2024 Q3 Form 10-Q Financial Statement

#000149315224046053 Filed on November 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2023 Q3
Revenue $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 $235.6K
YoY Change -75.17%
Operating Profit -$203.1K -$235.6K
YoY Change -13.78% -75.17%
Interest Expense $865.4K
YoY Change -18.32%
% of Operating Profit
Other Income/Expense, Net $238.2K $865.4K
YoY Change -72.48% -18.32%
Pretax Income $629.8K
YoY Change 469.98%
Income Tax
% Of Pretax Income
Net Earnings $35.03K $629.8K
YoY Change -94.44% 469.96%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share $0.05
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $624.9K
YoY Change 34.88%
Cash & Equivalents $15.54K $624.8K
Short-Term Investments
Other Short-Term Assets $209.6K
YoY Change -67.33%
Inventory
Prepaid Expenses $88.27K $209.6K
Receivables
Other Receivables
Total Short-Term Assets $103.8K $834.4K
YoY Change -87.56% -24.46%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $67.94M
YoY Change -70.21%
Other Assets
YoY Change
Total Long-Term Assets $21.92M $67.94M
YoY Change -67.73% -70.21%
TOTAL ASSETS
Total Short-Term Assets $103.8K $834.4K
Total Long-Term Assets $21.92M $67.94M
Total Assets $22.02M $68.77M
YoY Change -67.97% -69.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.422M
YoY Change 122.19%
Accrued Expenses $0.00
YoY Change -100.0%
Deferred Revenue
YoY Change
Short-Term Debt $1.458M
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.659M $4.079M
YoY Change 38.73% 200.21%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $8.105M
YoY Change 0.0%
Total Long-Term Liabilities $8.105M
YoY Change 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.659M $4.079M
Total Long-Term Liabilities $8.105M
Total Liabilities $13.76M $12.18M
YoY Change 12.97% 28.74%
SHAREHOLDERS EQUITY
Retained Earnings -$13.66M -$11.35M
YoY Change 20.36% 35.77%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$13.66M -$11.35M
YoY Change
Total Liabilities & Shareholders Equity $22.02M $68.77M
YoY Change -67.97% -69.99%

Cashflow Statement

Concept 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income $35.03K $629.8K
YoY Change -94.44% 469.96%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$173.8K
YoY Change 113.25%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$140.0K
YoY Change
Cash From Investing Activities -$140.0K
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 820.2K
YoY Change
NET CHANGE
Cash From Operating Activities -173.8K
Cash From Investing Activities -140.0K
Cash From Financing Activities 820.2K
Net Change In Cash 506.4K
YoY Change -721.3%
FREE CASH FLOW
Cash From Operating Activities -$173.8K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2023Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
CY2023Q4 us-gaap Preferred Stock Value
PreferredStockValue
usd
CY2023Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
usd
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
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 Ex Transition Period
EntityExTransitionPeriod
false
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
5258992 usd
us-gaap Net Income Loss
NetIncomeLoss
792407 usd
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Central Index Key
EntityCentralIndexKey
0001892747
CY2024Q3 us-gaap Preferred Stock Value
PreferredStockValue
usd
CY2024Q3 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
usd
CY2024Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
88267 usd
CY2024Q3 us-gaap Assets
Assets
22024639 usd
CY2024Q3 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
2471034 usd
CY2024Q3 us-gaap Liabilities Current
LiabilitiesCurrent
5658566 usd
CY2024Q3 us-gaap Liabilities
Liabilities
13764046 usd
CY2024Q3 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
21920833 usd
CY2024Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-13660790 usd
CY2024Q3 us-gaap Stockholders Equity
StockholdersEquity
-13660240 usd
CY2024Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
22024639 usd
CY2024Q2 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
usd
CY2024Q3 us-gaap Cash
Cash
15539 usd
CY2024Q3 VMCA Working Capital Loans
WorkingCapitalLoans
613207 usd
CY2024Q3 VMCA Deferred Underwriting Commissions Noncurrent
DeferredUnderwritingCommissionsNoncurrent
8105480 usd
CY2024Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
203143 usd
CY2023Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
235620 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
926412 usd
CY2024Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-203143 usd
CY2023Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-235620 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-926412 usd
CY2024Q3 VMCA Interest Earned On Cash And Investments Held In Trust Account
InterestEarnedOnCashAndInvestmentsHeldInTrustAccount
238177 usd
CY2023Q3 VMCA Interest Earned On Cash And Investments Held In Trust Account
