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Bulletin, Companyof, enable, fourth, pershare, throughoutthe, toextend, underwritersa, withinany
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Article, exist
Financial report summary
?Management Discussion
- Our entire activity from inception through June 30, 2023, related to our formation, the preparation for the Initial Public Offering, and since the closing of the Initial Public Offering, the search for a prospective initial Business Combination. We have neither engaged in any operations nor generated any revenues to date. We will not generate any operating revenues until after completion of our initial Business Combination. We generated non-operating income in the form of investment income from the investments held in the Trust Account following the closing of the Initial Public Offering.
- For the three months ended June 30, 2023, we had a net income of approximately $18,000, which consisted of approximately $444,000 in interest income from cash held in the Trust account, offset by approximately $396,000 in general and administrative expenses and $30,000 in administrative expenses—related party.
- For the three months ended June 30, 2022, we had a net income of approximately $3.3 million, which consisted of a non-operating gain of approximately $3.0 million from the changes in fair value of derivative warrant liabilities and approximately $430,000 in interest income from investments held in the Trust Account, partially offset by approximately $82,000 in general and administrative expenses and $30,000 in administrative expenses—related party.