Jet.AI (JTAI) 10-Q 12 May 23 2023 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2023	May 12, 2023
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2023
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Entity File Number	001-40725
Entity Registrant Name	OXBRIDGE ACQUISITION CORP.
Entity Central Index Key	0001861622
Entity Tax Identification Number	98-1615951
Entity Incorporation, State or Country Code	E9
Entity Address, Address Line One	Suite 201
Entity Address, Address Line Two	42 Edward Street
Entity Address, Address Line Three	George Town
Entity Address, City or Town	Grand Cayman
Entity Address, Country	KY
Entity Address, Postal Zip Code	KY1-9006
City Area Code	(345)
Local Phone Number	749-7570
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Entity Shell Company	true
Units, each consisting of one ordinary share and one redeemable warrant
Title of 12(b) Security	Units, each consisting of one ordinary share and one redeemable warrant
Trading Symbol	OXACU
Security Exchange Name	NASDAQ
Ordinary Shares, par value $0.0001 per share
Title of 12(b) Security	Ordinary shares, par value $0.0001 per share
Trading Symbol	OXAC
Security Exchange Name	NASDAQ
Warrants each exercisable for one ordinary share
Title of 12(b) Security	Warrants, each exercisable for one ordinary share
Trading Symbol	OXACW
Security Exchange Name	NASDAQ
Common Class A [Member]
Entity Common Stock, Shares Outstanding		1,301,952
Common Class B [Member]
Entity Common Stock, Shares Outstanding		2,875,000

Condensed Balance Sheets

Condensed Balance Sheets - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Assets
Cash	$ 66,391	$ 211,718
Accrued interest, prepaid expenses and other receivables	24,925	3,593
Marketable securities held in Trust Account	12,970,811	12,834,629
Total Current Assets	13,062,127	13,049,940
Current liabilities
Accrued expenses	340,155	97,981
Total current liabilities	340,155	101,842
Promissory note payable	575,000	575,000
Deferred underwriting commissions	4,025,000	4,025,000
Derivative warrant liabilities	759,021	369,902
Total liabilities	5,699,176	5,071,744
Commitments and Contingencies
Class A ordinary shares; 1,186,952 shares subject to possible redemption (at redemption value)	12,970,811	12,834,629
Shareholders’ Deficit:
Preference shares, $0.0001 par value; 4,000,000 shares authorized; none issued and outstanding
Accumulated Deficit	(5,608,148)	(4,856,721)
Total shareholders’ deficit	(5,607,860)	(4,856,433)
Total Liabilities, Ordinary Shares Subject to Possible Redemption, and Shareholders’ Deficit	13,062,127	13,049,940
Common Class A [Member]
Current liabilities
Class A ordinary shares; 1,186,952 shares subject to possible redemption (at redemption value)	12,970,000
Shareholders’ Deficit:
Common stock
Common Class B [Member]
Shareholders’ Deficit:
Common stock	288	288
Related Party [Member]
Current liabilities
Due to affiliates		$ 3,861

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
Temporary equity possible redemption	1,186,952	1,186,952
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	4,000,000	4,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 18
Common Class A [Member]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	115,000	115,000
Common stock, shares outstanding	115,000	115,000
Common stock redemption shares	1,186,952	1,186,952
Common Class B [Member]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	2,875,000	2,875,000
Common stock, shares outstanding	2,875,000	2,875,000

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Expenses
General and administrative expenses	$ (363,654)	$ (56,158)
Loss from operations	(363,654)	(56,158)
Change in fair value of warrant liabilities	(389,119)	3,420,640
Other income
Other interest income	1,346	220
Income earned on marketable securities held in trust account	136,182
Net (loss) income	$ (615,245)	$ 3,364,702
(Loss) Earnings per share:
Basic weighted average shares outstanding	4,176,952	14,490,000
Diluted weighted average shares outstanding	4,176,952	14,490,000
Basic and diluted net (loss) earnings per ordinary share	$ (0.15)	$ 0.23

Condensed Statements of Changes

Condensed Statements of Changes in Shareholders' Deficit (Unaudited) - USD ($)	Common Stock [Member] Common Class A [Member]	Common Stock [Member] Common Class B [Member]	Retained Earnings [Member]	Common Class A [Member]	Common Class B [Member]	Total
Balance at Dec. 31, 2021		$ 288	$ (10,498,112)			$ (10,497,824)
Balance, shares at Dec. 31, 2021	115,000	2,875,000
Net loss			3,364,702	$ 2,697,102	$ 667,600	3,364,702
Balance at Mar. 31, 2022		$ 288	(7,133,410)			(7,133,122)
Balance, shares at Mar. 31, 2022	115,000	2,875,000
Balance at Dec. 31, 2022		$ 288	(4,856,721)			(4,856,433)
Balance, shares at Dec. 31, 2022	115,000	2,875,000
Net loss			(615,245)	$ (191,771)	$ (423,474)	(615,245)
Accretion for Class A Ordinary Shares to redemption amount			(136,182)			(136,182)
Balance at Mar. 31, 2023		$ 288	$ (5,608,148)			$ (5,607,860)
Balance, shares at Mar. 31, 2023	115,000	2,875,000

Condensed Statements of CashFlo

Condensed Statements of CashFlows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from Operating Activities:
Net (loss) income	$ (615,245)	$ 3,364,702
Adjustments to reconcile net (loss) income to cash used in operating activities
Change in fair value of warrant liabilities	389,119	(3,420,640)
Income earned on marketable securities held in Trust Account	(136,182)
Changes in operating assets and liabilities:
Accrued interest, prepaid expenses and other receivables	(21,332)	(48,570)
Due to affiliates	(3,861)	34,745
Accrued expenses	242,174	9,743
Net cash used in operating activities	(145,327)	(60,020)
Net Change in Cash	(145,327)	(60,020)
Cash – Beginning of period	211,718	614,395
Cash – Ending of period	66,391	554,375
Supplemental disclosure of non-cashflow information
Accretion for Class A ordinary shares to redemption amount	$ 136,182

