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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
6 Months Ended
Jun. 30, 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  
Schedule of Class A Common Stock reflected on the balance sheet are reconciled

For the Six

Months Ended

June 30, 

2023

2022

Contingently redeemable Class A Common Stock – Opening Balance

$

28,750,110

$

117,300,000

Plus:

 

Re-measurement of carrying value to redemption value

 

1,188,226

1,150,000

Contingently redeemable Class A Common Stock - Ending Balance

 

29,938,336

118,450,000

Schedule of basic and diluted net income (loss) per common share

For the Three Months Ended

For the Six Months Ended

June 30, 

June 30, 

     

2023

2022

2023

     

2022

Redeemable Class A common shares

    

  

Numerator:

 

Net income (loss) allocable to common stock subject to possible redemption

$

(1,861)

$

730,219

$

(32,885)

$

2,417,911

Denominator: weighted average number of redeemable common share

 

2,731,544

11,500,000

2,731,544

11,500,000

Basic and diluted net income (loss) per redeemable common share

$

(0.00)

$

0.06

$

(0.01)

$

0.21

Non-redeemable Class A and Class B common shares

 

 

Numerator:

Net income (loss) allocable to common stock not subject to redemption

$

(3,297)

$

219,718

$

(58,255)

$

727,534

Denominator: weighted average number of non-redeemable common shares

4,838,792

3,460,275

4,838,792

3,460,275

Basic and diluted net income (loss) per non-redeemable common share

$

(0.00)

$

0.06

$

(0.01)

$

0.21