Fintech Ecosystem Development (FEXD) 10-Q 15 Aug 23 2023 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2023	Aug. 15, 2023
Document Information Line Items
Entity Registrant Name	FINTECH ECOSYSTEM DEVELOPMENT CORP.
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Entity Central Index Key	0001852407
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Jun. 30, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Shell Company	false
Entity Ex Transition Period	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-40914
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	86-2438985
Entity Address, Address Line One	100 Springhouse Drive
Entity Address, Address Line Two	Suite 204
Entity Address, City or Town	Collegeville
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19426
City Area Code	(610)
Local Phone Number	226-8101
Entity Interactive Data Current	Yes
Units, each consisting of one share of Class A common stock, one right and one-half of one redeemable warrant
Document Information Line Items
Trading Symbol	FEXDU
Title of 12(b) Security	Units, each consisting of one share of Class A common stock, one right and one-half of one redeemable warrant
Security Exchange Name	NASDAQ
Class A common stock, par value $0.0001 per share
Document Information Line Items
Trading Symbol	FEXD
Title of 12(b) Security	Class A common stock, par value $0.0001 per share
Security Exchange Name	NASDAQ
Redeemable warrants, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50 per share
Document Information Line Items
Trading Symbol	FEXDW
Title of 12(b) Security	Redeemable warrants, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50 per share
Security Exchange Name	NASDAQ
Rights included as part of the units
Document Information Line Items
Trading Symbol	FEXDR
Title of 12(b) Security	Rights included as part of the units
Security Exchange Name	NASDAQ
Class A Common Stock
Document Information Line Items
Entity Common Stock, Shares Outstanding		4,029,503
Class B Common Stock
Document Information Line Items
Entity Common Stock, Shares Outstanding		2,875,000

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Current Assets:
Cash	$ 1,025	$ 10,335
Prepaid expenses	39,854	38,951
Total Current Assets	40,879	49,286
Investments held in trust account	42,583,196	118,985,048
Total Assets	42,624,075	119,034,334
Current Liabilities:
Accounts payable and accrued liabilities	1,569,744	990,605
Income tax payable	718,813	290,342
Excise tax payable	789,396
Promissory notes and working capital loans from related parties	706,957	519,957
Accrued interest – related parties	1,918	7,545
Total Current Liabilities	3,786,828	1,808,449
Long Term Liabilities:
Derivative forward purchase liability	123,287	285,567
Derivative warrant liability	239,005	756,018
Deferred underwriter fee payable	3,737,500	3,737,500
Total Liabilities	7,886,620	6,587,534
Commitments and Contingencies (Note 6)
Class A common stock subject to redemption; 3,972,003 shares and 11,500,000 shares at redemption value of $10.46 and $10.29 per share at June 30, 2023 and December 31, 2022, respectively	41,557,941	118,392,240
Stockholders’ Deficit:
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding
Class A common stock, $0.0001 par value; 200,000,000 shares authorized; 57,500 representative shares issued and outstanding (excludes 3,972,003 shares and 11,500,000 shares, subject to redemption at June 30, 2023 and December 31, 2022, respectively)	6	6
Class B Common Stock, par value $0.0001; 20,000,000 shares authorized; 2,875,000 issued and outstanding	288	288
Additional paid-in capital
Accumulated deficit	(6,820,780)	(5,945,734)
Total Stockholders’ Deficit	(6,820,486)	(5,945,440)
Total Liabilities, Common Stock Subject to Possible Redemption and Stockholders’ Deficit	$ 42,624,075	$ 119,034,334

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Subject to redemption per share (in Dollars per share)	$ 10.46	$ 10.29
Preferred stock, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Class A Common Stock
Subject to redemption shares at redemption value	3,972,003	11,500,000
Subject to redemption per share (in Dollars per share)	$ 10.1
Common stock, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	57,500	57,500
Common stock, shares outstanding	57,500	57,500
Class B Common Stock
Common stock, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	20,000,000	20,000,000
Common stock, shares issued	2,875,000	2,875,000
Common stock, shares outstanding	2,875,000	2,875,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Operating expenses:
Formation and operating expenses	$ 1,667,031	$ 324,041	$ 2,283,771	$ 529,984
Total operating expenses	1,667,031	324,041	2,283,771	529,984
Other income (expense)
Interest expense	(16,212)		(27,120)
Income from investments held in trust account	871,211	156,845	2,140,337	168,541
Change in fair value of derivative forward purchase liability	167,724	110,823	162,280	(50,208)
Change in fair value of derivative warrant liabilities	239,005	876,323	551,513	2,585,063
Total other income (expense), net	1,261,728	1,143,991	2,827,010	2,703,396
(Loss) income before income taxes	(405,303)	819,950	543,239	2,173,412
Income tax expense	172,455		428,471
Net (loss) income	$ (577,758)	$ 819,950	$ 114,768	$ 2,173,412
Class A common stock
Net (loss) income per common share
Basic, earnings per common share (in Dollars per share)	$ (0.06)	$ 0.06	$ 0.01	$ 0.15
Diluted, earnings per common share (in Dollars per share)	$ (0.06)	$ 0.06	$ 0.01	$ 0.15
Weighted average common shares outstanding
Weighted average common shares outstanding, basic (in Shares)	6,759,436	11,557,500	9,145,214	11,557,500
Weighted average common shares outstanding, diluted (in Shares)	6,759,436	11,557,500	9,145,214	11,557,500
Class B common stock
Net (loss) income per common share
Basic, earnings per common share (in Dollars per share)	$ (0.06)	$ 0.06	$ 0.01	$ 0.15
Diluted, earnings per common share (in Dollars per share)	$ (0.06)	$ 0.06	$ 0.01	$ 0.15
Weighted average common shares outstanding
Weighted average common shares outstanding, basic (in Shares)	2,875,000	2,875,000	2,875,000	2,875,000
Weighted average common shares outstanding, diluted (in Shares)	2,875,000	2,875,000	2,875,000	2,875,000

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Stockholders’ Deficit (Unaudited) - USD ($)	Class A Common Stock	Class B Common Stock	Additional Paid-in Capital	Accumulated Deficit	Total
Balance at Dec. 31, 2021	$ 6	$ 288		$ (8,610,118)	$ (8,609,824)
Balance (in Shares) at Dec. 31, 2021	57,500	2,875,000
Net income (loss)				1,353,462	1,353,462
Balance at Mar. 31, 2022	$ 6	$ 288		(7,256,656)	(7,256,362)
Balance (in Shares) at Mar. 31, 2022	57,500	2,875,000
Balance at Dec. 31, 2021	$ 6	$ 288		(8,610,118)	(8,609,824)
Balance (in Shares) at Dec. 31, 2021	57,500	2,875,000
Net income (loss)					2,173,412
Balance at Jun. 30, 2022	$ 6	$ 288		(6,436,706)	(6,436,412)
Balance (in Shares) at Jun. 30, 2022	57,500	2,875,000
Balance at Mar. 31, 2022	$ 6	$ 288		(7,256,656)	(7,256,362)
Balance (in Shares) at Mar. 31, 2022	57,500	2,875,000
Net income (loss)				819,950	819,950
Balance at Jun. 30, 2022	$ 6	$ 288		(6,436,706)	(6,436,412)
Balance (in Shares) at Jun. 30, 2022	57,500	2,875,000
Balance at Dec. 31, 2022	$ 6	$ 288		(5,945,734)	(5,945,440)
Balance (in Shares) at Dec. 31, 2022	57,500	2,875,000
Net income (loss)				692,526	692,526
Remeasurement of Class A common stock subject to possible redemption			(1,115,500)	(1,126,705)	(2,242,205)
Sale of Private Placement Warrants			1,115,500		1,115,500
Balance at Mar. 31, 2023	$ 6	$ 288		(6,379,913)	(6,379,619)
Balance (in Shares) at Mar. 31, 2023	57,500	2,875,000
Balance at Dec. 31, 2022	$ 6	$ 288		(5,945,734)	(5,945,440)
Balance (in Shares) at Dec. 31, 2022	57,500	2,875,000
Net income (loss)					114,768
Balance at Jun. 30, 2023	$ 6	$ 288		(6,820,780)	(6,820,486)
Balance (in Shares) at Jun. 30, 2023	57,500	2,875,000
Balance at Mar. 31, 2023	$ 6	$ 288		(6,379,913)	(6,379,619)
Balance (in Shares) at Mar. 31, 2023	57,500	2,875,000
Net income (loss)				(577,758)	(577,758)
Remeasurement of Class A common stock subject to possible redemption				136,891	136,891
Balance at Jun. 30, 2023	$ 6	$ 288		$ (6,820,780)	$ (6,820,486)
Balance (in Shares) at Jun. 30, 2023	57,500	2,875,000

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net income		$ 114,768	$ 2,173,412
Adjustments to reconcile net income to net cash used in operating activities:
Change in fair value of warrant liabilities		(551,513)	(2,585,063)
Change in fair value of derivative forward purchase liability		(162,280)	50,208
Income from investments held in trust account		(2,140,337)	(168,541)
Prepaid expenses		(903)	26,693
Accounts payable and accrued liabilities		579,139	(110,943)
Related party accrued interest		(5,627)
Income tax payable		428,471
Excise tax payable		789,396
Net cash used in operating activities		(948,886)	(614,234)
CASH FLOWS FROM INVESTING ACTIVITIES
Cash withdrawal from trust account for redemption of Class A common stock		78,939,613
Cash deposited in trust account		(1,480,000)
Net cash provided by investing activities		77,459,613
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of warrants to Sponsor		1,150,000
Proceeds from working capital loans and promissory note from related parties*	[1]	437,000	20,000
Repayment of promissory notes		(250,000)
Cash distributed to investors for redemption of Class A common stock		(78,939,613)
Proceeds from sale of investments in trust account		1,082,576
Net cash (used in) provided by financing activities		(76,520,037)	20,000
NET DECREASE IN CASH		(9,310)	(594,234)
CASH, BEGINNING OF PERIOD		10,335	612,750
CASH, END OF PERIOD		1,025	18,516
Non-cash - investing and financing activities
Share issuance obligation		45,000
Remeasurement of Class A common stock subject to possible redemption		$ (136,891)
[1] Due to related party cash inflow of $20,000 presented in operating activities for the six months ended June 30, 2022 has been reclassified to financing activities to conform with the current year’s presentation.

