$RMNI
Rimini Street, Inc.

2016 Q2 Form 10-Q Financial Statement

#000114420417038359 Filed on July 26, 2017

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q1
Revenue $38.04M $0.00
YoY Change
Cost Of Revenue $16.27M
YoY Change
Gross Profit $21.76M
YoY Change
Gross Profit Margin 57.22%
Selling, General & Admin $28.56M $0.00
YoY Change
% of Gross Profit 131.24%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $28.56M $0.00
YoY Change
Operating Profit -$12.04M -$9.351K
YoY Change 36118.46%
Interest Expense $492.0K
YoY Change
% of Operating Profit
Other Income/Expense, Net -$447.0K
YoY Change
Pretax Income -$13.29M $0.00
YoY Change
Income Tax -$322.0K
% Of Pretax Income
Net Earnings -$13.61M -$9.351K
YoY Change -687423.23%
Net Earnings / Revenue -35.78%
Basic Earnings Per Share -$0.56
Diluted Earnings Per Share -$0.56 $0.00
COMMON SHARES
Basic Shares Outstanding 24.26M shares
Diluted Shares Outstanding 24.26M shares

Balance Sheet

Concept 2016 Q2 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $100.0K $100.0K
YoY Change -90.91%
Cash & Equivalents $132.3K $0.00
Short-Term Investments
Other Short-Term Assets $300.0K
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $400.0K $372.0K
YoY Change -64.66%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $172.9M $300.0K
YoY Change 0.23%
Total Long-Term Assets $172.9M $28.03K
YoY Change 0.21%
TOTAL ASSETS
Total Short-Term Assets $400.0K $372.0K
Total Long-Term Assets $172.9M $28.03K
Total Assets $173.3M $400.0K
YoY Change -0.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $900.0K
YoY Change
Accrued Expenses $8.000K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $7.400M $400.0K
YoY Change 23.33%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $7.400M $400.0K
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $7.400M $356.3K
YoY Change 22.36%
SHAREHOLDERS EQUITY
Retained Earnings -$9.351K
YoY Change
Common Stock $431.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares 562.5K shares
Shareholders Equity $165.9M $0.00
YoY Change
Total Liabilities & Shareholders Equity $173.3M $372.0K
YoY Change -0.21%

