Welsbach Tech Metals Files Q3 2024 10-Q
Ticker: EMAT · Form: 10-Q · Filed: Nov 19, 2024 · CIK: 1866226
| Field | Detail |
|---|---|
| Company | Welsbach Technology Metals Acquisition CORP. (EMAT) |
| Form Type | 10-Q |
| Filed Date | Nov 19, 2024 |
| Risk Level | low |
| Pages | 16 |
| Reading Time | 19 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, quarterly-report, filing
TL;DR
**Welsbach Tech Metals filed its Q3 2024 10-Q. Check financials.**
AI Summary
Welsbach Technology Metals Acquisition Corp. filed its quarterly report on Form 10-Q for the period ended September 30, 2024. The company, incorporated in Delaware with its principal office in Chicago, IL, operates in the miscellaneous electrical machinery sector. This filing provides an update on its financial and operational status for the third quarter of 2024.
Why It Matters
This filing provides investors with the latest financial performance and operational details for Welsbach Technology Metals Acquisition Corp. during the third quarter of 2024.
Risk Assessment
Risk Level: low — This is a standard quarterly filing (10-Q) and does not inherently indicate new or elevated risks.
Key Players & Entities
- Welsbach Technology Metals Acquisition Corp. (company) — Registrant
- September 30, 2024 (date) — Quarterly period end date
- 001-41183 (other) — Commission file number
- 87-1006702 (other) — IRS Employer Identification No.
- Delaware (other) — State of incorporation
- Chicago, IL (location) — Business and mailing address
FAQ
What is the reporting period for this 10-Q filing?
The quarterly period ended September 30, 2024.
What is the company's commission file number?
The commission file number is 001-41183.
In which state was Welsbach Technology Metals Acquisition Corp. incorporated?
The company was incorporated in Delaware.
What is the IRS Employer Identification Number for the registrant?
The IRS Employer Identification Number is 87-1006702.
What is the primary business address of Welsbach Technology Metals Acquisition Corp.?
The business address is 4422 N. RAVENSWOOD AVE #1025, CHICAGO, IL 60640.
Filing Stats: 4,714 words · 19 min read · ~16 pages · Grade level 17.8 · Accepted 2024-11-19 06:30:23
Key Financial Figures
- $0.0001 — onsisting of one share of common stock, $0.0001 par value, and one right to receive one
Filing Documents
- ea0221606-10q_welsbach.htm (10-Q) — 610KB
- ea022160601ex31-1_welsbach.htm (EX-31.1) — 12KB
- ea022160601ex31-2_welsbach.htm (EX-31.2) — 12KB
- ea022160601ex32-1_welsbach.htm (EX-32.1) — 5KB
- ea022160601ex32-2_welsbach.htm (EX-32.2) — 5KB
- 0001213900-24-099817.txt ( ) — 4334KB
- wtma-20240930.xsd (EX-101.SCH) — 37KB
- wtma-20240930_cal.xml (EX-101.CAL) — 22KB
- wtma-20240930_def.xml (EX-101.DEF) — 225KB
- wtma-20240930_lab.xml (EX-101.LAB) — 319KB
- wtma-20240930_pre.xml (EX-101.PRE) — 218KB
- ea0221606-10q_welsbach_htm.xml (XML) — 405KB
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 33 Item 4. Control and Procedures 33
– OTHER INFORMATION
PART II – OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 34 Item 1A.
Risk Factors
Risk Factors 34 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 35 Item 3. Defaults upon Senior Securities 35 Item 4. Mine Safety Disclosures 35 Item 5. Other Information 35 Item 6. Exhibits 36
SIGNATURES
SIGNATURES 37 i PART 1 – FINANCIAL INFORMATION
Interim Consolidated Financial Statements (Unaudited)
Item 1. Interim Consolidated Financial Statements (Unaudited) WELSBACH TECHNOLOGY METALS ACQUISITION CORP. CONDENSED CONSOLIDATED BALANCE SHEETS September 30, 2024 December 31, 2023 (Unaudited) ASSETS Current assets Cash $ 1,185 $ 6,760 Prepaid expenses and other assets 20,250 833 Total current assets 21,435 7,593 Restricted cash — 161,449 Cash and investment held in Trust Account 12,230,126 23,769,229 TOTAL ASSETS $ 12,251,561 $ 23,938,271 LIABILITIES, REDEEMABLE COMMON STOCK, AND STOCKHOLDERS' DEFICIT Current liabilities Accounts payable and accrued expenses $ 2,772,502 $ 2,846,126 Due to affiliates 383,663 293,663 Franchise tax payable 28,427 80,000 Income taxes payable 70,828 — Excise tax payable 705,718 583,520 Convertible promissory notes – related party 2,296,371 2,296,371 Working capital loans – related party 1,292,679 549,100 Total current liabilities 7,550,188 6,648,780 Deferred underwriting fee payable 2,704,690 2,704,690 TOTAL LIABILITIES 10,254,878 9,353,470 COMMITMENTS AND CONTINGENCIES (NOTE 6) REDEEMABLE COMMON STOCK Common Stock subject to possible redemption, $ 0.0001 par value, 1,082,789 shares at redemption value of $ 11.20 per share at September 30, 2024 and 2,172,851 shares at redemption value of $ 10.98 at December 31, 2023, respectively 12,130,098 23,850,678 STOCKHOLDERS' DEFICIT Preferred stock, $ 0.0001 par value; 1,000,000 shares authorized; none issued and outstanding at September 30, 2024 and December 31, 2023 — — Common stock; $ 0.0001 par value; 100,000,000 shares authorized; 2,283,976 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively (excluding 1,082,789 shares at September 30, 2024 and 2,172,851 shares at December 31, 2023 subject to redemption) 228 228 Additional Paid in Capital — — Accumulated deficit ( 10,133,643 ) ( 9,266,105 ) TOTAL STOCKHOLDERS' DEFICIT ( 10,133,415 ) ( 9,265,877 )