Globalink Investment Inc.(GLLIU) - 2022 Q1 - Quarterly Report

Financial Performance - The Company reported a net loss of $202,261 for the three months ended March 31, 2022, primarily due to operating expenses[97]. - The Company reported a net loss per share, with basic and diluted loss per share being the same due to the absence of dilutive securities as of March 31, 2022[117]. Initial Public Offering (IPO) - 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[98]. - An additional 1,500,000 units were sold through the over-allotment option, generating gross proceeds of $15 million[99]. - The Company incurred offering costs of $6,887,896 related to the IPO, including $2,300,000 in underwriting fees[100]. Financial Position - As of March 31, 2022, the Company held $116,726,356 in the trust account, which is intended to be used for the initial business combination[103]. - The Company had $636,216 in cash held outside the trust account as of March 31, 2022, down from $812,232 at the end of 2021[105]. - The Company has no long-term debt or off-balance sheet arrangements as of March 31, 2022[110][111]. Future Financing - The Company intends to use substantially all funds in the trust account for the initial business combination and related operational financing[104]. - The Company may need additional financing to complete its business combination or to cover redemptions of public shares[109]. Accounting Policies and Risks - The Company has identified critical accounting policies that require management to make estimates and assumptions affecting reported amounts of assets and liabilities[116]. - Management does not believe that any recently issued accounting standards would materially affect the condensed financial statements as of March 31, 2022[119]. - As of March 31, 2022, the Company was not subject to any market or interest rate risk, with net proceeds held in U.S. government securities or money market funds[120]. - The Company determined that the Public Warrants and Private Placement Warrants qualify for equity accounting treatment after a review of the warrant agreement[118]. Tax and Interest Income - Interest income from the trust account may be used to pay taxes, with no withdrawals made for tax payments through March 31, 2022[103].