2022 Q4 Form 10-Q Financial Statement
#000182912622018968 Filed on November 07, 2022
Income Statement
Concept | 2022 Q4 | 2022 Q3 | 2021 Q4 |
---|---|---|---|
Revenue | $0.00 | $0.00 | |
YoY Change | |||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $892.9K | $167.9K | |
YoY Change | |||
% of Gross Profit | |||
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | |||
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | $892.9K | $167.9K | |
YoY Change | |||
Operating Profit | -$167.9K | ||
YoY Change | |||
Interest Expense | $992.5K | $519.8K | |
YoY Change | |||
% of Operating Profit | |||
Other Income/Expense, Net | |||
YoY Change | |||
Pretax Income | $99.60K | $351.9K | |
YoY Change | |||
Income Tax | $182.3K | $103.8K | |
% Of Pretax Income | 183.03% | 29.49% | |
Net Earnings | -$82.70K | $248.1K | |
YoY Change | |||
Net Earnings / Revenue | |||
Basic Earnings Per Share | |||
Diluted Earnings Per Share | -$0.01 | $16.86K | |
COMMON SHARES | |||
Basic Shares Outstanding | 14.72M shares | 14.72M shares | |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2022 Q4 | 2022 Q3 | 2021 Q4 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $235.9K | $354.7K | |
YoY Change | |||
Cash & Equivalents | $235.9K | $354.7K | $196.0K |
Short-Term Investments | |||
Other Short-Term Assets | $84.49K | $167.0K | |
YoY Change | |||
Inventory | |||
Prepaid Expenses | $84.49K | $167.0K | |
Receivables | |||
Other Receivables | $10.85K | ||
Total Short-Term Assets | $331.2K | $521.7K | $295.6K |
YoY Change | 12.04% | ||
LONG-TERM ASSETS | |||
Property, Plant & Equipment | |||
YoY Change | |||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | $116.7M | $115.7M | |
YoY Change | |||
Other Assets | $0.00 | ||
YoY Change | |||
Total Long-Term Assets | $116.7M | $115.7M | $0.00 |
YoY Change | |||
TOTAL ASSETS | |||
Total Short-Term Assets | $331.2K | $521.7K | $295.6K |
Total Long-Term Assets | $116.7M | $115.7M | $0.00 |
Total Assets | $117.0M | $116.2M | $295.6K |
YoY Change | 39474.65% | ||
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | |||
YoY Change | |||
Accrued Expenses | $632.5K | $54.57K | $21.79K |
YoY Change | 2802.98% | ||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $1.129M | $244.0K | $282.4K |
YoY Change | 299.7% | ||
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | |
YoY Change | |||
Other Long-Term Liabilities | $4.025M | $4.025M | |
YoY Change | |||
Total Long-Term Liabilities | $4.025M | $4.025M | |
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $1.129M | $244.0K | $282.4K |
Total Long-Term Liabilities | $4.025M | $4.025M | |
Total Liabilities | $5.154M | $4.269M | $282.4K |
YoY Change | 1725.14% | ||
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$4.823M | -$3.748M | -$11.77K |
YoY Change | 40878.53% | ||
Common Stock | $321.00 | $321.00 | $287.00 |
YoY Change | 11.85% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$4.822M | -$3.747M | $13.23K |
YoY Change | |||
Total Liabilities & Shareholders Equity | $117.0M | $116.2M | $295.6K |
YoY Change | 39474.65% |
Cashflow Statement
Concept | 2022 Q4 | 2022 Q3 | 2021 Q4 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$82.70K | $248.1K | |
YoY Change | |||
Depreciation, Depletion And Amortization | |||
YoY Change | |||
Cash From Operating Activities | -$118.9K | -$31.75K | |
YoY Change | |||
INVESTING ACTIVITIES | |||
Capital Expenditures | |||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | $0.00 | |
YoY Change | |||
Cash From Investing Activities | $0.00 | $0.00 | |
YoY Change | |||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 0.000 | 0.000 | |
YoY Change | |||
NET CHANGE | |||
Cash From Operating Activities | -118.9K | -31.75K | |
Cash From Investing Activities | 0.000 | 0.000 | |
Cash From Financing Activities | 0.000 | 0.000 | |
Net Change In Cash | -118.9K | -31.75K | |
YoY Change | |||
FREE CASH FLOW | |||
Cash From Operating Activities | -$118.9K | -$31.75K | |
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
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MarketableSecuritiesGainLoss
|
658994 | usd | |
us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
166984 | usd | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
32779 | usd | |
us-gaap |
Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
|
127633 | usd | |
YOTAU |
