BurTech Acquisition Corp
For the period ended Dec 31, 2023. Filed May 7, 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 May 7, 2024
BZAI$0.18-10.4%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 · · For the | ||||||
| · · Year Ended · · Year Ended | ||||||
| | December 31, 2023 | December 31, 2022 | ||||
| Cash flows from operating activities: | | | | | | |
| Net income | | $1,339,142 | | $1,673,607 | ||
| Adjustments to reconcile net income to net cash used in operating activities: | | | | | ||
| Interest earned on cash and marketable securities held in Trust Account | | | (5,751,596) | | | (3,989,294) |
| Changes in current assets and liabilities: | | | ||||
| Other Assets | | | 186,532 | | | 201,664 |
| Accrued expenses | | | 1,618,895 | | | (232,122) |
| Franchise tax payable | | | 35,800 | | | 188,914 |
| Income Tax Payable | | | 235,886 | | | 791,758 |
| Due to related party | | | — | | | (7,097) |
| Net cash used in operating activities | | | (2,335,341) | | | (1,372,570) |
| | | | | | | |
| Cash Flows from Investing Activities: | | | | | | |
| Investments held in Trust | | | (130,370) | | | — |
| Cash withdrawn from Trust Account used to pay franchise and income taxes | | | 1,314,246 | | | — |
| Restricted Cash | | | 843,313 | | | — |
| Due from Sponsor | | | 318,888 | | | |
| Cash withdrawn from Trust Account in connection with redemptions | | | 227,776,035 | | | — |
| Net cash provided by investing activities | | | 230,122,112 | | — | |
| | | | | | | |
| Cash flows from financing activities: | | | | | | |
| Proceeds from convertible promissory note – Related Party | | | 810,345 | | | — |
| Payment of note payable-related party | | | — | | | (144,746) |
| Redemptions of Common Stock | | | (227,776,035) | | | — |
| Net cash used in financing activities | | | (226,965,690) | | (144,746) | |
| | | | | | | |
| Net change in cash and restricted cash | | | 821,081 | | (1,517,316) | |
| Cash and restricted cash, beginning of the year | | | 22,232 | | 1,539,548 | |
| Cash and restricted cash, end of the year | | $843,313 | | $22,232 | ||
| | | | | | | |
| Supplemental disclosure of cash flow information: | | | | | | |
| Cash paid for income taxes | | $791,758 | | $— | ||
| Supplemental disclosure of non-cash investing and financing activities: | | | | | | |
| Excise tax liability arising from redemption of Class A shares | | $2,523,150 | | $— | ||
| Accretion of Class A common stock subject to possible redemption | | $4,510,051 | | $2,984,418 | ||
| Reconciliation of Cash and Restricted Cash: | | | | | | |
| Cash – Beginning of Year | | $22,232 | | $1,539,548 | ||
| Restricted Cash – Beginning of Year | | $— | | $— | ||
| Cash and Restricted Cash – Beginning of Year | | $22,232 | | $1,539,548 | ||
| | | | | | | |
| Cash – End of Year | | $— | | $22,232 | ||
| Restricted Cash – End of Year | | $843,313 | | $— | ||
| Cash and Restricted Cash – End of Year | | $843,313 | | $22,232 | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.