Cashflow Statement

Concept 2016 Q2 2015 Q1
OPERATING ACTIVITIES
Net Income -$13.61M -$9.351K
YoY Change -687423.23%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$1.120M $0.00
YoY Change 2140.0%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $25.00K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 390.0K 100.0K
YoY Change -99.78%
NET CHANGE
Cash From Operating Activities -1.120M 0.000
Cash From Investing Activities 0.000
Cash From Financing Activities 390.0K 100.0K
Net Change In Cash -730.0K 100.0K
YoY Change -172.28%
FREE CASH FLOW
Cash From Operating Activities -$1.120M $0.00
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
us-gaap Net Income Loss
NetIncomeLoss
-1550137 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
388047 USD
CY2016Q2 us-gaap Gain Loss On Sale Of Securities Net
GainLossOnSaleOfSecuritiesNet
-103291 USD
CY2017Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
5666429 shares
us-gaap Net Income Loss
NetIncomeLoss
-29414 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
61991 USD
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
23332 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-444950 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
451511 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-835125 USD
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
967449 USD
CY2016Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
132324 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
338339 USD
gpiau Change In Value Of Common Stock Subject To Possible Redemption
ChangeInValueOfCommonStockSubjectToPossibleRedemption
-29414 USD
gpiau Change In Value Of Common Stock Subject To Possible Redemption
ChangeInValueOfCommonStockSubjectToPossibleRedemption
1550137 USD
us-gaap Gain Loss On Sale Of Securities Net
GainLossOnSaleOfSecuritiesNet
2684 USD
us-gaap Gain Loss On Sale Of Securities Net
GainLossOnSaleOfSecuritiesNet
0 USD
gpiau Reclassification Of Related Party Advances To Related Party Promissory Notes
ReclassificationOfRelatedPartyAdvancesToRelatedPartyPromissoryNotes
635681 USD
gpiau Reclassification Of Related Party Advances To Related Party Promissory Notes
ReclassificationOfRelatedPartyAdvancesToRelatedPartyPromissoryNotes
0 USD
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2015-01-28
CY2015Q2 gpiau Common Units Issued In Initial Public Offering
CommonUnitsIssuedInInitialPublicOffering
17250000 shares
CY2015Q2 us-gaap Other Ownership Interests Offering Costs
OtherOwnershipInterestsOfferingCosts
10960590 USD
CY2015Q2 us-gaap Expense Related To Distribution Or Servicing And Underwriting Fees
ExpenseRelatedToDistributionOrServicingAndUnderwritingFees
4312500 USD
CY2015Q2 us-gaap Deferred Offering Costs
DeferredOfferingCosts
6037500 USD
CY2015Q2 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
172500000 USD
gpiau Reduction Of Intangible Assets Due To Redemption
ReductionOfIntangibleAssetsDueToRedemption
5000001 USD
gpiau Stock Redemption Restricted Percentage
StockRedemptionRestrictedPercentage
0.2 pure
gpiau Interest On Dissolution Expenses
InterestOnDissolutionExpenses
100000 USD
us-gaap Interest Income Other
InterestIncomeOther
1006000 USD
CY2017Q2 gpiau Cash Held Outside Of Trust Account
CashHeldOutsideOfTrustAccount
1551 USD
CY2017Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
3400000 USD
CY2017Q2 us-gaap Assets Held In Trust Current
AssetsHeldInTrustCurrent
157897989 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
14687500 shares
CY2017Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 USD
CY2015Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
562500 shares
CY2016Q4 us-gaap Due To Other Related Parties Classified Current
DueToOtherRelatedPartiesClassifiedCurrent
635681 USD
CY2017Q2 us-gaap Debt Instrument Unused Borrowing Capacity Amount
DebtInstrumentUnusedBorrowingCapacityAmount
3400000 USD
CY2017Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2017Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2017Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
400000000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
5658219 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
5372719 shares
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.01
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.29
us-gaap Proceeds From Decommissioning Fund
ProceedsFromDecommissioningFund
15608196 USD
us-gaap Proceeds From Decommissioning Fund
ProceedsFromDecommissioningFund
0 USD
CY2016Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
5649918 shares
us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
483609 USD
CY2016Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2016Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
400000000 shares
CY2017Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
5694413 shares
us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
1888476 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-483609 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-1888476 USD
CY2017Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
5649918 shares
CY2017Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2017Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
5694413 shares
CY2017Q2 us-gaap Common Stock Other Shares Outstanding
CommonStockOtherSharesOutstanding
14315363 shares
CY2017Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2016Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2017Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2016Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2016Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
15608196 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
0 USD
us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
0 USD
us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
388047 USD
us-gaap Use Of Estimates
UseOfEstimates
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><b><i><font style="FONT-SIZE: 10pt">Use of estimates</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 31.9pt; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 31.9pt; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future events. Accordingly, the actual results could differ significantly from those estimates.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><b><i><font style="FONT-SIZE: 10pt">Concentration of credit risk</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 27.5pt; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">&#160;</font></div> <font style="FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">Financial instruments that potentially subject the Company to concentration of credit risk consist of cash accounts in a financial institution which, at times may exceed the Federal depository insurance coverage of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">250,000</font>. At June 30, 2017, the Company had not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
15608196 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
CY2017Q2 us-gaap Treasury Stock Shares Retired
TreasuryStockSharesRetired
1552724 shares
CY2017Q2 us-gaap Treasury Stock Retired Cost Method Amount
TreasuryStockRetiredCostMethodAmount
15608196 USD
CY2017Q2 us-gaap Temporary Equity Redemption Price Per Share
TemporaryEquityRedemptionPricePerShare
10.05
CY2017Q2 us-gaap Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
157779604 USD
us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
775000000 USD
gpiau Business Combination Closing Condition Required
BusinessCombinationClosingConditionRequired
50000000 USD
gpiau Equity Financing From Sponsor
EquityFinancingFromSponsor
35000000 USD
CY2017Q2 us-gaap Business Acquisition Share Price
BusinessAcquisitionSharePrice
10.00
us-gaap Weighted Average Number Of Shares Contingently Issuable
WeightedAverageNumberOfSharesContingentlyIssuable
5500000 shares
gpiau Business Combination Right To Receive Cash Payment Description
BusinessCombinationRightToReceiveCashPaymentDescription
(a) the excess of $10 over the per share exercise price and (b) the number of shares of the Rimini Street&#8217;s common stock subject to the vested portion of such option.
CY2017Q2 us-gaap Administrative Fees Expense
AdministrativeFeesExpense
30000 USD
us-gaap Administrative Fees Expense
AdministrativeFeesExpense
60000 USD
us-gaap Administrative Fees Expense
AdministrativeFeesExpense
60000 USD
CY2016Q2 us-gaap Common Stock Other Shares Outstanding
CommonStockOtherSharesOutstanding
16055829 shares
CY2017Q2 gpiau Contingent Transaction Fee Amount
ContingentTransactionFeeAmount
3993000 USD
CY2015Q2 gpiau Underwriters Discount Percentage
UnderwritersDiscountPercentage
0.060 pure
CY2015Q2 gpiau Payments To Underwriters In Cash
PaymentsToUnderwritersInCash
4312500 USD
CY2015Q2 gpiau Underwriters Deferred Discount Amount
UnderwritersDeferredDiscountAmount
6037500 USD

Files In Submission

Name View Source Status
0001144204-17-038359-index-headers.html Edgar Link pending
0001144204-17-038359-index.html Edgar Link pending
0001144204-17-038359.txt Edgar Link pending
0001144204-17-038359-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
gpiau-20170630.xml Edgar Link completed
gpiau-20170630.xsd Edgar Link pending
gpiau-20170630_cal.xml Edgar Link unprocessable
gpiau-20170630_def.xml Edgar Link unprocessable
gpiau-20170630_lab.xml Edgar Link unprocessable
gpiau-20170630_pre.xml Edgar Link unprocessable
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R3.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
v470846_10q.htm Edgar Link pending
v470846_ex31.htm Edgar Link pending
v470846_ex32.htm Edgar Link pending