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Financial report summary
?Management Discussion
- We have neither engaged in any operations nor generated any revenues to date. Our only activities since inception have been organizational activities and those necessary to prepare for our IPO. Following our IPO, we will not generate any operating revenues until after completion of our initial business combination. We generate non-operating income in the form of interest income on cash and cash equivalents.
- For the year ended December 31, 2023, we had a net loss of $4,414,640 which consisted of a $6,229,750 loss on the change in fair value of warrant liabilities, $9,306,623 in formation and operating costs, and a loss on exchange rate of $17,539, offset by $11,139,272 in interest income on Investments held in Trust Account.
- For the year ended December 31, 2022, we had net income of $26,966,513 which was comprised of a $24,286,750 gain from change in warrant liability, a $9,239 gain on foreign exchange, and $5,075,756 in interest earned on Investments held in trust account offset by $2,405,232 in formation and operating expense.