$RFAC
RF Acquisition Corp. Stock $rfac

$rfac Overview Financials Valuation SEC Filings Company Website

2023 Q4 Form 10-K Financial Statement

#000110465924051951 Filed on April 25, 2024

Income Statement

Concept	2023 Q4	2023
Revenue	$0.00	$0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses	$924.3K	$2.621M
YoY Change	206.57%	205.29%
Operating Profit		-$2.621M
YoY Change		205.29%
Interest Expense	$608.7K	$2.822M
YoY Change	-35.89%	71.41%
% of Operating Profit
Other Income/Expense, Net	-$53.61K	$2.606M
YoY Change	7.22%	80.08%
Pretax Income	-$369.2K	-$14.95K
YoY Change	-161.76%	-102.54%
Income Tax	$117.3K	$550.5K
% Of Pretax Income
Net Earnings	-$486.5K	-$565.4K
YoY Change	-218.96%	-298.58%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share	-$0.07	-$0.06
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept	2023 Q4	2023
SHORT-TERM ASSETS
Cash & Short-Term Investments	$188.2K	$188.2K
YoY Change	852.63%	852.63%
Cash & Equivalents	$188.2K
Short-Term Investments
Other Short-Term Assets	$57.97K	$57.97K
YoY Change	-79.54%	-79.54%
Inventory
Prepaid Expenses	$57.97K
Receivables
Other Receivables
Total Short-Term Assets	$246.2K	$246.2K
YoY Change	-18.79%	-18.79%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$29.72M	$29.72M
YoY Change	-74.76%	-74.76%
Other Assets	$0.00	$0.00
YoY Change	-100.0%	-100.0%
Total Long-Term Assets	$29.72M	$29.72M
YoY Change	-74.77%	-74.77%
TOTAL ASSETS
Total Short-Term Assets	$246.2K	$246.2K
Total Long-Term Assets	$29.72M	$29.72M
Total Assets	$29.96M	$29.96M
YoY Change	-74.63%	-74.63%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$1.524M	$1.524M
YoY Change	986.29%	986.29%
Accrued Expenses	$38.75K	$38.75K
YoY Change	-77.78%	-77.78%
Deferred Revenue
YoY Change
Short-Term Debt	$1.203M	$1.203M
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$5.116M	$5.116M
YoY Change	367.3%	367.3%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities	$0.00	$0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities	$5.116M	$5.116M
Total Long-Term Liabilities	$0.00	$0.00
Total Liabilities	$5.116M	$5.116M
YoY Change	367.3%	367.3%
SHAREHOLDERS EQUITY
Retained Earnings	-$4.681M
YoY Change	2974.55%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	-$4.680M	$24.85M
YoY Change
Total Liabilities & Shareholders Equity	$29.96M	$29.96M
YoY Change	-74.63%	-74.63%

