$SDST
Stardust Power Inc.

2022 Q2 Form 10-Q Financial Statement

#000121390022046400 Filed on August 10, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1 2021 Q4
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $329.0K $191.0K $256.0K
YoY Change -84.57% -13.18%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $329.0K $191.0K $256.0K
YoY Change -84.57% -13.18%
Operating Profit -$329.0K -$191.0K
YoY Change -84.57%
Interest Expense $454.0K $25.00K $7.000K
YoY Change 2926.67% -50.0%
% of Operating Profit
Other Income/Expense, Net $3.269M $6.849M $779.0K
YoY Change 1995.51% 42.69%
Pretax Income $3.394M $6.683M $530.0K
YoY Change -273.07% 44.34%
Income Tax
% Of Pretax Income
Net Earnings $3.394M $6.683M $530.0K
YoY Change -273.07% 44.34%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share $90.00K $178.2K $12.27K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q2 2022 Q1 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $389.0K $528.0K $842.0K
YoY Change -69.15% -62.29%
Cash & Equivalents $389.0K $528.0K $842.0K
Short-Term Investments
Other Short-Term Assets $130.0K $191.0K $183.0K
YoY Change -59.75% -52.25%
Inventory
Prepaid Expenses $130.0K $183.0K
Receivables
Other Receivables
Total Short-Term Assets $519.0K $719.0K $1.025M
YoY Change -67.23% -60.06%
LONG-TERM ASSETS
Property, Plant & Equipment $5.000M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $300.6M $300.1M $300.1M
YoY Change 0.16% 0.03%
Other Assets
YoY Change
Total Long-Term Assets $300.6M $300.1M $300.1M
YoY Change 0.16% 0.03%
TOTAL ASSETS
Total Short-Term Assets $519.0K $719.0K $1.025M
Total Long-Term Assets $300.6M $300.1M $300.1M
Total Assets $301.1M $300.8M $301.1M
YoY Change -0.19% -0.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $16.00K $26.00K $135.0K
YoY Change -85.59%
Accrued Expenses $2.806M $2.668M $2.673M
YoY Change 39.74% 1234.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.822M $2.694M $2.808M
YoY Change 33.18% 1247.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $13.30M $16.57M $23.42M
YoY Change -50.16% -38.17%
Total Long-Term Liabilities $13.30M $16.57M $23.42M
YoY Change -50.16% -38.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.822M $2.694M $2.808M
Total Long-Term Liabilities $13.30M $16.57M $23.42M
Total Liabilities $16.12M $19.27M $26.23M
YoY Change -44.03% -28.65%
SHAREHOLDERS EQUITY
Retained Earnings -$15.61M -$25.13M
YoY Change
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$15.61M -$18.45M -$25.13M
YoY Change
Total Liabilities & Shareholders Equity $301.1M $300.8M $301.1M
YoY Change -0.19% -0.32%

