Financial Performance - For the three months ended September 30, 2022, the company reported a net income of $39,412, primarily from interest earned of $392,826, offset by operating costs of $353,414[100]. - For the nine months ended September 30, 2022, the company experienced a net loss of $630,643, with operating costs totaling $1,073,750 and interest earned of $443,107[100]. Liquidity and Capital Structure - As of September 30, 2022, the company had $23,519 in cash and working capital of $239,551, indicating a decrease in liquidity[106]. - The company raised gross proceeds of $4,924,800 from the IPO and an additional $98,496 from the sale of Private Warrants[103]. - Transaction costs related to the IPO and over-allotment amounted to $6,265,859, including $3,672,368 in deferred underwriting commissions[104]. - The company has no long-term debt or off-balance sheet arrangements as of September 30, 2022[108]. Business Operations and Future Outlook - The company has until February 9, 2023, to complete an Initial Business Combination, with substantial doubt about its ability to continue as a going concern if unsuccessful[107]. - Monthly fees of $10,000 are payable to the New Sponsor for general and administrative services until the completion of the Initial Business Combination or liquidation[109]. - The company does not expect to generate operating revenues until after the completion of its Initial Business Combination[102]. - The adoption of ASU 2020-06 did not impact the company's unaudited condensed financial statements[111].
Global Systems Dynamics(GSD) - 2022 Q3 - Quarterly Report