Description of Organization and

Description of Organization and Business Operations	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Organization and Business Operations	Note 1— Description of Organization and Business Operations Oxbridge Acquisition Corp. (the “Company”) was incorporated as a Cayman Islands exempted company on April 12, 2021. The Company was incorporated for the purpose of effecting a merger, capital stock or share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses (the “Business Combination”). The Company is an emerging growth company and, as such, the Company is subject to all of the risks associated with emerging growth companies. As of March 31, 2023, the Company had not commenced any operations. All activity for the period from April 12, 2021 (inception) through March 31, 2023 relates to the Company’s formation and the initial public offering (the “Initial Public Offering” or “IPO”) described below, and subsequent to the Initial Public Offering, identifying a target company for a Business Combination. The Company will not generate any operating revenues until after the completion of its initial Business Combination, at the earliest. The Company may generate non-operating income in the form of interest and dividend income on marketable securities from the proceeds derived from the Initial Public Offering (as defined below). The Company has selected December 31 as its fiscal year end. The Company’s sponsor is OAC Sponsor Ltd., a Cayman Islands exempted company (the “Sponsor”). The registration statement for the Company’s Initial Public Offering was declared effective on August 11, 2021. On August 16, 2021, the Company consummated its IPO of 10,000,000 10.00 100,000,000 6,624,000 3,500,000 1,500,000 15,000,000 825,000 525,000 Simultaneously with the closing of the IPO, the Company consummated the sale of 5,760,000 1.00 5,760,000 11.50 Upon the closing of the Initial Public Offering, the Over-Allotment and the Private Placement, $ 116,725,000 10.15 On November 9, 2022, the Company held an extraordinary general meeting (the “EGM”) of shareholders. At the EGM, the Company’s shareholders were presented the proposals to extend the date by which the Company must consummate a business combination (the “Termination Date”) from November 16, 2022 to August 16, 2023 (or such earlier date as determined by the Board of Directors) by amending the Company’s Amended and Restated Memorandum and Articles of Association (the “Extension Amendment Proposal”). The Extension Amendment Proposal to amend the Company’s Amended and Restated Memorandum and Articles of Association (“Charter Amendment”) was approved. The Company filed the Charter Amendment with the Cayman Islands Registrar of Companies on November 11, 2022. In connection with the vote to approve the Extension Amendment Proposal, the holders of 10,313,048 10.22 105,424,960 The Sponsor agreed to contribute to us a loan of $ 575,000 575,000 We have until August 16, 2023 to complete the initial Business Combination (the “Combination Period”). However, if we are unable to complete the initial Business Combination within the Combination Period, we will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account including interest earned on the funds held in the trust account and not previously released to us to pay the our taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding public shares, which redemption will completely extinguish public shareholders’ rights as shareholders (including the right to receive further liquidating distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining shareholders and board of directors, liquidate and dissolve, subject in each case to our obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law. At March 31, 2023, approximately $ 12.97 1,186,952 10.92 The Company’s management has broad discretion with respect to the specific application of the net proceeds of the Initial Public Offering and the sale of Private Placement Warrants, although substantially all of the net proceeds are intended to be applied generally toward consummating a Business Combination. There is no assurance that the Company will be able to complete a Business Combination successfully. The Company must complete one or more initial Business Combinations having an aggregate fair market value of at least 80% of the net assets held in the Trust Account (as defined below) (excluding the amount of deferred underwriting commissions and taxes payable on the interest earned on the Trust Account) at the time of the signing of the agreement to enter into the initial Business Combination. However, the Company will only complete a Business Combination if the post-transaction company owns or acquires 50% or more of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment company under the Investment Company Act of 1940, as amended (the “Investment Company Act”). OXBRIDGE ACQUISITION CORP. NOTES TO CONDENSED FINANCIAL STATEMENTS MARCH 31, 2023 (Unaudited) Note 1—Description of Organization and Business Operations (continued) The Company will provide the holders (the “Public Shareholders”) of its Public Shares, with the opportunity to redeem all or a portion of their Public Shares upon the completion of a Business Combination either (i) in connection with a shareholder meeting called to approve the Business Combination or (ii) by means of a tender offer. The decision as to whether the Company will seek shareholder approval of a Business Combination or conduct a tender offer will be made by the Company, solely in its discretion. The Public Shareholders will be entitled to redeem their Public Shares for a pro rata portion of the amount then in the Trust Account (anticipated to be approximately $ 11.07 5,000,001 Notwithstanding the foregoing, the Amended and Restated Memorandum and Articles of Association provides that a Public Shareholder, together with any affiliate of such shareholder or any other person with whom such shareholder 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 redeeming its shares with respect to more than an aggregate of 15% or more of the Class A ordinary shares sold in the Initial Public Offering, without the prior consent of the Company. The Company’s Sponsor (the “Initial Shareholder”) officers and directors have agreed not to propose an amendment to Amended and Restated Memorandum and Articles of Association (A) that would modify the substance or timing of the Company’s obligation to allow redemption in connection with our initial business combination or to redeem 100% of its Public Shares if the Company does not complete a Business Combination by August 16, 2023, as described in more detail in the prospectus for the IPO) (the “Combination Period”) or (B) with respect to any other provision relating to shareholders’ rights or pre-initial Business Combination activity, unless the Company provides the Public Shareholders with the opportunity to redeem their Class A ordinary shares in conjunction with any such amendment. OXBRIDGE ACQUISITION CORP. NOTES TO CONDENSED FINANCIAL STATEMENTS MARCH 31, 2023 (Unaudited) Note 1—Description of Organization and Business Operations (continued) If the Company is unable to complete a Business Combination within the Combination Period, the Company will (i) cease all operations except for the purpose of winding up; (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest (which interest shall be net of taxes payable and up to $ 100,000 The Initial Shareholder, officers and directors have agreed to waive their liquidation rights with respect to the Founder Shares if the Company fails to complete a Business Combination within the Combination Period. However, if the Initial Shareholder or members of the Company’s management team acquire Public Shares in or after the Initial Public Offering, they will be entitled to liquidating distributions from the Trust Account with respect to such Public Shares if the Company fails to complete a Business Combination within the Combination Period. Maxim has agreed to waive their rights to its 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 other funds held in the Trust Account that will be available to fund the redemption of the Public Shares. In the event of such distribution, it is possible that the per share value of the residual assets remaining available for distribution (including Trust Account assets) will be approximately $ 11.07 OXBRIDGE ACQUISITION CORP. NOTES TO CONDENSED FINANCIAL STATEMENTS MARCH 31, 2023 (Unaudited) Note 1—Description of Organization and Business Operations (continued) Proposed Business Combination On February 24, 2023, Oxbridge Acquisition Corp. (“Oxbridge” or the “Acquiror”), entered into a Business Combination Agreement and Plan of Reorganization (the “Merger Agreement”) with OXAC Merger Sub I, Inc., a Delaware corporation and a direct wholly owned subsidiary of Oxbridge (“First Merger Sub”), Summerlin Aviation LLC (f/k/a OXAC Merger Sub II, LLC), a Delaware limited liability company and a direct wholly owned subsidiary of Oxbridge (“Second Merger Sub”), and Jet Token, Inc., a Delaware corporation (“Jet Token”), pursuant to which the Company will redomicile as a Delaware corporation and immediately The aggregate consideration payable to the stockholders of Jet.AI at the closing of the Proposed Business Combination (the “ Closing 105,000,000 4,500,000 0.0001 Common Stock 10.00 60,000,000 60,000,000 As consideration for the Mergers, at the Effective Time, each share of Company Common Stock issued and outstanding immediately prior to the Effective Time (including shares of Company Common Stock resulting from the Company Preferred Stock Conversion) shall be canceled and converted into the right to receive: (i) the number of shares of Domesticated Acquiror Common Stock equal to the Stock Exchange Ratio (the “Per Share Stock Merger Consideration”), plus (ii) a warrant (each, an “Merger Consideration Warrant”) to acquire the number of shares of Domesticated Acquiror Common Stock equal to the Warrant Exchange Ratio (the “Per Share Warrant Merger Consideration”; and together with the Per Share Stock Merger Consideration, the “Per Share Merger Consideration”), with each Merger Consideration Warrant being exercisable during the ten-year period following the Effective Time at an exercise price of $ 15.00 The Merger Agreement contains customary representations, warranties and covenants by the parties thereto, including, among other things, covenants with respect to the conduct of the Company and Jet Token during the period between execution of the Merger Agreement and the Closing. The representations, warranties and covenants made under the Merger Agreement will not survive the closing; provided, any covenants that are to be performed at or after the closing shall survive until such covenant has been performed or satisfied. No party to the Merger Agreement will have any liabilities to such other parties, other than claims for willful and material breach or fraud. Each of the Company and Jet Token have agreed to use their commercially reasonable efforts to cause the Merger to be consummated as soon as practicable. The closing of the Proposed Business Combination is subject to certain conditions, including, among others, that (i) the stockholders of Jet Token and the stockholders of the Company approve the Proposed Business Combination, (ii) the Nasdaq Stock Market approves for listing the common stock to be issued in connection with the Proposed Business Combination, and (iii) the Company has $ 5,000,001 OXBRIDGE ACQUISITION CORP. NOTES TO CONDENSED FINANCIAL STATEMENTS MARCH 31, 2023 (Unaudited) Note 1—Description of Organization and Business Operations (continued) Proposed Business Combination (continued) The Merger Agreement may be terminated prior to the closing under certain circumstances, including, among others, (i) by written consent of Jet Token and the Company, (ii) by written notice from either the Company or Jet Token, if (A) the closing has not occurred on or before July 1, 2023 (the “Outside Date”), unless the terminating party’s failure to comply in any material respect with its obligations under the Merger Agreement shall have proximately contributed to the failure of the closing to have occurred on or prior to the Outside Date, (iii) the Company or Jet Token does not obtain stockholder approval of the Proposed Business Combination at its special meeting, (iii) by written notice from either the Company or Jet Token, in the event that the other party breaches any of its representations, warranties, covenants or other agreements under the Merger Agreement that would result in the failure of the conditions to the Company’s or Jet Token’s obligation to consummate the Proposed Business Combination and such breach has not been cured by the breaching party by the earlier of 30 days after receiving notice of such breach. During the Three Months ended March 31, 2023, the Company incurred approximately $ 251 ,000 Going Concern In connection with the Company’s assessment of going concern considerations in accordance GAAP, management has determined that if the Company is unable to raise additional funds to alleviate liquidity needs as well as complete a Business Combination by August 16, 2023, then the Company will cease all operations except for the purpose of liquidating. The liquidity condition and date for mandatory liquidation and subsequent dissolution raise 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 August 16, 2023. Management’s plans to address this need for capital through potential loans from certain of our affiliates. However, our affiliates are not obligated to make loans to us in the future, and we may not be able to raise additional financing from unaffiliated parties necessary to fund our expenses. Liquidity and Capital Resources As of March 31, 2023 the Company had cash of approximately $ 66,000 249,000 OXBRIDGE ACQUISITION CORP. NOTES TO CONDENSED FINANCIAL STATEMENTS MARCH 31, 2023 (Unaudited)

