专业自动物流公司2025年季度报告

Item 2. Management’s Discussion and Analysis of Results of Operations and Financial Condition Item3. Quantitative and Qualitative Disclosures About Market RiskItem 4. Controls and ProceduresPART II - OTHER INFORMATION:Item 1. Legal ProceedingsItem 1A. Risk Factors Item 6. Exhibitsi Balance, March 31, 20242,939,130$ SharesAmountearningsEquityBalance, December 31, 2023392,825$3,928$7,748,792$7,752,720 Balance, March 31, 2024392,825$3,928$8,755,672$8,759,600The accompanying notes to the condensed consolidated financial statements are an integral part of these statements.3 SuccessorPredecessor monthsendedMarch 31,monthsendedMarch 31,MonthsendedMarch31, 202520242024Cash flows from operating activities:Net (loss) income$(3,191,685)$(309,878)$1,184,632Adjustments to reconcile net (loss) income to net cash flows provided by operatingactivities:—Stock-based compensation1,183,009—Provision for credit losses142,310— Maintenance supplies(81,273)—Income tax receivable(25,130)Prepaid expenses and other assets2,602,440— Accrued liabilities(614,558)(1,163,000)(1,993,447)Income tax payable——(666,128)Operating lease liabilities(436,363)—Net cash flows provided by(used in) operating activities1,633,024(382,135)5,343,437 Proceeds from sale of equipment251,735—Purchases of property and equipment(2,641,766)—Net cash flows (used in) provided by investing activities(2,390,031)—Cash flows from financing activities:Proceeds from line of credit2,000,000—13,265,526Repayments of line of credit(1,000,000)—(16,715,655)Repayments of long-term debt(4,709,580)— Supplemental disclosure of cash flow information:—Cash paid for interest$1,558,106$—$Cash paid for taxes$—$—$1,050,000 Note1 —Nature of operationsAH Acquisition Corp. was formed on June13, 2023, pursuant to the laws of the State of Delaware to become a holding electric vehicle (“EV”) producers, auto dealers, auto auctions, rental car companies, and auto leasing companies. Proficient operates anasset-based Company Drivers service (“Company Drivers”) on behalf of the manufacturers as well as various third-party logisticsmanagement companies or brokers. In addition, Proficient provides third party logistics to other transportation companies under anasset-light freight model (“Subhaulers”). On May 13, 2024, Proficient Auto Logistics, Inc. (“Proficient”) completed the initial public offering (the “IPO”) of itscommon stock. Prior to the IPO, Proficient had entered into agreements (the “Combination Agreements”) to acquire in multiple,separate acquisitions (the “Combinations”)fiveoperating businesses and their respective affiliated entities, as applicable, operating (iii) Sierra Mountain Group, Inc. (“Sierra”), (iv) Proficient Auto Transport, Inc. (“Proficient Transport”), and (v) Tribeca AutomotiveInc. (“Tribeca” and, together with Delta, Deluxe, Sierra, and Proficient Transport, the “Founding Companies”). On May 13, 2024, inconnection with the closing of the IPO, Proficient also completed the acquisitions of all the Founding Companies. Repair, LLC, (“UTT”), a repair facility located at the ATG headquarters terminal in Ogden, Utah for $4.5million in cash.Theseacquisitions expanded the Company’s geographic presence and services offered.The Combinations and subsequent acquisitions are accounted for as business combinations under ASC 805. Under this Proficient has been identified as the designated accounting acquirer (“Successor”) of each of the Founding Companies and Proficient Transport has been identified as the designated accounting predecessor (“Predecessor”) to the Company. The Successorfinancial information presented herein includes results of operations for the period ended March 31, 2025 and the unaudited condensed consolidated financial statements as of, and for the three months ended, March 31, 2024 for Proficient (Successor) and the threemonths ended March 31, 2024 for Proficient Transport (Predecessor) are included in this Quarterly Report on Form 10-Q. A black-linebetween the Successor and Predecessor periods has been placed in the Condensed Consolidated Statements of Operations, CondensedConsolidated Statements of Stockholders’ Equity (Deficit), Condensed Consolidated Statements of Cash Flows and in the tables to the to Note 3, “Business Combinations.” 5 to the corresponding reporting entity.Accounts Receivable—Accounts receivable represents customer obligations due under normal trade terms. The Companyreviews accounts receivable on a continuing basis to determine if any receivables are potentially uncollectible. The Company writesoff uncollectible receivables based on specifically identified amounts determined to be uncollectible. Based on the informationavailable, the Company recorded an allowance for credit losses of approximately $224,017and $134,382at March 31, 2025 and assumed as soon as practicable within the measurement period, but not to exceed one year from the acquisition date.Goodwill— Goodwill is recorded when the purchase price paid in a bus