10-K Filing

Intuitive Machines, Inc. CIK: 1844452 FY 2021

Filing Information

Form Type	10-K
Accession Number	`0001213900-22-019878`
Period End Date	20211231
Filing Date	20220414
Fiscal Year	2021
Fiscal Period	FY
XBRL Instance	f10k2021_inflection_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 26 Income Statement 11 Cash Flow Statement 29 Stockholders Equity 15

Balance Sheet 26 line items

Line Item	Tag	Value	Unit	Period
Cash	`CashAndCashEquivalentsAtCarryingValue`	$359.61K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$475.53K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$835.14K	USD	Point-in-time
Prepaid expenses noncurrent portion	`PrepaidExpenseNoncurrent`	$326.03K	USD	Point-in-time
Marketable Securities held in Trust Account	`AssetsHeldInTrustNoncurrent`	$329.76M	USD	Point-in-time
Ordinary share subject to possible redemption	`OrdinaryShareSubjectToPossibleRedemption`	31.59M	shares	Point-in-time
Total assets	`Assets`	$330.92M	USD	Point-in-time
Preference shares, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preference shares, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Accrued offering costs and expenses	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$218.42K	USD	Point-in-time
Preference shares, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$1.03K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$219.45K	USD	Point-in-time
Preference shares, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Deferred underwriting fee	`DeferredRevenueNoncurrent`	$11.54M	USD	Point-in-time
Total liabilities	`Liabilities`	$11.76M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Class A ordinary share subject to possible redemption, 31,588,011 shares at redemption value	`TemporaryEquityCarryingAmountAttributableToParent`	$315.88M	USD	Point-in-time
Preference shares, $0.0001 par value; 5,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Class A ordinary shares, $0.0001 par value; 500,000,000 shares authorized; 1,386,989 issued and outstanding, excluding 31,588,011 shares subject to possible redemption	`CommonStockValue`	$139.00	USD	Point-in-time
Class B ordinary shares, $0.0001 par value; 50,000,000 shares authorized; 8,243,750 shares issued and outstanding	`CommonStockValue1`	$825.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$3.59M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-315.51K	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$3.28M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	-	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$330.92M	USD	Point-in-time

Income Statement 11 line items

Line Item	Tag	Value	Unit	Period
Formation and operating costs	`OperatingCostsAndExpenses`	$491.34K	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-491.34K	USD	Annual
Change in fair value of over-allotment	`UnrealizedGainLossOnDerivatives`	$193.47K	USD	Annual
Issuance cost of over-allotment	`DerivativeGainLossOnDerivativeNet`	$-23.44K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$5.80K	USD	Annual
Total other income	`OtherOperatingIncomeExpenseNet`	$175.83K	USD	Annual
Net loss	`NetIncomeLoss`	$-315.51K	USD	Annual
Basic and diluted weighted average shares outstanding of Class A ordinary shares (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	9.32M	shares	Annual
Basic and diluted net loss per share, Class A ordinary shares (in Dollars per share)	`EarningsPerShareBasic`	$-0.02	USD	Annual
Basic and diluted weighted average shares outstanding of Class B ordinary shares (in Shares)	`WeightedAverageSharesOutstandingOfClassBOrdinarySharesinShares`	7.49M	shares	Annual
Basic and diluted net loss per share, Class B ordinary shares (in Dollars per share)	`EarningsPerShareBasic`	$-0.02	USD	Annual

