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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. Our only activities since inception through September 30, 2022 have been organizational activities and those necessary to prepare for the Initial Public Offering. We do not expect to generate any operating revenues until after completion of our initial Business Combination. We generate non-operating income in the form of interest income on marketable securities held in the Trust Account. We are incurring increased expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses.
- For the three and nine months ended September 30, 2022, we had net income and a net loss of $115,901 and $1,525,961, respectively, consisting of general and administrative expenses of $720,843 and $2,576,847, respectively, and unrealized gains on investments in Trust of $836,744 and $1,050,886, respectively.