WinVest Acquisition (WINV) - 2022 Q2 - Quarterly Report

Financial Performance - As of June 30, 2022, the company had net losses of $362,352 for the six months, primarily due to administrative fees and legal expenses [101]. - The company incurred ongoing expenses related to being a public entity, including legal and financial reporting costs [100]. - The company has no long-term debt or significant liabilities as of June 30, 2022, apart from a monthly fee of $10,000 for administrative support [108]. Assets and Cash Position - The company held marketable securities in the Trust Account amounting to $116,321,157 as of June 30, 2022, intended for use in a business combination [104]. - The company had $214,155 in cash outside the Trust Account as of June 30, 2022, to be used for identifying and evaluating target businesses [105]. - The company generated non-operating income from interest on cash and cash equivalents held in the Trust Account after its IPO [100]. Business Operations and Strategy - The company has not commenced core operations and will not generate operating revenues until after completing a business combination [96]. - The company anticipates using substantially all funds in the Trust Account for the business combination, with provisions for tax payments and dissolution expenses [104]. - The company has until December 17, 2022, to complete its initial business combination, with the possibility of extending this period by up to six months [99]. Financial Arrangements - The company has no off-balance sheet arrangements or financial partnerships as of June 30, 2022 [112].