10-Q: Q1 2024 Earnings Report
10-Q: Q1 2024 Earnings Report
10-Q：2024财年一季报
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Heramba Electric reported its financial results for Q1 2024 ended March 31, 2024. The company posted a net loss of $2.86 million, compared to a net income of $1.43 million in Q1 2023. Operating costs increased to $1.78 million from $604,781 in the prior year period.Interest and dividend income on investments held in the Trust Account was $1.51 million, down from $2.84 million last year. The company recognized an unrealized loss on fair value of warrant liabilities of $2.58 million, compared to $648,431 in Q1 2023. As of March 31, 2024, Heramba Electric had $9,319 in cash held outside the Trust Account and a working capital deficit of $6.59 million.The company is pursuing a business combination with Heramba GmbH, which was approved by shareholders on March 28, 2024. Heramba Electric expects the proposed transaction to close as soon as practicable, subject to customary closing conditions. The company has until August 2, 2024 to complete a business combination or face mandatory liquidation.
