Financial Performance - The company reported a net loss of $121 for the three months ended September 30, 2022, and a net loss of $7,291 for the nine months ended September 30, 2022, primarily due to formation and operating costs[95]. - As of September 30, 2022, the company had $15,975 in cash and a working capital deficit of $485,701[99]. - The company has not generated any operating revenues to date and does not expect to do so until after completing a business combination[94]. - Management has raised substantial doubt about the company's ability to continue as a going concern if a business combination is not completed within the specified period[100]. IPO and Fundraising - The company completed its IPO on October 6, 2022, raising gross proceeds of $50,000,000 from the sale of 5,000,000 units at $10.00 per unit[96]. - An additional 417,180 units were sold under the over-allotment option, generating total gross proceeds of $4,171,800[97]. Costs and Expenses - The company has incurred significant professional costs to remain publicly traded and expects to continue incurring transaction costs in pursuit of a business combination[100]. - The company has no long-term debt or off-balance sheet financing arrangements as of September 30, 2022[102]. - Upon closing a business combination, underwriters will be entitled to a deferred fee of $0.35 per public share, totaling $1,896,013[105]. Business Strategy - The company intends to focus on operating businesses in the new energy sector for its initial business combination[90].