InterestEarnedOnCashAndInvestmentsHeldInTrustAccount
865386 usd
VMCA Interest Earned On Cash And Investments Held In Trust Account
InterestEarnedOnCashAndInvestmentsHeldInTrustAccount
1718819 usd
CY2024Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
238177 usd
CY2023Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
865386 usd
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
1718819 usd
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
35034 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
629766 usd
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
-11893772 usd
CY2024Q1 VMCA Accretion Of Ordinary Shares Subject To Possible Redemption
AccretionOfOrdinarySharesSubjectToPossibleRedemption
-1266149 usd
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
588681 usd
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
-12571240 usd
CY2024Q2 VMCA Accretion Of Ordinary Shares Subject To Possible Redemption
AccretionOfOrdinarySharesSubjectToPossibleRedemption
-970515 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
168692 usd
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
00-0000000
CY2024Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
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
001-41304
dei Entity Registrant Name
EntityRegistrantName
VALUENCE MERGER CORP. I
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
E9
dei Entity Address Address Line1
EntityAddressAddressLine1
4 Orinda Way
dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 100D
dei Entity Address City Or Town
EntityAddressCityOrTown
Orinda
dei Entity Address State Or Province
EntityAddressStateOrProvince
CA
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
94563
dei City Area Code
CityAreaCode
(415)
dei Local Phone Number
LocalPhoneNumber
340-0222
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
dei Entity Shell Company
EntityShellCompany
true
CY2023Q4 us-gaap Cash
Cash
684816 usd
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
78070 usd
CY2024Q3 us-gaap Assets Current
AssetsCurrent
103806 usd
CY2023Q4 us-gaap Assets Current
AssetsCurrent
762886 usd
CY2024Q3 us-gaap Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
21920833 usd
CY2023Q4 us-gaap Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
69402338 usd
CY2023Q4 us-gaap Assets
Assets
70165224 usd
CY2023Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
2228646 usd
CY2023Q4 VMCA Working Capital Loans
WorkingCapitalLoans
613207 usd
CY2023Q4 us-gaap Liabilities Current
LiabilitiesCurrent
4691178 usd
CY2023Q4 VMCA Deferred Underwriting Commissions Noncurrent
DeferredUnderwritingCommissionsNoncurrent
8105480 usd
CY2023Q4 us-gaap Liabilities
Liabilities
12796658 usd
CY2023Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
69262338 usd
CY2024Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2024Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2024Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2024Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-11894322 usd
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
-11893772 usd
CY2023Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
70165224 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1268085 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-1268085 usd
VMCA Interest Earned On Cash And Investments Held In Trust Account
InterestEarnedOnCashAndInvestmentsHeldInTrustAccount
5258992 usd
us-gaap Net Income Loss
NetIncomeLoss
3990907 usd
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
-13373063 usd
CY2024Q3 VMCA Accretion Of Ordinary Shares Subject To Possible Redemption
AccretionOfOrdinarySharesSubjectToPossibleRedemption
-322211 usd
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
35034 usd
CY2024Q3 us-gaap Stockholders Equity
StockholdersEquity
-13660240 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
-9521688 usd
CY2023Q1 VMCA Accretion Of Ordinary Shares Subject To Possible Redemption
AccretionOfOrdinarySharesSubjectToPossibleRedemption
-2430776 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
1776101 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
-10176363 usd
CY2023Q2 VMCA Accretion Of Ordinary Shares Subject To Possible Redemption
AccretionOfOrdinarySharesSubjectToPossibleRedemption
-2382830 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
1585040 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
-10974153 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
-10974153 usd
CY2023Q3 VMCA Accretion Of Ordinary Shares Subject To Possible Redemption
AccretionOfOrdinarySharesSubjectToPossibleRedemption
-1005386 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
629766 usd
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
-11349773 usd
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
-11349773 usd
us-gaap Net Income Loss
NetIncomeLoss
792407 usd
us-gaap Net Income Loss
NetIncomeLoss
