Sable Offshore Corp
For the period ended Dec 31, 2023. Filed Mar 28, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Mar 28, 2024
SOC$0.88-54.4%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Statements of Cash Flows
| For the Years Ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Cash Flows from Operating Activities: | ||
| Net loss | $(32,180,557) | $(2,590,948) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Interest income from Trust Account | (4,415,456) | (3,989,061) |
| Change in fair value of convertible promissory notes – related parties | 3,698,394 | 170,741 |
| Change in fair value of warrant liabilities | 27,064,500 | (498,000) |
| Changes in current assets and current liabilities: | ||
| Prepaid expenses | (8,389) | 512,296 |
| Accounts payable and accrued expenses | 2,328,026 | 4,350,391 |
| Income taxes payable | (330,151) | 330,151 |
| Net cash used in operating activities | (3,843,633) | (1,714,430) |
| Cash Flows from Investing Activities: | ||
| Cash withdrawn from Trust Account in connection with redemptions | 230,129,156 | — |
| Cash withdrawn from Trust Account to pay taxes | 1,446,193 | 786,918 |
| Net cash provided by investing activities | 231,575,349 | 786,918 |
| Cash Flows from Financing Activities: | ||
| Payments for redemptions of Class A common stock | (230,129,156) | — |
| Proceeds from convertible promissory notes – related parties | 1,080,000 | — |
| Proceeds from promissory notes - related party | 1,485,000 | 705,000 |
| Net cash (used in) provided by financing activities | (227,564,156) | 705,000 |
| Net Change in Cash | 167,560 | (222,512) |
| Cash — Beginning of period | 100,256 | 322,768 |
| Cash — End of period | $267,816 | $100,256 |
| Supplemental disclosure of non-cash investing and financing activities: | ||
| Conversion of Promissory Notes to Convertible Promissory Notes | $726,370 | $— |
| Remeasurement of Class A common stock subject to possible redemption | $3,301,702 | $2,847,008 |
| Excise tax payable as a result of redemptions of Class A common stock | $2,308,378 | $— |
| Initial measurement of fair value of Convertible Promissory Notes | $(533,200) | $(52,126) |
| Supplemental Disclosure of Cash Flow Information: | ||
| Payment of cash taxes | $1,246,194 | $426,918 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.