10-Q Filing

AST SPACEMOBILE, INC. CIK: 1780312 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001493152-21-012084`
Period End Date	20210331
Filing Date	20210518
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	asts-20210331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 26 Cash Flow Statement 44 Stockholders Equity 12

Balance Sheet 54 line items

Line Item	Tag	Value	Unit	Period
Common stock, shares subject to possible redemption	`TemporaryEquityAggregateAmountOfRedemptionRequirement`	$14.98M	USD	Point-in-time
Common stock, shares subject to possible redemption	`TemporaryEquityAggregateAmountOfRedemptionRequirement`	$14.92M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$50.05M	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
Cash	`CashAndCashEquivalentsAtCarryingValue`	$131.15K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$23.28K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$47.67K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Prepaid income tax	`PrepaidIncomeTax`	$54.44K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Prepaid income tax	`PrepaidIncomeTax`	$54.44K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$208.87K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$50.15M	USD	Point-in-time
Marketable securities held in Trust Account	`MarketableSecuritiesNoncurrent`	$231.91M	USD	Point-in-time
Marketable securities held in Trust Account	`MarketableSecuritiesNoncurrent`	$232.20M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$232.40M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$282.07M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$634.29K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.26M	USD	Point-in-time
Promissory note - related party	`DueToRelatedPartiesCurrent`	$600.00K	USD	Point-in-time
Promissory note - related party	`DueToRelatedPartiesCurrent`	-	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$634.29K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.86M	USD	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilitiesNet`	-	USD	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilitiesNet`	$9.68K	USD	Point-in-time
Deposit from investors	`RelatedPartyDepositLiabilities`	$50.00M	USD	Point-in-time
Deposit from investors	`RelatedPartyDepositLiabilities`	-	USD	Point-in-time
Deferred underwriting fee payable	`DeferredUnderwritingFeePayable`	$8.05M	USD	Point-in-time
Deferred underwriting fee payable	`DeferredUnderwritingFeePayable`	$8.05M	USD	Point-in-time
Warrant liabilities	`WarrantLiabilities`	$68.11M	USD	Point-in-time
Warrant liabilities	`WarrantLiabilities`	$66.09M	USD	Point-in-time
Total Liabilities	`Liabilities`	$76.81M	USD	Point-in-time
Total Liabilities	`Liabilities`	$125.99M	USD	Point-in-time
Commitments and Contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Class A common stock subject to possible redemption, 14,982,488 and 14,922,915 shares at redemption value as of March 31, 2021 and December 31, 2020, respectively	`TemporaryEquityValueExcludingAdditionalPaidInCapital`	$150.60M	USD	Point-in-time
Class A common stock subject to possible redemption, 14,982,488 and 14,922,915 shares at redemption value as of March 31, 2021 and December 31, 2020, respectively	`TemporaryEquityValueExcludingAdditionalPaidInCapital`	$151.07M	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
Additional paid-in capital	`AdditionalPaidInCapital`	$59.84M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$59.24M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-54.84M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-54.25M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$5.00M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$5.00M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$5.00M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$5.00M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$282.07M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$232.40M	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Operating costs	`OperatingExpenses`	$1.43M	USD	1 Quarter
Operating costs	`OperatingExpenses`	$185.26K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-185.26K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.43M	USD	1 Quarter
Changes in fair value of warrant liabilities	`FairValueAdjustmentOfWarrants`	$-2.03M	USD	1 Quarter
Changes in fair value of warrant liabilities	`FairValueAdjustmentOfWarrants`	$-6.92M	USD	1 Quarter
Interest income on marketable securities held in Trust Account	`InterestIncomeOnMarketableSecuritiesHeldInTrustAccount`	$886.10K	USD	1 Quarter
Interest income on marketable securities held in Trust Account	`InterestIncomeOnMarketableSecuritiesHeldInTrustAccount`	$21.20K	USD	1 Quarter
Unrealized gain on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	-	USD	1 Quarter
Unrealized gain on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$371.63K	USD	1 Quarter
Other income	`NonoperatingIncomeExpense`	$8.18M	USD	1 Quarter
Other income	`NonoperatingIncomeExpense`	$2.05M	USD	1 Quarter
Profit before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$614.36K	USD	1 Quarter
Profit before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$8.00M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$225.22K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$17.31K	USD	1 Quarter
Net Income	`NetIncomeLoss`	$597.05K	USD	1 Quarter
Net Income	`NetIncomeLoss`	$7.77M	USD	1 Quarter
Weighted average common shares subject to possible redemption outstanding, basic and diluted	`WeightedAverageCommonSharesSubjectToPossibleRedemptionOutstandingBasicAndDiluted`	14.92M	shares	1 Quarter
Weighted average common shares subject to possible redemption outstanding, basic and diluted	`WeightedAverageCommonSharesSubjectToPossibleRedemptionOutstandingBasicAndDiluted`	20.16M	shares	1 Quarter
Basic and diluted income per common share subject to possible redemption	`BasicAndDilutedIncomePerCommonShareSubjectToPossibleRedemption`	$0.04	USD	1 Quarter
Basic and diluted income per common share subject to possible redemption	`BasicAndDilutedIncomePerCommonShareSubjectToPossibleRedemption`	-	USD	1 Quarter
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	13.83M	shares	1 Quarter
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	8.59M	shares	1 Quarter
Basic and diluted net income per non-redeemable common share	`EarningsPerShareBasicAndDiluted`	$0.04	USD	1 Quarter
Basic and diluted net income per non-redeemable common share	`EarningsPerShareBasicAndDiluted`	$0.80	USD	1 Quarter

