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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0">&#160;</p>
  
  
  <!-- Field: Page; Sequence: 2 -->
      <div style="margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="width: 100%"><tr><td style="text-align: center; width: 100%">&#160;</td></tr></table></div>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b><span id="TOC"></span>ARMADA ACQUISITION CORP. I</b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>&#160;</b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Quarterly Report on Form 10-Q</b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Table of Contents</b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b><sup>&#160;</sup></b></p>
  
  <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse">
    <tr style="background-color: #CCEEFF">
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      <td style="vertical-align: bottom">&#160;</td>
      <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
    <tr>
      <td style="vertical-align: top; width: 8%; text-align: justify">&#160;</td>
      <td style="vertical-align: top; width: 1%; text-align: justify">&#160;</td>
      <td style="vertical-align: top; width: 82%; padding-left: 9pt; text-align: justify; text-indent: -9pt">&#160;</td>
      <td style="vertical-align: bottom; width: 1%">&#160;</td>
      <td style="vertical-align: bottom; width: 8%; text-align: center">&#160;</td></tr>
    <tr style="background-color: #CCEEFF">
      <td style="vertical-align: top; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item&#160;1.</span></td>
      <td style="vertical-align: top; text-align: justify">&#160;</td>
      <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial Statements</span></td>
      <td style="vertical-align: bottom">&#160;</td>
      <td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#FinancialStatements">1</a></span></td></tr>
    <tr>
      <td style="vertical-align: top; text-align: justify">&#160;</td>
      <td style="vertical-align: top; text-align: justify">&#160;</td>
      <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt">&#160;</td>
      <td style="vertical-align: bottom">&#160;</td>
      <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
    <tr style="background-color: #CCEEFF">
      <td style="vertical-align: top; text-align: justify">&#160;</td>
      <td style="vertical-align: top; text-align: justify">&#160;</td>
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      <td style="vertical-align: bottom"><span style="color: Black">&#160;</span></td>
      <td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><a href="#BalanceSheet">1</a></span></td></tr>
    <tr>
      <td style="vertical-align: top; text-align: justify"><span style="color: Black">&#160;</span></td>
      <td style="vertical-align: top; text-align: justify">&#160;</td>
      <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt">&#160;</td>
      <td style="vertical-align: bottom">&#160;</td>
      <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
    <tr style="background-color: #CCEEFF">
      <td style="vertical-align: top; text-align: justify">&#160;</td>
      <td style="vertical-align: top; text-align: justify">&#160;</td>
      <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unaudited Condensed Statement of Operations for the Three Months ended December 31, 2021 </span></td>
      <td style="vertical-align: bottom">&#160;</td>
      <td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#operations">2</a></span></td></tr>
    <tr>
      <td style="vertical-align: top; text-align: justify">&#160;</td>
      <td style="vertical-align: top; text-align: justify">&#160;</td>
      <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt">&#160;</td>
      <td style="vertical-align: bottom">&#160;</td>
      <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
    <tr style="background-color: #CCEEFF">
      <td style="vertical-align: top; text-align: justify">&#160;</td>
      <td style="vertical-align: top; text-align: justify">&#160;</td>
      <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unaudited Condensed Statement of Changes in Stockholders&#8217; Equity (Deficit) for the three months ended December 31, 2021</span></td>
      <td style="vertical-align: bottom">&#160;</td>
      <td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#shareholdersequity">3</a></span></td></tr>
    <tr>
      <td style="vertical-align: top; text-align: justify">&#160;</td>
      <td style="vertical-align: top; text-align: justify">&#160;</td>
      <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt">&#160;</td>
      <td style="vertical-align: bottom">&#160;</td>
      <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
    <tr style="background-color: #CCEEFF">
      <td style="vertical-align: top; text-align: justify">&#160;</td>
      <td style="vertical-align: top; text-align: justify">&#160;</td>
      <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unaudited Condensed Statement of Cash Flows for the Three Months ended December 31, 2021</span></td>
      <td style="vertical-align: bottom">&#160;</td>
      <td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#cashflows">4</a></span></td></tr>
    <tr>
      <td style="vertical-align: top; text-align: justify">&#160;</td>
      <td style="vertical-align: top; text-align: justify">&#160;</td>
      <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt">&#160;</td>
      <td style="vertical-align: bottom">&#160;</td>
      <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
    <tr style="background-color: #CCEEFF">
      <td style="vertical-align: top; text-align: justify">&#160;</td>
      <td style="vertical-align: top; text-align: justify">&#160;</td>
      <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to Unaudited Condensed Financial Statements</span></td>
      <td style="vertical-align: bottom">&#160;</td>
      <td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#notes">5</a></span></td></tr>
    <tr>
      <td style="vertical-align: top; text-align: justify">&#160;</td>
      <td style="vertical-align: top; text-align: justify">&#160;</td>
      <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt">&#160;</td>
      <td style="vertical-align: bottom">&#160;</td>
      <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
    <tr style="background-color: #CCEEFF">
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      <td style="vertical-align: top; text-align: justify">&#160;</td>
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      <td style="vertical-align: bottom">&#160;</td>
      <td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#item2">17</a></span></td></tr>
    <tr>
      <td style="vertical-align: top; text-align: justify">&#160;</td>
      <td style="vertical-align: top; text-align: justify">&#160;</td>
      <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt">&#160;</td>
      <td style="vertical-align: bottom">&#160;</td>
      <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
    <tr style="background-color: #CCEEFF">
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      <td style="vertical-align: top; text-align: justify">&#160;</td>
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      <td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#item3">23</a></span></td></tr>
    <tr>
      <td style="vertical-align: top; text-align: justify">&#160;</td>
      <td style="vertical-align: top; text-align: justify">&#160;</td>
      <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt">&#160;</td>
      <td style="vertical-align: bottom">&#160;</td>
      <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
    <tr style="background-color: #CCEEFF">
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      <td style="vertical-align: top; text-align: justify">&#160;</td>
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      <td style="vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="#item4">23</a></span></td></tr>
    <tr>
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      <td style="vertical-align: bottom">&#160;</td>
      <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
    <tr style="background-color: #CCEEFF">
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      <td style="vertical-align: bottom">&#160;</td>
      <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
    <tr>
      <td style="vertical-align: top; text-align: justify">&#160;</td>
      <td style="vertical-align: top; text-align: justify">&#160;</td>
      <td style="vertical-align: top; padding-left: 9pt; text-align: justify; text-indent: -9pt">&#160;</td>
      <td style="vertical-align: bottom">&#160;</td>
      <td style="vertical-align: bottom; text-align: center">&#160;</td></tr>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>
  
  <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><b>&#160;</b></p>
  
  
  <!-- Field: Page; Sequence: 3; Section: TOC; Options: NewSection; Value: 1 -->
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  <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><b>&#160;</b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center">&#160;<span><b><span id="PartI"></span>PART&#160;I
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span><span id="FinancialStatements"></span><b>Item&#160;1.
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      <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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      <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0104">&#8212;</span>&#160;&#160;</td><td style="text-align: left">&#160;</td></tr>
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    <tr id="xdx_40D_eus-gaap--AdditionalPaidInCapital_i01I_maSEzs1S_zDxWVp2huhk6" style="vertical-align: bottom; background-color: rgb(204,238,255)">
      <td style="text-align: left; padding-left: 5.4pt">Additional paid-in capital</td><td>&#160;</td>
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    <tr id="xdx_40C_eus-gaap--RetainedEarningsAccumulatedDeficit_i01I_maSEzs1S_zzXMzs29YfNl" style="vertical-align: bottom; background-color: White">
      <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Accumulated deficit</td><td style="padding-bottom: 1pt">&#160;</td>
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    <tr id="xdx_40A_eus-gaap--StockholdersEquity_i01TI_mtSEzs1S_maLASEzebg_zmPCqI1EDlBi" style="vertical-align: bottom; background-color: rgb(204,238,255)">
      <td style="font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Total stockholders&#8217; equity (deficit)</td><td style="padding-bottom: 1pt">&#160;</td>
      <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(<ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">1,097,674</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td>
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    <tr style="vertical-align: bottom; background-color: White">
      <td style="padding-bottom: 1pt; padding-left: 5.4pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
      <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
      <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
    <tr id="xdx_40E_eus-gaap--LiabilitiesAndStockholdersEquity_i01TI_mtLASEzebg_zekVbqNqHxFd" style="vertical-align: bottom; background-color: rgb(204,238,255)">
      <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">Total Liabilities, Common Stock Subject to Possible Redemption and Stockholders&#8217; Equity (Deficit)</td><td style="padding-bottom: 2.5pt">&#160;</td>
      <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="us-gaap:LiabilitiesAndStockholdersEquity" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">150,763,884</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
      <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="us-gaap:LiabilitiesAndStockholdersEquity" contextRef="AsOf2021-09-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">151,119,504</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
    </table>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><b>&#160;</b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; background-color: white">The accompanying notes
  are an integral part of these unaudited condensed financial statements.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; background-color: white"><b>&#160;</b></p>
  
  
  <!-- Field: Page; Sequence: 4; Section: main; Options: NewSection; Value: 1 -->
      <div style="margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="width: 100%"><tr><td style="font-size: 10pt; text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence -->&#160;</td></tr></table></div>
      <div style="break-before: page; margin-top: 6pt"><table cellpadding="0" cellspacing="0" style="width: 100%"><tr><td style="font-size: 8pt; text-align: left; width: 100%"><i><a href="#TOC">Table of Contents</a></i></td></tr></table></div>
      <!-- Field: /Page -->
  
  <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><b>&#160;</b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; background-color: white"><span id="operations"></span><b>ARMADA ACQUISITION
  CORP. I<br />
  UNAUDITED CONDENSED STATEMENT OF OPERATIONS<br />
  <span style="text-transform: uppercase">FOR THE THREE MONTHS ENDED DECEMBER 31, 2021</span></b></p>
  
