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Financial report summary
?Management Discussion
- Our entire activity from inception up to December 31, 2023, was in preparation for our formation and the preparation of our Initial Public Offering. We will not be generating any operating revenues until the closing and completion of our initial Business Combination, at the earliest.
- For the year ended December 31, 2023, we had net income of $14,532,479, which consisted of the related party administrative fee of $120,000, general and administrative expenses of $735,342 and interest expense of $24,969 offset by $1,046,000 for the change in derivative liabilities and income earned on marketable securities held in the Trust Account and interest earned on the Trust Account of $14,366,790.
- For the year ended December 31, 2022, we had net income of $14,816,639, which consisted of the related party administrative fee of $120,000 and general and administrative expenses of $796,353 offset by $10,595,500 for the change in derivative liabilities and income earned on marketable securities held in the Trust Account of $5,137,492.