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owed, reliance
Financial report summary
?Management Discussion
- As of September 30, 2023, we have neither engaged in any operations nor generated any revenues. All activity for the period from April 5, 2021 (inception) through September 30, 2023 relates to our formation and the initial public offering. We will not generate any operating revenues until after the completion of our initial business combination, at the earliest. We have generated and will continue to 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 three months ended September 30, 2023, we had a net loss of $415,420, which resulted from formation and operating costs of $804,083 offset by gain from investments held in the trust account of $478,474, and income tax expense of $89,811.
- For the nine months ended September 30, 2023, we had net income of $830,673, which resulted from gain from investments held in the trust account of $4,137,173 offset by formation and operating costs of $2,484,680 and income tax expense of $821,820.