  <table cellpadding="0" cellspacing="0" id="xdx_303_113_ziqHOF1Ox8p2" summary="xdx: Statement - UNAUDITED CONDENSED STATEMENT OF OPERATIONS" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
      <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
      <td style="text-align: left; padding-left: 5.4pt">&#160;</td><td>&#160;</td>
      <td style="text-align: left">&#160;</td><td id="xdx_49E_20211001__20211231_zuAu8HPLWQY8" style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40D_eus-gaap--OperatingExpenses_msOILz8Mu_zuCaCCGUvNze" style="vertical-align: bottom; background-color: rgb(204,238,255)">
      <td style="width: 70%; text-align: left; padding-left: 5.4pt">Formation and operating costs</td><td style="width: 10%">&#160;</td>
      <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right"><ix:nonFraction name="us-gaap:OperatingExpenses" contextRef="From2021-10-01to2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,010,995</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td></tr>
    <tr id="xdx_40A_eus-gaap--AllocatedShareBasedCompensationExpense_msCze8w_msOILz8Mu_zCcenY2ruje9" style="vertical-align: bottom; background-color: White">
      <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Stock-based compensation</td><td style="padding-bottom: 1pt">&#160;</td>
      <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:AllocatedShareBasedCompensationExpense" contextRef="From2021-10-01to2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">27,963</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
    <tr id="xdx_40E_eus-gaap--OperatingIncomeLoss_mtOILz8Mu_maILFDOz8Xm_z7Nm1IOz5yzj" style="vertical-align: bottom; background-color: rgb(204,238,255)">
      <td style="font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Loss from operations</td><td style="padding-bottom: 1pt">&#160;</td>
      <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(<ix:nonFraction name="us-gaap:OperatingIncomeLoss" contextRef="From2021-10-01to2021-12-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">2,038,958</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">)</td></tr>
    <tr id="xdx_401_eus-gaap--NonoperatingIncomeExpenseAbstract_iB_zPU4SxosxG7c" style="vertical-align: bottom; background-color: White">
      <td style="font-weight: bold; text-align: left; padding-left: 5.4pt">Other income</td><td>&#160;</td>
      <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
    <tr id="xdx_406_ecustom--TrustInterestIncome_maNIOOIzg2w_z1Nk6YLqdT4b" style="vertical-align: bottom; background-color: rgb(204,238,255)">
      <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Trust interest income</td><td style="padding-bottom: 1pt">&#160;</td>
      <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="aaciu:TrustInterestIncome" contextRef="From2021-10-01to2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,844</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
    <tr id="xdx_406_eus-gaap--NoninterestIncomeOtherOperatingIncome_iT_mtNIOOIzg2w_maILFDOz8Xm_zIJ2tAnrjKB9" style="vertical-align: bottom; background-color: White">
      <td style="font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Total other income</td><td style="padding-bottom: 1pt">&#160;</td>
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    <tr id="xdx_40F_eus-gaap--IncomeLossFromDiscontinuedOperationsNetOfTax_iT_mtILFDOz8Xm_zd0sk0wlMuYl" style="vertical-align: bottom; background-color: rgb(204,238,255)">
      <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">Net loss</td><td style="padding-bottom: 2.5pt">&#160;</td>
      <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(<ix:nonFraction name="us-gaap:IncomeLossFromDiscontinuedOperationsNetOfTax" contextRef="From2021-10-01to2021-12-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">2,036,114</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr>
    <tr style="vertical-align: bottom; background-color: White">
      <td style="padding-left: 5.4pt">&#160;</td><td>&#160;</td>
      <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
    <tr id="xdx_406_eus-gaap--WeightedAverageNumberOfShareOutstandingBasicAndDiluted_pii_zK2Z2EzYYtqj" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white">The accompanying notes are
  an integral part of these unaudited condensed financial statements.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.25in; text-align: center; background-color: white"><b>&#160;</b></p>
  
  
  <!-- Field: Page; Sequence: 5 -->
      <div style="margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="width: 100%"><tr><td style="font-size: 10pt; text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence -->&#160;</td></tr></table></div>
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  <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><b>&#160;</b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.25in; text-align: center; background-color: white"><b><span id="shareholdersequity"></span>ARMADA ACQUISITION
  CORP. I<br />
  UNAUDITED CONDENSED STATEMENT OF CHANGES IN STOCKHOLDERS&#8217; EQUITY (DEFICIT)<br />
  <span style="text-transform: uppercase">FOR THE THREE MONTHS ENDED DECEMBER 31, 2021</span></b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&#160;</p>
  
  <table cellpadding="0" cellspacing="0" id="xdx_30B_114_zP3gqPVgfNn5" summary="xdx: Statement - UNAUDITED CONDENSED STATEMENT OF CHANGES IN STOCKHOLDERS&apos; EQUITY (DEFICIT)" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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      <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
      <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">&#160;</td>
      <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">&#160;</td>
      <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">&#160;</td>
      <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">&#160;</td>
      <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">&#160;</td>
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    <tr id="xdx_436_c20211001__20211231_eus-gaap--AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue_zmo0bCAUXxAi" style="vertical-align: bottom; background-color: rgb(204,238,255)">
      <td style="text-align: left; padding-left: 5.4pt">Stock-based compensation</td><td>&#160;</td>
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      <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Net loss</td><td style="padding-bottom: 1pt">&#160;</td>
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      <td style="font-weight: bold; padding-bottom: 2.5pt; padding-left: 5.4pt">Balance as of December 31, 2021 (unaudited)</td><td style="padding-bottom: 2.5pt">&#160;</td>
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    <tr style="vertical-align: bottom; background-color: White">
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      <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
      <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
      <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
      <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">The accompanying notes are an integral part of these
  unaudited condensed financial statements.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&#160;</p>
  
  
  <!-- Field: Page; Sequence: 6 -->
      <div style="margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="width: 100%"><tr><td style="font-size: 10pt; text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence -->&#160;</td></tr></table></div>
      <div style="break-before: page; margin-top: 6pt"><table cellpadding="0" cellspacing="0" style="width: 100%"><tr><td style="font-size: 8pt; text-align: left; width: 100%"><i><a href="#TOC">Table of Contents</a></i></td></tr></table></div>
      <!-- Field: /Page -->
  
  <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><b>&#160;</b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; background-color: white"><b><span id="cashflows"></span>ARMADA ACQUISITION
  CORP. I<br />
  UNAUDITED CONDENSED STATEMENT OF CASH FLOWS<br />
  <span style="text-transform: uppercase">FOR THE THREE MONTHS ENDED DECEMBER 31, 2021</span></b></p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p>
  <table cellpadding="0" cellspacing="0" id="xdx_309_112_zixylFRfoSGk" summary="xdx: Statement - UNAUDITED CONDENSED STATEMENT OF CASH FLOWS" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
      <tr style="vertical-align: bottom">
      <td style="font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">&#160;</td><td>&#160;</td>
      <td>&#160;</td>
      <td id="xdx_492_20211001__20211231_zZNA2YbTMxNi">&#160;</td>
      <td>&#160;</td></tr>
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      <td style="text-align: left; padding-left: 5.4pt">Interest earned on investments held in Trust Account</td><td>&#160;</td>
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    <tr id="xdx_40D_eus-gaap--ShareBasedCompensation_maaxaa_zKTJkrnQw85f" style="vertical-align: bottom; background-color: White">
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    <tr id="xdx_408_eus-gaap--IncreaseDecreaseInOperatingCapitalAbstract_iB_zYywBwbvthM6" style="vertical-align: bottom; background-color: rgb(204,238,255)">
      <td style="text-align: left; padding-left: 5.4pt">Changes in current assets and liabilities:</td><td>&#160;</td>
      <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
    <tr id="xdx_407_eus-gaap--IncreaseDecreaseInPrepaidExpense_i01N_di_msaxaa_zXBY61d41FXk" style="vertical-align: bottom; background-color: White">
      <td style="text-align: left; padding-bottom: 1pt; text-indent: 12.8pt; padding-left: 5.4pt">Prepaid expenses</td><td style="padding-bottom: 1pt">&#160;</td>
      <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:IncreaseDecreaseInPrepaidExpense" contextRef="From2021-10-01to2021-12-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">120,574</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
    <tr id="xdx_401_eus-gaap--IncreaseDecreaseInAccruedLiabilities_i01_maaxaa_zj3igzV4obM4" style="vertical-align: bottom; background-color: rgb(204,238,255)">
      <td style="text-align: left; text-indent: 12.8pt; padding-left: 5.4pt">Accounts payable and accrued expenses</td><td>&#160;</td>
      <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:IncreaseDecreaseInAccruedLiabilities" contextRef="From2021-10-01to2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,603,681</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
    <tr id="xdx_409_eus-gaap--IncreaseDecreaseInAccruedIncomeTaxesPayable_i01_maaxaa_zopG3hulYN1c" style="vertical-align: bottom; background-color: White">
      <td style="text-align: left; padding-bottom: 1pt; padding-left: 17.25pt">Franchise tax payable</td><td style="padding-bottom: 1pt">&#160;</td>
      <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:IncreaseDecreaseInAccruedIncomeTaxesPayable" contextRef="From2021-10-01to2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">48,850</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
    <tr id="xdx_40D_eus-gaap--NetCashProvidedByUsedInOperatingActivities_i01T_mtaxaa_maTOTALOP_zlXBRfteFiw8" style="vertical-align: bottom; background-color: rgb(204,238,255)">
      <td style="font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Net cash used in operating activities</td><td style="padding-bottom: 1pt">&#160;</td>
      <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(<ix:nonFraction name="us-gaap:NetCashProvidedByUsedInOperatingActivities" contextRef="From2021-10-01to2021-12-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">237,890</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">)</td></tr>
    <tr style="vertical-align: bottom; background-color: White">
      <td style="padding-left: 5.4pt">&#160;</td><td>&#160;</td>
      <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
    <tr id="xdx_402_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_iT_mtTOTALOP_zjOt2l9RVJ7i" style="vertical-align: bottom; background-color: rgb(204,238,255)">
      <td style="font-weight: bold; text-align: left; padding-left: 5.4pt">Net change in cash</td><td>&#160;</td>
      <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" contextRef="From2021-10-01to2021-12-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">237,890</ix:nonFraction></td><td style="text-align: left">)</td></tr>
    <tr id="xdx_40A_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_iS_zIETnVHqiMV6" style="vertical-align: bottom; background-color: White">
      <td style="font-weight: bold; padding-bottom: 1pt; padding-left: 5.4pt">Cash, September 30, 2021</td><td style="padding-bottom: 1pt">&#160;</td>
      <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" contextRef="AsOf2021-09-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">657,590</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
    <tr id="xdx_409_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_iE_zMtUn0gVLYx1" style="vertical-align: bottom; background-color: rgb(204,238,255)">
      <td style="font-weight: bold; padding-bottom: 2.5pt; padding-left: 5.4pt">Cash, end of the period</td><td style="padding-bottom: 2.5pt">&#160;</td>
      <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">419,700</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
    </table>
  
