$DMYY
DMY Squared Technology Group Inc Stock $dmyy

$dmyy Overview Financials Valuation SEC Filings Company Website

2024 Q1 Form 10-Q Financial Statement

#000119312524139408 Filed on May 15, 2024

Income Statement

Concept	2024 Q1	2023 Q1
Revenue	$346.2K	$684.2K
YoY Change	-49.4%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin	$461.9K	$610.0K
YoY Change	-24.28%	1425.0%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses	$461.9K	$610.0K
YoY Change	-24.28%	1425.0%
Operating Profit	-$461.9K	-$609.9K
YoY Change	-24.27%	1387.6%
Interest Expense	$346.3K	$680.0K
YoY Change	-49.07%
% of Operating Profit
Other Income/Expense, Net	$346.3K	$1.289M
YoY Change	-73.13%
Pretax Income	-$115.6K	$678.7K
YoY Change	-117.03%	-1755.48%
Income Tax	$52.87K	$151.8K
% Of Pretax Income		22.36%
Net Earnings	-$168.5K	$527.0K
YoY Change	-131.97%	-1385.35%
Net Earnings / Revenue	-48.66%	77.02%
Basic Earnings Per Share
Diluted Earnings Per Share	-$0.04	$0.07
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept	2024 Q1	2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$626.1K	$0.00
YoY Change
Cash & Equivalents	$626.1K	$1.216K
Short-Term Investments
Other Short-Term Assets	$103.8K	$370.0K
YoY Change	-71.96%
Inventory
Prepaid Expenses	$103.8K	$373.9K
Receivables
Other Receivables
Total Short-Term Assets	$729.9K	$375.2K
YoY Change	94.55%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$25.21M	$65.39M
YoY Change	-61.45%
Other Assets
YoY Change
Total Long-Term Assets	$25.21M	$65.39M
YoY Change	-61.45%
TOTAL ASSETS
Total Short-Term Assets	$729.9K	$375.2K
Total Long-Term Assets	$25.21M	$65.39M
Total Assets	$25.94M	$65.76M
YoY Change	-60.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$525.0K	$273.4K
YoY Change	92.01%
Accrued Expenses	$668.6K	$272.4K
YoY Change	145.45%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due	$191.7K
YoY Change
Total Short-Term Liabilities	$2.581M	$1.019M
YoY Change	153.25%
LONG-TERM LIABILITIES
Long-Term Debt	$947.9K	$950.0K
YoY Change	-0.23%
Other Long-Term Liabilities	$3.118M	$4.090M
YoY Change	-23.76%
Total Long-Term Liabilities	$4.066M	$5.040M
YoY Change	-19.32%
TOTAL LIABILITIES
Total Short-Term Liabilities	$2.581M	$1.019M
Total Long-Term Liabilities	$4.066M	$5.040M
Total Liabilities	$6.647M	$6.052M
YoY Change	9.83%
SHAREHOLDERS EQUITY
Retained Earnings	-$4.795M	-$5.104M
YoY Change	-6.06%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	-$4.795M	-$5.104M
YoY Change
Total Liabilities & Shareholders Equity	$25.94M	$65.76M
YoY Change	-60.56%

Cashflow Statement

Concept	2024 Q1	2023 Q1
OPERATING ACTIVITIES
Net Income	-$168.5K	$527.0K
YoY Change	-131.97%	-1385.35%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities	-$59.97K	-$237.3K
YoY Change	-74.73%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities	$42.68M
YoY Change
Cash From Investing Activities	$42.68M	$0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net	$40.40M	$0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-42.00M	0.000
YoY Change		-100.0%
NET CHANGE
Cash From Operating Activities	-59.97K	-237.3K
Cash From Investing Activities	42.68M	0.000
Cash From Financing Activities	-42.00M	0.000
Net Change In Cash	626.1K	-237.3K
YoY Change	-363.83%	-1049.29%
FREE CASH FLOW
Cash From Operating Activities	-$59.97K	-$237.3K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value
CY2024Q1	dei	Amendment Flag AmendmentFlag	false
CY2024Q1	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q1
CY2024Q1	dei	Entity Central Index Key EntityCentralIndexKey	0001915380
CY2024Q1	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2024Q1	dei	Document Type DocumentType	10-Q
CY2024Q1	dei	Document Quarterly Report DocumentQuarterlyReport	true
CY2024Q1	dei	Document Period End Date DocumentPeriodEndDate	2024-03-31
CY2024Q1	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2024
CY2024Q1	dei	Document Transition Report DocumentTransitionReport	false
CY2024Q1	dei	Entity Registrant Name EntityRegistrantName	DMY SQUARED TECHNOLOGY GROUP, INC.
