Israel Acquisitions p(ISRL) - 2023 Q3 - Quarterly Report

Financial Performance - As of September 30, 2023, the company reported a net income of $1,769,706 for the three months ended, compared to a net loss of $10,508 for the same period in 2022 [114]. - For the nine months ended September 30, 2023, the company had a net income of $4,349,477, up from a net loss of $46,755 for the same period in 2022 [115]. - The company incurred net cash used in operating activities of $665,095 for the nine months ended September 30, 2023 [119]. Initial Public Offering - The company completed its Initial Public Offering on January 18, 2023, raising gross proceeds of $143.75 million from the sale of 14,375,000 units at $10.00 per unit [106]. - The underwriters of the Initial Public Offering are entitled to a deferred discount of $5,406,250, payable only if a Business Combination is completed [126]. Cash and Securities - The company had $810,428 in cash and cash equivalents held outside of the Trust Account as of September 30, 2023 [116]. - Marketable securities held in the Trust Account amounted to $151,672,581 as of September 30, 2023, including approximately $4,989,434 in gains [121]. Business Development - A non-binding letter of intent was signed with Pomvom Ltd. on October 16, 2023, regarding a potential business combination [112]. - The company expects to incur significant costs related to identifying a target business and conducting due diligence prior to the initial business combination [123]. Debt Obligations - The company has no long-term debt or capital lease obligations as of September 30, 2023 [125].