10-Q Filing

Custom Truck One Source, Inc. CIK: 1709682 Q2 2019

Filing Information

Form Type	10-Q
Accession Number	`0001213900-19-014075`
Period End Date	20190630
Filing Date	20190731
Fiscal Year	2019
Fiscal Period	Q2
XBRL Instance	cic-20190630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 36 Cash Flow Statement 34 Stockholders Equity 20

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$394.32K	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$83.61K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$468.25K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$501.93K	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$10.31K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.34K	USD	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$93.92K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$469.60K	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Cash and marketable securities held in Trust Account	`AssetsHeldInTrustNoncurrent`	$412.05M	USD	Point-in-time
Cash and marketable securities held in Trust Account	`AssetsHeldInTrustNoncurrent`	$407.73M	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Total Assets	`Assets`	$412.15M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	11.91M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	12.04M	shares	Point-in-time
Total Assets	`Assets`	$408.20M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	11.91M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	12.04M	shares	Point-in-time
Common stock, subject to possible redemption	`OrdinarySharesSubjectToPossibleRedemption`	38.27M	shares	Point-in-time
Common stock, subject to possible redemption	`OrdinarySharesSubjectToPossibleRedemption`	38.40M	shares	Point-in-time
Current liabilities - Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$206.27K	USD	Point-in-time
Current liabilities - Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$90.88K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$90.88K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$206.27K	USD	Point-in-time
Convertible promissory notes - related parties	`NotesPayableRelatedPartiesClassifiedCurrent`	$950.00K	USD	Point-in-time
Convertible promissory notes - related parties	`NotesPayableRelatedPartiesClassifiedCurrent`	-	USD	Point-in-time
Deferred underwriting fee	`DeferredUnderwritingFee`	$14.09M	USD	Point-in-time
Deferred underwriting fee	`DeferredUnderwritingFee`	$14.09M	USD	Point-in-time
Total Liabilities	`Liabilities`	$15.24M	USD	Point-in-time
Total Liabilities	`Liabilities`	$14.18M	USD	Point-in-time
Commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common Stock, subject to possible redemption, 38,271,779 and 38,402,649 shares at redemption value as of June 30, 2019 and December 31, 2018, respectively	`RedeemableNoncontrollingInterestEquityCommonCarryingAmount`	$389.02M	USD	Point-in-time
Common Stock, subject to possible redemption, 38,271,779 and 38,402,649 shares at redemption value as of June 30, 2019 and December 31, 2018, respectively	`RedeemableNoncontrollingInterestEquityCommonCarryingAmount`	$391.90M	USD	Point-in-time
Preferred Stock, $0.0001 par value; 5,000,000 authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred Stock, $0.0001 par value; 5,000,000 authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common Stock, $0.0001 par value; 250,000,000 shares authorized; 12,040,721 and 11,909,851 shares issued and outstanding (excluding 38,271,779 and 38,402,649 shares subject to possible redemption) as of June 30, 2019 and December 31, 2018, respectively	`CommonStockValue`	$1.19K	USD	Point-in-time
Common Stock, $0.0001 par value; 250,000,000 shares authorized; 12,040,721 and 11,909,851 shares issued and outstanding (excluding 38,271,779 and 38,402,649 shares subject to possible redemption) as of June 30, 2019 and December 31, 2018, respectively	`CommonStockValue`	$1.20K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$602.32K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$5.00M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$4.40M	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 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`	$408.20M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$412.15M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Operating costs	`OperatingCostsAndExpenses`	$904.82K	USD	2 Qtrs
Operating costs	`OperatingCostsAndExpenses`	$1.44M	USD	2 Qtrs
Excludes an aggregate shares subject to redemption	`ExcludesAggregateSharesSubjectToRedemption`	-	shares	1 Quarter
Excludes an aggregate shares subject to redemption	`ExcludesAggregateSharesSubjectToRedemption`	38.27M	shares	2 Qtrs
Excludes an aggregate shares subject to redemption	`ExcludesAggregateSharesSubjectToRedemption`	38.39M	shares	2 Qtrs
Operating costs	`OperatingCostsAndExpenses`	$904.92K	USD	1 Quarter
Operating costs	`OperatingCostsAndExpenses`	$491.57K	USD	1 Quarter
Excludes an aggregate shares subject to redemption	`ExcludesAggregateSharesSubjectToRedemption`	-	shares	1 Quarter
Net income (loss) per common share - income excluded from basic and diluted	`TemporaryEquityAccretionToRedemptionValueAdjustment`	$2.03M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.44M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-904.92K	USD	1 Quarter
Net income (loss) per common share - income excluded from basic and diluted	`TemporaryEquityAccretionToRedemptionValueAdjustment`	$726.62K	USD	1 Quarter
Net income (loss) per common share - income excluded from basic and diluted	`TemporaryEquityAccretionToRedemptionValueAdjustment`	$4.11M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-904.82K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-491.57K	USD	1 Quarter
Net income (loss) per common share - income excluded from basic and diluted	`TemporaryEquityAccretionToRedemptionValueAdjustment`	$1.93M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.51M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.05M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.88M	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$4.33M	USD	2 Qtrs
Unrealized loss on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	-	USD	2 Qtrs
Unrealized loss on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$-1.18K	USD	1 Quarter
Unrealized loss on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	-	USD	2 Qtrs
Unrealized loss on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$-24.49K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.12M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.98M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$2.88M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.02M	USD	1 Quarter
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	11.96M	shares	1 Quarter
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	11.92M	shares	2 Qtrs
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	11.91M	shares	1 Quarter
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	11.94M	shares	2 Qtrs
Basic and diluted net (loss) income per common share	`EarningsPerShareBasicAndDiluted`	$0.02	USD	1 Quarter
Basic and diluted net (loss) income per common share	`EarningsPerShareBasicAndDiluted`	$-0.10	USD	2 Qtrs
Basic and diluted net (loss) income per common share	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
Basic and diluted net (loss) income per common share	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	1 Quarter

