2023 Q4 Form 10-Q Financial Statement
#000149315223042186 Filed on November 21, 2023
Income Statement
Concept | 2023 Q4 | 2023 Q3 |
---|---|---|
Revenue | $240.0K | $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 | $190.0K | $257.5K |
YoY Change | -64.74% | 2.15% |
Operating Profit | -$257.5K | |
YoY Change | 2.15% | |
Interest Expense | $142.9K | $167.9K |
YoY Change | -80.07% | -67.96% |
% of Operating Profit | ||
Other Income/Expense, Net | $167.8K | |
YoY Change | -67.96% | |
Pretax Income | -$144.9K | -$89.64K |
YoY Change | -181.49% | -132.97% |
Income Tax | $36.00K | $14.00K |
% Of Pretax Income | ||
Net Earnings | -$180.9K | -$103.6K |
YoY Change | 1794.55% | -171.34% |
Net Earnings / Revenue | -75.39% | |
Basic Earnings Per Share | ||
Diluted Earnings Per Share | -$0.04 | -$0.03 |
COMMON SHARES | ||
Basic Shares Outstanding | 4.140M shares | 4.140M shares |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2023 Q4 | 2023 Q3 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $37.95K | $880.00 |
YoY Change | -57.0% | -99.59% |
Cash & Equivalents | $37.95K | $878.00 |
Short-Term Investments | ||
Other Short-Term Assets | $133.1K | $79.00K |
YoY Change | -52.08% | -79.86% |
Inventory | ||
Prepaid Expenses | $133.1K | $79.00K |
Receivables | ||
Other Receivables | ||
Total Short-Term Assets | $270.9K | $79.88K |
YoY Change | -25.99% | -86.87% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | ||
YoY Change | ||
Goodwill | ||
YoY Change | ||
Intangibles | ||
YoY Change | ||
Long-Term Investments | $12.45M | $14.03M |
YoY Change | -36.37% | -87.98% |
Other Assets | ||
YoY Change | ||
Total Long-Term Assets | $12.45M | $14.03M |
YoY Change | -36.37% | -87.98% |
TOTAL ASSETS | ||
Total Short-Term Assets | $270.9K | $79.88K |
Total Long-Term Assets | $12.45M | $14.03M |
Total Assets | $12.72M | $14.11M |
YoY Change | -36.18% | -87.98% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $1.217M | $1.224M |
YoY Change | 148.43% | 1490.13% |
Accrued Expenses | $80.44K | $67.22K |
YoY Change | ||
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $1.502M | $1.156M |
YoY Change | 1101.2% | |
Long-Term Debt Due | ||
YoY Change | ||
Total Short-Term Liabilities | $2.988M | $2.858M |
YoY Change | 221.67% | 759.15% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Other Long-Term Liabilities | $4.025M | $4.025M |
YoY Change | 0.0% | 0.0% |
Total Long-Term Liabilities | $4.025M | $4.025M |
YoY Change | 0.0% | 0.0% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $2.988M | $2.858M |
Total Long-Term Liabilities | $4.025M | $4.025M |
Total Liabilities | $7.013M | $6.883M |
YoY Change | 41.56% | 57.94% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$6.742M | -$6.803M |
YoY Change | 46.95% | 83.95% |
Common Stock | $288.00 | $288.00 |
YoY Change | 0.0% | 0.0% |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | -$6.742M | -$6.803M |
YoY Change | ||
Total Liabilities & Shareholders Equity | $12.72M | $14.11M |
YoY Change | -36.18% | -87.98% |
Cashflow Statement
Concept | 2023 Q4 | 2023 Q3 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | -$180.9K | -$103.6K |
YoY Change | 1794.55% | -171.34% |
Depreciation, Depletion And Amortization | ||
YoY Change | ||
Cash From Operating Activities | -$712.5K | -$23.80K |
YoY Change | 406.95% | -76.19% |
INVESTING ACTIVITIES | ||
Capital Expenditures | ||
YoY Change | ||
Acquisitions | ||
YoY Change | ||
Other Investing Activities | $1.727M | -$195.0K |
YoY Change | -98.24% | -291.12% |
Cash From Investing Activities | $1.727M | -$195.0K |
YoY Change | -98.24% | -291.12% |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | ||
YoY Change | ||
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | -977.0K | 218.0K |
YoY Change | -99.0% | |
NET CHANGE | ||
Cash From Operating Activities | -712.5K | -23.80K |
Cash From Investing Activities | 1.727M | -195.0K |
Cash From Financing Activities | -977.0K | 218.0K |
Net Change In Cash | 37.07K | -800.0 |
YoY Change | -128.96% | -138.28% |
FREE CASH FLOW | ||
Cash From Operating Activities | -$712.5K | -$23.80K |
Capital Expenditures | ||
Free Cash Flow | ||
YoY Change |
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IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
646525 | usd | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
160848 | usd | |
us-gaap |
