingGrossProceedPercentage
|
0.0368 | pure |
CY2022Q4 | nvac |
Business Combination Percentage Rate
BusinessCombinationPercentageRate
|
0.0368 | pure |
CY2022Q4 | nvac |
Cash Percentage
CashPercentage
|
0.275 | pure |
CY2022Q4 | nvac |
Equity Percentage
EquityPercentage
|
0.725 | pure |
CY2024Q3 | us-gaap |
Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
|
P5Y | |
nvac |
Lockup Period
LockupPeriod
|
P180D | ||
us-gaap |
Stockholders Equity Other
StockholdersEquityOther
|
155000000 | usd | |
us-gaap |
Dividends Common Stock
DividendsCommonStock
|
155000000 | usd | |
CY2023Q3 | us-gaap |
Payments For Merger Related Costs
PaymentsForMergerRelatedCosts
|
25000 | usd |
CY2023Q3 | us-gaap |
Payments For Merger Related Costs
PaymentsForMergerRelatedCosts
|
25000 | usd |
CY2024Q1 | us-gaap |
Revenue Recognition Milestone Method Revenue Recognized
RevenueRecognitionMilestoneMethodRevenueRecognized
|
11864000 | usd |
CY2024Q1 | us-gaap |
Common Stock Shares Subscribed But Unissued
CommonStockSharesSubscribedButUnissued
|
2500000 | shares |
CY2024Q3 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | shares |
CY2024Q3 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2024Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
100000000 | shares |
CY2024Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
CY2024Q3 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
5193750 | shares |
CY2023Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
5193750 | shares |
CY2023Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
5193750 | shares |
CY2024Q3 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
5193750 | shares |
CY2024Q3 | us-gaap |
Temporary Equity Shares Issued
TemporaryEquitySharesIssued
|
687519 | shares |
CY2023Q4 | us-gaap |
Temporary Equity Shares Issued
TemporaryEquitySharesIssued
|
833469 | shares |
us-gaap |
Common Stock Voting Rights
CommonStockVotingRights
|
one | ||
CY2024Q3 | us-gaap |
Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
|
2244039 | usd |
CY2023Q4 | us-gaap |
Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
|
1100757 | usd |
CY2024Q3 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
CY2024Q3 | ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | |
CY2024Q3 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false | |
CY2024Q3 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false | |
CY2023Q4 | us-gaap |
Prepaid Taxes
PrepaidTaxes
|
usd | |
CY2023Q4 | nvac |
Advance From Profusa
AdvanceFromProfusa
|
usd | |
CY2024Q3 | us-gaap |
Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
|
usd | |
CY2024Q3 | us-gaap |
Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
|
usd | |
us-gaap |
Increase Decrease In Prepaid Taxes
IncreaseDecreaseInPrepaidTaxes
|
usd | ||
us-gaap |
Increase Decrease In Due To Related Parties Current
IncreaseDecreaseInDueToRelatedPartiesCurrent
|
usd | ||
us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
usd | ||
nvac |
Reclassification Of Common Stock Subject To Redemption To Common Stock To Be Redeemed
ReclassificationOfCommonStockSubjectToRedemptionToCommonStockToBeRedeemed
|
usd | ||
CY2024Q3 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
shares | |
CY2024Q3 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
shares | |
CY2023Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
shares | |
CY2023Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
shares | |
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
|
0001859807 |