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Insight Acquisition (INAQ) - 2025 Q1 - Quarterly Report
2025-05-15 20:03
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission File Number: 001-40775 ALPHA MODUS HOLDINGS, INC. (Exact name of registrant as specified in its charter) (State or other ...
Alpha Modus Plans to Close Business Combination With Insight Acquisition Corp. Today and Expects to Begin Trading on Monday Under "AMOD" Ticker
Newsfilter· 2024-12-13 18:13
CORNELIUS, N.C. and NEW YORK, Dec. 13, 2024 (GLOBE NEWSWIRE) --  Alpha Modus Corp. ("Alpha Modus" or the "Company"), a technology company with a core focus on artificial intelligence in retail, and Insight Acquisition Corp., a special purpose acquisition company (NASDAQ:INAQ) plan to close their business combination today. Alpha Modus expects to begin trading on the Nasdaq Global Market under the ticker symbols "AMOD" (its common stock) and "AMODW" (its warrants) on Monday, December 16, 2024. About Alpha Mo ...
Alpha Modus Plans to Close Business Combination With Insight Acquisition Corp. Today and Expects to Begin Trading on Monday Under “AMOD” Ticker
GlobeNewswire News Room· 2024-12-13 18:13
CORNELIUS, N.C. and NEW YORK, Dec. 13, 2024 (GLOBE NEWSWIRE) --  Alpha Modus Corp. ("Alpha Modus" or the “Company”), a technology company with a core focus on artificial intelligence in retail, and Insight Acquisition Corp., a special purpose acquisition company (“Insight” NASDAQ: INAQ) plan to close their business combination today. Alpha Modus expects to begin trading on the Nasdaq Global Market under the ticker symbols “AMOD” (its common stock) and “AMODW” (its warrants) on Monday, December 16, 2024. Abo ...
Alpha Modus Files Patent Infringement Lawsuit Against Brookshire Grocery Co.
GlobeNewswire News Room· 2024-11-15 13:30
CORNELIUS, N.C., Nov. 15, 2024 (GLOBE NEWSWIRE) -- Alpha Modus Corp. ("Alpha Modus" or the “Company”), a technology company with a core focus on artificial intelligence in retail, today announced it has filed a patent infringement lawsuit against Brookshire Grocery Co. alleging infringement of several Alpha Modus patents pertaining to the Company's '571 patent portfolio, ‘825 patent portfolio, ‘672 patent portfolio, ‘890 patent portfolio and ‘880 patent portfolio, which encompass retail marketing and advert ...
Alpha Modus and Insight Acquisition Corp. Announce Effectiveness of Form S-4 Registration Statement for Proposed Business Combination
GlobeNewswire News Room· 2024-09-19 13:00
INAQ's Special Meeting of Stockholders to Approve the Business Combination Scheduled to be Held on October 14, 2024 CORNELIUS, N.C. and NEW YORK, Sept. 19, 2024 (GLOBE NEWSWIRE) -- Alpha Modus Corp. ("Alpha Modus"), a technology company with a core focus on artificial intelligence in retail, and Insight Acquisition Corp. ("Insight") (NASDAQ: INAQ), a publicly traded special purpose acquisition company, announced today that the U.S. Securities and Exchange Commission ("SEC") has declared effective the regist ...
Alpha Modus Announces Two New Patent Awards for Consumer Experience and Personalized Marketing and Advertising in Retail
Newsfilter· 2024-07-22 15:38
CORNELIUS, N.C., July 22, 2024 (GLOBE NEWSWIRE) -- Alpha Modus, Corp. ("Alpha Modus"), a technology company with a core focus on artificial intelligence in retail, today announced it has received the following two new patent awards from the United States Patent and Trademark Office: About Alpha Modus About Insight Acquisition Corp. In connection with the proposed Business Combination, Insight and Alpha Modus have filed with the SEC a registration statement on Form S-4, which includes Insight's proxy stateme ...
Alpha Modus Announces Two New Patent Awards for Consumer Experience and Personalized Marketing and Advertising in Retail
GlobeNewswire News Room· 2024-07-22 15:38
Contacts: U.S. Patent No. 12,026,731, titled "Method for Personalized Marketing and Advertising of Retail Products," issued on July 2, 2024. Effective as of October 13, 2023, Alpha Modus entered into a business combination agreement (the "BCA") with Insight Acquisition Corp. ("Insight"), pursuant to which Alpha Modus would be acquired by Insight (the "Business Combination"). The closing of the proposed Business Combination is subject to a number of conditions, as set out in the BCA, including but not limite ...
