Blue Safari Group Acquisition Corp

CIK:0001853084|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	10 Months Ended	12 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	Dec. 31, 2021	Dec. 31, 2022
Formation and operating costs	$ 1,241,824	$ 4,660,233
Loss from operations	(1,241,824)	(4,660,233)
Other income
Interest income earned on Trust	2,104	742,433
Total other income	2,104	742,433
Net loss	$ (1,239,720)	$ (3,917,800)
Class A ordinary shares subject to possible redemption
Other income
Basic weighted average shares outstanding	3,704,327	5,750,000
Diluted weighted average shares outstanding	3,704,327	5,750,000
Basic net loss per share	$ (0.23)	$ (0.52)
Diluted net loss per share	$ (0.23)	$ (0.52)
Class B ordinary shares and Class A ordinary shares not subject to possible redemptio
Other income
Basic weighted average shares outstanding	1,621,514	1,787,500
Diluted weighted average shares outstanding	1,621,514	1,787,500
Basic net loss per share	$ (0.23)	$ (0.52)
Diluted net loss per share	$ (0.23)	$ (0.52)

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	10 Months Ended	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Dec. 31, 2021	Dec. 31, 2022
Cash Flows from Operating Activities:
Net loss	$ (1,239,720)	$ (3,917,800)
Adjustments to reconcile net loss to net cash used in operating activities:
Formation costs paid by Sponsor	7,169
Interest earned on investment held in Trust Account	(2,104)	(742,433)
Changes in current assets and current liabilities:
Prepaid Expenses	(69,208)	(2,345)
Accrued offering costs and expenses	549,373	3,534,095
Due to related parties	355,863	64,327
Net cash used in operating activities	(398,627)	(1,064,156)
Cash flows from investing activities:
Principal deposited in Trust Account	(58,075,000)	(1,407,758)
Disposal of investment held in Trust Account		41,989,461
Net cash provided by (used in) investing activities	(58,075,000)	40,581,703
Cash flows from financing activities:
Proceeds from initial public offering	49,000,000
Proceeds from private placement	2,925,000
Proceeds from overallotment, net of underwriter discount	7,350,000
Proceeds from issuance of promissory note to Bitdeer		2,545,800
Redemption of Class A Ordinary Shares		(41,989,461)
Payment of deferred offering costs	(387,956)
Net cash (used in) provided by financing activities	58,887,044	(39,443,661)
Net Change in Cash	413,417	73,886
Cash, beginning of the period	0	413,417
Cash, end of the period	413,417	487,303
Supplemental Disclosure of Non-cash Activities:
Deferred offering costs paid by Sponsor in exchange for issuance of Class B ordinary shares	25,000
Remeasurement of carrying value of Class A ordinary shares subject to possible redemption to redemption value, including additional amounts deposited into trust	4,733,799	$ 2,152,295
Initial value of ordinary shares subject to possible redemption	57,500,000
Deferred underwriting commissions payable charged to additional paid in capital	$ 2,012,500

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents	$ 487,303	$ 413,417
Prepaid expenses	159,898	157,553
Total Current Assets	647,201	570,970
Investments held in Trust Account	18,237,834	58,077,104
Total Assets	18,885,035	58,648,074
Liabilities, Class A Ordinary Shares Subject to Possible Redemption and Shareholders' Deficit
Accrued offering costs and expenses	4,083,468	549,373
Due to related parties	420,190	355,863
Promissory note - related party	200,000	200,000
Promissory note - Bitdeer	2,545,800	0
Total Current Liabilities	7,249,458	1,105,236
Deferred underwriters discount	2,012,500	2,012,500
Total Liabilities	9,261,958	3,117,736
Commitments & Contingencies
Shareholders' Deficit:
Preferred shares, no par value; 1,000,000 shares authorized; no shares issued and outstanding
Accumulated deficit	(12,043,614)	(5,973,519)
Total Shareholders' Deficit	(8,614,757)	(2,544,662)
Total Liabilities, Class A Ordinary Shares Subject to Possible Redemption and Shareholders' Deficit	18,885,035	58,648,074
Class A ordinary shares subject to possible redemption
Liabilities, Class A Ordinary Shares Subject to Possible Redemption and Shareholders' Deficit
Class A ordinary shares subject to possible redemption, 1,718,388 and 5,750,000 shares at redemption value of $10.61 and $10.10 per share as of December 31, 2022 and 2021, respectively	18,237,834	58,075,000
Class A ordinary shares not subject to possible redemption
Shareholders' Deficit:
Ordinary shares value	3,403,857	3,403,857
Class B Ordinary Shares
Shareholders' Deficit:
Ordinary shares value	$ 25,000	$ 25,000