3990907 usd
VMCA Interest Earned On Cash And Investments Held In Trust Account
InterestEarnedOnCashAndInvestmentsHeldInTrustAccount
1718819 usd
VMCA Interest Earned On Cash And Investments Held In Trust Account
InterestEarnedOnCashAndInvestmentsHeldInTrustAccount
5258992 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
10197 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-312864 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
242387 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
432907 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-694222 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-522314 usd
us-gaap Payments To Acquire Restricted Investments
PaymentsToAcquireRestrictedInvestments
700055 usd
us-gaap Payments To Acquire Restricted Investments
PaymentsToAcquireRestrictedInvestments
560000 usd
us-gaap Proceeds From Sale Of Restricted Investments
ProceedsFromSaleOfRestrictedInvestments
49900380 usd
us-gaap Proceeds From Sale Of Restricted Investments
ProceedsFromSaleOfRestrictedInvestments
167831206 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
49200325 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
167271206 usd
VMCA Proceeds From Convertible Promissory Note Related Party
ProceedsFromConvertiblePromissoryNoteRelatedParty
300000 usd
VMCA Proceeds From Convertible Promissory Note Related Party
ProceedsFromConvertiblePromissoryNoteRelatedParty
172714 usd
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
1285246 usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
425000 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
70000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
49900380 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
167831206 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-49175380 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-166443246 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-669277 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
305646 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
684816 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
319201 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
15539 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
624847 usd
CY2022Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
11.50
CY2022Q1 us-gaap Deposits
Deposits
20702619 usd
CY2022Q1 VMCA Deposits Per Unit
DepositsPerUnit
10.30
CY2022Q1 VMCA Proceeds From Deposit In Trust Account
ProceedsFromDepositInTrustAccount
226702619 usd
VMCA Transaction Costs
TransactionCosts
10718994 usd
us-gaap Other Underwriting Expense
OtherUnderwritingExpense
4000000 usd
us-gaap Payments For Underwriting Expense
PaymentsForUnderwritingExpense
2200996 usd
VMCA Deferred Underwriting Fees
DeferredUnderwritingFees
8105480 usd
CY2024Q3 us-gaap Other Deferred Costs Net
OtherDeferredCostsNet
814510 usd
CY2021Q4 us-gaap Sponsor Fees
SponsorFees
25000 usd
CY2021Q4 VMCA Sponsor Fees And Valuence Share
SponsorFeesAndValuenceShare
5502490 usd
CY2024Q3 VMCA Percentage Of Fair Market Value
PercentageOfFairMarketValue
0.80 pure
CY2024Q3 VMCA Percentage Of Public Shares That Can Be Transferred Without Any Restriction
PercentageOfPublicSharesThatCanBeTransferredWithoutAnyRestriction
0.15 pure
CY2024Q3 VMCA Public Shares Redeem Percentage
PublicSharesRedeemPercentage
1 pure
CY2024Q3 us-gaap Share Price
SharePrice
10.00
us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
420000 usd
VMCA Payments For Additional Contribution Amount
PaymentsForAdditionalContributionAmount
140000 usd
CY2024Q3 us-gaap Minimum Net Worth Required For Compliance
MinimumNetWorthRequiredForCompliance
5000001 usd
CY2024Q3 us-gaap Minimum Net Worth Required For Compliance
MinimumNetWorthRequiredForCompliance
5000001 usd
CY2024Q1 us-gaap Interest Bearing Domestic Deposit Money Market
InterestBearingDomesticDepositMoneyMarket
100000000000 usd
CY2024Q2 VMCA Reedemable Share Based Allocation Description
ReedemableShareBasedAllocationDescription
(i) on June 4, 2024, with respect to the initial extension, an amount equal to the lesser of (x) $60,000 or (y) $0.03 per public share multiplied by the number of Public Shares outstanding and (ii) one business day following the public announcement by the Company that the Board of Directors has elected to further extend such date for an additional month, an amount equal to the lesser of (x) $30,000 or (y) $0.015 per public share multiplied by the number of Public Shares outstanding (the “New Contributions”)
CY2024Q2 us-gaap Sale Of Stock Percentage Of Ownership After Transaction
SaleOfStockPercentageOfOwnershipAfterTransaction
0.099 pure
CY2024Q2 us-gaap Deposits
Deposits
56022 usd
CY2024Q3 us-gaap Deposits
Deposits
28011 usd
CY2024Q3 us-gaap Deposits
Deposits
28011 usd
CY2024Q3 us-gaap Deposits
Deposits
28011 usd
CY2024Q3 us-gaap Cash
Cash
15539 usd
CY2024Q3 VMCA Working Capital Deficit
WorkingCapitalDeficit
