$VMCA
Valuence Merger Corp I

2023 Q1 Form 10-Q Financial Statement

#000149315223017307 Filed on May 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q1
Revenue $0.00 $0.00
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 $654.7K $96.00K
YoY Change 581.96%
Operating Profit -$654.7K -$96.00K
YoY Change 581.99%
Interest Expense $2.431M $13.72K
YoY Change 17617.06%
% of Operating Profit
Other Income/Expense, Net $2.431M $13.72K
YoY Change 17611.86%
Pretax Income $1.776M -$82.27K
YoY Change -2258.87%
Income Tax
% Of Pretax Income
Net Earnings $1.776M -$82.27K
YoY Change -2258.84%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share $0.06 -$2.964K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $169.8K $965.6K
YoY Change -82.42%
Cash & Equivalents $169.8K $965.6K
Short-Term Investments
Other Short-Term Assets $472.6K $870.7K
YoY Change -45.72%
Inventory
Prepaid Expenses $472.6K
Receivables
Other Receivables
Total Short-Term Assets $642.4K $1.836M
YoY Change -65.02%
LONG-TERM ASSETS
Property, Plant & Equipment $5.000M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $232.4M $226.7M
YoY Change 2.5%
Other Assets $0.00
YoY Change
Total Long-Term Assets $232.4M $226.7M
YoY Change 2.5%
TOTAL ASSETS
Total Short-Term Assets $642.4K $1.836M
Total Long-Term Assets $232.4M $226.7M
Total Assets $233.0M $228.6M
YoY Change 1.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.445M $80.00
YoY Change 3056025.0%
Accrued Expenses $70.00K $533.3K
YoY Change -86.87%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.713M $731.8K
YoY Change 270.78%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $8.105M $8.105M
YoY Change 0.0%
Total Long-Term Liabilities $8.105M $8.105M
YoY Change 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.713M $731.8K
Total Long-Term Liabilities $8.105M $8.105M
Total Liabilities $10.82M $8.837M
YoY Change 22.42%
SHAREHOLDERS EQUITY
Retained Earnings -$10.18M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$10.18M -$6.987M
YoY Change
Total Liabilities & Shareholders Equity $233.0M $228.6M
YoY Change 1.96%

Cashflow Statement

Concept 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income $1.776M -$82.27K
YoY Change -2258.84%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$149.4K -$966.7K
YoY Change -84.55%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 -$226.7M
YoY Change -100.0%
Cash From Investing Activities -$226.7M
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 228.5M
YoY Change
NET CHANGE
Cash From Operating Activities -$149.4K -966.7K
Cash From Investing Activities -226.7M
Cash From Financing Activities 228.5M
Net Change In Cash -$149.4K 786.9K
YoY Change -118.99%
FREE CASH FLOW
Cash From Operating Activities -$149.4K -$966.7K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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VALUENCE MERGER CORP. I
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CY2023Q1 us-gaap Use Of Estimates
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<p id="xdx_84C_eus-gaap--UseOfEstimates_zPki2UEXLrki" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86E_zCKxOqyoU5e8">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of the unaudited condensed 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 unaudited condensed financial statements and the reported amounts of revenues and expenses during the reporting period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; 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 unaudited condensed financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
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<p id="xdx_84E_eus-gaap--ConcentrationRiskCreditRisk_zTsmMeWx3nve" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_867_zcijcOlRrYqa">Concentration of Credit Risk</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 the Federal Deposit Insurance Corporation coverage limit of $<span id="xdx_905_eus-gaap--CashFDICInsuredAmount_iI_c20230331_z7gtsFZkBUGf" title="Cash FDIC insured amount">250,000</span>. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations, and cash flows.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q1 us-gaap Cash Fdic Insured Amount
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25000 usd
CY2023Q1 us-gaap Related Party Transaction Description Of Transaction
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(A) one year after the completion of a Business Combination and (B) subsequent to a Business Combination, (x) if the closing price of the Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share sub-divisions, share dividends, rights issuances, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after a Business Combination, or (y) the date on which the Company completes a liquidation, merger, share exchange or other similar transaction that results in all of the Public Shareholders having the right to exchange their Class A ordinary shares for cash, securities or other property
CY2023Q1 us-gaap Payments To Fund Longterm Loans To Related Parties
PaymentsToFundLongtermLoansToRelatedParties
1500000 usd
CY2022Q1 us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
198384 usd
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2023Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2023Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2023Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.01
CY2023Q1 VMCAU Equity Proceeds Percentage
EquityProceedsPercentage
0.60 pure
CY2023Q1 us-gaap Sale Of Stock Description Of Transaction
SaleOfStockDescriptionOfTransaction
the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price, the $18.00 per share redemption trigger price will be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly Issued Price, and the $10.00 per share redemption trigger price will be adjusted (to the nearest cent) to be equal to the higher of the Market Value and the Newly Issued Price

Files In Submission

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vmcau-20230331_cal.xml Edgar Link unprocessable
0001493152-23-017307-index-headers.html Edgar Link pending
0001493152-23-017307-index.html Edgar Link pending
0001493152-23-017307.txt Edgar Link pending
0001493152-23-017307-xbrl.zip Edgar Link pending
ex31-1.htm Edgar Link pending
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ex32-1.htm Edgar Link pending
ex32-2.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
form10-q.htm Edgar Link pending
MetaLinks.json Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable
form10-q_htm.xml Edgar Link completed
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report.css Edgar Link pending
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vmcau-20230331.xsd Edgar Link pending
vmcau-20230331_def.xml Edgar Link unprocessable
vmcau-20230331_lab.xml Edgar Link unprocessable
vmcau-20230331_pre.xml Edgar Link unprocessable