2023 Q1 Form 10-K Financial Statement

#000149315223010393 Filed on March 31, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $0.00 $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 $569.6K $538.9K $1.322M
YoY Change 126.21% 114.82% 316.22%
Operating Profit -$569.6K -$1.322M
YoY Change 126.21%
Interest Expense $209.1K $716.8K $1.409M
YoY Change 1686.75% 29155.51% 53687.79%
% of Operating Profit
Other Income/Expense, Net $209.1K $1.409M
YoY Change 1687.37%
Pretax Income -$360.5K $177.9K $87.37K
YoY Change 50.16% -171.6% -127.74%
Income Tax $44.00K $187.4K $314.0K
% Of Pretax Income 105.36% 359.4%
Net Earnings -$404.5K -$9.550K -$226.6K
YoY Change 68.48% -96.16% -28.05%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$0.14 $0.00 -$0.08
COMMON SHARES
Basic Shares Outstanding 4.768M shares 14.38M shares 1.898M shares
Diluted Shares Outstanding 2.875M shares 2.875M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $57.05K $88.25K $88.25K
YoY Change -81.45% -82.62% -82.62%
Cash & Equivalents $57.05K $88.25K
Short-Term Investments
Other Short-Term Assets $230.7K $277.8K $277.8K
YoY Change -47.36% -29.41% -29.41%
Inventory
Prepaid Expenses $230.7K $277.8K
Receivables
Other Receivables
Total Short-Term Assets $287.7K $366.0K $366.0K
YoY Change -61.42% -59.39% -59.39%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $20.01M $19.57M $19.57M
YoY Change -82.78% -83.15% -83.15%
Other Assets
YoY Change
Total Long-Term Assets $20.01M $19.57M $19.57M
YoY Change -82.8% -83.19% -83.19%
TOTAL ASSETS
Total Short-Term Assets $287.7K $366.0K $366.0K
Total Long-Term Assets $20.01M $19.57M $19.57M
Total Assets $20.29M $19.94M $19.94M
YoY Change -82.67% -83.01% -83.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $708.3K $489.9K $489.9K
YoY Change 2260.93% 416.96% 416.96%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $623.0K $125.0K $125.0K
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.689M $928.9K $928.9K
YoY Change 1736.77% 880.24% 880.23%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $4.025M $4.025M $4.025M
YoY Change 0.0% 0.0% 0.0%
Total Long-Term Liabilities $4.025M $4.025M $4.025M
YoY Change 0.0% 0.0% 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.689M $928.9K $928.9K
Total Long-Term Liabilities $4.025M $4.025M $4.025M
Total Liabilities $5.714M $4.954M $4.954M
YoY Change 38.8% 20.25% 20.25%
SHAREHOLDERS EQUITY
Retained Earnings -$5.427M -$4.588M
YoY Change 56.1%
Common Stock $288.00 $288.00
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$5.427M -$4.588M $14.98M
YoY Change
Total Liabilities & Shareholders Equity $20.29M $19.94M $19.94M
YoY Change -82.67% -83.01% -83.01%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$404.5K -$9.550K -$226.6K
YoY Change 68.48% -96.16% -28.05%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$304.1K -$140.6K -$534.2K
YoY Change 51.8% 47.48% -40.18%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$225.2K $97.89M $97.99M
YoY Change -184.37%
Cash From Investing Activities -$225.1K $97.89M $97.99M
YoY Change -184.37%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $498.0K -97.88M -$97.88M
YoY Change -183.26%
NET CHANGE
Cash From Operating Activities -$304.1K -140.6K -$534.2K
Cash From Investing Activities -$225.1K 97.89M $97.99M
Cash From Financing Activities $498.0K -97.88M -$97.88M
Net Change In Cash -$31.20K -128.0K -$419.7K
YoY Change 34.3% -182.63%
FREE CASH FLOW
Cash From Operating Activities -$304.1K -$140.6K -$534.2K
Capital Expenditures
Free Cash Flow
YoY Change

