Welsbach Technology Metals Acquisition Corp
For the period ended Dec 31, 2023. Filed Apr 16, 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 Apr 16, 2024
EMAT$1.22-44.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| For the Year Ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net loss | $(54,322) | $(2,390,719) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Income on investments held in Trust Account | (2,168,659) | (1,121,159) |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other assets | 24,167 | 307,633 |
| Due to affiliates | 88,000 | 125,990 |
| Accounts payable | 1,027,499 | 1,818,627 |
| Franchise tax payable | (83,384) | 102,634 |
| Income taxes payable | (180,688) | 180,688 |
| NET CASH USED IN OPERATING ACTIVITIES | (1,347,387) | (976,306) |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Cash deposited to Trust Account | (750,000) | (3,822,397) |
| Notes receivable - related party | (124,166) | — |
| Repayment of notes receivable - related party | 124,166 | — |
| Cash withdrawn from Trust Account in connection with redemption | 58,351,987 | — |
| Cash withdrawn from Trust Account to pay franchise and income taxes | 442,599 | 298,414 |
| NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | 58,044,586 | (3,523,983) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Proceeds from exercise of over-allotment option | — | 2,276,860 |
| Proceeds from sale of private units to sponsor | — | 45,540 |
| Proceeds from convertible promissory note - related party | 1,299,934 | 1,545,537 |
| Redemption of common stock - due to shareholders | (58,351,987) | — |
| Payment of offering costs | — | (45,541) |
| NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES | (57,052,053) | 3,822,396 |
| NET CHANGE IN CASH AND RESTRICTED CASH | (354,854) | (677,893) |
| CASH AND RESTRICTED CASH, BEGINNING OF PERIOD | 523,063 | 1,200,956 |
| CASH AND RESTRICTED CASH, END OF PERIOD | $168,209 | $523,063 |
| CASH AND RESTRICTED CASH, END OF PERIOD | ||
| Cash | $6,760 | $309,881 |
| Restricted cash | 161,449 | 213,182 |
| CASH AND RESTRICTED CASH, END OF PERIOD | $168,209 | $523,063 |
| Supplemental cash flow information: | ||
| Cash paid during the year for: | ||
| Income tax | $188,177 | $— |
| Franchise tax | $306,155 | $85,232 |
| Supplemental disclosure on noncash activities: | ||
| Deferred underwriting commission payable | $— | $79,690 |
| Excise tax on redemption of Class A common stock | $583,520 | $— |
| Accretion for redeemable common stock to redemption value | $2,688,399 | $2,435,776 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.