INCOME TAX (Tables)

12 Months Ended

Dec. 31, 2021

INCOME TAX

Summary of significant components of the Company's deferred tax assets

The Company’s net deferred tax assets are as follows:

	December 31,
	2021		2020
Deferred tax asset
Net operating loss carryforward	$	25,360	$	—
Startup costs		364,454		—
Total deferred tax asset		389,814		—
Valuation allowance		(389,814)		—
Deferred tax asset, net of allowance	$	—	$	—

Income tax provision

The income tax provision consists of the following:

	December 31,
	2021		2020
Federal
Current	$	—	$	—
Deferred		(389,814)		—
State
Current	$	—	$	—
Deferred		—		—
Change in valuation allowance		389,814		—
Income tax provision	$	—	$	—

Schedule of reconciliation of the total income tax provision tax rate to the statutory federal income tax rate

A reconciliation of the federal income tax rate to the Company’s effective tax rate at December 31, 2021 and 2020 is as follows:

	December 31,
	2021		2020
Statutory federal income tax rate	21.0	%	21.0	%
Offering costs	1.7	%	0.0	%
Change in fair value of warrant liability	(27.4)	%	0.0	%
Valuation allowance	4.7	%	(21.0)	%
Income tax provision	0.0	%	0.0	%