Cashflow Statement

Concept	2023 Q4	2023
OPERATING ACTIVITIES
Net Income	-$486.5K	-$565.4K
YoY Change	-218.96%	-298.58%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities	-$733.1K	-$1.986M
YoY Change	176.41%	23.93%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities	$14.86M	$90.83M
YoY Change		-178.25%
Cash From Investing Activities	$14.86M	$90.83M
YoY Change		-178.25%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-13.94M	-88.67M
YoY Change		-175.34%
NET CHANGE
Cash From Operating Activities	-733.1K	-1.986M
Cash From Investing Activities	14.86M	90.83M
Cash From Financing Activities	-13.94M	-88.67M
Net Change In Cash	184.2K	168.5K
YoY Change	-169.44%	752.65%
FREE CASH FLOW
Cash From Operating Activities	-$733.1K	-$1.986M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value
CY2023Q4	us-gaap	Commitments And Contingencies CommitmentsAndContingencies
CY2022Q4	us-gaap	Commitments And Contingencies CommitmentsAndContingencies
CY2023Q4	us-gaap	Preferred Stock Value PreferredStockValue
CY2022Q4	us-gaap	Preferred Stock Value PreferredStockValue
CY2022Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0
CY2023Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0
CY2022Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0
CY2023Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0
CY2022Q4	rfacu	Fairvalueassetslevel2tolevel1transfersamount1 Fairvalueassetslevel2tolevel1transfersamount1	0
CY2023Q4	rfacu	Fairvalueassetslevel2tolevel1transfersamount1 Fairvalueassetslevel2tolevel1transfersamount1	0
CY2022	us-gaap	Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet	0
CY2023	us-gaap	Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet	0
CY2023	dei	Entity Central Index Key EntityCentralIndexKey	0001847607
CY2023	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2023	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2023
CY2023	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	FY
CY2023	dei	Amendment Flag AmendmentFlag	false
CY2022Q1	rfacu	Redemption Of Shares Calculated Based On Number Of Business Days Prior To Consummation Of Business Combination RedemptionOfSharesCalculatedBasedOnNumberOfBusinessDaysPriorToConsummationOfBusinessCombination	P10D
CY2023Q4	us-gaap	Notes Payable Current Related Party Type Extensible Enumeration NotesPayableCurrentRelatedPartyTypeExtensibleEnumeration	http://fasb.org/us-gaap/2023#RelatedPartyMember
CY2023	dei	Document Type DocumentType	10-K
CY2023	dei	Document Annual Report DocumentAnnualReport	true
CY2023	dei	Document Period End Date DocumentPeriodEndDate	2023-12-31
CY2023	dei	Document Transition Report DocumentTransitionReport	false
CY2023	dei	Entity File Number EntityFileNumber	001-41332
CY2023	dei	Entity Registrant Name EntityRegistrantName	RF Acquisition Corp.
CY2023	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	DE
CY2023	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	61-1991323
CY2023	dei	City Area Code CityAreaCode	65
CY2023	dei	Entity Address Address Line1 EntityAddressAddressLine1	111 Somerset, #05-06
CY2023	dei	Entity Address Country EntityAddressCountry	SG
CY2023	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	238164
CY2023	dei	Local Phone Number LocalPhoneNumber	6904 0766
CY2023	dei	Entity Well Known Seasoned Issuer EntityWellKnownSeasonedIssuer	No
CY2023	dei	Entity Voluntary Filers EntityVoluntaryFilers	No
CY2023	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2023	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
CY2023	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
CY2023	dei	Entity Small Business EntitySmallBusiness	true
CY2023	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	true
CY2023	dei	Entity Ex Transition Period EntityExTransitionPeriod	false
CY2023	dei	Icfr Auditor Attestation Flag IcfrAuditorAttestationFlag	false
CY2023	dei	Document Fin Stmt Error Correction Flag DocumentFinStmtErrorCorrectionFlag	false
CY2023	dei	Entity Shell Company EntityShellCompany	true
CY2022Q2	dei	Entity Public Float EntityPublicFloat	74990802
CY2023Q4	ecd	Rule10b51 Arr Adopted Flag Rule10b51ArrAdoptedFlag	false
CY2023Q4	ecd	Non Rule10b51 Arr Adopted Flag NonRule10b51ArrAdoptedFlag	false
CY2023Q4	ecd	Rule10b51 Arr Trmntd Flag Rule10b51ArrTrmntdFlag	false
CY2023Q4	ecd	Non Rule10b51 Arr Trmntd Flag NonRule10b51ArrTrmntdFlag	false
CY2023	dei	Auditor Firm AuditorFirmId	688
CY2023	dei	Auditor Name AuditorName	Marcum LLP
CY2023	dei	Auditor Location AuditorLocation	Boston, MA
CY2023Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	188235
CY2022Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	19759
CY2023Q4	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	57967
CY2022Q4	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	283400
CY2023Q4	us-gaap	Assets Current AssetsCurrent	246202
CY2022Q4	us-gaap	Assets Current AssetsCurrent	303159
CY2022Q4	us-gaap	Prepaid Expense Noncurrent PrepaidExpenseNoncurrent	61403
CY2023Q4	us-gaap	Assets Held In Trust Noncurrent AssetsHeldInTrustNoncurrent	29718024
CY2022Q4	us-gaap	Assets Held In Trust Noncurrent AssetsHeldInTrustNoncurrent	117724476
CY2023Q4	us-gaap	Assets Assets	29964226
CY2022Q4	us-gaap	Assets Assets	118089038
CY2023Q4	us-gaap	Accounts Payable And Accrued Liabilities Current AccountsPayableAndAccruedLiabilitiesCurrent	1524167
CY2022Q4	us-gaap	Accounts Payable And Accrued Liabilities Current AccountsPayableAndAccruedLiabilitiesCurrent	140312
CY2023Q4	rfacu	Franchise Tax Payable FranchiseTaxPayable	38750
CY2022Q4	rfacu	Franchise Tax Payable FranchiseTaxPayable	174355
CY2023Q4	us-gaap	Accrued Income Taxes Current AccruedIncomeTaxesCurrent	50465
CY2022Q4	us-gaap	Accrued Income Taxes Current AccruedIncomeTaxesCurrent	303890
CY2023Q4	us-gaap	Sales And Excise Tax Payable Current SalesAndExciseTaxPayableCurrent	906736
CY2023Q4	us-gaap	Notes Payable Current NotesPayableCurrent	1202992
CY2023Q4	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	1392629
CY2022Q4	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	476179
CY2023Q4	us-gaap	Liabilities Liabilities	5115739
CY2022Q4	us-gaap	Liabilities Liabilities	1094736
CY2023Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	10.76
CY2022Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	10.19
CY2023Q4	us-gaap	Temporary Equity Carrying Amount Attributable To Parent TemporaryEquityCarryingAmountAttributableToParent	29528809
CY2022Q4	us-gaap	Temporary Equity Carrying Amount Attributable To Parent TemporaryEquityCarryingAmountAttributableToParent	117146232
CY2022Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2023Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2022Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	1000000
CY2023Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	1000000
CY2023	rfacu	Payments For Investment Of Cash In Trust Account PaymentsForInvestmentOfCashInTrustAccount	1125000
CY2022	rfacu	Payments For Investment Of Cash In Trust Account PaymentsForInvestmentOfCashInTrustAccount	116150000
CY2022Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0
CY2023Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0
CY2023Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-4680630
