10-Q Filing

STRATA CRITICAL MEDICAL, INC. CIK: 1779128 Q2 2020

Filing Information

Form Type	10-Q
Accession Number	`0001104659-20-094659`
Period End Date	20200630
Filing Date	20200813
Fiscal Year	2020
Fiscal Period	Q2
XBRL Instance	expcu-20200630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 47 Income Statement 26 Cash Flow Statement 17 Stockholders Equity 16

Balance Sheet 47 line items

Line Item	Tag	Value	Unit	Period
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
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.31M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.02M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	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`	$115.75K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	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`	$1.13M	USD	Point-in-time
Marketable securities held in Trust Account	`MarketableSecuritiesNoncurrent`	$277.24M	USD	Point-in-time
Marketable securities held in Trust Account	`MarketableSecuritiesNoncurrent`	$276.26M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$277.69M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$278.37M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$136.69K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$100.00K	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`	$359.09K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$208.61K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$485.09K	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`	$10.11M	USD	Point-in-time
Total Liabilities	`Liabilities`	$10.00M	USD	Point-in-time
Commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Class A common stock subject to possible redemption, 26,156,915 and 26,180,927 shares at redemption value as of June 30, 2020 and December 31, 2019, respectively	`TemporaryEquityCarryingAmountAttributableToParent`	$262.70M	USD	Point-in-time
Class A common stock subject to possible redemption, 26,156,915 and 26,180,927 shares at redemption value as of June 30, 2020 and December 31, 2019, respectively	`TemporaryEquityCarryingAmountAttributableToParent`	$263.26M	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`	$4.21M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$3.65M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$784.78K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.35M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$24.00K	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 Stockholders' Equity	`StockholdersEquity`	$5.00M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$278.37M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$277.69M	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Formation and operating costs	`OperatingExpenses`	$1.00K	USD	Point-in-time
Formation and operating costs	`OperatingExpenses`	$115.56K	USD	1 Quarter
Formation and operating costs	`OperatingExpenses`	$260.69K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-115.56K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.00K	USD	Point-in-time
Loss from operations	`OperatingIncomeLoss`	$-260.69K	USD	2 Qtrs
Interest income on marketable securities held in Trust Account	`InvestmentIncomeDividend`	$977.25K	USD	2 Qtrs
Interest income on marketable securities held in Trust Account	`InvestmentIncomeDividend`	$107.98K	USD	1 Quarter
(Loss) income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-7.57K	USD	1 Quarter
(Loss) income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$716.57K	USD	2 Qtrs
(Loss) income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.00K	USD	Point-in-time
Benefit (provision) for income taxes	`IncomeTaxExpenseBenefit`	$150.48K	USD	2 Qtrs
Common stock subject to possible redemption, shares at redemption value	`TemporaryEquitySharesOutstanding`	26.16M	shares	Point-in-time
Benefit (provision) for income taxes	`IncomeTaxExpenseBenefit`	$-1.59K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$572.07K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$566.09K	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$-1.00K	USD	Point-in-time
Net (loss) income	`NetIncomeLoss`	$-5.98K	USD	1 Quarter
Weighted average shares outstanding, basic and diluted (1)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.25M	shares	Point-in-time
Weighted average shares outstanding, basic and diluted (1)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	8.20M	shares	2 Qtrs
Dividend income attributable to common stock subject to possible redemption	`DividendIncomeAttributableToCommonStockSubjectToPossibleRedemption`	$-691.31K	USD	2 Qtrs
Dividend income attributable to common stock subject to possible redemption	`DividendIncomeAttributableToCommonStockSubjectToPossibleRedemption`	$-56.67K	USD	1 Quarter
Weighted average shares outstanding, basic and diluted (1)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	8.21M	shares	1 Quarter
Basic and diluted net income per common share (2)	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	2 Qtrs
Basic and diluted net income per common share (2)	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Basic and diluted net income per common share (2)	`EarningsPerShareBasicAndDiluted`	-	USD	Point-in-time

Cash Flow Statement 17 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`ProfitLoss`	$566.09K	USD	2 Qtrs
Net income (loss)	`ProfitLoss`	$-1.00K	USD	Point-in-time
Interest income earned on marketable securities held in Trust Account	`InvestmentIncomeInterest`	$977.25K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-9.25K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-36.69K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.00K	USD	Point-in-time
Income taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$150.48K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-288.13K	USD	2 Qtrs
Proceeds from promissory notes - related party	`ProceedsFromRelatedPartyDebt`	$37.02K	USD	Point-in-time
Payment of offering costs	`PaymentsOfStockIssuanceCosts`	$37.02K	USD	Point-in-time
Net Change in Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-288.13K	USD	2 Qtrs
Cash - Beginning	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.31M	USD	Point-in-time
Cash - Beginning	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.02M	USD	Point-in-time
Cash - Ending	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.31M	USD	Point-in-time
Cash - Ending	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.02M	USD	Point-in-time
Change in value of common stock subject to possible redemption	`ChangeInValueOfCommonStockSubjectToPossibleRedemptionNonCashActivities`	$566.10K	USD	2 Qtrs
Deferred offering costs paid directly by Sponsor from proceeds of issuance of Class B common stock to Sponsor	`DeferredOfferingCostsPaidDirectlyBySponsorFromProceedsOfIssuanceOfCommonStockToSponsorNonCashActivities`	$25.00K	USD	Point-in-time

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Balance at the beginning	`StockholdersEquity`	$24.00K	USD	Point-in-time
Balance at the beginning	`StockholdersEquity`	$5.00M	USD	Point-in-time
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	`StockIssuedDuringPeriodValueNewIssues`	$5.97K	USD	1 Quarter
Change in value of common stock subject to possible redemption (in shares)	`StockIssuedDuringPeriodSharesNewIssues`	7.19M	shares	Point-in-time
Net (loss) income	`NetIncomeLoss`	$572.07K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$566.09K	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$-1.00K	USD	Point-in-time
Net (loss) income	`NetIncomeLoss`	$-5.98K	USD	1 Quarter
Balance at the end	`StockholdersEquity`	$24.00K	USD	Point-in-time
Balance at the end	`StockholdersEquity`	$5.00M	USD	Point-in-time
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.