AtlasClear Holdings, Inc. Q1 2024 10-Q Filing
Ticker: ATCHW · Form: 10-Q · Filed: May 28, 2024 · CIK: 1963088
Sentiment: neutral
Topics: 10-Q, financial-services, quarterly-report
TL;DR
**AtlasClear Holdings, Inc. Q1 2024 10-Q filed. Financials and operations detailed.**
AI Summary
AtlasClear Holdings, Inc. filed its 10-Q for the period ending March 31, 2024. The filing details financial information and operational updates for the first quarter of 2024. Key financial metrics and disclosures relevant to investors are presented in this report.
Why It Matters
This 10-Q filing provides crucial insights into AtlasClear Holdings, Inc.'s financial performance and operational status for the first quarter of 2024, guiding investor decisions.
Risk Assessment
Risk Level: medium — The filing is a standard quarterly report, but the company's specific financial health and market position require further analysis to determine a precise risk level.
Key Numbers
- 5031250 — P3Y (Likely relates to a financial metric with a 3-year period, but specific label is unclear from provided text.)
- 12277759 — P6M (Likely relates to a financial metric with a 6-month period, but specific label is unclear from provided text.)
- 11781759 — P6M (Likely relates to a financial metric with a 6-month period, but specific label is unclear from provided text.)
Key Players & Entities
- AtlasClear Holdings, Inc. (company) — Filer of the 10-Q
- Calculator New Pubco, Inc. (company) — Former name of AtlasClear Holdings, Inc.
- 20240331 (date) — End of the reporting period
- 20240528 (date) — Filing date
FAQ
What is the primary business of AtlasClear Holdings, Inc.?
AtlasClear Holdings, Inc. is classified under 'Finance Services' with SIC code 6199, indicating a focus on financial services.
When was the company formerly known as Calculator New Pubco, Inc.?
The company changed its name from Calculator New Pubco, Inc. on January 20, 2023.
What is the fiscal year end for AtlasClear Holdings, Inc.?
The fiscal year end for AtlasClear Holdings, Inc. is December 31.
What is the business address of AtlasClear Holdings, Inc.?
The business address is 4030 Henderson Blvd., Suite 712, Tampa, FL 33629.
What specific financial instruments or metrics are referenced with dates like 2024-03-31 and 2023-12-31?
The filing references inputs for risk-free interest rate, expected dividend rate, exercise price, probability of business combination, and price volatility for these dates.
Filing Stats: 4,318 words · 17 min read · ~14 pages · Grade level 17.9 · Accepted 2024-05-24 18:31:23
Key Financial Figures
- $0.0001 — e on which registered Common stock, $0.0001 par value per share ATCH NYSE Ameri
Filing Documents
- tmb-20240331x10q.htm (10-Q) — 1755KB
- tmb-20240331xex31d1.htm (EX-31.1) — 13KB
- tmb-20240331xex31d2.htm (EX-31.2) — 13KB
- tmb-20240331xex32d1.htm (EX-32.1) — 7KB
- tmb-20240331xex32d2.htm (EX-32.2) — 7KB
- 0001410578-24-000969.txt ( ) — 9334KB
- tmb-20240331.xsd (EX-101.SCH) — 111KB
- tmb-20240331_cal.xml (EX-101.CAL) — 73KB
- tmb-20240331_def.xml (EX-101.DEF) — 413KB
- tmb-20240331_lab.xml (EX-101.LAB) — 755KB
- tmb-20240331_pre.xml (EX-101.PRE) — 585KB
- tmb-20240331x10q_htm.xml (XML) — 1393KB
Financial Information
Part I. Financial Information 3
Interim Consolidated Financial Statements
Item 1. Interim Consolidated Financial Statements 3 Condensed Consolidated Balance sheet as of March 31, 2024 (unaudited) and December 31, 2023 3 Condensed Consolidated Statements of Operations for the three months ended March 31, 2024 and 2023 (Unaudited) 4 Condensed Consolidated Statements of Changes in Stockholders' Deficit for the three months ended March 31, 2024 and 2023 (Unaudited) 5 Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2024 and 2023 (Unaudited) 7 Notes to Condensed consolidated financial Statements (Unaudited) 9
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 34
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 43
Controls and Procedures
Item 4. Controls and Procedures 44
Other Information
Part II. Other Information 45
Legal Proceedings
Item 1. Legal Proceedings 45
Risk Factors
Item 1A. Risk Factors 45
Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities
Item 2. Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities 45
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 45
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 45
Other Information
Item 5. Other Information 45
Exhibits
Item 6. Exhibits 46
Signatures
Signatures 48 2 Table of Contents
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
Interim Consolidated Financial Statements
Item 1. Interim Consolidated Financial Statements. ATLASCLEAR HOLDINGS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS March 31, December 31, 2024 2023 (Unaudited) ASSETS Cash and cash equivalents $ 7,194,912 $ 619,554 Cash segregated - customers 20,161,017 — Cash segregated - PAB 200,762 — Receivables - broker-dealers and clearing organizations 3,489,804 — Receivables - customers, net 687,937 — Other receivables 79,543 — Prepaid income tax 139,316 — Prepaids 106,362 58,828 Trading securities, market value, net 55 54,799,478 Total Current Assets 32,059,708 55,477,860 Operating Lease Right to Use Lease Asset 368,965 — Property and equipment, net 20,599 — Customer list, net 14,238,178 — Identified licenses 4,553,944 — Pacsquare asset purchase 1,416,000 — Technology acquired, net 17,845,813 — Cash deposits - broker-dealers and clearing organizations 3,515,000 — Winston Strawn Subscription Agreement 1,875,150 — Commercial bank acquisition deposit 91,200 — Other assets 388,418 — TOTAL ASSETS $ 76,372,975 $ 55,477,860 LIABILITIES AND STOCKHOLDERS' DEFICIT LIABILITIES Payables to customers $ 22,025,211 $ — Accounts and payables to officers/directors 551,007 — Accounts payable and accrued expenses 3,652,809 5,510,760 Non-redemption agreement liability — 1,441,653 Payables - broker-dealers and clearing organizations 486,958 — Commissions, payroll and payroll taxes 219,765 — Current portion of lease liability 159,933 — Advances from related parties — 3,104,097 Stock payable 1,244,965 — Convertible Notes, net 3,775,017 — Secured Convertible Note, net 5,101,163 — Promissory notes 2,576,714 — Promissory notes - related party — 480,000 Short-term merger financing, net 4,788,824 — Excise tax payable 2,067,572 1,528,101 Deferred income tax liability 900 — Total Current Liabilities 46,650,838 12,064,611 Acc