10-Q Filing

AST SPACEMOBILE, INC. CIK: 1780312 Q2 2020

Filing Information

Form Type	10-Q
Accession Number	`0001213900-20-021916`
Period End Date	20200630
Filing Date	20200813
Fiscal Year	2020
Fiscal Period	Q2
XBRL Instance	npac-20200630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 51 Income Statement 36 Cash Flow Statement 43 Stockholders Equity 17

Balance Sheet 51 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
Cash	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$399.26K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$493.13K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Prepaid expenses	`PrepaidExpensesCurrent`	$131.23K	USD	Point-in-time
Prepaid expenses	`PrepaidExpensesCurrent`	$96.36K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$1.00K	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	-	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$496.62K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$624.35K	USD	Point-in-time
Marketable securities held in Trust Account	`MarketableSecuritiesNoncurrent`	$232.07M	USD	Point-in-time
Marketable securities held in Trust Account	`MarketableSecuritiesNoncurrent`	$231.21M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$232.57M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$231.84M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$204.61K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$240.14K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	-	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$25.68K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$204.61K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$265.82K	USD	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilitiesNet`	$1.70K	USD	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilitiesNet`	$3.61K	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`	$8.32M	USD	Point-in-time
Total Liabilities	`Liabilities`	$8.26M	USD	Point-in-time
Commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Class A common stock subject to possible redemption, 21,742,011 and 21,746,363 shares at redemption value at June 30, 2020 and December 31, 2019, respectively	`TemporaryEquitySharesRedemptions`	$219.32M	USD	Point-in-time
Class A common stock subject to possible redemption, 21,742,011 and 21,746,363 shares at redemption value at June 30, 2020 and December 31, 2019, respectively	`TemporaryEquitySharesRedemptions`	$218.52M	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`	$3.55M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$4.34M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.45M	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`	$23.91K	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`	$5.00M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$231.84M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$232.57M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Common stock subject to possible redemption	`ExcludesAggregateSharesOfPossibleRedemption`	$21.74M	USD	2 Qtrs
Formation and operating costs	`OperatingCostsAndExpenses`	$339.19K	USD	2 Qtrs
Formation and operating costs	`OperatingCostsAndExpenses`	$1.09K	USD	Point-in-time
Formation and operating costs	`OperatingCostsAndExpenses`	$153.93K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-339.19K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-153.93K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.09K	USD	Point-in-time
Income attributable to common stock subject to redemption	`IncomeAttributableToCommonStockSubjectToRedemption`	$49.11K	USD	1 Quarter
Income attributable to common stock subject to redemption	`IncomeAttributableToCommonStockSubjectToRedemption`	$977.88K	USD	2 Qtrs
Income attributable to common stock subject to redemption	`IncomeAttributableToCommonStockSubjectToRedemption`	-	USD	Point-in-time
Excluded an aggregate of shares were subject to forfeiture	`ExcludedAggregateOfSharesWereSubjectToForfeiture`	750,000.00	shares	Point-in-time
Interest income	`InterestIncomeOther`	$451.68K	USD	1 Quarter
Interest income	`InterestIncomeOther`	-	USD	Point-in-time
Interest income	`InterestIncomeOther`	$1.34M	USD	2 Qtrs
Unrealized (loss) gain on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	-	USD	Point-in-time
Unrealized (loss) gain on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$8.09K	USD	2 Qtrs
Unrealized (loss) gain on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$-363.54K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$88.14K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	-	USD	Point-in-time
Other income, net	`OtherNonoperatingIncomeExpense`	$1.35M	USD	2 Qtrs
(Loss) income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-65.79K	USD	1 Quarter
(Loss) income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.09K	USD	Point-in-time
(Loss) income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.01M	USD	2 Qtrs
Benefit (Provision) for income taxes	`IncomeTaxExpenseBenefit`	$211.40K	USD	2 Qtrs
Benefit (Provision) for income taxes	`IncomeTaxExpenseBenefit`	-	USD	Point-in-time
Benefit (Provision) for income taxes	`IncomeTaxExpenseBenefit`	$-13.82K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$847.25K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-1.09K	USD	Point-in-time
Net (loss) income	`NetIncomeLoss`	$795.27K	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$-51.98K	USD	1 Quarter
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	5.00M	shares	Point-in-time
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.01M	shares	1 Quarter
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.00M	shares	2 Qtrs
Basic and diluted net loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Basic and diluted net loss per common share	`EarningsPerShareBasicAndDiluted`	-	USD	Point-in-time
Basic and diluted net loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	2 Qtrs

