10-K Filing

CYCURION, INC. CIK: 1868419 FY 2022

Filing Information

Form Type	10-K
Accession Number	`0001410578-23-000570`
Period End Date	20221231
Filing Date	20230331
Fiscal Year	2022
Fiscal Period	FY
XBRL Instance	wavs-20221231x10k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 14 Cash Flow Statement 33 Stockholders Equity 12

Balance Sheet 54 line items

Line Item	Tag	Value	Unit	Period
Cash	`CashAndCashEquivalentsAtCarryingValue`	$3.91K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$809.48K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$268.21K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.08M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.91K	USD	Point-in-time
Common stock subject to possible redemption, authorized	`TemporaryEquitySharesIssued`	11.50M	shares	Point-in-time
Prepaid expenses - non current	`PrepaidExpenseNoncurrent`	$17.87K	USD	Point-in-time
Common stock subject to possible redemption, authorized	`TemporaryEquitySharesIssued`	0.00	shares	Point-in-time
Deferred offering costs	`DeferredCosts`	$323.12K	USD	Point-in-time
Common stock subject to possible redemption, redemption price per share	`TemporaryEquityRedemptionPricePerShare`	$10.10	USD	Point-in-time
Deferred offering costs	`DeferredCosts`	-	USD	Point-in-time
Investments held in Trust Account	`AssetsHeldInTrustNoncurrent`	$117.19M	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
TOTAL ASSETS	`Assets`	$118.29M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$327.03K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	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
Par value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$6.00K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$829.44K	USD	Point-in-time
Par value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accrued offering costs	`OfferingCostPayableCurrent`	$225.00K	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
Number of shares of common stock issued	`CommonStockSharesIssued`	3.25M	shares	Point-in-time
Note payable - related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$80.00K	USD	Point-in-time
Number of shares of common stock issued	`CommonStockSharesIssued`	2.88M	shares	Point-in-time
Income Tax Payable	`AccruedIncomeTaxesCurrent`	$250.74K	USD	Point-in-time
Number of shares of common stock outstanding	`CommonStockSharesOutstanding`	3.25M	shares	Point-in-time
Number of shares of common stock outstanding	`CommonStockSharesOutstanding`	2.88M	shares	Point-in-time
Franchise tax payable	`FranchiseTaxPayableCurrent`	$-163.20K	USD	Point-in-time
Franchise tax payable	`FranchiseTaxPayableCurrent`	$-2.40K	USD	Point-in-time
Total liabilities	`Liabilities`	$313.40K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.24M	USD	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 and 2,875,000 shares issued and outstanding as of December 31, 2022 and 2021, respectively	`CommonStockValue`	$287.00	USD	Point-in-time
Common stock; $0.0001 par value; 50,000,000 shares authorized; 3,251,000 and 2,875,000 shares issued and outstanding as of December 31, 2022 and 2021, respectively	`CommonStockValue`	$324.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.61M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$24.71K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.86M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-11.37K	USD	Point-in-time
Total stockholders' (deficit) equity	`StockholdersEquity`	$13.63K	USD	Point-in-time
Total stockholders' (deficit) equity	`StockholdersEquity`	-	USD	Point-in-time
Total stockholders' (deficit) equity	`StockholdersEquity`	$-256.39K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' (DEFICIT) EQUITY	`LiabilitiesAndStockholdersEquity`	$118.29M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' (DEFICIT) EQUITY	`LiabilitiesAndStockholdersEquity`	$327.03K	USD	Point-in-time

Income Statement 14 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`	$1.85M	USD	Annual
Professional fees and other expenses	`ProfessionalFeesAndOtherExpenses`	$8.97K	USD	3 Qtrs
Franchise tax	`FranchiseTax`	$2.40K	USD	3 Qtrs
Franchise tax	`FranchiseTax`	$163.30K	USD	Annual
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-2.02M	USD	Annual
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-11.37K	USD	3 Qtrs
Interest earned on marketable securities held in Trust Account	`InvestmentIncomeInterest`	$1.57M	USD	Annual
TOTAL OTHER INCOME	`OtherNonoperatingIncomeExpense`	$1.57M	USD	Annual
Loss before benefit from (provision for) income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-11.37K	USD	3 Qtrs
Loss before benefit from (provision for) income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-450.19K	USD	Annual
Income Tax Expense	`CostDirectTaxAndLicenses`	$250.74K	USD	Annual
NET LOSS	`ProfitLoss`	$-11.37K	USD	3 Qtrs
NET LOSS	`ProfitLoss`	$-700.92K	USD	Annual