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$597.05K	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.77M	USD	1 Quarter
Interest earned on securities held in Trust Account	`InterestIncomeOnMarketableSecuritiesHeldInTrustAccount`	$886.10K	USD	1 Quarter
Interest earned on securities held in Trust Account	`InterestIncomeOnMarketableSecuritiesHeldInTrustAccount`	$21.20K	USD	1 Quarter
Unrealized loss on securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	-	USD	1 Quarter
Unrealized loss on securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$371.63K	USD	1 Quarter
Deferred income provision (benefit)	`DeferredIncomeTaxesAndTaxCredits`	$74.43K	USD	1 Quarter
Deferred income provision (benefit)	`DeferredIncomeTaxesAndTaxCredits`	$-9.68K	USD	1 Quarter
Change in fair value of warrant liabilities	`FairValueAdjustmentOfWarrants`	$-2.03M	USD	1 Quarter
Change in fair value of warrant liabilities	`FairValueAdjustmentOfWarrants`	$-6.92M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$9.02K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$24.39K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$623.98K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$3.63K	USD	1 Quarter
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$150.79K	USD	1 Quarter
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	-	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-862.24K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-190.65K	USD	1 Quarter
Interest withdrawn for tax payments	`PaymentToInterestWithdrawnForTaxPayments`	$303.23K	USD	1 Quarter
Interest withdrawn for tax payments	`PaymentToInterestWithdrawnForTaxPayments`	$217.15K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$303.23K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$217.15K	USD	1 Quarter
Proceeds from Investors due to PIPE Financing	`ProceedsFromInvestorsDueToFinancing`	$50.00M	USD	1 Quarter
Proceeds from Investors due to PIPE Financing	`ProceedsFromInvestorsDueToFinancing`	-	USD	1 Quarter
Proceeds from promissory note - related party	`ProceedsFromRelatedPartyDebt`	$600.00K	USD	1 Quarter
Proceeds from promissory note - related party	`ProceedsFromRelatedPartyDebt`	-	USD	1 Quarter
Redemption of Common Shares	`RedemptionOfCommonShares`	$119.41K	USD	1 Quarter
Redemption of Common Shares	`RedemptionOfCommonShares`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$50.48M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net Change in Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$49.92M	USD	1 Quarter
Net Change in Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$26.50K	USD	1 Quarter
Cash - Beginning	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$493.13K	USD	Point-in-time
Cash - Beginning	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$519.63K	USD	Point-in-time
Cash - Beginning	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$131.15K	USD	Point-in-time
Cash - Beginning	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$50.05M	USD	Point-in-time
Cash - Ending	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$493.13K	USD	Point-in-time
Cash - Ending	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$519.63K	USD	Point-in-time
Cash - Ending	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$131.15K	USD	Point-in-time
Cash - Ending	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$50.05M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$26.99K	USD	1 Quarter
Change in value of shares subject to redemption	`ChangeInValueOfSharesSubjectToRedemption`	$7.77M	USD	1 Quarter
Change in value of shares subject to redemption	`ChangeInValueOfSharesSubjectToRedemption`	$477.65K	USD	1 Quarter

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Change in value of Class A common stock subject to possible redemption	`StockRedeemedOrCalledDuringPeriodValue`	$-597.05K	USD	1 Quarter
Change in value of Class A common stock subject to possible redemption	`StockRedeemedOrCalledDuringPeriodValue`	$-7.77M	USD	1 Quarter
Net income	`NetIncomeLoss`	$597.05K	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.77M	USD	1 Quarter
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time

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