10-Q Filing

LUCID GROUP, INC. CIK: 1811210 Q3 2020

Filing Information

Form Type	10-Q
Accession Number	`0001104659-20-123051`
Period End Date	20200930
Filing Date	20201109
Fiscal Year	2020
Fiscal Period	Q3
XBRL Instance	cciv-20200930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 23 Income Statement 22 Cash Flow Statement 25 Stockholders Equity 14

Balance Sheet 23 line items

Line Item	Tag	Value	Unit	Period
Temporary Equity, Shares Outstanding	`TemporaryEquitySharesOutstanding`	199.79M	shares	Point-in-time
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`Cash`	$4.22M	USD	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`	$1.09M	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$5.31M	USD	Point-in-time
Deferred tax asset	`DeferredIncomeTaxAssetsNet`	$9.03K	USD	Point-in-time
Marketable securities held in Trust Account	`MarketableSecurities`	$2.07B	USD	Point-in-time
Total Assets	`Assets`	$2.08B	USD	Point-in-time
Current liabilities - accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$33.33K	USD	Point-in-time
Deferred underwriting fee payable	`DeferredUnderwritingFeePayableNonCurrent`	$72.45M	USD	Point-in-time
Total Liabilities	`Liabilities`	$72.48M	USD	Point-in-time
Commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Class A common stock subject to possible redemption, 199,787,373 shares at redemption value	`TemporaryEquityCarryingAmountAttributableToParent`	$2.00B	USD	Point-in-time
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$5.15M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$156.61K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$5.00M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	-	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$24.00K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$2.08B	USD	Point-in-time

Income Statement 22 line items

Line Item	Tag	Value	Unit	Period
Temporary Equity, Shares Outstanding	`TemporaryEquitySharesOutstanding`	199.79M	shares	Point-in-time
Formation and operating costs	`OperatingExpenses`	$333.43K	USD	2 Qtrs
Formation and operating costs	`OperatingExpenses`	$332.43K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-333.43K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-332.43K	USD	1 Quarter
Interest earned on marketable securities held in Trust Account	`InvestmentIncomeInterest`	$210.78K	USD	2 Qtrs
Interest earned on marketable securities held in Trust Account	`InvestmentIncomeInterest`	$210.78K	USD	1 Quarter
Unrealized loss on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$-43.00K	USD	1 Quarter
Unrealized loss on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$-43.00K	USD	2 Qtrs
Other income, net	`NonoperatingIncomeExpense`	$167.78K	USD	1 Quarter
Other income, net	`NonoperatingIncomeExpense`	$167.78K	USD	2 Qtrs
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-164.64K	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-165.64K	USD	2 Qtrs
Benefit from income taxes	`IncomeTaxExpenseBenefit`	$-9.03K	USD	2 Qtrs
Benefit from income taxes	`IncomeTaxExpenseBenefit`	$-9.03K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-155.61K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-1.00K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-156.61K	USD	2 Qtrs
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	53.78M	shares	1 Quarter
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	51.12M	shares	2 Qtrs
Basic and diluted net loss per common share	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
Basic and diluted net loss per common share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter

Cash Flow Statement 25 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-155.61K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-156.61K	USD	2 Qtrs
Interest earned on marketable securities held in trust account	`InterestEarnedOnMarketableSecuritiesHeldInTrustAccount`	$210.78K	USD	2 Qtrs
Unrealized loss on marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$-43.00K	USD	1 Quarter
Unrealized loss on marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$-43.00K	USD	2 Qtrs
Deferred tax provision	`DeferredIncomeTaxExpenseBenefit`	$-9.03K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$1.09M	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$33.33K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.39M	USD	2 Qtrs
Investment of cash into Trust Account	`PaymentsToAcquireRestrictedInvestments`	$2.07B	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.07B	USD	2 Qtrs
Proceeds from issuance of common stock to Sponsor	`ProceedsFromIssuanceOfCommonStock`	$25.00K	USD	2 Qtrs
Proceeds from sale of Units, net of underwriting discounts paid	`ProceedsFromIssuanceInitialPublicOffering`	$2.03B	USD	2 Qtrs
Proceeds from sale of Private Placement Warrants	`ProceedsFromIssuanceOfWarrants`	$42.85M	USD	2 Qtrs
Proceeds from promissory note - related party	`ProceedsFromRelatedPartyDebt`	$550.00K	USD	2 Qtrs
Repayment of promissory note - related party	`RepaymentsOfRelatedPartyDebt`	$550.00K	USD	2 Qtrs
Payment of offering costs	`PaymentsOfStockIssuanceCosts`	$861.28K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.08B	USD	2 Qtrs
Net Change in Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$4.22M	USD	2 Qtrs
Cash - Beginning	`Cash`	$4.22M	USD	Point-in-time
Cash - Ending	`Cash`	$4.22M	USD	Point-in-time
Initial classification of common stock subject to possible redemption	`InitialClassificationOfCommonStockSubjectToRedemption`	$2.00B	USD	2 Qtrs
Change in value of common stock subject to possible redemption	`ChangeInValueOfCommonStockSubjectToRedemption`	$-155.62K	USD	2 Qtrs
Deferred underwriting fee payable	`LiabilitiesAssumed1`	$72.45M	USD	2 Qtrs

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Sale of Private Placement Warrants (in shares)	`WarrantsIssuedDuringPeriodSharesWarrants`	42.85M	shares	1 Quarter
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	-	USD	Point-in-time
Balance	`StockholdersEquity`	$24.00K	USD	Point-in-time
Issuance of Class B common stock to Sponsor	`StockIssuedDuringPeriodValueNewIssues`	$25.00K	USD	1 Quarter
Sale of 207,000,000 Units, net of underwriting discounts	`StockIssuedSaleOfUnitsNetOfUnderwritingDiscountAndOfferingExpensesValue`	$1.96B	USD	1 Quarter
Sale of 42,850,000 Private Placement Warrants	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$42.85M	USD	1 Quarter
Common stock subject to possible redemption	`SharesSubjectToPossibleRedemptionValue`	$2.00B	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-155.61K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-156.61K	USD	2 Qtrs
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	-	USD	Point-in-time
Balance	`StockholdersEquity`	$24.00K	USD	Point-in-time

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