Increase Decrease In Property And Other Taxes Payable
IncreaseDecreaseInPropertyAndOtherTaxesPayable
|
96000 | usd | |
us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
88000 | usd | |
us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
77000 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-543220 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-393693 | usd | |
us-gaap |
Payments To Acquire Investments
PaymentsToAcquireInvestments
|
885000 | usd | |
WINV |
Proceeds From Withdrawal Of Interest From Trust Account To Pay Taxes
ProceedsFromWithdrawalOfInterestFromTrustAccountToPayTaxes
|
309851 | usd | |
WINV |
Cash Withdrawn From Trust Account In Connection With Redemption
CashWithdrawnFromTrustAccountInConnectionWithRedemption
|
6721795 | usd | |
WINV |
Proceeds From Sale Of Investments In Trust Account
ProceedsFromSaleOfInvestmentsInTrustAccount
|
-102033 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
6146646 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
102033 | usd | |
us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
146000 | usd | |
us-gaap |
Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
|
885000 | usd | |
WINV |
Redemption Of Common Stock
RedemptionOfCommonStock
|
6721795 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-5690795 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-87369 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-291660 | usd | |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
88247 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
507906 | usd |
CY2023Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
878 | usd |
CY2022Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
216246 | usd |
us-gaap |
Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
|
1180988 | usd | |
us-gaap |
Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
|
542024 | usd | |
WINV |
Excise Tax Payable
ExciseTaxPayable
|
67218 | 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 |
CY2023Q3 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
|
5000001 | usd |
CY2023Q3 | WINV |
Extension Note Related Party
ExtensionNoteRelatedParty
|
1010000 | usd |
CY2022Q4 | WINV |
Extension Note Related Party
ExtensionNoteRelatedParty
|
125000 | usd |
us-gaap |
Interest Paid Net
InterestPaidNet
|
100000 | usd | |
WINV |
Percentage Of Deferred Underwriting Discounts And Commissions Payable To Underwriters
PercentageOfDeferredUnderwritingDiscountsAndCommissionsPayableToUnderwriters
|
0.035 | pure | |
CY2022Q3 | WINV |
Effective Tax Description
EffectiveTaxDescription
|
a new U.S. federal 1% excise tax on certain repurchases of stock by publicly traded U.S. domestic corporations and certain U.S. domestic subsidiaries of publicly traded foreign corporations occurring on or after January 1, 2023. The excise tax is imposed on the repurchasing corporation itself, not its shareholders from which shares are repurchased. The amount of the excise tax is generally 1% of the fair market value of the shares repurchased at the time of the repurchase. | |
CY2023Q2 | WINV |
Redemption Of Common Stock
RedemptionOfCommonStock
|
6721795 | usd |
CY2023Q3 | WINV |
Excise Tax Payable Current
ExciseTaxPayableCurrent
|
67218 | usd |
CY2023Q3 | WINV |
Excise Tax Liability Percentage
ExciseTaxLiabilityPercentage
|
0.01 | pure |
CY2023Q3 | us-gaap |
Cash
Cash
|
878 | usd |
CY2023Q3 | WINV |
Working Capital
WorkingCapital
|
2218057 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-966681 | usd | |
us-gaap |
Operating Expenses
OperatingExpenses
|
1476911 | usd | |
us-gaap |
Payments To Acquire Restricted Investments
PaymentsToAcquireRestrictedInvestments
|
55000 | usd | |
us-gaap |
Payments To Acquire Restricted Investments
PaymentsToAcquireRestrictedInvestments
|
55000 | usd | |
CY2023Q3 | WINV |
Deferred Underwriting Commissions
DeferredUnderwritingCommissions
|
4025000 | usd |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_843_eus-gaap--UseOfEstimates_zTmPuNB4wfki" 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"><i><span id="xdx_865_zZU8BCHRLv6h">Use of Estimates</span></i></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 unaudited 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 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; 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 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"><i> </i></span></p> | ||
