Financial Performance - The company reported a net loss of $663,517 for the period from January 14, 2021, to December 31, 2021, primarily due to formation and operating costs of $759,636[318]. - The company has not yet engaged in any operations or generated any revenues to date[317]. IPO Details - The company completed its IPO on August 9, 2021, raising gross proceeds of $100,000,000 from the sale of 10,000,000 Units at $10.00 per Unit[320]. - Transaction costs related to the IPO and partial over-allotment exercise amounted to $6,265,859, including $3,672,368 in deferred underwriting commissions[321]. Financial Position - As of December 31, 2021, the company had $769,484 in cash and working capital of $931,264, which will be used for evaluating prospective Initial Business Combination candidates[322]. - As of December 31, 2021, there were 10,492,480 shares of Class A Common Stock subject to possible redemption, classified as temporary equity[329]. - The company has no long-term debt or off-balance sheet arrangements as of December 31, 2021[325]. Operational Costs - The company incurred a monthly fee of $10,000 to the Sponsor for general and administrative services starting August 4, 2021[326]. - The company generated non-operating income of $5,442 from interest earned on marketable securities held in the Trust Account[318]. Business Combination Timeline - The company has until November 9, 2022, to consummate an Initial Business Combination, with a potential extension to February 9, 2023[324].
Global Systems Dynamics(GSD) - 2021 Q4 - Annual Report