$VSEE
VSEE HEALTH, INC.

2022 Q2 Form 10-Q Financial Statement

#000110465922060873 Filed on May 16, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1 2021 Q4
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $722.2K $543.2K $282.7K
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $722.2K $543.2K $277.5K
YoY Change
Operating Profit -$722.2K -$543.2K
YoY Change 14343.24%
Interest Expense $62.70K $15.82K $1.970K
YoY Change
% of Operating Profit
Other Income/Expense, Net $62.70K $15.82K
YoY Change -1354.06%
Pretax Income -$659.5K -$527.4K -$275.5K
YoY Change
Income Tax $0.00
% Of Pretax Income
Net Earnings -$659.5K -$527.4K -$275.5K
YoY Change 13089.18%
Net Earnings / Revenue
Basic Earnings Per Share -$0.04 -$0.04
Diluted Earnings Per Share -$44.16K -$0.04 -$18.45K
COMMON SHARES
Basic Shares Outstanding 14.93M 14.93M
Diluted Shares Outstanding 14.93M 14.93M

Balance Sheet

Concept 2022 Q2 2022 Q1 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $191.1K $509.7K $760.0K
YoY Change
Cash & Equivalents $191.1K $509.7K $760.0K
Short-Term Investments
Other Short-Term Assets $213.1K $367.0K $457.6K
YoY Change
Inventory
Prepaid Expenses $367.0K $457.6K
Receivables
Other Receivables
Total Short-Term Assets $404.2K $876.7K $1.218M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $116.8M $116.7M $116.7M
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $116.8M $116.7M $116.7M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $404.2K $876.7K $1.218M
Total Long-Term Assets $116.8M $116.7M $116.7M
Total Assets $117.2M $117.6M $117.9M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $592.1K $342.5K $140.2K
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $43.90K $43.90K $43.90K
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $636.0K $386.4K $184.1K
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $4.370M $4.370M $4.370M
YoY Change
Total Long-Term Liabilities $4.370M $4.370M $4.370M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $636.0K $386.4K $184.1K
Total Long-Term Liabilities $4.370M $4.370M $4.370M
Total Liabilities $5.006M $4.756M $4.554M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$4.522M -$3.862M -$3.335M
YoY Change
Common Stock $344.00 $344.00 $344.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$4.521M -$3.862M -$3.334M
YoY Change
Total Liabilities & Shareholders Equity $117.2M $117.6M $117.9M
YoY Change

Cashflow Statement

Concept 2022 Q2 2022 Q1 2021 Q4
OPERATING ACTIVITIES
Net Income -$659.5K -$527.4K -$275.5K
YoY Change 13089.18%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$318.6K -$250.3K -$599.9K
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$116.7M
YoY Change
Cash From Investing Activities -$116.7M
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 118.1M
YoY Change
NET CHANGE
Cash From Operating Activities -318.6K -250.3K -599.9K
Cash From Investing Activities -116.7M
Cash From Financing Activities 0.000 118.1M
Net Change In Cash -318.6K -250.3K 754.5K
YoY Change
FREE CASH FLOW
Cash From Operating Activities -$318.6K -$250.3K -$599.9K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2022Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
3432000
CY2022Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2021Q4 us-gaap Commitments And Contingencies
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CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14932000
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.04
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14932000
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.04
CY2022Q1 dhacu Redemption Of Shares Calculated Based On Number Of Business Days Prior To Consummation Of Business Combination
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P2D
CY2022Q1 dhacu Redemption Period Upon Closure
RedemptionPeriodUponClosure
P10D
CY2022Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
3432000
CY2022Q1 dhacu Monthstocompleteacquisition
Monthstocompleteacquisition
12
CY2022Q1 dhacu Redemption Period Upon Closure
RedemptionPeriodUponClosure
P10D
CY2022Q1 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P5Y
CY2022Q1 dei Entity File Number
EntityFileNumber
001-41015
CY2022Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001864531
CY2022Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2022Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2022
CY2022Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2022Q1 dei Amendment Flag
AmendmentFlag
false
CY2022Q1 dhacu Transition Report
TransitionReport
true
CY2022Q1 dei Document Type
DocumentType
10-Q
CY2022Q1 dei Document Quarterly Report
DocumentQuarterlyReport
true
CY2022Q1 dei Document Period End Date
DocumentPeriodEndDate
2022-03-31
CY2022Q1 dei Document Transition Report
DocumentTransitionReport
false
CY2022Q1 dei Entity Registrant Name
EntityRegistrantName
DIGITAL HEALTH ACQUISITION CORP.
