10-Q Filing

CYCURION, INC. CIK: 1868419 Q3 2022

Filing Information

Form Type	10-Q
Accession Number	`0001410578-22-003143`
Period End Date	20220930
Filing Date	20221110
Fiscal Year	2022
Fiscal Period	Q3
XBRL Instance	wavs-20220930x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 59 Income Statement 24 Cash Flow Statement 31 Stockholders Equity 26

Balance Sheet 59 line items

Line Item	Tag	Value	Unit	Period
Cash	`CashAndCashEquivalentsAtCarryingValue`	$3.91K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$475.81K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$283.08K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.91K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$758.89K	USD	Point-in-time
Prepaid expenses - non current	`PrepaidExpenseNoncurrent`	$85.47K	USD	Point-in-time
Deferred offering costs	`DeferredCosts`	$323.12K	USD	Point-in-time
Deferred offering costs	`DeferredCosts`	-	USD	Point-in-time
Investments held in Trust Account	`AssetsHeldInTrustNoncurrent`	$116.77M	USD	Point-in-time
Common stock subject to possible redemption, shares outstanding	`TemporaryEquitySharesOutstanding`	11.50M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$327.03K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$117.61M	USD	Point-in-time
Common stock subject to possible redemption, redemption price per share	`TemporaryEquityRedemptionPricePerShare`	$10.10	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$6.00K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$702.88K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accrued offering costs	`OfferingCostPayableCurrent`	$225.00K	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
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Note payable - related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$80.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Income Tax Payable	`AccruedIncomeTaxesCurrent`	$88.57K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Franchise tax payable	`FranchiseTaxPayableCurrent`	$-150.00K	USD	Point-in-time
Franchise tax payable	`FranchiseTaxPayableCurrent`	$-2.40K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	3.25M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	3.25M	shares	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$313.40K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$941.45K	USD	Point-in-time
Total liabilities	`Liabilities`	$941.45K	USD	Point-in-time
Total liabilities	`Liabilities`	$313.40K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	3.25M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	3.25M	shares	Point-in-time
COMMITMENTS AND CONTINGENCIES	`CommitmentsAndContingencies`	-	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES	`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
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock; $0.0001 par value; 50,000,000 shares authorized; 3,251,000 shares issued and outstanding	`CommonStockValue`	$323.00	USD	Point-in-time
Common stock; $0.0001 par value; 50,000,000 shares authorized; 3,251,000 shares issued and outstanding	`CommonStockValue`	$287.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$24.71K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.61M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.46M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-11.37K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$141.48K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$13.63K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$22.51K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	-	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$281.70K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$21.96K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$327.03K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$117.61M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Shares subject to forfeiture	`NumberOfSharesSubjectToForfeiture`	375,000.00	shares	Point-in-time
Professional fees and other expenses	`ProfessionalFeesAndOtherExpenses`	$1.45M	USD	3 Qtrs
Professional fees and other expenses	`ProfessionalFeesAndOtherExpenses`	$3.04K	USD	2 Qtrs
Professional fees and other expenses	`ProfessionalFeesAndOtherExpenses`	$545.00	USD	1 Quarter
Professional fees and other expenses	`ProfessionalFeesAndOtherExpenses`	$136.32K	USD	1 Quarter
Franchise tax	`FranchiseTax`	$54.26K	USD	1 Quarter
Franchise tax	`FranchiseTax`	$150.10K	USD	3 Qtrs
Income Tax Expense	`CostDirectTaxAndLicenses`	$88.57K	USD	3 Qtrs
Income Tax Expense	`CostDirectTaxAndLicenses`	$88.57K	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-3.04K	USD	2 Qtrs
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-545.00	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-279.15K	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-1.69M	USD	3 Qtrs
Unrealized gain on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$516.30K	USD	1 Quarter
Unrealized gain on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$615.94K	USD	3 Qtrs
TOTAL OTHER INCOME	`NonoperatingIncomeExpense`	$516.30K	USD	1 Quarter
TOTAL OTHER INCOME	`NonoperatingIncomeExpense`	$615.94K	USD	3 Qtrs
NET INCOME (LOSS)	`NetIncomeLoss`	$237.15K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$-722.40K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$-2.49K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$-1.08M	USD	3 Qtrs
NET INCOME (LOSS)	`NetIncomeLoss`	$-590.41K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$-545.00	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$-3.04K	USD	2 Qtrs

