$QTI
QT IMAGING HOLDINGS, INC.

2021 Q3 Form 10-Q Financial Statement

#000156459021057002 Filed on November 15, 2021

View on sec.gov

Income Statement

Concept 2021 Q3
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $143.0K
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $143.0K
YoY Change
Operating Profit -$143.0K
YoY Change
Interest Expense $130.00
YoY Change
% of Operating Profit
Other Income/Expense, Net -$61.35K
YoY Change
Pretax Income -$204.2K
YoY Change
Income Tax $38.00
% Of Pretax Income
Net Earnings -$204.2K
YoY Change
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$6.913K
COMMON SHARES
Basic Shares Outstanding 9.699M
Diluted Shares Outstanding 9.699M

Balance Sheet

Concept 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.052M
YoY Change
Cash & Equivalents $2.052M
Short-Term Investments
Other Short-Term Assets $725.4K
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $2.777M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $232.3M
YoY Change
Other Assets $346.6K
YoY Change
Total Long-Term Assets $232.6M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $2.777M
Total Long-Term Assets $232.6M
Total Assets $235.4M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.227M
YoY Change
Accrued Expenses $290.8K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $8.550K
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.526M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $9.644M
YoY Change
Total Long-Term Liabilities $9.644M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.526M
Total Long-Term Liabilities $9.644M
Total Liabilities $11.17M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$8.047M
YoY Change
Common Stock $655.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$8.046M
YoY Change
Total Liabilities & Shareholders Equity $235.4M
YoY Change

