2024 Q2 Form 10-K Financial Statement
#000110465924046607 Filed on April 12, 2024
Income Statement
Concept | 2024 Q2 | 2023 Q4 | 2023 |
---|---|---|---|
Revenue | $1.712M | $0.00 | $0.00 |
YoY Change | |||
Cost Of Revenue | $486.6K | ||
YoY Change | 2.6% | ||
Gross Profit | $1.225M | ||
YoY Change | 50.13% | ||
Gross Profit Margin | 71.57% | ||
Selling, General & Admin | $925.7K | $2.594M | |
YoY Change | -22.88% | -27.85% | |
% of Gross Profit | |||
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $1.473K | ||
YoY Change | 838.22% | ||
% of Gross Profit | 0.12% | ||
Operating Expenses | $2.408M | $925.7K | $2.594M |
YoY Change | 444.33% | -22.88% | -27.85% |
Operating Profit | -$1.183M | -$2.594M | |
YoY Change | 167.46% | -27.85% | |
Interest Expense | -$1.642M | -$1.527M | |
YoY Change | -2461.59% | -382.93% | |
% of Operating Profit | |||
Other Income/Expense, Net | -$1.420M | -$293.2K | -$293.2K |
YoY Change | -301.11% | -154.32% | |
Pretax Income | -$2.603M | -$2.861M | -$4.414M |
YoY Change | -1087.73% | 153.03% | 44.47% |
Income Tax | -$2.241M | $0.00 | $0.00 |
% Of Pretax Income | |||
Net Earnings | -$330.0K | -$2.861M | -$4.414M |
YoY Change | -225.21% | 131.68% | 36.13% |
Net Earnings / Revenue | -19.28% | ||
Basic Earnings Per Share | -$0.06 | -$1.08 | |
Diluted Earnings Per Share | -$0.06 | -$0.74 | -$1.08 |
COMMON SHARES | |||
Basic Shares Outstanding | 3.604M | 3.584M | 4.096M |
Diluted Shares Outstanding | 5.302M | 4.096M |
Balance Sheet
Concept | 2024 Q2 | 2023 Q4 | 2023 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $1.860K | $1.860K | |
YoY Change | -98.26% | -98.26% | |
Cash & Equivalents | $1.106M | $1.863K | |
Short-Term Investments | |||
Other Short-Term Assets | |||
YoY Change | |||
Inventory | |||
Prepaid Expenses | |||
Receivables | $2.514M | $628.5K | |
Other Receivables | $785.9K | ||
Total Short-Term Assets | $5.167M | $1.860K | $1.860K |
YoY Change | 7744.63% | -98.26% | -98.26% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $883.3K | $3.657K | |
YoY Change | |||
Goodwill | $59.90M | ||
YoY Change | |||
Intangibles | $12.10M | ||
YoY Change | |||
Long-Term Investments | $1.369M | $1.369M | |
YoY Change | -81.82% | -81.82% | |
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $73.82M | $1.369M | $1.369M |
YoY Change | 821.01% | -81.82% | -81.82% |
TOTAL ASSETS | |||
Total Short-Term Assets | $5.167M | $1.860K | $1.860K |
Total Long-Term Assets | $73.82M | $1.369M | $1.369M |
Total Assets | $78.99M | $1.371M | $1.371M |
YoY Change | 877.44% | -82.05% | -82.05% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $3.304M | $3.304M | |
YoY Change | 75.15% | 75.15% | |
Accrued Expenses | $96.36K | $96.36K | |
YoY Change | 128.34% | ||
Deferred Revenue | $1.023M | $802.5K | |
YoY Change | |||
Short-Term Debt | $1.549M | $1.549M | |
YoY Change | 125.55% | 125.55% | |
Long-Term Debt Due | $928.3K | $220.0K | |
YoY Change | |||
Total Short-Term Liabilities | $22.88M | $7.984M | $7.984M |
YoY Change | 353.63% | 142.27% | 142.27% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $593.9K | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $4.370M | $4.370M | |
YoY Change | 0.0% | 0.0% | |
Total Long-Term Liabilities | $593.9K | $4.370M | $4.370M |
YoY Change | -86.41% | 0.0% | 0.0% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $22.88M | $7.984M | $7.984M |
Total Long-Term Liabilities | $593.9K | $4.370M | $4.370M |
Total Liabilities | $24.18M | $12.35M | $12.35M |
YoY Change | 156.83% | 61.17% | 61.17% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$9.773M | -$12.82M | |
YoY Change | 0.19% | 66.02% | |
Common Stock | $1.481K | $350.00 | |
YoY Change | 0.86% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$10.98M | -$10.98M | |
YoY Change | |||
Total Liabilities & Shareholders Equity | $78.99M | $1.371M | $1.371M |
YoY Change | 877.44% | -82.05% | -82.05% |
Cashflow Statement
Concept | 2024 Q2 | 2023 Q4 | 2023 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$330.0K | -$2.861M | -$4.414M |
YoY Change | -225.21% | 131.68% | 36.13% |
Depreciation, Depletion And Amortization | $1.473K | ||
YoY Change | 838.22% | ||
Cash From Operating Activities | -$321.5K | -$962.0K | |
YoY Change | -52.46% | -30.85% | |
INVESTING ACTIVITIES | |||