Cashflow Statement

Concept 2022 Q2 2022 Q1 2021 Q4
OPERATING ACTIVITIES
Net Income $3.394M $6.683M $530.0K
YoY Change -273.07% 44.34%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$139.0K -$314.0K -$127.0K
YoY Change -4.14% -34.58%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 0.000 0.000
YoY Change -100.0% -100.0%
NET CHANGE
Cash From Operating Activities -139.0K -314.0K -127.0K
Cash From Investing Activities 0.000 0.000 0.000
Cash From Financing Activities 0.000 0.000 0.000
Net Change In Cash -139.0K -314.0K -127.0K
YoY Change -6.71% -122.59%
FREE CASH FLOW
Cash From Operating Activities -$139.0K -$314.0K -$127.0K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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DocumentType
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dei Document Quarterly Report
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dei Document Period End Date
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2022-06-30
dei Document Fiscal Year Focus
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dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-39875
dei Entity Registrant Name
EntityRegistrantName
GLOBAL PARTNER ACQUISITION CORP II
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
E9
dei Entity Address Address Line1
EntityAddressAddressLine1
7 Rye Ridge Plaza
dei Entity Address Address Line2
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dei City Area Code
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dei Local Phone Number
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793-1965
dei Security12b Title
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Class A ordinary shares
dei Trading Symbol
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dei Security Exchange Name
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gpac Description Of Business Combination
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The Company will have 24 months from the closing date of the Public Offering (until January 14, 2023) to complete its Initial Business Combination or until the end of any extension period that may be proposed to and approved by the Company’s shareholders in the form of an amendment to the Company’s amended and restated memorandum and articles of association (the “Combination Period”). If the Company does not complete a Business Combination within this period of time, it shall (i) cease all operations except for the purposes of winding up; (ii) as promptly as reasonably possible, but not more than ten business days thereafter, redeem the public Class A ordinary shares for a per share pro rata portion of the Trust Account, including interest earned on funds held in the trust account and not previously released to pay income taxes (less up to $100,000 of such net interest to pay dissolution expenses) and (iii) as promptly as possible following such redemption, dissolve and liquidate the balance of the Company’s net assets to its creditors and remaining shareholders, as part of its plan of dissolution and liquidation. The initial shareholders have entered into letter agreements with us, pursuant to which they have waived their rights to participate in any redemption with respect to their Founders Shares; however, if the initial shareholders or any of the Company’s officers, directors or affiliates acquire Class A ordinary shares in or after the Public Offering, they will be entitled to a pro rata share of the Trust Account upon the Company’s redemption or liquidation in the event the Company does not complete a Business Combination within the Combination Period. 
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5566667 shares
CY2021Q2 us-gaap Results Of Operations Dry Hole Costs
ResultsOfOperationsDryHoleCosts
800000 usd
CY2022Q2 gpac Warrant Liability
WarrantLiability
2802000 usd
CY2021Q4 gpac Warrant Liability
WarrantLiability
12920000 usd
gpac Schedule Of Changes In The Fair Value Of The Level3 Warrant Liabilities
ScheduleOfChangesInTheFairValueOfTheLevel3WarrantLiabilities
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Public</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Private<br/> Placement</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Warrant<br/> Liabilities</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Fair value measurement on December 31, 2020</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-73">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-74">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-75">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="width: 64%; text-align: left">Fair value at inception of the warrants on January 14, 2021</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">14,100,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">7,849,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">21,949,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Change in fair value</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(3,700,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,060,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(5,760,000</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt">Fair value as of June 30, 2021</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">10,400,000</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">5,789,000</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">16,189,000</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
CY2022Q2 us-gaap Fair Value Concentration Of Risk Federal Funds Sold And Securities Borrowed Or Purchased Under Agreements To Resell
FairValueConcentrationOfRiskFederalFundsSoldAndSecuritiesBorrowedOrPurchasedUnderAgreementsToResell
300000000 usd
gpac Us Government Treasury Bills Maturity
USGovernmentTreasuryBillsMaturity
P180D
gpac Common Stock In Total
CommonStockInTotal
550000000 shares
CY2022Q1 us-gaap Business Combination Control Obtained Description
BusinessCombinationControlObtainedDescription
The Founder Shares are subject to vesting as follows: 50% upon the completion of a Business Combination and then an additional 12.5% on the attainment of each of a series of certain “shareholder return” targets exceeding 20%, 30%, 40% and 50%, as further defined in the agreement. Certain events, as defined in the agreement, could trigger an immediate vesting under certain circumstances. Founder Shares that do not vest within an eight-year period from the closing of the Business Combination will be cancelled. 
CY2022Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2022Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q2 us-gaap Common Stock Value
CommonStockValue
usd
CY2022Q2 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
usd
CY2021Q2 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
usd
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
usd
gpac Cost Of Issuing Warrants
CostOfIssuingWarrants
usd
us-gaap Payments To Acquire Assets Investing Activities
PaymentsToAcquireAssetsInvestingActivities
usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
usd
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
usd
gpac Payment Of Underwriting Discounts
PaymentOfUnderwritingDiscounts
usd
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
usd
gpac Deferred Underwriter Compensation
DeferredUnderwriterCompensation
usd
gpac Offering Costs Included In Offering Costs Payable And Accrued
OfferingCostsIncludedInOfferingCostsPayableAndAccrued
usd
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Central Index Key
EntityCentralIndexKey
0001831979

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