5554762 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_845_eus-gaap--UseOfEstimates_zTpG0XmEnAD5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Use of Estimates</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; 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: 0; 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: 0; 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: 0; 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: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q3 us-gaap Cash
Cash
15539 usd
CY2023Q4 us-gaap Cash
Cash
684816 usd
CY2024Q3 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2023Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2024Q2 us-gaap Payments For Deposits
PaymentsForDeposits
56022 usd
CY2024Q3 us-gaap Payments For Deposits
PaymentsForDeposits
28011 usd
CY2024Q3 us-gaap Payments For Deposits
PaymentsForDeposits
28011 usd
CY2024Q3 us-gaap Payments For Deposits
PaymentsForDeposits
28011 usd
CY2024Q4 us-gaap Payments For Deposits
PaymentsForDeposits
84033 usd
CY2022 us-gaap Proceeds From Other Equity
ProceedsFromOtherEquity
220099630 usd
CY2022 us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
5942690 usd
CY2022 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
-10393817 usd
CY2022 us-gaap Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
26186866 usd
CY2022Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
229949989 usd
CY2023 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
167831206 usd
CY2023 us-gaap Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
7143555 usd
CY2023Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
69262338 usd
CY2024Q1 us-gaap Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
1266149 usd
CY2024Q1 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
70528487 usd
CY2024Q2 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
49900380 usd
CY2024Q2 us-gaap Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
970515 usd
CY2024Q2 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
21598622 usd
CY2024Q3 us-gaap Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
322211 usd
CY2024Q3 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
21920833 usd
CY2024Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 usd
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 usd
CY2024Q3 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
0 usd
CY2023Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
0 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_847_eus-gaap--ConcentrationRiskCreditRisk_zgzbE7DWhOFa" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Concentration of Credit Risk</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; 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: 0; 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_c20240930_z9TK0Fjrr8N" title="Federal deposit insurance corporation coverage limit">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: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q3 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2021Q4 us-gaap Sponsor Fees
SponsorFees
25000 usd
us-gaap Related Party Transaction Description Of Transaction
RelatedPartyTransactionDescriptionOfTransaction
(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 subdivisions, 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.
us-gaap Payments To Fund Longterm Loans To Related Parties
PaymentsToFundLongtermLoansToRelatedParties
1500000 usd
CY2022Q1 us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
198384 usd
CY2024Q1 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
170000 usd
CY2024Q2 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
255000 usd
CY2024Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2024Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2024Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2024Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2024Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.01
CY2024Q3 VMCA Equity Proceeds Percentage
EquityProceedsPercentage
0.60 pure
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

Name View Source Status
0001493152-24-046053-index-headers.html Edgar Link pending
0001493152-24-046053-index.html Edgar Link pending
0001493152-24-046053.txt Edgar Link pending
0001493152-24-046053-xbrl.zip Edgar Link pending
ex31-1.htm Edgar Link pending
ex31-2.htm Edgar Link pending
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
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
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.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
vmca-20240930.xsd Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
vmca-20240930_cal.xml Edgar Link unprocessable
vmca-20240930_def.xml Edgar Link unprocessable
vmca-20240930_lab.xml Edgar Link unprocessable
vmca-20240930_pre.xml Edgar Link unprocessable
form10-q_htm.xml Edgar Link completed