Patria Latin American Opportunity Acquisition (PLAO) - 2022 Q2 - Quarterly Report

Financial Performance - As of June 30, 2022, the company reported a net income of $5,519,563 for the six months ended, primarily due to a change in fair value of derivative warrant liabilities of $6,020,500[112]. - For the three months ended June 30, 2022, the company achieved a net income of $6,349,203, with general and administrative expenses totaling $384,531[113]. - The company has not generated any operating revenues to date and does not expect to do so until after completing a Business Combination[110]. Cash and Working Capital - The company had a working capital of $226,949,928 as of June 30, 2022, which includes cash placed in the Trust Account[115]. - Cash used in operating activities for the six months ended June 30, 2022, was $827,527, reflecting a net income offset by changes in operating assets and liabilities[116]. - The company held cash of $1,515,474 outside the Trust Account as of June 30, 2022, intended for identifying and evaluating target businesses[117]. - The company anticipates that cash held outside the Trust Account will not be sufficient to operate for at least the next 12 months if a Business Combination is not consummated[121]. Debt and Liabilities - The company has no long-term debt or capital lease obligations, with a deferred fee of $8,050,000 owed to underwriters contingent on completing a Business Combination[123]. - The company issued 13,000,000 public warrants and 14,500,000 private placement warrants, all recognized as derivative liabilities[129]. Business Risks - The company is subject to risks associated with being an emerging growth company, which may impact its financial condition and results of operations[109].