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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2023

Fair Value Measurements [Abstract]

Schedule of company’s liabilities that are measured at fair value

		March 31, 2023				Quoted Prices In Active Markets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Other Unobservable Inputs (Level 3)
Assets:
Cash and marketable securities held in trust		$	10,392,055			$	10,392,055				—				—
Liabilities:
Warrant liabilities – Public Warrants		$	759,000			$	759,000			$	—			$	—
Warrant liabilities – Private Placement Warrants			624,538				—				—				624,538
Warrant liabilities – Representative’s Warrants			48,386				—				—				48,386
Total		$	1,431,924			$	759,000			$	—			$	672,924

		December 31, 2022				Quoted Prices In Active Markets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Other Unobservable Inputs (Level 3)
Liabilities:
Warrant liabilities – Public Warrants		$	450,656			$	450,656			$	—			$	—
Warrant liabilities – Private Placement Warrants			377,857				—				—				377,857
Warrant liabilities – Representative’s Warrants			29,274				—				—				29,274
Total		$	857,787			$	450,656			$	—			$	407,131

Schedule of inputs into the monte carlo simulation

		March 31, 2023				December 31, 2022
Input
Risk-free interest rate			4.76	%			4.74	%
Expected term (years)			.80				.90
Expected volatility			8.4	%			7.7	%
Exercise price		$	11.50			$	11.50
Fair value of Common stock		$	10.34			$	10.13

Schedule of the changes in the fair value of financial instruments

		Private Placement Warrants				Public Warrants				Representative’s Warrants				Warrant Liability
Fair value at December 31, 2022		$	377,857			$	—			$	29,274			$	407,131
Change in fair value of warrant liabilities			246,681				—				19,112				265,793
Fair value at March 31, 2023		$	624,538			$	—			$	48,386			$	672,924

		Private Placement Warrants				Public Warrants				Representative’s Warrants				Warrant Liability
Fair value at December 31, 2021		$	3,086,701			$	3,890,177			$	239,144			$	7,216,022
Change in fair value of warrant liabilities			(1,660,759	)			(2,088,501	)			(128,669	)			(3,877,929	)
Transfer out of Level 3 to Level 1			—				(1,801,676	)			—				(1,801,676	)
Fair value at March 31, 2022		$	1,425,942			$	—			$	110,475			$	1,536,417

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- References

No definition available.

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- Definition

Tabular disclosure of all significant concentrations of risk, including credit risk and market risk, arising from all financial instruments (as defined), whether from an individual counterparty or groups of counterparties. The disclosure concerning concentrations of risk may consist of the following information: (1) for concentrations of credit risk disclosure may include: (a) information about the (shared) activity, region, or economic characteristic that identifies the concentration, (b) the maximum amount of loss due to credit risk that, based on the gross fair value of the financial instrument, the entity would incur if parties to the financial instruments that make up the concentration failed completely to perform according to the terms of the contracts and the collateral or other security, if any, for the amount due proved to be of no value to the entity, (c) the policy of requiring collateral or other security to support financial instruments subject to credit risk, information about the entity's access to that collateral or other security, and the nature and a brief description of the collateral or other security supporting those financial instruments, and (d) the policy of entering into master netting arrangements to mitigate the credit risk of financial instruments, information about the arrangements for which the entity is a party, and a brief description of the terms of those arrangements, including the extent to which they would reduce the entity's maximum amount of loss due to credit risk and (2) for disclosure of quantitative information about the market risks of financial instruments that is consistent with the way the company manages or adjusts those risks, disclosure may include: (a) more details about current positions and perhaps activity during the period, (b) the hypothetical effects on comprehensive income (or net assets), or annual income, of several possible changes in market prices, (c) a gap analysis of interest rate re-pricing or maturity dates, (d) the duration of the financial instruments, (e) the entity's value at risk from derivatives and from other positions at the end of the reporting period and the average value at risk during the year, or (f) other ways of reporting quantitative information as internally developed.

+ References

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-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

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-Name Accounting Standards Codification
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Tabular disclosure of the reconciliation of beginning and ending balances of the fair value of plan assets of pension plans and/or other employee benefit plans showing separately, if applicable, the effects during the period attributable to each of the following: actual return on plan assets, foreign currency exchange rate changes, contributions by the employer, contributions by plan participants, benefits paid, business combinations, divestitures, and settlements.

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