Attached files
| file | filename |
|---|---|
| 8-K - 8-K - Fisker Inc./DE | d134315d8k.htm |
Exhibit 99.1
Fisker Inc. and Subsidiaries
Unaudited Condensed Consolidated Statements of Operations
(amounts in thousands, except share and per share data)
| Three Months Ended Dec. 31, | Years Ended December 31, | |||||||||||||||
| 2020 | 2019 | 2020 | 2019 | |||||||||||||
| Operating costs and expenses: |
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| General and administrative |
$ | 14,216 | $ | 743 | $ | 22,272 | $ | 3,626 | ||||||||
| Research and development |
17,090 | 2,019 | 21,052 | 6,962 | ||||||||||||
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| Total operating costs and expenses |
31,306 | 2,763 | 43,324 | 10,588 | ||||||||||||
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| Loss from operations |
(31,306 | ) | (2,763 | ) | (43,324 | ) | (10,588 | ) | ||||||||
| Other income (expense): |
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| Other income (expense) |
196 | (25 | ) | 346 | (33 | ) | ||||||||||
| Interest expense |
(284 | ) | (158 | ) | (1,610 | ) | (178 | ) | ||||||||
| Changes in fair value - convertible equity security & embedded derivative |
19,356 | (71 | ) | (10,053 | ) | (80 | ) | |||||||||
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| Total other income (expense) |
19,269 | (254 | ) | (11,317 | ) | (291 | ) | |||||||||
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| Net loss |
$ | (12,037 | ) | $ | (3,017 | ) | $ | (54,641 | ) | $ | (10,879 | ) | ||||
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| Basic and Diluted net loss per share |
$ | (0.05 | ) | $ | (0.03 | ) | $ | (0.40 | ) | $ | (0.10 | ) | ||||
| Basic and Diluted weighted average common shares outstanding |
223,116,142 | 105,388,078 | 135,034,921 | 105,343,914 | ||||||||||||
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Fisker Inc. and Subsidiaries
Unaudited Condensed Consolidated Balance Sheets
(amounts in thousands, except share and per share data)
| As of December 31, | ||||||||
| 2020 | 2019 | |||||||
| Current assets: |
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| Cash and cash equivalents |
$ | 991,158 | $ | 1,858 | ||||
| Prepaid expenses and other current assets |
9,872 | 18 | ||||||
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| Total current assets |
1,001,029 | 1,876 | ||||||
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| Non-current assets: |
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| Property and equipment, net |
945 | 65 | ||||||
| Right of use asset, net |
2,548 | 135 | ||||||
| Other non-current assets |
1,329 | — | ||||||
| Intangible asset |
58,041 | — | ||||||
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| Total noncurrent assets |
62,862 | 200 | ||||||
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| Total assets |
$ | 1,063,892 | $ | 2,076 | ||||
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| Current liabilities: |
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| Accounts payable |
$ | 5,158 | $ | 2,135 | ||||
| Accrued expenses |
7,408 | 928 | ||||||
| Lease liabilities (short term) |
655 | 144 | ||||||
| Founders demand note payable |
— | 250 | ||||||
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| Total current liabilities |
13,220 | 3,456 | ||||||
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| Non-current liabilities: |
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| Customer deposits |
3,527 | 946 | ||||||
| Bridge notes payable |
— | 3,797 | ||||||
| Lease liabilities |
1,912 | — | ||||||
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| Total non-current liabilities |
5,439 | 4,743 | ||||||
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| Total liabilities |
18,659 | 8,199 | ||||||
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| Temporary equity |
— | 11,021 | ||||||
| Stockholder’s equity (deficit) |
1,045,232 | (17,143 | ) | |||||
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| Total liabilities and equity |
$ | 1,063,892 | $ | 2,076 | ||||
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5
Fisker Inc. and Subsidiaries
Unaudited Condensed Consolidated Statements of Cash Flows
(amounts in thousands, except share and per share data)
| Three Months Ended Dec. 31, | Years Ended December 31, | |||||||||||||||
| 2020 | 2019 | 2020 | 2019 | |||||||||||||
| Cash flows from Operating Activities |
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| Net loss |
$ | (12,037 | ) | $ | (3,017 | ) | $ | (54,641 | ) | $ | (10,879 | ) | ||||
| Stock-based comp |
377 | 42 | 711 | 85 | ||||||||||||
| Depreciation and Amortization |
51 | 6 | 77 | 25 | ||||||||||||
| Change in operating assets and liabilities |
206 | 383 | 395 | 3,151 | ||||||||||||
| Other operating activities |
(18,660 | ) | 237 | 15,452 | 358 | |||||||||||
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| Net cash used in operating activities |
(30,064 | ) | (2,349 | ) | (38,006 | ) | (7,260 | ) | ||||||||
| Cash flows from Investing Activities |
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| Purchase of property and equipment |
(453 | ) | — | (677 | ) | (14 | ) | |||||||||
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| Net cash used in investing activities |
(453 | ) | — | (677 | ) | (14 | ) | |||||||||
| Cash flows from Financing Activities |
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| Proceeds from issuance of bridge notes |
— | 2,496 | 5,372 | 3,579 | ||||||||||||
| Proceeds from issuance of convertible security |
— | — | 46,500 | — | ||||||||||||
| Proceeds from exercise of warrants / stock options |
4 | 2 | 87 | 8 | ||||||||||||
| Proceeds from share issuance, net |
976,694 | — | 976,023 | — | ||||||||||||
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| Net cash provided by financing activities |
976,699 | 2,498 | 1,027,982 | 3,586 | ||||||||||||
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| Net increase / (decrease) in cash and cash equivalents |
946,181 | 149 | 989,300 | (3,688 | ) | |||||||||||
| Cash and cash equivalents, beginning of period |
44,976 | 1,710 | 1,858 | 5,546 | ||||||||||||
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| Cash and cash equivalents, end of period |
$ | 991,158 | $ | 1,858 | $ | 991,158 | $ | 1,858 | ||||||||
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