CY2022Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-152238
CY2023Q4	us-gaap	Stockholders Equity StockholdersEquity	-4680322
CY2022Q4	us-gaap	Stockholders Equity StockholdersEquity	-151930
CY2023Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	29964226
CY2022Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	118089038
CY2023	us-gaap	Operating Costs And Expenses OperatingCostsAndExpenses	2620882
CY2022	us-gaap	Operating Costs And Expenses OperatingCostsAndExpenses	858479
CY2023	us-gaap	Operating Income Loss OperatingIncomeLoss	-2620882
CY2022	us-gaap	Operating Income Loss OperatingIncomeLoss	-858479
CY2023	us-gaap	Interest Income Other InterestIncomeOther	2822256
CY2022	us-gaap	Interest Income Other InterestIncomeOther	1646459
CY2023	rfacu	Franchise Tax Expense FranchiseTaxExpense	200996
CY2022	rfacu	Franchise Tax Expense FranchiseTaxExpense	199365
CY2023	rfacu	Tax Underpayment Penalty TaxUnderpaymentPenalty	15331
CY2023	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	2605929
CY2022	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	1447094
CY2023	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-14953
CY2022	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	588615
CY2023	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	550465
CY2022	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	303890
CY2023	us-gaap	Net Income Loss NetIncomeLoss	-565418
CY2022	us-gaap	Net Income Loss NetIncomeLoss	284725
CY2021Q4	us-gaap	Stockholders Equity StockholdersEquity	-6762
CY2022	us-gaap	Adjustments To Additional Paid In Capital Stock Issued Issuance Costs AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts	24766
CY2022	rfacu	Stock Issued During Period Value Costs Related To Issuance Of Employee Benefits Corporation Shares StockIssuedDuringPeriodValueCostsRelatedToIssuanceOfEmployeeBenefitsCorporationShares	519415
CY2022	rfacu	Proceeds Allocated To Public Warrants ProceedsAllocatedToPublicWarrants	-850000
CY2022	rfacu	Proceeds Allocated To Rights ProceedsAllocatedToRights	-6920000
CY2022	rfacu	Stock Issued During Period Value Warrants Issuance Costs StockIssuedDuringPeriodValueWarrantsIssuanceCosts	-94647
CY2022	rfacu	Stock Issued During Period Value Rights Issuance Costs StockIssuedDuringPeriodValueRightsIssuanceCosts	-237904
CY2022	us-gaap	Adjustments To Additional Paid In Capital Warrant Issued AdjustmentsToAdditionalPaidInCapitalWarrantIssued	5000000
CY2022	rfacu	Proceeds From Issuance Of Founder Shares To Sponsor ProceedsFromIssuanceOfFounderSharesToSponsor	-25020
CY2022	us-gaap	Temporary Equity Accretion To Redemption Value Adjustment TemporaryEquityAccretionToRedemptionValueAdjustment	13387011
CY2022	us-gaap	Net Income Loss NetIncomeLoss	284725
CY2022Q4	us-gaap	Stockholders Equity StockholdersEquity	-151930
CY2023	us-gaap	Profit Loss ProfitLoss	-565418
CY2022	us-gaap	Profit Loss ProfitLoss	284725
CY2023	us-gaap	Investment Income Interest InvestmentIncomeInterest	2822256
CY2022	us-gaap	Investment Income Interest InvestmentIncomeInterest	1646459
CY2023	us-gaap	Increase Decrease In Prepaid Expense IncreaseDecreaseInPrepaidExpense	-286836
CY2022	us-gaap	Increase Decrease In Prepaid Expense IncreaseDecreaseInPrepaidExpense	344803
CY2023	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	1383855
CY2022	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	-433063
CY2023	us-gaap	Increase Decrease In Due To Related Parties Current IncreaseDecreaseInDueToRelatedPartiesCurrent	120000
CY2022	us-gaap	Increase Decrease In Due To Related Parties Current IncreaseDecreaseInDueToRelatedPartiesCurrent	90000
CY2023	us-gaap	Increase Decrease In Accrued Income Taxes Payable IncreaseDecreaseInAccruedIncomeTaxesPayable	-253425
CY2022	us-gaap	Increase Decrease In Accrued Income Taxes Payable IncreaseDecreaseInAccruedIncomeTaxesPayable	303890
CY2023	rfacu	Increase Decrease Franchise Tax Payable IncreaseDecreaseFranchiseTaxPayable	-135605
CY2022	rfacu	Increase Decrease Franchise Tax Payable IncreaseDecreaseFranchiseTaxPayable	143232
CY2023	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-1986013
CY2022	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-1602478
CY2023	rfacu	Trust Account Withdrawal For Redeeming Stockholder Payments Investing Activities TrustAccountWithdrawalForRedeemingStockholderPaymentsInvestingActivities	90673661
CY2022	rfacu	Trust Account Withdrawal For Redeeming Stockholder Payments Investing Activities TrustAccountWithdrawalForRedeemingStockholderPaymentsInvestingActivities	71983
CY2023	rfacu	Trust Account Withdrawal For Tax Payments TrustAccountWithdrawalForTaxPayments	1280047
CY2023	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	90828708
CY2022	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-116078017
CY2022	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	25020
CY2022	rfacu	Net Proceeds From Initial Public Offering NetProceedsFromInitialPublicOffering	112700000
CY2022	us-gaap	Payments Of Stock Issuance Costs PaymentsOfStockIssuanceCosts	24766
CY2022	us-gaap	Proceeds From Issuance Of Warrants ProceedsFromIssuanceOfWarrants	5000000
CY2023	us-gaap	Proceeds From Related Party Debt ProceedsFromRelatedPartyDebt	1202992
CY2023	rfacu	Proceeds From Sponsor For Working Capital ProceedsFromSponsorForWorkingCapital	796450
CY2023	us-gaap	Payments Of Dividends Common Stock PaymentsOfDividendsCommonStock	90673661
CY2023	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-88674219
CY2022	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	117700254
CY2023	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	168476
CY2022	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	19759
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	19759
CY2023Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	188235
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	19759
CY2023	us-gaap	Income Taxes Paid IncomeTaxesPaid	819221
CY2022	rfacu	Offering Costs Included In Accounts Payable Accrued Expenses OfferingCostsIncludedInAccountsPayableAccruedExpenses	346861
CY2022	rfacu	Offering Costs Included In Due To Sponsor OfferingCostsIncludedInDueToSponsor	30995
CY2023	rfacu	Excise Tax On Stockholder Redemption Non Cash Investing And Financing Activities ExciseTaxOnStockholderRedemptionNonCashInvestingAndFinancingActivities	906736
CY2023	rfacu	Non Cash Of Accretion Of Class Common Stock Subject To Possible Redemption NonCashOfAccretionOfClassCommonStockSubjectToPossibleRedemption	3056238
CY2022	rfacu	Non Cash Of Accretion Of Class Common Stock Subject To Possible Redemption NonCashOfAccretionOfClassCommonStockSubjectToPossibleRedemption	13387011
