Results of operations and known trends or future events
We have not engaged in any activity or generated any income to date. Our only activities since the creation have been organizational activities, those necessary to prepare our IPO and identify a target company for our first business combination. We do not expect to generate any revenue until the completion of our initial business combination. We generate non-operating income in the form of interest income on cash and cash equivalents held in the trust account. We incur expenses as a result of our public company status (for legal, financial, accounting and auditing compliance), as well as expenses related to due diligence on potential applicants to a business combination.
For the period of
Liquidity and capital resources
available for working capital needs. Any remaining cash held in the trust account is generally not available for use by the Company, prior to an initial business combination, and is limited to use in a business combination or to buy back common shares. From
- 30 -
The Company expects the
The Company does not believe that it will need to raise additional funds to meet the expenses necessary to operate its business. However, if the Company’s estimates of the costs of an in-depth due diligence and negotiation of a business combination are lower than the actual amount necessary to do so, the Company may not have sufficient funds to operate its business. business before the business combination. In addition, the Company will have to raise additional capital through loans from its sponsor, officers, directors or third parties. None of the sponsors, officers or directors are obligated to advance funds to or invest in the Company. If the Company is unable to raise additional capital, it may need to take additional measures to conserve liquidity, which could include, but not necessarily be limited to, reducing operations, suspending pursuing its business plan and reducing overheads. The Company cannot guarantee that new financing will be available to it on commercially acceptable terms, if at all.
© Edgar online, source