Augmedix(AUGX) - 2019 Q1 - Quarterly Report

Financial Position - As of March 31, 2019, the company had total assets of $3,679, compared to $25 as of December 31, 2018[44] - The company's current liabilities as of March 31, 2019, totaled $46,169, an increase from $34,548 as of December 31, 2018[44] - As of March 31, 2019, the company had $2,503 in cash and is dependent on future funding to meet its operational costs[38] - The company issued a promissory note to a stockholder and director, with an outstanding amount of $46,169 as of March 31, 2019, including accrued interest[46] Operational Performance - For the three months ended March 31, 2019, the company reported a net loss of $7,967, primarily due to legal, accounting, and administrative expenses[48] - The company has not generated any revenue since its inception on December 27, 2018, and is unlikely to do so until a business combination is completed[47] Future Plans - The company anticipates incurring costs related to filing Exchange Act reports and investigating potential acquisitions over the next twelve months[37] - The company plans to continue efforts to locate suitable acquisition candidates over the next twelve months[47] Regulatory and Compliance - The company is classified as an "emerging growth company" and has elected to delay the adoption of new accounting standards[32] - The company has not entered into any definitive agreements for business combinations as of the date of the report[42]