Globalink Investment Inc.(GLLIU) - 2021 Q4 - Annual Report

Financial Performance - The company reported a net loss of $135,550 for the period from March 24, 2021, to December 31, 2021, primarily due to general and administrative expenses of $135,649, partially offset by interest income of $99[233]. - The company had no revenues generated to date and does not expect to generate operating revenues until after the completion of its initial business combination[232]. - Cash used in operating activities from inception through December 31, 2021, was $324,872[239]. IPO and Fundraising - The company completed its IPO on December 9, 2021, raising gross proceeds of $100 million from the sale of 10,000,000 units at $10.00 per unit[235]. - An additional 1,500,000 units were sold through the underwriters' over-allotment option, generating gross proceeds of $15 million[236]. - Offering costs for the IPO and the underwriters' over-allotment option amounted to $6,887,896, including $2,300,000 in underwriting fees[237]. Trust Account and Capital Utilization - As of December 31, 2021, the company had $116,725,099 held in a trust account, which will be used to complete its initial business combination[240]. - The company intends to utilize substantially all funds in the trust account for its initial business combination and any remaining proceeds for working capital[241]. - As of December 31, 2021, the company had $812,232 in cash held outside the trust account for operational expenses related to identifying and evaluating target businesses[242]. Debt and Accounting - The company has no long-term debt or off-balance sheet arrangements as of December 31, 2021[246]. - The Company accounts for public and private warrants as equity-classified instruments based on specific terms and applicable guidance, qualifying for equity accounting treatment[253]. - Management does not anticipate that recently issued accounting standards will materially affect financial statements[254]. Regulatory Status - The Company qualifies as an "emerging growth company" under the JOBS Act, allowing it to delay the adoption of new accounting standards[255]. - The Company is evaluating the benefits of reduced reporting requirements under the JOBS Act, which may exempt it from certain disclosures for five years post-IPO[256]. - As a smaller reporting company, the Company is not required to provide quantitative and qualitative disclosures about market risk[257].