Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.23.2
Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2023
Mar. 31, 2023
Jun. 30, 2022
Mar. 31, 2022
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
Cash Flows from Operating Activities:              
Net (loss) income $ (1,658,466) $ (1,448,735) $ (234,912) $ 8,617,191 $ (3,107,201) $ 8,382,279  
Adjustments to reconcile net (loss) income to net cash used in operating activities:              
Interest income earned on Trust (277,246)   (304,269)   (277,246) (311,869)  
Unrealized gain on change in fair value of warrants 98,324   (987,781)   (72,111) (10,525,589)  
Changes in current assets and current liabilities:              
Prepaid expenses         (34,185) 88,250  
Due to related party, net         0 60,000  
Deferred legal fee         2,405,300 1,401,360  
Income taxes payable         38,301 8,780  
Advances from Sponsor         101,400 788,423  
Accounts payable and accrued expenses         686,903 148,363  
Net cash (used in) provided by operating activities         (258,839) 39,997  
Cash Flows from Investing Activities:              
Reimbursement of franchise tax payment         204,200 0  
Cash withdrawn from Trust Account in connection with redemption         3,436,338 0  
Net cash provided by investing activities         3,640,538 0  
Cash Flows from Financing Activities:              
Proceeds from issuance of promissory note to related party         135,000 0  
Funds withdrawn from Trust Account         0 81,200  
Redemption of Class A common stock         (3,436,338) 0  
Net cash provided by financing activities         (3,301,338) 81,200  
Net Change in Cash         80,361 121,197  
Cash-Beginning   $ 760   $ 43,054 760 43,054 $ 43,054
Cash-Ending $ 81,121   $ 164,251   81,121 164,251 $ 760
Supplemental Disclosure of Non-cash Financing Activities:              
Waiver of amounts due to related party under the Administrative Support Agreement         242,089 0  
Payment from Trust Account in connection with redemption of shares         $ 0 $ 249,614,847