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Consolidated Statements of Cash Flows - USD ($)
6 Months Ended 10 Months Ended 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Dec. 31, 2021
Dec. 31, 2022
Jul. 31, 2022
Jul. 31, 2021
Cash flows from operating activities:            
Net income (loss)     $ 5,906,214 $ 5,940,296    
Formation costs paid by related party     10,000    
Allocation of offering costs to warrant expense     741,209    
Interest income earned     (2,577) (1,515,362)    
Change in fair value of warrant liabilities     (7,205,376) (6,659,839)    
Changes in current assets and liabilities:            
Prepaid expenses     (603,711) 371,253    
Other current liability – Advance from target     449,167    
Due to sponsor     (10,000)    
Accrued offering costs and expenses     254,276 734,683    
Income taxes payable     253,660    
Net cash used in operating activities     (899,965) (436,142)    
Adjustments to reconcile net income to net cash used in operating activities:            
Proceeds from initial public offering, net of costs     124,096,500    
Proceeds from private placement warrants     6,027,500    
Proceeds from convertible promissory note – related party     253,378 500,000    
Proceeds from advance from target for extension notes       (166,675)    
Payment of promissory note to related party     (285,778) 1,265,000    
Redemption of common stock       (120,804,392)    
Payment of deferred offering costs     (529,380)    
Net cash provided by financing activities     129,562,220 (119,206,067)    
Cash flows from investing activities:            
Investment of cash in Trust Account     (128,397,500) (1,019,688)    
Cash withdrawn from Trust Account in connection with redemption     120,804,392    
Net cash used in investing activities     (128,397,500) 119,784,704    
Cash flows from financing activities:            
Net change in cash     264,755 142,495    
Cash, beginning of the period     264,755    
Cash, end of the period     264,755 407,250    
Supplemental disclosure of non-cash financing activities:            
Deferred offering costs paid by promissory note – related party     32,400    
Deferred offering costs paid by Sponsor in exchange for issuance of Class B common stock     25,000    
Deferred underwriting fee charged temporary equity     4,554,000    
Initial warrant liability     15,085,335    
Initial value of Class A common stock subject to possible redemption     $ 128,397,500    
DIGERATI TECHNOLOGIES, INC            
Cash flows from operating activities:            
Net income (loss) $ (5,249) $ (9,378)     $ (9,354) $ (17,015)
Depreciation and amortization expense 1,919 974     2,916 1,707
Stock compensation and warrant expense 46 47     98 624
Stock issued for services         126
Bad debt expense 69 15     78 17
Amortization of Right-of-Use Assets 546 92     626 328
Changes in current assets and liabilities:            
Amortization of debt discount 850 1,605     2,064 2,809
Accounts receivable (275) 110     484 (69)
Loss (gain) on derivative liabilities (773) (1,009)     (6,186) 9,935
Prepaid expenses and other current assets (57) (12)     (20) 46
Loss on extinguishment of debt 5,480     5,481 (560)
Inventory 18 27     (18) (27)
(Gain) on settlement of conversion premium on Notes (466)        
Other Assets (175)     (131)
Accrued interest added to principal 40     510
Right of use operating lease liability (446) (92)     (727) (328)
Debt extension fee charged to interest expense 418     225
Accounts payable 404 484     860 99
Gain on contingent earnout         (24)
Accrued expenses 550 631     566 1,083
Preferred stock C issued for settlement of AP from current year         333
Deferred income 279 (17)     911 (259)
Stock issued for debt extension         65 59
Net cash used in operating activities (2,002) (1,003)     (1,960) (708)
Common stock issued for debt extension charged to interest expense 340        
Adjustments to reconcile net income to net cash used in operating activities:            
Acquisitions of VoIP assets, net of cash received         (12,791) (10,390)
Proceeds from sale of stock and warrants         34
Principal payments on convertible notes, net         (425) (266)
Borrowings from convertible debt, net of original issuance cost and discounts 3,990 707     806 1,078
Borrowings from debt, net of original issuance cost and discounts 6,000     15,530 13,036
Proceeds from the exercise of warrants 22        
Borrowings from related party notes, net of original issuance cost and discounts 250        
Principal payments on debt, net (250)     (250) (1,338)
Principal payments on convertible debt, net (500)        
Principal payments on related party notes, net (499) (328)     (816) (169)
Principal payment on equipment financing (53) (18)     20 (63)
Net cash provided by financing activities 2,960 6,361     14,865 12,312
Cash flows from investing activities:            
Cash paid in acquisition of equipment (264) (65)     (272) (410)
Proceeds from Nexogy 162     178
Acquisition of VoIP assets, net of cash received (4,100)        
Net cash used in investing activities (264) (4,003)     (12,885) (10,800)
Cash flows from financing activities:            
INCREASE IN CASH AND CASH EQUIVALENTS 694 1,355        
Net change in cash         20 804
Cash, beginning of the period 1,509 1,489     1,489 685
Cash, end of the period 2,203 2,844     1,509 1,489
SUPPLEMENTAL DISCLOSURES:            
Cash paid for interest 1,945 861     2,508 1,111
Income tax paid        
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES            
Accrued interest rolled into principal 723 319     970
Beneficial conversion feature on convertible debt         282
Incentive earnout adjustment on Active PBX acquisition 121     120
Debt discount from common stock issued with debt 355 38     120 147
Debt discount from derivative liabilities 64 60     358
Debt discount from PRG warrant derivative         6,462
Promissory note reclassed to convertible debt         15
Capitalization of ROU assets and liabilities - operating         940 440
Preferred Stock Series B issued for debt conversion and settlement         18
Preferred Stock Series C issued for AP settlement         221
Common Stock issued for debt conversion         429
Common Stock issued for accounts payable         60
Dividend declared         19 20
Derivative liability resolved to APIC due to debt conversion         $ 588
Debt discount from warrant issuances 667        
Beneficial conversion feature on convertible note 1,275        
Common stock issued for debt conversion and settlement 75        
Common Stock issued for the conversion of Preferred Stock Series A 57        
Dividends accrued 8 10        
Day 1 (one) recognition of Right-of-use Assets $ 365