10-Q Filing

STRATA CRITICAL MEDICAL, INC. CIK: 1779128 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001104659-20-060841`
Period End Date	20200331
Filing Date	20200513
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	expcu-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 48 Income Statement 12 Cash Flow Statement 12 Stockholders Equity 8

Balance Sheet 48 line items

Line Item	Tag	Value	Unit	Period
Common stock subject to possible redemption, shares at redemption value	`TemporaryEquitySharesOutstanding`	26.18M	shares	Point-in-time
Common stock subject to possible redemption, shares at redemption value	`TemporaryEquitySharesOutstanding`	26.16M	shares	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.31M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.09M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$125.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$148.62K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.43M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.24M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Marketable securities held in Trust Account	`MarketableSecuritiesNoncurrent`	$276.26M	USD	Point-in-time
Marketable securities held in Trust Account	`MarketableSecuritiesNoncurrent`	$277.13M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$277.69M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$278.37M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	1.34M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	1.34M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$136.69K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$93.18K	USD	Point-in-time
Accrued offering costs	`AccruedOfferingCosts`	$26.00K	USD	Point-in-time
Accrued offering costs	`AccruedOfferingCosts`	$26.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$208.61K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$360.68K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$479.86K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$371.31K	USD	Point-in-time
Deferred underwriting fee payable	`DeferredUnderwritingFeePayable`	$9.62M	USD	Point-in-time
Deferred underwriting fee payable	`DeferredUnderwritingFeePayable`	$9.62M	USD	Point-in-time
Total Liabilities	`Liabilities`	$10.00M	USD	Point-in-time
Total Liabilities	`Liabilities`	$10.10M	USD	Point-in-time
Commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Class A common stock subject to possible redemption, 26,163,140 and 26,180,927 shares at redemption value as of March 31, 2020 and December 31, 2019, respectively	`TemporaryEquityCarryingAmountAttributableToParent`	$263.27M	USD	Point-in-time
Class A common stock subject to possible redemption, 26,163,140 and 26,180,927 shares at redemption value as of March 31, 2020 and December 31, 2019, respectively	`TemporaryEquityCarryingAmountAttributableToParent`	$262.70M	USD	Point-in-time
Preferred stock, $0.0001 par value; 1,000,000 authorized; none issued and outstanding	`PreferredStockValue`	-	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`	$3.64M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$4.21M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$784.78K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.36M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$5.00M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$5.00M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$277.69M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$278.37M	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`	26.18M	shares	Point-in-time
Common stock subject to possible redemption, shares at redemption value	`TemporaryEquitySharesOutstanding`	26.16M	shares	Point-in-time
Operating costs	`OperatingExpenses`	$145.13K	USD	1 Quarter
Dividend income attributable to common stock subject to possible redemption	`DividendIncomeAttributableToCommonStockSubjectToPossibleRedemption`	$-634.77K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-145.13K	USD	1 Quarter
Interest income on marketable securities held in Trust Account	`InvestmentIncomeDividend`	$869.27K	USD	1 Quarter
Other income	`NonoperatingIncomeExpense`	$869.27K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$724.14K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$152.07K	USD	1 Quarter
Net income	`NetIncomeLoss`	$572.07K	USD	1 Quarter
Weighted average shares outstanding, basic and diluted (1)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	8.19M	shares	1 Quarter
Basic and diluted net income per common share (2)	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter

Cash Flow Statement 12 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$572.07K	USD	1 Quarter
Interest earned on marketable securities held in Trust Account	`InvestmentIncomeInterest`	$869.27K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$23.62K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-43.52K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$152.07K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-212.27K	USD	1 Quarter
Net Change in Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-212.27K	USD	1 Quarter
Cash - Beginning	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.31M	USD	Point-in-time
Cash - Beginning	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.09M	USD	Point-in-time
Cash - Ending	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.31M	USD	Point-in-time
Cash - Ending	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.09M	USD	Point-in-time
Change in value of common stock subject to possible redemption	`ChangeInValueOfCommonStockSubjectToPossibleRedemptionNonCashActivities`	$572.07K	USD	1 Quarter

Stockholders Equity 8 line items

Line Item	Tag	Value	Unit	Period
Balance at the beginning	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance at the beginning	`StockholdersEquity`	$5.00M	USD	Point-in-time
Change in value of common stock subject to possible redemption	`StockIssuedDuringPeriodValueNewIssues`	$-572.07K	USD	1 Quarter
Change in value of common stock subject to possible redemption	`StockIssuedDuringPeriodValueNewIssues`	$25.00K	USD	Point-in-time
Change in value of common stock subject to possible redemption (in shares)	`StockIssuedDuringPeriodSharesNewIssues`	7.19M	shares	Point-in-time
Net income	`NetIncomeLoss`	$572.07K	USD	1 Quarter
Balance at the end	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance at the end	`StockholdersEquity`	$5.00M	USD	Point-in-time

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