2023 Q4 Form 10-Q Financial Statement

#000149315223042186 Filed on November 21, 2023

View on sec.gov

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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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

Files In Submission

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winv-20230930_cal.xml Edgar Link unprocessable
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0001493152-23-042186.txt Edgar Link pending
0001493152-23-042186-xbrl.zip Edgar Link pending
ex31-1.htm Edgar Link pending
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