Description of Organization and

Description of Organization and Business Operations and Going Concern	6 Months Ended
	Jun. 30, 2023
Description of Organization and Business Operations and Going Concern [Abstract]
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS AND GOING CONCERN	NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS AND GOING CONCERN Fintech Ecosystem Development Corp. (the “Company” or “FEXD”) is a blank check company incorporated in the State of Delaware on March 5, 2021. The Company was formed for the purpose of acquiring, merging with, engaging in capital stock exchange with, purchasing all or substantially all of the assets of, engaging in contractual arrangements, or engaging in any other similar business combination with a single operating entity, or one or more related or unrelated operating entities operating in any sector (“Business Combination”). Although the Company is not limited to a particular industry or geographic region for purposes of consummating a Business Combination, the Company intends to focus on companies in the financial technology development industry. On June 30, 2023, the Company had not yet commenced any operations. All activity through June 30, 2023, relates to the Company’s formation, general operating expenses, the search for a target business with which to consummate an initial business combination and the Initial Public Offering (the “Initial Public Offering” or “IPO”) as described below. The Company will not generate any operating revenues until after the completion of its initial Business Combination, at the earliest. The Company 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. The Company has selected December 31 as its fiscal year-end. The Company is an early stage and emerging growth company, and, as such, the Company is subject to all of the risks associated with early-stage and emerging growth companies. The Company’s sponsor is Revofast LLC, a Wyoming limited liability company (the “Sponsor”). The registration statement for the Company’s Initial Public Offering was declared effective on October 18, 2021. On October 21, 2021, the Company consummated its Initial Public Offering of 11,500,000 units (the “Units” and, with respect to the Class A common stock included in the Units being offered, the “Public Shares”), at $10.00 per Unit, generating gross proceeds of $115,000,000, and incurring offering costs of $6,061,368, of which $3,737,500 was for deferred underwriting commissions (see Note 6). In addition, the Company granted the underwriter a 45-day option to purchase an additional 1,500,000 Units at the Initial Public Offering price to cover over-allotments, if any. Simultaneous with the close of the Initial Public Offering, the over- allotment option was exercised in full. Simultaneously with the closing of the Initial Public Offering, the Company consummated the private placement of an aggregate of 3,900,250 warrants (the “Private Placement Warrants”) to the Sponsor, for $1.00 per Private Placement Warrant, generating total gross proceeds of $3,900,250 (the “Private Placement”) (see Note 4). Following the closing of the Initial Public Offering on October 21, 2021, an amount of $116,150,000 ($10.10 per Unit) from the net proceeds of the sale of the Units in the Initial Public Offering and sale of the Private Placement Warrants was placed in a trust account (the “Trust Account”), located in the United States and held as cash items or invested only in U.S. government securities within the meaning set forth in Section 2(a)(16) of the Investment Company Act of 1940, as amended (the “Investment Company Act”), with a maturity of 185 days or less, or in any open-ended investment company that holds itself out as a money market fund meeting the conditions of paragraph (d) of Rule 2a-7 of the Investment Company Act, as determined by the Company, until the earlier of: (i) the consummation of a Business Combination or (ii) the distribution of the funds in the Trust Account to the Company’s Stockholders, as described below. The Company will provide its public stockholders with the opportunity to redeem all or a portion of their Class A Common Shares upon the completion of a Business Combination either (i) in connection with a stockholder meeting called to approve the Business Combination or (ii) by means of a tender offer. In connection with a proposed Business Combination, the Company may seek stockholder approval of a Business Combination at a meeting called for such purpose at which public stockholders may seek to redeem their shares, regardless of whether they vote for or against a Business Combination. The Company will proceed with a Business Combination only if the Company has net tangible assets of at least $5,000,001 upon such consummation of a Business Combination and, if the Company seeks stockholder approval, a majority of the outstanding shares voted are voted in favor of the Business Combination. If the Company seeks stockholder approval of a Business Combination and it does not conduct redemptions pursuant to the tender offer rules, the Company’s Amended and Restated Certificate of Incorporation provides that a stockholder, together with any affiliate of such stockholder or any other person with whom such stockholder is acting in concert or as a “group” (as defined under Section 13 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), will be restricted from seeking redemption rights with respect to 15% or more of the Class A Common Shares without the Company’s prior written consent. The public stockholders will be entitled to redeem their Class A Common Shares for a pro rata portion of the amount then in the Trust Account (initially $10.10 per share, plus any pro rata interest earned on the funds held in the Trust Account and not previously released to the Company to pay its tax obligations). The per-share amount to be distributed to public stockholders who redeem their Class A Common Shares will not be reduced by the deferred underwriting commissions the Company will pay to the underwriter. There will be no redemption rights upon the completion of a Business Combination with respect to the Company’s warrants or rights. All of the Public Shares contain a redemption feature which allows for the redemption of such Public Shares in connection with our liquidation, if there is a stockholder vote or tender offer in connection with our initial business combination and in connection with certain amendments to our amended and restated certificate of incorporation. In accordance with SEC and its guidance on redeemable equity instruments, which has been codified in ASC Topic 480 “Distinguishing Liabilities from Equity” (“ASC 480”), paragraph 10-S99, redemption provisions not solely within the control of a company require common stock subject to redemption to be classified outside of permanent equity. Given that the Public Shares will be issued with other freestanding instruments (i.e., public warrants), the initial carrying value of Class A common stock classified as temporary equity will be the allocated proceeds determined in accordance with ASC Topic 470 “Debt” (“ASC 470”). The Class A common stock is subject to ASC 480-10-S99. If it is probable that the equity instrument will become redeemable, we have the option to either (i) accrete changes in the redemption value over the period from the date of issuance (or from the date that it becomes probable that the instrument will become redeemable, if later) to the earliest redemption date of the instrument or (ii) recognize changes in the redemption value immediately as they occur and adjust the carrying amount of the instrument to equal the redemption value at the end of each reporting period. We have elected to recognize the changes immediately. The accretion or remeasurement will be treated as a deemed dividend (i.e., a reduction to retained earnings, or in the absence of retained earnings, additional paid-in capital). While redemptions cannot cause the Company’s net tangible assets to fall below $5,000,001, the Public Shares are redeemable and will be classified as such on the balance sheet until such date that a redemption event takes place. If a stockholder vote is not required and the Company does not decide to hold a stockholder vote for business or other legal reasons, the Company will, pursuant to its Amended and Restated Certificate of Incorporation, offer such redemption pursuant to the tender offer rules of the Securities and Exchange Commission (“SEC”), and file tender offer documents containing substantially the same information as would be included in a proxy statement with the SEC prior to completing a Business Combination. The Sponsor has agreed (a) to vote its Class B Common Stock, the Class A Common Shares underlying the Private Placement Warrants and any Class A Common Shares purchased during or after the Initial Public Offering in favor of a Business Combination, (b) not to propose an amendment to the Company’s Amended and Restated Certificate of Incorporation with respect to the Company’s pre-Business Combination activities prior to the consummation of a Business Combination unless the Company provides dissenting public stockholders with the opportunity to redeem their Class A Common Shares in conjunction with any such amendment; (c) not to redeem any shares (including the Class B Common Stock) and into the right to receive cash from the Trust Account in connection with a stockholder vote to approve a Business Combination (or to sell any shares in a tender offer in connection with a Business Combination if the Company does not seek stockholder approval in connection therewith) or a vote to amend the provisions of the Amended and Restated Certificate of Incorporation relating to stockholders’ rights of pre-Business Combination activity and (d) that the Class B Common Stock and Private Placement Warrants (including underlying Class A Common Shares) shall not participate in any liquidating distributions upon winding up if a Business Combination is not consummated. However, the Sponsor will be entitled to liquidating distributions from the Trust Account with respect to any Class A Common Shares purchased during or after the Initial Public Offering if the Company fails to complete its Business Combination. The Company previously had 18 months until April 21, 2023, from the effective date of the registration statement to consummate a Business Combination (the “Combination Period”). On April 20, 2023, the Company held a special meeting of stockholders in lieu of its 2023 annual meeting. At the special meeting, the Company’s shareholders approved the extension proposal to amend the Company’s amended and restated certificate of incorporation to extend the date by which the Company has to consummate its initial business combination for a maximum of twelve (12) additional months, from April 21, 2023, to April 21, 2024, or such earlier date as determined by its board of directors (refer to Note 10). If the Company is unable to complete a Business Combination by April 21, 2024, the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but no more than five business days thereafter, redeem 100% of the outstanding Class A Common Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned (net of taxes payable and less interest to pay dissolution expenses up to $100,000), divided by the number of then outstanding Class A Common Shares, which redemption will completely extinguish public stockholders’ rights as stockholders (including the right to receive further liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the remaining stockholders and the Company’s board of directors, proceed to commence a voluntary liquidation and thereby a formal dissolution of the Company, subject in each case to its obligations to provide for claims of creditors and the requirements of applicable law. The underwriter has agreed to waive its rights to the deferred underwriting commission held in the Trust Account in the event the Company does not complete a Business Combination within the Combination Period and, in such event, such amounts will be included with the funds held in the Trust Account that will be available to fund the redemption of the Class A Common Shares. In the event of such distribution, it is possible that the per share value of the assets remaining available for distribution will be less than the Initial Public Offering price per Unit ($10.00). The Sponsor has agreed that it will be liable to the Company, if and to the extent any claims by a vendor for services rendered or products sold to the Company, or a prospective target business with which the Company has discussed entering into a transaction agreement, reduce the amounts in the Trust Account to below $10.10 per share (whether or not the underwriters’ over-allotment option is exercised in full), except as to any claims by a third party who executed a waiver of any and all rights to seek access to the Trust Account and except as to any claims under the Company’s indemnity of the underwriters of the Initial Public Offering against certain liabilities, including liabilities under the Securities Act of 1933, as amended (the “Securities Act”). In the event that an executed waiver is deemed to be unenforceable against a third party, the Sponsor will not be responsible to the extent of any liability for such third-party claims. The Company will seek to reduce the possibility that the Sponsor will have to indemnify the Trust Account due to claims of creditors by endeavoring to have all vendors, service providers (except for the Company’s independent registered accounting firm), prospective target businesses, or other entities with which the Company does business, execute agreements with the Company waiving any right, title, interest or claim of any kind in or to monies held in the Trust Account. Business Combinations and Extensions On September 9, 2022, the Company entered into two business combination agreements. Refer to Note 6. On October 21, 2022, the Company’s board of directors approved to extend the time by which the Company has to consummate a business combination from October 21, 2022 until January 21, 2023. On January 20, 2023, the Company’s board of directors further approved to extend the time by which the Company has to consummate a business combination from January 21, 2023 to April 21, 2023. On April 10, 2023, the Company sent a letter to Rana Financial, Inc. and David Kretzmer a letter notifying Rana Financial, Inc. of its failure to deliver audited financial statements pursuant to the business combination agreement dated September 9, 2022. The Company notified Rana of its intent to propose the termination of the agreement and abandonment of the contemplated business combination if the audited financial statements are not received by April 21, 2023. On May 12, 2023, the Company terminated the business combination agreement. On April 20, 2023, the Company held a special meeting of stockholders in lieu of its 2023 annual meeting. At the special meeting, the Company’s shareholders approved the extension proposal to consider and vote upon (a) a proposal to amend the Company’s amended and restated certificate of incorporation to extend the date by which the Company has to consummate its initial business combination for a maximum of twelve (12) additional one month periods, from April 21, 2023 to April 21, 2024, or such earlier date as determined by its board of directors. The Company or the Company’s Sponsor deposited $110,000 into the Company’s Trust Account during each of the months of April, May, June and July 2023 to extend the business combination date from April 21, 2023 to August 21, 2023. Liquidity and Capital Resources As of June 30, 2023, the Company had $1,025 in its operating bank account, $42,583,196 investments held in its trust account, and working capital deficit of approximately $3,745,949. The Company’s liquidity needs prior to the consummation of the Initial Public Offering were satisfied through the payment of $25,000 from the Sponsor to cover for certain offering costs on the Company’s behalf in exchange for issuance of Founder Shares (as defined in Note 5), and a loan from the Sponsor of approximately $141,768 under the Note (as defined in Note 5). The $141,768 loan was fully repaid as of December 31, 2021. Subsequent to the consummation of the Initial Public Offering, the Company’s liquidity has been satisfied through the net proceeds from the consummation of the Initial Public Offering and the Private Placement held outside of the Trust Account. In addition, in order to finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor, or certain of the Company’s officers and directors may, but are not obligated to, provide the Company Working Capital Loans (as defined in Note 5). As of June 30, 2023, there was a balance of $17,000 outstanding under Working Capital Loans. On January 20, 2023, the Company consummated the private placement of 1,150,000 warrants at a price of $1.00 per warrant generating total proceeds of $1,150,000 (refer to Note 4). On January 20, 2023, the Company entered into a $200,000 promissory note with its Sponsor (refer to Note 5). On April 24, 2023, the Company entered into a $110,000 promissory note with its Sponsor (refer to Note 5). On June 21, 2023, the Company entered into a $127,000 promissory note with its Sponsor (refer to Note 5). On July 18, 2023, the Company entered into a $120,000 promissory note with its Sponsor (refer to Note 10). Based on the foregoing, management does not believe that the Company will have sufficient working capital to meet its needs through the earlier of the consummation of a Business Combination or one year from this filing. Over this time period, the Company will be using the funds held outside of the Trust Account for paying existing accounts payable and accrued liabilities, identifying and evaluating prospective initial Business Combination candidates, performing due diligence on prospective target businesses, paying for travel expenditures, selecting the target business to merge with or acquire, and structuring, negotiating and consummating the Business Combination. In addition, the Company, Company’s Sponsor or its designees will deposit $110,000 into the Company’s trust accounts upon the request of the Company in order to extend the liquidation date on a monthly basis until April 21, 2024. The Company believes it may need to raise additional funds in order to meet the expenditures required for operating the business. Furthermore, if the Company’s estimate of the costs of identifying a target business, undertaking in-depth due diligence and negotiating an Initial Business Combination are less than the actual amount necessary to do so, the Company may have insufficient funds available to operate the business prior to the Initial Business Combination. Moreover, the Company may need to obtain additional financing either to complete the Initial Business Combination or to redeem a significant number of our public shares upon completion of the Initial Business Combination, in which case the Company may issue additional securities or incur debt in connection with such Initial Business Combination. The Company’s Sponsor, officers and directors may, but are not obligated to, loan the Company funds from time to time or at any time, in whatever amount they deem reasonable in their sole discretion, to meet the Company’s working capital needs. