Nocturne Acquisition Corporation (NASDAQ: MBTC), a Cayman Islands-based blank-check company, has reported a surge in its total assets with $21.65 million as of March 31, 2023, according to the firm’s recent SEC Form 10-Q filing. Established in 2020, the company aims to merge, acquire, or reorganize assets and businesses for more profitable operations.
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Nocturne Acquisition Corp, a smaller reporting company with an emerging growth status, witnessed an increase in its total assets compared to December 31, 2022, when it reported a value of $21.219 million. Besides accumulating assets in the marketable securities held in the Trust Account, the company also registered growth in cash, prepaid expenses, and total current assets during this period.
The SEC report also details the company’s merger discussions with Cognos Therapeutics, with the aim of creating a combined company to be named Cognos Therapeutics Holdings. However, the completion of the merger is uncertain and dependent on various conditions such as achieving a total combined company value of at least 80% of the net assets in the Trust Account. The company must also comply with the Investment Company Act and present shareholders with the opportunity to redeem shares upon the completion of the merger.
According to the company’s financial information, operating costs for the three months ending on March 31, 2023, amounted to $585,321, while net losses reached $308,711 during the same period. At the same time, Nocturne Acquisition Corp reported total operating costs of $205,619 and net losses of $193,922 during the three months ending on March 31, 2022.
Despite the uncertainty surrounding the proposed business combination with Cognos Therapeutics, Nocturne Acquisition Corp continues to demonstrate financial growth. As the company actively seeks strategic partnerships and opportunities to grow its asset base, investors can anticipate more developments in the future.
Income Statement
Financials in millions USD. Fiscal year is January – December. source
| Year | 2022 | 2021 | |
|---|---|---|---|
| 0 | Selling, General & Admin | 2.05 | 0.72 |
| 1 | Operating Expenses | 2.05 | 0.72 |
| 2 | Operating Income | -2.05 | -0.72 |
| 3 | Other Expense / Income | -0.84 | -0.01 |
| 4 | Pretax Income | -1.21 | -0.71 |
| 5 | Net Income | -1.21 | -0.71 |
| 6 | Shares Outstanding (Basic) | 9 | 12 |
| 7 | Shares Outstanding (Diluted) | 9 | 12 |
| 8 | Shares Change | -23.14% | – |
| 9 | EPS (Basic) | -0.14 | -0.06 |
| 10 | EPS (Diluted) | -0.14 | -0.06 |
| 11 | Free Cash Flow Per Share | -0.14 | -0.05 |
| 12 | EBITDA | -1.21 | -0.71 |
| 13 | EBIT | -1.21 | -0.71 |
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