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">The accompanying notes are an integral part
  of these unaudited condensed financial statements.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; background-color: white">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; background-color: white">&#160;</p>
  
  
  <!-- Field: Page; Sequence: 7 -->
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      <div style="break-before: page; margin-top: 6pt"><table cellpadding="0" cellspacing="0" style="width: 100%"><tr><td style="font-size: 8pt; text-align: left; width: 100%"><i><a href="#TOC">Table of Contents</a></i></td></tr></table></div>
      <!-- Field: /Page -->
  
  <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><b>&#160;</b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; background-color: white"><span id="notes"></span><b>ARMADA ACQUISITION
  CORP. I<br />
  NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS<br />
  <span style="text-transform: uppercase">December 31, 2021</span></b></p>
  <ix:nonNumeric contextRef="From2021-10-01to2021-12-31" escape="true" name="us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock"><p id="xdx_809_eus-gaap--OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_zQawpHwi43ee" style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0"><span><b>Note 1 &#8212;&#160;<span id="xdx_823_zVrX7XPXcjW7">Organization,
  Business Operations and Going Concern</span></b></span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>Armada Acquisition
  Corp. I (the &#8220;Company&#8221;) is a newly organized blank check company incorporated as a Delaware corporation on&#160;<span id="xdx_908_edei--EntityIncorporationDateOfIncorporation_dd_c20211001__20211231_zjebhkaHzeYb" title="Date of incorporation"><ix:nonNumeric contextRef="From2021-10-01to2021-12-31" format="ixt:datemonthdayyearen" name="dei:EntityIncorporationDateOfIncorporation">November 5,
  2020</ix:nonNumeric></span>. The Company was incorporated for the purpose of effecting a merger, stock exchange, asset acquisition, stock purchase, reorganization
  or other similar business combination with one or more businesses (the &#8220;Business Combination&#8221;). The Company has engaged in
  preliminary discussions with potential business combination targets but has not yet selected a target business with which to consummate
  an initial business combination. The Company intends to concentrate its efforts identifying businesses in the financial services industry
  with particular emphasis on businesses that are providing or changing technology for traditional financial services.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>As of December
  31, 2021, the Company had not commenced any operations. All activity for the period from November 5, 2020 (inception) through December
  31, 2021 relates to the Company&#8217;s formation and the initial public offering (the &#8220;IPO&#8221;) described below, and since the
  closing of the IPO, the search for a prospective initial Business Combination. The Company will not generate any operating revenues until
  after the completion of its initial Business Combination, at the earliest. The Company will generate non-operating income in the form
  of interest income on cash and cash equivalents from the proceeds derived from the IPO.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>The Company&#8217;s
  sponsor is Armada Sponsor LLC (the &#8220;Sponsor&#8221;).</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>The registration
  statement for the Company&#8217;s IPO was declared effective on August 12, 2021 (the &#8220;Effective Date&#8221;). On August 17, 2021,
  the Company commenced the IPO of&#160;<span id="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20210816__20210817__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__custom--UnitsMember_zqHX7Sbz660e" title="Number of shares issued"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2021-08-162021-08-17_us-gaap_IPOMember_custom_UnitsMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">15,000,000</ix:nonFraction></span>&#160;units at $<span id="xdx_90C_eus-gaap--SharesIssuedPricePerShare_iI_pid_c20210817__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__custom--UnitsMember_zclXMxOzDjT1" title="Price per share"><ix:nonFraction name="us-gaap:SharesIssuedPricePerShare" contextRef="AsOf2021-08-17_us-gaap_IPOMember_custom_UnitsMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">10.00</ix:nonFraction></span>&#160;per unit (the &#8220;Units&#8221;), which is discussed in Note
  3 (the &#8220;Initial Public Offering&#8221;).</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>Simultaneously
  with the consummation of the IPO, the Company consummated the private placement of&#160;<span id="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20210816__20210817__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--StatementClassOfStockAxis__custom--PrivateSharesMember_zuxKBicfvFg3"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2021-08-162021-08-17_us-gaap_PrivatePlacementMember_custom_PrivateSharesMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">459,500</ix:nonFraction></span>&#160;shares of common stock (&#8220;Private
  Shares&#8221;), at a price of $<span id="xdx_90B_eus-gaap--SharesIssuedPricePerShare_iI_pid_c20210817__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--StatementClassOfStockAxis__custom--PrivateSharesMember_zOppfnQyS8P7" title="Price per share"><ix:nonFraction name="us-gaap:SharesIssuedPricePerShare" contextRef="AsOf2021-08-17_us-gaap_PrivatePlacementMember_custom_PrivateSharesMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">10.00</ix:nonFraction></span>&#160;per share for an aggregate purchase price of $<span id="xdx_909_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_c20210816__20210817__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--StatementClassOfStockAxis__custom--PrivateMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAggregateMember_zmQHOeZM0M2i" title="Aggregate purchase price"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceOfPrivatePlacement" contextRef="From2021-08-162021-08-17_us-gaap_PrivatePlacementMember_custom_PrivateMember_custom_PurchaseAggregateMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">4,595,000</ix:nonFraction></span>.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>Transaction
  costs amounted to $<span id="xdx_904_eus-gaap--AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts_c20210816__20210817_zPFuH26NuUGl" title="Transaction costs"><ix:nonFraction name="us-gaap:AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts" contextRef="From2021-08-162021-08-17" format="ixt:numdotdecimal" decimals="0" unitRef="USD">3,537,515</ix:nonFraction></span>&#160;consisting of $<span id="xdx_905_ecustom--UnderwritingCommissionCosts_c20210816__20210817_zoSKiYY2n6H" title="Underwriting commissions"><ix:nonFraction name="aaciu:UnderwritingCommissionCosts" contextRef="From2021-08-162021-08-17" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,500,000</ix:nonFraction></span>&#160;of underwriting commissions, and $<span id="xdx_901_ecustom--OtherOfferingCosts_c20210816__20210817_z7Yx2zR7SeP6" title="Other offering costs"><ix:nonFraction name="aaciu:OtherOfferingCosts" contextRef="From2021-08-162021-08-17" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,037,515</ix:nonFraction></span>&#160;of other offering costs.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>Following the
  closing of the IPO on August 17, 2021 after releasing funds to the Company to be held outside of the Trust, $<span id="xdx_90C_eus-gaap--AssetsHeldInTrust_iI_c20210817_zmxxBPnt2pI1" title="Proceeds held in trust account"><ix:nonFraction name="us-gaap:AssetsHeldInTrust" contextRef="AsOf2021-08-17" format="ixt:numdotdecimal" decimals="0" unitRef="USD">150,000,000</ix:nonFraction></span>&#160;($<span id="xdx_907_ecustom--TrustAssetsValuePerShare_iI_pid_c20210817_z3A8fVl1toR5" title="Trust assets value per unit"><ix:nonFraction name="aaciu:TrustAssetsValuePerShare" contextRef="AsOf2021-08-17" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">10.00</ix:nonFraction></span>&#160;per
  Unit) from the net proceeds of the sale of the Units in the IPO was held in a Trust Account (&#8220;Trust Account&#8221;) and has been
  invested only in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act of 1940, as
  amended (the &#8220;Investment Company Act&#8221;), having a maturity of&#160;<span id="xdx_909_ecustom--MaturityPeriodOfGovernmentSecurities_dtxL_c20210816__20210817_zt7UD9y7kaF" title="Maturity period of government securities::XDX::P185D"><span style="-sec-ix-hidden: xdx2ixbrl0243">185</span></span>&#160;days or less or in money market funds meeting certain
  conditions under Rule 2a-7 promulgated under the Investment Company Act which invest only in direct U.S. government treasury obligations.
  Except with respect to interest earned on the funds held in the Trust Account that may be released to the Company to pay income tax obligations,
  the proceeds from the IPO and the sale of the Private Shares will not be released from the Trust Account until the earlier of the completion
  of a Business Combination or the Company&#8217;s redemption of&#160;<span id="xdx_907_ecustom--RedemptionOutstandingPublicShares_dpxL_c20210816__20210817_zxiTKdCospd8" title="Redemption outstanding public shares"><span style="-sec-ix-hidden: xdx2ixbrl0245">100</span></span>% of the outstanding public shares if it has not completed a Business
  Combination in the required time period The proceeds held in the Trust Account may be used as consideration to pay the sellers of a target
  business with which the Company completes a Business Combination. Any amounts not paid as consideration to the sellers of the target business
  may be used to finance operations of the target business.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>The Company&#8217;s
  management has broad discretion with respect to the specific application of the net proceeds of the IPO and the sale of Private Shares,
  although substantially all of the net proceeds are intended to be applied generally toward consummating a Business Combination.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>The Company
  must complete one or more initial Business Combinations having an aggregate fair market value of at least&#160;<span id="xdx_907_ecustom--PercentageOfTrustAssetsForAcquisition_pid_dp_uPure_c20210816__20210817_zX4U2KLWNXW8" title="Percentage of trust assets for acquisition"><ix:nonFraction name="aaciu:PercentageOfTrustAssetsForAcquisition" contextRef="From2021-08-162021-08-17" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">80</ix:nonFraction></span>% of the value of the
  assets held in the trust account (as defined below) (excluding deferred underwriting commissions and taxes payable) at the time of the
  agreement to enter into the initial Business Combination. However, the Company will only complete a Business Combination if the post-transaction
  company owns or acquires&#160;<span id="xdx_90B_ecustom--PercentageOfOwnershipForAcquisition_pid_dp_uPure_c20210816__20210817_z19eofjtRVr8" title="Percentage of ownership for acquisition"><ix:nonFraction name="aaciu:PercentageOfOwnershipForAcquisition" contextRef="From2021-08-162021-08-17" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">50</ix:nonFraction></span>% 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 complete a Business Combination successfully.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>&#160;</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span></span></p>
  
