XML 18 R6.htm IDEA: XBRL DOCUMENT v3.22.1
STATEMENT OF CASH FLOWS
11 Months Ended
Dec. 31, 2021
USD ($)
Cash flows from operating activities:  
Net loss $ (1,073,167)
Adjustments to reconcile net loss to net cash used in operating activities:  
Formation and operating costs paid by Promissory note – related party 5,728
Director compensation expense 705,630
Interest earned on cash held in Trust Account (7,730)
Changes in operating assets and liabilities:  
 Prepaid assets (575,099)
 Accrued offering costs and expenses 163,451
Net cash used in operating activities (781,187)
Cash flows from financing activities:  
Investment of cash in Trust Account (117,300,000)
Net cash used in investing activities (117,300,000)
Proceeds from issuance of shares to initial stockholders 113,850,000
Proceeds from sale of Founder Shares 25,982
Proceeds from sale of Private Placement units 5,500,000
Proceeds from issuance of promissory note to related party 100,000
Payment of promissory note to related party (227,689)
Payment of deferred offering costs (502,480)
Net cash provided by financing activities 118,745,813
Net change in cash 664,626
Cash, beginning of the period
Cash, end of the period 664,626
Supplemental disclosure of non-cash financing activities:  
Issuance of representative units 6
Deferred offering costs paid by Sponsor under the promissory note 122,836
Deferred offering costs included in accrued offering costs and expenses 111,396
Remeasurement adjustment charged to additional paid in capital $ 12,066,278