10-Q Filing

RUSH STREET INTERACTIVE, INC. CIK: 1793659 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001193125-20-136217`
Period End Date	20200331
Filing Date	20200507
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	dmyt-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 46 Income Statement 7 Cash Flow Statement 24 Stockholders Equity 10

Balance Sheet 46 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$1.46M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$330.36K	USD	Point-in-time
Class A common stock, par value	`TemporaryEquityParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Class A common stock, par value	`TemporaryEquityParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.79M	USD	Point-in-time
Class A common stock, shares subject to possible redemption	`TemporaryEquitySharesOutstanding`	0.00	shares	Point-in-time
Class A common stock, shares subject to possible redemption	`TemporaryEquitySharesOutstanding`	21.87M	shares	Point-in-time
Class A common stock, redemption price per share	`TemporaryEquityRedemptionPricePerShare`	$10.00	USD	Point-in-time
Investments held in Trust Account	`AssetsHeldInTrustNoncurrent`	$230.52M	USD	Point-in-time
Class A common stock, redemption price per share	`TemporaryEquityRedemptionPricePerShare`	$10.00	USD	Point-in-time
Deferred offering costs associated with the proposed public offering	`DeferredOfferingCosts`	$8.05M	USD	Point-in-time
Deferred offering costs associated with the proposed public offering	`DeferredOfferingCosts`	$73.36K	USD	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
Total Assets	`Assets`	$73.36K	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
Total Assets	`Assets`	$232.31M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$33.44K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$384.45K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$50.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$15.64K	USD	Point-in-time
Franchise tax payable	`SalesAndExciseTaxPayableCurrent`	$50.50K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$98.69K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$583.64K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$49.08K	USD	Point-in-time
Deferred underwriting commissions associated with initial public offering	`DeferredUnderwriterFee`	$8.05M	USD	Point-in-time
Total Liabilities	`Liabilities`	$49.08K	USD	Point-in-time
Total Liabilities	`Liabilities`	$8.63M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Class A common stock, $0.0001 par value; 21,868,007 and -0- shares subject to possible redemption at $10.00 per share at March 31, 2020 and December 31, 2019, respectively	`TemporaryEquityCarryingAmountAttributableToParent`	$218.68M	USD	Point-in-time
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	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-incapital	`AdditionalPaidInCapital`	$4.75M	USD	Point-in-time
Additional paid-incapital	`AdditionalPaidInCapital`	$24.43K	USD	Point-in-time
Retained earning (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-720.00	USD	Point-in-time
Retained earning (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$250.42K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$24.28K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$5.00M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$73.36K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$232.31M	USD	Point-in-time

Income Statement 7 line items

Line Item	Tag	Value	Unit	Period
General and administrative expenses	`GeneralAndAdministrativeExpense`	$120.12K	USD	1 Quarter
Franchise tax expense	`FranchisorCosts`	$50.50K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-170.62K	USD	1 Quarter
Gain on marketable securities (net), dividends and interest, held in Trust Account	`GainOnMarketableSecuritiesNetDividendsAndInterestHeldInTrustAccount`	$520.45K	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$349.83K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$98.69K	USD	1 Quarter
Net income	`NetIncomeLoss`	$251.14K	USD	1 Quarter

Cash Flow Statement 24 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$251.14K	USD	1 Quarter
Gain on marketable securities (net), dividends and interest, held in Trust Account	`NoncashGainOnMarketableSecuritiesNetDividendsAndInterestHeldInTrustAccount`	$520.41K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$330.36K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$383.73K	USD	1 Quarter
Franchise tax payable	`IncreaseDecreaseInFranchiseTaxPayable`	$50.50K	USD	1 Quarter
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$98.69K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-66.70K	USD	1 Quarter
Cash deposited in Trust Account	`CashDepositedInTrustAccount`	$230.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-230.00M	USD	1 Quarter
Proceeds from note payable to related party	`ProceedsFromRelatedPartyDebt`	$24.99K	USD	1 Quarter
Repayment of note payable to related parties	`RepaymentsOfRelatedPartyDebt`	$89.84K	USD	1 Quarter
Proceeds from sale of Units, gross	`ProceedsFromIssuanceInitialPublicOffering`	$230.00M	USD	1 Quarter
Proceeds from sale of Units, gross	`ProceedsFromIssuanceInitialPublicOffering`	$230.00M	USD	Point-in-time
Proceeds from sale of Private Placement Warrants	`ProceedsFromIssuanceOfPrivatePlacement`	$6.60M	USD	1 Quarter
Payment of offering costs	`PaymentsOfStockIssuanceCosts`	$5.01M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$231.53M	USD	1 Quarter
Net change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.46M	USD	1 Quarter
Cash - beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.46M	USD	Point-in-time
Cash - end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.46M	USD	Point-in-time
Offering costs included in accrued expenses	`OfferingCostsIncludedInAccountsPayable`	$50.00K	USD	1 Quarter
Offering costs included in note payable	`OfferingCostsIncludedInNotePayable`	$64.85K	USD	1 Quarter
Deferred underwriting commissions in connection with the initial public offering	`NoncashDeferredUnderwritingCommissions`	$8.05M	USD	1 Quarter
Value of Class A common stock subject to possible redemption	`SharesSubjectToPossibleRedemptionAmount`	$218.68M	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$24.28K	USD	Point-in-time
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Sale of units in initial public offering, gross	`StockIssuedDuringPeriodValueNewIssues`	$230.00M	USD	1 Quarter
Sale of units in initial public offering, gross (in shares)	`StockIssuedDuringPeriodSharesNewIssues`	23.00M	shares	Point-in-time
Offering costs	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$13.20M	USD	1 Quarter
Sale of private placement warrants to Sponsor in private placement	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$6.60M	USD	1 Quarter
Common stock subject to possible redemption	`SharesSubjectToPossibleRedemptionAmount`	$218.68M	USD	1 Quarter
Net income	`NetIncomeLoss`	$251.14K	USD	1 Quarter
Balances	`StockholdersEquity`	$24.28K	USD	Point-in-time
Balances	`StockholdersEquity`	$5.00M	USD	Point-in-time

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