10-Q Filing

USA Rare Earth, Inc. CIK: 1970622 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001213900-23-055893`
Period End Date	20230331
Filing Date	20230710
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	f10q0323_inflection2_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 19 Income Statement 6 Cash Flow Statement 13 Stockholders Equity 6

Balance Sheet 19 line items

Line Item	Tag	Value	Unit	Period
Current assets prepaid expenses	`PrepaidExpenseCurrent`	$8.25K	USD	Point-in-time
Deferred offering costs	`DeferredOfferingCosts`	$248.15K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$256.40K	USD	Point-in-time
Preferred shares, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accrued offering costs and expenses	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$166.15K	USD	Point-in-time
Promissory note related party	`ConvertibleNotesPayableCurrent`	$71.45K	USD	Point-in-time
Preferred shares, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$237.60K	USD	Point-in-time
Preferred shares, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred shares, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Preferred 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; none issued and outstanding	`CommonStockValue`	-	USD	Point-in-time
Class B ordinary shares, $0.0001 par value; 50,000,000 shares authorized; 6,325,000 shares issued and outstanding(1)	`CommonStockValue1`	$633.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$24.37K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-6.20K	USD	Point-in-time
TOTAL SHAREHODERS EQUITY	`StockholdersEquity`	-	USD	Point-in-time
TOTAL SHAREHODERS EQUITY	`StockholdersEquity`	$18.80K	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$256.40K	USD	Point-in-time

Income Statement 6 line items

Line Item	Tag	Value	Unit	Period
Formation and operating costs	`OperatingExpenses`	$6.20K	USD	Point-in-time
Diluted weighted average shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.50M	shares	Point-in-time
Diluted net loss per share	`EarningsPerShareDiluted`	-	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-6.20K	USD	Point-in-time
Basic weighted average shares outstanding (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	5.50M	shares	Point-in-time
Basic net loss per share (in Dollars per share)	`EarningsPerShareBasic`	-	USD	Point-in-time

Cash Flow Statement 13 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-6.20K	USD	Point-in-time
Formation costs paid by Sponsor in exchange for issuance of Class B ordinary shares	`NoncashMergerRelatedCosts`	$5.84K	USD	Point-in-time
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-358.00	USD	Point-in-time
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	-	USD	Point-in-time
Net Change in Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	-	USD	Point-in-time
Cash Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	-	USD	Point-in-time
Cash Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	-	USD	Point-in-time
Cash End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	-	USD	Point-in-time
Cash End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	-	USD	Point-in-time
Deferred offering costs paid by Sponsor in exchange for issuance of Class B ordinary shares	`DeferredOfferingCostsPaidBySponsorInExchangeForIssuanceOfClassBOrdinaryShares`	$11.00K	USD	Point-in-time
Deferred offering costs included in accrued offerings costs and expenses	`DeferredOfferingCostsIncludedInAccruedOfferingsCostsAndExpenses`	$166.15K	USD	Point-in-time
Deferred offering costs paid through promissory note related party	`DeferredOfferingCostsPaidThroughPromissoryNoteRelatedParty`	$71.00K	USD	Point-in-time
Prepaid services contributed by Sponsor in exchange for issuance of Class B ordinary shares	`PrepaidServicesContributedBySponsorInExchangeForIssuanceOfClassBOrdinaryShares`	$8.61K	USD	Point-in-time

Stockholders Equity 6 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	-	USD	Point-in-time
Balance	`StockholdersEquity`	$18.80K	USD	Point-in-time
Class B ordinary shares issued to Sponsor	`StockIssuedDuringPeriodValueNewIssues`	$25.00K	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-6.20K	USD	Point-in-time
Balance	`StockholdersEquity`	-	USD	Point-in-time
Balance	`StockholdersEquity`	$18.80K	USD	Point-in-time

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