v3.23.2

Condensed Balance Sheets - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Current assets
Cash	$ 29,096	$ 355,251
Prepaid expenses	42,500	12,044
Total Current Assets	71,596	367,295
Marketable securities held in Trust Account	20,860,204	278,664,377
TOTAL ASSETS	20,931,800	279,031,672
Current liabilities
Accounts payable and accrued expenses	2,178,730	2,145,385
Income taxes payable	72,385	1,778
Redemption payable		258,248,749
Total Current Liabilities	2,251,115	260,395,912
Warrant liabilities	127,900	639,500
Deferred underwriting fee payable	9,660,000	9,660,000
TOTAL LIABILITIES	12,039,015	270,695,412
Commitments and Contingencies (Note 7)
Class A common stock subject to possible redemption 2,022,043 shares outstanding at redemption value of $10.20 and $10.07 as of June 30, 2023 and December 31, 2022, respectively	20,634,405	20,363,831
Stockholders’ Deficit
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; no shares issued and outstanding
Additional paid-in capital
Accumulated deficit	(11,742,310)	(12,028,261)
Total Stockholders’ Deficit	(11,741,620)	(12,027,571)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	20,931,800	279,031,672
Class A Common Stock
Stockholders’ Deficit
Common stock value	654	654
Class B Common Stock
Stockholders’ Deficit
Common stock value	$ 36	$ 36

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19,20)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Pivotal Investment Corp III 10-Q