10-Q Filing

Intuitive Machines, Inc. CIK: 1844452 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001213900-22-026085`
Period End Date	20220331
Filing Date	20220513
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	f10q0322_inflection_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 50 Income Statement 18 Cash Flow Statement 29 Stockholders Equity 11

Balance Sheet 50 line items

Line Item	Tag	Value	Unit	Period
Cash	`CashAndCashEquivalentsAtCarryingValue`	$163.78K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$359.61K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$511.38K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$475.53K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$835.14K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$675.17K	USD	Point-in-time
Prepaid expenses noncurrent portion	`PrepaidExpenseNoncurrent`	$215.30K	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
Marketable Securities held in Trust Account	`AssetsHeldInTrustNoncurrent`	$329.78M	USD	Point-in-time
Ordinary share subject to possible redemption	`OrdinaryShareSubjectToPossibleRedemption`	31.59M	shares	Point-in-time
Ordinary share subject to possible redemption	`OrdinaryShareSubjectToPossibleRedemption`	31.59M	shares	Point-in-time
Total assets	`Assets`	$330.67M	USD	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, 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
Accrued offering costs and expenses	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$296.62K	USD	Point-in-time
Preference shares, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	-	USD	Point-in-time
Preference shares, shares issued	`PreferredStockSharesIssued`	-	shares	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`	$296.62K	USD	Point-in-time
Preference shares, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Preference shares, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$219.45K	USD	Point-in-time
Deferred underwriting fee	`DeferredRevenueNoncurrent`	$11.54M	USD	Point-in-time
Deferred underwriting fee	`DeferredRevenueNoncurrent`	$11.54M	USD	Point-in-time
Total liabilities	`Liabilities`	$11.84M	USD	Point-in-time
Total liabilities	`Liabilities`	$11.76M	USD	Point-in-time
Commitments and Contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 6)	`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
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
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 shares issued and outstanding (excluding 31,588,011 shares subject to possible redemption)	`CommonStockValue`	$139.00	USD	Point-in-time
Class A ordinary shares, $0.0001 par value; 500,000,000 shares authorized; 1,386,989 shares 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
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
Additional paid-in capital	`AdditionalPaidInCapital`	$3.59M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-315.51K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-635.97K	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$3.28M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$2.96M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$330.67M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$330.92M	USD	Point-in-time

Income Statement 18 line items

Line Item	Tag	Value	Unit	Period
Formation and operating costs	`OperatingCostsAndExpenses`	$16.11K	USD	1 Quarter
Formation and operating costs	`OperatingCostsAndExpenses`	$347.87K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-16.11K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-347.87K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	-	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$27.41K	USD	1 Quarter
Total other income	`OtherOperatingIncomeExpenseNet`	-	USD	1 Quarter
Total other income	`OtherOperatingIncomeExpenseNet`	$27.41K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-16.11K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-320.45K	USD	1 Quarter
Basic and diluted weighted average shares outstanding of Class A ordinary shares (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	32.98M	shares	1 Quarter
Basic and diluted weighted average shares outstanding of Class A ordinary shares (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	-	shares	1 Quarter
Basic and diluted net loss per share, Class A ordinary shares (in Dollars per share)	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Basic and diluted net loss per share, Class A ordinary shares (in Dollars per share)	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic and diluted weighted average shares outstanding of Class B ordinary shares (in Shares)	`WeightedAverageSharesOutstandingOfClassBOrdinarySharesinShares`	7.50M	shares	1 Quarter
Basic and diluted weighted average shares outstanding of Class B ordinary shares (in Shares)	`WeightedAverageSharesOutstandingOfClassBOrdinarySharesinShares`	8.24M	shares	1 Quarter
Basic and diluted net loss per share, Class B ordinary shares (in Dollars per share)	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
Basic and diluted net loss per share, Class B ordinary shares (in Dollars per share)	`EarningsPerShareDiluted`	-	USD	1 Quarter

Cash Flow Statement 29 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-320.45K	USD	1 Quarter
Net loss	`ProfitLoss`	$-16.11K	USD	1 Quarter
Formation cost paid by Sponsor in exchange of issuance of Class B ordinary shares	`FormationCostPaidByTheSponsorInExchangeForIssuanceOfClassBOrdinaryShares`	$25.00K	USD	1 Quarter
Formation cost paid by Sponsor in exchange of issuance of Class B ordinary shares	`FormationCostPaidByTheSponsorInExchangeForIssuanceOfClassBOrdinaryShares`	-	USD	1 Quarter
Interest earned on marketable securities held in trust account	`GainLossOnSaleOfInvestments`	-	USD	1 Quarter
Interest earned on marketable securities held in trust account	`GainLossOnSaleOfInvestments`	$27.41K	USD	1 Quarter
Prepaid assets	`IncreaseDecreaseInPrepaidExpense`	$35.85K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-110.73K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$8.89K	USD	1 Quarter
Due to related party	`IncreaseDecreaseInDueToRelatedParties`	$-1.03K	USD	1 Quarter
Accrued offering costs and expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$78.20K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-195.83K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	-	USD	1 Quarter
Net change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	-	USD	1 Quarter
Net change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-195.83K	USD	1 Quarter
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$359.61K	USD	Point-in-time
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	-	USD	Point-in-time
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	-	USD	Point-in-time
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$163.78K	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
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	-	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$163.78K	USD	Point-in-time
Offering costs paid by Sponsor in exchange for issuance of Class B ordinary shares	`StockIssued1`	-	USD	1 Quarter
Offering costs paid by Sponsor in exchange for issuance of Class B ordinary shares	`StockIssued1`	$25.00K	USD	1 Quarter
Offering costs paid by promissory note - related party	`DeferredOfferingCostPaidByRelatedParty`	$133.67K	USD	1 Quarter
Offering costs paid by promissory note - related party	`DeferredOfferingCostPaidByRelatedParty`	-	USD	1 Quarter
Accrued offering costs	`AccruedOfferingCosts`	-	USD	1 Quarter
Accrued offering costs	`AccruedOfferingCosts`	$207.72K	USD	1 Quarter

Stockholders Equity 11 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.96M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$8.89K	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	-	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.28M	USD	Point-in-time
Issuance of Class B ordinary share to initial shareholders	`StockIssuedDuringPeriodValueNewIssues`	$25.00K	USD	1 Quarter
Net loss	`ProfitLoss`	$-320.45K	USD	1 Quarter
Net loss	`ProfitLoss`	$-16.11K	USD	1 Quarter
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.96M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$8.89K	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	-	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.28M	USD	Point-in-time

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