v3.23.1

Condensed Balance Sheets - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash	$ 285,384	$ 27,316
Prepaid expenses	207,291	265,315
Total current assets	492,675	292,631
Investments held in Trust	173,261,960	171,442,865
Total Assets	173,754,635	171,735,496
Current Liabilities:
Accounts payable and accrued expenses	2,736,979	2,604,593
Note payable - sponsor	130,120	35,152
Due to related party	16,643	446
Total current liabilities	2,883,742	2,640,191
Derivative warrant liabilities	1,483,000	741,500
Deferred underwriting compensation	5,915,000	5,915,000
Total Liabilities	10,281,742	9,296,691
COMMITMENTS AND CONTINGENCIES
Class A ordinary shares subject to possible redemption; 16,900,000 shares (at redemption value)	173,261,960	171,442,865
Shareholders' equity:
Preferred stock, $0.0001 par value; 2,000,000 shares authorized; none issued and outstanding	0
Additional paid-in capital		0
Accumulated deficit	(9,789,489)	(9,004,482)
Total Shareholders' deficit	(9,789,067)	(9,004,060)
Total Liabilities, Ordinary Shares Subject to Possible Redemption and Shareholders' Deficit	173,754,635	171,735,496
Common Class A [Member]
Current Liabilities:
Class A ordinary shares subject to possible redemption; 16,900,000 shares (at redemption value)	173,261,960	171,442,865
Shareholders' equity:
Common Stock	0	0
Common Class B [Member]
Shareholders' equity:
Common Stock	$ 422	$ 422

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.

Black Spade Acquisition Co 10-Q