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COMMON STOCK SUBJECT TO POSSIBLE REDEMPTION
3 Months Ended
Mar. 31, 2023
Common Stock Subject To Possible Redemption Abstract  
Common Stock Subject To Possible Redemption [Text Block]
NOTE 6 – COMMON STOCK SUBJECT TO POSSIBLE REDEMPTION
 
The Company’s common stock features certain redemption rights that are considered to be outside of the Company’s control and subject to occurrence of uncertain future events. Accordingly, common stock subject to possible redemption is presented at redemption value as temporary equity, outside of the stockholders’ deficit section of the Company’s condensed balance sheets.
 
The following is a reconciliation of the Company’s common stock subject to possible redemption as of March 31, 2023:
 
 
Common
Stock
Subject to
Possible
Redemption
 
 
 
 
 
Gross proceeds from Initial Public Offering
 
$
69,000,000
 
Less: Proceeds allocated to public warrants and rights
 
 
(1,236,527)
 
         Offering costs allocated to common stock subject to possible redemption
 
 
(4,791,126)
 
Plus: Accretion on common stock subject to possible redemption
 
 
7,439,560
 
Balance, March 31, 2023
 
$
70,411,907