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2— Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed 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. In the opinion of management, the accompanying unaudited condensed financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented. The accompanying unaudited condensed financial statements should be read in conjunction with the Company’s Form S-1 which contains the initial audited financial statements and notes thereto for the period from April 12, 2021 (inception) to April 16, 2021 as filed with the SEC on July 19, 2021 and the Form 10-K’s as filed with the SEC on March 30, 2022 and February 22, 2023. The interim results for the three-month period ended March 31, 2023 are not necessarily indicative of the results to be expected for the year ending December 31, 2023 or for any future interim periods. Emerging Growth Company The Company is an “emerging growth company,” as defined in Section 2(a) of 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 are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, 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 Jumpstart Our Business Startups Act of 2012 (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 an emerging growth company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such an election to opt out is irrevocable. The Company has elected not to opt out of such 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 comparison of the Company’s financial statement 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. OXBRIDGE ACQUISITION CORP. NOTES TO CONDENSED FINANCIAL STATEMENTS MARCH 31, 2023 (Unaudited) Note 2—Summary of Significant Accounting Policies (continued) Use of Estimates The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statement and the reported amounts of expenses during the reporting period. Making estimates requires management to exercise significant judgement. 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 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. Material estimate that is particularly susceptible to significant change in the near-term relate to the fair value of the derivative warrant liabilities. Although considerable variability is likely to be inherent in this estimate, management believes that the amounts provided are reasonable. This estimate is continually reviewed and adjusted if necessary. Such adjustment is reflected in current operations. 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 of March 31, 2023, the Company had approximately $ 66,000 Marketable Securities Held in Trust Account At March 31, 2023, substantially all of the assets held in the Trust Account were held in money market funds which are invested primarily in U.S. Treasury securities. All of the Company’s investments held in the Trust Account are classified as trading securities. Trading securities are presented on the condensed balance sheets 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 as well as interest and dividends are included in income earned on marketable securities held in Trust Account in the accompanying condensed statements of operations. The estimated fair values of investments held in Trust Account are determined using available market information. Concentration of Credit Risk Financial instruments that subject the Company to concentrations of credit risk consist of cash accounts in a financial institution, which exceeds the Federal Depository Insurance Corporation coverage of $ 250,000 Offering Costs The Company accounts for offering costs in accordance with the requirements of ASC 340-10-S99-1. Offering costs consist of legal, accounting, underwriting fees and other costs that are directly related to the IPO. Offering costs associated with warrant liabilities are expensed, and offering costs associated with the Class A ordinary shares are recorded to shareholders’ deficit as a reduction of cash proceeds. Financial Instruments The fair value of the Company’s assets and liabilities, which qualify as financial instruments under the FASB ASC 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the balance sheet due to their short-term nature. OXBRIDGE ACQUISITION CORP. NOTES TO CONDENSED FINANCIAL STATEMENTS MARCH 31, 2023 (Unaudited) Note 2—Summary of Significant Accounting Policies (continued) 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. The following is a description of the valuation methodologies used for assets and liabilities measured at fair value: Money Market Funds Valued at the daily closing price as reported by the fund. Money market funds held by the Company are open-end funds that are registered with the Securities and Exchange Commission. These funds are required to publish their daily net asset value (“NAV”) and to transact at the price. The funds are deemed to be actively traded. Derivative Warrant Liabilities The fair value of the Private Placement Warrants is based on the Black Scholes option pricing model utilizing various assumptions based on management’s judgment. Significant deviations from management’s estimates and inputs could result in a material change in fair value. As such, the fair value of the Private Placement Warrants is classified as Level 3. The fair value of the Public Warrants is classified as Level 1 due to the use of an observable market price in an active market. There have been no changes in the methodologies used at March 31, 2023 or December 31, 2022. See Note 7 for additional information on assets and liabilities measured at fair value. 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, “Derivatives and Hedging” (“ASC 815”). The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, will be re-assessed at the end of each reporting period. Derivative warrant liabilities will be 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. The 17,260,000 11,500,000 5,760,000 OXBRIDGE ACQUISITION CORP. NOTES TO CONDENSED FINANCIAL STATEMENTS MARCH 31, 2023 (Unaudited) Note 2—Summary of Significant Accounting Policies (continued) Class A Ordinary Shares Subject to Possible Redemption As of March 31, 2023, there were 1,301,952 1,186,952 (Loss) Earnings Per Ordinary Share The Company complies with accounting and disclosure requirements of FASB ASC 260, “Earnings Per Share”. (Loss) earnings per ordinary share is computed by dividing (loss) earnings by the weighted average number of ordinary shares outstanding during the period. The Company has two classes of ordinary shares, Class A ordinary shares and Class B ordinary shares. Income and losses are shared pro rata between the two classes of shares. This presentation contemplates a Business Combination as the most likely outcome, in which case, both classes of shares share pro rata in the income/loss of the Company. Accretion associated with the redeemable shares of Class A ordinary shares is excluded from earnings per share as the redemption value approximates fair value. At March 31, 2023, the Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into ordinary shares and then share in the loss of the Company. As a result of the net loss, any potentially dilutive securities would be considered anti-dilutive. As a result, diluted loss per share is the same as basic loss per share for the period ended March 31, 2023. At March 31, 2022, the Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into ordinary shares and then share in the earnings of the Company due to the exercise price exceeding the average market price of the Company’s ordinary shares during the period ended March 31, 2022. As a result, diluted earnings per share is the same as basic earnings per share for the period ended March 31, 2022. The following table reflects the calculation of basic and diluted net (loss) earnings per share (in dollars, except per share amounts): Schedule of Basic and Diluted Net Loss Per Share Class A Class B Class A Class B For Three Months Ended March 31 2023 2022 Class A Class B Class A Class B Basic and diluted (loss) earnings per ordinary share Numerator: Allocation of net (loss) earnings $ (191,771 ) $ (423,474 ) $ 2,697,102 $ 667,600 Denominator: Basic and diluted weighted average shares outstanding 1,301,952 2,875,000 11,615,000 2,875,000 Basic and diluted net (loss) earnings $ (0.15 ) $ (0.15 ) $ 0.23 $ 0.23 OXBRIDGE ACQUISITION CORP. NOTES TO CONDENSED FINANCIAL STATEMENTS MARCH 31, 2023 (Unaudited) Note 2—Summary of Significant Accounting Policies (continued) Income Taxes The Company follows the asset and liability method of accounting for income taxes under FASB ASC 740, “Income Taxes.” Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that included the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC Topic 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’s management determined that the Cayman Islands is the Company’s major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. As of March 31, 2023, there were no unrecognized tax benefits and no amounts accrued for interest and penalties. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. 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 is considered to be an exempted Cayman Islands company with no connection to any other taxable jurisdiction and is presently not subject to income taxes or income tax filing requirements in the Cayman Islands or the United States. As such, the Company’s tax provision was zero for the period presented. Recent Accounting Pronouncements Management does not believe that any recently issued, but not effective, accounting standards, if currently adopted, would have a material effect on the Company’s financial statements.