CY2022Q1 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
CY2022Q1 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
86-2970927
CY2022Q1 dei Entity Address Address Line1
EntityAddressAddressLine1
980 N Federal Hwy #304
CY2022Q1 dei Entity Address City Or Town
EntityAddressCityOrTown
Boca Raton
CY2022Q1 dei Entity Address State Or Province
EntityAddressStateOrProvince
FL
CY2022Q1 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
33432
CY2022Q1 dei City Area Code
CityAreaCode
561
CY2022Q1 dei Local Phone Number
LocalPhoneNumber
672-7068
CY2022Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2022Q1 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2022Q1 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2022Q1 dei Entity Small Business
EntitySmallBusiness
true
CY2022Q1 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
CY2022Q1 dei Entity Ex Transition Period
EntityExTransitionPeriod
false
CY2022Q1 dei Entity Shell Company
EntityShellCompany
true
CY2022Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
14932000
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
509722
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
760012
CY2022Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
367014
CY2021Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
457605
CY2022Q1 us-gaap Assets Current
AssetsCurrent
876736
CY2022Q1 dhacu Number Of Warrants Exercisable For Cash
NumberOfWarrantsExercisableForCash
0
CY2021Q4 us-gaap Assets Current
AssetsCurrent
1217617
CY2022Q1 us-gaap Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
116742797
CY2021Q4 us-gaap Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
116726978
CY2022Q1 us-gaap Assets
Assets
117619533
CY2021Q4 us-gaap Assets
Assets
117944595
CY2022Q1 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
342461
CY2021Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
140163
CY2022Q1 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
43900
CY2021Q4 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
43900
CY2022Q1 us-gaap Liabilities Current
LiabilitiesCurrent
386361
CY2021Q4 us-gaap Liabilities Current
LiabilitiesCurrent
184063
CY2022Q1 dhacu Deferred Offering Costs Noncurrent
DeferredOfferingCostsNoncurrent
4370000
CY2021Q4 dhacu Deferred Offering Costs Noncurrent
DeferredOfferingCostsNoncurrent
4370000
CY2022Q1 us-gaap Liabilities
Liabilities
4756361
CY2021Q4 us-gaap Liabilities
Liabilities
4554063
CY2022Q1 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
116725000
CY2021Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
116725000
CY2022Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000
CY2022Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
3432000
CY2022Q1 us-gaap Common Stock Value
CommonStockValue
344
CY2021Q4 us-gaap Common Stock Value
CommonStockValue
344
CY2022Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-3862172
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2022Q1 us-gaap Stockholders Equity
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CY2022Q1 us-gaap Liabilities And Stockholders Equity
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117619533
CY2021Q4 us-gaap Liabilities And Stockholders Equity
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CY2022Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
543179
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-543179
CY2022Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
15819
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-527360
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14932000
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.04
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
-3334468
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-527360
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
-3861828
CY2022Q1 us-gaap Profit Loss
ProfitLoss
-527360
CY2022Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
15819
CY2022Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-90591
CY2022Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
202298
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-250290
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-250290
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
760012
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
509722
CY2022Q1 us-gaap Nature Of Operations
NatureOfOperations
<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</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">Digital Health Acquisition Corp. (the “Company”) is a newly incorporated blank check company incorporated as a Delaware corporation on March 30, 2021. The Company was incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar Business Combination with one or more businesses (the “Business Combination”). The Company has not executed a business combination or a merger agreement with any specific Business Combination target(s).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">As of March 31, 2022, the Company had not commenced any significant operations. All activity for the period from April 1, 2021, date which operations commenced, through March 31, 2022 relates to the Company’s formation and the Company’s Initial Public Offering (as defined below), and identifying a target company for a Business Combination. The Company will not generate any operating revenues until after the completion of its initial Business Combination, at the earliest. The Company generates non-operating income in the form of interest income from the proceeds derived from the Initial Public Offering (as defined below). 