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Financial report summary
?Management Discussion
- Our entire activity from inception up to December 31, 2023, was for our formation and preparation for our IPO, and subsequent to the IPO, identifying a target company for a business combination. We will not generate 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 approximately $0.3 million, which consisted of the income from investments held in the Trust Account and operating account of approximately $5.8 million, offset by general and administrative expenses of approximately $1 million, franchise tax expense of approximately $0.2 million, change in fair value of derivative liability of approximately $3.1 million, and income tax expense of approximately $1.2 million.
- For the year ended December 31, 2022, we had net income of approximately $2.4 million, which consisted of the income from investments held in the Trust Account and operating account of approximately $4.4 million, offset by general and administrative expenses of approximately $0.9 million, franchise tax expense of approximately $0.2 million, and income tax expense of approximately $0.9 million.