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YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. for the year ended December 31, 2022, filed by the Company with the SEC on March 10, 2023. Going Concern Considerations, Liquidity and Capital Resources As of March 31, 2023, the Company had a wo...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. to Continue as a Going Concern,” management has determined that the extended mandatory liquidation, as approved on February 2, 2023, and subsequent dissolution raise substantial doubt about the Comp...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. financial statements in conformity with GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. current information becomes available and accordingly the actual results could differ significantly from those estimates. Table of Contents ARES ACQUISITION CORPORATION NOTES TO UNAUDITED CONDENS...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. or in money market funds meeting certain conditions under Rule 2a-7 promulgated under the Investment Company Act that invest only in direct U.S. government treasury obligation. Ares Acquisition Corp...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. , at times, may exceed the Federal Deposit Insurance Corporation limit of $250,000. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. as quoted prices for identical instruments in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. that is significant to the fair value measurement. At March 31, 2023 and December 31, 2022, the carrying values of cash, accrued expenses, due to related party and advances from related party appro...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. in active markets. Table of Contents ARES ACQUISITION CORPORATION NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS Class A Ordinary Shares Subject to Possible Redemption Ares Acquisition Corp ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ordinary shares are classified as shareholders’ equity. Ares Acquisition Corp’s Class A ordinary shares feature certain redemption rights that are considered to be outside of the Company’s control a...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. also the redemption date for the security. Immediately upon the closing of the Initial Public Offering, the Company recognized the accretion from initial book value to redemption amount value. The c...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 31, 2022 1,013,282,491 Less: Redemption of Class A ordinary shares (538,985,164) Plus: Sponsor deposits to Trust Account 2,314,286 Accretion of carrying value to redemption value 8,189,193 ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. is the Company’s only major tax jurisdiction. Ares Acquisition Corp recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized t...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share”. Ares Acquisition Corp has two classes of shares, which are referred to as Class A ordinary shares and Class B ordinary shares...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. not consider the effect of the Public Warrants issued in connection with the Initial Public Offering and the sale of the Private Placement Warrants because the exercise of the warrants is contingent...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ) 0.14 Class B ordinary shares Numerator: Net income (loss) attributable to Class B ordinary shares (2,624,116) 3,412,631 Denominator: Weighted average Class B ordinary shares Basic and dilut...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. pursuant to ASC 480 and ASC 815-15. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is re-assessed at the end of each...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. at fair value using a modified Black-Scholes model and subsequently measured based on the listed market price of such warrants, whereas the fair value of the Private Placement Warrants was initially...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. (the “Over Allotment Units”), at $10.00 per Unit, generating gross proceeds of $1.0 billion, and incurring offering costs of approximately $55.9 million, of which $35.0 million was for deferred unde...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Table of Contents ARES ACQUISITION CORPORATION NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS the event the underwriters’ over-allotment was not exercised. The Sponsor had agreed to forfeit u...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. shares. On February 4, 2021, the underwriters partially exercised their over-allotment option; thus, 12,500 shares of Class B ordinary shares were forfeited. The Class B ordinary shares will automat...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share subdivisions, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. maximum of $1.2 million per month (each deposit, a “Contribution”) following the approval and implementation of the Extension by the Company’s shareholders on February 2, 2023. Such Contributions wi...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ii) August 4, 2023 (or any earlier date of termination, dissolution or winding up of the Company in accordance with its memorandum and articles of association or as otherwise determined in the sole d...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. issory Note. Private Placement Warrants Simultaneously with the closing of the Initial Public Offering, the Company consummated the Private Placement of 15,333,333 Private Placement Warrants, inclu...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. sale of the Private Placement Warrants will be used to fund the redemption of the Public Shares (subject to the requirements of applicable law), and the Private Placement Warrants will expire worthl...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. only out of funds held outside the Trust Account. In the event that a Business Combination does not close, the Company may use a portion of proceeds held outside the Trust Account to repay the Worki...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. warrants would be identical to the Private Placement Warrants. As of March 31, 2023 and December 31, 2022, the Company had $2,100,000 and $1,500,000 outstanding borrowings under the Working Capital L...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. , 2023 and 2022. These expenses were presented within general and administrative expenses in the accompanying unaudited condensed statements of operations. As of March 31, 2023 and December 31, 2022,...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. sheets. 5. COMMITMENTS AND CONTINGENCIES Registration Rights The holders of the Class B ordinary shares, Private Placement Warrants (and the Class A ordinary shares underlying such Private Placem...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. subject to certain limitations. Ares Acquisition Corp will bear the expenses incurred in connection with the filing of any such registration statements. Underwriting Agreement Ares Acquisition Cor...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 0 million in the aggregate, paid upon the closing of the Initial Public Offering. In addition, $0.35 per Unit, or $35.0 million in the aggregate will be payable to the underwriters for deferred under...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. of March 31, 2023, the amount of these contingent fees with the service providers was approximately $13.2 million. Ares Acquisition Corp has entered into a fee arrangement with capital markets advi...