Capital Expenditures | |||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $6.808M | $6.518M | |
YoY Change | -93.82% | -94.08% | |
Cash From Investing Activities | $6.808M | $6.518M | |
YoY Change | -93.82% | -94.08% | |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | -$6.796M | ||
YoY Change | -106.15% | ||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -6.485M | -5.661M | |
YoY Change | -94.07% | -94.83% | |
NET CHANGE | |||
Cash From Operating Activities | -321.5K | -962.0K | |
Cash From Investing Activities | 6.808M | 6.518M | |
Cash From Financing Activities | -6.485M | -5.661M | |
Net Change In Cash | 1.360K | -105.1K | |
YoY Change | -97.81% | -83.9% | |
FREE CASH FLOW | |||
Cash From Operating Activities | -$321.5K | -$962.0K | |
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
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<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;margin:0pt 0pt 12pt 0pt;">Digital Health Acquisition Corp. (the “Company” or “DHAC”) is a 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”).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">On June 9, 2022, DHAC Merger Sub I, Inc. (“Merger Sub I”), a Delaware corporation and a wholly owned subsidiary of the Company, was formed. On June 9, 2022, DHAC Merger Sub II, Inc. (“Merger Sub II”), a Texas corporation and a wholly owned subsidiary of the Company, was formed.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">As of December 31, 2023, the Company had not commenced any significant operations. All activity for the period from inception, the date which operations commenced, through December 31, 2023 relates to the Company’s formation, 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).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;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. On October 20, 2022, in connection with the stockholders meeting to approve the extension, 10,805,877 shares of DHAC’s common stock were redeemed leaving 694,123 shares of common stock subject to redemption. On November 6, 2023, in connection with the stockholders meeting to approve the extension, 579,157 shares of DHAC’s common stock were redeemed leaving 114,966 shares of common stock subject to redemption.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;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;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;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 27 months from the closing of the Initial Public Offering (as extended as of December 31, 2023) 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 27 months from the closing of the Initial Public Offering (as extended as of December 31, 2023), 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;margin:0pt;">On October 20, 2022, stockholders of DHAC approved a proposal to amend DHAC’s amended and restated certificate of incorporation to (a) extend the date by which DHAC has to consummate a Business Combination (the “Extension”) for an additional <span style="-sec-ix-hidden:Hidden_Hp5y9HUEqkuTYdk3jV-20Q;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">three</span></span> (3) months, from November 8, 2022 to February 8, 2023, (b) provide DHAC’s board of directors the ability to further extend the date by which DHAC has to consummate a Business Combination up to three (3) additional times for three (3) months each time, for a maximum of <span style="-sec-ix-hidden:Hidden_fVrViMIfkk6CNPv31WxnQw;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">nine</span></span> (9) additional months if the Sponsor pays an amount equal to $350,000 for each three-month extension (the “Extension Fee”), </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">which amount shall be deposited in the trust account of DHAC; provided, that if as of the time of an extension DHAC has filed a Form S-4 registration statement in connection with its initial Business Combination, then no Extension Fee would be required in connection with such extension; provided further that for each <span style="-sec-ix-hidden:Hidden_N00xuUBdIkaii50lk1QdWQ;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">three</span></span>–month extension (if any) following such extension where no deposit into the Trust Account