10-Q Filing

CDT EQUITY INC. CIK: 1896212 Q2 2023

Filing Information

Form Type	10-Q
Accession Number	`0001493152-23-028647`
Period End Date	20230630
Filing Date	20230814
Fiscal Year	2023
Fiscal Period	Q2
XBRL Instance	form10-q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 55 Income Statement 34 Cash Flow Statement 63 Stockholders Equity 25

Balance Sheet 55 line items

Line Item	Tag	Value	Unit	Period
Shares subject to possible redemption	`SharesSubjectToMandatoryRedemptionSettlementTermsNumberOfShares`	13.22M	shares	Point-in-time
Shares subject to possible redemption	`SharesSubjectToMandatoryRedemptionSettlementTermsNumberOfShares`	2.19M	shares	Point-in-time
Temporary equity, redemption price	`TemporaryEquityRedemptionPricePerShare`	$10.34	USD	Point-in-time
Temporary equity, redemption price	`TemporaryEquityRedemptionPricePerShare`	$10.56	USD	Point-in-time
Cash	`Cash`	$277.76K	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
Cash	`Cash`	$345.78K	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
Prepaid expenses	`PrepaidExpenseCurrent`	$76.73K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$300.86K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$646.64K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$354.49K	USD	Point-in-time
Investments held in Trust Account	`AssetsHeldInTrustNoncurrent`	$23.34M	USD	Point-in-time
Investments held in Trust Account	`AssetsHeldInTrustNoncurrent`	$136.87M	USD	Point-in-time
Investments held in Trust Account	`AssetsHeldInTrustNoncurrent`	$23.30M	USD	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
Total Assets	`Assets`	$23.69M	USD	Point-in-time
Total Assets	`Assets`	$137.52M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$24.53K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$43.11K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$111.72K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$374.86K	USD	Point-in-time
Accrued excise tax	`AccruedExciseTax`	$1.14M	USD	Point-in-time
Accrued excise tax	`AccruedExciseTax`	-	USD	Point-in-time
Note payable Sponsor	`NotesPayableCurrent`	-	USD	Point-in-time
Note payable Sponsor	`NotesPayableCurrent`	$750.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.03M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$417.98K	USD	Point-in-time
Deferred commission payable	`DeferredCommissionPayableNonCurrent`	$4.63M	USD	Point-in-time
Deferred commission payable	`DeferredCommissionPayableNonCurrent`	$4.63M	USD	Point-in-time
Total Liabilities	`Liabilities`	$5.05M	USD	Point-in-time
Total Liabilities	`Liabilities`	$6.66M	USD	Point-in-time
Commitments and Contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock subject to possible redemption at redemption value (2,187,728 shares at $10.56 per share and 13,225,000 shares at $10.34 per share, as of June 30, 2023 and December 31, 2022, respectively)	`TemporaryEquityCarryingAmountAttributableToParent`	$136.77M	USD	Point-in-time
Common stock subject to possible redemption at redemption value (2,187,728 shares at $10.56 per share and 13,225,000 shares at $10.34 per share, as of June 30, 2023 and December 31, 2022, respectively)	`TemporaryEquityCarryingAmountAttributableToParent`	$23.11M	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
Additional paid-in capital	`AdditionalPaidInCapital`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	-	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-4.30M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-6.07M	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-3.08M	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-6.07M	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-5.48M	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-4.30M	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-3.30M	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$20.62K	USD	Point-in-time
Total Liabilities and Stockholders Deficit	`LiabilitiesAndStockholdersEquity`	$137.52M	USD	Point-in-time
Total Liabilities and Stockholders Deficit	`LiabilitiesAndStockholdersEquity`	$23.69M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
General and administrative expenses	`GeneralAndAdministrativeExpense`	$376.27K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$853.67K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$249.42K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$493.14K	USD	2 Qtrs
Administration fee related party	`AdministrationFeeRelatedParty`	$30.00K	USD	1 Quarter
Administration fee related party	`AdministrationFeeRelatedParty`	$30.00K	USD	1 Quarter
Administration fee related party	`AdministrationFeeRelatedParty`	$50.00K	USD	2 Qtrs
Administration fee related party	`AdministrationFeeRelatedParty`	$60.00K	USD	2 Qtrs
Total expenses	`OperatingIncomeLoss`	$-406.27K	USD	1 Quarter
Total expenses	`OperatingIncomeLoss`	$-543.14K	USD	2 Qtrs
Total expenses	`OperatingIncomeLoss`	$-913.67K	USD	2 Qtrs
Total expenses	`OperatingIncomeLoss`	$-279.42K	USD	1 Quarter
Interest income Investments held in Trust Account	`InvestmentIncomeInterest`	$201.77K	USD	2 Qtrs
Interest income Investments held in Trust Account	`InvestmentIncomeInterest`	$939.52K	USD	2 Qtrs
Interest income Investments held in Trust Account	`InvestmentIncomeInterest`	$275.29K	USD	1 Quarter
Interest income Investments held in Trust Account	`InvestmentIncomeInterest`	$191.59K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$201.77K	USD	2 Qtrs
Total other income	`NonoperatingIncomeExpense`	$191.59K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$939.52K	USD	2 Qtrs
Total other income	`NonoperatingIncomeExpense`	$275.29K	USD	1 Quarter
Net (loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-130.98K	USD	1 Quarter
Net (loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-87.83K	USD	1 Quarter
Net (loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$25.85K	USD	2 Qtrs
Net (loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-341.37K	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$212.74K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$29.70K	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$29.70K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$249.29K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-117.54K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$120.27K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-223.44K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-343.71K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-253.54K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-371.07K	USD	2 Qtrs

