WALDMEDIUM SIGNALFINANCIAL10-Q

WALD's quarterly filing shows a dramatic shift from operating losses to positive net income while current liabilities increased nearly 400%, indicating significant changes in the SPAC's financial structure during its target acquisition phase.

The substantial increase in current liabilities alongside declining cash suggests WALD is incurring significant costs related to its business combination activities, which is typical but noteworthy for a SPAC. The positive net income swing likely reflects fair value adjustments on warrant liabilities rather than operational improvements, as operating losses actually increased significantly.

Comparing 2022-05-16 vs 2021-11-18View on EDGAR →
FINANCIAL ANALYSIS

WALD experienced a complex financial quarter with current liabilities surging 381% to $1.8M while cash declined 28% to $1.1M, suggesting increased business combination-related expenses and working capital needs. Despite operating losses deepening to -$4.0M from -$964K, net income swung dramatically positive to $5.0M, likely driven by fair value adjustments on warrant and forward purchase agreement liabilities rather than operational performance. The improved operating cash flow burn (from -$1.2M to -$415K) provides some comfort, but the overall picture reflects a SPAC actively pursuing its business combination with associated costs and mark-to-market volatility.

FINANCIAL STATEMENT CHANGES
Current Liabilities
Balance Sheet
+381.1%
$368K→$1.8M

Current liabilities surged 381.1% — significant near-term obligations; verify ability to meet short-term debt.

Operating Income
P&L
-315.2%
-$964K→-$4.0M

Operating income deteriorated sharply — investigate whether driven by one-time charges or structural cost issues.

Net Income
P&L
+283.6%
-$2.7M→$5.0M

Net income grew 283.6% — bottom-line growth signals improving overall business health.

Operating Cash Flow
Cash Flow
+64.5%
-$1.2M→-$415K

Operating cash flow surged 64.5% — exceptional cash generation, highest quality earnings signal.

Cash & Equivalents
Balance Sheet
-27.6%
$1.5M→$1.1M

Cash decreased 27.6% — monitor burn rate and upcoming capital needs.

Current Assets
Balance Sheet
-26.7%
$1.7M→$1.3M

Current assets declined 26.7% — monitor working capital adequacy and short-term liquidity.

LANGUAGE CHANGES
NEW — 2022-05-16
PRIOR — 2021-11-18
ADDED
7262(b)) by the registered public accounting firm that prepared or issued its audit report.
Financial Statements 1 Condensed Balance Sheets as of March 31, 2022 (Unaudited) and December 31, 2021 1 Unaudited Condensed Statements of Operations for the Three Months Ended March 31, 2022 and March 31, 2021 2 Unaudited Condensed Statements of Changes in Shareholders Deficit for the Three Months Ended March 31, 2022 and March 31, 2021 3 Unaudited Condensed Statements of Cash Flows for the Three Months Ended March 31, 2022 and March 31, 2021 4 Notes to Condensed Financial Statements 5 Item 2.
All activity since January 12, 2021 relates to the Company s formation and the initial public offering (the Initial Public Offering ) and identifying a target or targets for a Business Combination, as described below.
The Company will generate non-operating income in the form of interest income on cash and cash equivalents from the proceeds derived from the Initial Public Offering and change in fair value of its warrant and forward purchase agreement liabilities.
Of the total transaction costs, $ 719,201 was reclassified as non-operating expense in the statements of operations with the rest of the offering costs charged to shareholders deficit.
+7 more — sign up free →
REMOVED
Financial Statements Condensed Balance Sheets as of September 30, 2021 (unaudited) and December 31, 2020 (audited) 1 Condensed Statements of Operations for the three and nine months ended September 30, 2021 (unaudited) 2 Condensed Statements of Changes in Shareholders Deficit for the three and nine months ended September 30, 2021 (unaudited) 3 Condensed Statement of Cash Flows for the nine months ended September 30, 2021 (unaudited) 4 Notes to Unaudited Condensed Financial Statements 5 Item 2.
All activity since January 12, 2021 relates to the Company s formation and the initial public offering (the Initial Public Offering ), as described below.
The Company will generate non-operating income in the form of interest income on cash and cash equivalents from the proceeds derived from the Initial Public Offering.
Of the total transaction costs, $ 719,201 was reclassified as non-operating expense in the condensed statement of operations with the rest of the offering costs charged to shareholders equity.
Liquidity As of September 30, 2021, the Company had cash in an operating bank account, outside of the Trust Account, of $335,058 available for working capital needs.
+7 more — sign up free →
MORE FINANCIAL SIGNALS
PNRGHIGHPNRG achieved exceptional profitability improvement with net income surging 2,21...
2026-04-16
BNAIHIGHBNAI underwent a dramatic reverse stock split that reduced share count by 86% wh...
2026-04-16
LAKEHIGHLAKE's financial performance deteriorated significantly with operating losses wo...
2026-04-16
NXXTHIGHNextNRG experienced massive financial deterioration with operating losses explod...
2026-04-16
ANALYZE ANY FILING FREE

See what changed in your portfolio's filings

500+ US-listed companies analyzed. Language delta, financial analysis, instant signal scoring.

Try Tracenotes free →