Tue, Apr 1, 8:33 PM (28 days ago)
**Summary of Mountain Crest Acquisition Corp. V (Ticker: MCAGU)** **Financial Performance:** - **Revenue:** Not applicable, as the company is a SPAC and has not generated revenue. - **Net Income:** The company reported a net loss of $374,454 for the year ended December 31, 2024, compared to a net loss of $2,251,116 in 2023. - **Operating Expenses:** Operating costs were $618,486 in 2024, significantly lower than $2,654,975 in 2023. - **Earnings per Share (EPS):** Basic and diluted loss per share for redeemable common stock was $0.48 in 2024, compared to $(0.20) in 2023. For non-redeemable common stock, the loss per share was $(0.22) in 2024, compared to $(0.90) in 2023. **Strategic Overview:** - **Business Model:** Mountain Crest Acquisition Corp. V is a blank check company formed to effect a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. - **Target Industries:** The company focuses on private companies in North America and Asia Pacific regions (excluding China) that have positive operating cash flow or compelling economics and clear paths to positive operating cash flow, significant assets, and successful management teams seeking access to the U.S. public capital markets. **Future Outlook:** - **Business Combination:** The company has until November 16, 2025, to consummate its initial business combination, provided that it deposits into the trust account an amount equal to $0.10 per outstanding public share for each three-month extension commencing on November 17, 2023. - **Liquidity:** As of December 31, 2024, the company had $116,658 of cash held outside the trust account for use as working capital. The company may need to raise additional capital through loans or investments from its sponsor, stockholders, officers, directors, or third parties. **Risk Factors:** - **Business Combination Risk:** There is no assurance that the company will be able to successfully effect a business combination. - **Liquidity Risk:** The company may not be able to obtain additional financing, which could require it to take additional measures to conserve liquidity, such as curtailing operations or suspending the pursuit of a potential transaction. - **Market Position Changes:** The company's securities were suspended from trading on Nasdaq at the opening of business on November 21, 2024, and commenced trading on the over-the-counter market on November 21, 2024. **Financial Condition:** - **Cash and Cash Equivalents:** The company had no cash equivalents as of December 31, 2024. - **Investments Held in Trust Account:** As of December 31, 2024, the company had $1,157,312 in investments held in the trust account, including $90,149 of interest income. - **Liabilities:** The company had $1,520,579 in current liabilities and $2,070,000 in long-term liabilities as of December 31, 2024. **Market Position Changes:** - **Nasdaq Listing:** The company's securities were suspended from trading on Nasdaq at the opening of business on November 21, 2024, and commenced trading on the over-the-counter market on November 21, 2024.