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. placement agents pursuant to which certain placement fees ranging from 2.25% to 4.5% of funds raised in a private placement transaction (net of proceeds invested by affiliates of the Company or the ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. — Ares Acquisition Corp is authorized to issue 300,000,000 Class A ordinary shares with a par value of $0.0001 per share. Holders of Class A ordinary shares are entitled to one vote for each share. A...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the Company’s Class B ordinary shares are entitled to one vote for each ordinary share. On February 4, 2021, the Company consummated the sale of Over-Allotment Units pursuant to the underwriters’ pa...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the case that additional Class A ordinary shares or equity-linked securities are issued or deemed issued in excess of the amounts offered in the Initial Public Offering and related to the closing of...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. with a Business Combination (excluding any shares or equity-linked securities issued, or to be issued, to any seller in a Business Combination and any private placement-equivalent warrants issued to...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ordinary shares issuable upon such warrant exercise has been registered, qualified or deemed to be exempt under the securities laws of the state of residence of the registered holder of the warrants...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. and to maintain the effectiveness of such registration statement, and a current prospectus relating thereto, until the expiration of the warrants in accordance with the provisions of the warrant agr...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. , but will be required to use its best efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is not available. Once the warrants become exercisable, the...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. underlying the Units sold in the Initial Public Offering, except that the Private Placement Warrants and the Class A ordinary shares issuable upon the exercise of the Private Placement Warrants will...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the Public Warrants for redemption, management will have the option to require all holders that wish to exercise the Public Warrants to do so on a “cashless basis,” as described in the warrant agree...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. such funds with respect to their warrants, nor will they receive any distribution from the Company’s assets held outside of the Trust Account with the respect to such warrants. Accordingly, the warr...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. (market data obtained from independent sources) and to minimize the use of unobservable inputs (internal assumptions about how market participants would price assets and liabilities). The following ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Level 3: Unobservable inputs based on the Company’s assessment of the assumptions that market participants would use in pricing the asset or liability. At March 31, 2023 and December 31, 2022, asset...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 2022, the Company did not withdraw any interest income from the Trust Account. The following tables present information about the Company’s financial assets and financial liabilities that are measur...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Warrants 13,493,333 Description Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Other Unobservable Inputs (Level 3) As of December 31, 2022:...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. , with changes in fair value presented within change in fair value of warrant liabilities in the Company’s unaudited condensed statements of operations. The Public Warrants issued in connection with...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. an active market, the Public Warrants are classified as Level 1. The change in the fair value of the derivative warrant liabilities, measured using Level 3 inputs, for the three months ended March ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. estimated fair value of the Private Placement Warrants was transferred from a Level 3 measurement to a Level 2 measurement during the year ended December 31, 2022, when the Company began the use of ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. udited condensed financial statements. Subsequent to March 31, 2023, the Sponsor deposited $2.4 million into the Trust Account pursuant to the Promissory Note issued by the Company to the Sponsor. A...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Certain information contained in the discussion and analysis set forth below includes forward-looking statements that involve risks and uncertainties. Cautionary Note Regarding Forward-Looking Stat...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. -looking statements. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “could”, “would”, “expect”, “plan”, “anticipate”, “believe”, “estimate”, “conti...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which w...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. . Recent Developments Business Combination Agreement with X-Energy Reactor Company, LLC On December 5, 2022, we entered into the Business Combination Agreement with X-energy (see Note 1 for “Propo...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Report on Form 10-K for the year ended December 31, 2022, filed by the Company with the SEC on February 28, 2023, as amended by the Annual Report on Form 10-K/A for the year ended December 31, 20...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. . Extension Ares Acquisition Corp’s Initial Public Offering prospectus and amended and restated memorandum and articles of association provided that the Company had until February 4, 2023 to comple...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. elected to redeem an aggregate of 53,002,919 Class A ordinary shares, of which the Company paid cash from the Trust Account in the aggregate amount of approximately $539.0 million (approximately $10...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 31, 2023, we have borrowed $2,314,286 under the Promissory Note. Results of Operations Our entire activity since inception through March 31, 2023 related to our formation, the preparation for the ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. connection with our Initial Public Offering and Private Placement as liabilities at their fair value and adjust the warrant instruments to fair value at each reporting period. These liabilities are ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 17,063,156, which consisted of a change in the fair value of warrant liabilities of $17,146,154 and investment income earned on investments held in Trust Account of $330,519, offset by general and ad...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. on February 4, 2021, (iii) proceeds from the consummation of the Private Placement not held in the Trust Account, and (iv) the Working Capital Loan, pursuant to which the Company may borrow up to $2...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the Company’s ability to continue as a going concern through August 4, 2023, the extended mandatory liquidation date of the Company, if it is unsuccessful in consummating an initial business combina...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. related to or resulting from these events could have a negative effect on our financial position, results of operations and/or ability to complete an initial business combination, we cannot at this ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. distribution of the Trust Account to the public shareholders. In addition, the Company has entered into certain arrangements with third-party advisors, including the following: The underwriters ar...