10-Q Filing

ALPHAVEST ACQUISITION CORP. CIK: 1937891 Q3 2023

Filing Information

Form Type	10-Q
Accession Number	`0001493152-23-039320`
Period End Date	20230930
Filing Date	20231103
Fiscal Year	2023
Fiscal Period	Q3
XBRL Instance	form10-q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 28 Cash Flow Statement 33 Stockholders Equity 28

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Temproary equity, redemption shares	`TemporaryEquitySharesOutstanding`	6.90M	shares	Point-in-time
Temproary equity, redemption shares	`TemporaryEquitySharesOutstanding`	6.90M	shares	Point-in-time
Temproary equity, redemption price per share	`TemporaryEquityRedemptionPricePerShare`	$10.20	USD	Point-in-time
Temproary equity, redemption price per share	`TemporaryEquityRedemptionPricePerShare`	$10.58	USD	Point-in-time
Cash	`Cash`	$659.03K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`Cash`	$57.84K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$47.62K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$82.77K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$105.46K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$741.81K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expenses Non-current	`PrepaidExpenseNoncurrent`	-	USD	Point-in-time
Prepaid expenses Non-current	`PrepaidExpenseNoncurrent`	$32.38K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Marketable securities held in trust account	`AssetsHeldInTrustNoncurrent`	$73.01M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Marketable securities held in trust account	`AssetsHeldInTrustNoncurrent`	$70.42M	USD	Point-in-time
Total Assets	`Assets`	$71.19M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Total Assets	`Assets`	$73.12M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.28M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.28M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.28M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.28M	shares	Point-in-time
Accounts Payable and accrued offering costs and expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$66.33K	USD	Point-in-time
Accounts Payable and accrued offering costs and expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$248.03K	USD	Point-in-time
Due to related party	`OtherLiabilitiesCurrent`	$9.84K	USD	Point-in-time
Due to related party	`OtherLiabilitiesCurrent`	$9.84K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$257.87K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$76.17K	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 (6,900,000 shares at $10.58 and $10.20 per share as of September 30, 2023 and December 31, 2022)	`TemporaryEquityCarryingAmountAttributableToParent`	$73.01M	USD	Point-in-time
Common stock subject to possible redemption (6,900,000 shares at $10.58 and $10.20 per share as of September 30, 2023 and December 31, 2022)	`TemporaryEquityCarryingAmountAttributableToParent`	$71.22M	USD	Point-in-time
Common stock subject to possible redemption (6,900,000 shares at $10.58 and $10.20 per share as of September 30, 2023 and December 31, 2022)	`TemporaryEquityCarryingAmountAttributableToParent`	$72.06M	USD	Point-in-time
Common stock subject to possible redemption (6,900,000 shares at $10.58 and $10.20 per share as of September 30, 2023 and December 31, 2022)	`TemporaryEquityCarryingAmountAttributableToParent`	$70.38M	USD	Point-in-time
Preferred stock, $0.0001 par value; 2,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.0001 par value; 2,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Ordinary shares, $0.0001 par value; 200,000,000 shares authorized; 2,280,500 shares issued and outstanding	`CommonStockValue`	$228.00	USD	Point-in-time
Ordinary shares, $0.0001 par value; 200,000,000 shares authorized; 2,280,500 shares issued and outstanding	`CommonStockValue`	$228.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$596.89K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	-	USD	Point-in-time
Retained earnings (Accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-42.58K	USD	Point-in-time
Retained earnings (Accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$29.07K	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	-	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$21.25K	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$358.22K	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$21.25K	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$29.30K	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$21.25K	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$554.54K	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$228.10K	USD	Point-in-time
Total Liabilities, Redeemable Common Stock, and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$71.19M	USD	Point-in-time
Total Liabilities, Redeemable Common Stock, and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$73.12M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Shares subject to forfeiture to underwriters	`StockIssuedDuringPeriodSharesShareBasedCompensationForfeited`	225,000.00	shares	3 Qtrs
Formation and operating costs	`OperatingCostsAndExpenses`	$487.19K	USD	3 Qtrs
Formation and operating costs	`OperatingCostsAndExpenses`	$3.75K	USD	3 Qtrs
Formation and operating costs	`OperatingCostsAndExpenses`	$198.82K	USD	1 Quarter
Formation and operating costs	`OperatingCostsAndExpenses`	-	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-487.19K	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-198.82K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	-	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-3.75K	USD	3 Qtrs
Interest income on investments held in trust account	`InvestmentIncomeInterest`	$2.59M	USD	3 Qtrs
Interest income on investments held in trust account	`InvestmentIncomeInterest`	$954.79K	USD	1 Quarter
Interest income on investments held in trust account	`InvestmentIncomeInterest`	-	USD	3 Qtrs
Interest income on investments held in trust account	`InvestmentIncomeInterest`	-	USD	1 Quarter
Bank interest income	`InterestIncomeOther`	$21.00	USD	1 Quarter
Bank interest income	`InterestIncomeOther`	-	USD	1 Quarter
Bank interest income	`InterestIncomeOther`	$175.00	USD	3 Qtrs
Bank interest income	`InterestIncomeOther`	-	USD	3 Qtrs
Total other income	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Total other income	`OtherNonoperatingIncomeExpense`	-	USD	3 Qtrs
Total other income	`OtherNonoperatingIncomeExpense`	$954.81K	USD	1 Quarter
Total other income	`OtherNonoperatingIncomeExpense`	$2.59M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	-	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$755.99K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$644.90K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-3.75K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$2.11M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-3.75K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$704.56K	USD	1 Quarter

