$WTMA
Welsbach Technology Metals Acquisition Corp

2024 Q3 Form 10-Q Financial Statement

#000121390024069059 Filed on August 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $327.7K
YoY Change -13.92%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $327.7K
YoY Change -13.92%
Operating Profit
YoY Change
Interest Expense $258.6K
YoY Change -48.49%
% of Operating Profit
Other Income/Expense, Net $258.6K
YoY Change -48.49%
Pretax Income -$69.02K
YoY Change -156.82%
Income Tax $26.25K
% Of Pretax Income
Net Earnings -$95.27K
YoY Change -459.14%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$0.02
COMMON SHARES
Basic Shares Outstanding 3.367M shares 4.457M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.560K
YoY Change 1119.05%
Cash & Equivalents $2.564K
Short-Term Investments
Other Short-Term Assets $40.50K
YoY Change -38.48%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $43.06K
YoY Change -73.93%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles $5.000M
YoY Change 0.0%
Long-Term Investments $24.27M
YoY Change -37.54%
Other Assets $168.0K
YoY Change 138.89%
Total Long-Term Assets $24.44M
YoY Change -37.22%
TOTAL ASSETS
Total Short-Term Assets $43.06K
Total Long-Term Assets $24.44M
Total Assets $24.48M
YoY Change -37.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.800M
YoY Change 5.7%
Accrued Expenses $186.8K
YoY Change -32.07%
Deferred Revenue
YoY Change
Short-Term Debt $3.397M
YoY Change 66.07%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $19.70M
YoY Change 248.51%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $2.705M
YoY Change 0.0%
Total Long-Term Liabilities $2.705M
YoY Change 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $19.70M
Total Long-Term Liabilities $2.705M
Total Liabilities $22.40M
YoY Change 168.08%
SHAREHOLDERS EQUITY
Retained Earnings -$9.919M
YoY Change 30.21%
Common Stock $228.00
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$9.918M
YoY Change
Total Liabilities & Shareholders Equity $24.48M
YoY Change -37.38%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$95.27K
YoY Change -459.14%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$194.6K
YoY Change -99.55%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $19.17K
YoY Change -99.95%
Cash From Investing Activities $19.17K
YoY Change -99.95%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 177.8K
YoY Change -52.59%
NET CHANGE
Cash From Operating Activities -194.6K
Cash From Investing Activities 19.17K
Cash From Financing Activities 177.8K
Net Change In Cash 2.360K
YoY Change -100.84%
FREE CASH FLOW
Cash From Operating Activities -$194.6K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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dei Document Type
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dei Document Quarterly Report
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dei Document Period End Date
DocumentPeriodEndDate
2024-06-30
dei Document Fiscal Year Focus
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dei Document Transition Report
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dei Entity File Number
EntityFileNumber
001-41183
dei Entity Registrant Name
EntityRegistrantName
Welsbach Technology Metals Acquisition Corp.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
87-1006702
dei Entity Address Address Line1
EntityAddressAddressLine1
4422 N. Ravenswood Ave #1025
dei Entity Address City Or Town
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dei Entity Address State Or Province
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IL
dei Entity Address Postal Zip Code
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dei City Area Code
CityAreaCode
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dei Local Phone Number
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dei Entity Current Reporting Status
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us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><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>
wtma Cash Withdrawn From Trust Account To Pay Franchise And Income Taxes
