10-Q Filing

Intuitive Machines, Inc. CIK: 1844452 Q2 2022

Filing Information

Form Type	10-Q
Accession Number	`0001213900-22-047411`
Period End Date	20220630
Filing Date	20220812
Fiscal Year	2022
Fiscal Period	Q2
XBRL Instance	f10q0622_inflectionpoint_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 50 Income Statement 22 Cash Flow Statement 38 Stockholders Equity 20

Balance Sheet 50 line items

Line Item	Tag	Value	Unit	Period
Cash	`CashAndCashEquivalentsAtCarryingValue`	$2.63K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$359.61K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$475.53K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$486.41K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$489.04K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$835.14K	USD	Point-in-time
Prepaid expenses noncurrent portion	`PrepaidExpenseNoncurrent`	$103.35K	USD	Point-in-time
Prepaid expenses noncurrent portion	`PrepaidExpenseNoncurrent`	$326.03K	USD	Point-in-time
Marketable Securities held in Trust Account	`AssetsHeldInTrustNoncurrent`	$330.25M	USD	Point-in-time
Marketable Securities held in Trust Account	`AssetsHeldInTrustNoncurrent`	$329.76M	USD	Point-in-time
Total assets	`Assets`	$330.84M	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`	$330.92M	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`	$548.06K	USD	Point-in-time
Preference shares, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	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
Due to related party	`DueToRelatedPartiesCurrent`	$27.50K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$219.45K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$575.56K	USD	Point-in-time
Preference shares, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Preference shares, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	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`	$11.76M	USD	Point-in-time
Total liabilities	`Liabilities`	$12.12M	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`	$316.38M	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`	$3.09M	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`	$-744.65K	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$3.28M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$2.35M	USD	Point-in-time
Total Liabilities, Redeemable Ordinary Shares and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$330.84M	USD	Point-in-time
Total Liabilities, Redeemable Ordinary Shares and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$330.92M	USD	Point-in-time

Income Statement 22 line items

Line Item	Tag	Value	Unit	Period
Formation and operating costs	`OperatingCostsAndExpenses`	$577.02K	USD	1 Quarter
Formation and operating costs	`OperatingCostsAndExpenses`	$3.77K	USD	1 Quarter
Formation and operating costs	`OperatingCostsAndExpenses`	$19.89K	USD	2 Qtrs
Formation and operating costs	`OperatingCostsAndExpenses`	$924.89K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-3.77K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-924.89K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-19.89K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-577.02K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	-	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$468.34K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$495.76K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	-	USD	1 Quarter
Total other income	`OtherOperatingIncomeExpenseNet`	-	USD	1 Quarter
Total other income	`OtherOperatingIncomeExpenseNet`	$468.34K	USD	1 Quarter
Total other income	`OtherOperatingIncomeExpenseNet`	$495.76K	USD	2 Qtrs
Total other income	`OtherOperatingIncomeExpenseNet`	-	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-108.68K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-16.11K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-429.13K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-3.77K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-19.89K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-320.45K	USD	1 Quarter

Cash Flow Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-108.68K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-16.11K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-429.13K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-3.77K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-19.89K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-320.45K	USD	1 Quarter
Formation cost paid by Sponsor in exchange of issuance of Class B ordinary shares	`FormationCostPaidByTheSponsorInExchangeForIssuanceOfClassBOrdinaryShares`	$11.39K	USD	2 Qtrs
Formation cost paid by Sponsor in exchange of issuance of Class B ordinary shares	`FormationCostPaidByTheSponsorInExchangeForIssuanceOfClassBOrdinaryShares`	-	USD	2 Qtrs
Operating costs paid by related party	`OperatingCostsPaidByRelatedParty`	$8.50K	USD	2 Qtrs
Operating costs paid by related party	`OperatingCostsPaidByRelatedParty`	-	USD	2 Qtrs
Interest earned on marketable securities held in trust account	`GainLossOnSaleOfInvestments`	$495.76K	USD	2 Qtrs
Interest earned on marketable securities held in trust account	`GainLossOnSaleOfInvestments`	-	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-211.81K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	-	USD	2 Qtrs
Due to related party	`IncreaseDecreaseInDueToRelatedParties`	$26.47K	USD	2 Qtrs
Due to related party	`IncreaseDecreaseInDueToRelatedParties`	-	USD	2 Qtrs
Accrued offering costs and expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	-	USD	2 Qtrs
Accrued offering costs and expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$329.64K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	-	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-356.98K	USD	2 Qtrs
Net change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	-	USD	2 Qtrs
Net change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-356.98K	USD	2 Qtrs
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	-	USD	Point-in-time
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$359.61K	USD	Point-in-time
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.63K	USD	Point-in-time
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	-	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	-	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$359.61K	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.63K	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	-	USD	Point-in-time
Offering costs paid by Sponsor in exchange for issuance of Class B ordinary shares	`StockIssued1`	$13.61K	USD	2 Qtrs
Offering costs paid by Sponsor in exchange for issuance of Class B ordinary shares	`StockIssued1`	-	USD	2 Qtrs
Offering costs paid by promissory note - related party	`DeferredOfferingCostPaidByRelatedParty`	$162.01K	USD	2 Qtrs
Offering costs paid by promissory note - related party	`DeferredOfferingCostPaidByRelatedParty`	-	USD	2 Qtrs
Accrued offering costs	`AccruedOfferingCosts`	$304.44K	USD	2 Qtrs
Accrued offering costs	`AccruedOfferingCosts`	-	USD	2 Qtrs
Re-measurement of Class A ordinary shares subject to possible redemption	`AccretionOfClassAOrdinarySharesSubjectToPossibleRedemptioninShares`	-	USD	2 Qtrs
Re-measurement of Class A ordinary shares subject to possible redemption	`AccretionOfClassAOrdinarySharesSubjectToPossibleRedemptioninShares`	$501.56K	USD	2 Qtrs

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	-	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.11K	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$8.89K	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.96M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.35M	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	`NetIncomeLoss`	$-108.68K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-16.11K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-429.13K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-3.77K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-19.89K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-320.45K	USD	1 Quarter
Remeasurement of Class A ordinary shares subject to possible redemption	`StockRedeemedOrCalledDuringPeriodValue`	$-501.56K	USD	1 Quarter
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	-	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.11K	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$8.89K	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.96M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.35M	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.