Cash Flow Statement 33 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	-	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$755.99K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$644.90K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-3.75K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$2.11M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-3.75K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$704.56K	USD	1 Quarter
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$-67.53K	USD	3 Qtrs
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	-	USD	3 Qtrs
Deferred offering costs	`DeferredIncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Deferred offering costs	`DeferredIncomeTaxExpenseBenefit`	$-356.16K	USD	3 Qtrs
Accounts payable and accrued offering costs and expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$67.74K	USD	3 Qtrs
Accounts payable and accrued offering costs and expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-181.70K	USD	3 Qtrs
Due to related party	`IncreaseDecreaseInDueToRelatedParties`	$292.17K	USD	3 Qtrs
Due to related party	`IncreaseDecreaseInDueToRelatedParties`	-	USD	3 Qtrs
Trust investment income	`IncreaseDecreaseInMarketableSecuritiesRestricted`	-	USD	3 Qtrs
Trust investment income	`IncreaseDecreaseInMarketableSecuritiesRestricted`	$2.59M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	-	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-601.19K	USD	3 Qtrs
Net change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-601.19K	USD	3 Qtrs
Net change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	-	USD	3 Qtrs
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$659.03K	USD	Point-in-time
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	-	USD	Point-in-time
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$57.84K	USD	Point-in-time
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	-	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$659.03K	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	-	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$57.84K	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	-	USD	Point-in-time
Accretion for common stock subject to redemption amount	`AccretionForCommonStockSubjectToRedemptionAmount`	$2.63M	USD	3 Qtrs
Accretion for common stock subject to redemption amount	`AccretionForCommonStockSubjectToRedemptionAmount`	-	USD	3 Qtrs
Deferred offering costs paid by Sponsor in exchange for issuance of common stock	`DeferredOfferingCostsPaidBySponsorInExchangeForIssuanceOfCommonStock`	$25.00K	USD	3 Qtrs
Deferred offering costs paid by Sponsor in exchange for issuance of common stock	`DeferredOfferingCostsPaidBySponsorInExchangeForIssuanceOfCommonStock`	-	USD	3 Qtrs

Stockholders Equity 28 line items

Line Item	Tag	Value	Unit	Period
Shares subject to forfeiture to underwriters	`StockIssuedDuringPeriodSharesShareBasedCompensationForfeited`	225,000.00	shares	3 Qtrs
Balance	`StockholdersEquity`	-	USD	Point-in-time
Balance	`StockholdersEquity`	$21.25K	USD	Point-in-time
Balance	`StockholdersEquity`	$358.22K	USD	Point-in-time
Balance	`StockholdersEquity`	$21.25K	USD	Point-in-time
Balance	`StockholdersEquity`	$29.30K	USD	Point-in-time
Balance	`StockholdersEquity`	$21.25K	USD	Point-in-time
Balance	`StockholdersEquity`	$554.54K	USD	Point-in-time
Balance	`StockholdersEquity`	$228.10K	USD	Point-in-time
Accretion for common stock subject to redemption amount	`StockIssuedDuringPeriodValueForCommonStockSubjectToRedemptionAmount`	$-841.22K	USD	1 Quarter
Accretion for common stock subject to redemption amount	`StockIssuedDuringPeriodValueForCommonStockSubjectToRedemptionAmount`	$-834.68K	USD	1 Quarter
Accretion for common stock subject to redemption amount	`StockIssuedDuringPeriodValueForCommonStockSubjectToRedemptionAmount`	$-954.79K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	-	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$755.99K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$644.90K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-3.75K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$2.11M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-3.75K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$704.56K	USD	1 Quarter
Common stock issued to Sponsor	`StockIssuedDuringPeriodValueNewIssues`	$25.00K	USD	1 Quarter
Balance	`StockholdersEquity`	-	USD	Point-in-time
Balance	`StockholdersEquity`	$21.25K	USD	Point-in-time
Balance	`StockholdersEquity`	$358.22K	USD	Point-in-time
Balance	`StockholdersEquity`	$21.25K	USD	Point-in-time
Balance	`StockholdersEquity`	$29.30K	USD	Point-in-time
Balance	`StockholdersEquity`	$21.25K	USD	Point-in-time
Balance	`StockholdersEquity`	$554.54K	USD	Point-in-time
Balance	`StockholdersEquity`	$228.10K	USD	Point-in-time

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