or other payment has been made, an Extension Fee is required, and (c) allow for DHAC to provide redemption rights to DHAC’s public stockholders in accordance with the requirements of the amended and restated certificate of incorporation without complying with the tender offer rules. In connection with such stockholder vote, an aggregate of 10,805,877 shares of DHAC’s common stock were redeemed leaving 4,156,123 shares issued and outstanding and entitled to vote as of October 20, 2022. The Company subsequently extended the date by which the Company has to consummate a Business Combination pursuant to the three additional <span style="-sec-ix-hidden:Hidden_q066_Eb1AUmc_XxVkEhU_w;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">three</span></span> – month extensions to November 8, 2023, and deposited an aggregate of $700,000 into the Trust Account as extension fees.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">On September 8, 2023, DHAC held a Special Meeting and the stockholders approved an amendment of the Company’s amended and restated certificate of incorporation (as amended from time to time, the “Charter”) to expand the methods that the Company may employ to not become subject to the “penny stock” rules of the U.S. Securities and Exchange Commission (“SEC”). On September 8, 2023, DHAC filed such amendment, which provided that DHAC would be able to consummate the Business Combination even if as a result of the transactions the combined company does not have net tangible assets of at least $5,000,001 upon consummation of such business combination.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">On November 6, 2023, DHAC held its 2023 annual stockholders meeting (“2023 Annual Meeting”). At the 2023 Annual Meeting, the stockholders of DHAC approved amendments to DHAC’s Charter to extend the date by which the Company must consummate a Business Combination (as defined in the Charter) up to four (4) times, each by an additional <span style="-sec-ix-hidden:Hidden_BO2XB4KTckiTwT9QBrFZBQ;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">three</span></span> (3) months, for an aggregate of <span style="-sec-ix-hidden:Hidden_cesckZLqaUGtBDxTt5Sc7A;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">twelve</span></span> (12) additional months (i.e., from November 8, 2023 up to November 8, 2024) or such earlier date as determined by the Company’s board of directors. In connection with the amended Charter, on November 6, 2023, DHAC extended the period of time that it has to consummate its business combination by three months from November 8, 2023 to February 8, 2024. In addition, on February 2, 2024, DHAC further extended the period of time that it has to consummate its business combination by another three months from February 8, 2024 to May 8, 2024.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">Furthermore, at the 2023 Annual Meeting, the stockholders of DHAC also approved an amendment to DHAC’s investment management trust agreement (the “Trust Agreement”), dated as of November 3, 2021 and as amended on October 26, 2022, by and between the Company and Continental Stock Transfer & Trust Company, which allows the Company to extend the business combination period from November 8, 2023 to up to four (4) times, each by an additional <span style="-sec-ix-hidden:Hidden_bN0oXxJn8kKBfNtRJKRPOA;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">three</span></span> (3) months, for an aggregate of <span style="-sec-ix-hidden:Hidden_qi-WHydKhUul4xxhD616rA;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">twelve</span></span> (12) additional months to November 8, 2024 (the “Combination Period”).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">In connection with the 2023 Annual Meeting and amendments to DHAC’s Charter and Trust Agreement, 579,157 shares of Common Stock were redeemed.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;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;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 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_UN8F2ARF0U6gyglBHypfzg;"><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.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">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_FGCraKyGdkaZxGkzVGTMNQ;"><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. 