CY2023	us-gaap	Nature Of Operations NatureOfOperations	<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:center;margin:0pt;">RF ACQUISITION CORP.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:center;margin:0pt 0pt 12pt 0pt;">NOTES TO FINANCIAL STATEMENTS</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS, AND GOING CONCERN</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">RF Acquisition Corp. (the “Company”) is a blank check company incorporated in Delaware on January 11, 2021. 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”). Although the Company is not limited to a particular industry or sector for purposes of consummating a Business Combination, the Company intends to focus its search for an initial business combination on companies that are within the financial services, media, technology, retail, interpersonal communication, transportation, and education sectors. The Company is an emerging growth company and, as such, the Company is subject to all of the risks associated with emerging growth companies.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">As of December 31, 2023, the Company had not yet commenced any operations. All activities for the period from January 11, 2021 (inception) through December 31, 2023, relates to the Company’s formation and the initial public offering (“the Initial Public Offering”) which is described below. The Company will not generate any operating revenues until after the completion of its initial Business Combination, at the earliest. The Company will generate non-operating income in the form of interest income from the proceeds derived from the Initial Public Offering. The Company has selected December 31 as its fiscal year end.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The registration statement for the Company’s Initial Public Offering was declared effective on March 23, 2022. On March 28, 2022, the Company consummated the Initial Public Offering of 10,000,000 units (the “Units” and, with respect to the shares of Class A common stock included in the Units sold, the “Public Shares”), at $10.00 per Unit, generating gross proceeds of $100,000,000, which is described in Note 3.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Simultaneously with the closing of the Initial Public Offering, the Company consummated (i) the sale of 4,050,000 warrants (the “Private Placement Warrants”) at a price of $1.00 per Private Placement Warrant in a private placement to RF Dynamic LLC (the “Sponsor”), generating gross proceeds of $4,050,000, which is described in Note 4, and (ii) the sale of 500,000 Private Placement Warrants at a price of $1.00 per Private Placement Warrant in a private placement to EBC, generating gross proceeds of $500,000.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">On March 30, 2022, the underwriter exercised their over-allotment option, resulting in an additional 1,500,000 Units issued for an aggregate amount of $15,000,000. In connection with the underwriter’s exercise of their over-allotment option, the Company also completed the private sale of an aggregate of (i) 400,500 Private Placement Warrants to the Company’s Sponsor, at a purchase price of $1.00 per Private Placement Warrant, generating gross proceeds of $400,500, and (ii) 49,500 Private Placement Warrants to EBC, at a purchase price of $1.00 per Private Placement Warrant, generating gross proceeds of $49,500.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Following the closing of the Initial Public Offering on March 28, 2022 and the exercise of the over-allotment option on March 30, 2022, an amount of $116,150,000 from the net proceeds of the sale of the Units in the Initial Public Offering and the sale of the Private Placement Warrants was placed in a trust account (the “Trust Account”) located in the United States with Continental Stock Transfer & Trust Company acting as trustee and invested only in U.S. 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 money market funds meeting the certain conditions under Rule 2a-7 of the Investment Company Act, which invest only in direct U.S. government treasury obligations, as determined by the Company, until the earlier of: (i) the completion of a Business Combination and (ii) the distribution of the Trust Account, as described below. In February of 2023 the Company’s trust balance was moved to an interest-bearing bank deposit account.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">On March 24, 2023, a special meeting was held where the Company’s stockholders approved a proposal (the “Extension Amendment” or “Extension Amendment Proposal”) to amend the Company’s amended and restated certificate of incorporation to give the Company the right to extend the date by which it has to consummate a business combination from March 28, 2023 to December 28, 2023, composed of an initial three-month extension and six subsequent one-month extensions, for a total of up to nine months after March 28, 2023, by depositing into the Trust Account (A) for the initial three-month extension, the lesser of (i) $300,000 or (ii) $0.12 for each share of the Company’s Class A Common Stock not redeemed in connection with the Charter Amendment Proposal, and (B) for each of the six subsequent one-month extensions, the lesser of (i) $100,000 or (ii) $0.04 for each share of Class A Common Stock not redeemed in connection with the Extension Amendment Proposal, until December 28, 2023 in exchange for a noninterest bearing, unsecured promissory note payable upon consummation of a business combination. In connection therewith the stockholders of record </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">were provided the opportunity to exercise their redemption rights. Holders of 7,391,973 shares of Class A common stock exercised their right to redemption at a per share redemption price of approximately $10.29. On April 3, 2023, a total of $76,054,240 in redemption payments were made in connection with this redemption. Following the redemption, the Company had a total of 4,108,027 shares of Class A common stock outstanding.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">On June 26, 2023, the Company’s board of directors unanimously consented to the conversion of the Company’s shares of Class B common stock to shares of Class A common stock on a one-for one basis. On June 26, 2023, RF Dynamic LLC, the sole holder of Class B common stock, also consented to the conversion of the Company’s Class B Common Stock to shares of Class A common stock on a one-for-one basis. On July 7, 2023, the Company instructed its transfer agent to initiate the conversion of the shares of Class B common stock to shares of Class A common stock. An aggregate of 2,875,000 shares of Class B common stock with a par value of $0.0001 per share was converted into 2,875,000 shares of Class A common stock with a par value of $0.0001. Following, the Company had a total of 3,075,000 shares of Class A common stock outstanding.