CashWithdrawnFromTrustAccountToPayFranchiseAndIncomeTaxes
19173 usd
wtma Withdrawn Trust Account For Taxes
WithdrawnTrustAccountForTaxes
760186 usd
wtma Payment Of Franchise Taxes
PaymentOfFranchiseTaxes
592174 usd
CY2023 wtma Withdrawn Trust Account For Taxes
WithdrawnTrustAccountForTaxes
741013 usd
CY2023 wtma Franchise And Income Taxes
FranchiseAndIncomeTaxes
579564 usd
CY2024Q2 us-gaap Restricted Cash
RestrictedCash
168012 usd
CY2023Q4 us-gaap Restricted Cash
RestrictedCash
161449 usd
wtma Offering Costs Associated With The Ipo And Overallotment
OfferingCostsAssociatedWithTheIPOAndOverallotment
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Offering Costs associated with the IPO and over-allotment</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Offering costs consist principally of legal, accounting, underwriting fees and other costs directly related to the IPO. Offering costs of the IPO amounted to $4,663,218, which was charged against additional paid-in capital and common stock subject to redemption upon the completion of the IPO. Subsequently, additional offering cost of $125,228 was incurred with the Over-allotment in January 2022 and was also charged against additional paid-in capital and common stock subject to redemption in January 2022.</p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><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, 2024, the Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such account.</p>
CY2024Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.3803 pure
CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.7816 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.2693 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
4.4973 pure
CY2024Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2023Q2 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 wtma Aggregate Redemption Amount
AggregateRedemptionAmount
42600000 usd
CY2023Q3 wtma Exercised Redeem Shares
ExercisedRedeemShares
1456871 shares
CY2023Q3 wtma Aggregate Redemption Amount
AggregateRedemptionAmount
15700000 usd
CY2024Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1090062 shares
CY2024Q2 us-gaap Temporary Equity Aggregate Amount Of Redemption Requirement
TemporaryEquityAggregateAmountOfRedemptionRequirement
12220000 usd
CY2024Q2 wtma Approximate Amount Of Assets Held In Trust
ApproximateAmountOfAssetsHeldInTrust
12060000.00 usd
CY2024Q2 us-gaap Assets Held In Trust
AssetsHeldInTrust
24280000 usd
CY2024Q2 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
1082789 shares
CY2023Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
23850678 usd
wtma Redemption Of Common Stock
RedemptionOfCommonStock
-12219791 usd
us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
364800 usd
CY2024Q2 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
11995687 usd
CY2024Q2 wtma Number Of Shares Issued Per Unit
NumberOfSharesIssuedPerUnit
1 shares
CY2024Q2 wtma Number Of Shares Right To Receive
NumberOfSharesRightToReceive
1 shares
CY2024Q2 wtma Number Of Shares Issued Per Unit
NumberOfSharesIssuedPerUnit
1 shares
CY2024Q2 wtma Number Of Shares Right To Receive
NumberOfSharesRightToReceive
1 shares
CY2022Q1 wtma Aggregate Purchase Price
AggregatePurchasePrice
45540 usd
wtma Limited Exception
LimitedException
0.50 pure
wtma Transfer Assign Or Sell Any Shares Or Warrants After Completion Of Initial Business Combination Threshold Trading Days
TransferAssignOrSellAnySharesOrWarrantsAfterCompletionOfInitialBusinessCombinationThresholdTradingDays
P20D
wtma Transfer Assign Or Sell Any Shares Or Warrants After Completion Of Initial Business Combination Threshold Consecutive Trading Days
TransferAssignOrSellAnySharesOrWarrantsAfterCompletionOfInitialBusinessCombinationThresholdConsecutiveTradingDays
P30D
CY2022Q1 us-gaap Sale Of Stock Consideration Received Per Transaction
SaleOfStockConsiderationReceivedPerTransaction
259136 usd
us-gaap Professional And Contract Services Expense
ProfessionalAndContractServicesExpense
60000 usd
CY2023 us-gaap Professional And Contract Services Expense
