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April, catastrophic, China, coupled, diminished, export, extreme, foreign, formation, health, higher, inflation, macroeconomic, member, omitted, political, Reserve, resignation, resigned, social, spending, stability
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propose
Financial report summary
?Management Discussion
- Our entire activity from inception through Initial Public Offering was in preparation for our formation and the Initial Public Offering and since our Initial Public Offering, our entire activity has been limited to the search for a prospective initial business combination, and we will not be generating any operating revenues until the closing and completion of our initial business combination. We expect to continue to 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 a net loss of approximately $211,000, which consisted of approximately $239,000 in general and administrative expenses, approximately $42,000 in general and administrative expenses - related party, $50,000 in franchise tax expense, offset by approximately $109,000 in interest income from investments held in the trust account and approximately $11,000 in income tax benefit.
- For the three months ended June 30, 2021, we had a net loss of approximately $210,000, which consisted of approximately $164,000 in general and administrative expenses and approximately $49,000 in franchise tax expense, offset by approximately $3,000 in interest income from investments held in the trust account.