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Additionally, on December 20, 2023, the stockholders of record were provided the opportunity to exercise their redemption rights. Holders of 1,363,378 shares of Class A common stock exercised their right to redemption at a per share redemption price of approximately $10.72. On December 26, 2023, a total of $14,619,421 in redemption payments were made in connection with this redemption. Following the redemption, the Company had a total of 2,744,649 shares of Class A common stock outstanding. Furthermore, on December 20, 2023, the stockholders approved a second extension which updated the “Revised Extension Deadline” from December 28, 2023 to September 28, 2024, which is comprised of an initial three month extension and six subsequent one-month extensions, for a total of up to nine months, by depositing into the Trust Account (A) for the initial three (3) month extension, the lesser of (i) $225,000 or (ii) $0.09 for each Class A Common Stock not redeemed in connection with the extension, and (B) for each of the six subsequent one-month extensions, the lesser of (i) $75,000 or (ii) $0.03 for each Class A Common Stock not redeemed in connection with the extension until September 28, 2024 in exchange for a non-interest bearing, unsecured promissory note payable upon consummation of a Business Combination</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">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. 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 (as defined below) (net of amounts disbursed to management for working capital purposes and excluding the amount of certain advisory fees payable to EBC) 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 1940, as amended (the “Investment Company Act”). There is no assurance that the Company will be able to complete a Business Combination successfully.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The Company will provide the holders of the Public Shares (the “Public Stockholders”) with the opportunity to redeem all or a portion of their Public Shares (as defined below) upon the completion of a Business Combination either (i) in connection with a stockholder meeting called to approve the Business Combination or (ii) by means of a tender offer. The decision as to whether the Company will seek stockholder approval of a Business Combination or conduct a tender offer will be made by the Company, solely in its discretion. The Public Stockholders will be entitled to redeem their Public Shares for a pro rata portion of the amount then held in the Trust Account (initially anticipated to be $10.10 per Public Share).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">If the Company seeks stockholder approval, the Company will proceed with a Business Combination if a majority of the shares voted are voted in favor of the Business Combination. If a stockholder vote is not required by law and the Company does not decide to hold a stockholder vote for business or other legal reasons, the Company will, pursuant to its Certificate of Incorporation (the “Certificate of Incorporation”), conduct the redemptions pursuant to the tender offer rules of the SEC and file tender offer documents with the SEC prior to completing a Business Combination. If, however, stockholder approval of the transaction is required by law, or the Company decides to obtain stockholder 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 Stockholder may elect to redeem their Public Shares irrespective of whether they vote for or against the proposed transaction.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">If the Company seeks stockholder approval in connection with a Business Combination, the initial stockholders (as defined below) have agreed to vote their Founder Shares (as defined below in Note 5) and any Public Shares purchased during or after the Initial </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">Public Offering in favor of a Business Combination. In addition, the initial stockholders have agreed to waive their redemption rights with respect to their Founder Shares and Public Shares in connection with the completion of a Business Combination.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The Certificate of Incorporation will provide that a Public Stockholder, together with any affiliate of such stockholder or any other person with whom such stockholder 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.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The holders of the Founder Shares (as defined below) have agreed not to propose an amendment to the Certificate of Incorporation to modify the substance or timing of the Company’s obligation to allow redemption in connection with a Business Combination or to redeem 100% of the Public Shares if the Company does not complete a Business Combination within the Combination Period (as defined below) or with respect to any other material provisions relating to stockholders’ rights or pre-initial Business Combination activity, unless the Company provides the Public Stockholders with the opportunity to redeem their Public Shares in conjunction with any such amendment.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">If the Company is unable to complete a Business Combination within the extended deadline of September 28, 2024 (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 <span style="-sec-ix-hidden:Hidden_1E5rEv35TEKWtf2dVnqe7g;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">ten</span></span> business days thereafter, redeem the Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account and not previously released to the Company to pay its taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding Public Shares, which redemption will completely extinguish Public Stockholders’ rights as stockholders (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 Company’s remaining stockholders and its board of directors, dissolve and liquidate, subject in each case to the Company’s obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The initial stockholders have agreed to waive their rights to liquidating distributions from the Trust Account with respect to the Founder Shares if the Company fails to complete a Business Combination within the Combination Period. However, if the initial stockholders acquire Public Shares in or after the Initial Public Offering, 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. 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 $10.10. 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) $10.10 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 $10.10 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, 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.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Going Concern and Liquidity</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">At December 31, 2023, the Company had $188,235 of cash and negative working capital of $4,869,537, respectively.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The Company’s liquidity needs up to March 28, 2022 had been satisfied through a payment from the Sponsor of $25,000 (see Note 5) for the Founder Shares to cover certain offering costs. In addition, in order to finance transaction costs in connection with a Business Combination, the Company’s Sponsor or an affiliate of the Sponsor or certain of the Company’s officers and directors may, but are not obligated to, provide the Company with Working Capital Loans, as defined below (see Note 5). As of December 31, 2023, there were no amounts outstanding under any Working Capital Loans.