Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
Coll freshman Avg
|
Financial report summary
?Management Discussion
- We have neither engaged in any operations (other than searching for a business combination after our IPO) nor generated any revenues to date. Our only activities through December 31, 2022 were organizational activities and those necessary to prepare for the IPO. We do not expect to generate any operating revenues until after the completion of our business combination. We expect to generate non-operating income in the form of interest income on marketable securities held after the IPO. We incur 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 year ended December 31, 2022, we had a loss from operations of $1,802,250, which consisted of $1,617,542 in general and administrative expenses, and $184,708 in franchise tax expenses, offset by $8,256,815 in gain on marketable securities (net), dividends and interest, held in the trust account and a $6,250,000 change in Class K founder shares derivative liabilities, income tax expense of $1,695,142 resulting in a net income of $11,009,423.
- For the period from January 29, 2021 (inception) through December 31, 2021, we had a loss from operations of $1,283,381, which consisted of $25,000 in formation costs, $1,058,381 in general and administrative expenses, and $200,000 in franchise tax expenses. We also incurred $47,887,500 in financing expenses on derivative classified instruments, offset by $27,896 in gain on marketable securities (net), dividends and interest, held in the trust account and a $41,650,000 change in Class K founder shares derivative liabilities, resulting in a net loss of $7,492,985.