Content analysis
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Legalese | ||
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H.S. senior Bad
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New words:
counsel, deducting, eliminated, er, external, facilitating, greater, intercompany, multiplied, onForm, rounded, sharesat, Subtopic
Removed:
approximate, complex, enhance, enhanced, evaluate, implemented, literature, remediation, research, understand
Financial report summary
?Management Discussion
- We have neither engaged in any operations nor generated any revenues to date. Our only activities through September 30, 2022 were organizational activities, those necessary to prepare for the Initial Public Offering, described below, and identifying a target company for a Business Combination. We do not expect to generate any operating revenues until after the completion of our Business Combination. We generate non-operating income in the form of interest income on investments 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 for due diligence expenses.
- For the three months ended September 30, 2022, we had a net loss of $6,263,057, which consists of operating and formation costs of $3,191,243, a change in fair value of warrant liabilities of $4,797,000, a change in fair value of convertible note of $72,900, offset by interest income on investments held in the Trust Account of $1,798,086.
- For the nine months ended September 30, 2022, we had a net income of $3,834,467, which consists of the change in fair value of warrant liabilities of $7,456,670, change in fair value of convertible note of $130,900, interest income on investments held in the Trust Account of $2,060,045, offset by operating and formation costs of $5,813,148.