Registration of securities issued in business combination transactions

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.22.2.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2022
Dec. 31, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES    
Schedule Of Class A common stocks reflected in the condensed balance sheets are reconciled

At September 30, 2022 and December 31, 2021, the Class A common stock reflected in the condensed balance sheets are reconciled in the following table:

Gross proceeds

    

$

115,000,000

Less:

 

  

Proceeds allocated to Public Warrants

(5,290,000)

Class A common stock issuance at cost

(1,479,418)

Plus:

 

  

Accretion of carrying value to redemption value

7,919,418

Class A common stock subject to possible redemption, December 31, 2021

116,150,000

Plus:

Accretion of carrying value to redemption value

261,474

Class A common stock subject to possible redemption, September 30, 2022

$

116,411,474

At December 31, 2021, the Class A common stock reflected in the balance sheets is reconciled in the following table:

Gross proceeds

    

$

115,000,000

Less:

 

  

Proceeds allocated to Public Warrants

$

(5,290,000)

Class A common stock issuance at cost

$

(1,479,418)

Plus:

 

  

Accretion of carrying value to redemption value

$

7,919,418

Class A common stock subject to possible redemption

$

116,150,000

Schedule of net loss per common share

The following table reflects the calculation of basic and diluted net income (loss) per common share (in dollars, except per share amounts):

    

Three Months Ended

    

Three Months Ended

September 30, 2022

September 30, 2021

    

Class A

    

Class B

    

Class A

    

Class B

Basic and diluted net (loss) income per common stock

Numerator:

 

 

Allocation of net (loss) income, as adjusted

$

(232,395)

$

(58,099)

$

833,202

$

208,301

Denominator:

Basic and diluted weighted average shares outstanding

11,500,000

2,875,000

11,500,000

2,875,000

Basic and diluted net (loss) income per common shares

$

(0.02)

$

(0.02)

$

0.07

$

0.07

    

Nine Months Ended

    

Nine Months Ended

September 30, 2022

September 30, 2021

    

Class A

    

Class B

    

Class A

    

Class B

Basic and diluted net income per common stock

Numerator:

 

 

Allocation of net income, as adjusted

$

1,352,194

$

338,048

$

2,398,095

$

691,318

Denominator:

Basic and diluted weighted average shares outstanding

11,500,000

2,875,000

9,772,894

2,817,308

Basic and diluted net income per common shares

$

0.12

$

0.12

$

0.25

$

0.25

For the Period from August 5,

    

Year Ended

    

 2020 (Inception) Through

December 31, 

December 31, 

2021

2020

    

Class A

    

Class B

    

Class A

    

Class B

Basic net income (loss) per common share

Numerator:

 

 

Allocation of net income (loss), as adjusted

$

2,539,677

$

704,529

$

$

(5,476)

Denominator:

Basic weighted average shares outstanding

10,208,219

2,831,849

2,500,000

Basic net income (loss) per common share

$

0.25

$

0.25

$

$

(0.00)

For the Period from August 5, 

Year Ended 

2020 (Inception) Through 

December 31,

December 31,

2021

2020

    

Class A

    

Class B

    

Class A

    

Class B

Diluted net income per common share

 

  

 

  

 

  

 

  

Numerator:

 

  

 

  

 

  

 

  

Allocation of net income, as adjusted

$

2,531,301

$

712,905

$

$

Denominator:

 

  

 

  

 

  

 

  

Diluted weighted average shares outstanding

 

10,208,219

 

2,875,000

 

 

Diluted net income per common share

$

0.25

$

0.25

$

$