CY2024Q1	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	MA
CY2024Q1	dei	Entity File Number EntityFileNumber	001-41519
CY2024Q1	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	88-0748933
CY2024Q1	dei	Entity Address Address Line1 EntityAddressAddressLine1	1180 North Town Center Drive
CY2024Q1	dei	Entity Address Address Line2 EntityAddressAddressLine2	Suite 100
CY2024Q1	dei	Entity Address City Or Town EntityAddressCityOrTown	Las Vegas
CY2024Q1	dei	Entity Address State Or Province EntityAddressStateOrProvince	NV
CY2024Q1	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	89144
CY2024Q1	dei	City Area Code CityAreaCode	702
CY2024Q1	dei	Local Phone Number LocalPhoneNumber	781-4313
CY2024Q1	dei	Security12b Title Security12bTitle	Class A common stock, par value $0.0001 per share
CY2024Q1	dei	Trading Symbol TradingSymbol	DMYY
CY2024Q1	dei	Security Exchange Name SecurityExchangeName	NYSEAMER
CY2024Q1	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2024Q1	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
CY2024Q1	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
CY2024Q1	dei	Entity Small Business EntitySmallBusiness	true
CY2024Q1	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	true
CY2024Q1	dei	Entity Ex Transition Period EntityExTransitionPeriod	false
CY2024Q1	dei	Entity Shell Company EntityShellCompany	true
CY2024Q1	dmyy	Threshold Number Of Business Days For Redemption ThresholdNumberOfBusinessDaysForRedemption	P10D
CY2023Q1	us-gaap	Fair Value Recurring Basis Unobservable Input Reconciliation Net Derivative Asset Liability Gain Loss Statement Of Income Extensible List FairValueRecurringBasisUnobservableInputReconciliationNetDerivativeAssetLiabilityGainLossStatementOfIncomeExtensibleList	http://fasb.org/us-gaap/2023#FairValueAdjustmentOfWarrants
CY2024Q1	us-gaap	Fair Value Recurring Basis Unobservable Input Reconciliation Net Derivative Asset Liability Gain Loss Statement Of Income Extensible List FairValueRecurringBasisUnobservableInputReconciliationNetDerivativeAssetLiabilityGainLossStatementOfIncomeExtensibleList	http://fasb.org/us-gaap/2023#FairValueAdjustmentOfWarrants
CY2023Q4	us-gaap	Derivative Liability Statement Of Financial Position Extensible Enumeration DerivativeLiabilityStatementOfFinancialPositionExtensibleEnumeration	http://fasb.org/us-gaap/2023#DerivativeLiabilitiesNoncurrent
CY2024Q1	us-gaap	Derivative Liability Statement Of Financial Position Extensible Enumeration DerivativeLiabilityStatementOfFinancialPositionExtensibleEnumeration	http://fasb.org/us-gaap/2023#DerivativeLiabilitiesNoncurrent
CY2024Q1	us-gaap	Cash Cash	626136
CY2023Q4	us-gaap	Cash Cash	9
CY2024Q1	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	103750
CY2023Q4	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	155625
CY2024Q1	us-gaap	Assets Current AssetsCurrent	729886
CY2023Q4	us-gaap	Assets Current AssetsCurrent	155634
CY2024Q1	us-gaap	Assets Held In Trust Noncurrent AssetsHeldInTrustNoncurrent	25209181
CY2023Q4	us-gaap	Assets Held In Trust Noncurrent AssetsHeldInTrustNoncurrent	67545266
CY2024Q1	us-gaap	Assets Assets	25939067
CY2023Q4	us-gaap	Assets Assets	67700900
CY2024Q1	us-gaap	Accounts Payable Current AccountsPayableCurrent	524967
CY2023Q4	us-gaap	Accounts Payable Current AccountsPayableCurrent	505955
CY2024Q1	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	668603
CY2023Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	577446
CY2024Q1	us-gaap	Convertible Debt Current ConvertibleDebtCurrent	191667
CY2023Q4	us-gaap	Convertible Debt Current ConvertibleDebtCurrent	0
CY2024Q1	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	173159
CY2023Q4	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	185121
CY2024Q1	us-gaap	Accrual For Taxes Other Than Income Taxes Current AccrualForTaxesOtherThanIncomeTaxesCurrent	458575
CY2023Q4	us-gaap	Accrual For Taxes Other Than Income Taxes Current AccrualForTaxesOtherThanIncomeTaxesCurrent	374267
CY2024Q1	us-gaap	Accrued Income Taxes Current AccruedIncomeTaxesCurrent	563902
CY2023Q4	us-gaap	Accrued Income Taxes Current AccruedIncomeTaxesCurrent	511031
CY2024Q1	us-gaap	Liabilities Current LiabilitiesCurrent	2580873
CY2023Q4	us-gaap	Liabilities Current LiabilitiesCurrent	2153820
CY2024Q1	us-gaap	Long Term Notes Payable LongTermNotesPayable	947850
CY2023Q4	us-gaap	Long Term Notes Payable LongTermNotesPayable	947850
CY2024Q1	us-gaap	Derivative Liabilities Noncurrent DerivativeLiabilitiesNoncurrent	906630
CY2023Q4	us-gaap	Derivative Liabilities Noncurrent DerivativeLiabilitiesNoncurrent	906630
CY2024Q1	dmyy	Deferred Underwriting Commissions DeferredUnderwritingCommissions	2211650
CY2023Q4	dmyy	Deferred Underwriting Commissions DeferredUnderwritingCommissions	2211650
CY2024Q1	us-gaap	Liabilities Liabilities	6647003
CY2023Q4	us-gaap	Liabilities Liabilities	6219950
CY2024Q1	us-gaap	Commitments And Contingencies CommitmentsAndContingencies
CY2023Q4	us-gaap	Commitments And Contingencies CommitmentsAndContingencies
CY2024Q1	us-gaap	Temporary Equity Carrying Amount Attributable To Parent TemporaryEquityCarryingAmountAttributableToParent	24086704
CY2023Q4	us-gaap	Temporary Equity Carrying Amount Attributable To Parent TemporaryEquityCarryingAmountAttributableToParent	66559968
CY2023Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2024Q1	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2024Q1	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	1000000
CY2023Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	1000000
CY2023Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0
CY2024Q1	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0
CY2023Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0
CY2024Q1	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0
CY2024Q1	us-gaap	Preferred Stock Value PreferredStockValue	0
CY2023Q4	us-gaap	Preferred Stock Value PreferredStockValue	0
CY2024Q1	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	0
CY2023Q4	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	0
CY2024Q1	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-4794798
CY2023Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-5079176
CY2024Q1	us-gaap	Stockholders Equity StockholdersEquity	-4794640
CY2023Q4	us-gaap	Stockholders Equity StockholdersEquity	-5079018
CY2024Q1	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	25939067
CY2023Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	67700900
CY2024Q1	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	377583
CY2023Q1	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	530235
CY2024Q1	us-gaap	Taxes Other TaxesOther	84308
CY2023Q1	us-gaap	Taxes Other TaxesOther	79683
CY2024Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	-461891
CY2023Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	-609918
CY2024Q1	us-gaap	Interest Income Operating InterestIncomeOperating	91
CY2023Q1	us-gaap	Interest Income Operating InterestIncomeOperating	35
CY2024Q1	us-gaap	Investment Income Interest InvestmentIncomeInterest	346217
CY2023Q1	us-gaap	Investment Income Interest InvestmentIncomeInterest	684210
CY2024Q1	us-gaap	Fair Value Adjustment Of Warrants FairValueAdjustmentOfWarrants	0
CY2023Q1	us-gaap	Fair Value Adjustment Of Warrants FairValueAdjustmentOfWarrants	-604420