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. The condensed consolidated financial statements do not include any adjustments that might result from the Company’s inability to continue as a going concern. In connection with the Company’s assessment of going concern considerations in accordance with Financial Accounting Standards Board’s Accounting Standards Codification Topic 205-40, “Presentation of Financial Statements – Going Concern,” the Company has until April 21, 2024, to consummate an initial business combination. It is uncertain that the Company will be able to consummate an initial business combination by this time. If an initial business combination is not consummated by this date, there will be a mandatory liquidation and subsequent dissolution of the Company. Management has determined that the liquidity condition and the mandatory liquidation, should an initial business combination not occur, and potential subsequent dissolution raises substantial doubt about the Company’s ability to continue as a going concern. No adjustments have been made to the carrying amounts of assets or liabilities should the Company be required to liquidate after April 21, 2024. Risks and Uncertainties Management is currently evaluating the impact of the COVID-19 pandemic on the industry and has concluded that while it is reasonably possible that the virus could have a negative effect on the Company’s financial position, results of its operations, and/or search for a target company, the specific impact is not readily determinable as of the date of these condensed consolidated financial statements. The condensed consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. In February 2022, the Russian Federation and Belarus commenced a military action with the country of Ukraine. As a result of this action, various nations, including the United States of America, have instituted economic sanctions against the Russian Federation and Belarus. Further, the impact of this action and related sanctions on the world economy are not determinable as of the date of these condensed consolidated financial statements and the specific impact on the Company’s financial condition, results of operations, and cash flows is also not determinable as of the date of these financial statements.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Summary of Significant Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X of the SEC. Certain information or footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting. Accordingly, they do not include all the information and footnotes necessary for a complete presentation of financial position, results of operations, or cash flows. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the Company’s Current Report on Form 10-K as filed with the SEC on April 20, 2023. In the opinion of the Company’s management, the unaudited interim condensed consolidated financial statements include all adjustments, which are only of a normal and recurring nature, necessary for a fair statement of the financial position of the Company as of June 30, 2023, and its results of operations and cash flows for the six-month period then ended. Principles of consolidation The unaudited condensed consolidated financial statements include the financial statements of the Company and its wholly-owned subsidiary, Fama Financial Services, Inc. (“Fama”), which was incorporated on August 23, 2022 in the State of Georgia. There were no material business activities in Fama for the period from its incorporation date to June 30, 2023. All transactions and balances among the Company and its subsidiaries have been eliminated upon consolidation. Emerging growth company The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act of 1933, as amended (the “Securities Act”), as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act’’), and it may take advantage of certain exemptions from various reporting requirements that apply to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can opt-out of the extended transition period and comply with the requirements that apply to non-emerging growth companies, but any such election to opt-out is irrevocable. The Company has elected not to opt-out of such an extended transition period, which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make a comparison of the Company’s condensed consolidated financial statements with another public company that is neither an emerging growth company nor an emerging growth company that has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used. Use of estimates The preparation of unaudited condensed consolidated financial statements in conformity with GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclose contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation, or set of circumstances that existed at the date of the unaudited condensed consolidated financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates. Cash and Cash Equivalents The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. As a result, the Company had cash of $1,025 and no no Investments Held in Trust Account As of June 30, 2023 and December 31, 2022, the Company had $42,583,196 and $118,985,048 investments held in the Trust Account, respectively. The investments held in the Trust Account were held in marketable treasury funds. All of the Company’s investments held in the Trust Account are classified as trading securities. Trading securities are presented on the balance sheet at fair value at the end of each reporting period. Gains and losses resulting from the change in fair value of investments held in Trust Account are included in interest income in the accompanying unaudited condensed statements of operations. The estimated fair value of investments held in Trust Account are determined using available market information. Income taxes The Company complies with the accounting and reporting requirements of ASC Topic 740 “Income Taxes” (“ASC 740”) which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. In addition, valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as an income tax expense. There were no The Company may be subject to potential examination by federal, state, and city taxing authorities in the areas of income taxes. These potential examinations may include questioning the timing and amount of deductions, the nexus of income among various tax jurisdictions, and compliance with federal, state, and city tax laws. The Company’s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months. The Company has been subject to income tax examinations by major taxing authorities since its inception. As of June 30, 2023 and December 31, 2022, the Company’s deferred tax asset had a full valuation allowance recorded against it. The effective tax rate was 79% for six months ended June 30, 2023, and 0.00% for the six months ended June 30, 2022. The effective tax rates differ from the statutory tax rate of 21% for six months ended June 30, 2023 and 2022 due to the valuation allowance on the deferred tax assets and permanent differences on the change in fair value of derivative warrant liabilities and non-deductible Excise Taxes. On August 16, 2022, the Inflation Reduction Act of 2022 (the “IR Act”) was signed into federal law. The IR Act provides for, among other things, a new U.S. federal 1% excise tax on certain repurchases of stock by publicly traded U.S. domestic corporations and certain U.S. domestic subsidiaries of publicly traded foreign corporations occurring on or after January 1, 2023. The excise tax is applicable to certain SPAC redemptions, including in connection with a SPAC’s business combination. The amount of a redemption subject to the excise tax is reduced by the fair market value of any stock issued by the SPAC during the taxable year of the redemption. The excise tax will only be applicable to the Company for its taxable years post December 31, 2022. The Company has not completed its initial business combination. On May 4, 2023, certain stockholders exercised their redemption rights and demanded the Company to redeem 7,527,997 shares of their Class A common stock. The Company distributed a total payment of $78,939,613 based on a redemption price of $10.49 per share from its trust account to these stockholders. The Company has accrued excise tax liability of approximately $789,396 related to the shareholder redemptions in the six months ended June 30, 2023. Net income (loss) per common share The Company complies with accounting and disclosure requirements of ASC Topic 260, “Earnings Per Share.” (ASC 260”). The Company has two classes of shares, which are referred to as Class A Common Stock and Class B Common Stock. Income and losses are shared pro rata between the two classes of shares. Net income (loss) per common stock is calculated by dividing the net income (loss) by the weighted average shares of common stock outstanding for the respective period. The calculation of diluted net income (loss) per share of common stock does not consider the effect of the warrants issued in connection with the Initial Public Offering and the Private Placement to purchase an aggregate of 9,650,250 shares of Class A Common Stock in the calculation of diluted income (loss) per share, because their exercise is contingent upon future events and their inclusion would be anti-dilutive under the treasury stock method. As a result, diluted net income (loss) per share is the same as basic net income (loss) per share for the period from inception to June 30, 2023. Accretion associated with the redeemable Class A Common Stock is excluded from earnings per share as the redemption value approximates fair value. The following table reflects presents a reconciliation of the numerator and denominator used to compute basic and diluted net income (loss) per share for each class of common stock for the three and six months ended June 30, 2023 and 2022: Three months ended June 30, 2023 Description Class A Class B Basic and diluted net income per common stock: Numerator: Allocation of net loss $ (405,350 ) $ (172,408 ) Denominator: Basic and diluted weighted average common stock outstanding 6,759,436 2,875,000 Basic and diluted net loss per common stock $ (0.06 ) $ (0.06 ) Six months ended June 30, 2023 Description Class A Class B Basic and diluted net income per common stock: Numerator: Allocation of net income $ 87,318 $ 27,450 Denominator: Basic and diluted weighted average common stock outstanding 9,145,214 2,875,000 Basic and diluted net income per common stock $ 0.01 $ 0.01 Three months ended June 30, 2022 Description Class A Class B Basic and diluted net income per common stock: Numerator: Allocation of net income $ 656,613 $ 163,337 Denominator: Basic and diluted weighted average common stock outstanding 11,557,500 2,875,000 Basic and diluted net income per common stock $ 0.06 $ 0.06 Six months ended June 30, 2022 Description Class A Class B Basic and diluted net income per common stock: Numerator: Allocation of net income $ 1,740,461 $ 432,951 Denominator: Basic and diluted weighted average common stock outstanding 11,557,500 2,875,000 Basic and diluted net income per common stock $ 0.15 $ 0.15 Concentration Of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk consist of a cash account in a financial institution which, at times, may exceed the Federal depository insurance coverage of $250,000. The Company had not experienced losses on this account, and management believes the Company is not exposed to significant risks on such account. Fair Value Of Financial Instruments The fair value of the Company’s assets and liabilities, which qualify as financial instruments under ASC 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the unaudited condensed consolidated balance sheets, primarily due to their short-term nature. Fair Value Measurements Fair value is defined as the price that would be received for sale of an asset or paid for transfer of a liability, in an orderly transaction between market participants at the measurement date. GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include: ● Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets; ● Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and ● Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. In some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement. Derivative Financial Instruments The Company does not use derivative instruments to hedge exposures to cash flow, market, or foreign currency risks. The Company evaluates all of its financial instruments, including issued stock purchase warrants, to determine if such instruments are derivatives or contain features that qualify as embedded derivatives, pursuant to ASC 480 and ASC 815-15. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is re-assessed at the end of each reporting period. In accordance with ASC 825-10 “Financial Instruments”, offering costs attributable to the issuance of the derivative warrant liabilities have been allocated based on their relative fair value of total proceeds and are recognized in the unaudited condensed consolidated statements of operations as incurred. The 5,750,000 public warrants issued in connection with the Initial Public Offering (the “Public Warrants”), the 3,900,250 Private Placement Warrants issued on October 21, 2021, the 1,150,000 Private Placements Warrants issued on October 21, 2022 and the 1,150,000 Private Placement Warrants issued on January 20, 2023 are recognized as derivative liabilities in accordance with ASC 815-40. Accordingly, the Company recognizes the warrant instruments as liabilities at fair value and adjusts the instruments to fair value at each reporting period. The liabilities are subject to re-measurement at each balance sheet date until exercised. The fair value of the Public Warrants issued in connection with the Initial Public Offering and Private Placement Warrants have been estimated using a Monte Carlo or Black-Scholes simulation model at each measurement date. Derivative warrant liabilities are classified as non-current liabilities as their liquidation is not reasonably expected to require the use of current assets or require the creation of current liabilities. Offering Costs Associated with the Initial Public Offering The Company complies with the requirements of ASC 340-10-S99-1 and SEC Staff Accounting Bulletin Topic 5A-Expenses of offering. Offering costs consisted of legal, accounting, underwriting fees and other costs incurred through the Initial Public Offering that were directly related to the Initial Public Offering. Offering costs are allocated to the separable financial instruments issued in the Initial Public Offering based on a relative fair value basis, compared to total proceeds received. Offering costs associated with derivative warrant liabilities are expensed as incurred, presented as non-operating expenses in the statements of operations. Offering costs associated with the Class A common stock were charged to stockholders’ deficit upon the completion of the Initial Public Offering. Class A Common Stock Subject to Possible Redemption All of the 11,500,000 shares of Class A common stock sold as part of the Units in the Public Offering contain a redemption feature which allows for the redemption of such Public Shares in connection with the Company’s liquidation, if there is a stockholder vote or tender offer in connection with the Business Combination and in connection with certain amendments to the Company’s amended and restated certificate of incorporation. In accordance with ASC 480, conditionally redeemable Class A common stock (including shares of Class A common stock that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) are classified as temporary equity. Ordinary liquidation events, which involve the redemption and liquidation of all of the entity’s equity instruments, are excluded from the provisions of ASC 480. Accordingly, 11,500,000 shares of Class A common stock subject to possible redemption at the redemption amount were presented at redemption value as temporary equity, outside of the stockholders’ deficit section of the Company’s condensed consolidated balance sheets. On May 4, 2023, certain stockholders exercised their redemption rights and demanded the Company to redeem 7,527,997 shares of their Class A common stock. The Company distributed a total payment of $78,939,613 based on a redemption price of $10.49 per share from its trust account to these stockholders. The Company expects to have an excise tax liability of approximately $789,396 related to the shareholder redemptions for the year ended December 31, 2023. As of June 30, 2023 and December 31, 2022, the common shares reflected on the condensed consolidated balance sheets are reconciled in the following table: Class A common shares subject to redemption at December 31, 2021 $ 116,150,000 Plus Remeasurement to common stock subject to possible redemption amount 2,242,240 Class A common shares subject to redemption at December 31, 2022 $ 118,392,240 Plus Remeasurement to common stock subject to possible redemption amount 2,242,205 Class A common shares subject to redemption at March 31, 2023 $ 120,634,445 Less Redemption of common stock (78,939,613 ) Remeasurement to common stock subject to possible redemption amount (136,891 ) Class A common shares subject to redemption at June 30, 2023 $ 41,557,941 Issued and adopted accounting standards Management does not believe that any recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s condensed consolidated financial statements.