Cash Flow Statement 63 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$120.27K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-223.44K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-343.71K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-253.54K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-117.54K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-371.07K	USD	2 Qtrs
Interest earned on investments held in Trust Account	`InvestmentIncomeInterest`	$201.77K	USD	2 Qtrs
Interest earned on investments held in Trust Account	`InvestmentIncomeInterest`	$939.52K	USD	2 Qtrs
Interest earned on investments held in Trust Account	`InvestmentIncomeInterest`	$275.29K	USD	1 Quarter
Interest earned on investments held in Trust Account	`InvestmentIncomeInterest`	$191.59K	USD	1 Quarter
Deferred offering costs	`IncreaseDecreaseInDeferredRevenue`	-	USD	2 Qtrs
Deferred offering costs	`IncreaseDecreaseInDeferredRevenue`	$108.96K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$478.72K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-224.13K	USD	2 Qtrs
Accrued formation and offering costs	`IncreaseDecreaseInAccruedFormationAndOfferingCosts`	$15.45K	USD	2 Qtrs
Accrued formation and offering costs	`IncreaseDecreaseInAccruedFormationAndOfferingCosts`	-	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-18.59K	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$138.65K	USD	2 Qtrs
Accrued income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	-	USD	2 Qtrs
Accrued income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-263.14K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-819.40K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.22M	USD	2 Qtrs
Extension deposit into the Trust Account	`PaymentsToInvestInDecommissioningFund`	$389.94K	USD	2 Qtrs
Extension deposit into the Trust Account	`PaymentsToInvestInDecommissioningFund`	-	USD	2 Qtrs
Withdrawals from Trust Account for redemptions	`ProceedsFromDecommissioningFund`	$114.07M	USD	2 Qtrs
Withdrawals from Trust Account for redemptions	`ProceedsFromDecommissioningFund`	-	USD	2 Qtrs
Withdrawals from the Trust Account for taxes	`ProceedsFromTrustAccountForTaxes`	-	USD	2 Qtrs
Withdrawals from the Trust Account for taxes	`ProceedsFromTrustAccountForTaxes`	$792.48K	USD	2 Qtrs
Cash deposited into Trust Account	`PaymentsToAcquireInvestments`	$134.90M	USD	2 Qtrs
Cash deposited into Trust Account	`PaymentsToAcquireInvestments`	-	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$114.47M	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-134.90M	USD	2 Qtrs
Proceeds from note payable - Sponsor	`ProceedsFromRelatedPartyDebt`	-	USD	2 Qtrs
Proceeds from note payable - Sponsor	`ProceedsFromRelatedPartyDebt`	$750.00K	USD	2 Qtrs
Redemptions of Class A common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	2 Qtrs
Redemptions of Class A common stock	`PaymentsForRepurchaseOfCommonStock`	$114.07M	USD	2 Qtrs
Sale of units in public offering	`ProceedsFromIssuanceInitialPublicOffering`	-	USD	2 Qtrs
Sale of units in public offering	`ProceedsFromIssuanceInitialPublicOffering`	$132.25M	USD	2 Qtrs
Sale of units in public offering	`ProceedsFromIssuanceInitialPublicOffering`	$132.25M	USD	1 Quarter
Sale of private placement units	`ProceedsFromIssuanceOfPrivatePlacement`	-	USD	2 Qtrs
Sale of private placement units	`ProceedsFromIssuanceOfPrivatePlacement`	$7.54M	USD	2 Qtrs
Payment of offering costs	`PaymentsOfStockIssuanceCosts`	$3.11M	USD	2 Qtrs
Payment of offering costs	`PaymentsOfStockIssuanceCosts`	-	USD	2 Qtrs
Repayment of note payable - Sponsor	`RepaymentsOfRelatedPartyDebt`	-	USD	2 Qtrs
Repayment of note payable - Sponsor	`RepaymentsOfRelatedPartyDebt`	$177.06K	USD	2 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$136.50M	USD	2 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-113.32M	USD	2 Qtrs
Net change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$789.13K	USD	2 Qtrs
Net change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-68.02K	USD	2 Qtrs
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$837.69K	USD	Point-in-time
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$345.78K	USD	Point-in-time
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$277.76K	USD	Point-in-time
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$48.55K	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$837.69K	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$345.78K	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$277.76K	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$48.55K	USD	Point-in-time
Deferred commission payable	`DeferredUnderwritingCommissionPayable`	-	USD	2 Qtrs
Deferred commission payable	`DeferredUnderwritingCommissionPayable`	$4.63M	USD	2 Qtrs
Accrued excise tax on January 24, 2023 redemptions	`AccruedExciseTaxOnRedemptions`	-	USD	2 Qtrs
Accrued excise tax on January 24, 2023 redemptions	`AccruedExciseTaxOnRedemptions`	$1.14M	USD	2 Qtrs
Remeasurement of Class A common stock subject to possible redemption	`RemeasurementOfClassACommonStockSubjectToPossibleRedemption`	$405.99K	USD	2 Qtrs
Remeasurement of Class A common stock subject to possible redemption	`RemeasurementOfClassACommonStockSubjectToPossibleRedemption`	$101.77K	USD	2 Qtrs

