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New words:
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comprised, portfolio, resulting, thereof
Financial report summary
?Management Discussion
- Our entire activity since inception, was in preparation for our formation and the Initial Public Offering, and, subsequent to the Initial Public Offering up to September 30, 2022, identifying a target company for a 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 September 30, 2022, we had net income of approximately $2.7 million, which consisted of an approximately $1.8 million gain in change of fair value of derivative warrant liabilities and income from investments held in the Trust account of approximately $1.4, which was partially offset by approximately $159,000 of general and administrative expenses, approximately $50,000 of franchise tax expenses, and approximately $274,000 of income tax expenses.
- For the three months ended September 30, 2021, we had net income of approximately $3.7 million which consisted of an approximately $4.0 million gain from the change in fair value of derivative warrant liabilities and income from investments held in the Trust Account of approximately $4,000, partially offset by approximately $199,000 in general and administrative expense, and approximately $50,000 of franchise taxes.