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Financial report summary
?Management Discussion
- Our activity from January 1, 2023 through June 30, 2023 has been limited to the search for a prospective initial Business Combination. We will not generate any operating revenues until the closing and completion of our Initial Business Combination. However, we expect to incur increased expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses.
- For the three months ended June 30, 2023, we had net income of $4.2 million which consisted of a non-cash gain of $4.5 million from the change in fair value of Warrant liabilities, partially offset by $0.2 million in general and administrative costs.
- For the six months ended June 30, 2023, we had net income of $4.5 million which consisted of a non-cash gain of $4.9 million from the change in fair value of Warrant liabilities, partially offset by $0.4 million in general and administrative costs.