Initial Public Offering

Initial Public Offering	3 Months Ended
	Mar. 31, 2023
Initial Public Offering
Initial Public Offering	Note 3— Initial Public Offering On August 16, 2021, the Company consummated its IPO of 10,000,000 10.00 100,000,000 6,624,000 3,500,000 1,500,000 10.00 1,500,000 15,000,000 825,000 525,000 Each Unit consists of one Class A ordinary share, and one redeemable warrant (each, a “Public Warrant”). Each Public Warrant entitles the holder to purchase one Class A ordinary share at a price of $ 11.50 OXBRIDGE ACQUISITION CORP. NOTES TO CONDENSED FINANCIAL STATEMENTS MARCH 31, 2023 (Unaudited)

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Note 4— Related Party Transactions Founder Shares On April 12, 2021, the Sponsor paid $ 25,000 0.009 2,875,000 0.0001 The Initial Shareholder have agreed, subject to limited exceptions, not to transfer, assign or sell any of their Founder Shares until the earlier to occur of: (i) one year after the completion of the initial Business Combination or (ii) the date following the completion of the initial Business Combination on which the Company completes a liquidation, merger, share exchange or other similar transaction that results in all of the shareholders having the right to exchange their ordinary shares for cash, securities or other property. Notwithstanding the foregoing, if the closing price of the Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share sub-divisions, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 120 days after the initial Business Combination, the Founder Shares will be released from the lockup. Private Placement Warrants Simultaneously with the closing of the Initial Public Offering, the Company consummated the Private Placement of an 5,760,000 1.00 5,760,000 Certain proceeds from the Private Placement Warrants were added to the proceeds from the Initial Public Offering to be held in the Trust Account. If the Company does not complete a Business Combination within the Combination Period, the Private Placement Warrants will expire worthless. The Private Placement Warrants will be non-redeemable and exercisable on a cashless basis so long as they are held by the Sponsor or its permitted transferees. OXBRIDGE ACQUISITION CORP. NOTES TO CONDENSED FINANCIAL STATEMENTS MARCH 31, 2023 (Unaudited) Note 4—Related Party Transactions (continued) Working Capital Loans In order to finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor, other Initial Shareholder, or certain of the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required (“Working Capital Loans”). If the Company completes a Business Combination, the Company would repay the Working Capital Loans. 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. Except for the foregoing, the terms of such Working Capital Loans, if any, have not been determined and no written agreements exist with respect to such loans. The Working Capital Loans would either be repaid upon consummation of a Business Combination, without interest, or, at the lender’s discretion, up to $ 1,500,000 1.00 Administrative Services Agreement Commencing on the effective date of the Company’s IPO, the Company agreed to pay its Sponsor a total of up to $ 10,000 50,000 20,000 Extension Amendment Proposal and Promissory Note On November 9, 2022, the Company held an extraordinary general meeting (the “EGM”) of shareholders. At the EGM, the Company’s shareholders were presented the proposals to extend the date by which the Company must consummate a business combination (the “Termination Date”) from November 16, 2022 to August 16, 2023 (or such earlier date as determined by the Board of Directors) by amending the Company’s Amended and Restated Memorandum and Articles of Association (the “Extension Amendment Proposal”). The Extension Amendment Proposal to amend the Company’s Amended and Restated Memorandum and Articles of Association (“Charter Amendment”) was approved. The Company filed the Charter Amendment with the Cayman Islands Registrar of Companies on November 11, 2022. In connection with the vote to approve the Extension Amendment Proposal, the holders of 10,313,048 10.22 105,424,960 The sponsor has agreed to contribute to us a loan of $ 575,000 575,000 The Extension Note bears no interest and is repayable in full upon the earlier of (a) the date of the consummation of an initial business combination, or (b) the date of the liquidation of the Company. OXBRIDGE ACQUISITION CORP. NOTES TO CONDENSED FINANCIAL STATEMENTS MARCH 31, 2023 (Unaudited)

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 5— Commitments and Contingencies Registration Rights The holders of Founder Shares, Private Placement Warrants, and securities that may be issued upon conversion of Working Capital Loans, if any, are entitled to registration rights pursuant to a registration and shareholder rights agreement. The holders of these securities are entitled to make up to three demands, excluding short form demands, that the Company registers such securities. In addition, these holders will have certain “piggy-back” registration rights with respect to registration statements filed subsequent to the completion of the initial Business Combination. The Company will bear the expenses incurred in connection with the filing of any such registration statements. Underwriting Agreement The Company granted the underwriters a 45-day option from the final prospectus relating to the Initial Public Offering to purchase up to 1,500,000 The underwriters were entitled to an underwriting discount of $ 0.20 2.0 2.3 0.35 3.5 4.03 Risks and Uncertainties 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, have instituted economic sanctions against the Russian Federation and Belarus. The impact of this action and related sanctions on the world economy are not determinable as of the date of this report 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 this Quarterly Report on Form 10-Q.

Derivative Warrant Liabilities

Derivative Warrant Liabilities	3 Months Ended
	Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Warrant Liabilities	Note 6 – Derivative Warrant Liabilities As of March 31, 2023, the Company had 11,500,000 5,760,000 The Public Warrants will become exercisable on the later of (a) 30 days after the consummation of a Business Combination or (b) 12 months from the closing of the IPO. The Public Warrants will expire five years from the consummation of a Business Combination or earlier upon redemption or liquidation. The Company will not be obligated to deliver any Class A ordinary shares 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 covering the issuance of the Class A ordinary shares issuable upon exercise of 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 for cash or on a cashless basis, and the Company will not be obligated to issue any shares to holders seeking to exercise their Public Warrants, unless the issuance of the shares upon such exercise is registered or qualified under the securities laws of the state of the exercising holder, or an exemption from registration is available. OXBRIDGE ACQUISITION CORP. NOTES TO CONDENSED FINANCIAL STATEMENTS MARCH 31, 2023 (Unaudited) Note 6 – Derivative Warrant Liabilities (continued) The Company has agreed that as soon as practicable, but in no event later than 15 business days, after the closing of a Business Combination, it will use its best efforts to file with the SEC a registration statement registering the issuance, under the Securities Act, of the Class A ordinary shares issuable upon exercise of the Public Warrants. The Company will use its best efforts to file with the SEC a registration statement covering the shares of Class A ordinary shares issuable upon exercise of the warrants, to cause such registration statement to become effective and to maintain a current prospectus relating to those shares of Class A ordinary shares until the warrants expire or are redeemed, as specified in the warrant agreement. If a registration statement covering the shares of Class A ordinary shares issuable upon exercise of the warrants is not effective by the 60 th Redemption of Warrants for Cash When the Price per Class A Ordinary Share Equals or Exceeds $18.00 Once the Public Warrants become exercisable, the Company may call the Public Warrants for redemption ● in whole and not in part; ● at a price of $ 0.01 ● upon not less than 30 days’ prior written notice of redemption to each warrant holder and ● if, and only if, the reported last sale price of the Class A ordinary shares equals or exceeds $ 18.00 If and when the Public Warrants become redeemable by the Company, the Company may not exercise its redemption right if the issuance of ordinary shares upon exercise of the warrants is not exempt from registration or qualification under applicable state blue sky laws or the Company is unable to effect such registration or qualification. The exercise price and number of shares of Class A ordinary shares issuable upon exercise of the warrants may be adjusted in certain circumstances including in the event of a share dividend, or recapitalization, reorganization, merger or consolidation. 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 and the Company liquidates the funds held in the Trust Account, holders of warrants will not receive any of such funds with respect to their warrants, nor will they receive any distribution from the Company’s assets held outside of the Trust Account with the respect to such warrants. Accordingly, the warrants may expire worthless. If the Company calls the Public Warrants for redemption, 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 number of common shares issuable upon exercise of the Public Warrants may be adjusted in certain circumstances including in the event of a share dividend, extraordinary dividend or recapitalization, reorganization, merger or consolidation. OXBRIDGE ACQUISITION CORP. NOTES TO CONDENSED FINANCIAL STATEMENTS MARCH 31, 2023 (Unaudited) Note 6 – Derivative Warrant Liabilities (continued) In addition, if (x) the Company issues additional shares of Class A ordinary shares or equity-linked securities for capital raising purposes in connection with the closing of its initial Business Combination at an issue price or effective issue price of less than $9.20 per Class A ordinary share (with such issue price or effective issue price to be determined in good faith by the Company’s 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 Company’s initial Business Combination on the date of the consummation of such initial Business Combination (net of redemptions), and (z) the volume weighted average trading price of the Company’s ordinary shares during the 20 trading day period starting on the trading day prior to the day on which the Company consummates its initial Business Combination (such price, the “Market Value”) is below $9.20 per share, the exercise price of the 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 above will be adjusted (to the nearest cent) to be equal to 180% of the greater of the Market Value and the Newly Issued Price. The Private Placement Warrants are identical to the Public Warrants underlying the Units sold in the IPO, except that the Private Placement Warrants and the ordinary shares issuable upon exercise of the Private Placement Warrants, so long as they are held by the Initial Shareholders or their permitted transferees, (i) will not be redeemable by the Company, (ii) may not (including the Class A ordinary shares issuable upon exercise of these warrants), subject to certain limited exceptions, be transferred, assigned or sold by the holders until 30 days after the completion of the initial Business Combination, (iii) may be exercised by the holders on a cashless basis and (iv) will be entitled to registration rights. If the Private Placement Warrants are held by holders other than the Sponsor or its permitted transferees, the Private Placement Warrants will be redeemable by the Company and exercisable by the holders on the same basis as the Public Warrants. The Company has accounted for the 17,260,000 warrants issued in connection with the Initial Public Offering (including 11,500,000 Public Warrants and 5,760,000 Private Placement Warrants) in accordance with the guidance contained in ASC 815-40. The warrant agreement contains an Alternative Issuance provision that if less than 70 OXBRIDGE ACQUISITION CORP. NOTES TO CONDENSED FINANCIAL STATEMENTS MARCH 31, 2023 (Unaudited) Note 6 – Derivative Warrant Liabilities (continued) The Company believes that the adjustments to the exercise price of the warrants is 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 the closing of the Initial Public Offering. Accordingly, the Company classifies each warrant as a liability at its fair value and the warrants will be allocated a portion of the proceeds from the issuance of the Units equal to its fair value determined using Black-Scholes option pricing model. This liability is subject to re-measurement at each balance sheet date. With each such re-measurement, the warrant liability will be adjusted to fair value, with the change in fair value recognized in the Company’s statements of operations. For the three-month periods ending March 31, 2023 and 2022, the Company recognized a (loss)/gain on revaluation of approximately ($ 0.39 3.4