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CY2022 us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
125000 usd
CY2021Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
10000000 shares
CY2021Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
11.50
CY2021Q3 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
10.00
CY2021Q3 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
100000000 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
100000 usd
CY2022 WINV Percentage Of Deferred Underwriting Discounts And Commissions Payable To Underwriters
PercentageOfDeferredUnderwritingDiscountsAndCommissionsPayableToUnderwriters
0.035 pure
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_844_eus-gaap--UseOfEstimates_zI8DKhv4rVKj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_865_zWnhbEQOelS6">Use of Estimates</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of 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 at the date of the 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 0pt 0pt 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: 0pt 0pt 0pt 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 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 0pt 0pt 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: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p>
CY2021Q3 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
116150000 usd
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_84C_eus-gaap--ConcentrationRiskCreditRisk_zeP1JyzT2tB3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_86D_zqY5ire2Pf1i">Concentration of Credit Risk</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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: 0pt 0pt 0pt 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 Depository Insurance Coverage of $<span id="xdx_902_eus-gaap--CashFDICInsuredAmount_iI_pp0p0_c20221231_zG53A6nAvbYd" title="Cash, FDIC insured amount">250,000</span>. As of December 31, 2022, the Company has not experienced losses on this account and management believes the Company is not exposed to significant risks on such account.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p>
CY2022Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2022Q4 us-gaap Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
19571562 usd
CY2021Q4 us-gaap Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
116152616 usd
us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
-181892 usd
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1898300 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3929508 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.05
CY2022 WINV Net Loss Applicable To Nonredeemable Common Shares Including Accretion Of Temporary Equity
NetLossApplicableToNonredeemableCommonSharesIncludingAccretionOfTemporaryEquity
-226632 usd
WINV Net Loss Applicable To Nonredeemable Common Shares Including Accretion Of Temporary Equity
NetLossApplicableToNonredeemableCommonSharesIncludingAccretionOfTemporaryEquity
-133080 usd
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2875000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2875000 shares
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.08
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.05
CY2022 WINV Change In Value Of Common Stock Subject To Possible Redemption Shares
ChangeInValueOfCommonStockSubjectToPossibleRedemptionShares
11966667 shares
CY2022Q4 us-gaap Cash
Cash
88247 usd
CY2022 WINV Working Capital
WorkingCapital
248849 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-226632 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-534243 usd
CY2021Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
11.50
CY2022Q4 us-gaap Deferred Offering Costs
DeferredOfferingCosts
2923969 usd
CY2022 us-gaap Other Underwriting Expense
OtherUnderwritingExpense
2400000 usd
CY2022Q4 WINV Deferred Underwriting Commissions
DeferredUnderwritingCommissions
4025000 usd
CY2021Q4 us-gaap Due From Related Parties
DueFromRelatedParties
220317 usd
CY2022Q4 us-gaap Common Stock Convertible Conversion Price Increase
CommonStockConvertibleConversionPriceIncrease
0.50
CY2022 us-gaap Professional Fees
ProfessionalFees
10000 usd
CY2022Q3 WINV Percentage Of Aggregate Sales Price Of Securities Sold
PercentageOfAggregateSalesPriceOfSecuritiesSold
0.05 pure
CY2022Q4 WINV Deferred Underwriting Commissions
DeferredUnderwritingCommissions
4025000 usd
CY2021Q4 WINV Deferred Underwriting Commissions
DeferredUnderwritingCommissions
4025000 usd
WINV Common Shares Subject Possible Redemption Gross Proceeds
CommonSharesSubjectPossibleRedemptionGrossProceeds
115000000 usd
WINV Offering Costs Allocated To Common Stock Subject To Possible Redemption
OfferingCostsAllocatedToCommonStockSubjectToPossibleRedemption
-6498541 usd
WINV Proceeds From Issuance Of Public Warrants
ProceedsFromIssuanceOfPublicWarrants
2357500 usd
WINV Deposit To Trust Account From Private Placement
DepositToTrustAccountFromPrivatePlacement
1150000 usd
us-gaap Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
8856041 usd
CY2022Q1 us-gaap Redeemable Noncontrolling Interest Equity Common Carrying Amount
RedeemableNoncontrollingInterestEquityCommonCarryingAmount
116150000 usd
CY2022 WINV Redemption Of Common Stock
RedemptionOfCommonStock
98000714 usd
CY2022Q4 us-gaap Redeemable Noncontrolling Interest Equity Common Carrying Amount
RedeemableNoncontrollingInterestEquityCommonCarryingAmount
19571562 usd
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2021Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q3 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
11.50
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
241000 usd
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
73000 usd
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
314000 usd
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-222850 usd
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-66144 usd
CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-67100 usd
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-19906 usd
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-289950 usd
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-86050 usd
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
289950 usd
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
86050 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
314000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.063 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.063 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
3.318 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.273 pure
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
3.591 pure
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
16507 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense
DeferredTaxAssetsTaxDeferredExpense
376000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense
DeferredTaxAssetsTaxDeferredExpense
69543 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
376000 usd
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
86050 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
376000 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
86050 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
376000 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
86050 usd
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
289950 usd
us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
86050 usd

Files In Submission

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winv-20221231_cal.xml Edgar Link unprocessable
0001493152-23-010393-index-headers.html Edgar Link pending
0001493152-23-010393-index.html Edgar Link pending
0001493152-23-010393.txt Edgar Link pending
0001493152-23-010393-xbrl.zip Edgar Link pending
ex31-1.htm Edgar Link pending
ex32-1.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
form10-k.htm Edgar Link pending
MetaLinks.json Edgar Link pending
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form10-k_htm.xml Edgar Link completed
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report.css Edgar Link pending
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winv-20221231.xsd Edgar Link pending
winv-20221231_def.xml Edgar Link unprocessable
winv-20221231_lab.xml Edgar Link unprocessable
winv-20221231_pre.xml Edgar Link unprocessable