Initial Public Offering

Initial Public Offering	6 Months Ended
	Jun. 30, 2023
Initial Public Offering [Abstract]
INITIAL PUBLIC OFFERING	NOTE 3. INITIAL PUBLIC OFFERING On October 21, 2021, the Company consummated its Initial Public Offering of 10,000,000 Units at $10.00 per Unit, generating gross proceeds of $100,000,000. Simultaneously, the underwriters exercised over-allotments, purchasing 1,500,000 additional Units, generating gross proceeds of $15,000,000. Each Unit consists of one share of Class A Common Stock, one-half of one Public Warrant, and one Public Right. Each Public Warrant entitles the holder to purchase one share of Class A Common Stock at an exercise price of $11.50 per share (see Note 7). Each Public Right entitles the holder to receive one-tenth of one share of Class A Common Stock upon completion of a Business Combination (see Note 8). The Company incurred offering costs related to the Initial Public Offering of $6,061,368, of which $1,437,500 was for underwriting fees, $3,737,500 was for deferred underwriting commissions, and $886,368 was for other offering costs.

Private Placement

Private Placement	6 Months Ended
	Jun. 30, 2023
Private Placement [Abstract]
PRIVATE PLACEMENT	NOTE 4. PRIVATE PLACEMENT Simultaneously with the closing of the Initial Public Offering, the Sponsor has purchased an aggregate of 3,900,250 Private Placement Warrants at a price of $1.00 per Private Placement Warrant ($3,900,250 in the aggregate). The excess of the proceeds over the fair value of the Private Placement Warrants has been recognized as a capital contribution from the Sponsor. Each Private Placement Warrant is exercisable to purchase one share of Class A Common Stock at a price of $11.50 per share. The proceeds from the sale of the Private Placement Warrants were added to the net proceeds from the Initial Public Offering held in the Trust Account. If the Company does not complete a Business Combination within the Combination Period, the proceeds from the sale of the Private Placement Warrants will be used to fund the redemption of the Class A Common Shares (subject to the requirements of applicable law) and the Private Placement Warrants will expire worthless. On October 21, 2022, the Company consummated the private placement of 1,150,000 warrants at a price of $1.00 per warrant (the “October 2022 Private Placement Warrants”), generating total proceeds of $1,150,000. The October 2022 Private Placement Warrants were purchased by the Sponsor and are substantially similar to the private placement warrants issued to the Sponsor at the time of IPO in October 2021. The October 2022 Private Placement Warrants have been issued pursuant to and are governed by a Warrant Agreement that is substantially similar to the Warrant Agreement that the Company entered into at the time of the IPO. Similar to the private placement warrants issued at the time of the IPO, the October 2022 Private Placement Warrants will not be transferable, assignable or salable until 30 days after the Company’s initial business combination and, unlike such private placement warrants, are not redeemable by the Company at any time (including following transfer by the Sponsor or its permitted transferees). The proceeds received by the Company in connection with the issuance of the October 2022 Private Placement Warrants have been deposited in the trust account (the “Trust Account”) established at the time of the IPO. In accordance with the Company’s Amended and Restated Certificate of Incorporation, the deposit of such proceeds into the Trust Account on or prior to October 21, 2022 will extend by three months until January 21, 2023, which is the time the Company will have to consummate an initial business combination. On January 20, 2023, the Company consummated the private placement of 1,150,000 warrants at a price of $1.00 per warrant (the “January 2023 Private Placement Warrants”), generating total proceeds of $1,150,000. In accordance with the Company’s Amended and Restated Certificate of Incorporation, the deposit of such proceeds into the Trust Account extended by another three months until April 21, 2023, which was the time the Company would have to consummate an initial business combination.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2023
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 5. RELATED PARTY TRANSACTIONS Class B Common Stock On March 8, 2021, the Company issued an aggregate of 2,875,000 shares of Class B common stock (“Founder Shares”) to the Sponsor for an aggregate purchase price of $25,000 in cash. In addition, such Founder Shares includes an aggregate of up to 375,000 shares subject to forfeiture by the Sponsor to the extent that the underwriters’ over-allotment is not exercised in full or in part, so that the Sponsor and initial stockholders will collectively own 20% of the Company’s issued and outstanding shares after the Initial Public Offering (assuming our Sponsor and initial stockholders do not purchase any Class A Common Shares in the Initial Public Offering and excluding the Private Placement Warrants and underlying securities). On March 27, 2021, the Sponsor sold 15,000 Founder Shares to the Chief Financial Officer, Jenny Junkeer, and 10,000 Founder Shares to each of the Company’s three independent directors, Michael Tomczyk, Robin Meister, and Lynn Perkins, in each case, at a price of $0.009 per share, the same price at which the Sponsor purchased such Founder Shares from the Company. Additionally, as consideration for financial advisory services rendered in connection with this offering, on March 11, 2021, ARC Capital received 50,000 shares of Class B Common Stock from our Sponsor at a price of $0.009 per share. The over-allotment is fully exercised. The initial stockholders have agreed not to transfer, assign or sell any of the Class B common stock (except to certain permitted transferees) until, with respect to 50% of the Class B common stock, the earlier of (i) six months after the date of the consummation of a Business Combination, or (ii) the date on which the closing price of the Company’s common stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations and recapitalizations) for any 20 trading days within any 30-trading day period commencing after a Business Combination, with respect to the remaining 50% of the Class B common stock, upon six months after the date of the consummation of a Business Combination, or earlier, in each case, if, subsequent to a Business Combination, the Company consummates a subsequent liquidation, merger, stock exchange or other similar transaction which results in all of the Company’s stockholders having the right to exchange their common stock for cash, securities or other property. Promissory Notes – Related Party On March 8, 2021, the Sponsor issued an unsecured promissory note to the Company (the “Sponsor Note”), pursuant to which the Company may borrow up to an aggregate principal amount of $400,000, of which $141,768 was borrowed by the Company during 2021. The Sponsor Note was non-interest bearing and was fully repaid as of December 31, 2021. On June 16, 2022, an affiliate of the Sponsor issued an unsecured promissory note (“June 2022 Note”) to the Company, pursuant to which the Company borrowed principal amount of $20,000. The June 2022 Note is non-interest bearing and previously had a maturity date on the earlier of: i) the consummation of the Company’s initial business combination; or ii) May 15, 2023. On May 8, 2023, the Company and the lender entered into an amendment agreement whereby the maturity date is amended to the Company’s initial business combination date. On May 8, 2023, the Company entered into an amendment agreement with an affiliate of the Sponsor to renew the outstanding balance of $19,957 under the June 2022 Note, which will mature on May 15, 2023, to a new maturity date. Pursuant to the amendment agreement, the outstanding balance of the June 2022 Note will be payable on the initial business combination date. As of June 30, 2023, $19,957 remains outstanding on this June 2022 Note. On August 2, 2022, a company owned by a director of our previous potential business combination target, issued an unsecured promissory note (“August 2022 Note”), pursuant to which the Company borrowed a principal amount of $200,000 with an interest rate of 9% per annum. The August 2022 Note matured on February 2, 2023. The balance due to the lender as of the maturity date of February 3, 2023 was $209,235, representing the unpaid principal and accrued interest under the August 2022 Note. The Company failed to pay the principal amount and accrued interest within five business days of the maturity date. Therefore, the Company is required to pay default interest at a rate of 20% per annum. On May 3, 2023, the Company entered into a settlement agreement (the “Settlement Agreement”) with HRT North America Ltd, LLC (“HRT”), the lender of the August 2022 Note whereby the Company agreed to settle: i) the unpaid principal and accrued interest in the total amount of $209,235 as of the February 3, 2023 maturity date; ii) default interest of $10,794; and iii) $38,185 of costs, expenses and attorney’s fees that were incurred by HRT for filing a litigation against the Company to request for payment through legal proceeding. On May 4, 2023, the Company paid the total of $258,214 (the “Payment”) based on the settlement amount agreed with HRT in the Settlement Agreement. The Company and HRT agreed that, upon execution of this Settlement Agreement and upon receipt by HRT of the Payment, the August 2022 Note was terminated and extinguished. On October 19, 2022, the Sponsor issued an unsecured promissory note (“October 2022 Note”), pursuant to which the Company borrowed principal amount of $300,000. The October 2022 Note is non-interest bearing and matures on May 15, 2023. On March 29, 2023, the Company made a repayment of $50,000 on the October 2022 Note. On May 17, 2023, the Company entered into an amendment agreement with the Sponsor to renew the outstanding balance of $250,000 under the October 2022 Note, which matured on May 15, 2023, to a new maturity date. Pursuant to the amendment agreement, the outstanding balance of the October 2022 Note will be payable on the earlier of: (i) the consummation of the initial business combination and (ii) April 21, 2024. On January 20, 2023, the Sponsor issued an unsecured promissory note (“January 2023 Note”), pursuant to which the Company borrowed principal amount of $200,000. The January 2023 Note is non-interest bearing and matures on July 15, 2023. The events of default related to the January 2023 Note include failure to make required payments, voluntary bankruptcy and involuntary bankruptcy. Upon the occurrence of an event of default, the January 2023 Note shall become immediately payable. On July 14, 2023, the Company entered into an amendment agreement with the Sponsor to renew the outstanding balance of $200,000 to a new maturity date. Pursuant to the amendment agreement, the outstanding balance of the January 2023 Note will be payable on the earlier of: (i) the consummation of the initial business combination and (ii) January 15, 2024. The amended promissory note also added a new interest clause, which stipulates that an 8% interest per annum shall be accrued on the unpaid principal balance of the January 2023 Note. The 8% interest will be accrued effectively from July 14, 2023. On April 20, 2023, the Company held a special meeting of stockholders in lieu of its 2023 annual meeting. At the special meeting, the Company’s shareholders approved an extension proposal (the “Extension Amendment Proposal”) to amend the Company’s amended and restated certificate of incorporation to extend the date by which the Company has to consummate its initial business combination for a maximum of twelve (12) additional month periods, from April 21, 2023 to April 21, 2024, or such earlier date as determined by its board of directors (the “Extended Date”). Pursuant to the Extension Amendment Proposal, the Sponsor has agreed to, or to cause a designee to, loan to the Company, pursuant to a promissory note (the “Extension Promissory Note”) an aggregate of $0.055 for each public share that is not redeemed, for each Extension Period (commencing on April 21, 2023, and on the 21st day of each subsequent month (or the next business day, if the 21st day of a calendar month falls on a day other than a business day)) that the Company requires a loan from the Sponsor, until the Extended Date. On April 24, 2023, the Sponsor loaned $110,000 under the Extension Promissory Note (“April 2023 Note”) to the Company’s for the first Extension Period to move the liquidation date from April 21, 2023 to May 21, 2023. The April 2023 Note bears an interest of 8% per annum and it is payable on the earlier to occur of (i) the consummation of the Company’s initial business combination and (ii) October 15, 2023. On June 21, 2023, the Sponsor loaned $127,000, of which $17,000 is related to Working Capital Loan and $110,000 is under the Extension Promissory Note (“June 2023 Note”), to the Company’s for the third Extension Period to move the liquidation date from June 21, 2023 to July 21, 2023. The June 2023 Note bears an interest of 8% per annum and it is payable on the earlier to occur of (i) the consummation of the Company’s initial business combination and (ii) November 15, 2023. On July 18, 2023, subsequent to the balance sheet date, the Sponsor loaned $120,000, of which $10,000 is related to Working Capital Loan and $110,000 is under the Extension Promissory Note (“July 2023 Note”), to the Company’s for the third Extension Period to move the liquidation date from July 21, 2023 to August 21, 2023. The July 2023 Note bears an interest of 8% per annum and it is payable on the earlier to occur of (i) the consummation of the Company’s initial business combination and (ii) December 15, 2023. See Note 10. Administrative Services Agreement The Company’s Sponsor has agreed, commencing from the date that the Company’s securities are first listed on NASDAQ through the earlier of the Company’s consummation of a Business Combination and its liquidation, to make available to the Company certain general and administrative services, including office space, utilities and administrative services, as the Company may require from time to time. The Company has agreed to pay the Sponsor $5,000 per month for these services. For the six months ended June 30, 2023 and 2022, the Company has paid $30,000 and $5,000 to the Sponsor for these administrative services, respectively. As of June 30, 2023 and December 31, 2022, the Company accrued $ nil Related Party Loans To finance transaction costs in connection with a Business Combination, the Company’s Sponsor or an affiliate of the Sponsor or the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required (“Working Capital Loans”). Such Working Capital Loans would be evidenced by promissory notes. The notes would either be repaid upon consummation of a Business Combination, without interest or, at the lender’s discretion, up to $1,500,000 of notes may be converted upon consummation of a Business Combination into warrants (“Working Capital Warrants”) at a price of $1.50 per Working Capital Warrant. The Working Capital Warrants will be identical to the Private Placement Warrants. In the event that a Business Combination does not close, the Company may use a portion of proceeds held outside the Trust Account to repay the Working Capital Loans, but no proceeds held in the Trust Account would be used to repay the Working Capital Loans. As of June 30, 2023 and December 31, 2022, there have been $17,000 and no amounts borrowed under the Working Capital Loans, respectively. Forward Purchase Agreement In connection with the IPO, the Company entered into a forward purchase agreement with Caltech Trading Corp., providing for the purchase by Caltech Trading Corp. of an aggregate of 9,000,000 forward purchase units at a purchase price of $10.00 per unit. The purchase of the Forward Purchase Units will occur concurrently and only in connection with the closing of the Business Combination. The terms and provisions of the forward purchase warrants to be issued as part of the forward purchase units are identical to those of the Private Placement Warrants. Representative Shares In connection with the IPO, the Company issued the 57,500 shares upon full exercise of the Over-allotment Option (the “Representative Shares”). The Representative has agreed not to transfer, assign or sell any such Representative Shares without prior consent of the Company until the completion of the initial Business Combination. In addition, the Representative has agreed (i) to waive its redemption rights (or right to participate in any tender offer) with respect to such shares in connection with the completion of the initial Business Combination and (ii) to waive its rights to liquidating distributions from the trust account with respect to such shares if the Company fails to complete the initial Business Combination within 12 months (or up to 18 months, if applicable) from the Closing of the Offering. The Representative will not sell, transfer, assign, pledge or hypothecate the Representative Shares, or cause the Representative Shares to be the subject of any hedging, short sale, derivative, put, or call transaction that would result in the effective economic disposition of the Representative Shares by any person, for a period of 180 days (pursuant to Rule 5110(e)(1) of the Conduct Rules of FINRA) following the Effective Date to anyone other than (i) the Representative or an underwriter or selected dealer in connection with the Offering, or (ii) a bona fide officer or partner of the Representative or of any such underwriter or selected dealer. On and after the 181st day following the Effective Date, transfers to others may be made subject to compliance with or exemptions from applicable securities laws. Private Placement Warrants The Company consummated certain private placement warrants with its Sponsor. Refer to Note 4 for details. Consulting Agreement On May 15, 2023, FEXD entered into a consulting agreement with Ritscapital Inc., the consulting company owned by Ritesh Suneja, the future Chief Financial Officer and Director of the Company after the business combination of Afinoz (refer to Note 6 below), to provide accounting, audit, pro forma financial, and other financial and accounting support in connection with the preparation of the Company’s proxy statement/prospectus and registration statement on Form S-4. Ritscapital Inc. is also a member of Afinoz. The consulting agreement provides for payment of $16,000 per month and terminates automatically upon closing of the business combination of Afinoz.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 6. COMMITMENTS AND CONTINGENCIES Registration Rights The holders of shares Class B Common Stock, Private Placement Warrants (and underlying securities), and any securities issued in payment of working capital loans made to the Company will be entitled to registration rights pursuant to an agreement signed prior to or on the effective date of Initial Public Offering. The majority of these securities holders are entitled to make up to two demands that the Company register such securities. Notwithstanding anything to the contrary, the underwriters (and/or their designees) may only make a demand registration (i) on one occasion and (ii) during the five-year period beginning on the effective date of the Initial Public Offering. The holders of the majority of the insider shares can elect to exercise these registration rights at any time commencing three months prior to the date on which these Common Stock are to be released from escrow. The holders of a majority of the Private Placement Warrants (and underlying securities) and securities issued in payment of working capital loans (or underlying securities) can elect to exercise these registration rights at any time after the Company consummates a Business Combination. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements filed subsequent to the consummation of a Business Combination. Notwithstanding anything to the contrary, the underwriters (and/or their designees) may participate in a “piggy-back” registration only during the seven year period beginning on the effective date of the Initial Public Offering. The Company will bear the expenses incurred in connection with the filing of any such registration statements. Notwithstanding anything to the contrary, under FINRA Rule 5110, the underwriters and/or their designees may only make a demand registration (i) on one occasion and (ii) during the five-year period beginning on the effective date of the registration statement relating to the Initial Public Offering, and the underwriters and/ or their designees may participate in a “piggy-back” registration only during the seven-year period beginning on the effective date of the registration statement relating to the Initial Public Offering. Underwriting Agreement The Underwriter purchased the 1,500,000 of additional Units to cover over-allotments, less the underwriting discounts and commissions. The underwriters received a cash underwriting discount of one and one-quarter percent (1.25%) of the gross proceeds of the Initial Public Offering, or $1,437,500, as the underwriters’ over-allotment was exercised in full. In addition, upon closing of the Business Combination, the underwriters are entitled to a deferred fee of three and one-quarter percent (3.25%) of the gross proceeds of the Initial Public Offering, or $3,737,500, as the underwriters’ over- allotment was exercised in full. The deferred fee will be paid in cash upon the closing of a Business Combination from the amounts held in the Trust Account, subject to the terms of the underwriting agreement. Right of First Refusal For a period beginning on the closing of this offering and ending on the earlier of the twelve (12) month anniversary of the closing of a Business Combination or the three year anniversary of the effective date of the registration statement, we have granted EF Hutton a right of first refusal to act as lead-left book-running manager and lead left manager for any and all future private or public equity, convertible and debt offerings during such period. In accordance with FINRA Rule 5110(f)(2)(E)(i), such right of first refusal shall not have a duration of more than three years from the effective date of the registration statement consummating our initial public offering. Forward Purchase Agreement On July 16, 2021, the Company entered into a forward purchase agreement with an anchor investor. Refer to Note 7 below for details. Business Combination Agreements Rana Business Combination Agreement On September 11, 2022, the Company announced that it, with Fama Financial Services, Inc., a Georgia corporation and wholly-owned subsidiary of the Company (“Merger Sub”), Rana Financial Inc., a Georgia corporation (“Rana”) and David Kretzmer, as representative of the Shareholders (“Shareholder Representative”), had entered into a business combination agreement (the “Rana Business Combination Agreement”), dated September 9, 2022, pursuant to which, among other things, Merger Sub will be merged with and into Rana (the “Merger”), with Rana surviving the Merger as a wholly-owned subsidiary of the Company. The key terms of the Rana Business Combination Agreement are as follows: Structure of the Rana Business Combination (a) The transaction is structured as a reverse triangular merger. Pursuant to the Rana Business Combination Agreement, on the closing date, Merger Sub will be merged with and into Rana, with Rana surviving the Merger (together with the other transactions related thereto, the “Proposed Rana Transactions”) as a wholly-owned direct subsidiary of the Company (the “Surviving Company”). (b) At the effective time of the Merger (the “Effective Time”), the certificate of incorporation of Rana, as in effect immediately prior to the Effective Time, shall be the certificate of incorporation of the Surviving Company, until thereafter amended as provided by law and such certificate of incorporation. (b) At the Effective Time, the bylaws of Merger Sub, as in effect immediately prior to the Effective Time, shall be the bylaws of the Surviving Company until thereafter amended as provided by law, the certificate of incorporation of the Surviving Company and such bylaws, as applicable. (c) At the closing, the Company shall amend and restate, effective as of the Effective Time, its certificate of incorporation to be as set forth in the Rana Business Combination Agreement, pursuant to which the Company shall have a single class structure with shares of Class A common stock, par value $0.0001 per share, having voting rights of one vote per share (the “New Acquiror Class A Common Stock”). (d) The Company shall pay a combination of Rana Cash Consideration and Rana Equity Consideration for the Company Common Stock subject to adjustments for Working Capital and Debt, which adjustments shall be secured by an escrow amount equal to $5,711,662 (the “Rana Escrow Amount”). The Rana Cash Consideration means $7,800,000 and the Rana Equity Consideration means 7,020,000 shares of New Acquiror Class A Common Stock. On May 12, 2023, the Company terminated the Rana Business Combination Agreement. On July 3, 2023, Rana, filed a claim for injunctive and declaratory relief, among other things, in the Court of Chancery of the State of Delaware, requesting that the Court invalidate the previously disclosed termination by the Company of that the Rana Business Combination Agreement dated September 9, 2022, by and among the Company, Rana, and certain other parties thereto, require specific performance by the Company of its obligations under the Rana Business Combination Agreement, deliver to Rana certain requested financial information, and in the alternative, provide monetary damages. The dispute arises out of whether the Company properly exercised its right to terminate the Agreement pursuant to Section 9.01(h) of the Agreement, which permits such termination if certain required financial statements (together with an unqualified report therein of the auditors of Rana and its subsidiaries, if applicable) are not delivered on or before the deadlines specified in the Agreement. The Company intends to defend this suit vigorously and believes that the claims asserted by Rana are without merit. However, there can be no assurance as to the ultimate outcome of this matter. As a result, this could affect the Company’s ability to consummate the initial business combination or another business combination in the future. As of to date, no amount of damage has been claimed by Rana and the first trial is estimated to occur in January 2024. Afinoz Business Combination Agreement On September 11, 2022, the Company, announced that it, Fama Financial Services, Inc., a Georgia corporation and wholly owned subsidiary of the Company (“Merger Sub”), Monisha Sahni, Rachna Suneja and Ritscapital, LLC (collectively the “Members”) and Monisha Sahni as representative of the Members (“Member Representative”), had entered into a business combination agreement (the “Afinoz Business Combination Agreement”), dated September 9, 2022, pursuant to which, among other things, Mobitech International LLC, a limited liability company organized in the United Arab Emirates (“Afinoz”) will become as a wholly-owned subsidiary of the Company. The key terms of the Afinoz Business Combination Agreement are as follows: (a) The transaction is structured as a purchase of limited liability company membership interests. Pursuant to the Afinoz Business Combination Agreement, on the closing date, the Company will purchase the limited liability company membership interests of Afinoz, with Afinoz continuing as a wholly-owned direct subsidiary of the Company (together with the other transactions related thereto, the “Proposed Afinoz Transactions”). (b) The Company shall pay a combination of Afinoz Cash Consideration and Afinoz Equity Consideration for the Company Membership Interests subject to adjustments for Working Capital and Debt, which adjustments shall be secured by an escrow amount equal to $700,000 (the “Afinoz Escrow Amount”). The Afinoz Cash Consideration means $5,000,000 and the Afinoz Equity Consideration means 11,500,000 shares of New Acquiror Class A Common Stock. As of June 30, 2023, the Afinoz Business Combination has not been closed. Employment Offer Letters On December 20, 2022, the Company entered into a conditional offer letter with an individual for the position of Chief Marketing Officer of FEXD (the “CMO Offer Letter”). Pursuant to the CMO Offer Letter, the individual will become the Chief Marketing Officer of FEXD on June 1, 2023. The appointment is contingent upon the consummation of the business combination among FEXD, Rana and Afinoz and shareholder approval. Upon effectiveness, the Chief Marketing Officer will receive an annual salary of $400,000, up to $150,000 in performance bonuses with $15,000 guaranteed, $200,000 in FEXD stock vesting over three years with a 12-month cliff and standard benefits. Since the business combination has not been closed, the conditional offer letter has not come into effect as of June 30, 2023. On August 13, 2023, the Company terminated the CMO Offer Letter. On February 16, 2023, the Company entered into a consulting agreement with the previous Chief Marketing Officer for marketing service of $5,000 per month. During the year, the Company has paid $15,000 for the marketing consulting services. The agreement terminated as of June 30, 2023. On December 20, 2022, the Company entered into a conditional offer letter with an individual for the position of Chief Executive Officer of Fama Financial Services (the “CEO Offer Letter”). Pursuant to the CEO Offer Letter, the individual will become the Chief Executive Officer of FEXD on June 1, 2023. The appointment is contingent upon the consummation of the business combination among FEXD, Rana and Afinoz and shareholder approval. Upon effectiveness, the Chief Executive Officer will receive an annual salary of $500,000, a minimum cash bonus of 30 percent of the annual salary year one, 20% percent on year two and 15% from year three onwards (subject to an objective based target bonus of up to 200% of prevailing salary which will be split equally with stocks vested over a period of three years and cash), $50,000 in FEXD stock vesting over three years with a 12-month cliff and standard benefits. Since the business combination has not been closed, the conditional offer letter has not come into effect as of June 30, 2023. On August 13, 2023, the Company terminated the CEO Offer Letter. De-SPAC Service Agreement On December 12, 2022, the Company entered a service agreement, effective January 15, 2023, with a third-party de-SPAC service provider. Pursuant to the agreement, the service provider will provide investor relation services to the Company for an initial 12-month period. The service provider will receive compensation of $90,000 from the Company for its services covering the initial 12-month period. In addition, the service provider will receive $22,500 worth of shares in the de-SPAC company quarterly, with the value accruing from the effective date of the service agreement. Since the award of the $22,500 worth of share is an instrument that embodies an obligation that the Company must settle by issuing a variable number of its equity shares based on a fixed value known at inception, the instrument is classified as a liability. As of June 30, 2023, the Company accrued $45,000 related to its obligation to issue shares, which is included in accounts payable and accrued liabilities on the accompanying unaudited condensed consolidated balance sheet.