ProfessionalAndContractServicesExpense
120000 usd
CY2023 wtma Due To Affiliates
DueToAffiliates
88000 usd
CY2023 us-gaap Sponsor Fees
SponsorFees
6000 usd
CY2023 wtma Accrued Services
AccruedServices
26000 usd
CY2024Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
353663 usd
CY2023Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
293663 usd
wtma Working Capital Loans
WorkingCapitalLoans
1500000 usd
wtma Balance Outstanding Working Capital Notes
BalanceOutstandingWorkingCapitalNotes
1100610 usd
CY2023 wtma Balance Outstanding Working Capital Notes
BalanceOutstandingWorkingCapitalNotes
549100 usd
wtma Balance Outstanding Promisorry Note
BalanceOutstandingPromisorryNote
2296371 usd
CY2023 wtma Balance Outstanding Promisorry Note
BalanceOutstandingPromisorryNote
2296371 usd
CY2021Q4 us-gaap Sponsor Fees
SponsorFees
10000 usd
CY2024Q2 wtma Underwriting Fee Per Unit
UnderwritingFeePerUnit
0.2
CY2024Q2 wtma Sale Of Stock Underwriting Fees
SaleOfStockUnderwritingFees
1545537 usd
wtma Additional Underwriting Payable Per Share
AdditionalUnderwritingPayablePerShare
0.35
CY2024Q2 wtma Deferred Underwriting Fee Payable Non Current
DeferredUnderwritingFeePayableNonCurrent
2704690 usd
us-gaap Net Shares Reclassified To Mandatorily Redeemable Capital Stock Shares
NetSharesReclassifiedToMandatorilyRedeemableCapitalStockShares
2432185 shares
CY2024Q2 wtma Number Of Non Redeemable Ordinary Shares
NumberOfNonRedeemableOrdinaryShares
1125000 shares
CY2024Q2 wtma Sponsor Agreed To Issue Number Of Shares To Consummation Of Initial Business Combination
SponsorAgreedToIssueNumberOfSharesToConsummationOfInitialBusinessCombination
337500 shares
CY2023Q3 wtma Founder Shares
FounderShares
500000 shares
CY2023Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
100000 shares
CY2024Q2 us-gaap Assets Held In Trust Current
AssetsHeldInTrustCurrent
10000000 usd
wtma Nonaffiliate Holders Shares
NonaffiliateHoldersShares
450000 shares
wtma Fee Shares Issued
FeeSharesIssued
100000 shares
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
2283976 shares
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
2283976 shares
CY2024Q2 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
1082789 shares
wtma Cash Withdrawn From Trust Account In Connection With Redemption
CashWithdrawnFromTrustAccountInConnectionWithRedemption
58351987 usd
wtma Interest Earned On The Trust Account
InterestEarnedOnTheTrustAccount
1391640 usd
wtma Interest Earned On Trust Account To Pay Franchise And Income Taxes
InterestEarnedOnTrustAccountToPayFranchiseAndIncomeTaxes
760186 usd
CY2024Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
168012 usd
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
usd
CY2023Q4 us-gaap Redeemable Noncontrolling Interest Equity Common Redemption Value
RedeemableNoncontrollingInterestEquityCommonRedemptionValue
usd
CY2024Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
CY2023Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
CY2024Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
usd
CY2023Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
usd
us-gaap Payments To Invest In Decommissioning Fund
PaymentsToInvestInDecommissioningFund
usd
us-gaap Origination Of Notes Receivable From Related Parties
OriginationOfNotesReceivableFromRelatedParties
usd
us-gaap Repayment Of Notes Receivable From Related Parties
RepaymentOfNotesReceivableFromRelatedParties
usd
wtma Proceeds From Trust Accounts In Connection With Redemption
ProceedsFromTrustAccountsInConnectionWithRedemption
usd
wtma Proceeds From Trust Accounts To Pay Franchise And Federal Income Taxes
ProceedsFromTrustAccountsToPayFranchiseAndFederalIncomeTaxes
usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
usd
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
usd
wtma Excise Tax On Redemption Of Common Stock
ExciseTaxOnRedemptionOfCommonStock
usd
wtma Due To Stockholder For Redemption Of Common Stock
DueToStockholderForRedemptionOfCommonStock
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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