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”.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The Sponsor, along with certain advisors, officers and directors, has 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 the Combination Period 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 fails to complete the initial Business Combination within the Combination Period, although they will be entitled to liquidating distributions from the Trust Account with respect to any public shares they hold if the Company fails 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;margin:0pt 0pt 12pt 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 whether the Sponsor has sufficient funds to satisfy its indemnity obligations and the Company believes 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><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">On June 15, 2022, DHAC entered into the original Business Combination Agreement, by and among DHAC, DHAC Merger Sub I, Inc. (“Merger Sub I”), DHAC Merger Sub II, Inc. (“Merger Sub II” and together with Merger Sub I, the “Merger Subs”), VSee Lab, Inc., a Delaware corporation (“VSee”), and iDoc Virtual Telehealth Solutions, Inc., a Texas corporation (“iDoc”). On August 9, 2022, DHAC, Merger Sub I, Merger Sub II, VSee and iDoc entered into the First Amended and Restated Business Combination Agreement to provide for the concurrent execution of financing documents for a PIPE financing consisting of convertible notes and warrants and delivery of the Cassel Salpeter’s opinion to the Board. On October 6, 2022, DHAC, Merger Sub I, Merger Sub II, VSee and iDoc entered into a Second Amended and Restated Business Combination Agreement to make the consideration payable to VSee and iDoc stockholders 100% DHAC common stock and to provide for the concurrent execution of amended PIPE financing documents providing for the issuance of the shares and warrants to the PIPE investors. On November 3, 2022, the parties entered into a First Amendment to the Second Amended and Restated Business Combination Agreement to remove a closing condition that DHAC have at least $10 million in cash proceeds from the transactions at closing. On July 11, 2023, each of the PIPE Investors provided notice to the Company that since a closing condition was not met, the PIPE Investors were under no obligation to close the PIPE Financing. Accordingly, the PIPE financing was terminated. On November 21, 2023, DHAC, Merger Sub I, Merger Sub II, VSee and iDoc entered into the Third Amended and Restated Business Combination Agreement (as amended and restated, the “Business Combination Agreement” and the transactions contemplated thereby, the “Business Combination”) to, among other things, provide for the removal of the PIPE financing and the </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">concurrent execution of the Additional Bridge Financing, the Exchange Financing, the Quantum Financing, the Equity Financing and the Loan Conversions, which are described in Note 6 – Commitments. The DHAC Board has (i) approved and declared advisable the Business Combination Agreement, the Business Combination and the other transactions contemplated thereby and (ii) resolved to recommend approval of the Business Combination Agreement and related matters by the stockholders of DHAC.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">Pursuant to the Business Combination Agreement and subject to the terms and conditions set forth therein, Merger Sub I will merge with and into VSee (the “VSee Merger”), with VSee surviving the VSee Merger as a wholly owned subsidiary of DHAC, and Merger Sub II will merge with and into iDoc (the “iDoc Merger” and, together with the VSee Merger, the “Mergers”), with iDoc surviving the iDoc Merger as a wholly owned subsidiary of DHAC. At the effective time of the Mergers (the “Effective Time”), DHAC will change its name to VSee Health, Inc.