$WAVS
Western Acquisition Ventures Corp.

2024 Q4 Form 10-Q Financial Statement

#000141057824002074 Filed on December 09, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q4
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $286.6K
YoY Change -30.7%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $286.6K
YoY Change -30.7%
Operating Profit -$375.0K
YoY Change 51.85%
Interest Expense $17.77K
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$375.0K -$268.8K
YoY Change 53.93% -150.07%
Income Tax $7.990K
% Of Pretax Income
Net Earnings -$375.0K -$276.8K
YoY Change 47.85% -173.87%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$0.07
COMMON SHARES
Basic Shares Outstanding 3.425M 3.525M 3.556M
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00
YoY Change -100.0%
Cash & Equivalents $45.15K $8.651K
Short-Term Investments
Other Short-Term Assets $17.99K
YoY Change -93.29%
Inventory
Prepaid Expenses
Receivables
Other Receivables $63.32K $99.96K
Total Short-Term Assets $313.7K $118.0K
YoY Change -22.78% -89.06%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $3.294M
YoY Change -97.19%
Other Assets $0.00
YoY Change -100.0%
Total Long-Term Assets $2.600M $3.294M
YoY Change -20.07% -97.19%
TOTAL ASSETS
Total Short-Term Assets $313.7K $118.0K
Total Long-Term Assets $2.600M $3.294M
Total Assets $2.914M $3.412M
YoY Change -20.38% -97.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.099M
YoY Change 32.52%
Accrued Expenses $21.25K
YoY Change -86.98%
Deferred Revenue
YoY Change
Short-Term Debt $204.2K
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.306M
YoY Change 165.87%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $3.306M
Total Long-Term Liabilities $0.00
Total Liabilities $3.978M $3.306M
YoY Change 21.39% 165.87%
SHAREHOLDERS EQUITY
Retained Earnings -$3.862M -$3.203M
YoY Change 33.48% 71.97%
Common Stock $324.00 $324.00
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$3.742M -$3.202M
YoY Change
Total Liabilities & Shareholders Equity $2.914M $3.412M
YoY Change -20.38% -97.12%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q4
OPERATING ACTIVITIES
Net Income -$375.0K -$276.8K
YoY Change 47.85% -173.87%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$293.9K
YoY Change 53.62%
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
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000
YoY Change
NET CHANGE
Cash From Operating Activities -293.9K
Cash From Investing Activities 0.000
Cash From Financing Activities 0.000
Net Change In Cash -293.9K
YoY Change -188.09%
FREE CASH FLOW
Cash From Operating Activities -$293.9K
Capital Expenditures
Free Cash Flow
YoY Change