Cash Flow Statement 43 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$847.25K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.09K	USD	Point-in-time
Net income (loss)	`NetIncomeLoss`	$795.27K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-51.98K	USD	1 Quarter
Interest earned on marketable securities held in Trust Account	`InterestEarnedOnMarketableSecuritiesHeldInTrustAccount`	$1.34M	USD	2 Qtrs
Interest earned on marketable securities held in Trust Account	`InterestEarnedOnMarketableSecuritiesHeldInTrustAccount`	-	USD	Point-in-time
Unrealized gain on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	-	USD	Point-in-time
Unrealized gain on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$8.09K	USD	2 Qtrs
Unrealized gain on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$-363.54K	USD	1 Quarter
Deferred tax benefit	`DeferredIncomeTaxesAndTaxCredits`	-	USD	Point-in-time
Deferred tax benefit	`DeferredIncomeTaxesAndTaxCredits`	$-1.91K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpensesOther`	$-34.87K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpensesOther`	-	USD	Point-in-time
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$1.00K	USD	2 Qtrs
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	-	USD	Point-in-time
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.09K	USD	Point-in-time
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-35.53K	USD	2 Qtrs
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-25.68K	USD	2 Qtrs
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	-	USD	Point-in-time
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	-	USD	Point-in-time
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-579.85K	USD	2 Qtrs
Cash withdrawn from Trust Account for franchise and income tax payments	`ProceedFromWithdrawnForTaxPayments`	$485.99K	USD	2 Qtrs
Cash withdrawn from Trust Account for franchise and income tax payments	`ProceedFromWithdrawnForTaxPayments`	-	USD	Point-in-time
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Point-in-time
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$485.99K	USD	2 Qtrs
Net Change in Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	-	USD	Point-in-time
Net Change in Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-93.87K	USD	2 Qtrs
Cash - Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash - Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$399.26K	USD	Point-in-time
Cash - Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$493.13K	USD	Point-in-time
Cash - Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash - End of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash - End of period	`CashAndCashEquivalentsAtCarryingValue`	$399.26K	USD	Point-in-time
Cash - End of period	`CashAndCashEquivalentsAtCarryingValue`	$493.13K	USD	Point-in-time
Cash - End of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$240.00K	USD	2 Qtrs
Change in value of common stock subject to possible redemption	`ChangeInValueOfCommonStockSubjectToRedemption`	-	USD	Point-in-time
Change in value of common stock subject to possible redemption	`ChangeInValueOfCommonStockSubjectToRedemption`	$795.27K	USD	2 Qtrs
Deferred offering costs included in accrued offering costs	`DeferredOfferingCostsIncludedInAccruedOfferingCost`	$90.63K	USD	Point-in-time
Deferred offering costs included in accrued offering costs	`DeferredOfferingCostsIncludedInAccruedOfferingCost`	-	USD	2 Qtrs
Deferred offering costs paid directly by Sponsor from proceeds from issuance of Class B common stock	`DeferredOfferingCostsPaidDirectlyBySponsorFromProceedsFromIssuanceOfClassBCommonStock`	$25.00K	USD	Point-in-time
Deferred offering costs paid directly by Sponsor from proceeds from issuance of Class B common stock	`DeferredOfferingCostsPaidDirectlyBySponsorFromProceedsFromIssuanceOfClassBCommonStock`	-	USD	2 Qtrs

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$23.91K	USD	Point-in-time
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	-	USD	Point-in-time
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Class A common stock subject to possible redemption	`CommonStockSubjectToPossibleRedemption`	$51.98K	USD	1 Quarter
Class A common stock subject to possible redemption	`CommonStockSubjectToPossibleRedemption`	$-847.25K	USD	1 Quarter
Class B common stock issued to the Sponsor	`StockIssuedDuringPeriodValueCommonStockIssuedToSponsor`	$25.00K	USD	Point-in-time
Net income loss	`NetIncomeLoss`	$847.25K	USD	1 Quarter
Net income loss	`NetIncomeLoss`	$-1.09K	USD	Point-in-time
Net income loss	`NetIncomeLoss`	$795.27K	USD	2 Qtrs
Net income loss	`NetIncomeLoss`	$-51.98K	USD	1 Quarter
Balances	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balances	`StockholdersEquity`	$23.91K	USD	Point-in-time
Balances	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balances	`StockholdersEquity`	-	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.