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 7 - Fair Value Measurements The following table presents information about the Company’s financial assets and liabilities that are measured at fair value on a recurring basis as of March 31, 2023 and December 31, 2022, by level within the fair value hierarchy: Schedule of Fair Value Liabilities Measured on Recurring Basis Fair Value Measurements Using At March 31, 2023 (Level 1) (Level 2) (Level 3) Total Description Assets Marketable securities held in trust account $ 12,970,811 $ - $ - $ 12,970,811 Liabilities: Warrant liabilities - public warrants $ 754,400 $ - $ - $ 754,400 Warrant liabilities - private warrants $ - $ - $ 4,621 $ 4,621 Fair Value Measurements Using At December 31, 2022 (Level 1) (Level 2) (Level 3) Total Description Assets Marketable securities held in trust account $ 12,834,629 $ - $ - $ 12,834,629 Liabilities: Warrant liabilities - public warrants $ 368,000 $ - $ - $ 368,000 Warrant liabilities - private warrants $ - $ - $ 1,902 $ 1,902 The Public Warrants issued in connection with the Public Offering and the Private Placement Warrants were initially and subsequently measured at fair value using a Black-Scholes option pricing model. The subsequent measurement of the Public Warrants as of March 31, 2023 and December 31, 2022, are classified as Level 1 due to the use of an observable market quote in an active market. OXBRIDGE ACQUISITION CORP. NOTES TO CONDENSED FINANCIAL STATEMENTS MARCH 31, 2023 (Unaudited) Note 7 - Fair Value Measurements (continued) The Company utilizes a Black-Scholes model to value the Private Placement Warrants at each reporting period, with changes in fair value recognized in the statements of operations. The estimated fair value of the Private Placement Warrant liability is determined using Level 3 inputs. Inherent in the Black-Scholes option pricing model are assumptions related to expected stock-price volatility, expected life, risk-free interest rate and dividend yield. The Company estimates the volatility of its warrants based on historical volatility of its stock price. 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 Company used the modified extension date deadline of August 16, 2023, to determine the estimated life of the warrants. The dividend rate is based on the historical rate, which the Company anticipates remaining at zero. There were no transfers between Levels 1, 2 or 3 during the three-month periods ended March 31, 2023 and 2022. The following table provides quantitative information regarding Level 3 fair value measurements inputs as their measurement dates: Schedule of Fair Value Measurements At March 31, 2023 At December 31, 2022 Share price $ 10.71 $ 10.45 Exercise price $ 11.5 $ 11.5 Expected dividend yield 0 % 0 % Expected volatility 3.39 % 2.97 % Risk-free interest rate 4.95 % 4.85 % Expected life (in years) 0.42 0.67 The following table provides a reconciliation of changes in fair value of the beginning and ending balances for the liabilities classified as Level 3: Schedule of Fair Value Warrant Liabilities Private Placement Warrants Public Warrants Warrant Liabilities Fair value of Level 3 warrants at January 1, 2023 $ 1,902 $ - $ 1,902 Change in valuation inputs or other assumptions 2,719 - 2,719 Fair value of Level 3 warrants at March 31, 2023 $ 4,621 $ - $ 4,621 The following table presents the changes in the fair value of derivative warrant liabilities: Schedule of Fair Value Warrant Liabilities Private Placement Warrants Public Warrants Total Warrant Liabilities Fair value as of January 1, 2023 $ 1,902 $ 368,000 $ 369,902 Change in valuation inputs or other assumptions 2,719 386,400 389,119 Fair value as of March 31, 2023 $ 4,621 $ 754,400 $ 759,021 OXBRIDGE ACQUISITION CORP. NOTES TO CONDENSED FINANCIAL STATEMENTS MARCH 31, 2023 (Unaudited)

Shareholders_ Equity

Shareholders’ Equity	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Shareholders’ Equity	Note 8— Shareholders’ Equity Preference Shares 4,000,000 0.0001 no Class A Ordinary Shares 400,000,000 Class A ordinary shares with a par value of $ 0.0001 per share. Holders of the Company’s Class A ordinary shares are entitled to one vote for each share. As of March 31, 2023 and December 31, 2022, there were 1,301,952 Class A ordinary shares outstanding, of which 1,186,952 has been classified as temporary equity due to its redeemable nature. Class B Ordinary Shares 40,000,000 0.0001 2,875,000 The Class B ordinary shares will automatically convert into Class A ordinary shares at the time of the initial Business Combination on a one-for-one basis (as adjusted). In the case that additional Class A ordinary shares or equity-linked securities are issued or deemed issued in connection with the initial Business Combination, the number of Class A ordinary shares issuable upon conversion of all Founder Shares will equal, in the aggregate, 20

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	Note 9— Subsequent Events The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the financial statements were issued. Based upon this review, the Company did not identify any subsequent events that would have required adjustment or disclosure in the financial statements, except for as disclosed below. ADD – ISSUANCE OF NEW PROMISSORY NOTE; S-4 AMENDMENT (IF DONE BEFORE FILING DATE)

