2023 Q1 Form 10-Q Financial Statement

#000121390023039788 Filed on May 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit $9.460M
YoY Change
Gross Profit Margin
Selling, General & Admin $609.6K $413.8K
YoY Change 47.31% 300.18%
% of Gross Profit 6.44%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $910.0K
YoY Change
% of Gross Profit 9.62%
Operating Expenses $609.6K $413.8K
YoY Change 47.31% 300.18%
Operating Profit -$609.6K -$413.8K
YoY Change 47.31%
Interest Expense $85.15K $53.77K
YoY Change 58.36% -102.89%
% of Operating Profit
Other Income/Expense, Net $100.0K $3.772M
YoY Change -97.35% 2635.23%
Pretax Income -$1.594M $3.412M
YoY Change -146.7% -287.18%
Income Tax $100.0K
% Of Pretax Income
Net Earnings -$1.594M $3.412M
YoY Change -146.7% -287.17%
Net Earnings / Revenue
Basic Earnings Per Share -$0.11
Diluted Earnings Per Share -$0.17 $110.3K
COMMON SHARES
Basic Shares Outstanding 21.80M
Diluted Shares Outstanding 21.80M

Balance Sheet

Concept 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $25.00K $25.00K
YoY Change 0.0% 0.0%
Cash & Equivalents $25.00K $25.00K
Short-Term Investments
Other Short-Term Assets $460.6K $44.63K
YoY Change 932.0% -95.32%
Inventory
Prepaid Expenses $460.6K
Receivables
Other Receivables
Total Short-Term Assets $485.6K $69.63K
YoY Change 597.37% -92.88%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $15.47M $225.6M
YoY Change -93.14% -9.75%
Other Assets $570.8K
YoY Change
Total Long-Term Assets $15.47M $226.2M
YoY Change -93.16% -9.52%
TOTAL ASSETS
Total Short-Term Assets $485.6K $69.63K
Total Long-Term Assets $15.47M $226.2M
Total Assets $15.96M $226.3M
YoY Change -92.95% -9.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $1.340M $815.5K
YoY Change 64.34% 3744.88%
Deferred Revenue
YoY Change
Short-Term Debt $9.121M $5.452M
YoY Change 67.28% 972.85%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $10.60M $6.889M
YoY Change 53.92% 1141.14%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.434M $4.066M
YoY Change -15.56% -59.49%
Total Long-Term Liabilities $3.434M $4.066M
YoY Change -15.56% -59.49%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.60M $6.889M
Total Long-Term Liabilities $3.434M $4.066M
Total Liabilities $14.04M $10.95M
YoY Change 28.13% 3.43%
SHAREHOLDERS EQUITY
Retained Earnings -$13.90M
YoY Change
Common Stock $554.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$13.45M -$10.31M
YoY Change
Total Liabilities & Shareholders Equity $15.96M $226.3M
YoY Change -92.95% -9.85%

Cashflow Statement

Concept 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$1.594M $3.412M
YoY Change -146.7% -287.17%
Depreciation, Depletion And Amortization $910.0K
YoY Change
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures $622.0K
YoY Change
Acquisitions
YoY Change
Other Investing Activities $16.32M $24.40M
YoY Change -33.11% -109.76%
Cash From Investing Activities $16.32M $24.40M
YoY Change -33.11% -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 -$16.34M -24.40M
YoY Change -33.04% -109.76%
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities $16.32M 24.40M
Cash From Financing Activities -$16.34M -24.40M
Net Change In Cash -$16.15K $0.00
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures $622.0K
Free Cash Flow -$622.0K
YoY Change

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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 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 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 unaudited condensed 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. Any loss incurred or lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations and cash flows. For the three months ended March 31, 2023 and 2022, 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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●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.  
CY2023Q1 us-gaap Warrant Exercise Price Decrease
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0.01
CY2023Q1 us-gaap Share Price
SharePrice
18
CY2023Q1 cffe Fps Commitment
FPSCommitment
10000000 usd
CY2023Q1 us-gaap Commitments Fair Value Disclosure
CommitmentsFairValueDisclosure
10000000 usd
CY2023Q1 cffe Business Combination
BusinessCombination
0.80 pure
CY2022 cffe Business Combination
BusinessCombination
0.80 pure
CY2023Q1 dei Entity Registrant Name
EntityRegistrantName
CF Acquisition Corp. VIII
CY2022Q4 us-gaap Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
usd
CY2023Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
usd
CY2022Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
usd
CY2023Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
CY2022Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
CY2023Q1 us-gaap Preferred Stock Value
PreferredStockValue
usd
CY2022Q4 us-gaap Preferred Stock Value
PreferredStockValue
usd
CY2023Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
shares
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
shares
CY2023Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
shares
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
shares
CY2023Q1 cffe Share Conversion1
ShareConversion1
usd
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
usd
CY2022Q1 us-gaap Interest Expense Debt
InterestExpenseDebt
usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
usd
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
usd
CY2022Q1 us-gaap Proceeds From Repayments Of Bank Overdrafts
ProceedsFromRepaymentsOfBankOverdrafts
usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
usd
CY2022Q1 cffe Prepaid Expenses Paid With Payables To Related Party
PrepaidExpensesPaidWithPayablesToRelatedParty
usd
CY2023Q1 dei Amendment Flag
AmendmentFlag
false
CY2023Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2023Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2023Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001839530

Files In Submission

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0001213900-23-039788-index-headers.html Edgar Link pending
0001213900-23-039788-index.html Edgar Link pending
0001213900-23-039788.txt Edgar Link pending
0001213900-23-039788-xbrl.zip Edgar Link pending
cffe-20230331.xsd Edgar Link pending
f10q0323ex10-1_cfacq8.htm Edgar Link pending
f10q0323ex31-1_cfacq8.htm Edgar Link pending
f10q0323ex31-2_cfacq8.htm Edgar Link pending
f10q0323ex32-1_cfacq8.htm Edgar Link pending
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f10q0323_cfacq8.htm Edgar Link pending
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cffe-20230331_lab.xml Edgar Link unprocessable
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