Insight Acquisition (INAQ) - 2024 Q1 - Quarterly Report
2024-06-05 22:15
(Exact name of registrant as specified in its charter) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to INSIGHT ACQUISITION CORP. Delaware 001-40775 86-3386030 (State or other jurisdiction of incorporation or organi ...
Insight Acquisition (INAQ) - 2023 Q4 - Annual Report
2024-05-14 20:08
IPO and Funding - The company completed an IPO on September 7, 2021, generating gross proceeds of $240.0 million, with offering costs of approximately $17.5 million[349] - $241.2 million of the net proceeds from the IPO and Private Placement were placed in a trust account, invested in U.S. government securities[352] - The company's management has broad discretion over the use of IPO proceeds, primarily intended for consummating a Business Combination[353] - The company secured a $1,000,000 funding agreement with Polar Multi-Strategy Master Fund to cover working capital expenses, with $150,000 already funded in September 2023[359] - Polar funded the Sponsor $600,000 under the Subscription Agreement in 2023, which was loaned to the company[369] Business Combination and Merger - The company must complete a Business Combination by December 7, 2023, or extend the period by depositing $20,000 per month into the Trust Account, up to June 7, 2024[354] - The company entered into a business combination agreement with Alpha Modus on October 13, 2023, with the merger expected to make Alpha Modus a wholly owned subsidiary[363] - The company filed a registration statement on Form S-4 with the SEC on December 28, 2023, in connection with the proposed business combination with Alpha Modus[364] - The company terminated its business combination agreement with Avila Energy Corporation on August 10, 2023, with Avila agreeing to reimburse $300,000 in expenses[357] - The company has until June 7, 2024 to consummate a Business Combination, or face mandatory liquidation and dissolution[370] Financial Performance and Losses - As of December 31, 2023, the company had $0 in its operating bank account and a working capital deficit of $3,571,406[365] - For the year ended December 31, 2023, the company had a net loss of approximately $651,000[378] - For the year ended December 31, 2022, the company had net income of approximately $11.9 million[379] - The company incurred approximately $120,000 under the services agreement with the Sponsor for the year ended December 31, 2023[383] - The company incurred approximately $180,000 under the services agreement with management for the year ended December 31, 2023[384] Tax and Trust Account Transactions - The company booked a liability of $2,156,214 for the excise tax based on 1% of shares redeemed during the reporting period[374] - The company withdrew a total of $2,497,248.57 from the Trust Account for tax payments between March 2, 2023, and December 5, 2023[391] - $1,447,889.17 was paid for estimated income tax payments and Delaware franchise taxes, with $1,130,000 allocated for 2022 and 2023 income taxes and $317,889.17 for Delaware franchise taxes[391] - $1,049,359.40 withdrawn from the Trust Account for tax purposes was used to pay other business expenses, which was fully reimbursed by the Sponsor by March 26, 2024[391] - The Sponsor reimbursed the Trust Account with $1,085,644.32, including $36,285.07 for interest that would have accrued on the erroneously withdrawn funds[391] Management Changes and Compensation - Mr. Gary transferred $480,000 and $411,000 from the company's operating account to the Sponsor on July 20, 2023, and August 7, 2023, respectively, which were later returned by the Sponsor[392] - Mr. Gary was removed as CEO and CFO on April 21, 2024, and appointed as Assistant Finance Manager[393] - Michael Singer was appointed as the new CEO of the company on April 21, 2024[394] - Glenn Worman was engaged as the new CFO on April 21, 2024, and will approve and sign the company's 2023 Annual Report on Form 10-K[396] - Mr. Gary agreed to reimburse the company for all fees and expenses related to the engagement of Mr. Worman as CFO[399] - Mr. Gary forfeited $132,500 in deferred compensation and ceased accruing $7,500 per month in service fees[400] Risks and Uncertainties - The company faces risks including no operating history, no revenues, and uncertainties related to completing a Business Combination, particularly due to the COVID-19 pandemic[350] Notes and Agreements - The company repaid $157,000 of the Note balance on September 7, 2021 and the remaining $6,000 on September 13, 2021, terminating the Note[366] - The company issued an unsecured promissory note of $480,000 to the Sponsor on August 17, 2023, which was later rescinded on November 6, 2023[368] Off-Balance Sheet Arrangements - The company has no off-balance sheet arrangements as of December 31, 2023[387]
Insight Acquisition (INAQ) - 2023 Q3 - Quarterly Report
2023-11-15 01:59
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to INSIGHT ACQUISITION CORP. (Exact name of registrant as specified in its charter) | Delaware | 001-40775 | 86-3386030 | | --- | --- | --- | | (State or other juris ...