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed 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. In the opinion of management, the accompanying unaudited condensed financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented. The accompanying unaudited condensed financial statements should be read in conjunction with the Company’s Form S-1 which contains the initial audited financial statements and notes thereto for the period from April 12, 2021 (inception) to April 16, 2021 as filed with the SEC on July 19, 2021 and the Form 10-K’s as filed with the SEC on March 30, 2022 and February 22, 2023. The interim results for the three-month period ended March 31, 2023 are not necessarily indicative of the results to be expected for the year ending December 31, 2023 or for any future interim periods.
Emerging Growth Company	Emerging Growth Company The Company is an “emerging growth company,” as defined in Section 2(a) of 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 are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, 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 Jumpstart Our Business Startups Act of 2012 (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 an emerging growth company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such an election to opt out is irrevocable. The Company has elected not to opt out of such 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 comparison of the Company’s financial statement 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. OXBRIDGE ACQUISITION CORP. NOTES TO CONDENSED FINANCIAL STATEMENTS MARCH 31, 2023 (Unaudited) Note 2—Summary of Significant Accounting Policies (continued)
Use of Estimates	Use of Estimates The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statement and the reported amounts of expenses during the reporting period. Making estimates requires management to exercise significant judgement. 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 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. Material estimate that is particularly susceptible to significant change in the near-term relate to the fair value of the derivative warrant liabilities. Although considerable variability is likely to be inherent in this estimate, management believes that the amounts provided are reasonable. This estimate is continually reviewed and adjusted if necessary. Such adjustment is reflected in current operations.
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 of March 31, 2023, the Company had approximately $ 66,000
Marketable Securities Held in Trust Account	Marketable Securities Held in Trust Account At March 31, 2023, substantially all of the assets held in the Trust Account were held in money market funds which are invested primarily in U.S. Treasury securities. All of the Company’s investments held in the Trust Account are classified as trading securities. Trading securities are presented on the condensed balance sheets 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 as well as interest and dividends are included in income earned on marketable securities held in Trust Account in the accompanying condensed statements of operations. The estimated fair values of investments held in Trust Account are determined using available market information.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that subject the Company to concentrations of credit risk consist of cash accounts in a financial institution, which exceeds the Federal Depository Insurance Corporation coverage of $ 250,000
Offering Costs	Offering Costs The Company accounts for offering costs in accordance with the requirements of ASC 340-10-S99-1. Offering costs consist of legal, accounting, underwriting fees and other costs that are directly related to the IPO. Offering costs associated with warrant liabilities are expensed, and offering costs associated with the Class A ordinary shares are recorded to shareholders’ deficit as a reduction of cash proceeds.
Financial Instruments	Financial Instruments The fair value of the Company’s assets and liabilities, which qualify as financial instruments under the FASB ASC 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the balance sheet due to their short-term nature. OXBRIDGE ACQUISITION CORP. NOTES TO CONDENSED FINANCIAL STATEMENTS MARCH 31, 2023 (Unaudited) Note 2—Summary of Significant Accounting Policies (continued)
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. The following is a description of the valuation methodologies used for assets and liabilities measured at fair value:
Money Market Funds	Money Market Funds Valued at the daily closing price as reported by the fund. Money market funds held by the Company are open-end funds that are registered with the Securities and Exchange Commission. These funds are required to publish their daily net asset value (“NAV”) and to transact at the price. The funds are deemed to be actively traded.
Derivative Warrant Liabilities	Derivative Warrant Liabilities The fair value of the Private Placement Warrants is based on the Black Scholes option pricing model utilizing various assumptions based on management’s judgment. Significant deviations from management’s estimates and inputs could result in a material change in fair value. As such, the fair value of the Private Placement Warrants is classified as Level 3. The fair value of the Public Warrants is classified as Level 1 due to the use of an observable market price in an active market. There have been no changes in the methodologies used at March 31, 2023 or December 31, 2022. See Note 7 for additional information on assets and liabilities measured at fair value.
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, “Derivatives and Hedging” (“ASC 815”). The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, will be re-assessed at the end of each reporting period. Derivative warrant liabilities will be 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. The 17,260,000 11,500,000 5,760,000 OXBRIDGE ACQUISITION CORP. NOTES TO CONDENSED FINANCIAL STATEMENTS MARCH 31, 2023 (Unaudited) Note 2—Summary of Significant Accounting Policies (continued)
Class A Ordinary Shares Subject to Possible Redemption	Class A Ordinary Shares Subject to Possible Redemption As of March 31, 2023, there were 1,301,952 1,186,952
(Loss) Earnings Per Ordinary Share	(Loss) Earnings Per Ordinary Share The Company complies with accounting and disclosure requirements of FASB ASC 260, “Earnings Per Share”. (Loss) earnings per ordinary share is computed by dividing (loss) earnings by the weighted average number of ordinary shares outstanding during the period. The Company has two classes of ordinary shares, Class A ordinary shares and Class B ordinary shares. Income and losses are shared pro rata between the two classes of shares. This presentation contemplates a Business Combination as the most likely outcome, in which case, both classes of shares share pro rata in the income/loss of the Company. Accretion associated with the redeemable shares of Class A ordinary shares is excluded from earnings per share as the redemption value approximates fair value. At March 31, 2023, the Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into ordinary shares and then share in the loss of the Company. As a result of the net loss, any potentially dilutive securities would be considered anti-dilutive. As a result, diluted loss per share is the same as basic loss per share for the period ended March 31, 2023. At March 31, 2022, the Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into ordinary shares and then share in the earnings of the Company due to the exercise price exceeding the average market price of the Company’s ordinary shares during the period ended March 31, 2022. As a result, diluted earnings per share is the same as basic earnings per share for the period ended March 31, 2022. The following table reflects the calculation of basic and diluted net (loss) earnings per share (in dollars, except per share amounts): Schedule of Basic and Diluted Net Loss Per Share Class A Class B Class A Class B For Three Months Ended March 31 2023 2022 Class A Class B Class A Class B Basic and diluted (loss) earnings per ordinary share Numerator: Allocation of net (loss) earnings $ (191,771 ) $ (423,474 ) $ 2,697,102 $ 667,600 Denominator: Basic and diluted weighted average shares outstanding 1,301,952 2,875,000 11,615,000 2,875,000 Basic and diluted net (loss) earnings $ (0.15 ) $ (0.15 ) $ 0.23 $ 0.23 OXBRIDGE ACQUISITION CORP. NOTES TO CONDENSED FINANCIAL STATEMENTS MARCH 31, 2023 (Unaudited) Note 2—Summary of Significant Accounting Policies (continued)
Income Taxes	Income Taxes The Company follows the asset and liability method of accounting for income taxes under FASB ASC 740, “Income Taxes.” Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that included the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC Topic 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’s management determined that the Cayman Islands is the Company’s major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. As of March 31, 2023, there were no unrecognized tax benefits and no amounts accrued for interest and penalties. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. 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 is considered to be an exempted Cayman Islands company with no connection to any other taxable jurisdiction and is presently not subject to income taxes or income tax filing requirements in the Cayman Islands or the United States. As such, the Company’s tax provision was zero for the period presented.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Management does not believe that any recently issued, but not effective, accounting standards, if currently adopted, would have a material effect on the Company’s financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Schedule of Basic and Diluted Net Loss Per Share	The following table reflects the calculation of basic and diluted net (loss) earnings per share (in dollars, except per share amounts): Schedule of Basic and Diluted Net Loss Per Share Class A Class B Class A Class B For Three Months Ended March 31 2023 2022 Class A Class B Class A Class B Basic and diluted (loss) earnings per ordinary share Numerator: Allocation of net (loss) earnings $ (191,771 ) $ (423,474 ) $ 2,697,102 $ 667,600 Denominator: Basic and diluted weighted average shares outstanding 1,301,952 2,875,000 11,615,000 2,875,000 Basic and diluted net (loss) earnings $ (0.15 ) $ (0.15 ) $ 0.23 $ 0.23

