Relativity Acquisition Corp. Files Q1 2024 10-Q

TL;DR

**RELATIVITY ACQUISITION CORP. (RACB) FILED ITS 10-Q FOR Q1 2024. NO MAJOR NEWS YET.**

AI Summary

Relativity Acquisition Corp. filed its quarterly report on Form 10-Q for the period ended March 31, 2024. The company, incorporated in Delaware with its principal executive offices in Las Vegas, NV, is a blank check company focused on the real estate and construction sector. The filing details its financial status and operational activities for the specified quarter.

Why It Matters

This filing provides investors with an update on Relativity Acquisition Corp.'s financial performance and operational status as a special purpose acquisition company (SPAC) during the first quarter of 2024.

Risk Assessment

Risk Level: low — This is a standard quarterly filing for a SPAC with no immediately apparent significant financial events or disclosures.

Key Numbers

• 20240331 — Quarter End Date (Indicates the end of the reporting period for this 10-Q.)
• 001-40625 — Commission File Number (Unique identifier for the company's filings with the SEC.)

Key Players & Entities

• Relativity Acquisition Corp. (company) — Registrant
• March 31, 2024 (date) — Quarterly period end date
• 3753 Howard Hughes Pkwy Suite 200 Las Vegas, NV 89169 (location) — Principal Executive Offices
• 001-40625 (other) — Commission File Number
• 86-3244927 (other) — I.R.S. Employer Identification No.

FAQ

Key Financial Figures

• $0.0001 — ares of Class A Common Stock, par value $0.0001 per share, and one share of Class B Com

Filing Documents

• ea0229795-10q_relativityacq.htm (10-Q) — 571KB
• ea022979501ex31-1_relativity.htm (EX-31.1) — 12KB
• ea022979501ex31-2_relativity.htm (EX-31.2) — 12KB
• ea022979501ex32-1_relativity.htm (EX-32.1) — 5KB
• ea022979501ex32-2_relativity.htm (EX-32.2) — 5KB
• 0001213900-25-010145.txt ( ) — 4344KB
• racy-20240331.xsd (EX-101.SCH) — 38KB
• racy-20240331_cal.xml (EX-101.CAL) — 20KB
• racy-20240331_def.xml (EX-101.DEF) — 245KB
• racy-20240331_lab.xml (EX-101.LAB) — 335KB
• racy-20240331_pre.xml (EX-101.PRE) — 245KB
• ea0229795-10q_relativityacq_htm.xml (XML) — 424KB

Financial Statements

Financial Statements 1 Condensed Consolidated Balance Sheets as of March 31, 2024 (Unaudited) and December 31, 2023 1 Unaudited Condensed Consolidated Statements of Operations for the three months ended March 31, 2024 and 2023 2 Unaudited Condensed Consolidated Statements of Changes in Stockholders' Deficit for the three months ended March 31, 2024 and 2023 3 Unaudited Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2024 and 2023 4 Notes to Unaudited Condensed Consolidated Financial Statements 5 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 21 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 28 Item 4. Control and Procedures 28

– OTHER INFORMATION

PART II – OTHER INFORMATION 29 Item 1.

Legal Proceedings

Legal Proceedings 29 Item 1A.

Risk Factors

Risk Factors 29 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29 Item 3. Defaults Upon Senior Securities 29 Item 4. Mine Safety Disclosures 29 Item 5. Other Information 29 Item 6. Exhibits 30 PART III 31

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements RELATIVITY ACQUISITION CORP. CONDENSED CONSOLIDATED BALANCE SHEETS March 31, 2024 December 31, 2023 (Unaudited) Assets Current assets: Cash $ 524 $ 7,131 Prepaid expense 5,156 8,092 Due from sponsor 3,047 3,047 Total current assets 8,727 18,270 Cash and investments held in Trust Account 728,786 1,746,543 Total Assets $ 737,513 $ 1,764,813 Liabilities, Redeemable Common Stock, and Stockholders' Deficit Current liabilities: Due to related party $ 889 $ 889 Accrued costs and expenses 1,916,734 1,595,283 Income tax payable — 1,911 Excise tax payable 10,192 — Promissory – related party 98,588 15,600 Franchise tax payable 2,000 18,000 Total current liabilities 2,028,403 1,631,683 Warrant liabilities 368,205 526,007 Total Liabilities 2,396,608 2,157,690 Commitments and Contingencies (Note 6) Class A common stock, $ 0.0001 par value; 100,000,000 shares authorized; 63,241 and 153,295 shares subject to possible redemption as of March 31, 2024 and December 31, 2023, at a redemption value of approximately $ 11.45 and $ 11.25 per share, respectively (Note 3) 724,055 1,723,901 Stockholders' Deficit: Preferred stock, $ 0.0001 par value; 1,000,000 shares authorized; none issued and outstanding as of March 31, 2024 and December 31, 2023 — — Class A common stock, $ 0.0001 par value; 100,000,000 shares authorized; 4,247,499 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively (excluding 63,241 and 153,295 shares subject to possible redemption as of March 31, 2024 and December 31, 2023) 424 424 Class B common stock, $ 0.0001 par value; 10,000,000 shares authorized; 1 shares issued and outstanding as of March 31, 2024 and December 31, 2023 — — Accumulated deficit ( 2,383,574 ) ( 2,117,202 ) Total Stockholders' Deficit ( 2,383,150 ) ( 2,116,778 ) Total Liabilities, Redeemable Common Stock, and Stockholders' Deficit $ 737,51

View Full Filing

View this 10-Q filing on SEC EDGAR