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Jun. 30, 2023
Derivative Financial Instruments [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	NOTE 7. DERIVATIVE FINANCIAL INSTRUMENTS Warrant Liability Public Warrants may only be exercised for a whole number of shares. No fractional Public Warrants will be issued upon separation of the Units, and only whole Public Warrants will trade. The Public Warrants will become exercisable on the date that is 30 days after the completion of the initial Business Combination, provided that the Company has an effective registration statement under the Securities Act covering the issuance of the shares of common stock issuable upon exercise of the Public Warrants and a current prospectus relating to them is available and such shares are registered, qualified or exempt from registration under the securities, or blue sky, laws of the state of residence of the holder (or the Company permits holders to exercise their Public Warrants on a cashless basis under the circumstances specified in the warrant agreement). The Company will not be obligated to deliver any shares of Class A Common Stock pursuant to the exercise of a Public Warrant and will have no obligation to settle such Public Warrant exercise unless a registration statement under the Securities Act with respect to the shares of Class A Common Stock underlying the Public Warrants is then effective and a prospectus relating thereto is current, subject to the Company satisfying its obligations with respect to registration. No Public Warrant will be exercisable, and the Company will not be obligated to issue any shares of Class A common stock upon exercise of a Public Warrant unless Class A common stock issuable upon such Public Warrant exercise has been registered, qualified or deemed to be exempt under the securities laws of the state of residence of the registered holder of the Public Warrants. The Company has agreed that as soon as practicable, but in no event later than 20 business days, after the closing of a Business Combination, the Company will use its best efforts to file, and within 60 business days following a Business Combination to have declared effective, a registration statement for the registration, under the Securities Act, of the shares of Class A common stock issuable upon exercise of the Public Warrants. The Company will use its reasonable best efforts to maintain the effectiveness of such registration statement and a current prospectus relating thereto, until the expiration of the Public Warrants in accordance with the provisions of the Public Warrant agreement. Notwithstanding the above, if the Class A common stock is at the time of any exercise of a Public Warrant not listed on a national securities exchange such that it satisfies the definition of a “covered security” under Section 18(b)(1) of the Securities Act, the Company may, at its option, require holders of Public Warrants who exercise their Public Warrants to do so on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act and, in the event the Company so elects, the Company will not be required to file or maintain in effect a registration statement, but will be required to use its best efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is not available. The Public Warrants will expire five years after the completion of a Business Combination or earlier upon redemption or liquidation. In addition, if (x) the Company issues additional shares of Class A common stock or equity-linked securities for capital raising purposes in connection with the closing of the initial Business Combination at an issue price or effective issue price of less than $11.50 per share of Class A common stock (with such issue price or effective issue price to be determined in good faith by the board of directors and, in the case of any such issuance to the Sponsor or its affiliates, without taking into account any Founder Shares held by the Sponsor or such affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of the initial Business Combination on the date of the consummation of the initial Business Combination (net of redemptions), and (z) the volume-weighted average trading price of Class A common stock during the 10-trading day period starting on the trading day after to the day on which the Company consummates its initial Business Combination (such price, the “Market Value”) is below $9.20 per share, then the exercise price of the Public Warrants will be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price, and the $18.00 per share redemption trigger price described under “Description of Securities-Warrants-Public Stockholders’ Warrants-Redemption of warrants when the price per share of Class A common stock equals or exceeds $18.00” will be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly Issued Price, and the $10.00 per share redemption trigger price will be adjusted (to the nearest cent) to be equal to the higher of the market value and the Newly Issued Price. The Company may call the Public Warrants for redemption: ● in whole and not in part; ● at a price of $0.01 per warrant; ● upon a minimum of 30 days’ prior written notice of redemption, or the 30-day redemption period, to each warrant holder; and ● if, and only if, the last reported sale price of Class A common stock equals or exceeds $18.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations, and the like and for certain issuances of Class A common stock and equity-linked securities as described above) for any 20 trading days within a 30-trading day period ending on the third trading day prior to the date on which the Company sends the notice of redemption to the Public Warrant holders. If and when the Public Warrants become redeemable by the Company, the Company may exercise its redemption right even if it is unable to register or qualify the underlying securities for sale under all applicable state securities laws. If the Company calls the Public Warrants for redemption for cash, management will have the option to require all holders that wish to exercise the Public Warrants to do so on a “cashless basis,” as described in the warrant agreement. The exercise price and the number of shares of Class A Common Stock issuable upon exercise of the Public Warrants may be adjusted in certain circumstances, including in the event of a stock dividend or recapitalization, reorganization, merger, or consolidation. However, the Public Warrants will not be adjusted for issuance of Class A Common Stock at a price below its exercise price. Additionally, in no event will the Company be required to net cash settle the Public Warrants. If the Company is unable to complete a Business Combination within the Combination Period or during any Extension Period, and the Company liquidates the funds held in the Trust Account, holders of Public Warrants will not receive any of such funds with respect to their Public Warrants, nor will they receive any distribution from the Company’s assets held outside of the Trust Account with respect to such Public Warrants. Accordingly, the Public Warrants may expire worthless. The Private Placement Warrants, including the October 2022 and January 2023 Private Placement Warrants, are identical to the Public Warrants underlying the Units sold in the Initial Public Offering, except that the Private Placement Warrants and the Class A Common Stock issuable upon the exercise of the Private Placement Warrants are not transferable, assignable or salable until 30 days after the completion of a Business Combination, subject to certain limited exceptions. Additionally, the Placement Warrants are exercisable on a cashless basis and are non-redeemable so long as they are held by the initial purchasers or their permitted transferees (except as set forth above). If the Private Placement Warrants are held by someone other than the initial purchasers or their permitted transferees, the Private Placement Warrants will be redeemable by the Company and exercisable by such holders on the same basis as the Public Warrants. The Company accounted for the 9,650,250 warrants issued in connection with the Initial Public Offering (including 5,750,000 Public Warrants and 3,900,250 Private Placement Warrants as the underwriters’ over-allotment option was exercised in full), the 1,150,000 October 2022 Private Placement Warrants, and the 1,150,000 January 2023 Private Placement Warrants in accordance with the guidance contained in ASC 815-40. Such guidance provides that because the warrants do not meet the criteria for equity treatment thereunder, each warrant must be recorded as a liability. The warrant agreement contains an Alternative Issuance provision that if less than 70% of the consideration receivable by the holders of the Class A Common Stock in the Business Combination is payable in the form of common equity in the successor entity, and if the holders of the warrants properly exercise the warrants within thirty days following the public disclosure of the consummation of Business Combination by the Company, the Warrant Price shall be reduced by an amount (in dollars) equal to the difference of (i) the Warrant Price in effect prior to such reduction minus (ii) (A) the Per Share Consideration (as defined below) (but in no event less than zero) minus (B) the Black-Scholes Warrant Value (as defined below). The “Black- Scholes Warrant Value” means the value of a Warrant immediately prior to the consummation of the Business Combination based on the Black-Scholes Warrant Model for a Capped American Call on Bloomberg Financial Markets. “Per Share Consideration” means (i) if the consideration paid to holders of the common stock consists exclusively of cash, the amount of such cash per common stock, and (ii) in all other cases, the volume-weighted average price of the common stock as reported during the ten-trading day period ending on the trading day prior to the effective date of the Business Combination. The Company believes that the adjustments to the exercise price of the warrants are based on a variable that is not an input to the fair value of a “fixed-for-fixed” option as defined under FASB ASC Topic No. 815 - 40, and thus the warrants are not eligible for an exception from derivative accounting. The accounting treatment of derivative financial instruments requires that the Company record a derivative liability upon closing the Initial Public Offering. Accordingly, the Company will classify its Public Warrant, Private Placement Warrant as a liability at its fair value, and the warrants will be estimated using a valuation model prepared by an outside valuation firm. The valuation model uses inputs such as assumed share prices, volatility, discount factors, and other assumptions and may not reflect the price at which they can be settled. This liability is subject to remeasurement at each balance sheet date. With each such remeasurement, the warrant liability will be adjusted to fair value, with the change in fair value recognized in the Company’s statements of operations. The Company will reassess the classification at each balance sheet date. If the classification changes as a result of events during the period, the warrants will be reclassified as of the date of the event that causes the reclassification. Forward Purchase Agreement On July 16, 2021, the Company entered into a forward purchase agreement (the “Forward Purchase Agreement”) with Caltech Trading Corp., an anchor investor. Pursuant to the Forward Purchase Agreement, Caltech Trading Corp. will agree to purchase a minimum of 8,000,000 units and a maximum of 9,000,000 units (the “Forward Purchase Units”), with each Forward Purchase Unit consisting of one share of Class A common stock (a “Forward Purchase Share”), one right to receive one-tenth (1/10) of one share of its Class A common stock (a “Forward Purchase Right”) and one-half of one warrant to purchase one share of Class A common stock (a “Forward Purchase Warrant”), at a price of $10.00 per Forward Purchase Unit, for a minimum aggregate purchase price of $80.0 million and a maximum aggregate purchase price of up to $90.0 million. The shares of Class A common stock to be issued under the Forward Purchase Agreement will have no redemption rights and no right to liquidate distributions from the Trust Account. The Forward Purchase Shares, the Forward Purchase Rights and Forward Purchase Warrants will be identical to the shares of Class A Common Stock, the Public Rights, and the Public Warrants, respectively, included in the Public Units sold in the Initial Public Offering. The purchase of the Forward Purchase Units will occur concurrently and only in connection with the closing of the Business Combination. The Forward Purchase Shares, Forward Purchase Rights and Forward Purchase Warrants (and the shares of Class A common stock underlying such securities) are subject to registration rights. Caltech’s Trading commitment under the Forward Purchase Agreement is subject to customary closing conditions, including that the Business Combination must be consummated substantially concurrently with the purchase of the Forward Purchase Units. The obligations of Caltech Trading under the Forward Purchase Agreement do not depend on whether any Class A common shares held by public shareholders are redeemed by the Company. The Company accounted for the Forward Purchase Agreement in accordance with the guidance in ASC 815-40 and accounts for such agreement as a derivative liability. The liability is subject to re-measurement at each balance sheet date, with changes in fair value recognized in the statements of operations.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2023
Fair Value of Financial Instruments [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	NOTE 8. FAIR VALUE OF FINANCIAL INSTRUMENTS The following table presents information about the Company’s derivative warrant liabilities and forward purchase agreement liability that are measured at fair value on a recurring basis as of June 30, 2023 and December 31, 2022 and indicates the fair value hierarchy of the valuation techniques that the Company utilized to determine such fair value: As of June 30, 2023 Description Quoted Prices in Significant Other Significant Other Public Warrants $ 115,000 $ - $ - Private Placement Warrants - 124,005 - Forward Purchase Agreement Liability - - 123,287 Total $ 115,000 $ 124,005 $ 123,287 As of December 31, 2022 Description Quoted Prices in Significant Other Significant Other Public Warrants $ 402,500 $ - $ - Private Placement Warrants - 353,518 - Forward Purchase Agreement Liability - - 285,567 Total $ 402,500 $ 353,518 $ 285,567 The fair value of the public warrants is determined based on the publicly trading price on the valuation date. The fair value of the private warrants is determined using Black-Scholes model based on Level 2 observable inputs. Inherent in the Black-Scholes simulation are assumptions related to expected stock-price volatility, expected life, risk-free interest rate and dividend yield. The Company estimates the volatility of its common stock based on historical volatility of select peer companies that matches the expected remaining life of the warrants. The risk-free interest rate is based on the U.S. Treasury zero-coupon yield curve on the grant date for a maturity similar to the expected remaining life of the warrants. The expected life of the warrants is assumed to be equivalent to their remaining contractual term. The dividend rate is based on the historical rate, which the Company anticipates remaining at zero. The fair value of the Forward Purchase Agreement is estimated by determining the current value of the instruments to be purchased based on the $10.69 trading price of the unit on the valuation date, less the present value of the committed purchase price based on $10.00 per unit of the same instruments using Level 3 inputs, which include risk free interest rate, expected remaining life of the agreement and probability of acquisition. The change in the fair value of the forward purchase agreement liability, measured using level 3 inputs, for the six months ended June 30, 2023 and 2022, is summarized as follows Forward purchase agreement liability – level 3, at January 1, 2022 $ 1,726,908 Change in fair value 161,031 Forward purchase agreement liability – level 3, at March 31, 2022 $ 1,887,939 Change in fair value (110,823 ) Forward purchase agreement liability – level 3, at June 30, 2022 $ 1,777,116 Forward purchase agreement liability – level 3, at January 1, 2023 $ 285,567 Change in fair value 5,444 Forward purchase agreement liability – level 3, at March 31, 2023 $ 291,011 Change in fair value (167,724 ) Forward purchase agreement liability – level 3, at June 30, 2023 $ 123,287 The following table presents information about the Company’s liabilities that are measured at fair value on a recurring basis at June 30, 2023: Inputs Private Placement Forward Purchase Exercise price $ 11.50 $ 10.00 Volatility 6.9 % N/A Expected term 5.81 years 0.81 year Risk-free rate 3.98 % 5.28 % Probability of acquisition 1.25 % 1.25 % Dividend yield 0 % 0 % The following table presents information about the Company’s liabilities that are measured at fair value on a recurring basis at December 31, 2022: Inputs Private Placement Forward Purchase Exercise price $ 11.50 $ 10.00 Volatility 4.6 % N/A Expected term 5.06 years 0.06 year Risk-free rate 3.91 % 4.04 % Probability of acquisition 7.5 % 7.5 % Dividend yield 0 % 0 %

Stockholder_s Equity

Stockholder’s Equity	6 Months Ended
	Jun. 30, 2023
Stockholder’s Equity [Abstract]
STOCKHOLDERS' EQUITY	NOTE 9. STOCKHOLDER’S EQUITY Preferred Shares The Company is authorized to issue 1,000,000 preferred shares with a par value of $0.0001 per share with such designation, rights and preferences as may be determined from time to time by the Company’s Board of Directors. At June 30, 2023 and December 31, 2022, there were no Class A Common Stock The Company is authorized to issue 200,000,000 shares of Class A Common Stock with a par value of $0.0001 per share. Holders of the Company’s Class A Common Stock are entitled to one vote for each share. At June 30, 2023 and December 31, 2022, there were 57,500 Class A Common Stock issued and outstanding excluding 3,972,003 and 11,500,000 shares subject to redemption, respectively. Class B Common Stock The Company is authorized to issue 200,000,000 shares of Class A Common Stock with a par value of $0.0001 per share. Holders of the Company’s Class A Common Stock are entitled to one vote for each share. At June 30, 2023 and December 31, 2022, there were 2,875,000 shares of Class B Common Stock issued and outstanding. Class B common stock will automatically convert into shares of Class A common stock at the time of the initial business combination on a one-for-one basis. Public Rights Each holder of a Public Right will be entitled to receive one-tenth (1/10) of one share of Class A Common Stock upon consummation of a Business Combination, even if the holder of such right redeemed all shares held by it in connection with a Business Combination. No fractional shares will be issued upon the exchange of the Public Rights. No additional consideration will be required to be paid by a holder of rights in order to receive its additional shares upon consummation of a Business Combination as the consideration related thereto has been included in the unit purchase price paid for by investors in the Initial Public Offering. If the Company enters into a definitive agreement for a Business Combination in which the Company will not be the surviving entity, the definitive agreement will provide for the holders of rights to receive the same per share consideration the holders of the Class A Common Stock will receive in the transaction on an as-converted into Class A Common Stock basis and each holder of a right will be required to affirmatively convert its rights in order to receive 1/10 share underlying each right (without paying additional consideration). The shares issuable upon exchange of the rights will be freely tradable (except to the extent held by affiliates of the Company).

