DocGo (DCGO) - 2021 Q2 - Quarterly Report

Financial Position - As of June 30, 2021, the company had approximately $234,000 in cash and approximately $293,000 in working capital[108]. - The company has warrant liabilities of $9.5 million and a deferred underwriting commission of $4.0 million payable from the Trust Account upon consummation of the initial business combination[115]. - The company has no off-balance sheet arrangements as of June 30, 2021[120]. Business Performance - For the three months ended June 30, 2021, the company reported a net loss of approximately $3.0 million, including a non-operating loss of approximately $2.8 million from changes in fair value of warrant liabilities[112]. - For the six months ended June 30, 2021, the company had a net loss of approximately $1.1 million, which included a non-operating loss of approximately $0.4 million from changes in fair value of warrant liabilities[113]. Shareholder Information - The company has 11,500,000 Public Shares outstanding, with 9,678,938 classified as redeemable shares[117]. Merger and Acquisition - The company entered into a merger agreement with Ambulnz, Inc. dba DocGo, with a PIPE transaction providing for the purchase of 12,500,000 shares at $10.00 per share for gross proceeds of $125 million[105]. - The company has until October 19, 2022, to complete its initial business combination, or it will cease operations and redeem Public Shares[106]. Future Outlook - The company expects to have sufficient working capital and borrowing capacity to meet its needs through the consummation of a business combination or one year from the filing date[110]. - The company qualifies as an "emerging growth company" under the JOBS Act, allowing it to delay the adoption of new or revised accounting standards[121].