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. providers was approximately $13.2 million. Ares Acquisition Corp has entered into a fee arrangement with capital markets advisors pursuant to which the Company will pay to each capital markets advi...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the Company consummates the proposed Business Combination with X-energy. Critical Accounting Estimates Management’s discussion and analysis of our financial condition and results of operations is ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. Ares Acquisition Corp has identified the following as its critical ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. as shareholders’ equity. Our Class A ordinary shares features certain redemption rights that are considered to be outside of our control and subject to the occurrence of uncertain future events. Acc...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. for the security. Net Income (Loss) Per Ordinary Share Ares Acquisition Corp complies with accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share”. We have two classes o...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. with the Initial Public Offering and the sale of the Private Placement Warrants, because the exercise of the warrants is contingent upon the occurrence of future events. Warrant Liabilities We do ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. accordance with ASC 815-40. Accordingly, we recognize the warrant instruments as liabilities at fair value and adjust the instruments to fair value at each reporting period. The liabilities are subj...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. that any other recently issued, but not yet effective, accounting pronouncement if currently adopted would have a material effect on the accompanying financial statements. Item 3. Quantitative and ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. rate risk. 21 Table of Contents Item 4. Controls and Procedures Evaluation of Disclosure Controls and Procedures Disclosure controls and procedures are designed to ensure that information requi...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. , as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act. Based on this evaluation, our Chief Executive Officer and Chief Financial Officer have concluded that our disclosure...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the conduct of our business, some of which may be material. We are not currently subject to any material legal proceedings, nor, to our knowledge, is any material legal proceeding threatened against...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 10, 2023, except for the below additional risk. Additional risk factors not presently known to us or that we currently deem immaterial may also impair our business or results of operations. Adverse ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. problems. For example, on March 10, 2023, Silicon Valley Bank (“SVB”) was closed by the California Department of Financial Protection and Innovation, which appointed the Federal Deposit Insurance Co...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. FDIC may be unable to access undrawn amounts thereunder. Although we are not a borrower or party to any such instruments with SVB, Signature Bank or any other financial institution currently in rece...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Act. 22 Table of Contents Item 2. Unregistered Sales of Equity Securities and Use of Proceeds from Registered Securities Unregistered Sales We have not sold any equity securities during the qua...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. our Initial Public Offering and certain of the proceeds from the private placement of the Private Placement Warrants (or $10.00 per Unit sold in the Initial Public Offering) was placed in the Trust ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Item 6. Exhibits Exhibit No. Description 31.1* Certification of Chief Executive Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. . Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. 32.2** Certification of Chief Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Se...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Cover Page Interactive Data File - the cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. Filed herew...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 2023 By: /s/ David B. Kaplan Name: David B. Kaplan Title: Chief Executive Officer and Co-Chairman Dated: May 8, 2023 By: /s/ Jarrod Phillips Name: Jarrod Phillips Title: Chief Financial ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. .R.S. Employer Identification No.) 1609 W Valley Blvd Unit 338A, Alhambra, CA (Address of principal executive offices) 91803 (Zip Code) Registrant’s telephone number, including area code: (888) 98...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ☐ No ☒ Note – Checking the box above will not relieve any registrant required to file reports pursuant to Section 13 or 15(d) of the Exchange Act from their obligations under those Sections. Indic...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☐ No ☒ Indicate by check mark if disclosure of...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. smaller reporting company, or an emerging growth company. See definition of “large accelerated filer,” accelerated filer” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that pr...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. June 30, 2022 TABLE OF CONTENTS Page PART I Item 1. Business Item 1A. Risk Factors Item 1B. Unresolved Staff Comments Item 2. Properties Item 3. Legal Proceedings Item 4. Mine Safety ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. in and Disagreements with Accountants on Accounting and Financial Disclosure 13 Item 9A. Controls and Procedures 13 Item 9B. Other Information 13 Item 9C. Disclosure Regarding Foreign Juris...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. In this annual report the words "we," "us," "our," and the "Company" refer to America Great Health and subsidiaries. FORWARD LOOKING STATEMENTS When used in this report, the words “may,” “will,” “e...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. and are subject to risks and uncertainties and that actual results may differ materially from those included within the forward-looking statements as a result of various factors. Statements made in...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. consummation of acquisitions and future private and public issuances of our equity and debt securities. The forward-looking statements included herein are based on current expectations that involve ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. information as our representation or the representation of any other person that we will achieve our objectives and plans. We disclaim any obligation subsequently to revise any forward-looking state...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Mike Q. Wang. In connection with the change of control, the Company sold to its former majority shareholder a subsidiary for $100 and another subsidiary in exchange for the cancellation of all payab...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. the laws of the State of California. On June 24, 2019, the Company registered a wholly owned subsidiary in China, Meizhong Health Industry Development Co., Ltd. The subsidiary is mainly engaged in ...