Increase Decrease In Franchise Tax Payable
IncreaseDecreaseInFranchiseTaxPayable
|
51216 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-386461 | usd | |
us-gaap |
Payments To Acquire Investments
PaymentsToAcquireInvestments
|
115000000 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-115000000 | usd | |
us-gaap |
Proceeds From Notes Payable
ProceedsFromNotesPayable
|
250000 | usd | |
us-gaap |
Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
|
115000000 | usd | |
us-gaap |
Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
|
3435000 | usd | |
us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
250000 | usd | |
YOTAU |
Payment Of Underwriters Commissions
PaymentOfUnderwritersCommissions
|
2300000 | usd | |
YOTAU |
Payment Of Deferred Offering Costs
PaymentOfDeferredOfferingCosts
|
339802 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
115545198 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
250000 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
158737 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
250000 | usd | |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
196000 | usd |
CY2022Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
354737 | usd |
CY2021Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
250000 | usd |
YOTAU |
Initial Classification Of Common Stock Subject To Redemption
InitialClassificationOfCommonStockSubjectToRedemption
|
106030000 | usd | |
YOTAU |
Deferred Underwriting Fees
DeferredUnderwritingFees
|
4025000 | usd | |
YOTAU |
Remeasurement Of Common Stock To Redemptions Value
RemeasurementOfCommonStockToRedemptionsValue
|
15865772 | usd | |
YOTAU |
Transaction Costs
TransactionCosts
|
6764402 | usd | |
YOTAU |
Underwriting Fees
UnderwritingFees
|
2300000 | usd | |
YOTAU |
Deferred Underwriting Fees
DeferredUnderwritingFees
|
4025000 | usd | |
YOTAU |
Other Offering Costs
OtherOfferingCosts
|
439402 | usd | |
CY2022Q2 | YOTAU |
Proceeds From Ipo And Private Placement
ProceedsFromIpoAndPrivatePlacement
|
115000000 | usd |
YOTAU |
Percentage Of Asset Held In Trust Account
PercentageOfAssetHeldInTrustAccount
|
0.80 | pure | |
CY2022Q3 | YOTAU |
Business Combination Percentage Of Voting Securities
BusinessCombinationPercentageOfVotingSecurities
|
0.50 | pure |
CY2022Q3 | us-gaap |
Sale Of Stock Price Per Share
SaleOfStockPricePerShare
|
10.00 | |
CY2022Q3 | YOTAU |
Net Tangible Assets
NetTangibleAssets
|
5000001 | usd |
CY2022Q3 | us-gaap |
Deposits
Deposits
|
1000000 | usd |
CY2022Q3 | us-gaap |
Share Price
SharePrice
|
0.10 | |
YOTAU |
Aggregate Amount
AggregateAmount
|
2000000 | usd | |
YOTAU |
Issued Shares Description
IssuedSharesDescription
|
the Company will issue 17.5 million shares of common stock to the former security holders of NaturalShrimp. In addition, the stockholders of Natural Shrimp are entitled to receive an additional 5.0 million common shares (current valuation of $50.0 million) based on achieving certain revenue targets for 2024 and 5 million common shares (current valuation of $50 million) based on achieving certain revenue targets for 2025. In the event the Company or NaturalShrimp validly terminates the Agreement because of a default by the other, a breakup fee of $3.0 million will be due to the terminating party. | ||
CY2022Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
354737 | usd |
CY2022Q3 | YOTAU |
Working Capital Deficit
WorkingCapitalDeficit
|
467153 | usd |
YOTAU |
Proceeds Allocated To Public Warrants
ProceedsAllocatedToPublicWarrants
|
-690000 | usd | |
CY2021Q4 | us-gaap |
Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
|
0 | usd |
CY2022Q2 | us-gaap |
Deferred Offering Costs
DeferredOfferingCosts
|
6764402 | usd |
CY2022Q3 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
0 | usd |
CY2022Q2 | us-gaap |
Deferred Offering Costs
DeferredOfferingCosts
|
6764402 | usd |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_842_eus-gaap--UseOfEstimates_zVSbqqlvQsch" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86E_zRs3MHirCR3a">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In preparing these financial statements in conformity with U.S. GAAP, the Company’s management makes 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 expenses during the reporting period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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. Accordingly, the actual results could differ significantly from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></p> | ||
