| Schedule of reconciliation of common stock subject to possible redemption reflected in the balance sheets |
|
|
|
|
Gross proceeds |
|
$ |
115,000,000 |
Less: |
|
|
|
Common stock issuance costs |
|
|
(1,625,220) |
Plus: |
|
|
|
Accretion of carrying value to redemption value |
|
|
3,350,220 |
Common stock subject to possible redemption, December 31, 2021 |
|
|
116,725,000 |
Plus: |
|
|
|
Accretion of carrying value to redemption value |
|
|
1,084,374 |
Common stock subject to possible redemption, December 31, 2022 |
|
|
117,809,374 |
Plus: |
|
|
|
Accretion of carrying value to redemption value |
|
|
874,573 |
Common stock subject to possible redemption, March 31, 2023 |
|
$ |
118,683,947 |
|
| Schedule of calculation of basic and diluted net income (loss) per common share |
The following tables reflect the calculation of basic and diluted net income (loss) per common share (in dollars, except per share amounts):
|
|
|
|
|
|
|
|
|
For the Three |
|
For the Three |
|
|
Months Ended |
|
Months Ended |
|
|
March 31, 2023 |
|
March 31, 2022 |
Net income (loss) |
|
$ |
708,556 |
|
$ |
(151,738) |
Accretion of redeemable common stock to redemption amount |
|
|
(874,573) |
|
|
— |
Net loss including accretion of temporary equity to redemption value |
|
$ |
(166,017) |
|
$ |
(151,738) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months Ended |
|
For the Three Months Ended |
|
|
March 31, |
|
March 31, |
|
|
2023 |
|
2022 |
|
|
Redeemable |
|
Non-redeemable |
|
Redeemable |
|
Non-redeemable |
|
|
Common stock |
|
Common stock |
|
Common stock |
|
Common stock |
Basic and diluted net income (loss) per common share |
|
|
|
|
|
|
|
|
|
|
|
|
Numerator: |
|
|
|
|
|
|
|
|
|
|
|
|
Allocation of net loss including accretion of temporary equity to redemption value |
|
$ |
(128,682) |
|
$ |
(37,335) |
|
$ |
(117,614) |
|
$ |
(34,124) |
Accretion of common stock to redemption value |
|
|
874,573 |
|
|
— |
|
|
— |
|
|
— |
Net income (loss) |
|
$ |
745,891 |
|
$ |
(37,335) |
|
$ |
(117,614) |
|
$ |
(34,124) |
Denominator: |
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted weighted average shares outstanding |
|
|
11,500,000 |
|
|
3,336,500 |
|
|
11,500,000 |
|
|
3,336,500 |
Basic and diluted net income (loss) per common share |
|
$ |
0.06 |
|
$ |
(0.01) |
|
$ |
(0.01) |
|
$ |
(0.01) |
|