Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.23.1
Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash Flows from Operating Activities:    
Net (loss) income $ (1,448,735) $ 8,617,191
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Interest income earned on Trust 0 (7,600)
Unrealized gain on change in fair value of warrants (170,435) (9,537,808)
Changes in current assets and current liabilities:    
Prepaid expenses (53,316) 42,055
Due to related party, net 0 30,000
Deferred legal fee 905,322 510,020
Income taxes payable 0 0
Advances from Sponsor 66,400 350,000
Accounts payable and accrued expenses 472,271 (23,941)
Net cash used in operating activities (228,493) (20,083)
Cash Flows from Investing Activities:    
Cash withdrawn from Trust Account to pay franchise and income taxes 124,200 0
Net cash provided by investing activities 124,200 0
Cash Flows from Financing Activities:    
Proceeds from Promissory note – related party 135,000 0
Net cash provided by financing activities 135,000 0
Net Change in Cash 30,707 (20,083)
Cash-Beginning 760 43,054
Cash-Ending 31,467 22,971
Supplemental Disclosure of Non-cash Financing Activities:    
Waived Administrative Support Fee $ 242,089 $ 0