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Prior to the completion of the Initial Public Offering, the Company lacked the liquidity it needed to sustain operations for a reasonable period of time, which is considered to be one year from the issuance date of the financial statements. The Company has since competed its Initial Public Offering at which time capital in excess of the funds deposited in the Trust Account and/or used to fund offering expenses was released to the Company for general working capital purposes.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">On March 27, 2023, the Company deposited $300,000 into the trust account in order to effect the first extension of the Revised Extension Deadline, which extended the deadline to consummate the Business Combination by an initial three months. Pursuant to the terms of the Second Amended and Restated Certificate of Incorporation, the Company has from March 28, 2023 to December 28, 2023 to consummate the Business Combination. This extension period is comprised of an initial three month extension and six subsequent one-month extensions, for a total of up to nine months, by depositing into the Trust Account (A) for the initial three (3) month extension, the lesser of (i) $300,000 or (ii) $0.12 for each Class A Common Stock not redeemed in connection with the extension, and (B) for each of the six subsequent one-month extensions, the lesser of (i) $100,000 or (ii) $0.04 for each Class A Common Stock not redeemed in connection with the extension until December 28, 2023 in exchange for a non-interest bearing, unsecured promissory note payable upon consummation of a Business Combination. The Company deposited $600,000 into the Trust Account, June 2023 though December 2023, in order to effect six subsequent one month extensions of the Revised Extension Deadline, which extended the deadline to consummate the Business Combination to December 28, 2023.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">On December 20, 2023, the stockholders approved the “Second Extension Amendment Proposal” in which extended the “Revised Extension Deadline” from December 28, 2023 to September 28, 2024, which is comprised of an initial three month extension and six subsequent one-month extensions, for a total of up to nine months, by depositing into the Trust Account (A) for the initial three (3) month extension, the lesser of (i) $225,000 or (ii) $0.09 for each Class A Common Stock not redeemed in connection with the extension, and (B) for each of the six subsequent one-month extensions, the lesser of (i) $75,000 or (ii) $0.03 for each Class A Common Stock not redeemed in connection with the extension until September 28, 2024 in exchange for a non-interest bearing, unsecured promissory note payable upon consummation of a Business Combination.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Our ability to consummate any business combination is dependent on a variety of factors, many of which are beyond our control. If the Company does not consummate a business combination by September 28, 2024, the Company may seek additional stockholder approval to further extend the deadline to consummate a business combination.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">In connection with the Company’s assessment of going concern considerations in accordance with the authoritative guidance in Financial Accounting Standard Board (“FASB”) Accounting Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern.”, the Company has until September 28, 2024 to consummate a Business Combination. It is uncertain that the Company will be able to consummate a Business Combination by the specified period. If a Business Combination is not consummated by September 28, 2024, there will be a mandatory liquidation and subsequent dissolution.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The Company’s evaluation of its working capital, along with the liquidity condition and date for mandatory liquidation and subsequent dissolution raise substantial doubt about the Company’s ability to continue as a going concern one year from the date that these financial statements are issued. These financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should the Company be unable to continue as a going concern.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Risks and Uncertainties</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">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 new 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 stockholders 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 U.S. Department of the Treasury (the “Treasury”) has been given authority to provide regulations and other guidance to carry out and prevent the abuse or avoidance of the excise tax. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">On March 24, 2023, a special meeting was held where the Company approved the Extension Amendment, extending the date by which the Company must consummate a business combination. In connection the stockholders of record were provided the </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">opportunity to exercise their redemption rights. Holders of 7,391,973 shares of Class A common stock exercised their right to redemption at a per share redemption price of approximately $10.29. On April 3, 2023, a total of $76,054,240 in redemption payments were made in connection with this redemption. Following the redemption, the Company recorded $760,542 of excise tax payable related to the redemption. Additionally, on December 20, 2023, the stockholders of record were provided the opportunity to exercise their redemption rights. Holders of 1,363,378 shares of Class A common stock exercised their right to redemption at a per share redemption price of approximately $10.72. On December 26, 2023, a total of $14,619,421 in redemption payments were made in connection with this redemption. Following the redemption, the Company recorded $146,194 of excise tax payable related to the redemption. Furthermore, following the redemption, the Company had a total of 2,744,649 shares of Class A common stock outstanding.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Any redemption or other 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 in connection with a Business Combination, extension vote or otherwise would depend on a number of factors, including (i) the fair market value of the redemptions and repurchases in connection with the Business Combination, extension or otherwise, (ii) the structure of a Business Combination, (iii) the nature and amount of any “PIPE” 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 Business Combination) and (iv) the content of regulations and other guidance from the Treasury. In addition, because the excise tax would be payable by the Company and not by the redeeming holder, the mechanics of any required payment of the excise tax have not been determined. The foregoing could cause a reduction in the cash available on hand to complete a Business Combination and in the Company’s ability to complete a Business Combination.</p>
