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Financial report summary
?Management Discussion
- Our entire activity since inception up to September 30, 2023 was in preparation for our formation and the Initial Public Offering, and since the closing of the Initial Public Offering, the search for business combination candidates. We will not be generating any operating revenues until the closing and completion of our initial business combination.
- For the three months ended September 30, 2023, we had net income of approximately $136,000, which consisted of approximately $389,000 of net gain on the cash and investments held in the Trust Account, partially offset by approximately $224,000 general and administrative expenses and $30,000 in related party general and administrative expenses.
- For the three months ended September 30, 2022, we had net income of approximately $1.8 million, which consisted of a gain of approximately $802,000 in change in the fair value of warrant liabilities and approximately $1.2 million of net gain on the investments held in the Trust Account, partially offset by approximately $214,000 general and administrative expenses and $30,000 in related party general and administrative expenses.