$SIMA
SIM Acquisition Corp. I

2024 Q3 Form 10-Q Financial Statement

#000121390024098417 Filed on November 14, 2024

View on sec.gov

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 -$270.2K
YoY Change
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $2.627M
YoY Change
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings $2.357M
YoY Change
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $860.1K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses $205.3K
Receivables
Other Receivables
Total Short-Term Assets $1.065M
YoY Change
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 $232.8M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $1.065M
Total Long-Term Assets $232.8M
Total Assets $233.9M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $9.500K
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $10.95M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $9.500K
Total Long-Term Liabilities $10.95M
Total Liabilities $10.96M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$9.615M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$9.614M
YoY Change
Total Liabilities & Shareholders Equity $233.9M
YoY Change

Cashflow Statement

Concept 2024 Q3
OPERATING ACTIVITIES
Net Income $2.357M
YoY Change
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
CY2024Q3 us-gaap Preferred Stock Value
PreferredStockValue
usd
CY2024Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
shares
CY2024Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
shares
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
usd
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
001-42164
dei Entity Registrant Name
EntityRegistrantName
SIM Acquisition Corp. I
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
E9
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
35-2838851
dei Entity Address Address Line1
EntityAddressAddressLine1
78 SW 7th Street
dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 500
dei Entity Address City Or Town
EntityAddressCityOrTown
Miami
dei Entity Address State Or Province
EntityAddressStateOrProvince
FL
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
33130
dei City Area Code
CityAreaCode
(786)
dei Local Phone Number
LocalPhoneNumber
753 9305
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
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
860086 usd
CY2024Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
205300 usd
CY2024Q3 us-gaap Assets Current
AssetsCurrent
1065386 usd
CY2024Q3 us-gaap Prepaid Expense Noncurrent
PrepaidExpenseNoncurrent
180000 usd
CY2024Q3 us-gaap Marketable Securities Noncurrent
MarketableSecuritiesNoncurrent
232627463 usd
CY2024Q3 us-gaap Assets
Assets
233872849 usd
CY2024Q3 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
9500 usd
CY2024Q3 us-gaap Liabilities Current
LiabilitiesCurrent
9500 usd
CY2024Q3 simau Deferred Underwriting Payable Noncurrent
DeferredUnderwritingPayableNoncurrent
10950000 usd
CY2024Q3 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
10950000 usd
CY2024Q3 us-gaap Liabilities
Liabilities
10959500 usd
CY2024Q3 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
23000000 shares
CY2024Q3 us-gaap Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
10.11
CY2024Q3 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
232527463 usd
CY2024Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2024Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2024Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-9614881 usd
CY2024Q3 us-gaap Stockholders Equity
StockholdersEquity
-9614114 usd
CY2024Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
233872849 usd
CY2024Q3 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
270193 usd
us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
311498 usd
CY2024Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-270193 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-311498 usd
CY2024Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
2627463 usd
us-gaap Investment Income Interest
InvestmentIncomeInterest
2627463 usd
CY2024Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2627463 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2627463 usd
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
2357270 usd
us-gaap Net Income Loss
NetIncomeLoss
2315965 usd
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
25000 usd
us-gaap Net Income Loss
NetIncomeLoss
-41305 usd
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
-16305 usd
CY2024Q3 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
6000000 shares
CY2024Q3 simau Adjustments To Additional Paid In Capital Sale Of Private Placement Warrants
AdjustmentsToAdditionalPaidInCapitalSaleOfPrivatePlacementWarrants
6000000 usd
CY2024Q3 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
1610000000000 usd
CY2024Q3 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
-120051 usd
CY2024Q3 us-gaap Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
-19445028 usd
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
2357270 usd
CY2024Q3 us-gaap Stockholders Equity
StockholdersEquity
-9614114 usd
us-gaap Net Income Loss
NetIncomeLoss
2315965 usd
us-gaap Investment Income Interest
InvestmentIncomeInterest
2627463 usd
simau Increase In Decrease Deferred Operating Costs
IncreaseInDecreaseDeferredOperatingCosts
-6364 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
385300 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
9500 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-680934 usd
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
230000000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-230000000 usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
260000 usd
simau Proceeds From Sale Of Units At Gross Net Of Underwriting Discounts Paid
ProceedsFromSaleOfUnitsAtGrossNetOfUnderwritingDiscountsPaid
230000000 usd
simau Proceeds From Sale Of Units Underwriting Discounts Paid
ProceedsFromSaleOfUnitsUnderwritingDiscountsPaid
226000000 usd
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
6000000 usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
297500 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
421480 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
231541020 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
860086 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