CY2023	rfacu	Condition For Future Business Combination Number Of Businesses Minimum ConditionForFutureBusinessCombinationNumberOfBusinessesMinimum	1
CY2023	rfacu	Investments Maximum Maturity Term InvestmentsMaximumMaturityTerm	P185D
CY2023Q1	rfacu	Initial Extension Period To Consummate Business Combination InitialExtensionPeriodToConsummateBusinessCombination	P3M
CY2023Q1	rfacu	Number Of Subsequent Extensions To Consummate Business Combination NumberOfSubsequentExtensionsToConsummateBusinessCombination	6
CY2023Q1	rfacu	Period For Each Subsequent Extension To Consummate Business Combination PeriodForEachSubsequentExtensionToConsummateBusinessCombination	P1M
CY2023Q1	rfacu	Total Extension Period To Consummate Business Combination TotalExtensionPeriodToConsummateBusinessCombination	P9M
CY2023Q4	rfacu	Initial Extension Period To Consummate Business Combination InitialExtensionPeriodToConsummateBusinessCombination	P3M
CY2023Q4	rfacu	Number Of Subsequent Extensions To Consummate Business Combination NumberOfSubsequentExtensionsToConsummateBusinessCombination	6
CY2023Q4	rfacu	Period For Each Subsequent Extension To Consummate Business Combination PeriodForEachSubsequentExtensionToConsummateBusinessCombination	P1M
CY2023Q4	rfacu	Total Extension Period To Consummate Business Combination TotalExtensionPeriodToConsummateBusinessCombination	P9M
CY2022Q1	rfacu	Initial Public Offering Proceeds Business Combination Acquiree Threshold To Trust Account InitialPublicOfferingProceedsBusinessCombinationAcquireeThresholdToTrustAccount	0.80
CY2022Q1	rfacu	Initial Public Offering Proceeds Business Combination Ownership InitialPublicOfferingProceedsBusinessCombinationOwnership	0.50
CY2022Q1	rfacu	Maximum Net Interest To Pay Dissolution Expenses MaximumNetInterestToPayDissolutionExpenses	100000
CY2022Q1	us-gaap	Share Price SharePrice	10.10
CY2023Q4	us-gaap	Cash Cash	188235
CY2023	rfacu	Working Capital WorkingCapital	4869537
CY2023Q1	us-gaap	Assets Held In Trust Noncurrent AssetsHeldInTrustNoncurrent	300000
CY2023Q4	rfacu	Deposit In Trust Account For Extension Of Business Combination DepositInTrustAccountForExtensionOfBusinessCombination	600000
CY2023	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Concentration of Credit Risk</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution, which, at times, may exceed the Federal Depository Insurance Coverage limit of $250,000. In addition, inflation has been increasing in recent periods and is expected to continue to be volatile in the future. Our investment portfolio may experience the risk of realized losses on our short-term investments if we were to sell before maturity due to the market volatility caused by increased interest </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">rates. At December 31, 2023, the Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts.</p>
CY2023Q4	us-gaap	Cash Fdic Insured Amount CashFDICInsuredAmount	250000
CY2023Q4	us-gaap	Cash Equivalents At Carrying Value CashEquivalentsAtCarryingValue	188235
CY2022Q4	us-gaap	Cash Equivalents At Carrying Value CashEquivalentsAtCarryingValue	19759
CY2023	rfacu	Investments Maximum Maturity Term InvestmentsMaximumMaturityTerm	P185D
CY2023Q4	us-gaap	Assets Held In Trust AssetsHeldInTrust	29718024
CY2022Q4	us-gaap	Assets Held In Trust AssetsHeldInTrust	117724476
CY2023	us-gaap	Use Of Estimates UseOfEstimates	<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The preparation of financial statements in conformity with GAAP requires 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 financial statements and the reported amounts of revenues and expenses during the reporting period.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">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 financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.</p>
CY2023Q4	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	0
CY2023Q4	us-gaap	Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued	0
CY2023Q4	us-gaap	Notes Payable Current NotesPayableCurrent	1202992
CY2022Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	1000000
CY2023Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	1000000
CY2022Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2023Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2022Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0
CY2023Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0
CY2023Q4	rfacu	Initialbusinesscombinationsharesissuableaspercentofoutstandingshare Initialbusinesscombinationsharesissuableaspercentofoutstandingshare	0.20
CY2022Q4	rfacu	Fairvalueassetslevel1tolevel2transfersamount1 Fairvalueassetslevel1tolevel2transfersamount1	0
CY2023Q4	rfacu	Fairvalueassetslevel1tolevel2transfersamount1 Fairvalueassetslevel1tolevel2transfersamount1	0
CY2023Q4	rfacu	Deferred Tax Assets Start Up Costs DeferredTaxAssetsStartUpCosts	420391
CY2022Q4	rfacu	Deferred Tax Assets Start Up Costs DeferredTaxAssetsStartUpCosts	180281
CY2023Q4	us-gaap	Deferred Tax Assets Gross DeferredTaxAssetsGross	420391
CY2022Q4	us-gaap	Deferred Tax Assets Gross DeferredTaxAssetsGross	180281
CY2023Q4	us-gaap	Deferred Tax Assets Valuation Allowance DeferredTaxAssetsValuationAllowance	420391
CY2022Q4	us-gaap	Deferred Tax Assets Valuation Allowance DeferredTaxAssetsValuationAllowance	180281
CY2023	us-gaap	Current Federal Tax Expense Benefit CurrentFederalTaxExpenseBenefit	550465
CY2022	us-gaap	Current Federal Tax Expense Benefit CurrentFederalTaxExpenseBenefit	303890
CY2023	us-gaap	Deferred Federal Income Tax Expense Benefit DeferredFederalIncomeTaxExpenseBenefit	240110
CY2022	us-gaap	Deferred Federal Income Tax Expense Benefit DeferredFederalIncomeTaxExpenseBenefit	180281
CY2023	us-gaap	Valuation Allowance Deferred Tax Asset Change In Amount ValuationAllowanceDeferredTaxAssetChangeInAmount	240110
CY2022	us-gaap	Valuation Allowance Deferred Tax Asset Change In Amount ValuationAllowanceDeferredTaxAssetChangeInAmount	180281
CY2023	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	550465
CY2022	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	303890
CY2023Q4	us-gaap	Operating Loss Carryforwards OperatingLossCarryforwards	0
CY2023	us-gaap	Valuation Allowance Deferred Tax Asset Change In Amount ValuationAllowanceDeferredTaxAssetChangeInAmount	240110
CY2022	us-gaap	Valuation Allowance Deferred Tax Asset Change In Amount ValuationAllowanceDeferredTaxAssetChangeInAmount	180281
CY2023	us-gaap	Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	0.210
CY2022	us-gaap	Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	0.210
CY2023	us-gaap	Effective Income Tax Rate Reconciliation Nondeductible Expense EffectiveIncomeTaxRateReconciliationNondeductibleExpense	-20.749
CY2023	rfacu	Effective Income Tax Rate Reconciliation Penalties EffectiveIncomeTaxRateReconciliationPenalties	-0.215
CY2023	us-gaap	Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance	-16.057
CY2022	us-gaap	Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance	0.306
CY2023	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	-36.811
CY2022	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.516