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:18pt;margin:0pt 0pt 12pt 0pt;">The registration statement for the Company’s Initial Public Offering was declared effective on November 3, 2021. On November 8, 2021, the Company consummated the Initial Public Offering of 11,500,000 units (the “Units” and, with respect to the shares of common stock included in the Units sold, the “Public Shares”), which includes the full exercise by the underwriter of its over-allotment option in the amount of 1,500,000 Units, at $10.00 per Unit, generating gross proceeds of $115,000,000, which is described in Note 3.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">Simultaneously with the closing of the Initial Public Offering, the Company consummated the sale of 557,000 units (each, a “Private Placement Unit” and, collectively, the “Private Placement Units”) at a price of $10.00 per Private Placement Unit in a private placement to Digital Health Sponsor LLC (the “Sponsor”), generating gross proceeds of $5,570,000, which is described in Note 4. As of November 8, 2021, the Company received $3,680,000 from the proceeds of the Private Placement and recorded $1,890,000 in subscription receivable. The Sponsor paid the subscription in full on November 12, 2021.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">Transaction costs amounted to $6,877,164, consisting of $1,955,000 of underwriting fees, $4,370,000 of deferred underwriting fees and $552,164 of other offering costs. In addition, cash of $9,478 was held outside of the Trust Account (as defined below) and is available for the payment of offering costs and for working capital purposes.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">Following the closing of the Initial Public Offering on November 8, 2021, an amount of $116,725,000 ($10.15 per Unit) from the net proceeds of the sale of the Units in the Initial Public Offering and the sale of the Private Placement Units was placed in a trust account (the “Trust Account”), invested in U.S. government securities, within the meaning set forth in Section 2(a)(16) of 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 the conditions of Rule 2a-7 of the Investment Company Act of 1940, as amended (the “Investment Company Act”). The Trust Account is intended as a holding place for funds pending the earliest to occur of either (i) the completion of the initial Business Combination; (ii) the redemption of any public shares properly submitted in connection with a stockholder vote to amend the Company’s amended and restated certificate of incorporation (A) to modify the substance or timing of the Company’s obligation to allow redemption in connection with the initial Business Combination or to redeem 100% of the Company’s public shares if the Company does not complete the initial Business Combination within 12 months from the closing of the Initial Public Offering or (B) with respect to any other material provisions relating to stockholders’ rights or pre-initial Business Combination activity; or (iii) absent an initial Business Combination within 12 months from the closing of the Initial Public Offering, the Company’s return of the funds held in the Trust Account to the Company’s public stockholders as part of the Company’s redemption of the public shares.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The Company’s Business Combination must be with one or more target businesses that together have a fair market value equal to at least 80% of the net balance in the Trust Account (as defined below) (excluding the amount of deferred underwriting discounts held and taxes payable on the income earned on the Trust Account) at the time of the signing an agreement to enter into a Business Combination. However, the Company will only complete a Business Combination if the post-Business Combination company owns or acquires 50% or more of the outstanding 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. There is no assurance that the Company will be able to successfully effect a Business Combination.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The Company will provide the Company’s public stockholders with the opportunity to redeem all or a portion of their common shares in connection with the initial Business Combination either (i) in connection with a general meeting called to approve the Business Combination or (ii) without a stockholder vote by means of a tender offer. The decision as to whether the Company will seek stockholder approval of a proposed Business Combination or conduct a tender offer will be made by the Company, solely in the its discretion, and will be based on a variety of factors such as the timing of the transaction and whether the terms of the transaction would require the Company to seek stockholder approval under applicable law or stock exchange listing requirement. The public stockholders will be entitled to redeem their shares at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account calculated as of <span style="-sec-ix-hidden:Hidden_PUYQjG725EGhAQvObCd9dg;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">two</span></span> business days prior to the consummation of the initial Business Combination, including interest earned on the funds held in the Trust Account and not previously released to the Company to pay its taxes, divided by the number of then outstanding public shares, subject to the limitations. The amount in the Trust Account is initially anticipated to be $10.15 per public share.