Content analysis
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Legalese | ||
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New words:
consumamation, delete, monthly, October, pending, retain, terminated, thirty, twelve, Warrantholder
Removed:
advance, alternate, deliver, largest, proceed, recording, reflect, retroactively, seller
Financial report summary
?Management Discussion
- We have neither engaged in any significant business operations nor generated any revenues to date. All activities to date relate to the Company’s formation and its Public Offering and search for a suitable Business Combination. We generate non-operating income in the form of interest income on cash held in the Trust Account. We 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 as we locate a suitable Business Combination.
- For the three months ended September 30, 2023 and 2022, we had net income of $218,294 and net income of $5,467,610, respectively. Net income for the three months ended September 30, 2023 included $304,505 of general and administrative costs related to on-going expenses as we search for a Business Combination and $60,000 in management fees, offset by a gain of $416,666 in the change in fair value of the warrant liability, $161,768 in earnings on the Trust Account assets and income tax benefit of $4,365. Net income for the three months ended September 30, 2022, related to $320,650 of general and administrative costs for on-going expenses as we search for a Business Combination and $60,000 in management fees, offset by a gain of $3,541,667 in the change in the fair value of the warrant liability, $2,592,257 in earnings on the Trust Account assets and income tax provision of $285,664.