Content analysis
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Legalese | ||
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Coll. sophomore V bad
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New words:
abuse, advance, avoidance, content, Department, depend, domestic, excise, extension, hand, imposed, Inflation, IR, November, PIPE, prevent, reduction, repurchase, repurchased, repurchasing, termination
Removed:
communication, complex, consult, enhance, enhanced, evaluated, identified, increased, literature, NaN, personnel, research, understand
Financial report summary
?Management Discussion
- Our entire activity since inception up to September 30, 2022 was in preparation for our formation and the Initial Public Offering. 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, 2022, we had net income of approximately $1.0 million, which consisted of approximately $356,000 of non-operating gain resulting from the change in fair value of derivative warrant liabilities, approximately $1.1 million of income from investments held in trust account, offset by approximately $216,000 in income tax expense, approximately $142,000 in general and administrative expenses, $15,000 in general and administrative expenses – related party, and franchise tax expense of approximately $50,000.
- For the three months ended September 30, 2021, we had net income of approximately $4.5 million, which consisted of approximately $4.6 million of non-operating gain resulting from the change in fair value of derivative warrant liabilities and approximately $7,000 of income from investments held in trust account, partially offset by approximately $84,000 in general and administrative expenses and franchise tax expense of approximately $50,000.