  <ix:exclude><!-- Field: Page; Sequence: 8 -->
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      <div style="break-before: page; margin-top: 6pt"><table cellpadding="0" cellspacing="0" id="xdx_230_zu63gt4QKr9d" style="width: 100%"><tr><td style="font-size: 8pt; text-align: left; width: 100%"><i><a href="#TOC">Table of Contents</a></i></td></tr></table></div>
      <!-- Field: /Page --></ix:exclude>
  
  <ix:exclude><p id="xdx_232_zR2rMEgykb6g" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>&#160;</span></p></ix:exclude>
  
  <ix:exclude><p id="xdx_237_zaMHifoGNEa3" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p></ix:exclude>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>In connection
  with any proposed Business Combination, the Company will either (1) seek stockholders approval of the initial Business Combination at
  a meeting called for such purpose at which stockholders may seek to redeem their shares, regardless of whether they vote for or against
  the proposed Business Combination or don&#8217;t vote at all, into their pro rata share of the aggregate amount then on deposit in the
  Trust Account (net of taxes payable), or (2) provide its stockholders with the opportunity to sell their shares to the Company by means
  of a tender offer (and thereby avoid the need for a stockholder vote) for an amount equal to their pro rata share of the aggregate amount
  then on deposit in the Trust Account (net of taxes payable), in each case subject to the limitations described herein. The decision as
  to whether the Company will seek stockholders approval of a proposed Business Combination or will allow stockholders to sell their shares
  to the Company in a tender offer will be made by the Company, solely in its discretion.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>The shares of
  common stock subject to redemption are recorded at a redemption value and classified as temporary equity upon the completion of the IPO,
  in accordance with Accounting Standards Codification (&#8220;ASC&#8221;) Topic 480 &#8220;Distinguishing Liabilities from Equity.&#8221;
  In such case, the Company will proceed with a Business Combination if the Company has net tangible assets of at least $<span id="xdx_90F_ecustom--NetTangibleAssetsForAcquisition_iI_c20210817_z3MTsy8gknN5" title="Net tangible assets for acquisition"><ix:nonFraction name="aaciu:NetTangibleAssetsForAcquisition" contextRef="AsOf2021-08-17" format="ixt:numdotdecimal" decimals="0" unitRef="USD">5,000,001</ix:nonFraction></span>&#160;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.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>The Company
  will have&#160;<span id="xdx_905_ecustom--PeriodFromInitialPublicOfferingClosingToCompleteAcquisition_dtxL_c20210816__20210817_zbzSCnL5z8a7" title="Period from IPO closing to complete acquisition::XDX::P15M"><span style="-sec-ix-hidden: xdx2ixbrl0255">15</span></span>&#160;months (or&#160;<span id="xdx_902_ecustom--ExtendedPeriodFromInitialPublicOfferingClosingToCompleteAcquisition_dtxL_c20210816__20210817_zqrHr8K2Vgm8" title="Extended period from IPO closing to complete acquisition::XDX::P18M"><span style="-sec-ix-hidden: xdx2ixbrl0257">18</span></span>&#160;months if extended) from the closing of the IPO to complete the initial Business Combination
  (the &#8220;Combination Period&#8221;). However, if the Company is unable to complete the 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 ten business days thereafter, redeem&#160;<span id="xdx_90C_ecustom--PercentageOfPublicSharesToBeRedeemed_pid_dp_uPure_c20210816__20210817_zidRQMSw4Z3" title="Percentage of public shares to be redeemed"><ix:nonFraction name="aaciu:PercentageOfPublicSharesToBeRedeemed" contextRef="From2021-08-162021-08-17" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">100</ix:nonFraction></span>% of the outstanding public shares, at a per-share price, payable in cash, equal
  to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account and not
  previously released to the Company but net of taxes payable (and less up to $<span id="xdx_90E_ecustom--InterestAmountToPayDissolutionExpenses_iI_c20210817_zVhziRuyUUGj" title="Interest amount to pay dissolution expenses"><ix:nonFraction name="aaciu:InterestAmountToPayDissolutionExpenses" contextRef="AsOf2021-08-17" format="ixt:numdotdecimal" decimals="0" unitRef="USD">50,000</ix:nonFraction></span>&#160;of interest to pay dissolution expenses), divided
  by the number of then outstanding public shares, which redemption will completely extinguish public stockholders&#8217; rights as stockholders
  (including the right to receive further liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably
  possible following such redemption, subject to the approval of the Company&#8217;s remaining stockholders and the Company&#8217;s board
  of directors, liquidate and dissolve, subject (in the case of (ii) and (iii) above) to the Company&#8217;s obligations under Delaware
  law to provide for claims of creditors and the requirements of other applicable law.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>The Sponsor,
  officers and directors have agreed (i) to vote any shares owned by them in favor of any proposed Business Combination, (ii) not to redeem
  any shares in connection with a stockholder vote to approve a proposed initial Business Combination or sell any shares to the Company
  in a tender offer in connection with a proposed initial Business Combination, (iii) that the founders&#8217; shares will not participate
  in any liquidating distributions from the Company&#8217;s Trust Account upon winding up if a Business Combination is not consummated.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>The Sponsor
  has agreed that it will be liable to ensure that the proceeds in the Trust Account are not reduced below $<span id="xdx_901_ecustom--MinimumTrustProceedsPerShare_iI_pid_uUSDPShares_c20210817_zUxKr8lIJ5bi" title="Minimum trust proceeds per share"><ix:nonFraction name="aaciu:MinimumTrustProceedsPerShare" contextRef="AsOf2021-08-17" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">10.00</ix:nonFraction></span>&#160;per share by the
  claims of target businesses or claims of vendors or other entities that are owed money by the Company for services rendered or contracted
  for or products sold to the Company. The agreement to be entered into by the Sponsor will specifically provide for two exceptions to the
  indemnity it has given: it will have no liability (1) as to any claimed amounts owed to a target business or vendor or other entity who
  has executed an agreement with the Company waiving any right, title, interest or claim of any kind they may have in or to any monies held
  in the Trust Account, or (2) as to any claims for indemnification by the underwriters of the IPO against certain liabilities, including
  liabilities under the Securities Act. However, the Company has not asked its Sponsor to reserve for such indemnification obligations,
  nor has it independently verified whether the Sponsor has sufficient funds to satisfy its indemnity obligations and believe that the Sponsor&#8217;s
  only assets are securities of the Company. Therefore, the Company believes it is unlikely that the Sponsor will be able to satisfy its
  indemnification obligations if it is required to do so.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>&#160;</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span></span></p>
  
  <ix:exclude><!-- Field: Page; Sequence: 9 -->
      <div style="margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" id="xdx_234_zOVVEQ9G3qM7" style="width: 100%"><tr><td id="xdx_231_zT4JSfixWUZa" style="font-size: 10pt; text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence -->&#160;</td></tr></table></div>
      <div style="break-before: page; margin-top: 6pt"><table cellpadding="0" cellspacing="0" id="xdx_238_zTCgiBPzvimh" style="width: 100%"><tr><td style="font-size: 8pt; text-align: left; width: 100%"><i><a href="#TOC">Table of Contents</a></i></td></tr></table></div>
      <!-- Field: /Page --></ix:exclude>
  
  <ix:exclude><p id="xdx_234_zQTPBY21QPrj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>&#160;</span></p></ix:exclude>
  
