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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash Flows from Operating Activities:    
Net (loss) income $ (2,422,087) $ 512,010
Adjustments to reconcile net (loss) income to net cash provided by used in operating activities:    
Change in value of derivative liabilities 184,210 596,160
Interest expense - debt discount 456,449
Interest earned on investments held in Trust Account (280,590) (2,514,748)
Gain on forgiveness of deferred underwriting fee payable (273,110)
Change in fair value of forward purchase agreement (78,334)
Stock compensation expense 1,109,250
Deferred tax benefit (2,346) (156,593)
Changes in operating assets and liabilities:    
Prepaid expenses (37,928) 282,218
Accounts payable 323,644 (37,780)
Accrued expenses – related party 96,256 481,053
Due to related party (5,500) 150,000
Due from related party 26,822
Due from sponsor (225,000)
Due to investors 25,000
Income tax payable (22,304) 152,043
Franchise tax payable (49,041)
Net cash used in operating activities (774,124) (936,122)
Cash Flows from Investing Activities:    
Cash withdrawn from Trust Account to pay franchise and income taxes 193,228 1,446,650
Cash withdrawn from Trust Account in connection with redemption 6,071,725 215,621,388
Cash deposited in Trust Account (1,196,026) (80,000)
Net cash provided by investing activities 5,068,927 216,988,038
Cash Flows from Financing Activities:    
Contributions from Sponsor 100,000
Proceeds from related party 65,000
Proceeds pursuant to subscription agreement 350,000
Capital contribution from Sponsor 1,090,000
Proceeds from loan payable 40,000
Due to shareholders (650,402)
Redemption of common stock (5,421,323) (215,621,388)
Net cash used in financing activities (4,526,725) (215,521,388)
Net change in cash and restricted cash (231,922) 530,528
Cash and restricted cash – beginning of the period 314,482 171,583
Total cash and restricted cash– end of the period 82,560 702,111
Cash 82,560 144,592
Restricted Cash 557,519
Supplemental cash flow information:    
Income taxes 71,772 590,000
Franchise taxes 121,456 150,089
Supplemental disclosure of noncash activities:    
Forgiveness of deferred underwriting fee payable 5,126,890
Class B common converted to Class A common on a one for one basis 510
Value of excise tax liability 54,214 2,156,214
Initial value of forward purchase agreement liability $ 83,369