CY2024Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	346308
CY2023Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	1288665
CY2024Q1	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-115583
CY2023Q1	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	678747
CY2024Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	52871
CY2023Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	151755
CY2024Q1	us-gaap	Net Income Loss NetIncomeLoss	-168454
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	526992
CY2023Q4	us-gaap	Stockholders Equity StockholdersEquity	-5079018
CY2024Q1	us-gaap	Temporary Equity Accretion To Redemption Value TemporaryEquityAccretionToRedemptionValue	191667
CY2024Q1	dmyy	Remeasurement Of Common Stock Subject To Redemption Increase Decrease RemeasurementOfCommonStockSubjectToRedemptionIncreaseDecrease	644499
CY2024Q1	us-gaap	Net Income Loss NetIncomeLoss	-168454
CY2024Q1	us-gaap	Stockholders Equity StockholdersEquity	-4794640
CY2022Q4	us-gaap	Stockholders Equity StockholdersEquity	-5178055
CY2023Q1	dmyy	Remeasurement Of Common Stock Subject To Redemption Increase Decrease RemeasurementOfCommonStockSubjectToRedemptionIncreaseDecrease	-452772
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	526992
CY2023Q1	us-gaap	Stockholders Equity StockholdersEquity	-5103835
CY2024Q1	us-gaap	Net Income Loss NetIncomeLoss	-168454
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	526992
CY2024Q1	us-gaap	Interest And Dividend Income Operating InterestAndDividendIncomeOperating	346217
CY2023Q1	us-gaap	Interest And Dividend Income Operating InterestAndDividendIncomeOperating	684210
CY2024Q1	us-gaap	Fair Value Adjustment Of Warrants FairValueAdjustmentOfWarrants	0
CY2023Q1	us-gaap	Fair Value Adjustment Of Warrants FairValueAdjustmentOfWarrants	-604420
CY2024Q1	dmyy	General And Administrative Expenses Paid By Related Party Under Promissory Note GeneralAndAdministrativeExpensesPaidByRelatedPartyUnderPromissoryNote	106912
CY2023Q1	dmyy	General And Administrative Expenses Paid By Related Party Under Promissory Note GeneralAndAdministrativeExpensesPaidByRelatedPartyUnderPromissoryNote	0
CY2024Q1	us-gaap	Increase Decrease In Prepaid Expense IncreaseDecreaseInPrepaidExpense	-51875
CY2023Q1	us-gaap	Increase Decrease In Prepaid Expense IncreaseDecreaseInPrepaidExpense	-191523
CY2024Q1	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	67580
CY2023Q1	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	102573
CY2024Q1	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	91157
CY2023Q1	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	-1219
CY2024Q1	us-gaap	Increase Decrease In Property And Other Taxes Payable IncreaseDecreaseInPropertyAndOtherTaxesPayable	84308
CY2023Q1	us-gaap	Increase Decrease In Property And Other Taxes Payable IncreaseDecreaseInPropertyAndOtherTaxesPayable	79683
CY2024Q1	us-gaap	Increase Decrease In Accrued Income Taxes Payable IncreaseDecreaseInAccruedIncomeTaxesPayable	52871
CY2023Q1	us-gaap	Increase Decrease In Accrued Income Taxes Payable IncreaseDecreaseInAccruedIncomeTaxesPayable	151755
CY2024Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-59968
CY2023Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-237323
CY2024Q1	us-gaap	Payments To Acquire Restricted Investments PaymentsToAcquireRestrictedInvestments	191667
CY2023Q1	us-gaap	Payments To Acquire Restricted Investments PaymentsToAcquireRestrictedInvestments	0
CY2024Q1	dmyy	Amount Drawn From Trust Account To Pay Taxes AmountDrawnFromTrustAccountToPayTaxes	853537
CY2023Q1	dmyy	Amount Drawn From Trust Account To Pay Taxes AmountDrawnFromTrustAccountToPayTaxes	0
CY2024Q1	us-gaap	Proceeds From Sale Of Restricted Investments ProceedsFromSaleOfRestrictedInvestments	42020432
CY2024Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	42682302
CY2023Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	0
CY2024Q1	dmyy	Repayment Of Other Debt Related Party RepaymentOfOtherDebtRelatedParty	-167442
CY2023Q1	dmyy	Repayment Of Other Debt Related Party RepaymentOfOtherDebtRelatedParty	0
CY2024Q1	us-gaap	Proceeds From Convertible Debt ProceedsFromConvertibleDebt	191667
CY2023Q1	us-gaap	Proceeds From Convertible Debt ProceedsFromConvertibleDebt	0
CY2024Q1	us-gaap	Payments For Repurchase Of Redeemable Noncontrolling Interest PaymentsForRepurchaseOfRedeemableNoncontrollingInterest	42020432
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CY2023Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect	-237323
CY2023Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	9
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CY2024Q1	dmyy	Accounts Payable Paid By Related Party AccountsPayablePaidByRelatedParty	48568
CY2023Q1	dmyy	Accounts Payable Paid By Related Party AccountsPayablePaidByRelatedParty	0
CY2024Q1	us-gaap	Nature Of Operations NatureOfOperations	<div style="font-family: "Times New Roman"; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;text-indent: 0px;"><div style="font-weight:bold;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Note 1—Description of Organization and Business Operations </div></div></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;text-indent: 0px;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">dMY Squared Technology Group, Inc. (the “Company”) is a blank check company incorporated in Massachusetts. The Company was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses (the “Business Combination”). The Company is an emerging growth company and, as such, the Company is subject to all of the risks associated with emerging growth companies. </div></div> <div style="letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;text-indent: 0px;"><div style="display:inline;">As of March 31, 2024, the Company had not commenced any operations. All activity for the period from February 15, 2022 (inception) through March 31, 2024 relates to the Company’s formation and the initial public offering (the “Initial Public Offering”) as described below, and since the closing of the Initial Public Offering, the search for a prospective initial Business Combination. The Company will not generate any operating revenues until after the completion of its initial Business Combination, at the earliest. The Company <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">generates non-operating income</div> in the form of interest income from the proceeds derived from the Initial Public Offering. </div></div> <div style="letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"> </div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;text-indent: 0px;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">The Company’s sponsor is dMY Squared Sponsor, LLC, a Delaware limited liability company (the “Sponsor”). The registration statement for the Company’s Initial Public Offering was declared effective on September 29, 2022. On October 4, 2022, the Company consummated its Initial Public Offering of 6,000,000 units (the “units” and, with respect to the Class A common stock included in the units offered, the “Class A Shares” or the “Public Shares”), at $10.00 per unit, generating gross proceeds of $60.0 million, and incurring offering costs of approximately $3.7 million, of which $2.1 