  <ix:exclude><p id="xdx_23A_zNNn2yVLmaNg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>&#160;</span></p></ix:exclude>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify">On December 17, 2021, the Company entered
  into a business combination agreement, with Rezolve Limited (&#8220;<span style="text-decoration: underline">Rezolve</span>&#8221;), Rezolve Group Limited (&#8220;<span style="text-decoration: underline">Cayman NewCo</span>&#8221;),
  and Rezolve Merger Sub, Inc., (&#8220;<span style="text-decoration: underline">Rezolve Merger Sub</span>&#8221;) (such business combination agreement, the &#8220;<span style="text-decoration: underline">Business Combination
  Agreement</span>,&#8221; and such business combination, the &#8220;<span style="text-decoration: underline">Business Combination</span>&#8221;).</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">In connection with the execution
  of the definitive Business Combination Agreement, certain investors <span>have agreed to purchase an aggregate
  of <span id="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20211216__20211217__us-gaap--TypeOfArrangementAxis__custom--BusinessCombinationAgreementMember_zI51a9H02ZBi" title="Number of shares issued"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2021-12-162021-12-17_custom_BusinessCombinationAgreementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">2,050,000</ix:nonFraction></span> ordinary shares of Cayman NewCo</span> for the purchase price of $<span id="xdx_900_eus-gaap--SharesIssuedPricePerShare_iI_pid_c20211217__us-gaap--TypeOfArrangementAxis__custom--BusinessCombinationAgreementMember_zoCHC8MVAwai"><ix:nonFraction name="us-gaap:SharesIssuedPricePerShare" contextRef="AsOf2021-12-17_custom_BusinessCombinationAgreementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">10.00</ix:nonFraction></span> per share, for an aggregate purchase price of $<span id="xdx_909_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_dm_c20211216__20211217__us-gaap--TypeOfArrangementAxis__custom--BusinessCombinationAgreementMember_z56wqk6YyGs" title="Aggregate purchase price"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceOfPrivatePlacement" contextRef="From2021-12-162021-12-17_custom_BusinessCombinationAgreementMember" format="ixt:numdotdecimal" decimals="0" scale="6" unitRef="USD">20.5</ix:nonFraction>
  million</span> pursuant to certain subscription agreements (the &#8220;<span style="text-decoration: underline">Subscription Agreements</span>&#8221;). The obligations of each party
  under the subscription agreements are conditioned upon customary closing conditions and the consummation of the Business Combination.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>Concurrently
  with the execution and delivery of the Business Combination Agreement, Armada and the Key Company Shareholders (as defined in the Business
  Combination Agreement) have entered into the Transaction Support Agreement (the &#8220;</span><span style="text-decoration: underline">Transaction Support Agreement</span><span>&#8221;),
  pursuant to which, among other things, the Key Company Shareholders have agreed to (a) enter into the transfer and exchange agreement
  in order to effect the Company Reorganization, (b) vote in favor of the Business Combination Agreement and the agreements contemplated
  thereby and the transactions contemplated hereby, (c) enter into an Investor Rights Agreement at Closing and (d) the termination of certain
  agreements effective as of Closing.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span><b><i>Liquidity
  and Going Concern</i></b></span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="color: #252525; background-color: white">The
  accompanying financial statements have been prepared assuming the Company will continue as a&#160;</span><span>going<span style="color: #252525">&#160;</span>concern<span style="color: #252525">,
  which contemplates, among other things, the realization of assets and satisfaction of liabilities in the normal course of business.&#160;</span></span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>As of December
  31, 2021, the Company had $<span id="xdx_900_eus-gaap--Cash_iI_c20211231_zGstvmUYmFK6" title="Cash"><ix:nonFraction name="us-gaap:Cash" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">419,700</ix:nonFraction></span> its operating account and working capital deficiency of $<span id="xdx_90B_ecustom--WorkingCapitalDeficit_iI_c20211231_zbxwzgfuVF44" title="Working capital deficit"><ix:nonFraction name="aaciu:WorkingCapitalDeficit" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,101,570</ix:nonFraction></span>.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>In order to
  finance transaction costs in connection with a Business Combination, the Company&#8217;s Sponsor or an affiliate of the Sponsor or certain
  of the Company&#8217;s officers and directors may, but are not obligated to, provide the Company with Working Capital Loans, as defined
  below (see Note 5). As of December 31, 2021, there were no amounts outstanding under any Working Capital Loans.&#160;<span style="color: #252525">The
  Company has incurred and expects to continue to incur significant costs in pursuit of its acquisition plans.</span></span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>The
  Company&#8217;s liquidity needs to date have been satisfied through the $<span id="xdx_904_eus-gaap--InvestmentSoldNotYetPurchasedSaleProceeds_c20211001__20211231__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zdcawmEl3n1" title="Proceeds receved"><ix:nonFraction name="us-gaap:InvestmentSoldNotYetPurchasedSaleProceeds" contextRef="From2021-10-012021-12-31_us-gaap_IPOMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">36,045</ix:nonFraction></span>&#160;proceeds received from the sale of its Founder Shares
  (as defined below) to the Sponsor, the advances of $<span id="xdx_90C_eus-gaap--SponsorFees_c20211001__20211231__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zhQx3vQ8lt5i" title="Sponsor fees"><ix:nonFraction name="us-gaap:SponsorFees" contextRef="From2021-10-012021-12-31_us-gaap_IPOMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">230,352</ix:nonFraction></span>&#160;from the Sponsor to cover the Company&#8217;s offering costs in connection
  with the IPO, and the net proceeds from the consummation of the Private Placement not held in the Trust Account. The balance of the advances
  from Sponsor was fully repaid on August 17, 2021.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>In
  connection with the Company&#8217;s assessment of&#160;going&#160;concern&#160;considerations in accordance with FASB Accounting Standards
  Update (&#8220;ASU&#8221;) 2014-15, &#8220;Disclosures of Uncertainties about an Entity&#8217;s Ability to Continue as a&#160;Going&#160;Concern,&#8221;
  management has determined that the Company has and will continue to incur significant costs in pursuit of its acquisition plans which
  raises substantial doubt about the Company&#8217;s ability to continue as a&#160;going&#160;concern. No adjustments have been made to
  the carrying amounts of assets or liabilities should the Company be required to liquidate after November 17, 2022. The financial statements
  do not include any adjustment that might be necessary if the Company is unable to continue as a&#160;going&#160;concern.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span><b><i>Risks
  and Uncertainties</i></b></span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>Management is
  continuing to evaluate the impact of the COVID-19 pandemic on the industry and has concluded that while it is reasonably possible that
  the pandemic could have a negative effect on the Company&#8217;s financial position, results of its operations and/or that of Rezolve&#8217;s
  or any other target company, the specific impact is not readily determinable as of the date of these unaudited condensed financial statements.
  The financial statements do not include any adjustments that might result from the outcome of this uncertainty.</span></p>
  
  </ix:nonNumeric><p id="xdx_813_zf6gojThqvb8" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>&#160;</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span></span></p>
  
  <!-- Field: Page; Sequence: 10 -->
      <div style="margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" id="xdx_23B_zGHfeYpsals6" style="width: 100%"><tr><td id="xdx_23A_zi0xCKMaFfMg" style="font-size: 10pt; text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence -->&#160;</td></tr></table></div>
      <div style="break-before: page; margin-top: 6pt"><table cellpadding="0" cellspacing="0" id="xdx_230_zZ8WrebaIOub" style="width: 100%"><tr><td style="font-size: 8pt; text-align: left; width: 100%"><i><a href="#TOC">Table of Contents</a></i></td></tr></table></div>
      <!-- Field: /Page -->
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>&#160;</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>
  <ix:nonNumeric contextRef="From2021-10-01to2021-12-31" escape="true" name="us-gaap:SignificantAccountingPoliciesTextBlock"><p id="xdx_80A_eus-gaap--SignificantAccountingPoliciesTextBlock_zO7rvuZSaTm" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span><b>Note 2 &#8212;&#160;<span id="xdx_821_z3C7BQdZQ4y">Significant
  Accounting Policies</span></b></span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <ix:nonNumeric contextRef="From2021-10-01to2021-12-31" escape="true" name="us-gaap:BasisOfAccountingPolicyPolicyTextBlock"><p id="xdx_841_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_zezn0ip4wnY3" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span><b><i><span id="xdx_86B_zIEbnT4Q40xg">Basis
  of Presentation</span></i></b></span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>The accompanying
  unaudited condensed financial statements are presented in conformity with accounting principles generally accepted in the United States
  of America (&#8220;US GAAP&#8221;) and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (&#8220;SEC&#8221;).
  Accordingly, they do not include all of the information and footnotes required by US GAAP. In the opinion of management, the unaudited
  condensed financial statements reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement
  of the balances and results for the period presented. Operating results for the three months ended December 31, 2021 are not necessarily
  indicative of the results that may be expected through September 30, 2022.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>The accompanying
  unaudited condensed financial statements should be read in conjunction with the Company&#8217;s Annual Report on Form 10-K, as filed with
  SEC on December 29, 2021.&#160;</span></p>
  
  </ix:nonNumeric><p id="xdx_853_zvBRWUxKQRn6" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>&#160;</i></b></p>
  
  <ix:nonNumeric contextRef="From2021-10-01to2021-12-31" escape="true" name="aaciu:EmergingGrowthCompanyStatusPolicyTextBlock"><p id="xdx_849_ecustom--EmergingGrowthCompanyStatusPolicyTextBlock_zkXU1qETJn92" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span><b><i><span id="xdx_863_zpkPhixlmRMd">Emerging
  Growth Company Status</span></i></b></span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>The Company
  is an &#8220;emerging growth company,&#8221; as defined in Section 2(a) of the Securities Act of 1933, as amended, (the &#8220;Securities
  Act&#8221;), as modified by the Jumpstart the Business Startups Act of 2012, (the &#8220;JOBS Act&#8221;), and it may take advantage of
  certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies
  including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley
  Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from
  the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments
  not previously approved.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>Further, Section
  102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards
  until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a
  class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards.
  The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply
  to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended
  transition period which means that when a standard is issued or revised and it has different application dates for public or private companies,
  the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised
  standard. This may make comparison of the Company&#8217;s financial statements with another public company which is neither an emerging
  growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because
  of the potential differences in accounting standards used.</span></p>
  
  </ix:nonNumeric><p id="xdx_85F_z46zCrXZLKC8" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <ix:nonNumeric contextRef="From2021-10-01to2021-12-31" escape="true" name="us-gaap:UseOfEstimates"><p id="xdx_84D_eus-gaap--UseOfEstimates_zwTUeWv2uawi" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span><b><i><span id="xdx_869_zr3BBbGmk3n">Use of
  Estimates</span></i></b></span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>The preparation
  of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts
  of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported
  amounts of expenses during the reporting period. Actual results could differ from those estimates.</span></p>
  
  </ix:nonNumeric><p id="xdx_851_zZDRsMTPAM21" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <ix:exclude><p id="xdx_23A_zK2v1HY7Z8hl" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b><i>&#160;</i></b></p></ix:exclude>
  
  <ix:exclude><p id="xdx_23C_ztBQFKTeMkGj" style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p></ix:exclude>
  
  <ix:nonNumeric contextRef="From2021-10-01to2021-12-31" escape="true" name="us-gaap:CashAndCashEquivalentsPolicyTextBlock"><p id="xdx_84E_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_zf4DEkqobyWd" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span><b><i><span id="xdx_864_zX1my1RmZxLa">Cash and Cash Equivalents</span></i></b></span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>The Company
  considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company
  had $<span id="xdx_90F_eus-gaap--Cash_iI_c20211231_zgzHBhH6yjwd" title="Cash"><ix:nonFraction name="us-gaap:Cash" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">419,700</ix:nonFraction></span>&#160;in cash and&#160;cash and cash equivalents investments of $<span id="xdx_901_eus-gaap--CashEquivalentsAtCarryingValue_iI_do_c20211231_zzg3pkV4Qjob" title="Cash and cash equivalents investments"><ix:nonFraction name="us-gaap:CashEquivalentsAtCarryingValue" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">150,003,896</ix:nonFraction></span> in its Trust Account as of December 31, 2021.</span></p>
  
  </ix:nonNumeric><p id="xdx_850_zXi0fwBnMz45" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>&#160;</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span></span></p>
  
  <ix:exclude><!-- Field: Page; Sequence: 11 -->
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  <ix:exclude><p id="xdx_233_zle1bkAzKUvd" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>&#160;</span></p></ix:exclude>
  
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  are presented on the balance sheets at fair value at the end of each reporting period. Gains and losses resulting from the change in fair
  value of these securities is included in gain on Investments Held in Trust Account in the accompanying statement of operations. The estimated
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  <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <tr>
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      <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets;</span></td></tr>
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  <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    </table>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>
  
  <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <tr>
      <td style="width: 24px; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt">&#160;</td>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>
  
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  instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that
  is significant to the fair value measurement.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>The fair value
  of certain of the Company&#8217;s assets and liabilities, which qualify as financial instruments under ASC 820, &#8220;Fair Value Measurements
  and Disclosures,&#8221; approximates the carrying amounts represented in the balance sheet. The fair values of cash, prepaid expenses,
  accrued offering costs and expenses, and amounts due to related parties are estimated to approximate the carrying values as of December
  31, 2021 due to the short maturities of such instruments.</span></p>
  
