2022 Q2 Form 10-Q Financial Statement

#000121390022048087 Filed on August 15, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1 2021 Q4
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $513.0K $413.8K $991.2K
YoY Change 23.91% 300.18%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $513.0K $413.8K $991.2K
YoY Change 23.91% 300.18%
Operating Profit -$513.0K -$413.8K
YoY Change 23.91%
Interest Expense $1.090M $53.77K $520.00
YoY Change -553.75% -102.89%
% of Operating Profit
Other Income/Expense, Net $429.1K $3.772M $1.723M
YoY Change -60.7% 2635.23%
Pretax Income $1.006M $3.412M $732.7K
YoY Change 129.76% -287.18%
Income Tax $40.00K
% Of Pretax Income 3.98%
Net Earnings $965.4K $3.412M $732.7K
YoY Change 120.56% -287.17%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share $33.39K $110.3K $23.01K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q2 2022 Q1 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.475M $25.00K $25.00K
YoY Change 2132.07% 0.0%
Cash & Equivalents $1.475M $25.00K $25.00K
Short-Term Investments
Other Short-Term Assets $284.3K $44.63K $195.5K
YoY Change -61.1% -95.32%
Inventory
Prepaid Expenses $284.3K $195.5K
Receivables $35.11M
Other Receivables
Total Short-Term Assets $1.759M $69.63K $220.5K
YoY Change 120.73% -92.88%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill $23.95M
YoY Change
Intangibles
YoY Change
Long-Term Investments $225.7M $225.6M $250.0M
YoY Change -9.71% -9.75%
Other Assets $570.8K $570.8K
YoY Change
Total Long-Term Assets $225.7M $226.2M $250.6M
YoY Change -9.91% -9.52%
TOTAL ASSETS
Total Short-Term Assets $1.759M $69.63K $220.5K
Total Long-Term Assets $225.7M $226.2M $250.6M
Total Assets $227.5M $226.3M $250.8M
YoY Change -9.5% -9.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $173.6K $815.5K $1.349M
YoY Change 251.09% 3744.88%
Deferred Revenue $5.760M
YoY Change
Short-Term Debt $6.902M $5.452M $734.4K
YoY Change 1017.65% 972.85%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $8.560M $6.889M $2.854M
YoY Change 536.72% 1141.14%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.980M $4.066M $7.307M
YoY Change -67.58% -59.49%
Total Long-Term Liabilities $2.980M $4.066M $7.307M
YoY Change -67.58% -59.49%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.560M $6.889M $2.854M
Total Long-Term Liabilities $2.980M $4.066M $7.307M
Total Liabilities $11.54M $10.95M $10.16M
YoY Change 9.54% 3.43%
SHAREHOLDERS EQUITY
Retained Earnings -$9.350M -$9.499M
YoY Change
Common Stock $54.00 $54.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$9.678M -$10.31M -$9.352M
YoY Change
Total Liabilities & Shareholders Equity $227.5M $226.3M $250.8M
YoY Change -9.5% -9.85%