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Schedule of Fair Value Liabilities Measured on Recurring Basis	The following table presents information about the Company’s financial assets and liabilities that are measured at fair value on a recurring basis as of March 31, 2023 and December 31, 2022, by level within the fair value hierarchy: Schedule of Fair Value Liabilities Measured on Recurring Basis Fair Value Measurements Using At March 31, 2023 (Level 1) (Level 2) (Level 3) Total Description Assets Marketable securities held in trust account $ 12,970,811 $ - $ - $ 12,970,811 Liabilities: Warrant liabilities - public warrants $ 754,400 $ - $ - $ 754,400 Warrant liabilities - private warrants $ - $ - $ 4,621 $ 4,621 Fair Value Measurements Using At December 31, 2022 (Level 1) (Level 2) (Level 3) Total Description Assets Marketable securities held in trust account $ 12,834,629 $ - $ - $ 12,834,629 Liabilities: Warrant liabilities - public warrants $ 368,000 $ - $ - $ 368,000 Warrant liabilities - private warrants $ - $ - $ 1,902 $ 1,902
Schedule of Fair Value Measurements	The following table provides quantitative information regarding Level 3 fair value measurements inputs as their measurement dates: Schedule of Fair Value Measurements At March 31, 2023 At December 31, 2022 Share price $ 10.71 $ 10.45 Exercise price $ 11.5 $ 11.5 Expected dividend yield 0 % 0 % Expected volatility 3.39 % 2.97 % Risk-free interest rate 4.95 % 4.85 % Expected life (in years) 0.42 0.67
Schedule of Fair Value Warrant Liabilities	The following table presents the changes in the fair value of derivative warrant liabilities: Schedule of Fair Value Warrant Liabilities Private Placement Warrants Public Warrants Total Warrant Liabilities Fair value as of January 1, 2023 $ 1,902 $ 368,000 $ 369,902 Change in valuation inputs or other assumptions 2,719 386,400 389,119 Fair value as of March 31, 2023 $ 4,621 $ 754,400 $ 759,021
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Schedule of Fair Value Warrant Liabilities	The following table provides a reconciliation of changes in fair value of the beginning and ending balances for the liabilities classified as Level 3: Schedule of Fair Value Warrant Liabilities Private Placement Warrants Public Warrants Warrant Liabilities Fair value of Level 3 warrants at January 1, 2023 $ 1,902 $ - $ 1,902 Change in valuation inputs or other assumptions 2,719 - 2,719 Fair value of Level 3 warrants at March 31, 2023 $ 4,621 $ - $ 4,621

Description of Organization a_2

Description of Organization and Business Operations (Details Narrative) - USD ($)					3 Months Ended
	Feb. 24, 2023	Nov. 09, 2022	Aug. 16, 2021	Apr. 12, 2021	Mar. 31, 2023	Dec. 31, 2022	Nov. 14, 2022
Share price					$ 11.07
Deferred underwritting commissions					$ 4,025,000	$ 4,025,000
Temporary Equity, Carrying Amount, Attributable to Parent					$ 12,970,811	$ 12,834,629
Business combination description					The Company must complete one or more initial Business Combinations having an aggregate fair market value of at least 80% of the net assets held in the Trust Account (as defined below) (excluding the amount of deferred underwriting commissions and taxes payable on the interest earned on the Trust Account) at the time of the signing of the agreement to enter into the initial Business Combination. However, the Company will only complete a Business Combination if the post-transaction company owns or acquires 50% or more of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment company under the Investment Company Act of 1940, as amended (the “Investment Company Act”).
Minimum net tangible asset upon consumation of business combination					$ 5,000,001
Interest on dissolution expenses					$ 100,000
Par value per share					$ 18
Cash					$ 66,000
Working capital deficit					249,000
Jet.AI Inc [Member]
Minimum net tangible asset upon consumation of business combination	$ 5,000,001
Aggregate consideration payable to the stockholders	$ 105,000,000
Price per share	$ 10
Acquisition expenses					251
Sponsor [Member]
Extension loan amount		$ 575,000
Sponsor [Member] | Promissory Note [Member]
Aggregate principal amount							$ 575,000
Common Class A [Member]
Number of shares exercised		10,313,048
Redemption price per share		$ 10.22
Redemption amount		$ 105,424,960
Temporary Equity, Carrying Amount, Attributable to Parent					$ 12,970,000
Temporary Equity, Shares Outstanding					1,186,952
Temporary Equity, Par or Stated Value Per Share					$ 10.92
Par value per share					0.0001	$ 0.0001
Private Placement Warrants [Member]
Sale of stock, number of shares issued in transaction			5,760,000
Sale of stock price per share			$ 1
Proceeds from issuance of private placement			$ 5,760,000	$ 5,760,000
Class of warrant or right, exercise price of warrants or rights			$ 11.50	$ 1
Common Stock [Member] | Jet.AI Inc [Member]
Number of shares payable to stockholders	4,500,000
Par value per share	$ 0.0001
Warrant [Member] | Jet.AI Inc [Member]
Class of warrant or right, exercise price of warrants or rights	$ 15
Number of warrants payable to stockholders	$ 60,000,000
IPO [Member]
Sale of stock, number of shares issued in transaction			10,000,000
Share price			$ 10		11.07
Proceeds from issuance of initial public offering			$ 100,000,000
Payments of stock issuance costs			6,624,000
Deferred underwritting commissions			$ 3,500,000
Over-Allotment Option [Member]
Share price			$ 10
Proceeds from issuance of initial public offering			$ 15,000,000
Payments of stock issuance costs			825,000
Deferred underwritting commissions			$ 525,000
Number of shares purchased			1,500,000
Trust Account [Member]
Share price					$ 10.15
Proceeds from issuance of initial public offering					$ 116,725,000

Schedule of Basic and Diluted N

Schedule of Basic and Diluted Net Loss Per Share (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Allocation of net (loss) earnings	$ (615,245)	$ 3,364,702
Basic and diluted weighted average shares outstanding	4,176,952	14,490,000
Basic and diluted net (loss) earnings	$ (0.15)	$ 0.23
Common Class A [Member]
Allocation of net (loss) earnings	$ (191,771)	$ 2,697,102
Basic and diluted weighted average shares outstanding	1,301,952	11,615,000
Basic and diluted net (loss) earnings	$ (0.15)	$ 0.23
Common Class B [Member]
Allocation of net (loss) earnings	$ (423,474)	$ 667,600
Basic and diluted weighted average shares outstanding	2,875,000	2,875,000
Basic and diluted net (loss) earnings	$ (0.15)	$ 0.23

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details Narrative) - USD ($)		3 Months Ended
	Aug. 16, 2021	Mar. 31, 2023	Dec. 31, 2022
Cash and cash equivalents, at carrying value		$ 66,000
Federal depository insurance coverage amount		$ 250,000
Common Class A [Member]
Common stock shares issued and outstanding		1,301,952
Common stock, shares redemption		1,186,952	1,186,952
Private Placement Warrants [Member]
Number of warrants issued	5,760,000	5,760,000
IPO [Member]
Number of warrants issued	17,260,000	17,260,000
Private Placement [Member]
Number of warrants issued	11,500,000

Initial Public Offering (Detail

Initial Public Offering (Details Narrative) - USD ($)	Aug. 16, 2021	Mar. 31, 2023	Dec. 31, 2022
Share price		$ 11.07
Deferred underwriting commissions		$ 4,025,000	$ 4,025,000
Common stock par value		$ 18
Public Warrant [Member]
Common stock par value		11.50
IPO [Member]
Sale of stock	10,000,000
Share price	$ 10	$ 11.07
Proceeds from issuance initial public offering	$ 100,000,000
Payments of stock issuance costs	6,624,000
Deferred underwriting commissions	$ 3,500,000
IPO [Member] | Maximum [Member]
Number of shares purchased	1,500,000
Over-Allotment Option [Member]
Share price	$ 10
Proceeds from issuance initial public offering	$ 15,000,000
Payments of stock issuance costs	825,000
Deferred underwriting commissions	$ 525,000
Number of shares purchased	1,500,000