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The shares of common stock subject to redemption are recorded at a redemption value and classified as temporary equity, in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 480, “Distinguishing Liabilities from Equity.” In such case, the Company will proceed with a Business Combination if the Company has net tangible assets of at least $5,000,001 upon such consummation of a Business Combination and, if the Company seeks stockholder approval, a majority of the issued and outstanding shares voted are voted in favor of the Business Combination.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The Company will have 12 months from the closing of the Initial Public Offering to complete an initial Business Combination (the “Combination Period”). However, if the Company is unable to complete its initial Business Combination within 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_XqOwDvC9zUW_fEI6eCvIDQ;"><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 (less taxes payable and 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 liquidation distributions, if any) and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company’s remaining stockholders and the Company’s board of directors, liquidate and dissolve, subject, in each case, to the Company’s obligations under Delaware law to provide for claims of creditors and in all cases subject to the other requirements of applicable law.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The Sponsor, along with advisors, officers and directors have entered into a letter agreement with the Company, pursuant to which they have agreed to (i) waive their redemption rights with respect to their founder shares (as defined in Note 5) and public shares in connection with the completion of the initial Business Combination; (ii) waive their redemption rights with respect to their founder shares and public shares in connection with a stockholder vote to approve an amendment to the Company’s amended and restated certificate of incorporation (A) to modify the substance or timing of the Company’s obligation to allow redemption in connection with the initial Business Combination or to redeem 100% of the Company’s public shares if the Company have not consummated an initial Business Combination within 12 months from the closing of the Initial Public Offering or (B) with respect to any other material provisions relating to stockholders’ rights or pre-initial Business Combination activity; (iii) waive their rights to liquidating distributions from the Trust Account with respect to their founder shares if the Company fail to complete the initial Business Combination within 12 months from the closing of the Initial Public Offering, although they will be entitled to liquidating distributions from the Trust Account with respect to any public shares they hold if the Company fail to complete the initial Business Combination within the prescribed time frame; and (iv) vote any founder shares held by them and any public shares purchased during or after the Initial Public Offering (including in open market and privately-negotiated transactions) in favor of the initial Business Combination.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt;">The Company’s Sponsor has agreed that it will be liable to the Company if and to the extent any claims by a third party (other than 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 have entered into a written letter of intent, confidentiality or other similar agreement or Business Combination agreement, 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 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 prospective target business who 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 underwriters of the Initial Public Offering against certain liabilities, including liabilities under the Securities Act of 1933, as amended (the “Securities Act”). However, the Company has not asked the Sponsor to reserve for such indemnification obligations, nor have the Company independently verified </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">whether the Sponsor has sufficient funds to satisfy its indemnity obligations and the Company believe that the Company’s Sponsor’s only assets are securities of the Company. Therefore, the Company cannot assure that the Sponsor would be able to satisfy those obligations.</p>
CY2022Q1 dhacu Condition For Future Business Combination Number Of Businesses Minimum
ConditionForFutureBusinessCombinationNumberOfBusinessesMinimum
1
CY2022Q1 dhacu Transaction Costs
TransactionCosts
6877164
CY2022Q1 dhacu Sale Of Stock Underwriting Fees
SaleOfStockUnderwritingFees
1955000
CY2022Q1 dhacu Deferred Offering Costs Noncurrent
DeferredOfferingCostsNoncurrent
4370000
CY2022Q1 dhacu Sale Of Stock Other Offering Costs
SaleOfStockOtherOfferingCosts
552164
CY2022Q1 dhacu Cash Held Outside Trust Account
CashHeldOutsideTrustAccount
9478
CY2022Q1 dhacu Condition For Future Business Combination Number Of Businesses Minimum
ConditionForFutureBusinessCombinationNumberOfBusinessesMinimum
1
CY2022Q1 dhacu Threshold Minimum Aggregate Fair Market Value As Percentage Of Asset Held In Trust Account
ThresholdMinimumAggregateFairMarketValueAsPercentageOfAssetHeldInTrustAccount
80
CY2022Q1 dhacu Condition For Future Business Combination Threshold Percentage Ownership
ConditionForFutureBusinessCombinationThresholdPercentageOwnership
50
CY2022Q1 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
10.15
CY2022Q1 dhacu Condition For Future Business Combination Threshold Net Tangible Assets
ConditionForFutureBusinessCombinationThresholdNetTangibleAssets
5000001
CY2022Q1 dhacu Monthstocompleteacquisition
Monthstocompleteacquisition
12
CY2022Q1 dhacu Maximum Allowed Dissolution Expenses
