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Financial report summary
?Management Discussion
- We have neither engaged in any operations nor generated any revenues to date. Our only activities through June 30, 2022 were organizational activities, those necessary to prepare for the Initial Public Offering, described below. 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 (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.
- For the three months ended June 30, 2022, we had net income of $1,716,467, which is comprised of expenses of $350,052 offset by interest earned on investments in the Trust Account of $296,519 and the change in fair value of derivative liabilities of $1,770,000.
- For the six months ended June 30, 2022, we had net income of $6,353,513, which is comprised of expenses of $644,317 offset by interest earned on investments in the Trust Account of $317,330 and the change in fair value of derivative liabilities of $6,680,500. For the period from March 2, 2021 (inception) through June 30, 2021, we had a net loss of $4,241 which was comprised of operating and formation expenses.