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;">NASDAQ Trading Status</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">On March 31, 2023, DHAC received a letter from the staff (the “Staff”) at The Nasdaq Global Market (“Nasdaq Global”) notifying DHAC that for the 30 consecutive trading days prior to the date of the Letter, DHAC’s securities listed on the Nasdaq Global (including the Common Stock, Units and Warrants) (the “Securities”) had traded at a value below the minimum $50,000,000 “Market Value of Listed Securities (“MVLS”) requirement set forth in Nasdaq Listing Rule 5450(b)(2)(A), which is required for continued listing of DHAC’s Securities on Nasdaq Global. In accordance with Nasdaq listing rule 5810I(3)I, DHAC had 180 calendar days, or until September 27, 2023, to regain compliance.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">On May 23, 2023, DHAC received a second letter from the Staff notifying DHAC that for the prior 30 consecutive business days, DHAC’s market value of publicly held shares (“MVPHS”) was below the $15 million required for continued listing on the Nasdaq Global and therefore, DHAC no longer met Nasdaq Listing Rule 5450(b)(3)(C) (the “MVPHS Requirement”). In accordance with Nasdaq Listing Rule 5810I(3)(D), DHAC had 180 calendar days, or until November 20, 2023, to regain compliance.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">On September 28, 2023, DHAC received a third letter from the Staff notifying DHAC that the Staff had determined to delist DHAC’s Securities because it had not regained compliance with the MVLS standard. Pursuant to the third letter, on October 4, 2023, DHAC requested a hearing (the “Hearing”) to appeal this determination and also applied to transfer the listing of its Securities from Nasdaq Global to the Nasdaq Capital Market (“NasdaqCM”).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">On October 9, 2023, DHAC received a fourth letter from the Staff notifying DHAC that its not meeting the 400 total shareholders requirement under the Nasdaq Listing Rule 5450(a)(2) served as an additional basis for delisting DHAC’s Securities from Nasdaq Global.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">On October 26, 2023, the Nasdaq Listing Qualifications Department of the Nasdaq Stock Market notified DHAC in writing (the “Notice”) that its application to transfer the listing of its Securities to NasdaqCM had been approved. DHAC’s Securities were transferred to the NasdaqCM at the opening of business on October 30, 2023. On November 1, 2023, DHAC received a letter from the Nasdaq Global Hearing panel that due to DHAC’s transfer of its listed Securities to NasdaqCM, the Hearing on November 30, 2023 regarding non-compliance with the Nasdaq Global listing standards had been cancelled.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">As of October 30, 2023, DHAC’s Securities are listed and traded on The Nasdaq Stock Market on NasdaqCM and will continue to be listed and traded on NasdaqCM.</p> | |
CY2023 | dhacu |
Condition For Future Business Combination Number Of Businesses Minimum
ConditionForFutureBusinessCombinationNumberOfBusinessesMinimum
|
1 | |
CY2023Q4 | dhacu |
Transaction Costs
TransactionCosts
|
6877164 | |
CY2023Q4 | dhacu |
Sale Of Stock Underwriting Fees
SaleOfStockUnderwritingFees
|
1955000 | |
CY2023Q4 | dhacu |
Deferred Offering Costs Noncurrent
DeferredOfferingCostsNoncurrent
|
4370000 | |
CY2023Q4 | dhacu |
Sale Of Stock Other Offering Costs
SaleOfStockOtherOfferingCosts
|
552164 | |
CY2023Q4 | dhacu |
Cash Held Outside Trust Account
CashHeldOutsideTrustAccount
|
9478 | |
CY2022Q4 | dhacu |
Number Of Extensions To Consummate Business Combination
NumberOfExtensionsToConsummateBusinessCombination
|
3 | |
CY2022Q4 | dhacu |
Extension Fee Payable By Sponsor
ExtensionFeePayableBySponsor
|
350000 | |
CY2023Q4 | dhacu |
Extension Fee For Each Additional Three Months Extension Period
ExtensionFeeForEachAdditionalThreeMonthsExtensionPeriod
|
0 | |
CY2023Q4 | us-gaap |
Stock Redeemed Or Called During Period Shares
StockRedeemedOrCalledDuringPeriodShares
|
10805877 | |
CY2023Q4 | dhacu |
Shares Issued And Outstanding Entitled To Vote
SharesIssuedAndOutstandingEntitledToVote
|
4156123 | |
CY2023Q4 | dhacu |
Number Of Extensions To Consummate Business Combination
NumberOfExtensionsToConsummateBusinessCombination
|
3 | |
CY2023Q4 | dhacu |
Aggregate Amount Deposited Into Trust Account As Extension Fees
AggregateAmountDepositedIntoTrustAccountAsExtensionFees