million and approximately $26,000 were for deferred underwriting commissions (see Note 5) and offering costs allocated to derivate warrant liabilities, respectively. On October 7, 2022, the underwriter exercised its over-allotment option in part, and on October 11, 2022, the underwriter purchased 319,000 additional units (the “Over-Allotment Units”), generating gross proceeds of approximately $3.2 million (the “Partial Over-Allotment”). The underwriter waived the remainder of its over-allotment option. The Company incurred additional offering costs of approximately $156,000 in connection with the Partial Over-Allotment (of which approximately $112,000 was for deferred underwriting fees). </div></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;text-indent: 0px;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Simultaneously with the closing of the Initial Public Offering, the Company consummated the private placement (“Private Placement”) of 2,840,000 warrants (the “Initial Private Placement Warrants”), at a price of $1.00 per Initial Private Placement Warrant to the Sponsor, generating proceeds of approximately $2.8 million (see Note 4). On October 11, 2022, simultaneously with the issuance and sale of the Over-Allotment Units, the Company consummated the sale of an additional 44,660 private placement warrants at $1.00 per private placement warrant (the “Additional Private Placement Warrants”, and together with the Initial Private Placement Warrants, the “Private Placement Warrants”), generating additional gross proceeds of approximately $45,000. </div></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;text-indent: 0px;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">In addition, concurrently with the closing of the Initial Public Offering, the Sponsor extended an overfunding loan to the Company in an amount of $900,000 at no interest (the “Initial Overfunding Loan”) to deposit in the Trust Account (as defined below). On October 11, 2022, simultaneously with the sale of the Over-Allotment Units, the Sponsor extended a further overfunding loan to the Company in an aggregate amount of $47,850 (the “Additional Overfunding Loan”, and together with the Initial Overfunding Loan, the “Overfunding Loans”) to deposit in the Trust Account. </div></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;text-indent: 0px;">Upon the closing of the Initial Public Offering, the Partial Over-Allotment, the Private Placement and the Overfunding Loans, approximately $64.1 million ($10.15 per unit) of the net proceeds of the sale of the units and the Private Placement Warrants and the proceeds from the Overfunding Loans were placed in a trust account (the “Trust Account”) with Continental Stock Transfer & Trust Company acting as trustee and was invested in United States government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act of 1940, as amended (the “Investment Company Act”), with a maturity of 185 days or less or in any open-ended investment company that holds itself out as a money market fund meeting certain conditions of <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;">Rule 2a-7 of</div> the Investment Company Act, as determined by the Company, until the earlier of (i) the completion of a Business Combination, (ii) the redemption of Public Shares properly submitted in connection with a shareholder vote to amend our Amended and Restated Articles of Organization <div style="null;text-indent: 0px;display:inline;">(the “Charter”) </div>to modify the substance or timing of our of our obligation to redeem 100% of our Public Shares if we do not complete our initial Business Combination within the Combination Period (as defined below) or with respect to any other material provisions relating to shareholders’ rights or <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;">pre-initial</div> Business Combination activity, and (iii) our return of the funds held in the Trust Account to <div style="null;text-indent: 0px;display:inline;">holders of our Public Shares (the “</div>Public Shareholders<div style="null;text-indent: 0px;display:inline;">”)</div> as part of our redemption of the Public Shares if we do not complete an initial Business Combination during the Combination Period. </div> <div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> <div style="text-align: center; font-family: Times New Roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> <div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">The Company’s management has broad discretion with respect to the specific application of the net proceeds of the Initial Public Offering and the sale of Private Placement Warrants, although substantially all of the net proceeds are intended to be applied generally toward consummating a Business Combination. There is no assurance that the Company will be able to complete a Business Combination successfully. The Company must complete one or more initial Business Combinations having an aggregate fair market value of at least 80% of the net assets held in the Trust Account (net of amounts disbursed to management for working capital purposes and excluding the deferred underwriting commissions and taxes payable on the interest earned on the funds held in the Trust Account) at the time of the agreement to enter into the initial Business Combination. However, the Company will only complete a Business Combination if the post-transaction company owns or acquires 50% or more of the voting securities of the target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment company under the Investment Company Act. </div></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;">The Company provides Public Shareholders with the opportunity to redeem all or a portion of their Public Shares upon the completion of a Business Combination either (i) in connection with a shareholders’ meeting called to approve the Business Combination or (ii) by means of a tender offer. The decision as to whether the Company will seek shareholder approval of a Business Combination or conduct a tender offer will be made by the Company, solely in its discretion. The Public Shareholders will be entitled to redeem their Public Shares for a pro rata portion of the amount then held in the Trust Account (initially at $10.15 per Public Share). <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">The per-share amount</div> to be distributed to Public Shareholders who redeem their Public Shares will not be reduced by the deferred underwriting commissions the Company will pay to the underwriter (as discussed in Note 5). </div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">These Public Shares are recorded at redemption value and classified as temporary equity upon the completion of the Initial Public Offering in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 480, “Distinguishing Liabilities from Equity” (“ASC 480”). The Company will proceed with a Business Combination if a majority of the shares voted are voted in favor of the Business Combination. The Company’s Charter initially required the Company to not redeem the Public Shares in an amount that would cause its net tangible assets to be less than $5,000,001. In