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)					1 Months Ended		3 Months Ended
	Nov. 09, 2022	Aug. 16, 2021	Apr. 12, 2021	Apr. 12, 2021	Dec. 31, 2022	Nov. 30, 2022	Mar. 31, 2023	Nov. 14, 2022
Related Party Transaction [Line Items]
Common stock par value							$ 18
Payments to related party omitted fees					$ 20,000	$ 20,000
Working Capital Loans Warrant [Member]
Related Party Transaction [Line Items]
Loans convertible into warrants							$ 1,500,000
Price of warrants (in dollars per share)							$ 1
Private Placement Warrants [Member]
Related Party Transaction [Line Items]
Number of warrants issued			5,760,000	5,760,000
Exercise price of warrants		$ 11.50	$ 1	$ 1
Proceeds from private placement		$ 5,760,000		$ 5,760,000
Business Combination [Member]
Related Party Transaction [Line Items]
Business combination, reason for business combination							one year after the completion of the initial Business Combination or (ii) the date following the completion of the initial Business Combination on which the Company completes a liquidation, merger, share exchange or other similar transaction that results in all of the shareholders having the right to exchange their ordinary shares for cash, securities or other property. Notwithstanding the foregoing, if the closing price of the Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share sub-divisions, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 120 days after the initial Business Combination, the Founder Shares will be released from the lockup.
Common Class B [Member]
Related Party Transaction [Line Items]
Common stock par value					$ 0.0001		$ 0.0001
Common Class A [Member]
Related Party Transaction [Line Items]
Common stock par value					$ 0.0001		$ 0.0001
Number of shares exercised	10,313,048
Redemption price per share	$ 10.22
Redemption amount	$ 105,424,960
Sponsor [Member]
Related Party Transaction [Line Items]
Extension loan amount	$ 575,000
Sponsor [Member] | Promissory Note [Member]
Related Party Transaction [Line Items]
Aggregate principal amount								$ 575,000
Founder Shares [Member] | Sponsor [Member]
Related Party Transaction [Line Items]
Purchase price, per unit			0.009	$ 0.009
Founder Shares [Member] | Sponsor [Member] | Common Class B [Member]
Related Party Transaction [Line Items]
Number of shares issued				2,875,000
Common stock par value			$ 0.0001	$ 0.0001
Founder Shares [Member] | Sponsor [Member] | Related Party [Member]
Related Party Transaction [Line Items]
Payments from related party			$ 25,000	$ 25,000
Administrative Support Agreement [Member]
Related Party Transaction [Line Items]
Payments to related party			$ 10,000				$ 50,000

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) $ / shares shares
Number of purchase shares | shares	1,500,000
Underwriting cash discount per unit | $ / shares	$ 0.35
Aggregate payable	$ 3,500
Over-Allotment Option [Member]
Aggregate payable	$ 4,030
Closing of IPO [Member]
Underwriting cash discount per unit | $ / shares	$ 0.20
Aggregate payable	$ 2,000
Closing of IPO [Member] | Over-Allotment Option [Member]
Aggregate payable	$ 2,300

Derivative Warrant Liabilities

Derivative Warrant Liabilities (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
	Aug. 16, 2021	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Warrant description		The Public Warrants will become exercisable on the later of (a) 30 days after the consummation of a Business Combination or (b) 12 months from the closing of the IPO. The Public Warrants will expire five years from the consummation of a Business Combination or earlier upon redemption or liquidation.
Public warrant price per share		$ 0.01
Common stock par value		$ 18
Derivative liability description		The Private Placement Warrants are identical to the Public Warrants underlying the Units sold in the IPO, except that the Private Placement Warrants and the ordinary shares issuable upon exercise of the Private Placement Warrants, so long as they are held by the Initial Shareholders or their permitted transferees, (i) will not be redeemable by the Company, (ii) may not (including the Class A ordinary shares issuable upon exercise of these warrants), subject to certain limited exceptions, be transferred, assigned or sold by the holders until 30 days after the completion of the initial Business Combination, (iii) may be exercised by the holders on a cashless basis and (iv) will be entitled to registration rights. If the Private Placement Warrants are held by holders other than the Sponsor or its permitted transferees, the Private Placement Warrants will be redeemable by the Company and exercisable by the holders on the same basis as the Public Warrants.
Common Class A [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Common stock par value		$ 0.0001		$ 0.0001
Warrant agreement issuance		70%
IPO [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Sale of stock description		the Company issues additional shares of Class A ordinary shares or equity-linked securities for capital raising purposes in connection with the closing of its initial Business Combination at an issue price or effective issue price of less than $9.20 per Class A ordinary share (with such issue price or effective issue price to be determined in good faith by the Company’s 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 Company’s initial Business Combination on the date of the consummation of such initial Business Combination (net of redemptions), and (z) the volume weighted average trading price of the Company’s ordinary shares during the 20 trading day period starting on the trading day prior to the day on which the Company consummates its initial Business Combination (such price, the “Market Value”) is below $9.20 per share, the exercise price of the 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 above will be adjusted (to the nearest cent) to be equal to 180% of the greater of the Market Value and the Newly Issued Price.
Number of warrants issued	17,260,000	17,260,000
Public Warrant [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Warrants outstanding		11,500,000
Common stock par value		$ 11.50
Number of warrants issued		11,500,000
Private Placement Warrants [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Warrants outstanding		5,760,000
Number of warrants issued	5,760,000	5,760,000
Warrant [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Gain on warrant liability revaluation		$ 390	$ 3,400

Schedule of Fair Value Liabilit

Schedule of Fair Value Liabilities Measured on Recurring Basis (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities	$ 12,970,811	$ 12,834,629
Public Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities	12,970,811	12,834,629
Warrant liabilities - private warrants	754,400	368,000
Private Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities - private warrants	4,621	1,902
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Public Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities	12,970,811	12,834,629
Warrant liabilities - private warrants	754,400	368,000
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Private Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities - private warrants
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Public Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities
Warrant liabilities - private warrants
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Private Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities - private warrants
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Public Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities
Warrant liabilities - private warrants
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Private Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities - private warrants	$ 4,621	$ 1,902

Schedule of Fair Value Measurem

Schedule of Fair Value Measurements (Details)	Mar. 31, 2023 $ / shares	Dec. 31, 2022 $ / shares
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Share price	$ 11.07
Measurement Input, Share Price [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Share price	10.71	$ 10.45
Measurement Input, Exercise Price [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Exercise price	$ 11.5	$ 11.5
Measurement Input, Expected Dividend Rate [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Risk-free interest rate	0	0
Measurement Input, Price Volatility [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Risk-free interest rate	3.39	2.97
Measurement Input, Risk Free Interest Rate [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Risk-free interest rate	4.95	4.85
Measurement Input, Expected Term [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected life (in years)	5 months 1 day	8 months 1 day

Schedule of Fair Value Warrant

Schedule of Fair Value Warrant Liabilities (Details) - Fair Value, Recurring [Member]	3 Months Ended
	Mar. 31, 2023 USD ($)
Private Placement Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of warrants, beginning balance	$ 1,902
Change in valuation inputs or other assumptions	2,719
Fair value of warrants, Ending balance	4,621
Public Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of warrants, beginning balance	368,000
Change in valuation inputs or other assumptions	386,400
Fair value of warrants, Ending balance	754,400
Warrant [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of warrants, beginning balance	369,902
Change in valuation inputs or other assumptions	389,119
Fair value of warrants, Ending balance	759,021
Fair Value, Inputs, Level 3 [Member] | Private Placement Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of warrants, beginning balance	1,902
Change in valuation inputs or other assumptions	2,719
Fair value of warrants, Ending balance	4,621
Fair Value, Inputs, Level 3 [Member] | Public Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of warrants, beginning balance
Change in valuation inputs or other assumptions
Fair value of warrants, Ending balance
Fair Value, Inputs, Level 3 [Member] | Warrant [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of warrants, beginning balance	1,902
Change in valuation inputs or other assumptions	2,719
Fair value of warrants, Ending balance	$ 4,621

Shareholders_ Equity (Details N

Shareholders’ Equity (Details Narrative) - $ / shares	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Preferred stock authorized	4,000,000	4,000,000
Preferred stock par value	$ 0.0001	$ 0.0001
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock par value	$ 18
Common Class A [Member]
Class of Stock [Line Items]
Common stock authorized	400,000,000	400,000,000
Common stock par value	$ 0.0001	$ 0.0001
Common Stock, Other Shares, Outstanding	1,301,952
Temporary Equity, Shares Outstanding	1,186,952
Common stock outstanding	115,000	115,000
Common stock, shares, issued	115,000	115,000
Common Class B [Member]
Class of Stock [Line Items]
Common stock authorized	40,000,000	40,000,000
Common stock par value	$ 0.0001	$ 0.0001
Common stock outstanding	2,875,000	2,875,000
Common stock, shares, issued	2,875,000	2,875,000
Issued and outstanding shares of public offering percentage	20%