Content analysis
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New words:
abuse, avoidance, belief, competitive, declining, Department, domestic, excise, foreign, inability, Inflation, IR, iv, jurisdiction, landscape, preliminary, prevent, publicly, rate, reach, Reduction, repurchase, repurchased, repurchasing, salient, scale, shorter, statutory, suitable, traditional, vi, volatile, waiting
Removed:
consideration, corporate, entertainment, evaluate, mobile, negotiate, negotiating, perform, pursue, social, structure, travel
Financial report summary
?Management Discussion
- For the three months ended September 30, 2022, we had net income of $1.1 million consisting of approximately $0.6 million gain on the change in fair value of warrant liability and $1.0 million unrealized gain on marketable securities held in the Trust Account, partially offset by approximately $0.2 million in general and administrative expenses and a $0.3 million provision for income taxes. For the three months ended September 30, 2021, we had net income of $1.1 million consisting of approximately $1.8 million gain on the change in fair value of warrant liability and $0.7 million of general and administrative expenses.
- For the nine months ended September 30, 2022, we had net income of $7.8 million consisting of approximately $7.8 million gain on the change in fair value of warrant liability and $1.3 million unrealized gain on marketable securities held in the Trust Account, partially offset by approximately $0.9 million in general and administrative expenses and a $0.3 million provision for income taxes. For the nine months ended September 30, 2021, we had net loss of $1.5 million consisting of approximately $0.1 million loss on the change in fair value of warrant liability and $1.4 million of general and administrative expenses.
- Our business activities during the three and nine months ended September 30, 2022 consisted primarily of identifying and evaluating prospective acquisition candidates for a Business Combination. We believe that we have access to additional funds from the Sponsor that, together with cash held outside the Trust Account (as defined below), are sufficient to meet our liquidity needs until January 28, 2023 or an earlier deadline to consummate an initial Business Combination as may be reflected in an amendment to our amended and restated certificate of incorporation (an “Accelerated Termination Date”), as applicable. Additionally, we have raised $750,000 of additional cash through the Working Capital Loan (as defined below). However, if our estimates of our costs are less than the actual amounts incurred, we may have insufficient funds available to operate our business prior to January 28, 2023 or an Accelerated Termination Date, as applicable. There is no assurance that our plans to raise additional funds will be successful.