What changed in this filing

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Item 3. Quantitative and Qualitative Disclosures About Market Risk

2024-11-14 compared with 2024-08-14 · 70 added, 11 removed, 1 unchanged (99% of the section changed)

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

net proceeds of our Public Offering and a portion of the proceeds of our concurrent sale of Private Placement Warrants are held in a

Trust Account invested in cash or U.S.

Government Treasury obligations with a maturity of 185 days or less or in money market funds meeting

certain conditions under Rule 2a-7 under the Investment Company Act of 1940, as amended, and which invest only in direct U.S.

Treasury obligations.

On January 11, 2023, we liquidated the U.S.

government treasury obligations or money market funds held in the Trust

The funds in the Trust Account will be maintained in cash in an interest-bearing demand deposit account at a bank until the

earlier of our initial Business Combination and our liquidation.

Interest on such deposit account is currently approximately 4.5% per

annum, but such deposit account carries a variable rate, and we cannot assure you that such rate will not decrease or increase significantly.

Risk Framework

risk represents the risk of losses, or financial volatility, that may result from the change in value of our products due to fluctuations

in its market price.

The scope of our market risk management policies and procedures includes all market-sensitive data related to input

and selling prices.

We expect to be able to limit this risk by using third parties to finance acquisition of feedstock and logistics,

We may enter into long-term arrangements for supply to limit impacts of market risk.

Company’s different types of market risk include:

rate risk represents the potential volatility from changes in market interest rates.

We are exposed to interest rate risk arising from

changes in the level and volatility of interest rates, changes in the slope of the yield curve, changes in credit spreads, and the rate

of prepayments on our interest-earning assets (e.g., inventories) and our funding sources (e.g., short-term financing) which finance

these assets.

Project finance and loan facilities are a key component of our financing strategy.

Volatility in the interest rate market

could impede our plans for growth.

risk is the risk that we are unable to timely access necessary funding sources in order to operate our business, as well as the risk

that we are unable to timely divest securities that we hold in connection with our sales and trading activities.

The Company has been

successful in equity financing in the past but there is no assurance that it will continue to be able to finance the Company with equity

The Company does not have substantial credit lines for financing the Company.

risk refers to the potential for loss due to the default or deterioration in credit quality of a counterparty, customer, borrower, or

The nature and amount of credit risk depends on the type of transaction, the structure and duration of that transaction and the

parties involved.

Credit risk also results from an obligor’s failure to meet the terms of any contract with us or otherwise fail

to perform as agreed.

This may be reflected through issues such as settlement obligations or payment collections.

success of our plan requires us to be able to operationally deliver on the project plan and timelines as projected by management.

order to mitigate and control operational risk, we will develop policies and procedures that are designed to identify and manage operational

risk at appropriate levels throughout the organization.

We will also have business continuity plans in place that we believe will cover

critical processes on a company-wide basis, and redundancies are built into our systems as we deem appropriate.

These control mechanisms

will be designed to ensure that operational policies and procedures are being followed and that our various businesses are operating

within established corporate policies and limits.

We are leveraging and intend to continue implementing established best practices for

our industry to reduce operational risk.

success of our business is dependent upon the skills, expertise, industry knowledge and performance of our employees.

Human capital risks

represent the risks posed if we fail to attract and retain qualified individuals, particularly those having specialized technical knowledge

in the exploration, extraction, and purification of brine from varying sources to produce battery grade lithium, and employees who are

motivated to serve the best interests of our clients, thereby serving the best interests of our Company.

Attracting and retaining employees

depends, among other things, on our Company’s culture, management, work environment, geographic locations and compensation.

are risks associated with the proper recruitment, development and rewards of our employees to ensure quality performance and retention.

We offer competitive compensation and benefits to retain human capital, intend to offer educational opportunities to allow advancement,

and promote balance in work life conditions by offering hybrid work from home options.

and regulatory risk

and regulatory risk includes the risk of non-compliance with applicable legal and regulatory requirements and loss to our reputation

we may suffer as a result of failure to comply with laws, regulations, rules, related self-regulatory organization standards and codes

of conduct applicable to our business activities.

We are generally subject to extensive regulation in the various jurisdictions in which

we conduct our business.

We are in the process of setting up procedures that are designed to ensure compliance with applicable statutory

and regulatory requirements, such as public company reporting obligations, regulatory net capital requirements, sales practices, potential

conflicts of interest, anti-money laundering, privacy and recordkeeping.

We will also establish procedures that are designed to require

that our policies relating to ethics and business conduct are followed.

Risk Exposure

of September 30, 2024, the Company did not have any significant risk for changes in interest rates.

are subject to credit risk with respect to our cash balances for those amounts in excess of the FDIC insured amount of $250,000.

has only one financial banking institution.

do not believe that inflation has had a material effect on our business, financial condition, or results of operations, other than its

impact on the general economy.

However, we are currently operating in a more volatile inflationary environment due to macroeconomic conditions

and have limited data and experience doing so in our history, particularly as we continue to invest in growth in our business.

The principal

inflationary factor affecting our business is higher costs.

Our inability or failure to address challenges relating to inflation could

harm our business, financial condition, and results of operations.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 3. Quantitative and Qualitative Disclosures About Market Risk