|
700000 | |
CY2023Q3 | dhacu |
Condition For Future Business Combination Threshold Net Tangible Assets
ConditionForFutureBusinessCombinationThresholdNetTangibleAssets
|
5000001 | |
CY2023Q4 | dhacu |
Number Of Extensions To Consummate Business Combination
NumberOfExtensionsToConsummateBusinessCombination
|
4 | |
CY2023Q4 | dhacu |
Term By Which Period To Consummate Initial Business Combination Extended
TermByWhichPeriodToConsummateInitialBusinessCombinationExtended
|
P3M | |
CY2022Q4 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
|
0 | |
CY2023Q4 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
|
0 | |
CY2023Q4 | dhacu |
Number Of Extensions To Consummate Business Combination
NumberOfExtensionsToConsummateBusinessCombination
|
4 | |
CY2023 | dhacu |
Condition For Future Business Combination Number Of Businesses Minimum
ConditionForFutureBusinessCombinationNumberOfBusinessesMinimum
|
1 | |
CY2023 | dhacu |
Threshold Minimum Aggregate Fair Market Value As Percentage Of Asset Held In Trust Account
ThresholdMinimumAggregateFairMarketValueAsPercentageOfAssetHeldInTrustAccount
|
80 | |
CY2023 | dhacu |
Condition For Future Business Combination Threshold Percentage Ownership
ConditionForFutureBusinessCombinationThresholdPercentageOwnership
|
50 | |
CY2023 | dhacu |
Maximum Allowed Dissolution Expenses
MaximumAllowedDissolutionExpenses
|
100000 | |
CY2022Q4 | us-gaap |
Business Acquisition Cost Of Acquired Entity Transaction Costs
BusinessAcquisitionCostOfAcquiredEntityTransactionCosts
|
10000000 | |
CY2023 | dhacu |
Threshold Consecutive Trading Days Prior To Date Of Letter
ThresholdConsecutiveTradingDaysPriorToDateOfLetter
|
P30D | |
CY2023Q1 | dhacu |
Minimum Market Value Of Listed Securities
MinimumMarketValueOfListedSecurities
|
50000000 | |
CY2023Q2 | dhacu |
Threshold Consecutive Trading Days Prior To Date Of Letter
ThresholdConsecutiveTradingDaysPriorToDateOfLetter
|
P30D | |
CY2023Q2 | dhacu |
Minimum Market Value Of Listed Securities
MinimumMarketValueOfListedSecurities
|
15000000 | |
CY2023Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
1863 | |
CY2023 | dhacu |
Working Capital
WorkingCapital
|
7982537 | |
CY2022 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
0 | |
CY2023 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
0 | |
CY2023 | 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;margin:0pt 0pt 12pt 0pt;">The preparation of the consolidated 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 consolidated 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;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 consolidated financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. The most significant accounting estimates were the assumptions used to fair value the PIPE Forward Contract, the Extension Note Bifurcated Derivative, the Bridge Note Bifurcated Derivative, the Additional Bridge Note and the Exchange Note (each term as defined below). Accordingly, the actual results could differ significantly from those estimates.</p> | |
CY2022Q4 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
0 | |
CY2023Q4 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
0 | |
CY2023 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.000 | |
CY2022 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
-0.061 | |
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 At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.210 | |
CY2022Q4 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
0 | |
CY2023Q4 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
0 | |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-4413866 | |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-3242501 | |
CY2023 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
4096353 | |
CY2023 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
4096353 | |
CY2022 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
12741219 | |
CY2022 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
12741219 | |
CY2023 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-1.08 | |
CY2023 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-1.08 | |
CY2022 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.25 | |
CY2022 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.25 | |
