Annual report pursuant to Section 13 and 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.22.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
12 Months Ended
Dec. 31, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  
Reconciliation of common stock subject to possible redemption

Gross proceeds

    

$

115,000,000

Less:

  

Common stock issuance costs

 

(1,646,673)

Proceeds allocated to Public Warrants

(4,427,500)

Plus:

 

  

Remeasurement of carrying value to redemption value

 

7,799,173

Common stock subject to possible redemption

$

116,725,000

Schedule of calculation of basic and diluted net loss per common share

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

Year Ended

Year Ended

December 31, 2021

December 31, 2020

Redeemable

Non-redeemable

Redeemable

Non-redeemable

    

common stock

    

common stock

    

common stock

    

common stock

Basic and diluted net loss per common share

 

  

 

  

 

  

 

  

Numerator:

 

  

 

  

 

  

 

  

Allocation of net loss, as adjusted

$

(247,320)

$

(155,222)

$

$

(1,965)

Denominator:

 

  

 

  

 

  

 

  

Basic and diluted weighted average shares outstanding

 

4,505,479

 

2,827,725

 

 

2,875,000

Basic and diluted net loss per common share

$

(0.05)

$

(0.05)

$

$

(0.00)