10-Q Filing

AST SPACEMOBILE, INC. CIK: 1780312 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001213900-20-012288`
Period End Date	20200331
Filing Date	20200514
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	npac-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 44 Income Statement 12 Cash Flow Statement 16 Stockholders Equity 6

Balance Sheet 44 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, 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`	-	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$493.13K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$519.63K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$131.23K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$140.24K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$624.35K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$659.87K	USD	Point-in-time
Marketable securities held in Trust Account	`MarketableSecuritiesNoncurrent`	$231.21M	USD	Point-in-time
Marketable securities held in Trust Account	`MarketableSecuritiesNoncurrent`	$232.26M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$231.84M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$232.92M	USD	Point-in-time
Common stock subject to possible redemption	`TemporaryEquitySharesRedemption`	21.75M	shares	Point-in-time
Common stock subject to possible redemption	`TemporaryEquitySharesRedemption`	21.74M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$243.76K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$240.14K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$25.68K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$176.47K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$420.24K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$265.82K	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$3.61K	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$78.04K	USD	Point-in-time
Deferred underwriting fee payable	`DeferredUnderwritingFeePayable`	$8.05M	USD	Point-in-time
Deferred underwriting fee payable	`DeferredUnderwritingFeePayable`	$8.05M	USD	Point-in-time
Total Liabilities	`Liabilities`	$8.55M	USD	Point-in-time
Total Liabilities	`Liabilities`	$8.32M	USD	Point-in-time
Class A common stock subject to possible redemption, 21,744,878 and 21,746,363 shares at redemption value at March 31, 2020 and December 31, 2019, respectively	`TemporaryEquitySharesRedemptions`	$218.52M	USD	Point-in-time
Class A common stock subject to possible redemption, 21,744,878 and 21,746,363 shares at redemption value at March 31, 2020 and December 31, 2019, respectively	`TemporaryEquitySharesRedemptions`	$219.37M	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`	$4.34M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$3.50M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.50M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$655.68K	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`	$231.84M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$232.92M	USD	Point-in-time

Income Statement 12 line items

Line Item	Tag	Value	Unit	Period
Common stock subject to possible redemption	`ExcludesAggregateSharesOfPossibleRedemption`	$21.74M	USD	1 Quarter
Operating costs	`OperatingCostsAndExpenses`	$185.26K	USD	1 Quarter
Income attributable to common stock subject to redemption	`IncomeAttributableToCommonStockSubjectToRedemption`	$928.86K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-185.26K	USD	1 Quarter
Interest income	`InterestIncomeOther`	$886.10K	USD	1 Quarter
Unrealized gain on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$371.63K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$1.26M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.07M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$225.22K	USD	1 Quarter
Net income	`NetIncomeLoss`	$847.25K	USD	1 Quarter
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.00M	shares	1 Quarter
Basic and diluted net loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter

Cash Flow Statement 16 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$847.25K	USD	1 Quarter
Interest earned on marketable securities held in Trust Account	`PaymentsToAcquireMarketableSecurities`	$886.10K	USD	1 Quarter
Unrealized gain on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$371.63K	USD	1 Quarter
Deferred tax provision	`DeferredIncomeTaxesAndTaxCredits`	$74.43K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$9.02K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$3.63K	USD	1 Quarter
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$150.79K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-190.65K	USD	1 Quarter
Cash withdrawn from Trust Account for franchise tax payments	`ProceedFromWithdrawnForTaxPayments`	$217.15K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$217.15K	USD	1 Quarter
Net Change in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$26.50K	USD	1 Quarter
Cash - Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$493.13K	USD	Point-in-time
Cash - Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$519.63K	USD	Point-in-time
Cash - End of period	`CashAndCashEquivalentsAtCarryingValue`	$493.13K	USD	Point-in-time
Cash - End of period	`CashAndCashEquivalentsAtCarryingValue`	$519.63K	USD	Point-in-time
Change in value of common stock subject to possible redemption	`ChangeInValueOfCommonStockSubjectToRedemption`	$847.25K	USD	1 Quarter

Stockholders Equity 6 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Class A common stock subject to possible redemption	`CommonStockSubjectToPossibleRedemption`	$-847.25K	USD	1 Quarter
Net income	`NetIncomeLoss`	$847.25K	USD	1 Quarter
Balances	`StockholdersEquity`	$5.00M	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.