Summary of Significant Accounting Policies (Tables)
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6 Months Ended |
12 Months Ended |
Jun. 30, 2021 |
Dec. 31, 2020 |
| Summary of reconciliation of net income (loss) and number of shares used in computed basic and diluted income (loss) per share |
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The following table reflects the calculation of basic and diluted net income (loss) per ordinary share (in dollars, except per share amounts):
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For the Period |
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from |
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July 30, 2019 |
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(inception) |
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Year Ended |
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Through |
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December 31, |
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December 31, |
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2020 |
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2019 |
Redeemable Ordinary Shares |
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Numerator: Earnings allocable to Redeemable Ordinary Shares |
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Interest Income |
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$ |
744,021 |
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$ |
414,479 |
Net Earnings |
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$ |
744,021 |
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$ |
414,479 |
Denominator: Weighted Average Redeemable Ordinary Shares |
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Redeemable Ordinary Shares, Basic and Diluted |
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13,800,000 |
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13,800,000 |
Earnings/Basic and Diluted Redeemable Ordinary Shares |
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$ |
0.05 |
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$ |
0.03 |
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Non-Redeemable Ordinary Shares |
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Numerator: Net (Loss) Income minus Redeemable Net Earnings |
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Net (Loss) Income |
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$ |
(1,531,192) |
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$ |
(378,919) |
Redeemable Net Earnings |
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(744,021) |
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(414,479) |
Non-Redeemable Net Loss |
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$ |
(2,275,213) |
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$ |
(793,398) |
Denominator: Weighted Average Non-Redeemable Ordinary Shares |
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Non-Redeemable Ordinary Shares, Basic and Diluted |
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3,600,000 |
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3,600,000 |
Loss/Basic and Diluted Non-Redeemable Ordinary Shares |
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$ |
(0.63) |
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$ |
(0.22) |
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| SHAPEWAYS, INC |
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| Summary of reconciliation of cash, cash equivalents and restricted cash |
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June 30, 2021 |
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December 31, 2020 |
Cash and cash equivalents |
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$ |
6,250 |
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$ |
8,564 |
Restricted cash |
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145 |
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145 |
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$ |
6,395 |
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$ |
8,709 |
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December 31, |
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2020 |
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2019 |
Cash and cash equivalents |
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$ |
8,564 |
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$ |
9,464 |
Restricted cash |
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145 |
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141 |
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$ |
8,709 |
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$ |
9,605 |
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| Summary of estimated useful lives of property, plant and equipment |
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Asset Category |
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Depreciable Life |
Machinery and equipment |
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5 years |
Computers and IT equipment |
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3 years |
Furniture and fixtures |
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7 years |
Leasehold improvements |
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** |
** |
Leasehold improvements are amortized using the straight-line method over the shorter of the lease term or estimated useful life of the asset. |
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Asset Category |
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Depreciable Life |
Machinery and equipment |
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5 years |
Computers and IT equipment |
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3 years |
Furniture and fixtures |
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7 years |
Leasehold improvements |
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** |
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| Summary of reconciliation of net income (loss) and number of shares used in computed basic and diluted income (loss) per share |
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Six Months Ended June 30, |
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2021 |
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2020 |
Basic net income (loss) per share computation: |
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Net income (loss) |
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$ |
1,573 |
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(2,470) |
Weighted average common shares – basic |
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21,655,829 |
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20,571,122 |
Basic net income (loss) per share |
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$ |
0.07 |
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$ |
(0.12) |
Diluted net income (loss) per share computation: |
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Net income (loss) |
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$ |
1,573 |
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$ |
(2,470) |
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Six Months Ended June 30, |
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2021 |
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2020 |
Weighted average common shares |
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21,655,829 |
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20,571,122 |
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Incremental shares from assumed exercise of Preferred Stock warrants, convertible notes, and options |
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23,242,760 |
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— |
Adjusted weighted average shares – diluted |
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44,898,589 |
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20,571,122 |
Diluted net income (loss) per share |
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$ |
0.04 |
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$ |
(0.12) |
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| Summary of anti-dilutive shares of common stock outstanding |
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Year Ended December 31, |
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2020 |
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2019 |
Potentially dilutive securities: |
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Convertible Series A-2 Preferred Stock |
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3,000,667 |
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3,000,667 |
Convertible Series B Preferred Stock |
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1,809,751 |
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1,809,751 |
Convertible Series B-1 Preferred Stock |
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2,174,591 |
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2,174,591 |
Convertible Series C Preferred Stock |
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4,973,101 |
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4,973,101 |
Convertible Series D Preferred Stock |
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3,965,857 |
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3,965,857 |
Convertible Series E Preferred Stock |
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6,655,728 |
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6,655,728 |
Warrants |
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381,926 |
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381,926 |
Convertible Promissory Notes |
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1,610,024 |
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1,495,273 |
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