v3.23.1

Balance Sheets - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Current Assets
Cash	$ 483,937	$ 613,068
Prepaid expenses	214,912	372,059
Total current assets	698,849	985,127
Prepaid expenses – non-current portion		209,104
Cash and Investments held in trust account	35,902,882	234,646,626
Total Assets	36,601,731	235,840,857
Current Liabilities
Accounts payable and accrued expenses	545,691	550,862
Income taxes payable	500,645
Promissory note – related party	675,000	125,000
Total Current liabilities	1,721,336	675,862
Deferred underwriters’ discount	8,050,000	8,050,000
Total Liabilities	9,771,336	8,725,862
Commitments and Contingencies
Common stock subject to redemption, 3,466,135 and 23,000,000 shares at redemption value of $10.02 and $10.20 as of December 31, 2022 and 2021, respectively.	35,057,894	234,600,000
Stockholders’ Deficit
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding
Common stock, $0.0001 par value; 100,000,000 shares authorized; 5,750,000 shares issued and outstanding (excluding 3,466,135 and 23,000,000 shares subject to possible redemption)	575	575
Additional paid-in capital
Accumulated deficit	(8,228,074)	(7,485,580)
Total Stockholders’ Deficit	(8,227,499)	(7,485,005)
Total Liabilities and Stockholders’ Deficit	$ 36,601,731	$ 235,840,857

Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits.

Williams Rowland Acquisition Corp. 10-K