Western Acquisition Ventures Corp
For the period ended Dec 31, 2023. Filed Apr 26, 2024.
View on SEC.govAbout this filing
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FY2023 · Filed Apr 26, 2024
CYCU$2.47+3.3%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Statements of Cash Flows
| | | | | | | |
|---|---|---|---|---|---|---|
| · · For the Years Ended | ||||||
| · · December 31, | ||||||
| · 2023 · 2022 | ||||||
| CASH FLOWS FROM OPERATING ACTIVITIES · · · · | ||||||
| Net loss | | $(1,034,593) | | $(700,925) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | | | | | | |
| Interest earned on marketable securities held in Trust Account | | | (372,050) | | | (1,566,410) |
| Change in fair value of derivative liability – Forward Purchase Agreement | | | 235,095 | | | — |
| Changes in operating assets and liabilities: | | | | | | |
| Prepaid expenses and other assets | | 276,738 | | | (286,076) | |
| Accounts payable, accrued expenses and income tax payable | | | 269,726 | | | 1,074,179 |
| Income tax payable | | | (177,915) | | | — |
| Franchise tax payable | | | (141,953) | | | 160,800 |
| Interest accrued on loan payable | | | 4,222 | | | — |
| Net cash used in operating activities | | | (940,730) | | | (1,318,432) |
| | | | | | | |
| CASH FLOWS FROM INVESTING ACTIVITIES | | | | | ||
| Cash deposited to Trust Account | | (60,100) | | | (116,150,000) | |
| Cash withdrawn from Trust Account in connection with redemption | | 114,329,594 | | | — | |
| Cash withdrawn from Trust Account to pay franchise and income taxes | | | — | | | 525,000 |
| Net cash provided by (used in) investing activities | | | 114,269,494 | | | (115,625,000) |
| | | | | | | |
| CASH FLOWS FROM FINANCING ACTIVITIES | | | | | ||
| Proceeds from initial public offering, net of underwriters’ discount | | — | | | 114,500,000 | |
| Proceeds from private placement | | — | | | 3,760,000 | |
| Proceeds from loan payable | | | 200,000 | | | — |
| Redemption of Common Stock | | | (114,329,594) | | | — |
| Payment of Sponsor loan | | | — | | | (80,000) |
| Payment of offering costs | | | — | | | (431,000) |
| Net cash (used in) provided by financing activities | | | (114,129,594) | | | 117,749,000 |
| | | | | | | |
| NET CHANGE IN CASH AND RESTRICTED CASH | | (800,830) | | | 805,568 | |
| CASH AND RESTRICTED CASH, BEGINNING OF YEAR | | | 809,481 | | | 3,913 |
| CASH AND RESTRICTED CASH, END OF YEAR | | $8,651 | | $809,481 | ||
| | | | | | | |
| Supplemental disclosure of cash flow information: | | | | | | |
| Cash paid for income taxes | | $250,739 | | $— | ||
| | | | | | | |
| Supplemental disclosure of noncash activities: | | | | | ||
| Accrual of amount to be funded by Sponsor for overwithdrawal of Trust Account | | $99,961 | | $— | ||
| Issuance of Forward Purchase Agreement | | $430,021 | | $— | ||
| Excise tax liability arising from redemption of shares | | $1,143,296 | | $— | ||
| Accretion of common stock subject to redemption value | | $337,983 | | $6,862,708 | ||
| | | | | | | |
| Reconciliation of Cash and Restricted Cash: | | | | | | |
| Cash – Beginning of Year | | $809,481 | | $3,913 | ||
| Restricted Cash – Beginning of Year | | $— | | $— | ||
| Cash and Restricted Cash – Beginning of Year | | $809,481 | | $3,913 | ||
| Cash – End of Year | | $— | | $809,481 | ||
| Restricted Cash – End of Year | | $8,651 | | $— | ||
| Cash and Restricted Cash – End of Year | | $8,651 | | $809,481 | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.