Content analysis
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Legalese | ||
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Coll. sophomore V bad
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New words:
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Removed:
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Financial report summary
?Management Discussion
- We have neither engaged in any operations nor generated any revenues to date. The only activities through March 31, 2022 were activities related to our formation, the IPO and search for prospective targets for an Initial Business Combination, such as Gorilla. We do not expect to generate any operating revenues until after the completion of our Initial Business Combination. We generate non-operating income in the form of interest income on marketable securities held in the Trust Account. We incur expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as expenses for due diligence on prospective targets.
- For the three months ended March 31, 2022, we had net income of $915,225, which consisted of $15,703 in interest earned on marketable securities held in the Trust Account, $5 in interest earned in our operating bank account, and $1,736,138 in change in fair value of warrants, offset by $836,621 in formation and operating costs.