10-Q Filing

ARCHER AVIATION INC. CIK: 1824502 Q3 2020

Filing Information

Form Type	10-Q
Accession Number	`0001213900-20-041382`
Period End Date	20200930
Filing Date	20201207
Fiscal Year	2020
Fiscal Period	Q3
XBRL Instance	acicu-20200930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 19 Income Statement 4 Cash Flow Statement 12 Stockholders Equity 6

Balance Sheet 19 line items

Line Item	Tag	Value	Unit	Period
Current assets - cash	`Cash`	$145.80K	USD	Point-in-time
Deferred offering costs	`DeferredOfferingCosts`	$238.86K	USD	Point-in-time
Total Assets	`Assets`	$384.65K	USD	Point-in-time
Promissory note - related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$300.00K	USD	Point-in-time
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accrued offering costs	`OtherAccruedLiabilitiesCurrent`	$62.22K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Total Liabilities	`Liabilities`	$362.22K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Class A common stock, $0.0001 par value; 200,000,000 shares authorized; none issued and outstanding	`CommonStockValue`	-	USD	Point-in-time
Class B common stock, $0.0001 par value; 20,000,000 shares authorized; 14,375,000 shares issued and outstanding()	`CommonStockValueOne`	$1.44K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$23.56K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.57K	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	-	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$22.43K	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$384.65K	USD	Point-in-time

Income Statement 4 line items

Line Item	Tag	Value	Unit	Period
Operating and formation costs	`CostsAndExpenses`	$2.57K	USD	Point-in-time
Net Loss	`NetIncomeLoss`	$-2.57K	USD	Point-in-time
Weighted average shares outstanding, basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	12.50M	shares	Point-in-time
Basic and diluted net loss per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	-	USD	Point-in-time

Cash Flow Statement 12 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.57K	USD	Point-in-time
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.57K	USD	Point-in-time
Proceeds from the issuance of Class B common stock to Sponsor	`ProceedsFromIssuanceOfCommonStock`	$25.00K	USD	Point-in-time
Proceeds from promissory note - related party	`ProceedsFromRelatedPartyDebt`	$300.00K	USD	Point-in-time
Payment of offering costs	`PaymentsOfStockIssuanceCosts`	$176.63K	USD	Point-in-time
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$148.37K	USD	Point-in-time
Net Change in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$145.80K	USD	Point-in-time
Cash - Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash - Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$145.80K	USD	Point-in-time
Cash - End of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash - End of period	`CashAndCashEquivalentsAtCarryingValue`	$145.80K	USD	Point-in-time
Deferred offering costs included in accrued offering costs	`DeferredOfferingCostsIncludedInAccruedOfferingCosts`	$62.22K	USD	Point-in-time

Stockholders Equity 6 line items

Line Item	Tag	Value	Unit	Period
Balance,	`StockholdersEquity`	-	USD	Point-in-time
Balance,	`StockholdersEquity`	$22.43K	USD	Point-in-time
Issuance of Class B common stock to Sponsor	`StockIssuedDuringPeriodValueNewIssues`	$25.00K	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-2.57K	USD	Point-in-time
Balance,	`StockholdersEquity`	-	USD	Point-in-time
Balance,	`StockholdersEquity`	$22.43K	USD	Point-in-time

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