Patria Latin American Opportunity Acquisition (PLAO) - 2022 Q3 - Quarterly Report

Financial Performance - As of September 30, 2022, the company reported a net income of $5,080,880, which includes a change in fair value of derivative warrant liabilities of $4,720,500 and a gain on investments held in the Trust Account of $1,403,465[115]. - The company had a net loss of $438,683 for the three months ended September 30, 2022, primarily due to general and administrative expenses[117]. Cash and Working Capital - The company had a working capital of $226,690,355, including cash placed in the Trust Account of $236,900,000, as of September 30, 2022[119]. - As of September 30, 2022, the company held cash of $806,558 outside the Trust Account, intended for identifying and evaluating target businesses[121]. - 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[125]. Operating Activities - For the nine months ended September 30, 2022, cash used in operating activities was $1,057,441, offset by various gains and changes in liabilities[120]. - The company has not generated any operating revenues to date and does not expect to do so until after completing a Business Combination[113]. Expenses and Liabilities - The company incurred general and administrative expenses of $728,577 for the nine months ended September 30, 2022[115]. - The company has no long-term debt or capital lease obligations as of the reporting date[127]. Warrants - The company issued 13,000,000 Public Warrants and 14,500,000 Private Placement Warrants, all recognized as derivative liabilities[130].