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New words:
Ancillary, armed, attractive, catastrophic, chain, China, Chinese, civil, confidence, conflict, contact, East, European, export, geopolitical, harm, health, human, import, instability, invasion, Israel, led, lower, Middle, militant, monetary, policy, political, recession, region, regional, Russia, spending, supply, technology, terrorist, tighter, unemployment, Union, unrest
Removed:
Charter, extend, merge, renamed, surviving
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 identifying a target company for a Business Combination. 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 $1,760,000, which consisted of approximately $174,000 of income from investments held in the Trust Account and a non-operating gain of approximately $2 million resulting from the change in fair value of derivative warrant liabilities, offset by approximately $29,000 in income tax expenses, interest expense on working capital loan of approximately $18,000, and an operating loss of approximately $415,000. The loss from operations comprised of approximately $399,000 general and administrative expenses and approximately $16,000 in franchise tax expenses.
- For the three months ended September 30, 2022, we had net loss of approximately $1,541,000, which consisted of approximately $382,000 in income tax expenses, interest expense on working capital loan of approximately $16,000, and an operating loss of approximately $1,541,000. The loss from operations comprised of approximately $1,491,000 general and administrative expenses and approximately $50,000 in franchise tax expenses, which was offset by a non-operating loss of $1,170,000 resulting from the change in fair value of derivative warrant liabilities, and approximately $1,567,000 of income from investments held in Trust Account.