January 2024, the shareholders approved the proposal to amend the Charter and eliminate such Redemption Limitation (as defined below). If a shareholder vote is not required by law and the Company does not decide to hold a shareholder vote for business or other legal reasons, the Company will, pursuant to its Charter, conduct the redemptions pursuant to the tender offer rules of the U.S. Securities and Exchange Commission (“SEC”) and file tender offer documents with the SEC prior to completing a Business Combination. If, however, shareholder approval of the transaction is required by law, or the Company decides to obtain shareholder approval for business or legal reasons, the Company will offer to redeem shares in conjunction with a proxy solicitation pursuant to the proxy rules and not pursuant to the tender offer rules. Additionally, each Public Shareholder may elect to redeem their Public Shares irrespective of whether they vote for or against the proposed transaction. If the Company seeks shareholder approval in connection with a Business Combination, the initial shareholders agreed to vote their Founder Shares (as defined below in Note 4) and any Public Shares purchased during or after the Initial Public Offering in favor of a Business Combination. In addition, the initial shareholders agreed to waive their redemption rights with respect to their Founder Shares and Public Shares in connection with the completion of a Business Combination. </div></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">The Company’s Charter provides that a Public Shareholder, together with any affiliate of such shareholder or any other person with whom such shareholder is acting in concert or as a “group” (as defined under Section 13 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), will be restricted from redeeming its shares with respect to more than an aggregate of 15% or more of the Public Shares, without the prior consent of the Company. </div></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;">The Sponsor and the Company’s officers agreed not to propose an amendment to the Charter to modify the substance or timing of the Company’s obligation to redeem 100% of the Public Shares if the Company does not complete a Business Combination within the Combination Period<div style="null;text-indent: 0px;display:inline;"> (as defined below),</div> or with respect to any other material provisions relating to shareholders’ rights <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;">or pre-initial Business</div> Combination activity, unless the Company provides the Public Shareholders with the opportunity to redeem their Public Shares in conjunction with any such amendment. </div> <div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> <div style="text-align: center; font-family: Times New Roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div><div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;">The Company’s Charter initially provided 15 months from the closing of the <div style="null;text-indent: 0px;display:inline;">Initial Public Offering</div>, or January 4, 2024 (the “Prior Outside Date”), to consummate an initial Business Combination. The Charter also permitted the Company, by resolution of the board of directors, to extend the period of time to consummate a Business Combination twice by an additional <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;">3-month</div> period (for a total of 21 months to complete a Business Combination), subject to the Sponsor depositing into the Trust Account $631,900 in the aggregate for each extension (the “Prior Contributions”). The Sponsor did not intend to deposit such Prior Contributions into the Trust Account. Accordingly, following January 4, 2024, the Company would have been forced to liquidate. The Company’s board determined that, in order for the Company to have additional time to complete a Business Combination in a more cost effective manner, it would be in the best interests of the Company and its shareholders to extend the Prior Outside Date to allow for a period of additional time to consummate the Business Combination. On January 2, 2024, the Company held a special meeting of its shareholders (the “Special Meeting”). At the Special Meeting, the Company’s shareholders approved an amendment of the Charter to extend (the “Extension”) the date by which the Company has to consummate a Business Combination up to twenty-three (23) times for an additional one (1) month each time (each, an “Extension Period”), with the first Extension Period being from January 4, 2024 to January 29, 2024 (the “Extended Date”) and each subsequent Extension Period being one calendar month each time, until up to December 29, 2025 (each, an “Additional Extended Date”, and such period in its entirety, from the <div style="null;text-indent: 0px;display:inline;"><br/>Initial Public Offering</div> until the final Additional Extended Date, the “Combination Period”), only if the Sponsor or its designee would deposit (the “Contribution”) into the Trust Account as a loan, (i) on or before January 4, 2024, with respect to the initial extension to the Extended Date, an amount of $41,667, and (ii) one business day following the public announcement by us disclosing that the board of directors has determined to implement an additional monthly extension, with respect to each such Extension Period, an amount of $50,000. In connection with the shareholder approval of the Extension, an aggregate of 3,980,414 Public Shares were redeemed, and the Company paid approximately $42 million accordingly on January 4, 2024. </div> <div style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">At the Special Meeting, the Company’s shareholders also approved proposals to (1) amend the Charter to provide for the right of a holder of Class B Shares to convert their Class B Shares into Class A Shares on <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">a one-for-one basis</div></div> at any time and from time to time at the election of the holder; (2) amend the Charter to eliminate from the Charter (i) the limitation that the Company may not redeem Public Shares in an amount that would cause its net tangible assets to be less than $5,000,001 and (ii) the limitation that the Company shall not consummate a Business Combination unless it has net tangible assets of at least $5,000,001<div style="null;text-indent: 0px;display:inline;"> (collectively, the “Redemption Limitation”);</div> (3) amend the Charter to permit the board of directors, in its sole discretion, to elect to wind up operations on an earlier date than the Extended Date or Additional Extended Date, as applicable, as determined by the board of directors and included in a public announcement (the “Liquidation Amendment”); and (4) amend the Investment Management Trust Agreement between the Company and Continental Stock Transfer and Trust Company to reflect the Extension and the Liquidation Amendment. </div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;text-indent: 0px;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">In connection with the Contribution and advances the Sponsor may make in the future to