860086 usd
simau Formation Costs And Offering Costs Paid By Sponsor For Issuance Of Founder Shares
FormationCostsAndOfferingCostsPaidBySponsorForIssuanceOfFounderShares
25000 usd
simau Deferred Offering Costs Included In Accounts Payable And Accrued Expenses
DeferredOfferingCostsIncludedInAccountsPayableAndAccruedExpenses
5000 usd
simau Offering Costs Paid Through Notes Payable Related Party
OfferingCostsPaidThroughNotesPayableRelatedParty
37500 usd
simau Deferred Underwriter Commissions
DeferredUnderwriterCommissions
10950000 usd
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2024-01-29
CY2024Q3 simau Transaction Costs
TransactionCosts
15427616 usd
CY2024Q3 simau Cash Underwriting Fee
CashUnderwritingFee
4000000 usd
simau Deferred Underwriting Fees
DeferredUnderwritingFees
10950000 usd
CY2024Q3 simau Other Offering Costs
OtherOfferingCosts
477616 usd
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
230000000 usd
CY2024Q3 simau Percentage Of Obligation To Redeem Ordinary Shares
PercentageOfObligationToRedeemOrdinaryShares
1 pure
simau Period From Closing Of Public Offering To Complete Business Combination
PeriodFromClosingOfPublicOfferingToCompleteBusinessCombination
P24M
simau Percentage Of Aggregate Fair Market Value Held In Trust Account
PercentageOfAggregateFairMarketValueHeldInTrustAccount
0.80 pure
CY2024Q3 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
10
simau Number Of Business Days
NumberOfBusinessDays
P10D
simau Percentage Of Outstanding Public Shares Redeem
PercentageOfOutstandingPublicSharesRedeem
1 pure
simau Interest Income
InterestIncome
100000 usd
CY2024Q3 us-gaap Temporary Equity Redemption Price Per Share
TemporaryEquityRedemptionPricePerShare
10
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
860086 usd
CY2024Q3 simau Working Capital Deficits
WorkingCapitalDeficits
1055886 usd
CY2024Q3 us-gaap Cash
Cash
860086 usd
CY2024Q3 us-gaap Marketable Securities Noncurrent
MarketableSecuritiesNoncurrent
232627463 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Concentration of Credit Risk</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution, which, at times, may exceed the Federal Deposit Insurance Corporation maximum of $250,000. The Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts.</p>
CY2024Q3 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Use of Estimates</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The preparation of the condensed financial statements in conformity with U.S. 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 and the reported amounts of expenses and deferred offering costs during the reporting period.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">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 financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Actual results could differ from those estimates.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
230000000 usd
us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
1610000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
15307565 usd
us-gaap Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
19445028 usd
CY2024Q3 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
232527463 usd
CY2024Q3 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P5Y
CY2024Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
50000 shares
CY2024Q2 simau Aggregate Founder Shares
AggregateFounderShares
150000 shares
CY2024Q2 us-gaap Common Stock Dividends Shares
CommonStockDividendsShares
0.33 shares
CY2024Q2 simau Aggregate Founder Shares
AggregateFounderShares
66666 shares
simau Fair Value Granted
FairValueGranted
199998 shares
simau Working Capital Loans
WorkingCapitalLoans
1500000 usd
CY2024Q3 us-gaap Administrative Fees Expense
AdministrativeFeesExpense
10000 usd
us-gaap Related Party Tax Expense Due To Affiliates Current
RelatedPartyTaxExpenseDueToAffiliatesCurrent
30000 usd
CY2024Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2024Q3 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
23000000 shares
simau Percentage Of Outstanding Share
PercentageOfOutstandingShare
0.25 pure
simau Fair Value Of Shares Granted
FairValueOfSharesGranted
199998 shares
simau Warrants Of Exercisable Days
WarrantsOfExercisableDays
P30D
simau Number Of Days Prior Written Notice Of Redemption
NumberOfDaysPriorWrittenNoticeOfRedemption
P30D
simau Shares Price Equals Or Exceeds
SharesPriceEqualsOrExceeds
18
simau Number Of Days Commencing Warrants
NumberOfDaysCommencingWarrants
P20D
simau Number Of Trading Days Commencing
NumberOfTradingDaysCommencing
P30D
CY2024Q3 simau Underwriting Discount Of Per Unit
UnderwritingDiscountOfPerUnit
0.2
CY2024Q3 simau Underwriting Discount
UnderwritingDiscount
4000000 usd
CY2024Q3 simau Defer Underwriting Commissions Per Unit
DeferUnderwritingCommissionsPerUnit
0.45
simau Number Of Units Sold Per Unit
NumberOfUnitsSoldPerUnit
0.65
us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
10950000 usd
us-gaap Other Underwriting Expense
OtherUnderwritingExpense
10950000 usd
CY2024Q3 us-gaap Marketable Securities Noncurrent
MarketableSecuritiesNoncurrent
232627463 usd
CY2024Q3 simau Share Based Compensation Arrangement By Share Based Payment Award Discount For Probability Of Failure To Complete Ipo
ShareBasedCompensationArrangementByShareBasedPaymentAwardDiscountForProbabilityOfFailureToCompleteIPO
0.10 pure
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Discount From Market Price Offering Date
ShareBasedCompensationArrangementByShareBasedPaymentAwardDiscountFromMarketPriceOfferingDate
0.87 pure
CY2024Q3 simau Discount For Expected Forfeiture
DiscountForExpectedForfeiture
0.15 pure
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
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
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
0002014982

Files In Submission

Name View Source Status
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0001213900-24-098417.txt Edgar Link pending
0001213900-24-098417-xbrl.zip Edgar Link pending
ea0220715-10q_simacq1.htm Edgar Link pending
ea022071501ex31-1_simacq1.htm Edgar Link pending
ea022071501ex31-2_simacq1.htm Edgar Link pending
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ea022071501ex32-2_simacq1.htm Edgar Link pending
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