Minority Equality Opportunities Acquisition Inc.

CIK:0001859310|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Formation and operating costs	$ 359,703	$ 358,240
Loss from operations	(359,703)	(358,240)
Other income:
Interest income earned on cash held in trust account	109,190	8,287
Change in fair value of warrant liabilities	278,719	4,326,744
Total other income	387,909	4,335,031
Income before provision for income taxes	28,206	3,976,791
Provision for income taxes	16,420
Net income	$ 11,786	$ 3,976,791
Class A Common Stock
Other income:
Basic and diluted weighted average shares outstanding (in Shares)	1,117,022	12,808,125
Basic and diluted net income per shares (in Dollars per share)	$ 0	$ 0.25
Class B Common Stock
Other income:
Basic and diluted weighted average shares outstanding (in Shares)	3,162,500	3,162,500
Basic and diluted net income per shares (in Dollars per share)	$ 0	$ 0.25

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities:
Net income	$ 11,786	$ 3,976,791
Adjustments to reconcile net income to net cash used in operating activities:
Interest income earned	(109,190)	(8,287)
Change in fair value of warrant liabilities	(278,719)	(4,326,744)
Changes in current assets and liabilities:
Prepaid expenses	88,660	55,103
Other current liability - Advance from target	250,000
Due to sponsor		(10,000)
Accrued offering costs and expenses	8,845	(85,314)
Income taxes payable	16,420
Net cash used in operating activities	(12,198)	(398,451)
Cash flows from investing activities:
Investment of cash in Trust Account	80,422
Net cash provided by investing activities	80,422
Cash flows from financing activities:
Proceeds from advance from target for extension notes	(250,000)
Proceeds from working capital loans - related party		337,000
Net cash (used in) provided by financing activities	(250,000)	337,000
Net change in cash	(181,776)	(61,451)
Cash – Beginning of the period	407,250	264,755
Cash – End of the period	225,474	203,304
Supplemental disclosure of non-cash financing activities:
Accretion of Class A common stock subject to possible redemption	$ (375,898)

Condensed Consolidated Balance Sheets - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Current Assets
Cash	$ 225,474	$ 407,250
Prepaid expenses	143,798	232,458
Total current assets	369,272	639,708
Cash held in Trust Account	10,576,179	10,297,411
Total Assets	10,945,451	10,937,119
Current Liabilities
Accrued offering costs and expenses	997,805	988,960
Working capital loans - related party	500,000	500,000
Convertible promissory note - related party	1,265,000	1,265,000
Other current liability - Advance from target	699,167	449,167
Income taxes payable	270,080	253,660
Total current liabilities	3,732,052	3,456,787
Warrant liabilities	941,401	1,220,120
Deferred underwriting fee	4,554,000	4,554,000
Total Liabilities	9,227,453	9,230,907
Commitments and Contingencies
Class A common stock subject to possible redemption, $0.0001 par value; 958,897 shares at redemption value, $10.82 and $10.43 per share as of March 31, 2023 and December 31, 2022, respectively.	10,373,845	9,997,947
Stockholders’ Deficit
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding
Class A common stock, $0.0001 par value; 100,000,000 shares authorized; 158,125 issued and outstanding as of March 31, 2023 and December 31, 2022 (excluding 958,897 shares subject to possible redemption)	16	16
Class B common stock, $0.0001 par value; 20,000,000 shares authorized; 3,162,500 shares issued and outstanding as of March 31, 2023 and December 31, 2022	316	316
Additional paid-in capital
Accumulated deficit	(8,656,179)	(8,292,067)
Total Stockholders’ Deficit	(8,655,847)	(8,291,735)
Total Liabilities, Redeemable Common Stock and Stockholders’ Deficit	$ 10,945,451	$ 10,937,119