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  times, may exceed the Federal Depository Insurance Corporation limit of $<span id="xdx_904_eus-gaap--FederalDepositInsuranceCorporationPremiumExpense_c20211001__20211231_z7qU64f74pOk" title="Exceed limit"><ix:nonFraction name="us-gaap:FederalDepositInsuranceCorporationPremiumExpense" contextRef="From2021-10-01to2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">250,000</ix:nonFraction></span>. At December 31, 2021, the Company has not experienced
  losses on this account and management believes the Company is not exposed to significant risks on such account.</span></p>
  
  </ix:nonNumeric><p id="xdx_85A_zOiTfcv7hTg" style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p>
  
  <ix:exclude><!-- Field: Page; Sequence: 12 -->
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      <div style="break-before: page; margin-top: 6pt"><table cellpadding="0" cellspacing="0" id="xdx_23B_znrxmy3dkbr4" style="width: 100%"><tr><td style="font-size: 8pt; text-align: left; width: 100%"><i><a href="#TOC">Table of Contents</a></i></td></tr></table></div>
      <!-- Field: /Page --></ix:exclude>
  
  <ix:exclude><p id="xdx_237_zF6fOKiEN4sa" style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p></ix:exclude>
  
  <ix:exclude><p id="xdx_237_zewi2YY4kcge" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>&#160;</i></b></p></ix:exclude>
  
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
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  complies with the requirements of ASC 340-10-S99-1 and SEC Staff Accounting Bulletin Topic 5A&#8212;&#8220;Expenses of Offering&#8221;.
  Offering costs consist of legal, accounting, underwriting and other costs incurred through the balance sheet date that are related to
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  </ix:nonNumeric><p id="xdx_854_z0f6yYHiXa2a" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
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  from Equity.&#8221; Common stock subject to mandatory redemption (if any) are classified as a liability instrument and measured at fair
  value. Conditionally redeemable common stock (including common stock that feature redemption rights that are either within the control
  of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company&#8217;s control) are classified
  as temporary equity. At all other times, common stock are classified as stockholders&#8217; equity. The Company&#8217;s shares of common
  stock feature certain redemption rights that are considered to be outside of the Company&#8217;s control and subject to the occurrence
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  is computed by dividing net loss by the weighted average number of common stock outstanding for the period. Remeasurement adjustments
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      <div style="break-before: page; margin-top: 6pt"><table cellpadding="0" cellspacing="0" id="xdx_23B_zYqJs3k37sy3" style="width: 100%"><tr><td style="font-size: 8pt; text-align: left; width: 100%"><i><a href="#TOC">Table of Contents</a></i></td></tr></table></div>
      <!-- Field: /Page --></ix:exclude>
  
  <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&#160;</p>
  
  <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <tr style="vertical-align: bottom; background-color: white">
      <td style="padding-left: 8.15pt">&#160;</td>
      <td>&#160;</td>
      <td>&#160;</td>
      <td style="text-align: right">&#160;</td>
      <td>&#160;</td>
      <td>&#160;</td>
      <td>&#160;</td>
      <td style="text-align: right">&#160;</td>
      <td>&#160;</td></tr>
    <tr style="vertical-align: bottom; background-color: white">
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      <td>&#160;</td>
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      <td colspan="5" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the three months ended December 31, 2021</span></td>
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    <tr style="vertical-align: bottom; background-color: white">
      <td style="padding-left: 5.4pt; text-align: center">&#160;</td>
      <td style="text-align: center">&#160;</td>
      <td style="text-align: center">&#160;</td>
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      <td>&#160;</td>
      <td>&#160;</td>
      <td style="text-align: right">&#160;</td>
      <td>&#160;</td>
      <td>&#160;</td>
      <td>&#160;</td>
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      <td>&#160;</td>
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    <tr style="vertical-align: bottom; background-color: white">
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      <td>&#160;</td>
      <td>&#160;</td>
      <td style="text-align: right">&#160;</td>
      <td>&#160;</td>
      <td>&#160;</td>
      <td>&#160;</td>
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      <td>&#160;</td>
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      <td>&#160;</td>
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    <tr style="vertical-align: bottom; background-color: white">
      <td style="padding-left: 17.15pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Weighted-average shares outstanding</span></td>
      <td>&#160;</td>
      <td>&#160;</td>
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      <td>&#160;</td>
      <td>&#160;</td>
      <td>&#160;</td>
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      <td>&#160;</td></tr>
    <tr style="vertical-align: bottom; background-color: #CCEEFF">
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      <td>&#160;</td>
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      <td>&#160;</td>
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  </ix:nonNumeric><p id="xdx_8AB_zKpBAmkyzAHf" style="margin-top: 0; margin-bottom: 0">&#160;</p>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>The Company
  accounts for income taxes under ASC 740 Income Taxes (&#8220;ASC 740&#8221;). ASC 740 requires the recognition of deferred tax assets
  and liabilities for both the expected impact of differences between the financial statement and tax basis of assets and liabilities and
  for the expected future tax benefit to be derived from tax loss and tax credit carry forwards. ASC 740 additionally requires a valuation
  allowance to be established when it is more likely than not that all or a portion of deferred tax assets will not be realized.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>ASC 740 also
  clarifies the accounting for uncertainty in income taxes recognized in an enterprise&#8217;s financial statements and prescribes a recognition
  threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken
  in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by
  taxing authorities. ASC 740 also provides guidance on derecognition, classification, interest and penalties, accounting in interim period,
  disclosure and transition.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>The Company
  recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits
  and no amounts accrued for interest and penalties as of December 31, 2021. The Company is currently not aware of any issues under review
  that could result in significant payments, accruals or material deviation from its position.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>The Company
  has identified the United States as its only &#8220;major&#8221; tax jurisdiction.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>The Company
  may be subject to potential examination by federal and state taxing authorities in the areas of income taxes since inception. These potential
  examinations may include questioning the timing and amount of deductions, the nexus of income among various tax jurisdictions and compliance
  with federal and state tax laws. The Company&#8217;s management does not expect that the total amount of unrecognized tax benefits will
  materially change over the next twelve months.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span>&#160;&#160;</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>The provision
  for income taxes was deemed to be immaterial for the three months ended December 31, 2021.</span></p>
  
  </ix:nonNumeric><p id="xdx_858_z0OEXXuPbX27" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <ix:nonNumeric contextRef="From2021-10-01to2021-12-31" escape="true" name="us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock"><p id="xdx_846_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zyNwdJxofPha" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span><b><i><span id="xdx_86B_zKdPrmjUfy9h">Recent
  Accounting Pronouncements</span></i></b></span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>In August 2020,
  the Financial Accounting Standards Board (&#8220;FASB&#8221;) issued Accounting Standards Update (&#8220;ASU&#8221;) 2020-06, Debt &#8212;
  Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging &#8212; Contracts in Entity&#8217;s Own Equity (Subtopic
  815-40) (&#8220;ASU 2020-06&#8221;) to simplify accounting for certain financial instruments. ASU 2020-06 eliminates the current models
  that require separation of beneficial conversion and cash conversion features from convertible instruments and simplifies the derivative
  scope exception guidance pertaining to equity classification of contracts in an entity&#8217;s own equity. The new standard also introduces
  additional disclosures for convertible debt and freestanding instruments that are indexed to and settled in an entity&#8217;s own equity.
  ASU 2020-06 amends the diluted earnings per share guidance, including the requirement to use the if-converted method for all convertible
  instruments. ASU 2020-06 is effective January 1, 2022 and should be applied on a full or modified retrospective basis, with early adoption
  permitted beginning on January 1, 2021. The Company is currently assessing the impact, if any, that ASU 2020-06 would have on its financial
  position, results of operations or cash flows.</span></p>
  
  <ix:exclude><p id="xdx_23B_zCMrlS043Oqk" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>&#160;</span></p></ix:exclude>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span></span></p>
  
  <ix:exclude><!-- Field: Page; Sequence: 14 -->
      <div style="margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" id="xdx_23D_zvuH9ejB81zj" style="width: 100%"><tr><td id="xdx_230_ztP5na0hCaZg" style="font-size: 10pt; text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence -->&#160;</td></tr></table></div>
      <div style="break-before: page; margin-top: 6pt"><table cellpadding="0" cellspacing="0" id="xdx_238_zkXmNra8YF9l" style="width: 100%"><tr><td style="font-size: 8pt; text-align: left; width: 100%"><i><a href="#TOC">Table of Contents</a></i></td></tr></table></div>
      <!-- Field: /Page --></ix:exclude>
  
  <ix:exclude><p id="xdx_236_z3oo0ZRycml4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>&#160;</span></p></ix:exclude>
  
  <ix:exclude><p id="xdx_230_zoE8wNb5g4t3" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p></ix:exclude>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>Management does
  not believe that any recently issued, but not effective, accounting pronouncements, if currently adopted, would have a material effect
  on the Company&#8217;s unaudited condensed financial statements.</span></p>
  
  </ix:nonNumeric><p id="xdx_851_z6P0jve7J6B3" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <ix:nonNumeric contextRef="From2021-10-01to2021-12-31" escape="true" name="us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy"><p id="xdx_84B_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_z24qgwZW7IU6" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span><b><i><span id="xdx_862_zB28yTHOYBG3">Stock
  Based Compensation</span></i></b></span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>On June 16,
  2021, the Sponsor transferred&#160;<span id="xdx_904_eus-gaap--ConversionOfStockSharesConverted1_c20210615__20210616__srt--TitleOfIndividualAxis__srt--PresidentMember_zL58s8t4IOZ2" title="Shares of common stock transferred"><ix:nonFraction name="us-gaap:ConversionOfStockSharesConverted1" contextRef="From2021-06-152021-06-16_srt_PresidentMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">50,000</ix:nonFraction></span>&#160;shares to each of its Chief Executive Officer and to its President and&#160;<span id="xdx_901_eus-gaap--ConversionOfStockSharesConverted1_c20210615__20210616__srt--TitleOfIndividualAxis__srt--DirectorMember_zKp6fZCZ3He3" title="Shares of common stock transferred"><ix:nonFraction name="us-gaap:ConversionOfStockSharesConverted1" contextRef="From2021-06-152021-06-16_srt_DirectorMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">35,000</ix:nonFraction></span>&#160;shares
  to each of its&#160;<span id="xdx_90D_ecustom--NumberOfIndependentDirectors_dxL_c20210615__20210616__srt--TitleOfIndividualAxis__srt--DirectorMember_zv3D6wvfmXUi" title="Number of independent directors::XDX::3"><span style="-sec-ix-hidden: xdx2ixbrl0350">three</span></span>&#160;independent directors. The aggregate fair value of these shares was $<span id="xdx_90D_eus-gaap--ConversionOfStockAmountConverted1_c20210615__20210616_zyTNSr5bbpBd" title="Fair value of converted shares"><ix:nonFraction name="us-gaap:ConversionOfStockAmountConverted1" contextRef="From2021-06-152021-06-16" format="ixt:numdotdecimal" decimals="0" unitRef="USD">509,552</ix:nonFraction></span>&#160;at issuance. For the
  three months ended December 31, 2021,&#160;$<span id="xdx_909_eus-gaap--AllocatedShareBasedCompensationExpense_do_c20211001__20211231_zRYU5U8I8Lsf" title="Compensation expense"><ix:nonFraction name="us-gaap:AllocatedShareBasedCompensationExpense" contextRef="From2021-10-01to2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">27,963</ix:nonFraction></span> compensation expense was recognized related to these shares that were vested.</span></p>
  