Cash Flow Statement 31 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-1.08M	USD	3 Qtrs
Net loss	`ProfitLoss`	$-3.04K	USD	2 Qtrs
Unrealized gain on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$516.30K	USD	1 Quarter
Unrealized gain on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$615.94K	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$368.55K	USD	3 Qtrs
Accounts payable, accrued expenses and income tax payables	`IncreaseDecreaseInAccountsPayableAccruedLiabilitiesAndIncomeTaxPayables`	$785.44K	USD	3 Qtrs
Accounts payable, accrued expenses and income tax payables	`IncreaseDecreaseInAccountsPayableAccruedLiabilitiesAndIncomeTaxPayables`	$1.60K	USD	2 Qtrs
Franchise tax payable	`IncreaseDecreaseInFranchiseTaxPayable`	$147.60K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.13M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.44K	USD	2 Qtrs
Cash deposited to Trust Account	`PaymentForDepositToTrustAccount`	$116.15M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-116.15M	USD	3 Qtrs
Proceeds from initial public offering, net of underwriters' discount	`ProceedsFromIssuanceInitialPublicOffering`	$25.00K	USD	2 Qtrs
Proceeds from initial public offering, net of underwriters' discount	`ProceedsFromIssuanceInitialPublicOffering`	$114.50M	USD	3 Qtrs
Proceeds from private placement	`ProceedsFromIssuanceOfPrivatePlacement`	$3.76M	USD	3 Qtrs
Proceeds from notes payable - related party	`ProceedsFromRelatedPartyDebt`	$55.00K	USD	2 Qtrs
Payment of Sponsor loan	`RepaymentsOfRelatedPartyDebt`	$80.00K	USD	3 Qtrs
Payment of offering costs	`PaymentsOfStockIssuanceCosts`	$431.00K	USD	3 Qtrs
Payment of offering costs	`PaymentsOfStockIssuanceCosts`	$67.12K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$117.75M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$12.88K	USD	2 Qtrs
NET CHANGE IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$471.90K	USD	3 Qtrs
NET CHANGE IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$11.44K	USD	2 Qtrs
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.44K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.91K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$475.81K	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.44K	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.91K	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$475.81K	USD	Point-in-time
Deferred offering costs included in accrued offering costs	`DeferredOfferingCostsIncludedInAccruedOfferingCostsAndExpenses`	$230.00K	USD	2 Qtrs
Accretion of common stock subject to possible redemption to redemption value	`AccretionOfCommonStockSubjectToPossibleRedemptionToRedemptionValue`	$6.09M	USD	3 Qtrs

Stockholders Equity 26 line items

Line Item	Tag	Value	Unit	Period
Balance at the beginning	`StockholdersEquity`	$141.48K	USD	Point-in-time
Balance at the beginning	`StockholdersEquity`	$13.63K	USD	Point-in-time
Balance at the beginning	`StockholdersEquity`	$1.00M	USD	Point-in-time
Balance at the beginning	`StockholdersEquity`	$22.51K	USD	Point-in-time
Balance at the beginning	`StockholdersEquity`	-	USD	Point-in-time
Balance at the beginning	`StockholdersEquity`	$281.70K	USD	Point-in-time
Balance at the beginning	`StockholdersEquity`	$21.96K	USD	Point-in-time
Sale of private placement units including over-allotment	`SaleOfPrivatePlacementUnitsIncludingOverAllotment`	$3.76M	USD	1 Quarter
Issuance of common stock to Sponsor	`StockIssuedDuringPeriodValueNewIssues`	$25.00K	USD	1 Quarter
Proceeds allocated to public warrants, net of offering costs	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$3.53M	USD	1 Quarter
Accretion of Common Stock subject to possible redemption to redemption value	`TemporaryEquityAccretionToRedemptionValueAdjustment`	$377.37K	USD	1 Quarter
Accretion of Common Stock subject to possible redemption to redemption value	`TemporaryEquityAccretionToRedemptionValueAdjustment`	$5.71M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$237.15K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-722.40K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-2.49K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.08M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-590.41K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-545.00	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-3.04K	USD	2 Qtrs
Balance at the end	`StockholdersEquity`	$141.48K	USD	Point-in-time
Balance at the end	`StockholdersEquity`	$13.63K	USD	Point-in-time
Balance at the end	`StockholdersEquity`	$1.00M	USD	Point-in-time
Balance at the end	`StockholdersEquity`	$22.51K	USD	Point-in-time
Balance at the end	`StockholdersEquity`	-	USD	Point-in-time
Balance at the end	`StockholdersEquity`	$281.70K	USD	Point-in-time
Balance at the end	`StockholdersEquity`	$21.96K	USD	Point-in-time

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