In accordance with SEC and its staff’s guidance on redeemable equity instruments, which has been codified in ASC 480-10-S99, redemption provisions not solely within the control of the Company require common stock subject to redemption to be classified outside of permanent equity. The Company had previously classified $115,000,000 of the cash deposited to the Trust Amount within temporary equity for redeemable equity instruments. However, the Company had not previously accounted for the additional redeemable amount that was initially deposited upon the consummation of the IPO of $1,725,000, nor the additional amount deposited on November 22, 2021 for the Extension Payment in the amount of $1,150,000. Our stockholders will have the opportunity to redeem all or a portion of their Public Shares upon the completion of our initial business combination at a per share price, payable in cash, equal to the aggregate amount then on deposit in the trust account as of two business days prior to the consummation of our initial business combination, including interest (which interest shall be net of taxes payable) divided by the number of then outstanding public shares. The Company revised its financial statements to include the additional $1,725,000 deposited upon consummation of the IPO as well as the $1,150,000 extension payment deposited on November 22, 2021 in redeemable common stock in temporary equity upon identifying the related accounting error in recording redeemable equity instruments.

The adjustment related to this accounting error resulted in non-cash financial statement corrections and had no impact on the Company’s current or previously reported cash position, the statements of operations, or total operating, investing, or financing cash flows. As such, Management has concluded that the error is immaterial to the previously issued financial statements.

The following tables summarize the effect of the error on each financial statement line item as of the dates, and for the periods, indicated.

	December 31, 2021
	As Previously Reported			Adjustments			As Revised
Balance Sheet (audited)
Common stock subject to redemption	$	115,000,000		$	2,875,000		$	117,875,000
Additional paid-in capital		475,848			(475,848	)		—
Accumulated deficit		(6,520,309	)		(2,399,152	)		(8,919,461	)
Total stockholders' deficit		(6,044,146	)		(2,875,000	)		(8,919,146	)

	September 30, 2021
	As Previously Reported			Adjustments			As Revised
Balance Sheet (unaudited)
Common stock subject to redemption	$	115,000,000		$	1,725,000		$	116,725,000
Accumulated deficit		(7,832,328	)		(1,725,000	)		(9,557,328	)
Total stockholders' deficit		(7,356,165	)		(1,725,000	)		(9,081,165	)

	June 30, 2021
	As Previously Reported in Amendment No. 1 of September 30, 2021 Form 10-Q			Adjustments			As Revised
Balance Sheet (unaudited)
Common stock subject to redemption	$	115,000,000		$	1,725,000		$	116,725,000
Accumulated deficit		(11,033,028	)		(1,725,000	)		(12,758,028	)
Total stockholders' deficit		(11,032,715	)		(1,725,000	)		(12,757,715	)

	March 31, 2021
	As Previously Reported in Amendment No. 1 of September 30, 2021 Form 10-Q			Adjustments			As Revised
Balance Sheet (unaudited)
Common stock subject to redemption	$	115,000,000		$	1,725,000		$	116,725,000
Accumulated deficit		(9,447,967	)		(1,725,000	)		(11,172,967	)
Total stockholders' deficit		(9,447,654	)		(1,725,000	)		(11,172,654	)

	December 31, 2020
	As Previously Reported			Adjustments			As Revised
Balance Sheet (audited)
Common stock subject to redemption	$	115,000,000		$	1,725,000		$	116,725,000
Accumulated deficit		(15,224,285	)		(1,725,000	)		(16,949,285	)
Total stockholders' deficit		(15,223,972	)		(1,725,000	)		(16,948,972	)

	December 31, 2021
	As Previously Reported		Adjustments		As Revised		Change
Statement of Cash Flows (audited)
Supplemental disclosure of non-cash financing activities:
Accretion of Common Stock to redemption value	$	—	$	(1,150,000)	$	(1,150,000)	100%

	December 31, 2020
	As Previously Reported		Adjustments		As Revised		Change
Statement of Cash Flows (audited)
Supplemental disclosure of non-cash financing activities:
Accretion of Common Stock to redemption value	$	(18,499,250)	$	(1,725,000)	$	(20,224,250)	9%