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Financial report summary
?Management Discussion
- As of September 30, 2022, we have neither engaged in any operations nor generated any revenues. All activity for the year ended September 30, 2022 relates to our formation, the initial public offering and our search for a target business with which to consummate a business combination and in relation thereto, entering into the Business Combination Agreement. We will not generate any operating revenues until after the completion of our initial business combination, at the earliest. We will generate non-operating income in the form of interest income on cash and cash equivalents from the proceeds derived from the initial public offering.
- For the year ended September 30, 2022, we had a net loss of $2,995,719, which was resulted from formation and operating costs amounting to $3,713,311, partially offset by the interest income amounting to $673,042 and change in fair value of over-allotment units amounting to $44,550.
- For the Period from February 23, 2021 (inception) through September 30,2021, we had a net loss of $14,946, which was resulted from formation and operating costs.