Financial Performance - As of September 30, 2022, the company reported a net loss of $247,072 for the nine months ended, with operating costs amounting to $900,276 and investment income of $653,204[87]. - The company has no revenues generated to date and does not expect to generate operating revenues until after the completion of a business combination[86]. Cash and Working Capital - The company had $518 in cash in its operating bank account and a working capital of $113,299,597 as of September 30, 2022[89]. Initial Public Offering (IPO) - The Initial Public Offering (IPO) on January 3, 2022, generated gross proceeds of $115,000,000 from the sale of 11,500,000 units at $10.00 per unit, with offering costs totaling $6,762,886[90]. - A total of $116,725,000 from the IPO and private placement was deposited in a trust account, which is intended to be used for the initial business combination[90]. - The sponsor advanced the company $122,352 to cover IPO-related expenses, which was repaid shortly after the IPO[98]. Business Combination and Expenses - The company expects to incur approximately $930,000 for legal, accounting, due diligence, and other expenses related to structuring and negotiating business combinations prior to the initial business combination[92]. - The company has incurred significant costs in pursuit of its acquisition plans and cannot assure the success of completing a business combination[85]. - The company may need to seek additional financing to complete its initial business combination, especially if it targets larger businesses than the net proceeds from the IPO can cover[96]. - Initial stockholders agreed to waive redemption rights for founder and placement shares in connection with a Business Combination and related amendments[104]. Financial Obligations and Accounting - The company has a maximum estimated annual franchise tax obligation of $200,000, which may be paid from funds held outside the trust account or from interest earned on the trust account[91]. - No off-balance sheet financing arrangements were reported as of September 30, 2022[106]. - Management does not believe that recently issued accounting pronouncements will materially affect financial statements[108]. - As of September 30, 2022, there were no critical accounting policies identified[107]. - The company is classified as a smaller reporting company and is not required to provide extensive market risk disclosures[110].

Financial Performance - The company reported a net loss of $633,845 for the six months ended June 30, 2022, consisting of unrealized gains from marketable securities of $115,564 and operating costs of $749,409[83]. - As of June 30, 2022, the company had $55,510 in cash and a working capital of $97,260, indicating limited liquidity[85]. Initial Public Offering (IPO) - The company completed its Initial Public Offering (IPO) on January 3, 2022, raising gross proceeds of $115,000,000 from the sale of 11,500,000 units at $10.00 per unit[86]. - The company incurred offering costs of $6,762,886 during the IPO, including $4,025,000 for deferred underwriting commissions[86]. - A total of $116,725,000 from the IPO and private placement was deposited in a trust account for the benefit of public stockholders, invested in U.S. government treasury obligations[86]. - The sponsor advanced the company $122,352 to cover IPO-related expenses, which was repaid shortly after the IPO[94]. Future Financial Obligations - The company expects to incur approximately $230,000 for legal, accounting, and due diligence expenses prior to the initial business combination[88]. - The company may need to seek additional financing to complete its initial business combination, targeting larger businesses than could be acquired with current net proceeds[92]. - The company has a maximum estimated annual franchise tax obligation of $200,000, which may be paid from funds held outside the trust account[87]. - The company has agreed to pay its financial advisor $10,000 per month for general and administrative services until the completion of a business combination[96]. Accounting Policies and Disclosures - As of June 30, 2022, there were no off-balance sheet arrangements reported by the company[102]. - The company does not have any critical accounting policies that could materially affect financial statements as of June 30, 2022[103]. - Management believes that recently issued accounting pronouncements will not have a material effect on financial statements if adopted[104]. - The company is classified as a smaller reporting company and is not required to provide additional market risk disclosures[106].