Financial Performance - For the three months ended March 31, 2023, the company reported a net loss of $339,791, primarily due to $1,333,155 in operating costs[118]. - Cash used in operating activities for the three months ended March 31, 2023, was $92,377, with a net loss of $339,791 offset by interest income from marketable securities[120]. - As of March 31, 2023, the company had marketable securities in its trust account totaling $118,498,801, which includes $2,348,801 of interest income[121]. Initial Public Offering - The company completed its Initial Public Offering on September 13, 2022, raising gross proceeds of $115 million from the sale of 11,500,000 units at $10.00 per unit[113]. - The company has incurred $4,950,750 in initial public offering related costs, including $4,025,000 in deferred underwriting fees[115]. Business Combination - The company entered into a Merger Agreement on March 3, 2023, with Humble Imports Inc., which will result in the company becoming a wholly-owned subsidiary of the parent[116]. - The company intends to use substantially all funds in the trust account to complete its business combination, with remaining proceeds for working capital[122]. - The company has until June 13, 2023, to complete a business combination, or until March 13, 2024, if the extension is utilized[126]. Financial Position - As of March 31, 2023, the company had cash held outside the trust account of $237,336, intended for evaluating target businesses and due diligence[123]. - The company has no long-term debt obligations or off-balance sheet financing arrangements as of March 31, 2023[127]. Accounting Standards - The company adopted ASU 2016-13 on January 1, 2023, which did not have a material impact on its financial statements[137]. - Management does not believe that any recently issued accounting standards will materially affect the unaudited condensed consolidated financial statements[138]. - The company has elected not to opt out of the extended transition period for new or revised financial accounting standards, aligning its adoption with private companies[142]. - The company is classified as a smaller reporting company and is not required to provide certain market risk disclosures[143]. Economic Impact - Inflation did not have a material impact on the company's business, revenues, or operating results during the reported period[140]. - The company qualifies as an "emerging growth company" under the JOBS Act, allowing it to take advantage of certain reporting exemptions[141].

Merger and Acquisition Strategy - The company entered into a Merger Agreement with Humble Imports Inc., which will result in the company becoming a wholly-owned subsidiary of EF Hutton Acquisition Corporation I[20]. - The company aims to identify and complete an initial business combination with a business that has an enterprise value between $400 million and $1 billion[35]. - The company intends to structure its initial business combination to acquire 100% of the equity interests or assets of the target business[53]. - The company aims to focus on businesses with enterprise values between $500 million and $1 billion, emphasizing strong and predictable cash flow generation[47]. - The company recognizes potential conflicts of interest among its officers and directors but believes these will not materially affect its ability to complete business combinations[60]. - The company has until 9 months from the IPO closing to complete its initial business combination, with the option to extend this period up to 18 months by depositing $575,000 for each one-month extension[79]. - The company anticipates redeeming 100% of its outstanding public shares if it fails to complete an initial business combination, with an estimated cost of approximately $15,000 for liquidation[85]. Financial Performance and Projections - The management team has raised approximately $13.4 billion across more than 224 transactions since the founding of EF Hutton in May 2020[27]. - The anticipated economic growth for the U.S. is projected at 2.3% in 2022 and 2.1% in 2023, with consumer spending expected to drive growth[49]. - The U.S. consumer and retail sales are projected to grow from $5.2 trillion in 2021 to $6.2 trillion by 2025, representing a CAGR of 4.5%[49]. - For the year ended December 31, 2022, the Company reported a net income of $577,440, primarily from interest earned on marketable securities[150]. - As of December 31, 2022, the Company held marketable securities in the trust account valued at $117,254,670, including $1,104,670 of interest income[155]. Management and Governance - The management team has extensive experience in the investment industry, including a track record of bringing public 53 SPACs totaling over $5.9 billion in gross proceeds[27]. - The company has a strong leadership team with extensive experience in investment banking and capital markets, including over $60 billion in aggregate transaction value completed by the Co-President[190]. - The board of directors consists of seven members, with a majority being independent directors, in