10-Q Filing

QUANTUMSCAPE CORP CIK: 1811414 Q2 2020

Filing Information

Form Type	10-Q
Accession Number	`0001564590-20-037820`
Period End Date	20200630
Filing Date	20200806
Fiscal Year	2020
Fiscal Period	Q2
XBRL Instance	kcac-20200630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 25 Income Statement 5 Cash Flow Statement 23 Stockholders Equity 7

Balance Sheet 25 line items

Line Item	Tag	Value	Unit	Period
Temporary equity, redemption price per share	`TemporaryEquityRedemptionPricePerShare`	$10.00	USD	Point-in-time
Cash	`Cash`	$1.74M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$237.80K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.98M	USD	Point-in-time
Cash held in Trust Account	`AssetsHeldInTrustNoncurrent`	$230.00M	USD	Point-in-time
Total Assets	`Assets`	$231.98M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$255.68K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$117.00K	USD	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Franchise tax payable	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$40.55K	USD	Point-in-time
Note payable - related party	`DueToRelatedPartiesCurrent`	$75.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$488.22K	USD	Point-in-time
Deferred underwriting commissions	`DeferredUnderwritingCommissionsNonCurrent`	$8.05M	USD	Point-in-time
Total liabilities	`Liabilities`	$8.54M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Class A common stock, par value $0.0001 per share; 21,843,927 shares subject to possible redemption at $10.00 per share	`RedeemableNoncontrollingInterestEquityCommonCarryingAmount`	$218.44M	USD	Point-in-time
Preferred stock, par value $0.0001 per share; 1,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$5.06M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-62.86K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$5.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	-	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$231.98M	USD	Point-in-time

Income Statement 5 line items

Line Item	Tag	Value	Unit	Period
General and administrative expenses	`GeneralAndAdministrativeExpense`	$22.31K	USD	1 Quarter
Franchise tax expense	`FranchisorCosts`	$40.55K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-62.86K	USD	1 Quarter
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	5.03M	shares	1 Quarter
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter

Cash Flow Statement 23 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-62.86K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$25.30K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$227.50K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-207.50K	USD	1 Quarter
Franchise tax payable	`IncreaseDecreaseInPropertyAndOtherTaxesPayable`	$40.55K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-27.61K	USD	1 Quarter
Cash deposited in Trust Account	`PaymentsToAcquireInterestInSubsidiariesAndAffiliates`	$230.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-230.00M	USD	1 Quarter
Proceeds from issuance of Class B common stock to Sponsor	`ProceedsFromIssuanceOfCommonStock`	$25.00K	USD	1 Quarter
Proceeds received from note payable to related party	`ProceedsFromNotesPayable`	$75.00K	USD	1 Quarter
Proceeds received from initial public offering, gross	`ProceedsFromIssuanceInitialPublicOffering`	$230.00M	USD	1 Quarter
Proceeds received from private placement	`ProceedsFromIssuanceOfPrivatePlacement`	$6.58M	USD	1 Quarter
Offering costs paid	`PaymentsOfStockIssuanceCosts`	$4.91M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$231.77M	USD	1 Quarter
Net change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.74M	USD	1 Quarter
Cash - beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.74M	USD	Point-in-time
Cash - end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.74M	USD	Point-in-time
Offering costs included in accrued expenses	`NonCashOfferingCostsIncludedInAccruedExpenses`	$117.00K	USD	1 Quarter
Offering costs included in accounts payable	`NonCashOfferingCostsIncludedInAccountsPayable`	$23.18K	USD	1 Quarter
Deferred underwriting commissions in connection with the initial public offering	`NonCashDeferredUnderwritingCommissionsInConnectionWithInitialPublicOffering`	$8.05M	USD	1 Quarter
Initial value of common stock subject to possible redemption	`StockIssued1`	$218.44M	USD	1 Quarter
Prepaid expenses included in accrued expenses	`NonCashPrepaidExpensesIncludedInAccruedExpenses`	$207.50K	USD	1 Quarter
Prepaid expenses included in accounts payable	`NonCashPrepaidExpensesIncludedInAccountsPayable`	$5.00K	USD	1 Quarter

Stockholders Equity 7 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	-	USD	Point-in-time
Offering costs	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$13.10M	USD	1 Quarter
Common stock subject to possible redemption	`ValueOfSharesSubjectToPossibleRedemption`	$218.44M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-62.86K	USD	1 Quarter
Ending balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Ending balance	`StockholdersEquity`	-	USD	Point-in-time

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