the Company for working capital expenses, on January 2, 2024, the Company issued a convertible promissory note to Harry L. You, Chairman and Chief Financial Officer and an affiliate of the Sponsor (the “Payee”), with a principal amount up to $1.75 million (the “Convertible Note”). The Convertible Note bears no interest and is repayable on the earlier of (i) the date on which the Company consummates an initial Business Combination and (ii) the liquidation date. If the Company does not consummate a Business Combination before the end of the Combination Period, the Convertible Note will be repaid only from funds held outside of the Trust Account or will be forfeited, eliminated or otherwise forgiven. Upon the consummation of the initial Business Combination, the outstanding principal of the Convertible Note may be converted into warrants, at a price of $1.00 per warrant, at the option of the Payee. </div></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;text-indent: 0px;">Since January 2, 2024, the board of directors has elected to extend the liquidation date <div style="null;text-indent: 0px;display:inline;">five times </div>to May 29, 2024. Accordingly, the Company has drawn down from the Convertible Note and deposited $241,667 into the Trust Account in connection with such <div style="null;text-indent: 0px;display:inline;">extensions</div>. If the Company is unable to complete the Business Combination before the end of the Combination Period, the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than <div style="-sec-ix-hidden:hidden114080002;display:inline;">ten</div> business days thereafter subject to lawfully available funds therefor, redeem one hundred percent (100%) of the Offering Shares in consideration of a <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;">per-share</div> price, payable in cash, equal to the quotient obtained by dividing (A) the aggregate amount then on deposit in the Trust Account, including interest not previously released to the <div style="null;text-indent: 0px;display:inline;">Company</div> to pay its taxes (less up to $100,000 of interest to pay dissolution expenses), by (B) the total number of then outstanding Offering Shares, which redemption will completely </div> <div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> <div style="text-align: center; font-family: Times New Roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div><div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">extinguish rights of the Public Shareholders (including the right to receive further liquidating distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the remaining shareholders and the board of directors in accordance with applicable law, dissolve and liquidate, subject in each case to the Company’s obligations under the MBCA to provide for claims of creditors and other requirements of applicable law. </div></div></div> <div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">If the initial shareholders acquire Public Shares, they will be entitled to liquidating distributions from the Trust Account with respect to such Public Shares if the Company fails to complete a Business Combination within the Combination Period. The underwriter agreed to waive its rights to the deferred underwriting commission (see Note 5) held in the Trust Account in the event the Company does not complete a Business Combination within the Combination Period and, in such event, such amounts will be included with the other funds held in the Trust Account that will be available to fund the redemption of the Public Shares. In the event of such distribution, it is possible that the per share value of the residual assets remaining available for distribution (including Trust Account assets) will be only $10.15. In order to protect the amounts held in the Trust Account, the Sponsor has agreed to be liable to the Company if and to the extent any claims by a third party (except for the Company’s independent registered public accounting firm) for services rendered or products sold to the Company, or a prospective target business with which the Company has entered into a letter of intent, confidentiality or other similar agreement or Business Combination agreement (a “Target”), reduce the amount of funds in the Trust Account to below the lesser of (i) $10.15 per Public Share and (ii) the actual amount per Public Share held in the Trust Account as of the date of the liquidation of the Trust Account, if less than $10.15 per Public Share due to reductions in the value of the trust assets, less taxes payable, provided that such liability will not apply to any claims by a third party or Target that executed a waiver of any and all rights to the monies held in the Trust Account (whether or not such waiver is enforceable) nor will it apply to any claims under the Company’s indemnity of the underwriter of the Initial Public Offering against certain liabilities, including liabilities under the Securities Act of 1933, as amended (the “Securities Act”). The Company will seek to reduce the possibility that the Sponsor will have to indemnify the Trust Account due to claims of creditors by endeavoring to have all vendors, service providers (except the Company’s independent registered public accounting firm), prospective target businesses or other entities with which the Company does business, execute agreements with the Company waiving any right, title, interest or claim of any kind in or to monies held in the Trust Account. </div></div> <div style="font-family: "Times New Roman"; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt;"><div style="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Going Concern Consideration </div></div></div></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">As of March 31, 2024, the Company had <div style="text-indent: 0px; letter-spacing: 0px; top: 0px;display:inline;">approximately $626,000 in</div> cash and working capital deficit of approximately $1.9 million (including tax obligations of approximately $1.0 million that may be paid using <div style="null;text-indent: 0px;display:inline;">interest</div> income earned in the Trust Account). Further, the Company has incurred and expects to continue to incur significant costs in pursuit of its acquisition plans. </div></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Prior to the consummation of the Initial Public Offering, the Company’s liquidity needs were satisfied through the payment of $25,000 from the Sponsor to purchase Founder Shares (as defined in Note 4) and a loan under the Note (as defined in Note 4) in the amount of approximately $145,000. The Company fully repaid the Note balance on October 4, 2022. The Note was no longer available to the Company after closing of its Initial Public Offering. Subsequent to the closing of the Initial Public Offering and the Partial Over-Allotment, the Company’s liquidity needs have been satisfied through the net proceeds from the consummation of the Initial Public Offering and the Private Placement held outside of the Trust Account and advances from related parties (approximately $173,000 outstanding as of March 31, 2024). Subsequent to March 31, 2024, the