Cashflow Statement

Concept 2021 Q3
OPERATING ACTIVITIES
Net Income -$204.2K
YoY Change
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$25.80K
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$232.3M
YoY Change
Cash From Investing Activities -$232.3M
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $225.4M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 234.4M
YoY Change
NET CHANGE
Cash From Operating Activities -25.80K
Cash From Investing Activities -232.3M
Cash From Financing Activities 234.4M
Net Change In Cash 2.052M
YoY Change
FREE CASH FLOW
Cash From Operating Activities -$25.80K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2021Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
725400
CY2021Q3 us-gaap Assets Current
AssetsCurrent
2777097
CY2021Q3 us-gaap Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
232300000
CY2021Q3 gia Interest Receivable On Cash And Marketable Securities Held In Trust Account
InterestReceivableOnCashAndMarketableSecuritiesHeldInTrustAccount
127
CY2021Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
346580
CY2021Q3 us-gaap Assets
Assets
235423804
CY2021Q3 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
8552
CY2021Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
290786
CY2021Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
38
CY2021Q3 us-gaap Liabilities Current
LiabilitiesCurrent
1525975
CY2021Q3 gia Warrant Liability Noncurrent
WarrantLiabilityNoncurrent
444119
CY2021Q3 gia Deferred Underwriting Fee Payable Non Current
DeferredUnderwritingFeePayableNonCurrent
9200000
CY2021Q3 us-gaap Liabilities
Liabilities
11170094
CY2021Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2021Q3 us-gaap Temporary Equity Aggregate Amount Of Redemption Requirement
TemporaryEquityAggregateAmountOfRedemptionRequirement
232300089
CY2021Q3 us-gaap Preferred Stock Value
PreferredStockValue
CY2021Q3 us-gaap Common Stock Value
CommonStockValue
655
CY2021Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-8047034
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
-8046379
CY2021Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
235423804
CY2021Q3 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Maximum Number Of Shares
SharesSubjectToMandatoryRedemptionSettlementTermsMaximumNumberOfShares
23000000
CY2021Q3 us-gaap Temporary Equity Redemption Price Per Share
TemporaryEquityRedemptionPricePerShare
10.10
CY2021Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2021Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2021Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2021Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2021Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2021Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
6545000
CY2021Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
6545000
gia Fair Value Assumption Expected Term
FairValueAssumptionExpectedTerm
P6Y
us-gaap Profit Loss
ProfitLoss
-239977
CY2021Q3 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
61346
CY2021Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
142971
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
178720
us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
61346
CY2021Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
127
us-gaap Investment Income Interest
InvestmentIncomeInterest
127
CY2021Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-142971
CY2021Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-204190
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-239939
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
38
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
38
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-204228
us-gaap Net Income Loss
NetIncomeLoss
-239977
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
-10749
CY2021Q3 gia Issuance Of Common Stock To Consultant Value
IssuanceOfCommonStockToConsultantValue
95200
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
382773
CY2021Q3 gia Temporary Equity Shares Subject To Redemption Value
TemporaryEquitySharesSubjectToRedemptionValue
232300089
gia Issuance Of Common Stock To Consultant Value
IssuanceOfCommonStockToConsultantValue
95200
us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
382773
gia Temporary Equity Shares Subject To Redemption Value
TemporaryEquitySharesSubjectToRedemptionValue
232300089
us-gaap Operating Income Loss
OperatingIncomeLoss
-178720
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
61346
us-gaap Share Based Compensation
ShareBasedCompensation
95200
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
725400
us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
8552
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1107969
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
13180
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
38
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
346580
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-25799
us-gaap Payments To Acquire Trust Preferred Investments
PaymentsToAcquireTrustPreferredInvestments
232300000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-232300000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
25000
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
226850000
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
133465
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
133465
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
447504
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
234377496
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
2051697
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2051697
gia Offering Costs Included In Accounts Payable
OfferingCostsIncludedInAccountsPayable
118630
gia Offering Costs Included In Accrued Liabilities
OfferingCostsIncludedInAccruedLiabilities
277606
gia Fair Value Of Warrant Liability
FairValueOfWarrantLiability
382773
gia Deferred Underwriting Fee Payable
DeferredUnderwritingFeePayable
9200000
gia Change In Value Of Common Stock Subject To Possible Redemption
ChangeInValueOfCommonStockSubjectToPossibleRedemption
15493829
gia Deferred Underwriting Commissions Per Unit
DeferredUnderwritingCommissionsPerUnit
0.40
CY2021Q3 gia Fair Value Assumptions Volatility Rate
FairValueAssumptionsVolatilityRate
0.1000
CY2021Q3 gia Fair Value Assumption Risk Free Interest Rate
FairValueAssumptionRiskFreeInterestRate
0.0109
CY2021Q3 gia Fair Value Assumption Exercise Price
FairValueAssumptionExercisePrice
11.50
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Concentration of Credit Risk</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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 federally insured limits. The Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts.</p>
us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with GAAP requires the Company&#8217;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 the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p>
us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
13193740
gia Holding Period Of Shares For Completion Of Initial Business Combination
HoldingPeriodOfSharesForCompletionOfInitialBusinessCombination
P6M
gia Number Of Trading Period For Transfer Of Shares
NumberOfTradingPeriodForTransferOfShares
P20D
gia Number Of Consecutive Trading Period For Transfer Of Shares
NumberOfConsecutiveTradingPeriodForTransferOfShares
P30D
gia Period After Completion Of Business Combination To Allow Transfer Of Shares
PeriodAfterCompletionOfBusinessCombinationToAllowTransferOfShares
P30D
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2021-01-19
CY2021Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q3 gia Number Of Shares Of Common Stock Per Unit
NumberOfSharesOfCommonStockPerUnit
1
CY2021Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
11.50
CY2021Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
23000000
CY2021Q3 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
10.00
CY2021Q3 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
225400000
CY2021Q3 gia Payments Of Stock Issuance Costs Net
PaymentsOfStockIssuanceCostsNet
13193740
CY2021Q3 gia Deferred Underwriting Fees
DeferredUnderwritingFees
9200000
CY2021Q3 gia Original Offering Cost
OriginalOfferingCost
843740
CY2021Q3 gia Reimbursement Of Offering Expenses
ReimbursementOfOfferingExpenses
1450000
us-gaap Debt Instrument Maturity Date Description
DebtInstrumentMaturityDateDescription
U.S. government treasury bills with a maturity of one hundred and eighty-five (185) days or less
gia Public Shares Redemption Percentage
PublicSharesRedemptionPercentage
1.00
us-gaap Decommissioning Trust Assets Description
DecommissioningTrustAssetsDescription
The Company’s amended and restated certificate of incorporation provides that, other than the withdrawal of interest to pay taxes none of the funds held in the Trust Account will be released until the earlier of: (1) the completion of the Business Combination; (2) the redemption of 100% of the outstanding public shares if the Company has not completed an initial Business Combination within 12 months from the closing of the Offering (or up to 18 months in total if the Company extends the period of time to consummate its initial Business Combination up to six times by an additional one month each time; provided that at the beginning of each one-month extension, the Sponsor (or its designees) must deposit into the Trust Account funds equal to thirty-three hundredths of one percent (0.33%) of the gross proceeds of the Offering (including such proceeds from the exercise of the Underwriters’ over-allotment option, if exercised) for each one-month extension of the time period to complete the initial Business Combination, in each case, in exchange for a non-interest bearing, unsecured promissory note); or (3) the redemption of any public shares properly tendered in connection with a stockholder vote to amend the amended and restated certificate of incorporation (A) to modify the substance or timing of the Company’s obligation to redeem 100% of the Company’s public shares if the Company does not complete its initial Business Combination within the required time period or (B) with respect to any other provision relating to the Company’s pre-business combination activity and related stockholders’ rights.
gia Minimum Percentage Of Fair Market Value Of Business Acquisition To Trust Account Balance
MinimumPercentageOfFairMarketValueOfBusinessAcquisitionToTrustAccountBalance
0.80
us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
23000000
CY2021Q3 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
10.10
gia Common Stock Redemption Percentage
CommonStockRedemptionPercentage
0.15
CY2021Q3 gia Working Capital
WorkingCapital
1251122
gia Underwriting Discount Per Unit Paid In Cash
UnderwritingDiscountPerUnitPaidInCash
0.20
CY2021Q3 gia Deferred Underwriting Commissions Payable
DeferredUnderwritingCommissionsPayable
9200000
CY2021Q3 us-gaap Share Price
SharePrice
9.52
CY2021Q3 us-gaap Share Price
SharePrice
9.72
CY2021Q3 gia Fair Value Assumptions Volatility Rate
FairValueAssumptionsVolatilityRate
0.1000
CY2021Q3 gia Fair Value Assumption Risk Free Interest Rate
FairValueAssumptionRiskFreeInterestRate
0.0107
CY2021Q3 gia Fair Value Assumption Exercise Price
FairValueAssumptionExercisePrice
11.50
CY2021Q3 gia Fair Value Assumption Expected Term
FairValueAssumptionExpectedTerm
P6Y
CY2021Q3 us-gaap Interest Receivable Noncurrent
InterestReceivableNoncurrent
127

Files In Submission

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0001564590-21-057002.txt Edgar Link pending
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gia-10q_20210930.htm Edgar Link pending
gia-20210930.xml Edgar Link completed
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