10-Q Filing

STRATA CRITICAL MEDICAL, INC. CIK: 1779128 Q3 2019

Filing Information

Form Type	10-Q
Accession Number	`0001104659-19-063385`
Period End Date	20190930
Filing Date	20191113
Fiscal Year	2019
Fiscal Period	Q3
XBRL Instance	expcu-20190930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 24 Income Statement 12 Cash Flow Statement 21 Stockholders Equity 15

Balance Sheet 24 line items

Line Item	Tag	Value	Unit	Period
Common stock subject to possible redemption, shares at redemption value	`TemporaryEquitySharesOutstanding`	26.19M	shares	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Current assets - Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.82M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Marketable securities held in Trust Account	`MarketableSecuritiesNoncurrent`	$275.17M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total Assets	`Assets`	$276.99M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$42.76K	USD	Point-in-time
Accrued offering costs	`AccruedOfferingCosts`	$53.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$26.09K	USD	Point-in-time
Promissory note - related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$231.37K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$353.21K	USD	Point-in-time
Deferred underwriting fee payable	`DeferredUnderwritingFeePayable`	$9.62M	USD	Point-in-time
Total Liabilities	`Liabilities`	$9.98M	USD	Point-in-time
Commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock subject to possible redemption, 26,187,385 shares at redemption value	`TemporaryEquityCarryingAmountAttributableToParent`	$262.01M	USD	Point-in-time
Preferred stock, $0.0001 par value; 1,000,000 authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$4.90M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$98.14K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	-	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$5.00M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$-24.00K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$276.99M	USD	Point-in-time

Income Statement 12 line items

Line Item	Tag	Value	Unit	Period
Common stock subject to possible redemption, shares at redemption value	`TemporaryEquitySharesOutstanding`	26.19M	shares	Point-in-time
Operating and formation costs	`OperatingExpenses`	$43.05K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-43.05K	USD	1 Quarter
Interest income attributable to common stock subject to possible redemption	`InterestIncomeAttributableToCommonStockSubjectToPossibleRedemption`	$-135.41K	USD	1 Quarter
Interest income on marketable securities held in Trust Account	`InvestmentIncomeInterest`	$168.28K	USD	1 Quarter
Other income	`NonoperatingIncomeExpense`	$168.28K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$125.23K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$26.09K	USD	1 Quarter
Net income	`NetIncomeLoss`	$99.14K	USD	1 Quarter
Net income	`NetIncomeLoss`	$-1.00K	USD	Point-in-time
Weighted average shares outstanding, basic and diluted (1)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.52M	shares	1 Quarter
Basic and diluted net income per common share (2)	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter

Cash Flow Statement 21 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$98.14K	USD	1 Quarter
Interest income on marketable securities held in Trust Account	`InvestmentIncomeInterest`	$168.28K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$42.76K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$26.09K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.30K	USD	1 Quarter
Investment of cash in Trust Account	`InvestmentOfCashInTrustAccount`	$275.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-275.00M	USD	1 Quarter
Proceeds from sale of Units, net of underwriting discounts paid	`ProceedsFromIssuanceInitialPublicOffering`	$269.50M	USD	1 Quarter
Proceeds from sale of Private Placement Warrants	`ProceedsFromIssuanceOfWarrants`	$7.50M	USD	1 Quarter
Proceeds from promissory notes - related party	`ProceedsFromRelatedPartyDebt`	$231.37K	USD	1 Quarter
Payment of offering costs	`PaymentsOfStockIssuanceCosts`	$410.88K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$276.82M	USD	1 Quarter
Net Change in Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.82M	USD	1 Quarter
Cash - Beginning	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	-	USD	Point-in-time
Cash - Beginning	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.82M	USD	Point-in-time
Cash - Ending	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	-	USD	Point-in-time
Cash - Ending	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.82M	USD	Point-in-time
Deferred offering costs paid directly by Sponsor from proceeds of issuance of Class B common stock to Sponsor	`DeferredOfferingCostsPaidDirectlyBySponsorFromProceedsOfIssuanceOfCommonStockToSponsorNonCashActivities`	$25.00K	USD	1 Quarter
Initial classification of common stock subject to possible redemption	`InitialClassificationOfCommonStockSubjectToPossibleRedemptionNonCashActivities`	$261.91M	USD	1 Quarter
Change in value of common stock subject to possible redemption	`ChangeInValueOfCommonStockSubjectToPossibleRedemptionNonCashActivities`	$99.44K	USD	1 Quarter
Deferred underwriting fees	`DeferredUnderwritingFeePayableNonCashActivities`	$9.62M	USD	1 Quarter

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Balance at the beginning	`StockholdersEquity`	-	USD	Point-in-time
Balance at the beginning	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance at the beginning	`StockholdersEquity`	$-24.00K	USD	Point-in-time
Issuance of common stock	`StockIssuedDuringPeriodValueNewIssues`	$25.00K	USD	Point-in-time
Issuance of common stock	`StockIssuedDuringPeriodValueNewIssues`	$25.00K	USD	Point-in-time
Issuance of common stock (in shares)	`StockIssuedDuringPeriodSharesNewIssues`	7.19M	shares	Point-in-time
Forfeiture of Founder Shares (in shares)	`StockRepurchasedAndRetiredDuringPeriodShares`	312,500.00	shares	3 Qtrs
Sale of 27,500,000 Units, net of underwriting discount and offering expenses	`StockIssuedDuringPeriodValueIssuanceOfUnitsNetOfExpenses`	$259.39M	USD	1 Quarter
Sale of 5,000,000 Private Placement Warrants	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$7.50M	USD	1 Quarter
Common stock subject to possible redemption	`StockRedeemedOrCalledDuringPeriodValue`	$262.01M	USD	1 Quarter
Net income	`NetIncomeLoss`	$99.14K	USD	1 Quarter
Net income	`NetIncomeLoss`	$-1.00K	USD	Point-in-time
Balance at the end	`StockholdersEquity`	-	USD	Point-in-time
Balance at the end	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance at the end	`StockholdersEquity`	$-24.00K	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.