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 10. SUBSEQUENT EVENTS In accordance with ASC Topic 855, “Subsequent Events”, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued. Based on this review, except the events below, the Company did not identify any subsequent events through the date of the issuance of the condensed consolidated financial statements that would have required disclosure or adjustment in the condensed consolidated financial statements: On July 18, 2023, the Sponsor loaned $120,000 under the Extension Promissory Note (“July 2023 Note”) into the Company for the fourth Extension Period to move the liquidation date from July 21, 2023 to August 21, 2023. The July 2023 Note bears an interest of 8% per annum and it is payable on the earlier to occur of (i) the consummation of the Company’s initial business combination and (ii) December 15, 2023. On July 3, 2023, Rana filed a claim for injunctive and declaratory relief, among other things, in the Court of Chancery of the State of Delaware, requesting that the Court invalidate the previously disclosed termination by the Company of that the Rana Business Combination Agreement dated September 9, 2022, by and among the Company, Rana, and certain other parties thereto, require specific performance by the Company of its obligations under the Rana Business Combination Agreement, deliver to Rana certain requested financial information, and in the alternative, provide monetary damages. The dispute arises out of whether the Company properly exercised its right to terminate the Agreement pursuant to Section 9.01(h) of the Agreement, which permits such termination if certain required financial statements (together with an unqualified report therein of the auditors of Rana and its subsidiaries, if applicable) are not delivered on or before the deadlines specified in the Agreement. The Company intends to defend this suit vigorously and believes that the claims asserted by Rana are without merit. However, there can be no assurance as to the ultimate outcome of this matter. As a result, this could affect the Company’s ability to consummate the initial business combination or another business combination in the future. As of to date, no amount of damage has been claimed by Rana and the first trial is estimated to occur in January 2024.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	6 Months Ended
	Jun. 30, 2023
Summary of Significant Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X of the SEC. Certain information or footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting. Accordingly, they do not include all the information and footnotes necessary for a complete presentation of financial position, results of operations, or cash flows. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the Company’s Current Report on Form 10-K as filed with the SEC on April 20, 2023. In the opinion of the Company’s management, the unaudited interim condensed consolidated financial statements include all adjustments, which are only of a normal and recurring nature, necessary for a fair statement of the financial position of the Company as of June 30, 2023, and its results of operations and cash flows for the six-month period then ended.
Principles of consolidation	Principles of consolidation The unaudited condensed consolidated financial statements include the financial statements of the Company and its wholly-owned subsidiary, Fama Financial Services, Inc. (“Fama”), which was incorporated on August 23, 2022 in the State of Georgia. There were no material business activities in Fama for the period from its incorporation date to June 30, 2023. All transactions and balances among the Company and its subsidiaries have been eliminated upon consolidation.
Emerging growth company	Emerging growth company The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act of 1933, as amended (the “Securities Act”), as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act’’), and it may take advantage of certain exemptions from various reporting requirements that apply to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can opt-out of the extended transition period and comply with the requirements that apply to non-emerging growth companies, but any such election to opt-out is irrevocable. The Company has elected not to opt-out of such an extended transition period, which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make a comparison of the Company’s condensed consolidated financial statements with another public company that is neither an emerging growth company nor an emerging growth company that has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.
Use of estimates	Use of estimates The preparation of unaudited condensed consolidated financial statements in conformity with GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclose contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation, or set of circumstances that existed at the date of the unaudited condensed consolidated financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. As a result, the Company had cash of $1,025 and no no
Investments Held in Trust Account	Investments Held in Trust Account As of June 30, 2023 and December 31, 2022, the Company had $42,583,196 and $118,985,048 investments held in the Trust Account, respectively. The investments held in the Trust Account were held in marketable treasury funds. All of the Company’s investments held in the Trust Account are classified as trading securities. Trading securities are presented on the balance sheet at fair value at the end of each reporting period. Gains and losses resulting from the change in fair value of investments held in Trust Account are included in interest income in the accompanying unaudited condensed statements of operations. The estimated fair value of investments held in Trust Account are determined using available market information.
Income taxes	Income taxes The Company complies with the accounting and reporting requirements of ASC Topic 740 “Income Taxes” (“ASC 740”) which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. In addition, valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as an income tax expense. There were no The Company may be subject to potential examination by federal, state, and city taxing authorities in the areas of income taxes. These potential examinations may include questioning the timing and amount of deductions, the nexus of income among various tax jurisdictions, and compliance with federal, state, and city tax laws. The Company’s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months. The Company has been subject to income tax examinations by major taxing authorities since its inception. As of June 30, 2023 and December 31, 2022, the Company’s deferred tax asset had a full valuation allowance recorded against it. The effective tax rate was 79% for six months ended June 30, 2023, and 0.00% for the six months ended June 30, 2022. The effective tax rates differ from the statutory tax rate of 21% for six months ended June 30, 2023 and 2022 due to the valuation allowance on the deferred tax assets and permanent differences on the change in fair value of derivative warrant liabilities and non-deductible Excise Taxes. On August 16, 2022, the Inflation Reduction Act of 2022 (the “IR Act”) was signed into federal law. The IR Act provides for, among other things, a new U.S. federal 1% excise tax on certain repurchases of stock by publicly traded U.S. domestic corporations and certain U.S. domestic subsidiaries of publicly traded foreign corporations occurring on or after January 1, 2023. The excise tax is applicable to certain SPAC redemptions, including in connection with a SPAC’s business combination. The amount of a redemption subject to the excise tax is reduced by the fair market value of any stock issued by the SPAC during the taxable year of the redemption. The excise tax will only be applicable to the Company for its taxable years post December 31, 2022. The Company has not completed its initial business combination. On May 4, 2023, certain stockholders exercised their redemption rights and demanded the Company to redeem 7,527,997 shares of their Class A common stock. The Company distributed a total payment of $78,939,613 based on a redemption price of $10.49 per share from its trust account to these stockholders. The Company has accrued excise tax liability of approximately $789,396 related to the shareholder redemptions in the six months ended June 30, 2023.
Net income (loss) per common share	Net income (loss) per common share The Company complies with accounting and disclosure requirements of ASC Topic 260, “Earnings Per Share.” (ASC 260”). The Company has two classes of shares, which are referred to as Class A Common Stock and Class B Common Stock. Income and losses are shared pro rata between the two classes of shares. Net income (loss) per common stock is calculated by dividing the net income (loss) by the weighted average shares of common stock outstanding for the respective period. The calculation of diluted net income (loss) per share of common stock does not consider the effect of the warrants issued in connection with the Initial Public Offering and the Private Placement to purchase an aggregate of 9,650,250 shares of Class A Common Stock in the calculation of diluted income (loss) per share, because their exercise is contingent upon future events and their inclusion would be anti-dilutive under the treasury stock method. As a result, diluted net income (loss) per share is the same as basic net income (loss) per share for the period from inception to June 30, 2023. Accretion associated with the redeemable Class A Common Stock is excluded from earnings per share as the redemption value approximates fair value. The following table reflects presents a reconciliation of the numerator and denominator used to compute basic and diluted net income (loss) per share for each class of common stock for the three and six months ended June 30, 2023 and 2022: Three months ended June 30, 2023 Description Class A Class B Basic and diluted net income per common stock: Numerator: Allocation of net loss $ (405,350 ) $ (172,408 ) Denominator: Basic and diluted weighted average common stock outstanding 6,759,436 2,875,000 Basic and diluted net loss per common stock $ (0.06 ) $ (0.06 ) Six months ended June 30, 2023 Description Class A Class B Basic and diluted net income per common stock: Numerator: Allocation of net income $ 87,318 $ 27,450 Denominator: Basic and diluted weighted average common stock outstanding 9,145,214 2,875,000 Basic and diluted net income per common stock $ 0.01 $ 0.01 Three months ended June 30, 2022 Description Class A Class B Basic and diluted net income per common stock: Numerator: Allocation of net income $ 656,613 $ 163,337 Denominator: Basic and diluted weighted average common stock outstanding 11,557,500 2,875,000 Basic and diluted net income per common stock $ 0.06 $ 0.06 Six months ended June 30, 2022 Description Class A Class B Basic and diluted net income per common stock: Numerator: Allocation of net income $ 1,740,461 $ 432,951 Denominator: Basic and diluted weighted average common stock outstanding 11,557,500 2,875,000 Basic and diluted net income per common stock $ 0.15 $ 0.15
Concentration Of Credit Risk	Concentration Of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk consist of a cash account in a financial institution which, at times, may exceed the Federal depository insurance coverage of $250,000. The Company had not experienced losses on this account, and management believes the Company is not exposed to significant risks on such account.
Fair Value Of Financial Instruments	Fair Value Of Financial Instruments The fair value of the Company’s assets and liabilities, which qualify as financial instruments under ASC 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the unaudited condensed consolidated balance sheets, primarily due to their short-term nature.
Fair Value Measurements	Fair Value Measurements Fair value is defined as the price that would be received for sale of an asset or paid for transfer of a liability, in an orderly transaction between market participants at the measurement date. GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include: ● Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets; ● Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and ● Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. In some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement.
Derivative Financial Instruments	Derivative Financial Instruments The Company does not use derivative instruments to hedge exposures to cash flow, market, or foreign currency risks. The Company evaluates all of its financial instruments, including issued stock purchase warrants, to determine if such instruments are derivatives or contain features that qualify as embedded derivatives, pursuant to ASC 480 and ASC 815-15. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is re-assessed at the end of each reporting period. In accordance with ASC 825-10 “Financial Instruments”, offering costs attributable to the issuance of the derivative warrant liabilities have been allocated based on their relative fair value of total proceeds and are recognized in the unaudited condensed consolidated statements of operations as incurred. The 5,750,000 public warrants issued in connection with the Initial Public Offering (the “Public Warrants”), the 3,900,250 Private Placement Warrants issued on October 21, 2021, the 1,150,000 Private Placements Warrants issued on October 21, 2022 and the 1,150,000 Private Placement Warrants issued on January 20, 2023 are recognized as derivative liabilities in accordance with ASC 815-40. Accordingly, the Company recognizes the warrant instruments as liabilities at fair value and adjusts the instruments to fair value at each reporting period. The liabilities are subject to re-measurement at each balance sheet date until exercised. The fair value of the Public Warrants issued in connection with the Initial Public Offering and Private Placement Warrants have been estimated using a Monte Carlo or Black-Scholes simulation model at each measurement date. Derivative warrant liabilities are classified as non-current liabilities as their liquidation is not reasonably expected to require the use of current assets or require the creation of current liabilities.
Offering Costs Associated with the Initial Public Offering	Offering Costs Associated with the Initial Public Offering The Company complies with the requirements of ASC 340-10-S99-1 and SEC Staff Accounting Bulletin Topic 5A-Expenses of offering. Offering costs consisted of legal, accounting, underwriting fees and other costs incurred through the Initial Public Offering that were directly related to the Initial Public Offering. Offering costs are allocated to the separable financial instruments issued in the Initial Public Offering based on a relative fair value basis, compared to total proceeds received. Offering costs associated with derivative warrant liabilities are expensed as incurred, presented as non-operating expenses in the statements of operations. Offering costs associated with the Class A common stock were charged to stockholders’ deficit upon the completion of the Initial Public Offering.
Class A Common Stock Subject to Possible Redemption	Class A Common Stock Subject to Possible Redemption All of the 11,500,000 shares of Class A common stock sold as part of the Units in the Public Offering contain a redemption feature which allows for the redemption of such Public Shares in connection with the Company’s liquidation, if there is a stockholder vote or tender offer in connection with the Business Combination and in connection with certain amendments to the Company’s amended and restated certificate of incorporation. In accordance with ASC 480, conditionally redeemable Class A common stock (including shares of Class A common stock that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) are classified as temporary equity. Ordinary liquidation events, which involve the redemption and liquidation of all of the entity’s equity instruments, are excluded from the provisions of ASC 480. Accordingly, 11,500,000 shares of Class A common stock subject to possible redemption at the redemption amount were presented at redemption value as temporary equity, outside of the stockholders’ deficit section of the Company’s condensed consolidated balance sheets. On May 4, 2023, certain stockholders exercised their redemption rights and demanded the Company to redeem 7,527,997 shares of their Class A common stock. The Company distributed a total payment of $78,939,613 based on a redemption price of $10.49 per share from its trust account to these stockholders. The Company expects to have an excise tax liability of approximately $789,396 related to the shareholder redemptions for the year ended December 31, 2023. As of June 30, 2023 and December 31, 2022, the common shares reflected on the condensed consolidated balance sheets are reconciled in the following table: Class A common shares subject to redemption at December 31, 2021 $ 116,150,000 Plus Remeasurement to common stock subject to possible redemption amount 2,242,240 Class A common shares subject to redemption at December 31, 2022 $ 118,392,240 Plus Remeasurement to common stock subject to possible redemption amount 2,242,205 Class A common shares subject to redemption at March 31, 2023 $ 120,634,445 Less Redemption of common stock (78,939,613 ) Remeasurement to common stock subject to possible redemption amount (136,891 ) Class A common shares subject to redemption at June 30, 2023 $ 41,557,941
Issued and adopted accounting standards	Issued and adopted accounting standards Management does not believe that any recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s condensed consolidated financial statements.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2023
Summary of Significant Accounting Policies [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table reflects presents a reconciliation of the numerator and denominator used to compute basic and diluted net income (loss) per share for each class of common stock for the three and six months ended June 30, 2023 and 2022: Description Class A Class B Basic and diluted net income per common stock: Numerator: Allocation of net loss $ (405,350 ) $ (172,408 ) Denominator: Basic and diluted weighted average common stock outstanding 6,759,436 2,875,000 Basic and diluted net loss per common stock $ (0.06 ) $ (0.06 ) Description Class A Class B Basic and diluted net income per common stock: Numerator: Allocation of net income $ 87,318 $ 27,450 Denominator: Basic and diluted weighted average common stock outstanding 9,145,214 2,875,000 Basic and diluted net income per common stock $ 0.01 $ 0.01 Description Class A Class B Basic and diluted net income per common stock: Numerator: Allocation of net income $ 656,613 $ 163,337 Denominator: Basic and diluted weighted average common stock outstanding 11,557,500 2,875,000 Basic and diluted net income per common stock $ 0.06 $ 0.06 Description Class A Class B Basic and diluted net income per common stock: Numerator: Allocation of net income $ 1,740,461 $ 432,951 Denominator: Basic and diluted weighted average common stock outstanding 11,557,500 2,875,000 Basic and diluted net income per common stock $ 0.15 $ 0.15
Schedule of Basic and Diluted Net Income (Loss) Per Share	As of June 30, 2023 and December 31, 2022, the common shares reflected on the condensed consolidated balance sheets are reconciled in the following table: Class A common shares subject to redemption at December 31, 2021 $ 116,150,000 Plus Remeasurement to common stock subject to possible redemption amount 2,242,240 Class A common shares subject to redemption at December 31, 2022 $ 118,392,240 Plus Remeasurement to common stock subject to possible redemption amount 2,242,205 Class A common shares subject to redemption at March 31, 2023 $ 120,634,445 Less Redemption of common stock (78,939,613 ) Remeasurement to common stock subject to possible redemption amount (136,891 ) Class A common shares subject to redemption at June 30, 2023 $ 41,557,941

