XML 18 R7.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash Flows from Operating Activities:    
Net loss $ (1,603,321) $ (1,052,192)
Adjustments to reconcile net loss to net cash used in operating activities:    
Interest earned on investments in trust (77,213) (207,405)
Non-cash interest expense 49,244
Change in fair value of warrants 909,903 330,873
Finance transaction cost 464,670
Changes in operating assets and liabilities:    
Prepaid assets 179
Accounts payable and accrued expenses 459,336 362,907
Income tax payable 9,563
Due to related party 30,000
Net cash used in operating activities (252,488) (70,968)
Cash Flows from Investing Activities:    
Extension Contributions to Trust Account (60,000) (375,000)
Cash withdrawn from Trust Account for taxes 128,497
Net cash provided by (used in) investing activities 68,497 (375,000)
Cash Flows from Financing Activities:    
Proceeds from issuance of promissory notes 100,000 301,500
Proceeds from issuance of promissory note to related party 125,000
Net cash provided by financing activities 100,000 426,500
Net Change in Cash (83,991) (19,468)
Cash – Beginning 101,174 35,806
Cash – Ending 17,183 16,338
Supplemental Disclosure of Non-cash Financing Activities:    
Debt discount recognized for the fair value of Class A common stock to be transferred under promissory note 5,850
Overdraw of trust assets payable to trust by Sponsor 90,822
Remeasurement of Class A common stock to redemption value $ 8,716 $ 532,405