Altitude Acquisition Corp.

CIK:0001822366|SEC Filings

Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
General and Administrative Expense	$ 677,636	$ 439,362	$ 4,095,931	$ 2,885,762
Loss from operations	(677,636)	(439,362)	(4,065,931)	(2,885,762)
Other income (expense):
Interest Income	11	1	49	2
Interest income earned on Trust	130,225	222,471	407,471	534,340
Unrealized (loss) gain on change in fair value of warrants	(99,749)	1,389,550	(27,638)	11,915,139
Total other income, net	30,487	1,612,022	379,882	12,449,481
(Loss) Income before income tax provision	(647,149)	1,172,660	(3,716,049)	9,563,719
Income tax provision	(17,479)	(14,023)	(55,780)	(22,803)
Net (loss) income	(664,628)	1,158,637	(3,771,829)	9,540,916
Common Class A [Member]
Other income (expense):
Net (loss) income	$ (664,628)	$ 466,503	$ (2,658,427)	$ 6,942,655
Weighted Average Number of Shares Outstanding, Basic	8,834,645	5,055,051	6,297,129	20,040,295
Weighted Average Number of Shares Outstanding, Diluted	8,834,645	5,055,051	6,297,129	20,040,295
Earnings Per Share, Basic	$ (0.08)	$ 0.09	$ (0.42)	$ 0.35
Earnings Per Share, Diluted	$ (0.08)	$ 0.09	$ (0.42)	$ 0.35
Common Class B [Member]
Other income (expense):
Net (loss) income	$ 0	$ 692,134	$ (1,113,402)	$ 2,598,261
Weighted Average Number of Shares Outstanding, Basic	0	7,500,000	2,637,363	7,500,000
Weighted Average Number of Shares Outstanding, Diluted	0	7,500,000	2,637,363	7,500,000
Earnings Per Share, Basic	$ 0	$ 0.09	$ (0.42)	$ 0.35
Earnings Per Share, Diluted	$ 0	$ 0.09	$ (0.42)	$ 0.35

Condensed Consolidated Statements of Cash Flows - USD ($)	3 Months Ended				9 Months Ended		12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Cash Flows from Operating Activities:
Net (loss) income	$ (664,628)	$ (1,448,735)	$ 1,158,637	$ 8,617,191	$ (3,771,829)	$ 9,540,916
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Interest income earned on Trust	(130,225)		(222,471)		(407,471)	(534,340)
Unrealized gain (loss) on change in fair value of warrants	99,749		(1,389,550)		27,638	(11,915,139)
Changes in current assets and current liabilities:
Prepaid expenses					(16,685)	160,223
Due to related party, net					0	90,000
Deferred legal fee					2,680,315	1,550,515
Income taxes payable					55,780	22,803
Advances from Sponsor					208,475	788,423
Accounts payable and accrued expenses					883,505	196,683
Net cash used in operating activities					(340,272)	(99,916)
Cash Flows from Investing Activities:
Reimbursement of franchise tax payment					205,400	0
Cash withdrawn from Trust Account in connection with redemption					3,436,338	0
Net cash provided by investing activities					3,641,738	0
Cash Flows from Financing Activities:
Proceeds from issuance of promissory note to related party					135,000	0
Funds withdrawn from Trust Account					0	81,200
Redemption of Class A common stock					(3,436,338)	0
Net cash (used in) provided by financing activities					(3,301,338)	81,200
Net Change in Cash					128	(18,716)
Cash-Beginning		$ 760		$ 43,054	760	43,054	$ 43,054
Cash-Ending	$ 888		$ 24,338		888	24,338	$ 760
Supplemental Disclosure of Non-cash Financing Activities:
Waiver of amounts due to related party under the Administrative Support Agreement					242,089	0
Payment from Trust Account in connection with redemption of shares					0	249,614,847
Cash paid for franchise taxes					$ 206,750	$ 231,851

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Current Assets
Cash	$ 888	$ 760
Prepaid expenses	17,500	815
Total current assets	18,388	1,575
Cash and investments held in Trust Account	13,741,530	16,975,796
Total Assets	13,759,918	16,977,371
Current Liabilities
Accounts payable	1,394,657	511,152
Income taxes payable	93,960	38,180
Advances from Sponsor	1,011,119	802,644
Promissory Note – Related Party	$ 135,000	$ 0
Other Liability, Current, Related Party, Type [Extensible Enumeration]	Related Party [Member]	Related Party [Member]
Due to related party, net	$ 0	$ 242,089
Total current liabilities	2,634,736	1,594,065
Warrant liability	1,411,087	1,383,449
Deferred legal fee	8,032,972	5,352,657
Deferred underwriting fee	10,500,000	10,500,000
Total liabilities	22,578,795	18,830,171
Commitments and Contingencies
Class A common stock subject to possible redemption, $0.0001 par value, 1,334,645 and 1,672,102 shares subject to possible redemption at redemption value of $10.00 per share at September 30, 2023 and December 31, 2022, respectively	13,346,532	16,721,020
Stockholders' deficit:
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; no shares issued or outstanding at September 30, 2023 and December 31, 2022
Additional paid-in capital	432,106	251,866
Accumulated deficit	(22,598,265)	(18,826,436)
Total stockholders' deficit	(22,165,409)	(18,573,820)
Total liabilities, Class A common stock subject to possible redemption and stockholders' deficit	13,759,918	16,977,371
Common Class A [Member]
Current Liabilities
Class A common stock subject to possible redemption, $0.0001 par value, 1,334,645 and 1,672,102 shares subject to possible redemption at redemption value of $10.00 per share at September 30, 2023 and December 31, 2022, respectively	13,346,532	16,721,020
Stockholders' deficit:
Common stock value	750
Common Class B [Member]
Stockholders' deficit:
Common stock value	$ 0	$ 750