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value of Financial Instruments [Abstract]
Schedule of Fair Value Hierarchy of the Valuation Techniques	The following table presents information about the Company’s derivative warrant liabilities and forward purchase agreement liability that are measured at fair value on a recurring basis as of June 30, 2023 and December 31, 2022 and indicates the fair value hierarchy of the valuation techniques that the Company utilized to determine such fair value: Description Quoted Prices in Significant Other Significant Other Public Warrants $ 115,000 $ - $ - Private Placement Warrants - 124,005 - Forward Purchase Agreement Liability - - 123,287 Total $ 115,000 $ 124,005 $ 123,287 Description Quoted Prices in Significant Other Significant Other Public Warrants $ 402,500 $ - $ - Private Placement Warrants - 353,518 - Forward Purchase Agreement Liability - - 285,567 Total $ 402,500 $ 353,518 $ 285,567
Schedule of the Fair Value of the Forward Purchase Agreement Liability	The change in the fair value of the forward purchase agreement liability, measured using level 3 inputs, for the six months ended June 30, 2023 and 2022, is summarized as follows Forward purchase agreement liability – level 3, at January 1, 2022 $ 1,726,908 Change in fair value 161,031 Forward purchase agreement liability – level 3, at March 31, 2022 $ 1,887,939 Change in fair value (110,823 ) Forward purchase agreement liability – level 3, at June 30, 2022 $ 1,777,116 Forward purchase agreement liability – level 3, at January 1, 2023 $ 285,567 Change in fair value 5,444 Forward purchase agreement liability – level 3, at March 31, 2023 $ 291,011 Change in fair value (167,724 ) Forward purchase agreement liability – level 3, at June 30, 2023 $ 123,287
Schedule of the Company’s Liabilities That are Measured at Fair Value on a Recurring Basis	The following table presents information about the Company’s liabilities that are measured at fair value on a recurring basis at June 30, 2023: Inputs Private Placement Forward Purchase Exercise price $ 11.50 $ 10.00 Volatility 6.9 % N/A Expected term 5.81 years 0.81 year Risk-free rate 3.98 % 5.28 % Probability of acquisition 1.25 % 1.25 % Dividend yield 0 % 0 % Inputs Private Placement Forward Purchase Exercise price $ 11.50 $ 10.00 Volatility 4.6 % N/A Expected term 5.06 years 0.06 year Risk-free rate 3.91 % 4.04 % Probability of acquisition 7.5 % 7.5 % Dividend yield 0 % 0 %

Description of Organization a_2

Description of Organization and Business Operations and Going Concern (Details) - USD ($)								6 Months Ended
	Apr. 21, 2024	Jul. 21, 2023	Jun. 21, 2023	Apr. 24, 2023	Apr. 20, 2023	Jan. 20, 2023	Oct. 21, 2021	Jun. 30, 2023	Jul. 18, 2023	Dec. 31, 2022	Oct. 21, 2022
Description of Organization and Business Operations and Going Concern (Details) [Line Items]
Shares issued, price per share (in Dollars per share)							$ 10
Deferred underwriting commissions							$ 3,737,500
Stock issued during period, Shares (in Shares)							1,500,000
Generating gross proceeds								$ 3,900,250
Maturity days							185 days
Fall net worth required for compliance								$ 5,000,001
Temporary equity, redemption price per share (in Dollars per share)								$ 10.46		$ 10.29
Liquidation basis of accounting, accrued costs to dispose of assets and liabilities								$ 100,000
Per share value of restricted assets (in Dollars per share)								$ 10.1
Sponsor deposited					$ 110,000
Operating bank account balance								$ 1,025
Investments held in its trust account								42,583,196		$ 118,985,048
Working capital deficit								3,745,949
Working capital loan			$ 17,000					$ 17,000	$ 10,000
Generating proceeds						$ 1,150,000
Promissory note		$ 120,000	$ 127,000	$ 110,000		$ 200,000
Proceeds from related party debt	$ 110,000
Private Placement Warrants [Member]
Description of Organization and Business Operations and Going Concern (Details) [Line Items]
Number of warrants issued (in Shares)						1,150,000
Price per warrant (in Dollars per share)						$ 1
IPO [Member]
Description of Organization and Business Operations and Going Concern (Details) [Line Items]
Initial public offering (in Shares)							11,500,000
Gross proceeds							$ 100,000,000
Proceeds of sale of initial public offering							116,150,000
Private Placement [Member]
Description of Organization and Business Operations and Going Concern (Details) [Line Items]
Gross proceeds							$ 115,000,000
Private Placement [Member] | Private Placement Warrants [Member]
Description of Organization and Business Operations and Going Concern (Details) [Line Items]
Number of warrants issued (in Shares)								3,900,250
Initial Public Offering And Private Placement Of Warrants [Member]
Description of Organization and Business Operations and Going Concern (Details) [Line Items]
Per unit amount placed in trust account (in Dollars per share)							$ 10.1
Class A common stock [Member]
Description of Organization and Business Operations and Going Concern (Details) [Line Items]
Payments of stock issuance costs							$ 6,061,368
Percentage of common stock for which redemption rights restriction applied							15%
Temporary equity, redemption price per share (in Dollars per share)								$ 10.1
Percentage of common shares	100%
Class A common stock [Member] | IPO [Member]
Description of Organization and Business Operations and Going Concern (Details) [Line Items]
Stock issued during period, Shares (in Shares)								11,500,000
Offering price per unit (in Dollars per share)								$ 10
Sponsor [Member]
Description of Organization and Business Operations and Going Concern (Details) [Line Items]
Loan from the Sponsor								$ 141,768
Business Combination [Member]
Description of Organization and Business Operations and Going Concern (Details) [Line Items]
Fall net worth required for compliance								5,000,001
Sponsor [Member]
Description of Organization and Business Operations and Going Concern (Details) [Line Items]
Loans repaid								$ 141,768
Sponsor [Member] | Private Placement Warrants [Member]
Description of Organization and Business Operations and Going Concern (Details) [Line Items]
Price per warrant (in Dollars per share)											$ 1
Sponsor [Member] | Private Placement [Member] | Private Placement Warrants [Member]
Description of Organization and Business Operations and Going Concern (Details) [Line Items]
Price per warrant (in Dollars per share)								$ 1
Sponsor [Member] | Founder Shares [Member]
Description of Organization and Business Operations and Going Concern (Details) [Line Items]
Cash received for offering cost In exchange of shares								$ 25,000

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($)				6 Months Ended
	May 04, 2023	Jan. 20, 2023	Oct. 21, 2021	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Oct. 21, 2022	Aug. 16, 2022
Summary of Significant Accounting Policies (Details) [Line Items]
Cash				$ 1,025		$ 10,335
Cash equivalents
Investments held in the trust account				42,583,196		118,985,048
Unrecognized tax benefits
Accrued for interest and penalties						0
Effective tax rate				79%	0%
Statutory tax rate				21%	21%
Units redeemed amount (in Shares)	7,527,997
Redemption amount	$ 78,939,613
Redemption Price Per Share (in Dollars per share)	$ 10.49
Tax payable amount				$ 789,396
Federal depository insurance coverage amount				$ 250,000	$ 250,000
Shares of class A common stock (in Shares)			1,500,000
Private Placement Warrants [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Warrants issued (in Shares)		1,150,000
IPO [Member] | Warrant [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Warrants issued (in Shares)				5,750,000
Private Placement [Member] | Private Placement Warrants [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Warrants issued (in Shares)				3,900,250
Private placement warrants (in Shares)		1,150,000	3,900,250				1,150,000
Class A common stock [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Units redeemed amount (in Shares)	7,527,997
Shares of class A common stock (in Shares)				11,500,000
Class A common stock [Member] | IPO [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Shares of class A common stock (in Shares)				11,500,000
Class A common stock [Member] | IPO [Member] | Private Placement Warrants [Member] | Warrant [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Purchase an aggregate shares (in Shares)				9,650,250
Inflation Reduction Act Two Thousand And Twenty Two [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Percentage of excise tax on repurchase of stock								1%
Redemption [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Redemption amount	$ 78,939,613
Redemption Price Per Share (in Dollars per share)	$ 10.49
Tax payable amount				$ 789,396

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - Schedule of Earnings Per Share, Basic and Diluted - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Class A common stock [Member]
Summary of Significant Accounting Policies (Details) - Schedule of Earnings Per Share, Basic and Diluted [Line Items]
Allocation of net income (loss)	$ (405,350)	$ 656,613	$ 87,318	$ 1,740,461
Basic weighted average common stock outstanding	6,759,436	11,557,500	9,145,214	11,557,500
Basic net income (loss) per common stock	$ (0.06)	$ 0.06	$ 0.01	$ 0.15
Class B common stock [Member]
Summary of Significant Accounting Policies (Details) - Schedule of Earnings Per Share, Basic and Diluted [Line Items]
Allocation of net income (loss)	$ (172,408)	$ 163,337	$ 27,450	$ 432,951
Basic weighted average common stock outstanding	2,875,000	2,875,000	2,875,000	2,875,000
Basic net income (loss) per common stock	$ (0.06)	$ 0.06	$ 0.01	$ 0.15

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details) - Schedule of Earnings Per Share, Basic and Diluted (Parentheticals) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Class A common stock [Member]
Summary of Significant Accounting Policies (Details) - Schedule of Earnings Per Share, Basic and Diluted (Parentheticals) [Line Items]
Diluted weighted average common stock outstanding	6,759,436	11,557,500	9,145,214	11,557,500
Diluted net income (loss) per common stock	$ (0.06)	$ 0.06	$ 0.01	$ 0.15
Class B common stock [Member]
Summary of Significant Accounting Policies (Details) - Schedule of Earnings Per Share, Basic and Diluted (Parentheticals) [Line Items]
Diluted weighted average common stock outstanding	2,875,000	2,875,000	2,875,000	2,875,000
Diluted net income (loss) per common stock	$ (0.06)	$ 0.06	$ 0.01	$ 0.15

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Details) - Schedule of Basic and Diluted Net Income (Loss) Per Share - USD ($)	3 Months Ended		12 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Schedule Of Basic And Diluted Net Income Loss Per Share Abstract
Remeasurement to common stock subject to possible redemption amount	$ (136,891)	$ 2,242,205	$ 2,242,240
Class A common shares subject to redemption	41,557,941	$ 120,634,445	$ 118,392,240
Redemption of common stock	$ (78,939,613)

Initial Public Offering (Detail

Initial Public Offering (Details) - USD ($)		6 Months Ended
	Oct. 21, 2021	Jun. 30, 2023
Initial Public Offering (Details) [Line Items]
Per unit per share (in Dollars per share)	$ 10
Additional units shares (in Shares)		1,500,000
Share of class A common stock (in Shares)		1
Class A common stock exercise price (in Dollars per share)		$ 0.01
Incurred offering costs		$ 6,061,368
Underwriting fees		1,437,500
Other offering costs		886,368
IPO [Member]
Initial Public Offering (Details) [Line Items]
Generating gross proceeds	$ 100,000,000
Deferred underwriting commissions		3,737,500
Over-Allotment Option [Member]
Initial Public Offering (Details) [Line Items]
Generating gross proceeds		$ 15,000,000
Class A common stock [Member] | IPO [Member]
Initial Public Offering (Details) [Line Items]
Consummated initial public offering (in Shares)	10,000,000
Class A common stock [Member] | Public Warrants [Member]
Initial Public Offering (Details) [Line Items]
Class A common stock exercise price (in Dollars per share)		$ 11.5

Private Placement (Details)

Private Placement (Details) - USD ($)				6 Months Ended
	Jan. 20, 2023	Oct. 21, 2022	Oct. 21, 2021	Jun. 30, 2023	Jun. 30, 2022
Private Placement (Details) [Line Items]
Warrants price per share			$ 10
Private placement warrant (in Dollars)				$ 1,150,000
Common stock per share				$ 0.01
Total proceeds (in Dollars)	$ 1,150,000
Private Placement [Member]
Private Placement (Details) [Line Items]
Warrants price per share				$ 1
Private Placement Warrants [Member]
Private Placement (Details) [Line Items]
Purchased an aggregate shares (in Shares)	1,150,000			3,900,250
Common stock per share				$ 11.5
Warrant price per share	$ 1
Sponsor [Member]
Private Placement (Details) [Line Items]
Total proceeds (in Dollars)		$ 1,150,000
Sponsor [Member] | Private Placement Warrants [Member]
Private Placement (Details) [Line Items]
Purchased an aggregate shares (in Shares)		1,150,000
Warrant price per share		$ 1
Sponsor [Member] | Private Placement Warrants [Member] | Private Placement [Member]
Private Placement (Details) [Line Items]
Private placement warrant (in Dollars)				$ 3,900,250
Warrant price per share				$ 1

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)

1 Months Ended

3 Months Ended

4 Months Ended

6 Months Ended

Jul. 14, 2023

May 08, 2023

May 04, 2023

Oct. 19, 2022

Aug. 02, 2022

Jun. 16, 2022

Oct. 21, 2021

Mar. 27, 2021

Mar. 11, 2021

Mar. 08, 2021

Jul. 18, 2023

Jun. 21, 2023

May 17, 2023

Apr. 21, 2023

Mar. 29, 2023

May 15, 2023

Jun. 30, 2023

Jun. 30, 2022

Apr. 30, 2023

Jan. 20, 2023

Dec. 31, 2022

Related Party Transactions (Details) [Line Items]

Maturity date

May 03, 2023

Sponsor to renew outstanding balance

$ 19,957

Interest rate

20%

Settlement amount paid

$ 258,214

Outstanding balance

$ 250,000

Aggregate shares (in Shares)

0.055

Sponsor loaned

$ 120,000

$ 127,000

$ 110,000

Percentage of interest rate

8%

8%

8%

Working capital loan

$ 10,000

17,000

$ 17,000

Related party transaction, amount of transaction

5,000

Borrowings

17,000

Shares issued (in Shares)

1,500,000

Consulting payment

$ 16,000

Subsequent Event [Member]

Related Party Transactions (Details) [Line Items]

Interest rate

8%

Outstanding balance

$ 200,000

Accrued accrued percentage

8%

January Two thousand and twenty three promissory note [Member]

Related Party Transactions (Details) [Line Items]

Sponsor loaned

$ 110,000

August Two thousand and twenty two promissory note [Member]

Related Party Transactions (Details) [Line Items]

Balance due to the lender

209,235

Accrued default interest

$ 38,185

October Two thousand and twenty two promissory note [Member]

Related Party Transactions (Details) [Line Items]

