U
CN Healthy Food Tech Group Corp.
UCFICIK 0001901203NasdaqNon-AcceleratedSmaller ReportingEmerging GrowthFood And Kindred ProductsDelawareFY ends Dec 31
Period
FY 2024
Revenue
—
Net Income
$1.38M
Total Assets
$72.80M
Equity
$-4.14M
Shares Out
52.23M
Op. Cash Flow
$-1.01M
Business
CN Healthy Food Tech Group Corp. is a blank check company formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination. It offers IPO units comprised of common stock, warrants and rights, completed a private placement of warrants, maintains a trust account for IPO proceeds and provides sponsor-driven transaction structuring and public-listing facilitation. Its key components include the sponsor/private placement arrangements, the trust account and the post-closing operating subsidiary to be acquired (CFI). It targets and evaluates acquisition opportunities across North America, Asia and Europe and uses capital markets, stockholder votes and Nasdaq listing processes as primary distribution channels.
Summary from filing dated 2025-02-21
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|
| Formation and operational costs | 2 | 309,018 | 181,003 | |
| Loss from operations | −2 | −309,018 | −181,003 | |
| Interest earned on marketable securities held in Trust Account | 4 | — | — | |
| Change on overallotment liability | 11,135 | — | — | |
| Lawsuit settlements | 295,000 | — | — | |
| Total other income | 4 | — | — | |
| Income (Loss) before provision for income taxes | 2 | −309,018 | −181,003 | |
| Provision for income taxes | −746,540 | 226 | — | |
| Net income (loss) | 1 | −308,792 | −181,003 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|
| Cash | 454 | 656,977 | — | — | |
| Prepaid expenses and other current assets | 834 | 33,157 | — | — | |
| Prepaid insurance | 42,229 | — | — | — | |
| Total Current Assets | 43,517 | 690,134 | — | — | |
| Marketable securities held in Trust Account | 73 | 69 | — | — | |
| Total Assets | 73 | 70 | 671,667 | — | |
| Accounts payable | 87,578 | — | — | — | |
| Accrued expenses | 400,233 | 70,810 | 70,011 | — | |
| Accrued offering costs | 75,000 | 221,914 | — | — | |
| Income taxes payable | 746,314 | — | — | — | |
| Overallotment liability | — | 11,135 | — | — | |
| Loan payable | 229,770 | — | — | — | |
| Promissory note | 425,013 | — | — | — | |
| Total Current Liabilities | 3 | 861,640 | 847,041 | — | |
| Deferred underwriting fee payable | 3 | 3 | — | — | |
| Total Liabilities | 5 | 3 | 847,041 | — | |
| Commitments and Contingencies (Note 5) | — | — | — | — | |
| Common stock subject to possible redemption, 6,900,000 shares at redemption value of $10.41 and $10.00 per share as of December 31, 2024 and 2023, respectively | 72 | 69 | — | — | |
| Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding | — | — | — | — | |
| Common stock, $0.0001 par value; 50,000,000 shares authorized, 1,967,000 and 1,999,200 shares issued and outstanding (excluding 6,900,000 shares subject to possible redemption) as of December 31, 2024 and 2023, respectively | 197 | 200 | 193 | — | |
| Additional paid-in capital | — | — | 24,807 | — | |
| Accumulated deficit | −4 | −3 | −200,374 | — | |
| Total Stockholders Deficit | −4 | −3 | −175,374 | 5,629 | |
| Total Liabilities and Stockholders Deficit | 73 | 70 | 671,667 | — |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|
| Payment of office expenses made by sponsor | — | 269,251 | — | |
| Courtesy discount on legal fees | — | −11,301 | — | |
| Change in fair value of Overallotment liability | −11,135 | — | — | |
| Prepaid expenses and other current asset | 32,323 | −33,157 | — | |
| Short-term prepaid insurance | −42,229 | — | — | |
| Accounts payable | 87,578 | — | — | |
| Accrued expenses | 329,423 | 799 | — | |
| Accrued offering cost | −5,000 | — | — | |
| Income taxes payable | 746,314 | — | — | |
| Net cash used in operating activities | −1 | −83,200 | — | |
| Investment of cash into trust Account | −229,770 | −69 | — | |
| Cash withdrawn from Trust Account to pay franchise and income taxes | 3,338 | — | — | |
| Net cash used in investing activities | −226,432 | −69 | — | |
| Proceeds from sale of Units, net of underwriting discounts paid | — | 68 | — | |
| Proceeds from promissory note - related party | 70,000 | — | — | |
| Proceeds from promissory note | 425,013 | — | — | |
| Proceeds from loan payable | 229,770 | — | — | |
| Proceeds from sale of private placements warrants | — | 2 | — | |
| Repayment of promissory note - related party | — | −1 | — | |
| Payment of offering costs | −141,914 | −115,800 | — | |
| Net cash provided by financing activities | 582,869 | 70 | — | |
| Net Change in Cash and cash equivalents | −656,523 | 656,977 | — | |
| Remeasurement of Common Stock subject to possible redemption | 3 | 8 | — | |
| Deferred underwriting fee payable | — | 3 | — | |
| Issuance of representative shares | — | 4 | — | |
| Issuance of founder shares | 3 | 3 | — | |
| Offering costs included in accrued offering costs | — | 221,914 | 106,250 | |
| Offering costs paid via promissory notes | — | 632,273 | — |
Filings
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