  </ix:nonNumeric><p id="xdx_858_zrnSZHLZRMOk" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>&#160;</span></p>
  
  </ix:nonNumeric><p id="xdx_81B_zAVhfm5AiO79" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>&#160;</span>&#160;</p>
  <ix:nonNumeric contextRef="From2021-10-01to2021-12-31" escape="true" name="aaciu:InitialPublicOfferingTextBlock"><p id="xdx_804_ecustom--InitialPublicOfferingTextBlock_zlQKksSQbgGe" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span><b>Note 3 &#8212;&#160;<span id="xdx_82A_znRbuqMnDOZ4">Initial
  Public Offering</span></b></span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>On August 17,
  2021, the Company consummated its IPO of&#160;<span id="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210816__20210817__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__custom--UnitsMember_z6eTxR1EANfa" title="Number of shares issued"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2021-08-162021-08-17_us-gaap_IPOMember_custom_UnitsMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">15,000,000</ix:nonFraction></span>&#160;Units, at a price of $<span id="xdx_90D_eus-gaap--SharesIssuedPricePerShare_iI_c20210817__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__custom--UnitsMember_znvAtOHCl4sb" title="Price per share"><ix:nonFraction name="us-gaap:SharesIssuedPricePerShare" contextRef="AsOf2021-08-17_us-gaap_IPOMember_custom_UnitsMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">10.00</ix:nonFraction></span>&#160;per Unit.&#160;<span id="xdx_906_eus-gaap--SaleOfStockDescriptionOfTransaction_c20210816__20210817__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__custom--UnitsMember_zOxyELvr64Gd" title="Description of units"><ix:nonNumeric contextRef="From2021-08-162021-08-17_us-gaap_IPOMember_custom_UnitsMember" name="us-gaap:SaleOfStockDescriptionOfTransaction">Each Unit consists of one
  share of common stock and one-half of one redeemable warrant.</ix:nonNumeric></span> Each whole warrant entitles the holder to purchase one share of common stock
  at a price of $<span id="xdx_900_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20210817__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__custom--UnitsMember_zx5uXDg9zqL2" title="Warrant exercise price"><ix:nonFraction name="us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1" contextRef="AsOf2021-08-17_us-gaap_IPOMember_custom_UnitsMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">11.50</ix:nonFraction></span>&#160;per share, subject to adjustment. Only whole warrants are exercisable. No fractional warrants will be issued
  upon separation of the units and only whole warrants will trade.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>The warrants
  will become exercisable&#160;<span id="xdx_903_ecustom--WarrantExercisablePeriodAfterBusinessCombination_dxL_c20210816__20210817__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__custom--UnitsMember_zOpeEDNx5Dq9" title="Warrant exercisable period after business combination::XDX::P30D"><span style="-sec-ix-hidden: xdx2ixbrl0366">30</span></span>&#160;days after the completion of the initial Business Combination, and will expire&#160;<span id="xdx_90F_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dxL_c20210817__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__custom--UnitsMember_zQxXKlfzhBai" title="Warrant expiration period::XDX::P5Y"><span style="-sec-ix-hidden: xdx2ixbrl0368">five</span></span> years&#160;after
  the completion of the initial Business Combination or earlier upon redemption or liquidation (see Note 7).</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 20pt; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>Following the
  closing of the IPO and settlement of funds on August 17, 2021, $<span id="xdx_90B_eus-gaap--AssetsHeldInTrust_iI_dxL_c20210817_ztaYj7G2kSK3" title="Proceeds held in trust account"><span style="-sec-ix-hidden: xdx2ixbrl0370">150,000,000</span></span>&#160;($<span id="xdx_908_ecustom--TrustAssetsValuePerShare_iI_dxL_c20210817_z8kJwl32Fzdh" title="Trust assets value per unit"><span style="-sec-ix-hidden: xdx2ixbrl0372">10.00</span></span>&#160;per Unit) from the net proceeds of the sale
  of the Units in the IPO and the sales of Private Shares was placed in the Trust Account and was invested only in U.S. government treasury
  obligations with a maturity of&#160;<span id="xdx_908_ecustom--MaturityPeriodOfGovernmentSecurities_dxL_c20210816__20210817_zeZmQv0PENK6" title="Maturity period of government securities::XDX::P185D"><span style="-sec-ix-hidden: xdx2ixbrl0374">185</span></span>&#160;days or less or in money market funds meeting certain conditions under Rule 2a-7 under the
  Investment Company Act which invest only in direct U.S. government treasury obligations.</span></p>
  
  </ix:nonNumeric><p id="xdx_811_z76fOM9lf1dg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>
  <ix:nonNumeric contextRef="From2021-10-01to2021-12-31" escape="true" name="aaciu:PrivatePlacementTextBlock"><p id="xdx_802_ecustom--PrivatePlacementTextBlock_zoZm9JsfUwcc" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span><b>Note 4 &#8212;&#160;<span id="xdx_82D_z9jgUX9tFgah">Private
  Placement</span></b></span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>Simultaneously
  with the closing of the IPO, the Company&#8217;s Sponsor purchased an aggregate of&#160;<span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210816__20210817__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--StatementClassOfStockAxis__custom--PrivateSharesMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAggregateMember_zXDtVBenZgY9" title="Common stock issued to sponsor, shares"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2021-08-162021-08-17_us-gaap_PrivatePlacementMember_custom_PrivateSharesMember_custom_PurchaseAggregateMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">459,500</ix:nonFraction></span>&#160;Private Shares, at a price of $<span id="xdx_903_eus-gaap--SharesIssuedPricePerShare_iI_c20210817__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--StatementClassOfStockAxis__custom--PrivateSharesMember_z9z3l16Q6LLi" title="Price per share"><ix:nonFraction name="us-gaap:SharesIssuedPricePerShare" contextRef="AsOf2021-08-17_us-gaap_PrivatePlacementMember_custom_PrivateSharesMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">10.00</ix:nonFraction></span>&#160;per
  Private Share, for an aggregate purchase price of $<span id="xdx_905_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_dxL_c20210816__20210817__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--StatementClassOfStockAxis__custom--PrivateSharesMember_zTFuW5xkXYTj" title="Aggregate purchase price"><span style="-sec-ix-hidden: xdx2ixbrl0382">4,595,500</span></span>&#160;in a private placement. The proceeds from the sale of the Private Shares
  was added to the proceeds of the IPO and placed in a U.S.-based trust account. If the Company does not complete an initial Business Combination
  within 15 months (or 18 months if extended) from the closing of the IPO, the proceeds from the sale of the Private Shares will be included
  in the liquidating distribution to the public stockholders and the Private Shares will be worthless.</span></p>
  
