10-Q Filing

MultiSensor AI Holdings, Inc. CIK: 1863990 Q2 2023

Filing Information

Form Type	10-Q
Accession Number	`0001410578-23-002032`
Period End Date	20230630
Filing Date	20230821
Fiscal Year	2023
Fiscal Period	Q2
XBRL Instance	smapu-20230630x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 50 Income Statement 32 Cash Flow Statement 39 Stockholders Equity 23

Balance Sheet 50 line items

Line Item	Tag	Value	Unit	Period
Cash	`CashAndCashEquivalentsAtCarryingValue`	$222.27K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$255.45K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$33.33K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$162.98K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$385.25K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$288.78K	USD	Point-in-time
Investments held in Trust Account	`AssetsHeldInTrustNoncurrent`	$118.74M	USD	Point-in-time
Investments held in Trust Account	`AssetsHeldInTrustNoncurrent`	$17.24M	USD	Point-in-time
Total assets	`Assets`	$119.13M	USD	Point-in-time
Total assets	`Assets`	$17.53M	USD	Point-in-time
Accrued expenses	`AccruedOfferingCosts`	$245.02K	USD	Point-in-time
Accrued expenses	`AccruedOfferingCosts`	$239.02K	USD	Point-in-time
Franchise taxes payable	`FranchiseTaxesPayable`	$137.11K	USD	Point-in-time
Franchise taxes payable	`FranchiseTaxesPayable`	$68.40K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxes`	$83.54K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxes`	$32.10K	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
Excise tax payable	`SalesAndExciseTaxPayableCurrentAndNoncurrent`	$1.03M	USD	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilitiesNet`	$72.17K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Promissory Notes	`NotesPayable`	$276.50K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common shares, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Due to related party	`OtherLiabilitiesCurrent`	$21.36K	USD	Point-in-time
Common shares, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Due to related party	`OtherLiabilitiesCurrent`	$65.36K	USD	Point-in-time
Common shares, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common shares, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total liabilities	`Liabilities`	$1.72M	USD	Point-in-time
Total liabilities	`Liabilities`	$553.20K	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock subject to possible redemption, 1,634,944 and 11,500,000 shares at redemption value of $10.48 and $10.30, respectively, as of June 30, 2023 and December 31, 2022, respectively	`TemporaryEquityCarryingAmountAttributableToParent`	$17.14M	USD	Point-in-time
Common stock subject to possible redemption, 1,634,944 and 11,500,000 shares at redemption value of $10.48 and $10.30, respectively, as of June 30, 2023 and December 31, 2022, respectively	`TemporaryEquityCarryingAmountAttributableToParent`	$118.45M	USD	Point-in-time
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.0001 par value; 100,000,000 shares authorized; 3,550,000 shares issued and outstanding (excluding 1,634,944 and 11,500,000 shares subject to possible redemption) as of June 30, 2023 and December 31, 2022, respectively	`CommonStockValue`	$356.00	USD	Point-in-time
Common stock, $0.0001 par value; 100,000,000 shares authorized; 3,550,000 shares issued and outstanding (excluding 1,634,944 and 11,500,000 shares subject to possible redemption) as of June 30, 2023 and December 31, 2022, respectively	`CommonStockValue`	$356.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$497.12K	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-377.09K	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-1.33M	USD	Point-in-time
Total Stockholders' (Deficit) Equity	`StockholdersEquity`	$-1.33M	USD	Point-in-time
Total Stockholders' (Deficit) Equity	`StockholdersEquity`	$120.38K	USD	Point-in-time
Total Liabilities, Redeemable Common Stock and Stockholders' (Deficit) Equity	`LiabilitiesAndStockholdersEquity`	$119.13M	USD	Point-in-time
Total Liabilities, Redeemable Common Stock and Stockholders' (Deficit) Equity	`LiabilitiesAndStockholdersEquity`	$17.53M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Operating cost	`OperatingCostsAndExpenses`	$541.56K	USD	2 Qtrs
Operating cost	`OperatingCostsAndExpenses`	$432.33K	USD	1 Quarter
Operating cost	`OperatingCostsAndExpenses`	$952.52K	USD	2 Qtrs
Operating cost	`OperatingCostsAndExpenses`	$314.39K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-432.33K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-314.39K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-541.56K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-952.52K	USD	2 Qtrs
Interest earned on investments held in Trust Account	`InvestmentIncomeInterest`	$236.59K	USD	2 Qtrs
Interest earned on investments held in Trust Account	`InvestmentIncomeInterest`	$196.31K	USD	1 Quarter
Interest earned on investments held in Trust Account	`InvestmentIncomeInterest`	$481.54K	USD	1 Quarter
Interest earned on investments held in Trust Account	`InvestmentIncomeInterest`	$1.77M	USD	2 Qtrs
Accrued interest on Promissory Notes	`AccruedInterestOnPromissoryNotes`	$911.17K	USD	1 Quarter
Accrued interest on Promissory Notes	`AccruedInterestOnPromissoryNotes`	$911.17K	USD	2 Qtrs
Total other (expense) income, net	`NonoperatingIncomeExpense`	$854.41K	USD	2 Qtrs
Total other (expense) income, net	`NonoperatingIncomeExpense`	$196.31K	USD	1 Quarter
Total other (expense) income, net	`NonoperatingIncomeExpense`	$-429.63K	USD	1 Quarter
Total other (expense) income, net	`NonoperatingIncomeExpense`	$236.59K	USD	2 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-861.96K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-304.97K	USD	2 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-98.11K	USD	2 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-118.07K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$97.26K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$12.15K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$355.92K	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$12.15K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-130.23K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-317.12K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$505.19K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-186.89K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-454.03K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-959.22K	USD	1 Quarter

