XML 24 R2.htm IDEA: XBRL DOCUMENT v3.22.0.1
Condensed Consolidated Balance Sheets - USD ($)
Dec. 31, 2021
Sep. 30, 2021
Dec. 31, 2020
Current Assets:      
Cash and cash equivalents   $ 59,319 $ 878,653
Prepaid expenses and other current assets   228,257 168,877
Prepaid expenses     168,527
Other current assets     350
Total Current Assets   287,576 1,047,530
Investments held in Trust Account   115,000,482 115,020,078
Total Assets   115,288,058 116,067,608
Current liabilities:      
Accounts payable   161,067 11,658
Franchise tax payable   103,115 78,192
Other accrued liabilities   70,000 70,000
Liabilities, Class A Common Stock Subject to Possible Redemption and Stockholders’ Deficit:      
Total Current Liabilities   334,182 159,850
Warrant liabilities   8,595,000 9,040,670
Deferred underwriting commissions in connection with initial public offering   4,025,000 4,025,000
Total liabilities   12,954,182 13,225,520
Commitments and Contingencies    
Class A common stock shares subject to possible redemption   115,000,000 115,000,000
Stockholders’ Deficit:      
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued or outstanding  
Class A common stock, $0.0001 par value; 50,000,000 shares authorized; 2,875,000 and -0- shares issued and outstanding (excluding 11,500,000 and 11,500,000 shares subject to possible redemption) at September 30, 2021 and December 31, 2020, respectively   288
Class B common stock, $0.0001 par value; 12,500,000 shares authorized; -0- shares and 2,875,000 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively   288 [1],[2]
Additional paid-in-capital  
Accumulated deficit   (12,666,412) (12,158,200)
Total stockholders’ equity   (12,666,124) (12,157,912)
Total stockholders’ equity   (12,666,124) (12,157,912)
Total Liabilities, Class A Common Stock Subject to Possible Redemption, and Stockholders’ Deficit   $ 115,288,058 116,067,608
DocGo Inc. and Subsidiaries      
Current Assets:      
Cash and cash equivalents $ 175,537,221   32,418,220
Accounts receivable, net of allowance of $7,377,389 and $3,193,048 as of December 31, 2021 and 2020, respectively 78,383,614   24,854,957
Prepaid expenses and other current assets 2,111,656   1,150,491
Total Current Assets 256,032,491   58,423,668
Property and equipment, net 12,733,889   9,105,597
Intangibles, net 10,678,049   10,674,106
Goodwill 8,686,966   6,610,557
Restricted cash 3,568,509   2,039,053
Operating lease right-of-use assets 4,195,682   4,997,407
Finance lease right-of-use assets 9,307,113   7,001,644
Equity method investment 589,058  
Other assets 3,810,895   1,320,331
Total Assets 309,602,652   100,172,363
Current liabilities:      
Accrued liabilities 35,110,877   14,254,438
Line of credit 25,881  
Notes payable, current 600,449   664,357
Due to seller 1,571,419   1,125,522
Operating lease liability, current 1,461,335   1,620,470
Finance lease liability, current 3,271,990   1,876,765
Accounts payable 15,833,970   3,954,123
Notes payable, non-current 1,302,839   594,494
Operating lease liability, non-current 2,980,946   3,638,254
Finance lease liability, non-current 6,867,420   5,496,899
Liabilities, Class A Common Stock Subject to Possible Redemption and Stockholders’ Deficit:      
Total Current Liabilities 57,875,921   23,495,675
Warrant liabilities 13,518,502  
Total liabilities 82,545,628   33,225,322
Commitments and Contingencies  
Stockholders’ Deficit:      
Class A common stock, $0.0001 par value; 50,000,000 shares authorized; 2,875,000 and -0- shares issued and outstanding (excluding 11,500,000 and 11,500,000 shares subject to possible redemption) at September 30, 2021 and December 31, 2020, respectively 10,013  
Additional paid-in-capital 283,161,216   142,346,852
Accumulated deficit (63,556,714)   (87,300,472)
Accumulated other comprehensive loss (32,501)   (48,539)
Total stockholders’ equity 219,582,014   54,997,841
Noncontrolling interests 7,475,010   11,949,200
Total stockholders’ equity 227,057,024   66,947,041
Total Liabilities, Class A Common Stock Subject to Possible Redemption, and Stockholders’ Deficit $ 309,602,652   $ 100,172,363
[1] Effective November 16, 2020, the Sponsor forfeited 431,250 Class B common shares as a result of the underwriter waiving its over-allotment option (see Note 4).
[2] On October 14, 2020, the Sponsor effected a surrender of 431,250 Class B common shares to the Company for no consideration, resulting in a decrease in the total number of Class B common shares then outstanding from 3,737,500 to 3,306,250 (see Note 5).