Maturity date

May 15, 2023

Repayments of debt

$ 50,000

January Two thousand and twenty three promissory note [Member]

Related Party Transactions (Details) [Line Items]

Aggregate principal amount

$ 200,000

Sponsor loaned

$ 110,000

Class B common stock [Member]

Related Party Transactions (Details) [Line Items]

Percentage of common stock

50%

Representative Shares [Member]

Related Party Transactions (Details) [Line Items]

Shares issued (in Shares)

57,500

Administrative Service [Member]

Related Party Transactions (Details) [Line Items]

Accrual expense

$ 30,000

Working Capital Loans [Member] | Working Capital Warrants [Member]

Related Party Transactions (Details) [Line Items]

Working capital warrant converted upon consummation

$ 1,500,000

Working capital warrant per share (in Dollars per share)

$ 1.5

Caltech Trading Corp [Member] | IPO [Member] | Forward Purchase Units [Member]

Related Party Transactions (Details) [Line Items]

Purchase of units issued (in Dollars per share)

9,000,000

Purchase of units issued per share (in Dollars per share)

$ 10

Sponsor [Member] | Class B common stock [Member]

Related Party Transactions (Details) [Line Items]

Aggregate shares (in Shares)

2,875,000

Aggregate purchase price

$ 25,000

Shares subject to forfeiture (in Shares)

375,000

Percentage of common stock issued and outstanding

20%

Sponsor [Member] | Class B common stock [Member] | Jenny Junkeer Chief Financial Officer [Member]

Related Party Transactions (Details) [Line Items]

Founder shares sold (in Shares)

15,000

Sale price per share (in Dollars per share)

$ 0.009

Sponsor [Member] | Class B common stock [Member] | Robin Meister Independent Director [Member]

Related Party Transactions (Details) [Line Items]

Founder shares sold (in Shares)

10,000

Sale price per share (in Dollars per share)

$ 0.009

Sponsor [Member] | Class B common stock [Member] | Michael Tomczyk Independent Director [Member]

Related Party Transactions (Details) [Line Items]

Founder shares sold (in Shares)

10,000

Sale price per share (in Dollars per share)

$ 0.009

Sponsor [Member] | Class B common stock [Member] | Lynn Perkins Independent Director [Member]

Related Party Transactions (Details) [Line Items]

Founder shares sold (in Shares)

10,000

Sale price per share (in Dollars per share)

$ 0.009

Sponsor [Member] | Class B common stock [Member] | ARC Capita [Member]

Related Party Transactions (Details) [Line Items]

Founder shares sold (in Shares)

50,000

Sale price per share (in Dollars per share)

$ 0.009

Sponsor [Member] | Unsecured Promissory Note [Member]

Related Party Transactions (Details) [Line Items]

Aggregate principal amount

$ 300,000

$ 400,000

Borrowed amount

$ 141,768

Sponsor [Member] | June 2022 Note [Member]

Related Party Transactions (Details) [Line Items]

Aggregate principal amount

$ 20,000

Maturity date

May 15, 2023

Remains outstanding non-interest bearing

$ 19,957

Sponsor [Member] | August 2022 Note [Member]

Related Party Transactions (Details) [Line Items]

Aggregate principal amount

$ 200,000

Maturity date

Feb. 02, 2023

Interest rate

9%

Principal amount

209,235

Sponsor [Member] | August 2022 Note [Member] | Accrued Interest [Member]

Related Party Transactions (Details) [Line Items]

Accrued interest

10,794

Sponsor [Member] | Administrative Service [Member]

Related Party Transactions (Details) [Line Items]

Related party transaction, amount of transaction

$ 30,000

$ 5,000

Sponsor [Member] | Working Capital Loans [Member]

Related Party Transactions (Details) [Line Items]

Borrowings

$ 0

Initial Stockholders [Member] | Class B common stock [Member] | Restriction On Transfer [Member]

Related Party Transactions (Details) [Line Items]

Percentage of shares subject to lock in

50%

Common stock equals or exceeds price per share (in Dollars per share)

$ 12

Representative [Member] | Minimum [Member]

Related Party Transactions (Details) [Line Items]

Liquidation rights waived on failure of business combination

12 months

Representative [Member] | Maximum [Member]

Related Party Transactions (Details) [Line Items]

Liquidation rights waived on failure of business combination

18 months

Commitments and Contingencies (

Commitments and Contingencies (Details)		1 Months Ended	6 Months Ended
	Dec. 20, 2022 USD ($)	Feb. 16, 2023 USD ($)	Jun. 30, 2023 USD ($) $ / shares shares	Dec. 12, 2022 USD ($)
Commitments and Contingencies (Details) [Line Items]
Percentage of underwriting discount			1.25%
Underwriting fees			$ 1,437,500
Percentage of deferred underwriting discount			3.25%
Underwriting deferred fee			$ 3,737,500
Number of mnths from closing of a business combination determing ending period			12 months
Effective date of the Initial public offering			three
Marketing service		$ 5,000	$ 15,000
Registration Rights [Member]
Commitments and Contingencies (Details) [Line Items]
Number of demands that can be made			2
Period beginning on the effective date of the initial public offering during which demand registration can be made			five-year
Registration rights period			three
Period beginning on the effective date of the initial public offering during which participation take place			seven year
Over-Allotment Option [Member]
Commitments and Contingencies (Details) [Line Items]
Shares issued (in Shares) | shares			1,500,000
New Acquiror Class A Common Stock [Member]
Commitments and Contingencies (Details) [Line Items]
Common stock, par or stated value per share (in Dollars per share) | $ / shares			$ 0.0001
Common stock, voting rights			one
FEXD Sponsor [Member]
Commitments and Contingencies (Details) [Line Items]
Cliff vesting period	12 months
FEXD Sponsor [Member] | Chief Marketing Officer [Member]
Commitments and Contingencies (Details) [Line Items]
Officer compensation	$ 400,000
Performance bonus	150,000
Guaranteed performance bonus	15,000
Stock vesting	200,000
Fama Financial Services [Member] | Chief Marketing Officer [Member]
Commitments and Contingencies (Details) [Line Items]
Officer compensation	500,000
Stock vesting	$ 50,000
Cliff vesting period	12 months
Percentage of cash bonus at the end of first year	30%
Percentage of cash bonus at the end of second year	20%
Percentage of cash bonus at the end of third year	15%
Target bonus rate	200%
De SPAC Service agreement [Member]
Commitments and Contingencies (Details) [Line Items]
Other commitment				$ 22,500
De SPAC Service agreement [Member] | Accounts Payable and Accrued Liabilities [Member]
Commitments and Contingencies (Details) [Line Items]
Other commitment			$ 45,000
De SPAC Service agreement [Member] | Service Compensation Provided form Monetary [Member]
Commitments and Contingencies (Details) [Line Items]
Other commitment				90,000
De SPAC Service agreement [Member] | Service Compensation Provided form Shares [Member]
Commitments and Contingencies (Details) [Line Items]
Other commitment				$ 22,500
Rana Business Combination Agreement [Member]
Commitments and Contingencies (Details) [Line Items]
Escrow amount			5,711,662
Cash consideration			$ 7,800,000
Rana Business Combination Agreement [Member] | New Acquiror Class A Common Stock [Member]
Commitments and Contingencies (Details) [Line Items]
Equity consideration (in Shares) | shares			11,500,000
Afinoz Business Combination Agreement [Member]
Commitments and Contingencies (Details) [Line Items]
Escrow amount			$ 700,000
Cash consideration			$ 5,000,000
Afinoz Business Combination Agreement [Member] | New Acquiror Class A Common Stock [Member]
Commitments and Contingencies (Details) [Line Items]
Equity consideration (in Shares) | shares			7,020,000

Derivative Financial Instrume_2

Derivative Financial Instruments (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended			6 Months Ended
	Jan. 31, 2023	Oct. 30, 2022	Jul. 16, 2021	Jun. 30, 2023
Derivative Financial Instruments (Details) [Line Items]
Expire warrants				5 years
Equity proceeds percentage				60%
Market value per share (in Dollars per share)				$ 9.2
Equal adjusted market value Percentage				115%
Trigger price (in Dollars per share)				$ 18
Warrant price (in Dollars per share)				$ 0.01
Initial Public Offering [Member]
Derivative Financial Instruments (Details) [Line Items]
Warrants issued				9,650,250
Minimum [Member]
Derivative Financial Instruments (Details) [Line Items]
Purchase share			8,000,000
Aggregate purchase price (in Dollars)			$ 80
Maximum [Member]
Derivative Financial Instruments (Details) [Line Items]
Purchase share			9,000,000
Aggregate purchase price (in Dollars)			$ 90
Class A common stock [Member]
Derivative Financial Instruments (Details) [Line Items]
Issue price (in Dollars per share)				$ 11.5
Equal adjusted market value Percentage				180%
Trigger price (in Dollars per share)				$ 10
Price per share (in Dollars per share)				18
Sale price of exceeds per share (in Dollars per share)				$ 18
Forward purchase share price (in Dollars per share)			$ 10
Public Warrants [Member]
Derivative Financial Instruments (Details) [Line Items]
Warrants issued				5,750,000
Consideration receivable percentage				70%
Private Placement Warrants [Member]
Derivative Financial Instruments (Details) [Line Items]
Warrant price (in Dollars per share)				$ 11.5
Warrants issued				3,900,250
Guidance contained	1,150,000	1,150,000
Forward Purchase Units [Member] | Class A common stock [Member]
Derivative Financial Instruments (Details) [Line Items]
Purchase share			1
Forward Purchase share [Member] | Class A common stock [Member]
Derivative Financial Instruments (Details) [Line Items]
Purchase share			1

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details)	Jun. 30, 2023 $ / shares
Fair Value of Financial Instruments [Abstract]
Purchased per share	$ 10.69
Purchase price per share	$ 10

Fair Value of Financial Instr_4

Fair Value of Financial Instruments (Details) - Schedule of Fair Value Hierarchy of the Valuation Techniques - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Quoted Prices in Active Markets (Level 1) [Member]
Fair Value of Financial Instruments (Details) - Schedule of Fair Value Hierarchy of the Valuation Techniques [Line Items]
Fair Value	$ 115,000	$ 402,500
Quoted Prices in Active Markets (Level 1) [Member] | Public Warrants [Member]
Fair Value of Financial Instruments (Details) - Schedule of Fair Value Hierarchy of the Valuation Techniques [Line Items]
Fair Value	115,000	402,500
Quoted Prices in Active Markets (Level 1) [Member] | Private Placement Warrants [Member]
Fair Value of Financial Instruments (Details) - Schedule of Fair Value Hierarchy of the Valuation Techniques [Line Items]
Fair Value
Quoted Prices in Active Markets (Level 1) [Member] | Forward Purchase Agreement Liability [Member]
Fair Value of Financial Instruments (Details) - Schedule of Fair Value Hierarchy of the Valuation Techniques [Line Items]
Fair Value
Significant Other Observable Inputs (Level 2) [Member]
Fair Value of Financial Instruments (Details) - Schedule of Fair Value Hierarchy of the Valuation Techniques [Line Items]
Fair Value	124,005	353,518
Significant Other Observable Inputs (Level 2) [Member] | Public Warrants [Member]
Fair Value of Financial Instruments (Details) - Schedule of Fair Value Hierarchy of the Valuation Techniques [Line Items]
Fair Value
Significant Other Observable Inputs (Level 2) [Member] | Private Placement Warrants [Member]
Fair Value of Financial Instruments (Details) - Schedule of Fair Value Hierarchy of the Valuation Techniques [Line Items]
Fair Value	124,005	353,518
Significant Other Observable Inputs (Level 2) [Member] | Forward Purchase Agreement Liability [Member]
Fair Value of Financial Instruments (Details) - Schedule of Fair Value Hierarchy of the Valuation Techniques [Line Items]
Fair Value
Significant Other Unobservable Inputs (Level 3) [Member]
Fair Value of Financial Instruments (Details) - Schedule of Fair Value Hierarchy of the Valuation Techniques [Line Items]
Fair Value	123,287	285,567
Significant Other Unobservable Inputs (Level 3) [Member] | Public Warrants [Member]
Fair Value of Financial Instruments (Details) - Schedule of Fair Value Hierarchy of the Valuation Techniques [Line Items]
Fair Value
Significant Other Unobservable Inputs (Level 3) [Member] | Private Placement Warrants [Member]
Fair Value of Financial Instruments (Details) - Schedule of Fair Value Hierarchy of the Valuation Techniques [Line Items]
Fair Value
Significant Other Unobservable Inputs (Level 3) [Member] | Forward Purchase Agreement Liability [Member]
Fair Value of Financial Instruments (Details) - Schedule of Fair Value Hierarchy of the Valuation Techniques [Line Items]
Fair Value	$ 123,287	$ 285,567

Fair Value of Financial Instr_5

Fair Value of Financial Instruments (Details) - Schedule of the Fair Value of the Forward Purchase Agreement Liability - USD ($)	3 Months Ended
	Jun. 30, 2023	Mar. 30, 2023	Jun. 30, 2022	Mar. 30, 2022
Schedule of the Fair Value of the Forward Purchase Agreement Liability Measured Using Level3 Inputs [Abstract]
Forward purchase agreement liability, Beginning balance		$ 285,567		$ 1,726,908
Change in fair value	$ (167,724)	5,444	$ (110,823)	161,031
Forward purchase agreement liability, Ending balance	$ 123,287	$ 291,011	$ 1,777,116	$ 1,887,939

Fair Value of Financial Instr_6

Fair Value of Financial Instruments (Details) - Schedule of the Company’s Liabilities That are Measured at Fair Value on a Recurring Basis - $ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Private Placement Warrants [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Exercise price (in Dollars per share)	$ 11.5	$ 11.5
Volatility	6.90%	4.60%
Expected term	5 years 9 months 21 days	5 years 21 days
Risk-free rate	3.98%	3.91%
Probability of acquisition	1.25%	7.50%
Dividend yield	0%	0%
Forward Purchase Units [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Exercise price (in Dollars per share)	$ 10	$ 10
Volatility
Expected term	9 months 21 days	21 days
Risk-free rate	5.28%	4.04%
Probability of acquisition	1.25%	7.50%
Dividend yield	0%	0%

Stockholder_s Equity (Details)

Stockholder’s Equity (Details) - $ / shares	6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Stockholders' Equity [Abstract]
Preferred stock, shares authorized	1,000,000		1,000,000
Preferred stock, par value (in Dollars per share)	$ 0.0001		$ 0.0001
Preferred stock, shares issued
Preferred stock, shares outstanding
Class A common stock [Member]
Stockholders' Equity [Abstract]
Shares authorized	200,000,000
Common stock, par value (in Dollars per share)	$ 0.0001
Common stock, voting rights	one
Common stock shares issued	57,500		57,500
Common stock shares outstanding	57,500		57,500
Temporary equity, shares authorized	3,972,003		11,500,000
Class B common stock [Member]
Stockholders' Equity [Abstract]
Shares authorized	200,000,000
Common stock, par value (in Dollars per share)	$ 0.0001
Common stock, voting rights	one
Common stock shares issued		2,875,000	2,875,000
Common stock shares outstanding		2,875,000	2,875,000

Subsequent Events (Details)

Subsequent Events (Details) - First Extension Promissory Note [Member] - Subsequent Event [Member] - USD ($)		1 Months Ended
	Jul. 18, 2023	Jul. 31, 2023
Subsequent Events (Details) [Line Items]
Sponsor loaned	$ 120,000
Percentage of interest rate		8%