Company borrowed an additional amount of approximately $5,000 from related parties, <div style="null;text-indent: 0px;display:inline;">increasing</div> the total outstanding<div style="null;text-indent: 0px;display:inline;"> amount of advances</div> to approximately $178,000. </div></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">In addition, in order to provide the Contribution and to finance transaction costs in connection with a Business Combination, the Company issued the Convertible Note to the <div style="null;text-indent: 0px;display:inline;">Payee</div> with a principal amount up to $1.75 million on January 2, 2024 as discussed above. The Company borrowed $191,667 under the Convertible Note from January through March 2024, and an additional amount of $50,000 in April 2024, <div style="null;text-indent: 0px;display:inline;">increasing</div> the total amount outstanding under the Convertible Note to $241,667. All proceeds received under the Convertible Note <div style="null;text-indent: 0px;display:inline;">were</div> contributed into the Trust Account in connection with extensions to extend the Combination Period to May 29, 2024. </div></div> <div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> <div style="text-align: center; font-family: Times New Roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div><div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="display:inline;">In connection with the management’s assessment of going concern considerations in accordance with FASB Accounting Standards Update <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">(“ASU”) 2014-15, “Disclosure</div> of Uncertainties about an Entity’s Ability to Continue as a Going Concern,” the Company’s management has determined that the liquidity condition, mandatory liquidation, should a Business Combination not occur, and potential subsequent dissolution raises substantial doubt about its ability to continue as a going concern through the earlier of the liquidation date or the completion of the initial Business Combination. There is no assurance that the Company’s plans to consummate the initial Business Combination will be successful or successful within the Combination Period. The unaudited condensed financial statements included in this Report do not include any adjustments that might result from the outcome of this uncertainty. </div></div> <div style="font-family: "Times New Roman"; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt;"><div style="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Risks and Uncertainties </div></div></div></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">In February 2022, the Russian Federation and Belarus commenced a military action with the country of Ukraine. As a result of this action, various nations, including the United States, have instituted economic sanctions against the Russian Federation and Belarus. Further, the impact of this action and related sanctions on the world economy is not determinable as of the date of these unaudited condensed financial statements. The specific impact on the Company’s financial condition, results of operations, and cash flows is also not determinable as of the date of these unaudited condensed financial statements. </div></div> <div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;text-indent: 0px;"><div style="display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">On October 7, 2023, Hamas militants and members of other terrorist organizations infiltrated Israel’s southern border from the Gaza Strip and conducted a series of terror attacks on civilian and military targets. The intensity and duration of Israel’s current war against Hamas is difficult to predict, as are such war’s economic implications on the Company’s business and operations and on Israel’s economy in general. The specific impact on the Company’s financial condition, results of operations, and cash flows is also not determinable as of the date of these unaudited condensed financial statements. </div></div></div> <div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">On August 16, 2022, the Inflation Reduction Act of 2022 (the “IR Act”) was signed into federal law. The IR Act provides for, among other things, a U.S. federal 1% excise tax on certain repurchases of stock by publicly traded U.S. domestic corporations and certain U.S. domestic subsidiaries of publicly traded foreign corporations occurring on or after January 1, 2023. The excise tax is imposed on the repurchasing corporation itself, not its shareholders from which shares are repurchased. The amount of the excise tax is generally 1% of the fair market value of the shares repurchased at the time of the repurchase. However, for purposes of calculating the excise tax, repurchasing corporations are permitted to net the fair market value of certain new stock issuances against the fair market value of stock repurchases during the same taxable year. In addition, certain exceptions apply to the excise tax. The<div style="null;text-indent: 0px;display:inline;"> U.S. Department of</div> Treasury has been given authority to provide regulations and other guidance to carry out and prevent the abuse or avoidance of the excise tax. Any share redemption or other share repurchase that occurs after December 31, 2023, in connection with a Business Combination, extension vote or otherwise, may be subject to the excise tax. Whether and to what extent the Company would be subject to the excise tax on a redemption of Public Shares or other stock of the Company in connection with a Business Combination, extension vote or otherwise will depend on a number of factors, including (i) whether the redemption is treated as a repurchase of stock for purposes of the excise tax, (ii) the fair market value of the redemption treated as a repurchase of stock in connection with the Business Combination, extension or otherwise, (ii) the structure of a Business Combination, (iii) the nature and amount of any private investment in public equity (PIPE) financing or other equity issuances in connection with a Business Combination (or otherwise issued not in connection with a Business Combination but issued within the same taxable year of a redemption treated as a repurchase of stock) and (iv) the content of regulations and other guidance from the Treasury. As noted above, the excise tax would be payable by the Company and not by the redeeming holder. The imposition of the excise tax could cause a reduction in the cash available on hand to complete a Business Combination or for effecting redemptions and may affect the Company’s ability to complete a Business Combination. </div></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;text-indent: 0px;"><div style="display:inline;">On December 27, 2022, the Treasury and Internal Revenue Service issued a <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Notice 2023-2</div> (the “Notice”), which provided interim guidance regarding the application of the corporate stock repurchase excise tax until the issuance of proposed regulations. The Notice excluded the distributions upon complete liquidation of a corporation from the base of the excise tax. The Notice also excludes from the scope of the excise tax any distribution made during the taxable year in which a corporation fully liquidates and dissolves, even if a distribution precedes the formal decision to liquidate. Although such Notice clarifies certain aspects of the excise tax, the interpretation and operation of other aspects of the excise tax remain unclear, and such interim operating rules are subject to change. </div></div>