Cash Flow Statement 33 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-11.37K	USD	3 Qtrs
Net loss	`ProfitLoss`	$-700.92K	USD	Annual
Gain on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$1.57M	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$286.08K	USD	Annual
Accounts payable, accrued expenses and income tax payable	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.07M	USD	Annual
Accounts payable, accrued expenses and income tax payable	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$6.00K	USD	3 Qtrs
Franchise tax payable	`IncreaseDecreaseInFranchiseTaxPayable`	$2.40K	USD	3 Qtrs
Franchise tax payable	`IncreaseDecreaseInFranchiseTaxPayable`	$160.80K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.32M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.97K	USD	3 Qtrs
Cash withdrawn from Trust Account to pay franchise and income taxes	`ProceedsFromCashWithdrawnFromTrustAccountToPayFranchiseAndIncomeTaxes`	$-525.00K	USD	Annual
Cash deposited to Trust Account	`PaymentForDepositToTrustAccount`	$116.15M	USD	Annual
Payment of deferred offering costs	`IncreaseDecreaseInDeferredOfferingCosts`	$98.12K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-98.12K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-115.62M	USD	Annual
Proceeds from initial public offering, net of underwriters' discount	`ProceedsFromIssuanceInitialPublicOffering`	$114.50M	USD	Annual
Proceeds from issuance of common stock to Sponsor	`ProceedsFromIssuanceOfCommonStock`	$-80.00K	USD	Annual
Proceeds from issuance of common stock to Sponsor	`ProceedsFromIssuanceOfCommonStock`	$25.00K	USD	3 Qtrs
Proceeds from private placement	`ProceedsFromIssuanceOfPrivatePlacement`	$3.76M	USD	Annual
Proceeds from notes payable - related party	`ProceedsFromRelatedPartyDebt`	$80.00K	USD	3 Qtrs
Payment of Sponsor loan	`ProceedsFromIssuanceOfCommonStock`	$-80.00K	USD	Annual
Payment of Sponsor loan	`ProceedsFromIssuanceOfCommonStock`	$25.00K	USD	3 Qtrs
Payment of offering costs	`PaymentsOfStockIssuanceCosts`	$431.00K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$105.00K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$117.75M	USD	Annual
NET CHANGE IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$805.57K	USD	Annual
NET CHANGE IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$3.91K	USD	3 Qtrs
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$809.48K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.91K	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$809.48K	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.91K	USD	Point-in-time
Deferred offering costs included in accrued offering costs	`DeferredOfferingCostsIncludedInAccruedOfferingCostsAndExpenses`	$225.00K	USD	3 Qtrs
Accretion of Common Stock subject to possible redemption value	`AccretionOfCommonStockSubjectToPossibleRedemptionValue`	$6.86M	USD	Annual

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Balance at the beginning	`StockholdersEquity`	$13.63K	USD	Point-in-time
Balance at the beginning	`StockholdersEquity`	-	USD	Point-in-time
Balance at the beginning	`StockholdersEquity`	$-256.39K	USD	Point-in-time
Issuance of common stock to Sponsor	`StockIssuedDuringPeriodValueNewIssues`	$25.00K	USD	3 Qtrs
Sale of private placement units including over-allotment	`SaleOfPrivatePlacementUnitsIncludingOverAllotment`	$3.76M	USD	Annual
Proceeds allocated to public warrants, net of offering costs	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$3.53M	USD	Annual
Accretion of Common Stock subject to possible redemption value	`TemporaryEquityAccretionToRedemptionValueAdjustment`	$6.86M	USD	Annual
Net loss	`NetIncomeLoss`	$-11.37K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-700.92K	USD	Annual
Balance at the end	`StockholdersEquity`	$13.63K	USD	Point-in-time
Balance at the end	`StockholdersEquity`	-	USD	Point-in-time
Balance at the end	`StockholdersEquity`	$-256.39K	USD	Point-in-time

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