compliance with Nasdaq corporate governance requirements[198]. - The audit committee is composed solely of independent directors, including Paul Hodge Jr., Anne Lee, and Thomas Wood, with Ms. Lee serving as chair[206]. - The compensation committee, also comprised of independent directors, is chaired by Ms. Lee and is responsible for reviewing and recommending compensation arrangements[210]. Operational Strategy - The company plans to focus on businesses with strong cash flow generation and a multi-year operating history of financial performance[35]. - The company intends to leverage its management team's industry expertise and relationships to identify high-quality merger targets[35]. - The company plans to leverage its management team's experience to add significant value to target businesses through operational strategies[45]. - The independent board of directors will play an active role in sourcing and conducting due diligence on potential targets[29]. - The company is focused on leveraging its leadership's extensive networks to identify high-quality merger targets[188]. Shareholder and Stockholder Information - Public stockholders can redeem shares for a pro rata portion of the trust account, initially set at $10.00 per share, plus any interest earned[69]. - A public stockholder is restricted from seeking conversion rights for 20% or more of the shares sold in the IPO, ensuring no large blocks of shares can be accumulated to block a business combination[70]. - The Company Lock-Up Agreement restricts stockholders from selling shares received in the Merger for six months after the Effective Time[115]. - Stockholders can recommend director candidates for nomination, following procedures set forth in the company's bylaws[216]. Legal and Compliance - The company is not currently a party to any material litigation or legal proceedings[126]. - The audit committee is required to review and approve all related party transactions prior to entering into such transactions[214]. - The company intends to form a corporate governance and nominating committee as required by law or Nasdaq rules, with independent directors participating in the nomination process[215]. IPO and Capital Structure - The Company completed its Initial Public Offering on September 13, 2022, selling 11,500,000 units at $10.00 per unit, generating gross proceeds of $115,000,000[145]. - Total funds placed in the trust account after the IPO and private placement amounted to $116,150,000, equating to $10.10 per Public Share[147]. - The Company incurred transaction costs of $4,950,750 related to the IPO, including $4,025,000 in deferred underwriting fees[147]. - The underwriters are entitled to deferred underwriting commissions of 3.5% of the gross proceeds from the IPO, amounting to $4,025,000, upon completion of a Business Combination[163].

Initial Public Offering - The company completed its Initial Public Offering on September 13, 2022, raising gross proceeds of $115 million from the sale of 11,500,000 units at $10.00 per unit[126]. - A total of $116,150,000 was placed in the trust account, with $4,950,750 incurred in initial public offering related costs[128]. - The underwriters are entitled to deferred underwriting commissions of 3.5% of the gross proceeds of the Initial Public Offering, amounting to $4,025,000, upon completion of the initial business combination[143]. Financial Performance - For the three months ended September 30, 2022, the company reported a net income of $72,860, primarily from interest income on marketable securities[130]. - Cash used in operating activities for the nine months ended September 30, 2022, was $240,425, with a net income of $8,513 affected by interest income and stock-based compensation[133]. - As of September 30, 2022, the company held marketable securities in the trust account valued at $116,276,881, including approximately $126,881 of interest income[135]. Business Combination and Financing - The company has until June 13, 2023, to complete a business combination, with a potential extension to March 13, 2024[141]. - The company intends to use substantially all funds in the trust account to complete its business combination and for working capital for the target business[136]. - The company may need to raise additional capital through loans or investments from sponsors or third parties to finance transaction costs[140]. Regulatory and Reporting Considerations - The company has elected not to opt out of the extended transition period under the JOBS Act, allowing it to adopt new or revised financial accounting standards at the same time as private companies[155]. - As an emerging growth company, the company may face challenges in comparing its financial statements with those of other public companies due to potential differences in accounting standards[155]. - The company is classified as a smaller reporting company and is not required to provide certain market risk disclosures[156]. Debt and Obligations - The company has no long-term debt obligations or off-balance sheet financing arrangements as of September 30, 2022[142].