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Financial report summary
?Management Discussion
- We have neither engaged in any operations nor generated any revenues to date. Our activities during the three months ended March 31, 2024 involved mainly searching for a target for an initial business combination. There has been no significant change in our financial or trading position and no material adverse change has occurred since the date of our audited financial statements. After the IPO, we incur increased expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for expenses associated with the search for target opportunities.
- For the three months ended March 31, 2024, we had a net income of $611,220, which comprised of income earned on investments held in Trust Account of $910,425, partially offset by operating costs of 299,205.
- For the three months ended March 31, 2023, we had a net loss of $50,701, which comprised of formation costs and operating costs.