DevvStream Corp. Files Q3 2024 10-Q
Ticker: DEVS · Form: 10-Q · Filed: Jan 23, 2025 · CIK: 1854480
Sentiment: neutral
Topics: 10-Q, financials, reporting
TL;DR
DevvStream Corp. (formerly Focus Impact Acquisition Corp.) filed its Q3 2024 10-Q, check financials.
AI Summary
DevvStream Corp. filed its 10-Q for the period ending September 30, 2024. The company, formerly known as Focus Impact Acquisition Corp. until March 31, 2021, is incorporated in Delaware and headquartered in Vancouver. The filing covers financial information for the period from January 1, 2024, to September 30, 2024.
Why It Matters
This filing provides investors with an update on DevvStream Corp.'s financial performance and position as of the third quarter of 2024.
Risk Assessment
Risk Level: low — This is a standard quarterly filing with no immediate red flags or significant negative news.
Key Numbers
- 2024-09-30 — Period End Date (The end of the reporting period for this 10-Q filing.)
- 2024-01-01 — Period Start Date (The beginning of the reporting period for this 10-Q filing.)
Key Players & Entities
- DevvStream Corp. (company) — Filer
- Focus Impact Acquisition Corp. (company) — Former company name
- 20240930 (date) — Period of report
- 20250123 (date) — Filing date
- 20210331 (date) — Date of name change
FAQ
What was DevvStream Corp.'s former name and when did the name change occur?
DevvStream Corp.'s former name was Focus Impact Acquisition Corp., and the name change occurred on March 31, 2021.
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is from January 1, 2024, to September 30, 2024.
Where is DevvStream Corp. headquartered?
DevvStream Corp. is headquartered in Vancouver, with a business address at 2133 - 1177 W. Hastings Street, Vancouver, A1, V6E 2K3.
What is the Standard Industrial Classification (SIC) code for DevvStream Corp.?
The Standard Industrial Classification (SIC) code for DevvStream Corp. is 6799, which falls under 'INVESTORS, NEC'.
What is the SEC file number for DevvStream Corp.?
The SEC file number for DevvStream Corp. is 001-40977.
Filing Stats: 4,648 words · 19 min read · ~15 pages · Grade level 16.3 · Accepted 2025-01-23 16:30:37
Filing Documents
- ef20034578_10q.htm (10-Q) — 1215KB
- ef20034578_ex10-4.htm (EX-10.4) — 151KB
- ef20034578_ex31-1.htm (EX-31.1) — 12KB
- ef20034578_ex31-2.htm (EX-31.2) — 12KB
- ef20034578_ex32-1.htm (EX-32.1) — 5KB
- ef20034578_ex32-2.htm (EX-32.2) — 5KB
- 0001140361-25-001804.txt ( ) — 6972KB
- devs-20240930.xsd (EX-101.SCH) — 65KB
- devs-20240930_cal.xml (EX-101.CAL) — 30KB
- devs-20240930_def.xml (EX-101.DEF) — 427KB
- devs-20240930_lab.xml (EX-101.LAB) — 641KB
- devs-20240930_pre.xml (EX-101.PRE) — 496KB
- ef20034578_10q_htm.xml (XML) — 919KB
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION 1 Item 1.
Financial Statements
Financial Statements 1 Condensed Consolidated Balance Sheets as of September 30, 2024 (unaudited) and December 31, 2023 1 Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2024 and 2023 (unaudited) 2 Condensed Consolidated Statements of Changes in Stockholders' Deficit for the Three and Nine Months Ended September 30, 2024 and 2023 (unaudited) 3 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023 (unaudited) 4 Notes to Condensed Consolidated Financial Statements (unaudited) 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 25 Item 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 30 Item 4. Control and Procedures 30
– OTHER INFORMATION
PART II – OTHER INFORMATION 31 Item 1.
Legal Proceedings
Legal Proceedings 31 Item 1A.
Risk Factors
Risk Factors 31 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 31 Item 3. Defaults Upon Senior Securities 31 Item 4. Mine Safety Disclosures 31 Item 5. Other Information 31 Item 6. Exhibits 32
SIGNATURES
SIGNATURES 35 Table of Contents PART I – FINANCIAL INFORMATION Item 1. Financial DEVVSTREAM CORP. (F.K.A. FOCUS IMPACT ACQUISITION CORP.) CONDENSED CONSOLIDATED BALANCE SHEETS September 30, December 31, 2024 (Unaudited) 2023 Assets: Current assets: Cash $ 2,032 $ 224,394 Restricted cash 25,843 75,773 Income tax receivable 171,573 13,937 Prepaid expenses 8,469 4,091 Total current asset 207,917 318,195 Cash held in Trust Account 19,307,014 62,418,210 Total assets $ 19,514,931 $ 62,736,405 Liabilities and Stockholders' Deficit Current liabilities: A ccounts payable and accrued expenses $ 7,283,393 $ 4,408,080 Due to Sponsor 330,000 240,000 Franchise taxes payable 29,896 40,030 Excise tax payable 2,235,006 2,235,006 Redemption payable — 43,640,022 Promissory note - related party 2,975,000 1,875,000 Total current liabilities 12,853,295 52,438,138 Warrant liability 681,000 454,000 Marketing agreement 150,000 150,000 Total liabilities 13,684,295 53,042,138 Commitments and Contingencies (Note 6) Class A common stock subject to possible redemption, 1,717,578 shares at redemption value of $ 11.34 and 10.98 per share as of September 30 , 2024 and December 31, 2023 , respectively 19,479,401 18,853,961 Stockholders' Deficit: Preferred stock, $ 0.0001 par value; 1,000,000 shares authorized; none issued and outstanding — — Class A common stock, $ 0.0001 par value; 500,000,000 shares authorized; 5,000,000 issued and outstanding, (excluding 1,717,578 shares subject to possible redemption), as of September 30 , 2024 and December 31, 2023 , respectively 500 500 Class B common stock, $ 0.0001 par value; 50,000,000 shares authorized; 750,000 shares issued and outstanding as of September 30 , 2024 and December 31, 2023 , respectively 75 75 Additional paid-in capital — — Accumulated deficit ( 13,649,340 ) ( 9,160,269 )