$WTMA
Welsbach Technology Metals Acquisition Corp

2023 Q3 Form 10-Q Financial Statement

#000121390023069373 Filed on August 21, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $605.5K $380.6K $313.0K
YoY Change -45.57% 21.61%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $605.5K $380.6K $313.0K
YoY Change -45.57% 21.61% 31200.0%
Operating Profit -$605.5K
YoY Change -45.57%
Interest Expense $507.9K $502.1K $104.4K
YoY Change 45.53% 381.18%
% of Operating Profit
Other Income/Expense, Net $507.9K $502.1K $104.3K
YoY Change 45.53% 381.19%
Pretax Income -$97.62K $121.5K -$208.7K
YoY Change -87.22% -158.22%
Income Tax -$261.9K $94.94K
% Of Pretax Income 78.16%
Net Earnings $164.3K $26.53K -$208.7K
YoY Change -120.13% -112.71% 20765.3%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share $0.03 $0.00 -$20.96K
COMMON SHARES
Basic Shares Outstanding 5.914M shares 5.914M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $94.58K $210.00 $791.2K
YoY Change -78.33% -99.97%
Cash & Equivalents $94.58K $70.54K $791.2K
Short-Term Investments
Other Short-Term Assets $42.12K $65.83K $138.2K
YoY Change 239.13% -52.36%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $136.7K $165.2K $929.3K
YoY Change -69.54% -82.22%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles $5.000M $5.000M $5.000M
YoY Change 0.0% 0.0%
Long-Term Investments $39.61M $38.86M $77.39M
YoY Change -49.54% -49.79%
Other Assets $213.2K $70.33K
YoY Change
Total Long-Term Assets $39.83M $38.93M $77.39M
YoY Change -49.27% -49.7%
TOTAL ASSETS
Total Short-Term Assets $136.7K $165.2K $929.3K
Total Long-Term Assets $39.83M $38.93M $77.39M
Total Assets $39.96M $39.09M $78.32M
YoY Change -49.39% -50.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.792M $2.649M $122.3K
YoY Change 283.65% 2066.96%
Accrued Expenses $336.2K $275.0K $81.39K
YoY Change 155.85% 237.89%
Deferred Revenue
YoY Change
Short-Term Debt $2.780M $2.046M $0.00
YoY Change 259.81%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $22.66M $5.652M $426.2K
YoY Change 1102.98% 1226.13%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.705M $2.705M $2.705M
YoY Change 0.0% 0.0%
Total Long-Term Liabilities $2.705M $2.705M $2.705M
YoY Change 0.0% 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $22.66M $5.652M $426.2K
Total Long-Term Liabilities $2.705M $2.705M $2.705M
Total Liabilities $25.36M $8.357M $3.131M
YoY Change 452.8% 166.92%
SHAREHOLDERS EQUITY
Retained Earnings -$8.988M -$7.617M -$2.090M
YoY Change 131.1% 264.52%
Common Stock $228.00 $228.00 $228.00
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$8.987M -$7.617M -$2.089M
YoY Change
Total Liabilities & Shareholders Equity $39.96M $39.09M $78.32M
YoY Change -49.39% -50.09%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income $164.3K $26.53K -$208.7K
YoY Change -120.13% -112.71% 20765.3%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$350.2K -$42.82M -$109.4K
YoY Change -1.29% 39042.23%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$153.4K $42.16M $0.00
YoY Change -80.15%
Cash From Investing Activities -$153.4K $42.16M $0.00
YoY Change -80.15%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 738.3K 375.0K 0.000
YoY Change -4.46%
NET CHANGE
Cash From Operating Activities -350.2K -42.82M -109.4K
Cash From Investing Activities -153.4K 42.16M 0.000
Cash From Financing Activities 738.3K 375.0K 0.000
Net Change In Cash 234.7K -280.3K -109.4K
YoY Change -166.15% 156.19%
FREE CASH FLOW
Cash From Operating Activities -$350.2K -$42.82M -$109.4K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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dei Document Period End Date
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Welsbach Technology Metals Acquisition Corp.
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0.01
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Use of Estimates</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The preparation of unaudited condensed consolidated 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 unaudited condensed consolidated financial statements. Making estimates requires management to exercise significant judgment. Such estimates may be subject to change as more current information becomes available and accordingly the actual results could differ significantly from those estimates. 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 consolidated financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Actual results could differ from those estimates.</p>
CY2023Q2 us-gaap Assets Held In Trust
AssetsHeldInTrust
42636600 usd
CY2022Q4 wtma Franchise Taxes
FranchiseTaxes
85232 usd
us-gaap Withdrawal From Contract Holders Funds
WithdrawalFromContractHoldersFunds
213182 usd
CY2023Q2 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
142851 usd
CY2023Q2 wtma Balance Amount
BalanceAmount
70331 usd
CY2022Q4 wtma Balance Amount
BalanceAmount
213182 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Concentration of Credit Risk</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">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. As of June 30, 2023, the Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such account.</p>
CY2023Q2 us-gaap Other Commitment
OtherCommitment
150000000 usd
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
10
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
usd
CY2022Q2 us-gaap Restricted Cash
RestrictedCash
usd
CY2023Q2 us-gaap Deferred Offering Costs
DeferredOfferingCosts
usd
