$PMVC
PMV Consumer Acquisition Corp.

2023 Q1 Form 10-Q Financial Statement

#000121390023038513 Filed on May 11, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q1
Revenue $6.125M $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $100.2K $205.2K
YoY Change -51.19% 20.7%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $107.7K $255.2K
YoY Change -57.82% 16.0%
Operating Profit -$107.7K -$255.2K
YoY Change -57.81%
Interest Expense $9.480K $5.706M
YoY Change -99.83% -2953.05%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$98.17K $5.451M
YoY Change -101.8% -1397.83%
Income Tax $416.00 $0.00
% Of Pretax Income 0.0%
Net Earnings -$98.59K $5.451M
YoY Change -101.81% -1395.27%
Net Earnings / Revenue -1.61%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.02 $249.2K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.170M $1.288M
YoY Change -9.17% -24.21%
Cash & Equivalents $1.170M $1.288M
Short-Term Investments
Other Short-Term Assets $129.5K $68.34K
YoY Change 89.45% -65.83%
Inventory
Prepaid Expenses $129.5K
Receivables
Other Receivables
Total Short-Term Assets $1.300M $1.357M
YoY Change -4.2% -32.16%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $175.2M
YoY Change 0.03%
Other Assets
YoY Change
Total Long-Term Assets -$3.00 $175.2M
YoY Change -100.0% 0.09%
TOTAL ASSETS
Total Short-Term Assets $1.300M $1.357M
Total Long-Term Assets -$3.00 $175.2M
Total Assets $1.300M $176.5M
YoY Change -99.26% -0.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $489.5K $252.5K
YoY Change 93.84% 152.52%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $520.1K $252.5K
YoY Change 105.96% 152.52%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $149.0K $9.999M
YoY Change -98.51% -53.71%
Total Long-Term Liabilities $149.0K $9.999M
YoY Change -98.51% -53.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $520.1K $252.5K
Total Long-Term Liabilities $149.0K $9.999M
Total Liabilities $669.1K $10.25M
YoY Change -93.47% -52.76%
SHAREHOLDERS EQUITY
Retained Earnings -$402.3K
YoY Change
Common Stock $300.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $630.7K -$8.743M
YoY Change
Total Liabilities & Shareholders Equity $1.300M $176.5M
YoY Change -99.26% -0.28%

Cashflow Statement

Concept 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$98.59K $5.451M
YoY Change -101.81% -1395.27%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $21.13K -$224.1K
YoY Change -109.43% -13.8%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00
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 $21.13K -224.1K
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash $21.13K $0.00
YoY Change
FREE CASH FLOW
Cash From Operating Activities $21.13K -$224.1K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2023Q1 dei Entity File Number
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CY2023Q1 dei Entity Registrant Name
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PMV Consumer Acquisition Corp.
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EntityIncorporationStateCountryCode
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CY2023Q1 dei Entity Tax Identification Number
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At the Meeting, in connection with the extension, stockholders holding 15,453,391 shares of Class A common stock exercised their right to redeem such shares for a pro rata portion of the funds in the Trust Account. As a result, $154,874,303 (approximately $10.02 per share), which included $340,393 of interest earned on the Trust Account which was not previously used to pay the Company’s tax obligation, was removed from the Trust Account to pay such holders. Following these redemptions, the Company had 2,046,609 shares of Class A common stock outstanding and the aggregate amount remaining in the Trust Account at the time was $20,511,170. 
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i><span style="text-decoration:underline">Use of Estimates</span></i></b></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">The preparation of financial statements in conformity with GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of expenses during the reporting period.</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">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. One of the more significant accounting estimates included in these financial statements is the determination of the fair value of the warrant liabilities. Such estimates may be subject to change as more current information becomes available and accordingly the actual results could differ significantly from those estimates.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
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the Company effected a 1.4-for-1 forward stock split of its issued and outstanding shares of Class B convertible common stock, resulting in an aggregate of 5,031,250 Founder Shares being outstanding, of which an aggregate of up to 656,250 shares were subject to forfeiture by the Sponsor to the extent that the underwriters’ over-allotment option was not exercised in full or in part so that the Sponsor would own, on an as-converted basis, 20% of the Company’s issued and outstanding shares after the Initial Public Offering (assuming the Sponsor did not purchase any Public Shares in the Initial Public Offering).
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CY2022Q1 pmvc Warrant Liability Public Warrants
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CY2021Q4 pmvc Fair Value Of Warrant Liabilities
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3937845 usd
CY2022Q1 pmvc Change In Fair Value Recognized In Earnings
ChangeInFairValueRecognizedInEarnings
-2338845 usd
CY2022Q1 pmvc Fair Value Of Warrant Liabilities
FairValueOfWarrantLiabilities
1599000 usd
CY2022Q1 us-gaap Interest Income Other
InterestIncomeOther
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CY2023Q1 us-gaap Interest Income Securities Other Us Government
InterestIncomeSecuritiesOtherUSGovernment
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CY2023Q1 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
usd
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2023Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
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CY2023Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
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CY2022Q1 us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
usd
CY2022Q1 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
usd
CY2023Q1 us-gaap Deferred Costs And Other Assets
DeferredCostsAndOtherAssets
usd
CY2023Q1 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
usd
CY2022Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
usd
CY2023Q1 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
usd
CY2023Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
usd
CY2023Q1 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
usd
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
usd
CY2022Q1 us-gaap Current Federal State And Local Tax Expense Benefit
CurrentFederalStateAndLocalTaxExpenseBenefit
usd
CY2023Q1 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
usd
CY2022Q1 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
usd
CY2023Q1 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
usd
CY2022Q1 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
usd
CY2023Q1 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
usd
CY2022Q1 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
usd
CY2023Q1 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
usd
CY2022Q1 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
usd
CY2022Q1 us-gaap Other Tax Expense Benefit
OtherTaxExpenseBenefit
usd
CY2022Q1 pmvc Transfer Of Public Warrants To Level1
TransferOfPublicWarrantsToLevel1
usd
CY2023Q1 dei Amendment Flag
AmendmentFlag
false
CY2023Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2023Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1

Files In Submission

Name View Source Status
pmvc-20230331_lab.xml Edgar Link unprocessable
pmvc-20230331_def.xml Edgar Link unprocessable
0001213900-23-038513-index-headers.html Edgar Link pending
0001213900-23-038513-index.html Edgar Link pending
0001213900-23-038513.txt Edgar Link pending
0001213900-23-038513-xbrl.zip Edgar Link pending
f10q0323ex31-1_pmvconsumer.htm Edgar Link pending
f10q0323ex31-2_pmvconsumer.htm Edgar Link pending
f10q0323ex31-3_pmvconsumer.htm Edgar Link pending
f10q0323ex32-1_pmvconsumer.htm Edgar Link pending
f10q0323_pmvconsumer.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
f10q0323_pmvconsumer_htm.xml Edgar Link completed
pmvc-20230331.xsd Edgar Link pending
R1.htm Edgar Link pending
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report.css Edgar Link pending
Show.js Edgar Link pending
pmvc-20230331_cal.xml Edgar Link unprocessable
pmvc-20230331_pre.xml Edgar Link unprocessable