CY2022Q4	us-gaap	Payments To Acquire Restricted Investments PaymentsToAcquireRestrictedInvestments	64100000
CY2022Q4	dmyy	Payment Per Share Restricted Investments PaymentPerShareRestrictedInvestments	10.15
CY2022Q4	dmyy	Term Of Restricted Investments TermOfRestrictedInvestments	P185D
CY2022Q4	dmyy	Percentage Of Redemption Of Public Shares Incase Of Non Completion Of Initial Business Combination PercentageOfRedemptionOfPublicSharesIncaseOfNonCompletionOfInitialBusinessCombination	1
CY2024Q1	us-gaap	Temporary Equity Redemption Price Per Share TemporaryEquityRedemptionPricePerShare	10.15
CY2024Q1	us-gaap	Minimum Net Worth Required For Compliance MinimumNetWorthRequiredForCompliance	5000001
CY2024Q1	dmyy	Percentage Of Publicshares That Can Be Transferred Without Any Restriction PercentageOfPublicsharesThatCanBeTransferredWithoutAnyRestriction	0.15
CY2024Q1	dmyy	Percentage Of Public Shares To Be Redeemed On Non Completion Of Business Combination PercentageOfPublicSharesToBeRedeemedOnNonCompletionOfBusinessCombination	1
CY2024Q1	dmyy	No Of Redeemable Shares NoOfRedeemableShares	3980414
CY2024Q1	us-gaap	Redeemable Noncontrolling Interest Equity Common Redemption Value RedeemableNoncontrollingInterestEquityCommonRedemptionValue	42000000
CY2024Q1	dmyy	Business Combinations Tangible Assets Net BusinessCombinationsTangibleAssetsNet	5000001
CY2024Q1	dmyy	Business Combinations Tangible Assets Net BusinessCombinationsTangibleAssetsNet	5000001
CY2024Q1	dmyy	Percentage Of Shares To Be Reedemed PercentageOfSharesToBeReedemed	1
CY2024Q1	us-gaap	Liquidation Basis Of Accounting Accrued Costs To Dispose Of Assets And Liabilities LiquidationBasisOfAccountingAccruedCostsToDisposeOfAssetsAndLiabilities	100000
CY2024Q1	dmyy	Per Share Amount In The Trust Minimum PerShareAmountInTheTrustMinimum	10.15
CY2024Q1	dmyy	Per Share Amount In The Trust Maximum PerShareAmountInTheTrustMaximum	10.15
CY2024Q1	us-gaap	Cash Cash	626000
CY2024Q1	dmyy	Net Working Capital NetWorkingCapital	1900000
CY2024Q1	dmyy	Income Taxes Payable By Interest Income In Trust IncomeTaxesPayableByInterestIncomeInTrust	1000000
CY2024Q1	us-gaap	Cash Equivalents At Carrying Value CashEquivalentsAtCarryingValue	0
CY2023Q4	us-gaap	Cash Equivalents At Carrying Value CashEquivalentsAtCarryingValue	0
CY2024Q1	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<div style="font-family: "Times New Roman"; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt;"><div style="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Concentration of Credit Risk </div></div></div></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution, which, regularly exceed the Federal Deposit Insurance Corporation coverage limit of $250,000. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations, and cash flows. </div></div>
CY2024Q1	us-gaap	Cash Fdic Insured Amount CashFDICInsuredAmount	250000
	dmyy	Investment Threshold Period InvestmentThresholdPeriod	P185D
CY2024Q1	us-gaap	Use Of Estimates UseOfEstimates	<div style="font-family: "Times New Roman"; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt;"><div style="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Use of Estimates </div></div></div></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">The preparation of the unaudited condensed financial statements in conformity with GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed financial statements and the reported amounts of revenues and expenses during the reporting periods. </div></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the unaudited condensed financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. One of the more significant accounting estimates included in these unaudited condensed financial statements is the determination of the fair value of the derivative warrant liabilities. Such estimates may be subject to change as more current information becomes available and accordingly the actual results could differ significantly from those estimates. </div></div>
CY2024Q1	us-gaap	Deferred Tax Assets Net DeferredTaxAssetsNet	584000
CY2023Q4	us-gaap	Deferred Tax Assets Net DeferredTaxAssetsNet	505000
CY2024Q1	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	0
CY2023Q4	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	0
CY2024Q1	us-gaap	Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued	0
CY2023Q4	us-gaap	Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued	0
CY2024Q1	us-gaap	Proceeds From Convertible Debt ProceedsFromConvertibleDebt	191667
CY2024Q1	dmyy	Underwriting Discount Paid Per Unit UnderwritingDiscountPaidPerUnit	0.14
CY2024Q1	us-gaap	Payments For Underwriting Expense PaymentsForUnderwritingExpense	800000
CY2024Q1	dmyy	Additional Fee For Deferred Underwriting Commissions Per Unit AdditionalFeeForDeferredUnderwritingCommissionsPerUnit	0.35
CY2024Q1	dmyy	Deferred Underwriting Commissions Noncurrent DeferredUnderwritingCommissionsNoncurrent	2100000
CY2024Q1	us-gaap	Class Of Warrant Or Right Outstanding ClassOfWarrantOrRightOutstanding	6044160
CY2024Q1	us-gaap	Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1 ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1	11.5
CY2024Q1	dmyy	Proceeds From Equity Used For Funding Business Combination As A Percentage Of The Total ProceedsFromEquityUsedForFundingBusinessCombinationAsAPercentageOfTheTotal	0.60
CY2024Q1	dmyy	Number Of Consecutive Trading Days For Determining Volume Weighted Average Price Of Shares NumberOfConsecutiveTradingDaysForDeterminingVolumeWeightedAveragePriceOfShares	P20D
CY2024Q1	dmyy	Number Of Trading Days For Determining The Share Price NumberOfTradingDaysForDeterminingTheSharePrice	P10D
CY2024Q1	us-gaap	Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight	0.361
CY2023Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	1000000
CY2023Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2023Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0
CY2024Q1	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0
CY2024Q1	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0
CY2023Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0
CY2024Q1	us-gaap	Shares Subject To Mandatory Redemption Settlement Terms Number Of Shares SharesSubjectToMandatoryRedemptionSettlementTermsNumberOfShares	3980414
CY2024Q1	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	42000000

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$DMYY
DMY Squared Technology Group Inc Stock $dmyy

2024 Q1 Form 10-Q Financial Statement

#000119312524139408 Filed on May 15, 2024

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$DMYY DMY Squared Technology Group Inc Stock $dmyy

2024 Q1 Form 10-Q Financial Statement

#000119312524139408 Filed on May 15, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$DMYY
DMY Squared Technology Group Inc Stock $dmyy