Cash Flow Statement 39 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-454.03K	USD	2 Qtrs
Net loss	`ProfitLoss`	$-317.12K	USD	2 Qtrs
Accrued interest on Promissory Notes	`AccruedInterestOnPromissoryNotes`	$911.17K	USD	1 Quarter
Accrued interest on Promissory Notes	`AccruedInterestOnPromissoryNotes`	$911.17K	USD	2 Qtrs
Interest earned on investments held in Trust Account	`InterestEarnedOnInvestmentHeldInTrustAccount`	$1.77M	USD	2 Qtrs
Interest earned on investments held in Trust Account	`InterestEarnedOnInvestmentHeldInTrustAccount`	$236.59K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-129.65K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-181.00K	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$5.99K	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-28.23K	USD	2 Qtrs
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$12.15K	USD	2 Qtrs
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-51.44K	USD	2 Qtrs
Deferred tax payable	`IncreaseDecreaseInDeferredLiabilities`	$-72.17K	USD	2 Qtrs
Franchise tax payable	`FranchiseTaxExpense`	$-68.71K	USD	2 Qtrs
Due to related party	`IncreaseDecreaseInDueToRelatedParties`	$44.00K	USD	2 Qtrs
Due to related party	`IncreaseDecreaseInDueToRelatedParties`	$-8.08K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.32M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-396.88K	USD	2 Qtrs
Extension funding of Trust Account	`ExtensionFundingOfTrustAccount`	$245.24K	USD	2 Qtrs
Funds withdrawn from Trust Account for redemptions	`ProceedsFromFundsWithdrawnFromTrustAccountForRedemptions`	$102.90M	USD	2 Qtrs
Cash withdrawn from Trust Account to pay taxes	`ProceedsFromCashWithdrawnFromTrustAccountTaxPaid`	$618.08K	USD	2 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$103.27M	USD	2 Qtrs
Proceeds from issuance of Promissory Note	`ProceedsFromNotesPayable`	$981.46K	USD	2 Qtrs
Payment of redemptions on Common Stock	`PaymentOfRedemptionsOnCommonStock`	$102.90M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-101.92M	USD	2 Qtrs
Net Change in Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$33.19K	USD	2 Qtrs
Net Change in Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-396.88K	USD	2 Qtrs
Cash - Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$222.27K	USD	Point-in-time
Cash - Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$255.45K	USD	Point-in-time
Cash - Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$534.39K	USD	Point-in-time
Cash - Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$931.27K	USD	Point-in-time
Cash - End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$222.27K	USD	Point-in-time
Cash - End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$255.45K	USD	Point-in-time
Cash - End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$534.39K	USD	Point-in-time
Cash - End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$931.27K	USD	Point-in-time
Discount on Promissory Notes for fair value of shares transferred	`DiscountOnPromissoryNotesForFairValueOfSharesTransferred`	$1.62M	USD	2 Qtrs
Excise tax liability accrued for common stock redemptions	`ExciseTaxLiabilityAccruedForCommonStockRedemptions`	$1.03M	USD	2 Qtrs
Remeasurement of common stock subject to possible redemption	`RemeasurementsOfCommonStockSubjectToPossibleRedemption`	$1.58M	USD	2 Qtrs
Remeasurement of common stock subject to possible redemption	`RemeasurementsOfCommonStockSubjectToPossibleRedemption`	$135.37K	USD	2 Qtrs

Stockholders Equity 23 line items

Line Item	Tag	Value	Unit	Period
Balance at the beginning	`StockholdersEquityAmountAttributableToParent`	$1.05M	USD	Point-in-time
Balance at the beginning	`StockholdersEquityAmountAttributableToParent`	$-347.50K	USD	Point-in-time
Balance at the beginning	`StockholdersEquityAmountAttributableToParent`	$-1.33M	USD	Point-in-time
Balance at the beginning	`StockholdersEquityAmountAttributableToParent`	$1.24M	USD	Point-in-time
Balance at the beginning	`StockholdersEquityAmountAttributableToParent`	$120.38K	USD	Point-in-time
Balance at the beginning	`StockholdersEquityAmountAttributableToParent`	$785.62K	USD	Point-in-time
Fair value of founder shares transferred on Promissory Notes	`FairValueOfFounderSharesTransferredOnPromissoryNotes`	$1.62M	USD	1 Quarter
Excise tax imposed on common stock redemptions	`ExciseTaxImposedOnCommonStockRedemptions`	$1.03M	USD	1 Quarter
Remeasurement of carrying value to redemption value of shares subject to possible redemption	`TemporaryEquityAccretionToRedemptionValueAdjustment`	$973.07K	USD	1 Quarter
Remeasurement of carrying value to redemption value of shares subject to possible redemption	`TemporaryEquityAccretionToRedemptionValueAdjustment`	$611.12K	USD	1 Quarter
Remeasurement of carrying value to redemption value of shares subject to possible redemption	`TemporaryEquityAccretionToRedemptionValueAdjustment`	$135.37K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-130.23K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-317.12K	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$505.19K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-186.89K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-454.03K	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-959.22K	USD	1 Quarter
Balance at the end	`StockholdersEquityAmountAttributableToParent`	$1.05M	USD	Point-in-time
Balance at the end	`StockholdersEquityAmountAttributableToParent`	$-347.50K	USD	Point-in-time
Balance at the end	`StockholdersEquityAmountAttributableToParent`	$-1.33M	USD	Point-in-time
Balance at the end	`StockholdersEquityAmountAttributableToParent`	$1.24M	USD	Point-in-time
Balance at the end	`StockholdersEquityAmountAttributableToParent`	$120.38K	USD	Point-in-time
Balance at the end	`StockholdersEquityAmountAttributableToParent`	$785.62K	USD	Point-in-time

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