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Balance Sheets - USD ($)
Dec. 31, 2021
Dec. 31, 2020
Current assets    
Cash and cash equivalent $ 235,295
Prepaid expenses 98,066
Total current assets 333,361
Marketable securities held in Trust Account 133,010,583
Total Assets 133,343,944
Current liabilities    
Accrued expenses and liabilities 247,868
Due to related party 1,816 716
Total current liabilities 249,684 716
Warrant liability 247,514
Total liabilities 497,198 716
Commitments and Contingencies
Common stock subject to possible redemption, 13,300,000 shares and 0 shares at redemption value as of December 31, 2021 and 2020, respectively 133,010,583
Stockholders’ Deficit:    
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding
Common stock, value 416
Additional paid-in-capital 818,347
Accumulated deficit (982,600) (716)
Total Stockholders’ Deficit (163,837) (716)
Total Liabilities and Stockholders’ Deficit 133,343,944
SoundHound, Inc.    
Current assets    
Cash and cash equivalent 21,626,000 43,692,000
Restricted cash equivalents 460,000 230,000
Accounts receivable, net of allowances of $109 as of December 31, 2021 and December 31, 2020, respectively 2,060,000 3,575,000
Prepaid expenses and other current assets 2,193,000 1,452,000
Debt issuance cost 1,132,000
Total current assets 27,471,000 48,949,000
Restricted cash equivalents, non-current 736,000 1,060,000
Right-of-use assets 10,291,000
Property and equipment, net 6,155,000 10,435,000
Deferred tax asset 2,169,000 2,282,000
Other assets 2,381,000 911,000
Total Assets 49,203,000 63,637,000
Current liabilities    
Accounts payable 3,760,000 3,336,000
Accrued expenses and liabilities 7,298,000 3,411,000
Capital lease obligation, current portion 2,331,000
Operating lease liabilities, current portion 3,281,000
Financing lease liabilities, current portion 1,301,000
Income tax liability 2,737,000 2,953,000
Deferred rent, current portion 414,000
Deferred revenue, current portion 6,042,000 12,078,000
Convertible notes, current portion 29,868,000
Derivative liability 3,488,000
Note payable, current portion 29,964,000
Total current liabilities 87,739,000 24,523,000
Capital lease obligation, net of current portion 1,252,000
Operating lease liabilities, net of current portion 8,611,000
Financing lease liabilities, net of current portion 292,000
Deferred rent, net of current portion 1,511,000
Deferred revenue, net of current portion 14,959,000 19,204,000
Derivative and warrant liability 4,384,000
Convertible notes, net of current portion 13,058,000
Other liabilities 1,336,000 2,371,000
Total liabilities 112,937,000 66,303,000
Commitments and Contingencies
Redeemable convertible preferred stock; $0.0001 par value; 26,316,129 shares authorized; 19,248,537 and 19,132,387 shares issued and outstanding, liquidation preference of $284,826 and $284,047 as of December 31, 2021 and December 31, 2020, respectively 279,503,000 273,687,000
Stockholders’ Deficit:    
Common stock, value 1,000 1,000
Additional paid-in-capital 43,491,000 30,836,000
Accumulated other comprehensive loss (1,000)
Accumulated deficit (386,729,000) (307,189,000)
Total Stockholders’ Deficit (343,237,000) (276,353,000)
Total Liabilities and Stockholders’ Deficit $ 49,203,000 $ 63,637,000