CY2021Q3 | us-gaap |
Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
|
116150000 | usd |
us-gaap |
Related Party Tax Expense Due To Affiliates Current
RelatedPartyTaxExpenseDueToAffiliatesCurrent
|
0 | usd | |
CY2022 | us-gaap |
Related Party Tax Expense Due To Affiliates Current
RelatedPartyTaxExpenseDueToAffiliatesCurrent
|
0 | usd |
us-gaap |
Professional Fees
ProfessionalFees
|
10000 | usd | |
CY2022Q3 | WINV |
Percentage Of Aggregate Sales Price Of Securities Sold
PercentageOfAggregateSalesPriceOfSecuritiesSold
|
0.05 | pure |
us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p id="xdx_841_eus-gaap--ConcentrationRiskCreditRisk_zDFPeS1uhmod" 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"><i><span id="xdx_861_znHP1sZMO7a9">Concentration of Credit Risk</span></i></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 cash accounts in financial institutions, which, at times, may exceed the Federal Depository Insurance Coverage of $<span id="xdx_907_eus-gaap--CashFDICInsuredAmount_iI_c20230930_zQK9iIh8itrh" title="Cash, FDIC insured amount">250,000</span>. As of September 30, 2023, the Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts.</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> | ||
CY2023Q3 | us-gaap |
Cash Fdic Insured Amount
CashFDICInsuredAmount
|
250000 | usd |
CY2023Q3 | us-gaap |
Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
|
14030755 | usd |
CY2022Q4 | us-gaap |
Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
|
19571562 | usd |
WINV |
Redemption Description
RedemptionDescription
|
Subsequent to calculating the total loss allocable to both sets of shares, the Company split the amount to be allocated using a ratio of 0% for the redeemable Public Shares and 100% for the non-redeemable shares, reflective of the respective participation rights, for the three and nine months ended September 30, 2023. | ||
WINV |
Change In Value Of Common Stock Subject To Possible Redemption Shares
ChangeInValueOfCommonStockSubjectToPossibleRedemptionShares
|
11966667 | shares | |
CY2021Q3 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
11.50 | |
CY2023Q3 | us-gaap |
Deferred Offering Costs
DeferredOfferingCosts
|
2923969 | usd |
us-gaap |
Other Underwriting Expense
OtherUnderwritingExpense
|
2400000 | usd | |
CY2023Q3 | WINV |
Deferred Underwriting Commissions
DeferredUnderwritingCommissions
|
4025000 | usd |
CY2022Q4 | 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 | |
WINV |
Temporary Equity Remeasurement Value Adjustment Subject To Possible Redemption
TemporaryEquityRemeasurementValueAdjustmentSubjectToPossibleRedemption
|
8856041 | usd | |
CY2021Q4 | us-gaap |
Redeemable Noncontrolling Interest Equity Common Carrying Amount
RedeemableNoncontrollingInterestEquityCommonCarryingAmount
|
116150000 | usd |
CY2022 | WINV |
Temporary Equity Remeasurement Value Adjustment Subject To Possible Redemption
TemporaryEquityRemeasurementValueAdjustmentSubjectToPossibleRedemption
|
1422276 | usd |
CY2022 | WINV |
Redemption Of Common Stock
RedemptionOfCommonStock
|
98000714 | usd |
CY2022Q4 | us-gaap |
Redeemable Noncontrolling Interest Equity Common Carrying Amount
RedeemableNoncontrollingInterestEquityCommonCarryingAmount
|
19571562 | usd |
WINV |
Stock Issued During Period Value Deposits To Trust Account
StockIssuedDuringPeriodValueDepositsToTrustAccount
|
885000 | usd | |
WINV |
Temporary Equity Remeasurement Value Adjustment Subject To Possible Redemption
TemporaryEquityRemeasurementValueAdjustmentSubjectToPossibleRedemption
|
605839 | usd | |
WINV |
Stock Issued During Period Value Taxes Withdrawn From Trust Account
StockIssuedDuringPeriodValueTaxesWithdrawnFromTrustAccount
|
309851 | usd | |
WINV |
Redemption Of Common Stock
RedemptionOfCommonStock
|
6721795 | usd | |
CY2023Q3 | us-gaap |
Redeemable Noncontrolling Interest Equity Common Carrying Amount
RedeemableNoncontrollingInterestEquityCommonCarryingAmount
|
14030755 | usd |
CY2023Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
100000000 | shares |
CY2023Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
CY2023Q3 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | shares |
CY2023Q3 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2023Q3 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2022Q4 | 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 |