CY2023 | 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;font-style:italic;font-weight:bold;text-align:justify;margin:0pt 0pt 12pt 0pt;"><span style="font-style:normal;font-weight:normal;">The Company has significant cash balances at a financial institutions which throughout the year regularly exceeded the federally insured limited of $250,000. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations, and cash flows.</span></p> | |
CY2023 | dhacu |
Percentage Of Common Stock Shares To Be Redeemed Or Repurchased Upon Failure To Consummate Business Combination
PercentageOfCommonStockSharesToBeRedeemedOrRepurchasedUponFailureToConsummateBusinessCombination
|
1 | |
CY2023Q4 | us-gaap |
Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
|
72396 | |
CY2023 | dhacu |
Proceeds Held In Trust Account Used To Repay Working Capital Loans
ProceedsHeldInTrustAccountUsedToRepayWorkingCapitalLoans
|
0 | |
CY2023Q4 | dhacu |
Maximum Value Of Shares Agreed To Be Purchased
MaximumValueOfSharesAgreedToBePurchased
|
50000000 | |
CY2021Q4 | dhacu |
Maximum Number Of Demands For Registration Of Securities
MaximumNumberOfDemandsForRegistrationOfSecurities
|
2 | |
CY2023 | dhacu |
Deferred Underwriting Commission Percent
DeferredUnderwritingCommissionPercent
|
3.8 | |
CY2023Q4 | dhacu |
Debt Instrument Convertible Stock Price Trigger For Reset Of Conversion Price
DebtInstrumentConvertibleStockPriceTriggerForResetOfConversionPrice
|
3 | |
CY2023Q4 | dhacu |
Maximum Consecutive Days For Suspension For Use Of Resale Registration Statement
MaximumConsecutiveDaysForSuspensionForUseOfResaleRegistrationStatement
|
90 | |
CY2023Q4 | dhacu |
Common Stock Number Of Votes Per Share
CommonStockNumberOfVotesPerShare
|
1 | |
CY2023 | dhacu |
Months To Complete Acquisition Period
MonthsToCompleteAcquisitionPeriod
|
P27M | |
CY2022Q4 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
12057000 | |
CY2023Q4 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
12057000 | |
CY2023Q4 | us-gaap |
Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight
|
1 | |
CY2023Q4 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
11.50 | |
CY2023 | dhacu |
Number Of Warrants Exercisable For Cash
NumberOfWarrantsExercisableForCash
|
0 | |
CY2023 | dhacu |
Warrants Trading Days On Which Fair Market Value Of Shares Is Reported
WarrantsTradingDaysOnWhichFairMarketValueOfSharesIsReported
|
5 | |
CY2023 | dhacu |
Warrants Trading Days On Which Fair Market Value Of Shares Is Reported
WarrantsTradingDaysOnWhichFairMarketValueOfSharesIsReported
|
5 | |
CY2023Q4 | dhacu |
Share Price Trigger Used To Measure Dilution Of Warrants
SharePriceTriggerUsedToMeasureDilutionOfWarrants
|
9.20 | |
CY2023 | dhacu |
Percentage Of Gross New Proceeds To Total Equity Proceeds Used To Measure Dilution Of Warrant
PercentageOfGrossNewProceedsToTotalEquityProceedsUsedToMeasureDilutionOfWarrant
|
60 | |
CY2023Q4 | dhacu |
Share Price Trigger Used To Measure Dilution Of Warrants
SharePriceTriggerUsedToMeasureDilutionOfWarrants
|
9.20 | |
CY2023 | dhacu |
Warrant Exercise Price Adjustment Multiple
WarrantExercisePriceAdjustmentMultiple
|
115 | |
CY2023 | dhacu |
Warrant Redemption Condition Minimum Share Price
WarrantRedemptionConditionMinimumSharePrice
|
18.00 | |
CY2022 | dhacu |
Warrant Redemption Price Adjustment Multiple
WarrantRedemptionPriceAdjustmentMultiple
|
180 | |
CY2023Q4 | dhacu |
Common Stock Number Of Votes Per Share
CommonStockNumberOfVotesPerShare
|
1 | |
CY2023 | dhacu |
Warrant Exercise Restriction Threshold Percent Of Common Stock Owned
WarrantExerciseRestrictionThresholdPercentOfCommonStockOwned
|
9.8 | |
CY2023Q4 | dhacu |
Exercise Of Warrants Fractional Shares Issued
ExerciseOfWarrantsFractionalSharesIssued
|
0 | |
CY2022Q4 | us-gaap |
Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
|
0 | |
CY2023Q4 | us-gaap |
Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
|
0 | |
CY2023Q4 | dhacu |
Deferred Tax Assets Net Operating Loss Carryforwards
DeferredTaxAssetsNetOperatingLossCarryforwards
|
461882 | |
CY2022Q4 | dhacu |
Deferred Tax Assets Net Operating Loss Carryforwards
DeferredTaxAssetsNetOperatingLossCarryforwards
|
-379 | |
CY2023Q4 | dhacu |
Deferred Tax Assets Capitalized Start Up And Organization Costs
DeferredTaxAssetsCapitalizedStartUpAndOrganizationCosts