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1
CY2024Q1 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
100
CY2024Q1 us-gaap Stock Redeemed Or Called During Period Shares
StockRedeemedOrCalledDuringPeriodShares
31143
CY2024Q1 wavs Stock Redemption Redemption Price Per Share
StockRedemptionRedemptionPricePerShare
10.51
us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
327375
CY2024Q2 wavs Amount To Be Deposited In Trust Account For Extending Termination Date Of Investment Management Trust Agreement
AmountToBeDepositedInTrustAccountForExtendingTerminationDateOfInvestmentManagementTrustAgreement
100
CY2024Q2 wavs Proceeds From Capital Raise Deposited Into Operating Bank Account
ProceedsFromCapitalRaiseDepositedIntoOperatingBankAccount
254269
CY2024Q1 wavs Excess Amount Erroneously Withdrawn From Trust Account
ExcessAmountErroneouslyWithdrawnFromTrustAccount
108611
CY2024Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
45150
wavs Amount Erroneously Withdrawn From Trust Account Intended To Be Deposited Back Into Trust Account
AmountErroneouslyWithdrawnFromTrustAccountIntendedToBeDepositedBackIntoTrustAccount
63319
wavs Excess Amount Erroneously Withdrawn From Trust Account Intended To Use For Tax Obligations Until Deposited
ExcessAmountErroneouslyWithdrawnFromTrustAccountIntendedToUseForTaxObligationsUntilDeposited
63319
CY2024Q3 wavs Amount To Be Deposited In Trust Account For Extending Termination Date Of Investment Management Trust Agreement
AmountToBeDepositedInTrustAccountForExtendingTerminationDateOfInvestmentManagementTrustAgreement
100
CY2024Q3 wavs Maximum Dissolution Expenses Payable
MaximumDissolutionExpensesPayable
100000
CY2024Q3 us-gaap Share Price
SharePrice
10.1
CY2024Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
45150
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
8651
CY2024Q3 wavs Working Capital Deficit
WorkingCapitalDeficit
3664323
CY2023 wavs Excess Amount Erroneously Withdrawn From Trust Account
ExcessAmountErroneouslyWithdrawnFromTrustAccount
108611
wavs Cash Withdrawn From Trust Account To Pay Franchise And Income Taxes
CashWithdrawnFromTrustAccountToPayFranchiseAndIncomeTaxes
597824
wavs Due From Sponsor
DueFromSponsor
63319
CY2024Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
45150
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;line-height:1.19;margin:0pt 0pt 12pt 0pt;"><span style="font-family:'Times New Roman','Times','serif';font-style:italic;font-weight:bold;">Use of Estimates</span></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt 0pt 12pt 0pt;"><span style="font-family:'Times New Roman','Times','serif';">The preparation of the unaudited consolidated 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 consolidated condensed financial statements and the reported amounts of revenues and expenses during the reporting period.</span></p>
CY2024Q3 us-gaap Cash
Cash
45150
CY2023Q4 us-gaap Cash
Cash
45150
CY2024Q3 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0
CY2023Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0
CY2024Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
45150
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
8651
CY2022Q1 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
11500000
wavs Excess Amount Erroneously Withdrawn From Trust Account
ExcessAmountErroneouslyWithdrawnFromTrustAccount
108611
CY2024Q3 wavs Excess Amount Erroneously Withdrawn From Trust Account
ExcessAmountErroneouslyWithdrawnFromTrustAccount
108611
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;line-height:1.19;margin:0pt 0pt 10pt 0pt;"><span style="font-family:'Times New Roman','Times','serif';font-style:italic;font-weight:bold;">Concentration of Credit Risk</span></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt 0pt 12pt 0pt;"><span style="font-family:'Times New Roman','Times','serif';">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 Depository Insurance Corporation limit of </span><span style="font-family:'Times New Roman','Times','serif';">$250,000</span><span style="font-family:'Times New Roman','Times','serif';">. As of September 30, 2024 and December 31, 2023, the Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such account.</span></p>
CY2024Q3 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000
CY2024Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2024Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2023Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11876000
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11876000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11876000
CY2024Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11876000
CY2022Q1 wavs Units Issued During Period Shares New Issues
UnitsIssuedDuringPeriodSharesNewIssues
11500000
CY2021Q4 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
2
wavs Underwriting Option Period
UnderwritingOptionPeriod
P45D
CY2021Q4 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
2
wavs Debt Instrument Amortization Percentage
DebtInstrumentAmortizationPercentage
0.045
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
5175000
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q1 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
430021
CY2024Q3 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
0
CY2024Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
0
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
665116
CY2024Q3 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
1149502
wavs Excise Tax Payable As Percentage Of Shares Redeemed
ExciseTaxPayableAsPercentageOfSharesRedeemed
0.01
CY2024Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000
CY2024Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
3251000
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
3251000
CY2024Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
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 Outstanding
PreferredStockSharesOutstanding
0
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2024Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
wavs Class Of Warrant Or Right Redemption Of Warrants Or Rights Stock Price Trigger
ClassOfWarrantOrRightRedemptionOfWarrantsOrRightsStockPriceTrigger
18
wavs Class Of Warrant Or Right Redemption Of Warrants Or Rights Threshold Trading Days
ClassOfWarrantOrRightRedemptionOfWarrantsOrRightsThresholdTradingDays
20
wavs Class Of Warrant Or Right Redemption Of Warrants Or Rights Threshold Consecutive Trading Days
ClassOfWarrantOrRightRedemptionOfWarrantsOrRightsThresholdConsecutiveTradingDays
30
CY2024Q3 wavs Threshold Issue Price For Capital Raising Purposes In Connection With Closing Of Business Combination
ThresholdIssuePriceForCapitalRaisingPurposesInConnectionWithClosingOfBusinessCombination
9.2
wavs Percentage Of Gross Proceeds On Total Equity Proceeds
PercentageOfGrossProceedsOnTotalEquityProceeds
0.60
wavs Threshold Trading Days For Calculating Market Value
ThresholdTradingDaysForCalculatingMarketValue
20
CY2024Q3 wavs Threshold Issue Price For Capital Raising Purposes In Connection With Closing Of Business Combination
ThresholdIssuePriceForCapitalRaisingPurposesInConnectionWithClosingOfBusinessCombination
9.2
wavs Class Of Warrant Or Right Adjustment Of Redemption Price Of Warrants Or Rights Percent Based On Market Value And Newly Issued Price2
ClassOfWarrantOrRightAdjustmentOfRedemptionPriceOfWarrantsOrRightsPercentBasedOnMarketValueAndNewlyIssuedPrice2
1.15
CY2023Q4 wavs Forward Purchase Agreement Liability
ForwardPurchaseAgreementLiability
665116
CY2023Q1 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
430021
CY2024Q3 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
0
CY2024Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
0
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
665116
CY2023Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
665116
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
-665116
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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