General form of registration statement for all companies including face-amount certificate companies

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

v3.20.4
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2020
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Current assets:        
Cash and cash equivalents $ 173,764 $ 161,405 $ 196,804  
Prepaid expenses 77,250 304,077 43,214  
Total current assets 251,014 465,482 240,018  
Marketable securities held in Trust Account 129,127,500 162,019,909 159,718,098  
Total assets 129,378,514 162,485,391 159,958,116  
Current liabilities:        
Accounts payable 497,644 121,516 108,292  
Accrued expenses 678,891 30,610 6,500  
Convertible note payable - related party 1,500,000 750,000  
Promissory note - related party 1,000,000    
Franchise tax payable 30,050 40,000 200,000  
Income tax payable 96,850    
Total current liabilities 3,803,435 942,126 314,792  
Deferred tax liability 128,105  
Deferred underwriting commissions 5,433,750 5,433,750 5,433,750  
Total liabilities 9,237,185 6,503,981 5,748,542  
Class A common stock, $0.0001 par value; 10,893,219 and 14,461,820 shares subject to possible redemption at $10.57 and $10.44 per share at September 30, 2020 and December 31, 2019, respectively 115,141,325 150,981,401 149,209,569  
Stockholders' Equity:        
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding at September 30, 2020 and December 31, 2019, respectively  
Additional paid-in capital 3,881,645 2,757,412 4,529,248  
Retained earnings 1,117,838 2,242,103 470,267  
Total stockholders' equity 5,000,004 5,000,009 5,000,005 $ (97,583)
Total Liabilities and Stockholders' Equity 129,378,514 162,485,391 159,958,116  
Landsea Homes [Member]        
Current assets:        
Cash and cash equivalents 84,857,000 154,043,000 99,865,000 19,030,000
Cash held in escrow 7,503,000 8,836,000 1,704,000  
Restricted cash 2,001,000 2,335,000 19,724,000 10,036,000
Real estate inventories (including related party interest of $21,366 and $24,405, respectively) 728,155,000 598,179,000 580,473,000  
Real estate inventories not owned   66,680,000  
Due from affiliates 2,506,000 432,000 1,877,000  
Investment in and advances to unconsolidated joint ventures (including related party interest of $1,563 and $2,466, respectively) 26,727,000 42,956,000 61,098,000  
Notes receivable from lot sales [1]   25,000 17,475,000  
Goodwill 20,707,000 5,315,000  
Other assets 40,748,000 27,096,000 15,745,000  
Total assets 913,204,000 839,217,000 864,641,000  
Current liabilities:        
Accounts payable 36,998,000 16,490,000 34,466,000  
Accrued expenses and other liabilities 49,211,000 48,046,000 50,699,000  
Due to affiliates 1,447,000 1,347,000 1,499,000  
Notes and other debts payable, net 309,159,000 189,964,000 191,154,000  
Liabilities from real estate inventories not owned   41,667,000  
Total liabilities 396,815,000 255,847,000 319,485,000  
Stockholders' Equity:        
Common stock value  
Additional paid-in capital 493,746,000 524,516,000 508,823,000  
Retained earnings 21,340,000 40,962,000 23,762,000  
Total stockholders' equity 515,086,000 565,478,000 532,585,000  
Noncontrolling interests 1,303,000 17,892,000 12,571,000  
Total equity 516,389,000 583,370,000 545,156,000  
Total Liabilities and Stockholders' Equity 913,204,000 839,217,000 864,641,000  
LS Boston Point LLC [Member]        
Current assets:        
Cash and cash equivalents   94,737 52,583 44,580
Investment in and advances to unconsolidated joint ventures (including related party interest of $1,563 and $2,466, respectively)   225,000 9,838,556 35,148,867
Total assets   319,737 9,891,139 35,193,447
Current liabilities:        
Accounts payable     120,522
Accrued expenses   20,000 20,000 20,000
Due to affiliates   2,859 2,859 49,245
Total liabilities   22,859 143,381 69,245
Stockholders' Equity:        
Total stockholders' equity   296,878 9,747,758 35,124,202
Total Liabilities and Stockholders' Equity   319,737 9,891,139 35,193,447
Common Stock Class A        
Stockholders' Equity:        
Common stock value 133 106 102  
Total stockholders' equity 133 106 102
Common Stock Class B        
Stockholders' Equity:        
Common stock value 388 388 388  
Total stockholders' equity $ 388 $ 388 $ 388 $ 388
[1] Carrying amount approximates fair value due to short-term nature.