Cashflow Statement

Concept 2022 Q2 2022 Q1 2021 Q4
OPERATING ACTIVITIES
Net Income $965.4K $3.412M $732.7K
YoY Change 120.56% -287.17%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $0.00 $0.00
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $24.40M $0.00
YoY Change -109.76%
Cash From Investing Activities $0.00 $24.40M $0.00
YoY Change -109.76%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.450M -24.40M 0.000
YoY Change 3429.9% -109.76%
NET CHANGE
Cash From Operating Activities 0.000 0.000
Cash From Investing Activities 0.000 24.40M 0.000
Cash From Financing Activities 1.450M -24.40M 0.000
Net Change In Cash 1.450M $0.00 0.000
YoY Change 3429.9%
FREE CASH FLOW
Cash From Operating Activities $0.00 $0.00
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2022-06-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2022
dei Document Transition Report
DocumentTransitionReport
false
dei Entity Registrant Name
EntityRegistrantName
CF ACQUISITION CORP. VIII
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity File Number
EntityFileNumber
001-40206
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
85-2002883
dei Entity Address Address Line1
EntityAddressAddressLine1
110 East 59th Street
dei Entity Address City Or Town
EntityAddressCityOrTown
New York
dei Entity Address State Or Province
EntityAddressStateOrProvince
NY
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
10022
dei City Area Code
CityAreaCode
(212)
dei Local Phone Number
LocalPhoneNumber
938-5000
dei Security12b Title
Security12bTitle
Class A common stock, par value $0.0001 per share
dei Trading Symbol
TradingSymbol
CFFE
dei Security Exchange Name
SecurityExchangeName
NASDAQ
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
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us-gaap Use Of Estimates
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Use of Estimates</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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. 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. One of the more significant accounting estimates included in these unaudited condensed financial statements is the determination of the fair value of the warrant liability and FPS liability. Such estimates may be subject to change as more current information becomes available and accordingly, the actual results could differ significantly from those estimates.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Concentration of Credit Risk</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial instruments that potentially subject the Company to concentration of credit risk consist of cash accounts in a financial institution which, at times, may exceed the Federal Deposit Insurance Corporation maximum coverage limit of $250,000, and cash equivalents and investments in the U.S. government debt securities held in the Trust Account. For the three and six months ended June 30, 2022 and 2021, the Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">  </p>
CY2022Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
40000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
40000 usd
CY2022Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.009 pure
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.009 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2021Q1 cffe Issued And Outstanding Common Stock Percentage
IssuedAndOutstandingCommonStockPercentage
0.20 pure
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
29000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
29000 usd
CY2021Q1 us-gaap Stockholders Equity Note Stock Split
StockholdersEquityNoteStockSplit
On March 11, 2021, the Company effected a 1.1-for-1 stock split
CY2021Q1 cffe Initial Shareholders Holding Percentage
InitialShareholdersHoldingPercentage
0.20 pure
CY2022Q1 us-gaap Temporary Equity Redemption Price Per Share
TemporaryEquityRedemptionPricePerShare
10.2
cffe Working Capital Loans
WorkingCapitalLoans
728000 usd
CY2021 cffe Working Capital Loans
WorkingCapitalLoans
0 usd
CY2022Q2 us-gaap Accounts Payable Related Parties Current And Noncurrent
AccountsPayableRelatedPartiesCurrentAndNoncurrent
1450000 usd
CY2021Q4 us-gaap Accounts Payable Related Parties Current And Noncurrent
AccountsPayableRelatedPartiesCurrentAndNoncurrent
571000 usd
CY2022Q2 cffe Available For Sale In Securities Amortized Cost
AvailableForSaleInSecuritiesAmortizedCost
224485500 usd
cffe Available For Sale In Securities Gross Unrealized Loss
AvailableForSaleInSecuritiesGrossUnrealizedLoss
329250 usd
CY2022Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
224156250 usd
cffe Issued And Outstanding Ordinary Shares Percentage
IssuedAndOutstandingOrdinarySharesPercentage
0.20 pure
CY2021Q1 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1.1-for-1
CY2022Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2022Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
cffe Public Warrants Term
PublicWarrantsTerm
P5Y
us-gaap Debt Instrument Redemption Description
DebtInstrumentRedemptionDescription
●in whole and not in part; ●at a price of $0.01 per warrant;   ●at any time during the exercise period;   ●upon a minimum of 30 days’ prior written notice of redemption;   ●if, and only if, the last reported sale price of the Company’s common stock equals or exceeds $18.00 per share for any 20-trading days within a 30-trading day period ending on the third business day prior to the date on which the Company sends the notice of redemption to the warrant holders; and  ●if, and only if, there is a current registration statement in effect with respect to the shares of common stock underlying such warrants.
us-gaap Equity Fair Value Adjustment
EquityFairValueAdjustment
10000000 usd
CY2022Q2 us-gaap Commitments Fair Value Disclosure
CommitmentsFairValueDisclosure
10000000 usd
cffe Business Of Combination Percentage
BusinessOfCombinationPercentage
0.43 pure
CY2021 cffe Business Of Combination Percentage
BusinessOfCombinationPercentage
0.80 pure
CY2021Q4 us-gaap Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
usd
CY2022Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
usd
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
usd
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
usd
CY2021Q1 us-gaap Stock Issued During Period Value Share Based Compensation Forfeited
StockIssuedDuringPeriodValueShareBasedCompensationForfeited
usd
us-gaap Share Based Compensation
ShareBasedCompensation
usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
usd
us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
usd
cffe Proceeds From Trust Account To Pay Franchise Taxes
ProceedsFromTrustAccountToPayFranchiseTaxes
usd
us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
usd
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
usd
us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
usd
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
usd
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
usd
cffe Prepaid Expenses Paid With Payables To Related Party
PrepaidExpensesPaidWithPayablesToRelatedParty
usd
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
usd
cffe Available For Sale In Securities Gross Unrealized Gains
AvailableForSaleInSecuritiesGrossUnrealizedGains
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
0001839530

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