MaximumAllowedDissolutionExpenses
100000
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
509722
CY2022Q1 dhacu Working Capital
WorkingCapital
508164
CY2022Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;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:18pt;margin:0pt 0pt 12pt 0pt;">The preparation of the condensed financial statements in conformity with U.S. 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 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:18pt;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>
CY2022Q1 dhacu Temporary Equity Portion Of Balance Attributable To Proceeds From Issuance Initial Public Offering
TemporaryEquityPortionOfBalanceAttributableToProceedsFromIssuanceInitialPublicOffering
115000000
CY2022Q1 dhacu Temporary Equity Proceeds Allocated To Warrants
TemporaryEquityProceedsAllocatedToWarrants
12483555
CY2022Q1 dhacu Temporary Equity Offering Costs Allocated To Ordinary Shares Subject To Possible Redemption
TemporaryEquityOfferingCostsAllocatedToOrdinarySharesSubjectToPossibleRedemption
6923767
CY2022Q1 dhacu Temporary Equity Accretion To Redemption Value Aggregate
TemporaryEquityAccretionToRedemptionValueAggregate
21132322
CY2022Q1 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
116725000
CY2022Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2022Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2022Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
12057000
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.04
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-527360
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14932000
CY2022Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;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:18pt;margin:0pt 0pt 12pt 0pt;">Financial instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed the Federal Deposit Insurance Corporation Coverage limit of $250,000. The Company has not experienced losses on this account, and management believes the Company is not exposed to significant risks on such account.</p>
CY2022Q1 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000
CY2021Q4 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
402936
CY2022Q1 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
43900
CY2021Q4 dhacu Maximum Number Of Demands For Registration Of Securities
MaximumNumberOfDemandsForRegistrationOfSecurities
2
CY2022Q1 dhacu Deferred Underwriting Commission Percent
DeferredUnderwritingCommissionPercent
3.8
CY2022Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000
CY2022Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
3432000
CY2022Q1 dhacu Common Stock Number Of Votes Per Share
CommonStockNumberOfVotesPerShare
1
CY2022Q1 dhacu Condition For Future Business Combination Threshold Net Tangible Assets
ConditionForFutureBusinessCombinationThresholdNetTangibleAssets
5000001
CY2022Q1 dhacu Percentage Obligation To Redeem Public Shares If Entity Does Not Complete Business Combination
PercentageObligationToRedeemPublicSharesIfEntityDoesNotCompleteBusinessCombination
1
CY2022Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
12057000
CY2022Q1 us-gaap Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight
1
CY2022Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
11.50
CY2022Q1 dhacu Warrant Exercise Period Condition One
WarrantExercisePeriodConditionOne
P30D
CY2022Q1 dhacu Warrant Exercise Period Condition Two
WarrantExercisePeriodConditionTwo
P12M
CY2022Q1 dhacu Warrants Trading Days On Which Fair Market Value Of Shares Is Reported
WarrantsTradingDaysOnWhichFairMarketValueOfSharesIsReported
5
CY2022Q1 dhacu Class Of Warrant Or Right Redemption Price Of Warrants Or Rights
ClassOfWarrantOrRightRedemptionPriceOfWarrantsOrRights
0.01
CY2022Q1 dhacu Redemption Period
RedemptionPeriod
P30D
CY2022Q1 dhacu Warrant Redemption Condition Minimum Share Price
WarrantRedemptionConditionMinimumSharePrice
18.00
CY2022Q1 dhacu Class Of Warrant Or Right Redemption Of Warrants Or Rights Threshold Trading Days
ClassOfWarrantOrRightRedemptionOfWarrantsOrRightsThresholdTradingDays
P20D
CY2022Q1 dhacu Class Of Warrant Or Right Redemption Of Warrants Or Rights Threshold Consecutive Trading Days
ClassOfWarrantOrRightRedemptionOfWarrantsOrRightsThresholdConsecutiveTradingDays
30
CY2022Q1 dhacu Warrants Trading Days On Which Fair Market Value Of Shares Is Reported
WarrantsTradingDaysOnWhichFairMarketValueOfSharesIsReported
5
CY2022Q1 dhacu Share Price Trigger Used To Measure Dilution Of Warrants
SharePriceTriggerUsedToMeasureDilutionOfWarrants
9.20
CY2022Q1 dhacu Percentage Of Gross New Proceeds To Total Equity Proceeds Used To Measure Dilution Of Warrant
PercentageOfGrossNewProceedsToTotalEquityProceedsUsedToMeasureDilutionOfWarrant
60
CY2022Q1 dhacu Share Price Trigger Used To Measure Dilution Of Warrants
SharePriceTriggerUsedToMeasureDilutionOfWarrants
9.20
CY2022Q1 dhacu Warrant Exercise Price Adjustment Multiple
WarrantExercisePriceAdjustmentMultiple
115
CY2022Q1 dhacu Warrant Redemption Condition Minimum Share Price
WarrantRedemptionConditionMinimumSharePrice
18.00
CY2022Q1 dhacu Warrant Redemption Price Adjustment Multiple
WarrantRedemptionPriceAdjustmentMultiple
180
CY2022Q1 dhacu Common Stock Number Of Votes Per Share
CommonStockNumberOfVotesPerShare
1
CY2022Q1 dhacu Warrant Exercise Restriction Threshold Percent Of Common Stock Owned
WarrantExerciseRestrictionThresholdPercentOfCommonStockOwned
9.8
CY2022Q1 dhacu Exercise Of Warrants Fractional Shares Issued
ExerciseOfWarrantsFractionalSharesIssued
0
CY2022Q1 us-gaap Cash
Cash
121
CY2021Q4 us-gaap Cash
Cash
959

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