Stockholders Equity 25 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$-3.08M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-6.07M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-5.48M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-4.30M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-3.30M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$20.62K	USD	Point-in-time
Remeasurement of Class A common stock subject to possible redemption	`RemeasurementOfClassCommonStockSubjectToPossibleRedemption`	$-101.77K	USD	1 Quarter
Remeasurement of Class A common stock subject to possible redemption	`RemeasurementOfClassCommonStockSubjectToPossibleRedemption`	$-32.28M	USD	1 Quarter
Remeasurement of Class A common stock subject to possible redemption	`RemeasurementOfClassCommonStockSubjectToPossibleRedemption`	$-247.09K	USD	1 Quarter
Remeasurement of Class A common stock subject to possible redemption	`RemeasurementOfClassCommonStockSubjectToPossibleRedemption`	$-158.90K	USD	1 Quarter
Accrued excise tax on January 24, 2023 redemptions	`AccruedExciseTaxRedemptions`	$-1.14M	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss`	$-371.07K	USD	2 Qtrs
Net Income (loss)	`NetIncomeLoss`	$-117.54K	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss`	$-253.54K	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss`	$-223.44K	USD	2 Qtrs
Net Income (loss)	`NetIncomeLoss`	$120.27K	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss`	$-343.71K	USD	1 Quarter
Proceeds allocated to Public Warrants, net of offering costs	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$21.92M	USD	1 Quarter
Sale of private placement units, net of offering costs	`StockIssuedDuringPeriodValueNewIssues`	$7.52M	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$-3.30M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-3.08M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-6.07M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-5.48M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-4.30M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$20.62K	USD	Point-in-time

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