CY2021Q4 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
0 | usd |
CY2022Q3 | us-gaap |
Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
|
0 | usd |
CY2022Q3 | us-gaap |
Cash
Cash
|
354737 | usd |
CY2021Q4 | us-gaap |
Cash
Cash
|
196000 | usd |
CY2022Q3 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
0 | usd |
CY2021Q4 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
0 | usd |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
0 | usd | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
|
16666 | shares | |
us-gaap |
Stock Issued During Period Value Share Based Compensation Forfeited
StockIssuedDuringPeriodValueShareBasedCompensationForfeited
|
123900 | usd | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
7.38 | ||
CY2022Q3 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.2949 | pure |
CY2021Q3 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.0000 | pure |
us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.3590 | pure | |
us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.0000 | pure | |
CY2022Q3 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
|
0.21 | pure |
CY2021Q3 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
|
0.21 | pure |
us-gaap |
Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
|
0.21 | pure | |
us-gaap |
Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
|
0.21 | pure | |
us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p id="xdx_849_eus-gaap--ConcentrationRiskCreditRisk_zAKCzysZkEFc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_860_z99TjUgSBiRb">Concentration of Credit Risk</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed the Federal Depository Insurance Coverage of $<span id="xdx_905_eus-gaap--CashFDICInsuredAmount_c20220930_pp0p0" title="Federal Depository Insurance coverage">250,000</span>. The Company has not experienced losses on this account and management believes the Company is not exposed to significant risks on such account.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | ||
CY2022Q3 | us-gaap |
Cash Fdic Insured Amount
CashFDICInsuredAmount
|
250000 | usd |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
11843500 | shares | |
CY2022Q2 | YOTAU |
Proceeds From Ipo And Private Placement
ProceedsFromIpoAndPrivatePlacement
|
115000000 | usd |
YOTAU |
Proceeds Allocated To Public Rights
ProceedsAllocatedToPublicRights
|
-8280000 | usd | |
YOTAU |
Offering Costs Of Public Shares
OfferingCostsOfPublicShares
|
-6236778 | usd | |
YOTAU |
Accretion Of Carrying Value To Redemption Value
AccretionOfCarryingValueToRedemptionValue
|
15865772 | usd | |
YOTAU |
Common Stock Subject To Possible Redemption
CommonStockSubjectToPossibleRedemption
|
115658994 | usd | |
CY2022Q3 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
3218499 | shares |
CY2022Q3 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
3218499 | shares |
CY2021 | YOTAU |
Working Capital Loans
WorkingCapitalLoans
|
0 | usd |
CY2022Q2 | us-gaap |
Administrative Fees Expense
AdministrativeFeesExpense
|
10000 | usd |
CY2022Q3 | us-gaap |
Administrative Fees Expense
AdministrativeFeesExpense
|
30000 | usd |
us-gaap |
Administrative Fees Expense
AdministrativeFeesExpense
|
50000 | usd | |
CY2022Q3 | us-gaap |
Accounts Payable And Other Accrued Liabilities
AccountsPayableAndOtherAccruedLiabilities
|
50000 | usd |
CY2021Q4 | us-gaap |
Accounts Payable And Other Accrued Liabilities
AccountsPayableAndOtherAccruedLiabilities
|
0 | usd |
CY2022Q3 | us-gaap |
Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
|
0 | usd |
CY2021Q4 | us-gaap |
Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
|
1189 | usd |
CY2022Q3 | YOTAU |
Initial Public Offering Filings Fee
InitialPublicOfferingFilingsFee
|
3550 | usd |
YOTAU |
Initial Public Offering Filings Fee
InitialPublicOfferingFilingsFee
|
18550 | usd | |
YOTAU |
Periodic Compliance Filings Fee
PeriodicComplianceFilingsFee
|
1000 | usd | |
CY2022Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
50000000 | shares |
CY2022Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
CY2022Q3 | us-gaap |
Assets Fair Value Disclosure
AssetsFairValueDisclosure
|
115658994 | usd |