Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
Coll. sophomore V bad
|
New words:
Acommon, expirefive, Forfe, forno, implementation, measurementof, ofMarch, onNovember, pershare, RedemptionLimitation, sharesof, thee, wereno, withdrawn
Financial report summary
?Management Discussion
- Our entire activity since inception up to June 30, 2023 related to our formation, the preparation for the initial public offering, and since the closing of the initial public offering, the search for a prospective initial business combination. We will not be generating any operating revenues until the closing and completion of our initial business combination, at the earliest.
- For the three months ended June 30, 2023, we had net income of approximately $2.9 million, which consisted of approximately $1.8 million in interest income from investments held in the trust account and non-operating income of approximately $2.1 million resulting from changes in fair value of derivative warrant liabilities, partially offset by approximately $514,000 in general and administrative expenses, approximately $50,000 in franchise tax expense, $30,000 general and administrative expenses—related party and approximately $369,000 in income tax expense.
- For the three months ended June 30, 2022, we had a net income of approximately $6.4 million, which consisted of approximately $211,000 in interest income from investments held in the trust account, non-operating income of approximately $6.6 million resulting from changes in fair value of derivative warrant liabilities, partially offset by approximately $306,000 in general and administrative expenses, approximately $50,000 in franchise tax expense, $30,000 general and administrative expenses—related party and approximately $13,000 in income tax benefit.