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Restatement Of Previously Issued Financial Statements
 6 Months Ended
Jun. 30, 2023
Prior Period Adjustment [Abstract]  
Restatement Of Previously Issued Financial Statements
NOTE 2. RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS
In connection with the preparation of the financial statements of the Company as of and for the year ended December 31, 2023, the Company determined that there were errors related to the (i) the failure to properly reflect as an expense the deferred consulting payments due to our chief financial officer if we complete our initial business combination (see Note 6), and (ii) the failure to record the capital contributions and related costs associated with the
non-redemption
agreements (see Note 6) in the previously issued financial statements as of and for the three and six months ended June 30, 2023.
In accordance with SEC Staff Accounting Bulletin No. 99, “Materiality,” and SEC Staff Accounting Bulletin No. 108, “Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements,” the Company determined that the errors were material to its previously issued financial statements. Therefore, the Company concluded that
the
previously issued financial statements should be restated.
 
The following tables summarize the effect of the restatement on each financial statement line items as of the dates, and for the period, indicated:
 
Balance sheet as of June 30, 2023
 
 
  
As previously reported
 
  
Adjustments
 
  
As revised
 
Due to related party
     
$
 95,003     
$
 		 140,400     
$
 		 235,403  
Accrued tax payable - Income tax
      515,061        52,133        567,194  
Total current liabilities
      3,673,881        192,531        3,866,412  
Total liabilities
      12,663,881        192,531        12,856,412  
Class A common stock subject to redemption
      17,096,912        48,023        17,144,935  
Accumulated deficit
  
 
(11,765,087
) 
  
 
(240,554
)
  
 
(12,005,641
)
 
Total stockholders’ deficit
  
 
(11,764,512
) 
  
 
(240,554
)
  
 
(12,005,066
)
 
Income statement for the three months ended June 30, 2023
 
    
As previously reported
     
Adjustments
     
As revised
  
Non-redemption
agreement expense
      —      
$
 		 180,000     
$
 		 180,000  
Consulting Fees - CFO
      —         46,800        46,800  
Total expenses
     
$
 539,046        227,844        766,890  
Net income before income tax provision
  
 
1,729,139
 
  
 
(226,800
)
  
 
1,502,339
 
Income tax provision
  
 
(386,740
)
  
 
(48,614
)
  
 
(435,354
)
 
Net income
  
 
1,342,399
 
  
 
(275,414
)
  
 
1,066,985
 
Basic and diluted net income per share of Class A common stock
  
 
 0.10
 
  
 
 (0.02
)
  
 
 0.08
 
Basic and diluted net income per share of Class A common stock
  
 
 0.10
 
  
 
 (0.02
)
  
 
 0.08
 

Income statement for the six months ended June 30, 2023
 
 
  
As previously reported
 
  
Adjustments
 
  
As revised
 
Consulting fees - CFO
  
 
— 
 
  
$
 
140,400
 
  
$
 
140,400
 
Non-redemption
agreement expense
  
 
— 
 
  
 
180,000
 
  
 
180,000
 
Total expenses
  
 
$
1,031,735
 
  
 
321,463
 
  
 
1,353,198
 
Net income before income tax provision
  
 
4,130,060
 
  
 
(320,400
)
  
 
3,809,660
 
Income tax provision
  
 
(979,995
)
  
 
(52,133
)
  
 
(1,032,128
)
 
Net income
  
 
3,150,065
 
  
 
(372,533
)
  
 
2,777,532
 
Basic and diluted net income per share of Class A common
stock
  
 
 0.15
 
  
 
 (0.02
)
  
 
 0.13
 
Basic and diluted net income per share of Class A common
stock
  
 
 0.15
 
  
 
 (0.02
)
  
 
 0.13