v3.22.2.2
Balance Sheets - USD ($)
Jul. 31, 2022
Jul. 31, 2021
Assets    
Cash $ 193,546
Prepaid expenses 109,143 181,000
Deferred offering costs 247,920
Investments held in Trust Account 86,472,912
Total current assets 86,775,601 428,920
Total assets 86,775,601 428,920
Liabilities and shareholders’ equity (deficit)    
Accrued offering costs and expenses 824,410 3,640
Due to related parties 86,894
Promissory note - related party 800,000
Related party loans 396,157
Deferred underwriting commissions 3,018,750
Total current liabilities 4,730,054 399,797
Commitments and contingencies
Ordinary shares subject to possible redemption, 8,225,000 shares at redemption value of $10.03, and 400,000 shares at $8.27 carrying value 85,769,097
Shareholders’ equity (deficit)    
Ordinary shares, no par value; unlimited shares authorized; 2,448,500 (excluding 400,000 shares subject to redemption) and 2,156,250 shares issued and outstanding at July 31, 2022 and 2021, respectively [1],[2]
Additional paid-in capital 37,500
Accumulated deficit (3,723,550) (8,377)
Total shareholders’ equity (deficit) (3,723,550) 29,123
Total liabilities and shareholders’ equity (deficit) $ 86,775,601 $ 428,920
[1] As of July 31, 2021, this number includes an aggregate of up to 281,250 shares subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriters (see Note 5). As a result of the full exercise of the over-allotment option by the underwriters upon the consummation of the IPO, these shares are no longer subject to forfeiture (see Note 7).
[2] On October 25, 2021, the Company issued additional 718,750 ordinary shares which were purchased by the Sponsor, resulting in an aggregate of 2,156,250 ordinary shares outstanding. All shares and associated amounts have been retroactively restated to reflect the share capitalization (see Note 5).