Cash Flow Statement 29 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-315.51K	USD	Annual
Formation cost paid by Sponsor in exchange of issuance of Class B ordinary shares	`FormationCostPaidByTheSponsorInExchangeForIssuanceOfClassBOrdinaryShares`	$11.39K	USD	Annual
Operating expense paid by promissory note - related party	`RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty`	$8.50K	USD	Annual
Change in fair value of over-allotment	`FairValueAdjustmentOfWarrants`	$-193.47K	USD	Annual
Gain on expired over-allotment	`GainLossOnSaleOfOtherAssets`	$-23.44K	USD	Annual
Interest earned on cash held in trust account	`GainLossOnSaleOfInvestments`	$5.80K	USD	Annual
Prepaid assets	`IncreaseDecreaseInPrepaidExpense`	$475.53K	USD	Annual
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$326.03K	USD	Annual
Due to related party	`IncreaseDecreaseInDueToRelatedParties`	$1.03K	USD	Annual
Accrued offering costs and expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$67.42K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.20M	USD	Annual
Investment of cash in Trust Account	`PaymentsToAcquireOtherInvestments`	$329.75M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-329.75M	USD	Annual
Proceeds from issuance of Private Placement Warrants	`ProceedsFromIssuanceOfPrivatePlacement`	$6.84M	USD	Annual
Proceeds from sale of Units, net of underwriting discount	`ProceedsFromOtherEquity`	$325.15M	USD	Annual
Payment of promissory note related party	`RepaymentsOfRelatedPartyDebt`	$188.81K	USD	Annual
Payment of offering costs	`PaymentsOfStockIssuanceCosts`	$497.02K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$331.31M	USD	Annual
Net change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$359.61K	USD	Annual
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$359.61K	USD	Point-in-time
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	-	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$359.61K	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	-	USD	Point-in-time
Offering costs paid by Sponsor in exchange for issuance of Class B ordinary shares	`StockIssued1`	$13.61K	USD	Annual
Offering costs paid by promissory note - related party	`DeferredOfferingCostPaidByRelatedParty`	$180.31K	USD	Annual
Capital contribution for excess fair value of Class B shares sold by the Sponsor to Anchor Investors determined to be offering cost	`CapitalContributionForExcessFairValueOfClassBSharesSoldByTheSponsorToAnchorInvestor`	$9.68M	USD	Annual
Deferred underwriting commissions payable charged to additional paid in capital	`DeferredUnderwritingCommissionsPayableChargedToAdditionalPaidInCapital`	$11.54M	USD	Annual
Remeasurement of Class A ordinary shares subject to possible redemption	`AccretionOfClassAOrdinarySharesSubjectToPossibleRedemption`	$36.82M	USD	Annual
Accrued offering costs	`AccruedOfferingCosts`	$151.00K	USD	Annual

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Sale of private placement warrants	`SaleOfStockNumberOfSharesIssuedInTransaction`	6.84M	shares	Annual
Forfeiture of founder shares	`ForfeitureOfFounderShares`	381,250.00	shares	Annual
Balance	`StockholdersEquity`	$3.28M	USD	Point-in-time
Balance	`StockholdersEquity`	-	USD	Point-in-time
Issuance of Class B ordinary shares to initial shareholders	`StockIssuedDuringPeriodValueNewIssues`	$25.00K	USD	Annual
Sale of 6,845,000 Private Placement Warrants, net of offering costs	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$6.83M	USD	Annual
Capital contribution for sale of Class B shares to Anchor Investors	`StockIssuedDuringPeriodValueIssuedForServices`	$9.68M	USD	Annual
Sale of 1,386,989 Units not subject to redemption, net of underwriter discount and offering costs	`OfferingCostsAllocatedToWarrantsAndClassASharesNotSubjectToRedemption`	$12.76M	USD	Annual
Allocated proceeds to Public Warrants, net of underwriter discount and offering consts	`AllocatedProceedsToPublicWarrants`	$11.03M	USD	Annual
Forfeiture of 381,250 Class B founder shares	`StockIssuedDuringPeriodValueShareBasedCompensationForfeited`	-	USD	Annual
Fair value of expired over-allotment option	`FairValueOfExpiredOverallotmentOption`	$87.83K	USD	Annual
Remeasurement of Class A ordinary shares subject to redemption	`StockRedeemedOrCalledDuringPeriodValue`	$-36.82M	USD	Annual
Net loss	`ProfitLoss`	$-315.51K	USD	Annual
Balance	`StockholdersEquity`	$3.28M	USD	Point-in-time
Balance	`StockholdersEquity`	-	USD	Point-in-time

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