|
1622610 | |
CY2022Q4 | dhacu |
Deferred Tax Assets Capitalized Start Up And Organization Costs
DeferredTaxAssetsCapitalizedStartUpAndOrganizationCosts
|
962297 | |
CY2023Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
2084492 | |
CY2022Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
961918 | |
CY2023Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
2084492 | |
CY2022Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
961918 | |
CY2022 | us-gaap |
Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
|
187225 | |
CY2023 | us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
-926728 | |
CY2022 | us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
-741805 | |
CY2023 | us-gaap |
Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
|
-191524 | |
CY2022 | us-gaap |
Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
|
-153306 | |
CY2023 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
-1118252 | |
CY2022 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
-895111 | |
CY2022 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
187225 | |
CY2023Q4 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
1822738 | |
CY2022Q4 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
0 | |
CY2023 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
-1118252 | |
CY2022 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
-895111 | |
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 State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
|
0.043 | |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
|
0.043 | |
CY2023 | dhacu |
Effective Income Tax Rate Reconciliation Of Bridge Note Bifurcated Derivative
EffectiveIncomeTaxRateReconciliationOfBridgeNoteBifurcatedDerivative
|
0.007 | |
CY2022 | dhacu |
Effective Income Tax Rate Reconciliation Of Bridge Note Bifurcated Derivative
EffectiveIncomeTaxRateReconciliationOfBridgeNoteBifurcatedDerivative
|
-0.007 | |
CY2023 | dhacu |
Effective Income Tax Rate Reconciliation Of Pipe Forward Contract Derivative
EffectiveIncomeTaxRateReconciliationOfPipeForwardContractDerivative
|
0.010 | |
CY2022 | dhacu |
Effective Income Tax Rate Reconciliation Of Pipe Forward Contract Derivative
EffectiveIncomeTaxRateReconciliationOfPipeForwardContractDerivative
|
-0.014 | |
CY2023 | dhacu |
Effective Income Tax Rate Reconciliation Initial Fair Value Of Equity Line Of Credit
EffectiveIncomeTaxRateReconciliationInitialFairValueOfEquityLineOfCredit
|
0.012 | |
CY2023 | dhacu |
Effective Income Tax Rate Reconciliation Initial Fair Value Of Additional Bridge Promissory Note
EffectiveIncomeTaxRateReconciliationInitialFairValueOfAdditionalBridgePromissoryNote
|
0.001 | |
CY2023 | dhacu |
Effective Income Tax Rate Reconciliation Fair Value Changes Of Exchange Note
EffectiveIncomeTaxRateReconciliationFairValueChangesOfExchangeNote
|
0.006 | |
CY2023 | dhacu |
Effective Income Tax Rate Reconciliation Fair Value Changes In Equity Line Of Credits
EffectiveIncomeTaxRateReconciliationFairValueChangesInEquityLineOfCredits
|
0.000 | |
CY2023 | dhacu |
Effective Income Tax Rate Reconciliation Fair Value Changes Of Additional Bridge Promissory Note
EffectiveIncomeTaxRateReconciliationFairValueChangesOfAdditionalBridgePromissoryNote
|
0.000 | |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-0.253 | |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-0.293 | |
CY2023 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.000 | |
CY2022 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
-0.061 | |
CY2023 | dhacu |
Amount Withdrew From Trust Account
AmountWithdrewFromTrustAccount
|
71436 | |
CY2023 | us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
6796063 | |
CY2022 | dhacu |
Amount Withdrew From Trust Account
AmountWithdrewFromTrustAccount
|
110472254 | |
CY2022 | us-gaap |
Stock Redeemed Or Called During Period Shares
StockRedeemedOrCalledDuringPeriodShares
|
10805877 | |
CY2022Q4 | dhacu |
Pipe Forward Contract Derivative
PipeForwardContractDerivative
|
170666 | |
CY2022Q4 | dhacu |
Fair Value Liabilities Level1 To Level2 Transfer Amount
FairValueLiabilitiesLevel1ToLevel2TransferAmount
|
0 | |
CY2023Q4 | dhacu |
Fair Value Liabilities Level1 To Level2 Transfer Amount
FairValueLiabilitiesLevel1ToLevel2TransferAmount
|
0 |