Clover Leaf Capital Corp.

CIK:0001849058|SEC Filings

Unaudited Condensed Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
Unaudited Condensed Statements of Operations - USD ($)	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Formation and operating costs	$ 446,437	$ 709,836	$ 897,030	$ 900,007
Loss from operations	(446,437)	(709,836)	(897,030)	(900,007)
Other income:
Interest and penalties	(8,814)		(8,814)
Interest and dividends earned on investments and cash held in Trust Account	131,730	222,121	266,128	421,354
Interest earned on cash held in bank	1	21	3	74
Total other income, net	122,917	222,142	257,317	421,428
Loss before provision for income taxes	(323,520)	(487,694)	(639,713)	(478,579)
Provision for income taxes	(26,710)	(47,220)	(53,652)	(88,799)
Net loss	$ (350,230)	$ (534,914)	$ (693,365)	$ (567,378)
Class A Common Stock
Other income:
Basic weighted average of outstanding shares (in Shares)	1,048,796	2,441,063	1,073,257	2,441,063
Basic net loss per share (in Dollars per share)	$ (0.07)	$ (0.08)	$ (0.13)	$ (0.1)
Class B Common Stock
Other income:
Basic weighted average of outstanding shares (in Shares)	4,271,712	3,457,807	4,271,712	3,457,807
Basic net loss per share (in Dollars per share)	$ (0.07)	$ (0.08)	$ (0.13)	$ (0.1)

Unaudited Condensed Statements of Cash Flows - USD ($)	6 Months Ended
Unaudited Condensed Statements of Cash Flows - USD ($)	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net loss	$ (693,365)	$ (567,378)
Adjustments to reconcile net loss to net cash used in operating activities:
Interest and dividends earned on investments and cash held in Trust Account	(266,131)	(421,354)
Amortization of prepaid expenses		55,162
Changes in operating assets and liabilities:
Accrued costs and expenses	264,091	324,549
Prepaid expenses	54,187
Due to related party	20,000
Income taxes payable	53,652	88,799
Net cash used in operating activities	(567,566)	(520,222)
Cash Flows from Investing Activities:
Investment of cash in Trust Account	(360,000)
Trust Account withdrawal for redeeming shareholder payments	2,374,149
Net cash provided by Investing Activities	2,014,149
Cash Flows from Financing Activities:
Payments to redeeming shareholders	(2,374,149)
Proceeds from issuance of promissory note to related party	815,750	300,000
Net cash (used in) provided by financing activities	(1,558,399)	300,000
Net change in cash	(111,816)	(220,222)
Cash, beginning of the period	162,933	303,449
Cash, end of the period	51,117	83,227
Supplemental disclosure of cash flow information:
Recognition of liability for excise tax on redemptions	23,741
Accretion of Class A redeemable shares to possible redemption value	$ 520,242	$ 299,040

Condensed Balance Sheets - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash	$ 51,117	$ 162,933
Prepaid expenses	68,178	122,364
Total current assets	119,295	285,297
Investments and cash held in Trust Account	12,900,905	14,648,926
Total Assets	13,020,200	14,934,223
Liabilities, Redeemable Common Stock and Stockholders’ Deficit
Accrued costs and expenses	1,073,630	809,542
Income taxes payable	188,080	134,428
Excise Tax Payable	65,841	42,099
Promissory note to Related Party	4,657,765	3,842,015
Due to related party	30,000	10,000
Total current liabilities	6,015,316	4,838,084
Deferred underwriting commissions	4,840,931	4,840,931
Total Liabilities	10,856,247	9,679,015
Commitments and Contingencies (see Note 6)
Redeemable Common Stock:
Class A common stock subject to possible redemption, 1,048,796 and 1,251,156 Class A common stock shares at redemption value of $12.37 and $11.85 per share at June 30, 2024 and December 31, 2023, respectively	12,976,334	14,830,241
Stockholders’ Deficit:
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding
Accumulated deficit	(10,812,808)	(9,575,460)
Total Stockholders’ Deficit	(10,812,381)	(9,575,033)
Total Liabilities, Redeemable Common Stock and Stockholders’ Deficit	13,020,200	14,934,223
Class A Common Stock
Stockholders’ Deficit:
Common stock value	427	427
Class B Common Stock
Stockholders’ Deficit:
Common stock value