Annual report pursuant to Section 13 and 15(d)

BALANCE SHEETS

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BALANCE SHEETS - USD ($)
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash $ 364,721 $ 610,971
Prepaid expenses 94,299 345,166
Total current assets 459,020 956,137
Assets held in Trust Account 142,069,535 204,641,162
TOTAL ASSETS 142,528,555 205,597,299
Current liabilities:    
Accounts payable 82,084 81,076
Accrued expenses 292,380 181,633
Accrued contingent legal costs 6,449,593 2,066,035
Due to Sponsor 134,652 37,628
Promissory notes – related party 556,091
Derivative liability – promissory note – related party redemption feature 2,841
Convertible promissory notes – related party 55,500
Total current liabilities 7,573,141 2,366,372
Warrant liabilities 569,886 3,039,391
TOTAL LIABILITIES 8,143,027 5,405,763
Class A ordinary shares subject to possible redemption; 13,177,933 and 19,995,246 shares at redemption value of $10.77 per share and $10.23 per share at December 31, 2023 and 2022, respectively 141,969,535 204,541,163
Shareholders’ Deficit    
Preference shares, $0.0001 par value; 5,000,000 shares authorized; none issued and outstanding
Additional paid-in capital 4,843,201 2,634,528
Accumulated deficit (12,427,708) (6,984,655)
Total Shareholders’ Deficit (7,584,007) (4,349,627)
TOTAL LIABILITIES, CLASS A ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION, AND SHAREHOLDERS’ DEFICIT 142,528,555 205,597,299
Common Class A [Member]    
Shareholders’ Deficit    
Common Stock, Value, Issued
Common Class B [Member]    
Shareholders’ Deficit    
Common Stock, Value, Issued $ 500 $ 500