Cash Flow Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.12M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.98M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$2.88M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.02M	USD	1 Quarter
Interest earned on marketable securities held in Trust Account	`InvestmentIncomeInterest`	$1.51M	USD	1 Quarter
Interest earned on marketable securities held in Trust Account	`InvestmentIncomeInterest`	$2.05M	USD	1 Quarter
Interest earned on marketable securities held in Trust Account	`InvestmentIncomeInterest`	$2.88M	USD	2 Qtrs
Interest earned on marketable securities held in Trust Account	`InvestmentIncomeInterest`	$4.33M	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$8.97K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-43.02K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$4.20K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$115.40K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-857.60K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.33M	USD	2 Qtrs
Cash withdrawn from the Trust Account	`ProceedsFromHedgeInvestingActivities`	$750.00K	USD	2 Qtrs
Cash withdrawn from the Trust Account	`ProceedsFromHedgeInvestingActivities`	-	USD	2 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$750.00K	USD	2 Qtrs
Proceeds from convertible promissory notes - related parties	`ProceedsFromConvertiblePromissoryNotesRelatedParties`	-	USD	2 Qtrs
Proceeds from convertible promissory notes - related parties	`ProceedsFromConvertiblePromissoryNotesRelatedParties`	$950.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$950.00K	USD	2 Qtrs
Net Change in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-107.60K	USD	2 Qtrs
Net Change in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-384.65K	USD	2 Qtrs
Cash - Beginning	`CashAndCashEquivalentsAtCarryingValue`	$394.32K	USD	Point-in-time
Cash - Beginning	`CashAndCashEquivalentsAtCarryingValue`	$83.61K	USD	Point-in-time
Cash - Beginning	`CashAndCashEquivalentsAtCarryingValue`	$468.25K	USD	Point-in-time
Cash - Beginning	`CashAndCashEquivalentsAtCarryingValue`	$501.93K	USD	Point-in-time
Cash - Ending	`CashAndCashEquivalentsAtCarryingValue`	$394.32K	USD	Point-in-time
Cash - Ending	`CashAndCashEquivalentsAtCarryingValue`	$83.61K	USD	Point-in-time
Cash - Ending	`CashAndCashEquivalentsAtCarryingValue`	$468.25K	USD	Point-in-time
Cash - Ending	`CashAndCashEquivalentsAtCarryingValue`	$501.93K	USD	Point-in-time
Change in value of common stock subject to possible redemption	`ChangeInValueOfOrdinarySharesSubjectToPossibleRedemption`	$1.98M	USD	2 Qtrs
Change in value of common stock subject to possible redemption	`ChangeInValueOfOrdinarySharesSubjectToPossibleRedemption`	$2.88M	USD	2 Qtrs

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Change in value of common stock subject to possible redemption	`RedeemableInterestEquityCommonCarryingAmount`	$-1.12M	USD	1 Quarter
Change in value of common stock subject to possible redemption	`RedeemableInterestEquityCommonCarryingAmount`	$-1.02M	USD	1 Quarter
Change in value of common stock subject to possible redemption	`RedeemableInterestEquityCommonCarryingAmount`	$-955.37K	USD	1 Quarter
Change in value of common stock subject to possible redemption	`RedeemableInterestEquityCommonCarryingAmount`	$-1.76M	USD	1 Quarter
Net income	`ProfitLoss`	$955.37K	USD	1 Quarter
Net income	`ProfitLoss`	$1.02M	USD	1 Quarter
Net income	`ProfitLoss`	$1.12M	USD	1 Quarter
Net income	`ProfitLoss`	$2.88M	USD	1 Quarter
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time

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