10-Q Filing

Purple Innovation, Inc. CIK: 1643953 Q3 2015

Filing Information

Form Type	10-Q
Accession Number	`0001213900-15-008146`
Period End Date	20150930
Filing Date	20151103
Fiscal Year	2015
Fiscal Period	Q3
XBRL Instance	gpac-20150930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 28 Income Statement 7 Cash Flow Statement 20 Stockholders Equity 12

Balance Sheet 28 line items

Line Item	Tag	Value	Unit	Period
Possible redemption, per share	`CommonStockPossibleRedemptionPerShare`	$10.00	USD	Point-in-time
Possible Redemption, share	`CommonStockPossibleRedemption`	14.68M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.13M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$143.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.27M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and investments held in Trust Account	`AssetsHeldInTrustNoncurrent`	$155.25M	USD	Point-in-time
Total assets	`Assets`	$156.52M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	35.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	4.73M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	4.73M	shares	Point-in-time
Current liabilities - Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$95.00K	USD	Point-in-time
Excluding possible redemption, share	`ExcludingPossibleRedemptionShare`	14.68M	shares	Point-in-time
Deferred underwriting compensation	`DeferredCompensationLiabilityClassifiedNoncurrent`	$4.66M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.75M	USD	Point-in-time
Common stock subject to possible redemption; 14,676,855 shares (at redemption value of approximately $10.00 per share)	`PossibleRedemption`	$146.77M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.0001 par value; 1,000,000 shares authorized, none issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.0001 par value, 35,000,000 authorized shares, 4,729,395 shares issued and outstanding (excluding 14,676,855 shares subject to possible redemption)	`CommonStockValue`	-	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$5.15M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-149.00K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$5.00M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$156.52M	USD	Point-in-time

Income Statement 7 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$149.00K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-149.00K	USD	1 Quarter
Other income - interest on Trust Account	`InterestAndOtherIncome`	-	USD	1 Quarter
Net loss attributable to common stock	`NetIncomeLoss`	$-149.00K	USD	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.81M	shares	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter

Cash Flow Statement 20 line items

Line Item	Tag	Value	Unit	Period
Net loss attributable to common stock	`NetIncomeLoss`	$-149.00K	USD	1 Quarter
Increase in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-143.00K	USD	1 Quarter
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$95.00K	USD	1 Quarter
Trust income retained in Trust Account	`IncreaseDecreaseInTrustIncome`	-	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-197.00K	USD	1 Quarter
Cash flows from investing activities: Cash deposited in Trust Account	`PaymentsToTrustAccount`	$155.25M	USD	1 Quarter
Proceeds from sale of common stock to Sponsor	`ProceedsFromIssuanceOfCommonStock`	$25.00K	USD	1 Quarter
Proceeds from note payable and advances - related party	`ProceedsFromRelatedPartyDebt`	$225.00K	USD	1 Quarter
Proceeds from sale of Public Offering Units	`ProceedsFromIssuanceInitialPublicOffering`	$155.25M	USD	1 Quarter
Proceeds from sale of Private Placement Warrants	`ProceedsFromIssuanceOfPrivatePlacement`	$6.41M	USD	1 Quarter
Payment of underwriting discounts	`PaymentOfUnderwritingDiscounts`	$4.66M	USD	1 Quarter
Payment of offering costs	`PaymentOfDeferredOfferingCosts`	$449.00K	USD	1 Quarter
Payment of notes payable and advances - related party	`ProceedsFromNotesPayable`	$-225.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$156.58M	USD	1 Quarter
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.13M	USD	1 Quarter
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.13M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.13M	USD	Point-in-time
Deferred underwriters' commission	`DeferredUnderwritersCommission`	$4.66M	USD	1 Quarter

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Sale of common stock, price per share	`SaleOfStockPricePerShare`	$0.01	USD	Point-in-time
Stock proceeds subject to possible redemption shares	`StockProceedsSubjectToPossibleRedemptionShares`	14.68M	shares	1 Quarter
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	-	USD	Point-in-time
Sale of common stock to Sponsor at $0.006 per share	`StockIssuedDuringPeriodValueOther`	$25.00K	USD	1 Quarter
Sale of Units to the public in August 2015 at $10.00 per unit	`StockIssuedDuringPeriodValueNewIssues`	$155.25M	USD	1 Quarter
Underwriters' discount and offering expenses	`UnderwritersDiscountOfferingExpenses`	$-9.77M	USD	1 Quarter
Sale of 12,815,000 Private Placement Warrants in August 2015 at $0.50 per warrant	`StockIssuedDuringPeriodValueNewIssuesOne`	$6.41M	USD	1 Quarter
Proceeds subject to possible redemption of 14,676,855 shares at redemption value	`CommonStockProceedsSubjectToPossibleRedemptionValue`	$-146.77M	USD	1 Quarter
Net loss attributable to common stock	`NetIncomeLoss`	$-149.00K	USD	1 Quarter
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	-	USD	Point-in-time

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