Files In Submission

Name	View Source	Status
0001104659-24-051951-index-headers.html	Edgar Link	pending
0001104659-24-051951-index.html	Edgar Link	pending
0001104659-24-051951.txt	Edgar Link	pending
0001104659-24-051951-xbrl.zip	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
MetaLinks.json	Edgar Link	pending
R1.htm	Edgar Link	pending
R10.htm	Edgar Link	pending
R11.htm	Edgar Link	pending
R12.htm	Edgar Link	pending
R13.htm	Edgar Link	pending
R14.htm	Edgar Link	pending
R15.htm	Edgar Link	pending
R16.htm	Edgar Link	pending
R17.htm	Edgar Link	pending
R18.htm	Edgar Link	pending
R19.htm	Edgar Link	pending
R2.htm	Edgar Link	pending
R20.htm	Edgar Link	pending
R21.htm	Edgar Link	pending
R22.htm	Edgar Link	pending
R23.htm	Edgar Link	pending
R24.htm	Edgar Link	pending
R25.htm	Edgar Link	pending
R26.htm	Edgar Link	pending
R27.htm	Edgar Link	pending
R28.htm	Edgar Link	pending
R29.htm	Edgar Link	pending
R3.htm	Edgar Link	pending
R30.htm	Edgar Link	pending
R31.htm	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable
R32.htm	Edgar Link	pending
R33.htm	Edgar Link	pending
R34.htm	Edgar Link	pending
R35.htm	Edgar Link	pending
R36.htm	Edgar Link	pending
R37.htm	Edgar Link	pending
R38.htm	Edgar Link	pending
R39.htm	Edgar Link	pending
R4.htm	Edgar Link	pending
R40.htm	Edgar Link	pending
R41.htm	Edgar Link	pending
R42.htm	Edgar Link	pending
R43.htm	Edgar Link	pending
R44.htm	Edgar Link	pending
R5.htm	Edgar Link	pending
R6.htm	Edgar Link	pending
R7.htm	Edgar Link	pending
R8.htm	Edgar Link	pending
R9.htm	Edgar Link	pending
report.css	Edgar Link	pending
rfacu-20231231.xsd	Edgar Link	pending
rfacu-20231231x10k.htm	Edgar Link	pending
rfacu-20231231xex31d1.htm	Edgar Link	pending
rfacu-20231231xex31d2.htm	Edgar Link	pending
rfacu-20231231xex32d1.htm	Edgar Link	pending
rfacu-20231231xex32d2.htm	Edgar Link	pending
rfacu-20231231xex4d6.htm	Edgar Link	pending
rfacu-20231231xex97d1.htm	Edgar Link	pending
Show.js	Edgar Link	pending
rfacu-20231231_def.xml	Edgar Link	unprocessable
rfacu-20231231_lab.xml	Edgar Link	unprocessable
rfacu-20231231_pre.xml	Edgar Link	unprocessable
rfacu-20231231x10k_htm.xml	Edgar Link	completed
rfacu-20231231_cal.xml	Edgar Link	unprocessable

Create your account

Find Stocks Worth Researching

Deeply Understand Businesses

Value Businesses Intelligently

$RFAC
RF Acquisition Corp. Stock $rfac

2023 Q4 Form 10-K Financial Statement

#000110465924051951 Filed on April 25, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$RFAC RF Acquisition Corp. Stock $rfac

2023 Q4 Form 10-K Financial Statement

#000110465924051951 Filed on April 25, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$RFAC
RF Acquisition Corp. Stock $rfac