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New words:
Answer, Article, asserted, BCA, Chancery, clause, consulting, contract, damage, declaratory, defend, dispute, footnote, forma, inflow, invalidate, lawfully, matter, merit, monetary, November, omitted, Ritesh, smaller, suit, trial, ultimate, Verified, vigorously
Removed:
advisor, final
Financial report summary
?Management Discussion
- We have neither engaged in any operations nor generated any revenues to date. Our only activities since inception have been organizational activities and those necessary to prepare for our initial public offering and business combination. We will not be generating any operating revenues until the closing and completion of our initial business combination.
- For the three-month period ended June 30, 2023, we had net loss of $577,758, which consisted of $239,005 non-operating income resulting from the change in fair value of warrant derivative liabilities, $167,724 non-operating income resulting from the change in fair value of forward purchase agreement and $871,211 interest income generated from the investments held in the trust account. These other incomes are offset by $1,667,031 in general and administrative expenses, $16,212 interest expense, and $172,455 income tax expense.
- For the six-month period ended June 30, 2023, we had net income of $114,768, which consisted of $551,513 non-operating income resulting from the change in fair value of warrant derivative liabilities, $162,280 non-operating income resulting from the change in fair value of forward purchase agreement and $2,140,337 interest income generated from the investments held in the trust account. These other incomes are offset by $2,283,771 in general and administrative expenses, $27,120 interest expense, and $428,471 income tax expense.