2022 Q4 Form 10-K Financial Statement

#000121390023024115 Filed on March 29, 2023

View on sec.gov

Income Statement

Concept 2022 Q4 2022 2021
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit $43.71M
YoY Change
Gross Profit Margin
Selling, General & Admin $768.7K $2.884M $2.736M
YoY Change -22.44% 5.43%
% of Gross Profit 6.6%
Research & Development $1.100M
YoY Change
% of Gross Profit 2.52%
Depreciation & Amortization $4.390M
YoY Change
% of Gross Profit 10.04%
Operating Expenses $768.7K $2.884M $2.736M
YoY Change -22.44% 5.43%
Operating Profit -$2.884M -$2.736M
YoY Change 5.43%
Interest Expense -$462.8K $742.8K -$1.989M
YoY Change -89092.31% -137.35%
% of Operating Profit
Other Income/Expense, Net $30.99K $100.0K $3.017M
YoY Change -98.2% -96.69%
Pretax Income -$1.201M $2.505M -$1.708M
YoY Change -263.85% -246.65%
Income Tax -$27.59K $111.0K
% Of Pretax Income 4.43%
Net Earnings -$1.173M $2.394M -$1.708M
YoY Change -260.08% -240.15%
Net Earnings / Revenue
Basic Earnings Per Share -$0.36
Diluted Earnings Per Share -$0.12 $0.25 -$64.54K
COMMON SHARES
Basic Shares Outstanding 21.80M
Diluted Shares Outstanding 21.80M

Balance Sheet

Concept 2022 Q4 2022 2021
SHORT-TERM ASSETS
Cash & Short-Term Investments $41.15K $41.15K $25.00K
YoY Change 64.6% 64.6% -16.67%
Cash & Equivalents $41.15K
Short-Term Investments
Other Short-Term Assets $210.2K $210.2K $195.5K
YoY Change 7.56% 7.56%
Inventory $4.526M
Prepaid Expenses $210.2K
Receivables $35.98M
Other Receivables
Total Short-Term Assets $251.4K $251.4K $220.5K
YoY Change 14.03% 14.03% 634.87%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill $22.06M
YoY Change -7.89%
Intangibles $1.529M
YoY Change
Long-Term Investments $31.45M $31.45M $250.0M
YoY Change -87.42% -87.42%
Other Assets $0.00 $570.8K
YoY Change -100.0%
Total Long-Term Assets $31.45M $31.45M $250.6M
YoY Change -87.45% -87.45%
TOTAL ASSETS
Total Short-Term Assets $251.4K $251.4K $220.5K
Total Long-Term Assets $31.45M $31.45M $250.6M
Total Assets $31.70M $31.70M $250.8M
YoY Change -87.36% -87.36% 835929.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $16.86M
YoY Change
Accrued Expenses $1.190M $1.260M $1.349M
YoY Change -11.82% -6.63%
Deferred Revenue $5.660M
YoY Change -1.74%
Short-Term Debt $8.200M $8.200M $734.4K
YoY Change 1016.53% 1016.53%
Long-Term Debt Due $4.970M
YoY Change
Total Short-Term Liabilities $9.460M $9.460M $2.854M
YoY Change 231.41% 231.41%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.683M $2.683M $7.307M
YoY Change -63.28% -63.28%
Total Long-Term Liabilities $2.683M $2.683M $7.307M
YoY Change -63.28% -63.28%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.460M $9.460M $2.854M
Total Long-Term Liabilities $2.683M $2.683M $7.307M
Total Liabilities $12.14M $12.14M $10.16M
YoY Change 19.5% 19.5%
SHAREHOLDERS EQUITY
Retained Earnings -$12.31M
YoY Change 29.6%
Common Stock $54.00
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$11.62M $19.55M $240.6M
YoY Change
Total Liabilities & Shareholders Equity $31.70M $31.70M $250.8M
YoY Change -87.36% -87.36% 835929.93%

Cashflow Statement

Concept 2022 Q4 2022 2021
OPERATING ACTIVITIES
Net Income -$1.173M $2.394M -$1.708M
YoY Change -260.08% -240.15%
Depreciation, Depletion And Amortization $4.390M
YoY Change
Cash From Operating Activities $0.00
YoY Change
INVESTING ACTIVITIES
Capital Expenditures $6.366M
YoY Change
Acquisitions
YoY Change
Other Investing Activities $28.16K $219.8M -$250.0M
YoY Change -187.92%
Cash From Investing Activities $28.16K $219.8M -$250.0M
YoY Change -187.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -252.2K -$219.8M 250.0M
YoY Change -187.92% 833233.33%
NET CHANGE
Cash From Operating Activities 0.000
Cash From Investing Activities 28.16K $219.8M -250.0M
Cash From Financing Activities -252.2K -$219.8M 250.0M
Net Change In Cash -224.0K $16.15K $0.00
YoY Change -100.0%
FREE CASH FLOW
Cash From Operating Activities $0.00
Capital Expenditures $6.366M
Free Cash Flow -$6.366M
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2022 dei Entity File Number
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001-40206
CY2022 dei Entity Registrant Name
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CF ACQUISITION CORP. VIII
CY2022 dei Entity Incorporation State Country Code
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DE
CY2022 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
85-2002883
CY2022 dei Entity Address Address Line1
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110 East 59th Street
CY2022 dei Document Type
DocumentType
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CY2022 dei Document Annual Report
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2022-12-31
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Class A common stock, par value $0.0001 per share
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CY2022 cffe Liquidity And Capital Resource Description
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The Company’s liquidity needs through December 31, 2022 have been satisfied through a contribution of $25,000 from the Sponsor in exchange for the issuance of the Founder Shares, a loan of approximately $79,000 from the Sponsor pursuant to a promissory note (the “Pre-IPO Note”) (see Note 4), the proceeds from the sale of the Private Placement Units not held in the Trust Account, the Sponsor Loan (as defined below), the First Working Capital Loan (as defined below) and the Second Working Capital Loan (as defined below).
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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 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 consolidated 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 consolidated 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 consolidated financial statements is the determination of the fair value of the warrant liability, FPS liability, and sponsor loans 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>
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<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 held in the Trust Account. For the years ended December 31, 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>
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