CY2023Q2 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.7816 pure
CY2022Q2 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0 pure
us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
4.4973 pure
us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0 pure
CY2023Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2022Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2023Q1 us-gaap Excess Stock Shares Issued
ExcessStockSharesIssued
4097964 shares
CY2023Q1 us-gaap Preferred Stock Redemption Price Per Share
PreferredStockRedemptionPricePerShare
10.4
CY2023Q1 wtma Assets Held In Trust Accounts
AssetsHeldInTrustAccounts
80400000 usd
CY2023Q2 us-gaap Payable Common Stock Redeemed
PayableCommonStockRedeemed
42636600 usd
us-gaap Sale Leaseback Transaction Net Proceeds Financing Activities
SaleLeasebackTransactionNetProceedsFinancingActivities
79514266 usd
CY2022 us-gaap Sale Leaseback Transaction Net Proceeds Financing Activities
SaleLeasebackTransactionNetProceedsFinancingActivities
77276860 usd
CY2022 wtma Fair Value Of Public Rights At Issuance
FairValueOfPublicRightsAtIssuance
2627413 usd
CY2022 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
4626437 usd
us-gaap Temporary Equity Other Changes
TemporaryEquityOtherChanges
-42636600 usd
wtma Accretion Of Carrying Value To Redemption Value
AccretionOfCarryingValueToRedemptionValue
1473655 usd
CY2022 wtma Accretion Of Carrying Value To Redemption Value
AccretionOfCarryingValueToRedemptionValue
9491256 usd
wtma Redeemable Ordinary Shares Subject To Possible Redemption
RedeemableOrdinarySharesSubjectToPossibleRedemption
38351321 usd
CY2022 wtma Redeemable Ordinary Shares Subject To Possible Redemption
RedeemableOrdinarySharesSubjectToPossibleRedemption
79514266 usd
CY2021Q4 us-gaap Sponsor Fees
SponsorFees
10000 usd
CY2023Q2 us-gaap Sponsor Fees
SponsorFees
30000 usd
CY2022Q2 us-gaap Sponsor Fees
SponsorFees
30000 usd
us-gaap Sponsor Fees
SponsorFees
60000 usd
wtma Underwriting Discount
UnderwritingDiscount
0.2
CY2023Q1 us-gaap Excess Stock Shares Issued
ExcessStockSharesIssued
4097964 shares
CY2023Q1 wtma Redemption Price Per Shares
RedemptionPricePerShares
10.4
CY2022Q1 wtma Aggregate Purchase Price
AggregatePurchasePrice
45540 usd
CY2022Q1 wtma Forfeited Shares
ForfeitedShares
224328 shares
wtma Limited Exception
LimitedException
0.50 pure
CY2022Q1 us-gaap Sale Of Stock Consideration Received Per Transaction
SaleOfStockConsiderationReceivedPerTransaction
259136 usd
CY2023Q2 us-gaap Business Acquisition Preacquisition Contingency Amount Of Settlement
BusinessAcquisitionPreacquisitionContingencyAmountOfSettlement
239663 usd
CY2022Q4 us-gaap Financing Receivable Revolving
FinancingReceivableRevolving
205663 usd
wtma Working Capital Loans
WorkingCapitalLoans
1500000 usd
CY2022Q3 wtma Principal Amount Of Sponsor
PrincipalAmountOfSponsor
772769 usd
CY2022Q3 wtma Business Combination Into Additional Private Units
BusinessCombinationIntoAdditionalPrivateUnits
10 usd
CY2022Q4 wtma Principal Amount Of Sponsor
PrincipalAmountOfSponsor
772769 usd
CY2022Q4 wtma Business Combination Into Additional Private Units
BusinessCombinationIntoAdditionalPrivateUnits
10 usd
CY2023Q1 wtma Principal Amount Of Sponsor
PrincipalAmountOfSponsor
125000 usd
CY2023Q1 wtma Business Combination Into Additional Private Units
BusinessCombinationIntoAdditionalPrivateUnits
10 usd
wtma Post Business Combination Price Per Unit
PostBusinessCombinationPricePerUnit
10
wtma Balance Outstanding Promisorry Note
BalanceOutstandingPromisorryNote
2045537 usd
CY2022 wtma Balance Outstanding Promisorry Note
BalanceOutstandingPromisorryNote
1545537 usd
CY2023Q2 wtma Principal Amount
PrincipalAmount
125000 usd
CY2023Q2 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
124166 usd
CY2023Q2 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
25000 usd
us-gaap Sponsor Fees
SponsorFees
99166 usd
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q2 us-gaap Assets Held In Trust
AssetsHeldInTrust
42636600 usd
CY2023Q2 us-gaap Other Interest Earning Assets
OtherInterestEarningAssets
837367 usd
CY2023Q2 us-gaap Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
298414 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
70331 usd
CY2022Q4 us-gaap Accounts And Other Receivables Net Current
AccountsAndOtherReceivablesNetCurrent
usd
CY2022Q1 wtma Forfeiture Of Shares By Sponsor To The Extent The Overallotment Option Was Not Exercised In Full
ForfeitureOfSharesBySponsorToTheExtentTheOverallotmentOptionWasNotExercisedInFull
usd
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
usd
us-gaap Origination Of Notes Receivable From Related Parties
OriginationOfNotesReceivableFromRelatedParties
usd
us-gaap Repayment Of Notes Receivable From Related Parties
RepaymentOfNotesReceivableFromRelatedParties
usd
us-gaap Proceeds From Decommissioning Fund
ProceedsFromDecommissioningFund
usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
usd
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
usd
wtma Initial Value Of Class A Common Stock Subject To Possible Redemption
InitialValueOfClassACommonStockSubjectToPossibleRedemption
usd
wtma Fair Value Of Public Rights At Issuance
FairValueOfPublicRightsAtIssuance
usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
usd
CY2022 us-gaap Temporary Equity Other Changes
TemporaryEquityOtherChanges
usd
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Central Index Key
EntityCentralIndexKey
0001866226

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