Financial Performance - For the three months ended June 30, 2024, the company reported a net income of 382,746,consistingof530,143 in interest income, offset by 147,397informationandoperatingcosts[85].−ForthesixmonthsendedJune30,2024,thecompanyhadanetincomeof731,987, with total interest income of 1,208,626andtotalcostsof384,323, including an unrealized loss of 92,316[85].AssetsandSecurities−AsofJune30,2024,thecompanyheldmarketablesecuritiesinthetrustaccountamountingto51,996,909, which includes 4,734,845ofinterestincome[90].−Followingthefullexerciseoftheover−allotmentoption,thetotalamountplacedinthetrustaccountreached70,380,000[88]. Working Capital and Cash Position - As of June 30, 2024, the company reported a working capital deficit of 874,140andcashof13,793[90]. Business Operations and Revenue - The company has not generated any operating revenues to date and does not expect to do so until after completing its initial business combination[84]. - The company has incurred significant costs related to its acquisition plans and anticipates increased expenses due to being a public company[83]. Going Concern - There is substantial doubt about the company's ability to continue as a going concern within one year after the issuance of the financial statements[93]. Financing Arrangements - The company has no off-balance sheet financing arrangements as of June 30, 2024[95]. Initial Public Offering - The company completed its Initial Public Offering on December 22, 2022, raising gross proceeds of 60,000,000fromthesaleof6,000,000Unitsat10.00 per Unit[86].
