HHG Capital Corp Just Filed Its Quarterly Report:   ● Net loss p...

 







Net
loss per share

 



The
Company complies with accounting and disclosure requirements of FASB ASC 260, Earnings Per Share. In order to determine the net income
(loss) attributable to both the redeemable shares and non-redeemable shares, the Company first considered the undistributed income (loss)
allocable to both the redeemable common stock and non-redeemable common stock and the undistributed income (loss) is calculated using
the total net loss less any dividends paid. The Company then allocated the undistributed income (loss) ratably based on the weighted
average number of shares outstanding between the redeemable and non-redeemable ordinary share. Any remeasurement of the accretion to
redemption value of the ordinary share subject to possible redemption was considered to be dividends paid to the public shareholders.
As of June 30, 2022, the Company has not considered the effect of the warrants sold in the Initial Public Offering in the calculation
of diluted net income (loss) per share, since the exercise of the warrants is contingent upon the occurrence of future events and the
inclusion of such warrants would be anti-dilutive and the Company did not have any other dilutive securities and other contracts that
could, potentially, be exercised or converted into common stock and then share in the earnings of the Company. As a result, diluted income
(loss) per share is the same as basic (income) loss per share for the period presented.



 



The
net income (loss) per share presented in the statement of comprehensive loss is based on the following:



 






























           
     
   For
the Three Months ended
 
   June
30, 2022
   June
30, 2021
 
Net
loss
  $(65,554)  $(10,729)
Accretion
of carrying value to redemption value
   (3,098,092)   - 
Net
loss including accretion of carrying value to redemption value
  $(3,163,646)  $(10,729)


 



























           
   For
the Six Months ended
 
   June
30, 2022
   June
30, 2021
 
Net
loss
  $(289,923)  $(36,659)
Accretion
of carrying value to redemption value
   (5,942,740)   - 
Net
loss including accretion of carrying value to redemption value
  $(6,232,663)  $(36,659)


 






 



HHG
CAPITAL CORPORATION



NOTES
TO UNAUDITED CONDENSED FINANCIAL STATEMENTS



(Currency
expressed in United States Dollars (“US$”), except for number of shares)




 







































































   For
the Three Months Ended
 
   June
30, 2022
   June
30, 2021
 
   Redeemable   Non-Redeemable   Redeemable   Non-Redeemable 
   Ordinary
Share
   Ordinary
Share
   Ordinary
Share
   Ordinary
Share
 
Basic
and diluted net loss per share:
   -     -     -     -  
Numerators:       -    -     -  
Allocation
of net loss including carrying value to redemption value
  $(2,432,923)  $(730,723)  $-   $(10,729)
Accretion
of carrying value to redemption value
   3,098,092    -         -    - 
Allocation
of net income (loss)
  $665,169   $(730,723)  $-   $(10,729)
Denominators:                    
Weighted-average
shares outstanding
   5,750,000    1,727,000    -    1,437,500 
Basic
and diluted net income (loss) per share
  $0.12   $(0.42)  $-   $(0.01)



 







































































   For
the Six Months Ended
 
   June
30, 2022
   June
30, 2021
 
   Redeemable   Non-Redeemable   Redeemable   Non-Redeemable 
   Ordinary
Share
   Ordinary
Share
   Ordinary
Share
   Ordinary
Share
 
Basic
and diluted net loss per share:
   -     -         -  
Numerators:       -         -  
Allocation
of net loss including carrying value to redemption value
  $(4,793,074)  $(1,439,589)  $-   $(36,659)
Accretion
of carrying value to redemption value
   5,942,740    -           -    - 
Allocation
of net income (loss)
  $1,149,666   $(1,439,589)  $-   $(36,659)
Denominators:                    
Weighted-average
shares outstanding
   5,750,000    1,727,000    -    1,403,315 
Basic
and diluted net income (loss) per share
  $0.20   $(0.83)  $-   $(0.03)


 



The above information was disclosed in a filing to the SEC. To see the filing, click here.

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