  </ix:nonNumeric><p id="xdx_81B_zhd6APdh9wS7" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>
  <ix:nonNumeric contextRef="From2021-10-01to2021-12-31" escape="true" name="us-gaap:RelatedPartyTransactionsDisclosureTextBlock"><p id="xdx_801_eus-gaap--RelatedPartyTransactionsDisclosureTextBlock_z0diy0WNuTi8" style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span><b>Note
  5 &#8212;&#160;<span id="xdx_82A_z5aymKlWjPrj">Related Party Transactions</span></b></span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span><b><i>Founder
  Shares</i></b></span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>On February
  3, 2021, the Sponsor paid $<span id="xdx_903_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20210202__20210203__us-gaap--StatementClassOfStockAxis__custom--FounderSharesMember_zRCMhpL099L2" title="Value of shares issued"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueNewIssues" contextRef="From2021-02-022021-02-03_custom_FounderSharesMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">25,000</ix:nonFraction></span>, or approximately $<span id="xdx_905_eus-gaap--SharesIssuedPricePerShare_iI_c20210203__us-gaap--StatementClassOfStockAxis__custom--FounderSharesMember_z1zvM9FQUyE7" title="Price per share"><ix:nonFraction name="us-gaap:SharesIssuedPricePerShare" contextRef="AsOf2021-02-03_custom_FounderSharesMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.006</ix:nonFraction></span>&#160;per share, to cover certain offering costs in consideration for&#160;<span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210202__20210203__us-gaap--StatementClassOfStockAxis__custom--FounderSharesMember_z6Xs6as4IvA1" title="Number of shares issued"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2021-02-022021-02-03_custom_FounderSharesMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">4,312,500</ix:nonFraction></span>&#160;shares
  of common stock, par value $<span id="xdx_90E_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20210203__us-gaap--StatementClassOfStockAxis__custom--FounderSharesMember_zarrTCUCFTxk" title="Common stock, par value"><ix:nonFraction name="us-gaap:CommonStockParOrStatedValuePerShare" contextRef="AsOf2021-02-03_custom_FounderSharesMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.0001</ix:nonFraction></span>. On June 16, 2021, the Sponsor purchased an additional&#160;<span id="xdx_903_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210615__20210616__us-gaap--StatementClassOfStockAxis__custom--FounderSharesMember_zx8eaxveF1lj"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2021-06-152021-06-16_custom_FounderSharesMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">700,000</ix:nonFraction></span>&#160;shares of common stock at
  a purchase price of $<span id="xdx_90F_eus-gaap--SharesIssuedPricePerShare_iI_c20210616__us-gaap--StatementClassOfStockAxis__custom--FounderSharesMember_zShj6jnYTUZ3"><ix:nonFraction name="us-gaap:SharesIssuedPricePerShare" contextRef="AsOf2021-06-16_custom_FounderSharesMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.006</ix:nonFraction></span>&#160;per share, or an aggregate $<span id="xdx_900_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_c20210615__20210616__us-gaap--StatementClassOfStockAxis__custom--FounderSharesMember_ztudtrmRqVMk" title="Aggregate purchase price"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceOfPrivatePlacement" contextRef="From2021-06-152021-06-16_custom_FounderSharesMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">4,070</ix:nonFraction></span>, and transferred&#160;<span id="xdx_902_eus-gaap--ConversionOfStockSharesConverted1_c20210615__20210616__srt--TitleOfIndividualAxis__srt--PresidentMember_zZKerfnFAMb8"><ix:nonFraction name="us-gaap:ConversionOfStockSharesConverted1" contextRef="From2021-06-152021-06-16_srt_PresidentMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">50,000</ix:nonFraction></span>&#160;shares to its Chief Executive Officer
  and to its President and&#160;<span id="xdx_904_eus-gaap--ConversionOfStockSharesConverted1_c20210615__20210616__srt--TitleOfIndividualAxis__srt--DirectorMember_zClPowfSPA18"><ix:nonFraction name="us-gaap:ConversionOfStockSharesConverted1" contextRef="From2021-06-152021-06-16_srt_DirectorMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">35,000</ix:nonFraction></span>&#160;shares to each of its&#160;<span id="xdx_905_ecustom--NumberOfIndependentDirectors_dxL_uN_c20210615__20210616__srt--TitleOfIndividualAxis__srt--DirectorMember_zyXQ5RpLagv2" title="Number of independent directors::XDX::3"><span style="-sec-ix-hidden: xdx2ixbrl0400">three</span></span>&#160;independent directors. On July 23, 2021, the Sponsor purchased
  an additional&#160;<span id="xdx_907_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210722__20210723__us-gaap--StatementClassOfStockAxis__custom--FounderSharesMember_zvqDSLSINujh"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2021-07-222021-07-23_custom_FounderSharesMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,200,000</ix:nonFraction></span>&#160;shares of common stock at a purchase price of $<span id="xdx_90F_eus-gaap--SharesIssuedPricePerShare_iI_c20210723__us-gaap--StatementClassOfStockAxis__custom--FounderSharesMember_zLgtPs8dz2ah"><ix:nonFraction name="us-gaap:SharesIssuedPricePerShare" contextRef="AsOf2021-07-23_custom_FounderSharesMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.006</ix:nonFraction></span>&#160;per share, or an aggregate $<span id="xdx_90C_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_c20210722__20210723__us-gaap--StatementClassOfStockAxis__custom--FounderSharesMember_zxXWS9nETYHj"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceOfPrivatePlacement" contextRef="From2021-07-222021-07-23_custom_FounderSharesMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">6,975</ix:nonFraction></span>, resulting
  in the Sponsor holding an aggregate of&#160;<span id="xdx_901_eus-gaap--CommonStockOtherSharesOutstanding_iI_c20210723__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_z5vAfJ1YHyP7"><ix:nonFraction name="us-gaap:CommonStockOtherSharesOutstanding" contextRef="AsOf2021-07-23_srt_ChiefExecutiveOfficerMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">6,007,500</ix:nonFraction></span>&#160;shares of common stock and the Chief Executive Officer, President and independent
  directors holding an aggregate of&#160;<span id="xdx_90F_eus-gaap--CommonStockOtherSharesOutstanding_iI_c20210723__us-gaap--StatementClassOfStockAxis__custom--FounderSharesMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ChiefExecutiveOfficerPresidentAndIndependentDirectorsMember_z0QNKv8PCXmf"><ix:nonFraction name="us-gaap:CommonStockOtherSharesOutstanding" contextRef="AsOf2021-07-23_custom_FounderSharesMember_custom_ChiefExecutiveOfficerPresidentAndIndependentDirectorsMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">205,000</ix:nonFraction></span>&#160;shares of common stock (such shares, collectively, the &#8220;Founder Shares&#8221;).
  The Founder Shares included an aggregate of up to&#160;<span id="xdx_903_eus-gaap--CommonStockOtherSharesOutstanding_iI_c20211231_zpGrxytmmTzk"><ix:nonFraction name="us-gaap:CommonStockOtherSharesOutstanding" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,125,000</ix:nonFraction></span>&#160;shares subject to forfeiture by the Sponsor to the extent that the
  underwriters&#8217; over-allotment option was not exercised in full or in part. On October 1, 2021 the underwriters&#8217; over-allotment
  option expired unused resulting in&#160;<span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_c20211001__20211002__us-gaap--StatementClassOfStockAxis__custom--FounderSharesMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zzas3qYtvQfg" title="Underwriters&apos; over-allotment option expired"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod" contextRef="From2021-10-012021-10-02_custom_FounderSharesMember_us-gaap_OverAllotmentOptionMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,125,000</ix:nonFraction></span>&#160;founder shares forfeited to the Company for no consideration.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>The Sponsor,
  officers and directors have agreed not to transfer, assign or sell any Founder Shares held by them until the earliest of (A)&#160;<span id="xdx_903_ecustom--PeriodAfterBusinessCombinationForTransferOfShares_dxL_c20211001__20211231__us-gaap--StatementClassOfStockAxis__custom--FounderSharesMember_zLGjHuI3dnUf" title="Period after business combination for transfer of shares::XDX::P180D"><span style="-sec-ix-hidden: xdx2ixbrl0410">180</span></span>&#160;days
  after the completion of the initial Business Combination and (B) subsequent to the initial Business Combination, the date on which the
  Company completes a liquidation, merger, stock exchange, reorganization or other similar transaction that results in all of the public
  stockholders having the right to exchange their public shares for cash, securities or other property.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>&#160;</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span></span></p>
  
  <ix:exclude><!-- Field: Page; Sequence: 15 -->
      <div style="margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" id="xdx_234_z8jpItHtTv7j" style="width: 100%"><tr><td id="xdx_23E_znyj6YknSRAa" style="font-size: 10pt; text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence -->&#160;</td></tr></table></div>
      <div id="xdx_234_zbHR0IcZRM5j" style="break-before: page; margin-top: 6pt"><table cellpadding="0" cellspacing="0" style="width: 100%"><tr><td style="font-size: 8pt; text-align: left; width: 100%"><i><a href="#TOC">Table of Contents</a></i></td></tr></table></div>
      <!-- Field: /Page --></ix:exclude>
  
  <ix:exclude><p id="xdx_234_zeinJhDgA0Lk" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>&#160;</span></p></ix:exclude>
  
  <ix:exclude><p id="xdx_231_zTQp2FShdJoa" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p></ix:exclude>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>Additionally,
  upon consummation of the IPO, the Sponsor sold membership interests in the Sponsor to&#160;<span id="xdx_90E_ecustom--NumberOfAnchorInvestors_dc_uN_c20210816__20210817__us-gaap--StatementClassOfStockAxis__custom--UnitsMember_znZ6eg5tfk2" title="Number of anchor investors"><ix:nonFraction name="aaciu:NumberOfAnchorInvestors" contextRef="From2021-08-162021-08-17_custom_UnitsMember" format="ixt:numdotdecimal" decimals="INF" unitRef="N">10</ix:nonFraction></span>&#160;anchor investors that purchased&#160;<span id="xdx_906_ecustom--PercentageOfUnitsPurchasedByAnchorInvestors_dp_uPure_c20210816__20210817__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__custom--UnitsMember_zqRHx6iHtAdk" title="Percentage of units purchased by anchor investors"><ix:nonFraction name="aaciu:PercentageOfUnitsPurchasedByAnchorInvestors" contextRef="From2021-08-162021-08-17_us-gaap_IPOMember_custom_UnitsMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">9.9</ix:nonFraction></span>%&#160;of
  the units sold in the IPO. The Sponsor sold membership interests in the Sponsor entity reflecting an allocation of&#160;<span id="xdx_90C_ecustom--StockAllocatedToEachAnchorInvestorShares_c20210816__20210817__us-gaap--StatementClassOfStockAxis__custom--FounderSharesMember_zAcgkHbvikR" title="Stock allocated to each anchor investor, shares"><ix:nonFraction name="aaciu:StockAllocatedToEachAnchorInvestorShares" contextRef="From2021-08-162021-08-17_custom_FounderSharesMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">131,250</ix:nonFraction></span>&#160;Founder
  Shares to each anchor investor, or an aggregate of&#160;<span id="xdx_902_ecustom--StockAllocatedToAnchorInvestorsShares_c20210816__20210817__us-gaap--StatementClassOfStockAxis__custom--FounderSharesMember_zzaeyBIbNjAh" title="Stock allocated to anchor investors, shares"><ix:nonFraction name="aaciu:StockAllocatedToAnchorInvestorsShares" contextRef="From2021-08-162021-08-17_custom_FounderSharesMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,312,500</ix:nonFraction></span>&#160;Founder Shares to all&#160;10&#160;anchor investors, at a purchase
  price of approximately $<span id="xdx_905_eus-gaap--SharesIssuedPricePerShare_iI_c20210817__us-gaap--StatementClassOfStockAxis__custom--FounderSharesMember_zMPAEdEXrb7l"><ix:nonFraction name="us-gaap:SharesIssuedPricePerShare" contextRef="AsOf2021-08-17_custom_FounderSharesMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.006</ix:nonFraction></span>&#160;per share. The Company estimated the aggregate fair value of these founder shares attributable to each
  anchor investor to be $<span id="xdx_909_ecustom--StockAllocatedToEachAnchorInvestorValue_c20210816__20210817__us-gaap--StatementClassOfStockAxis__custom--FounderSharesMember_zvAGyhZajtwa" title="Stock allocated to each anchor investor, value"><ix:nonFraction name="aaciu:StockAllocatedToEachAnchorInvestorValue" contextRef="From2021-08-162021-08-17_custom_FounderSharesMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">424,491</ix:nonFraction></span>, or $<span id="xdx_90B_ecustom--StockAllocatedToEachAnchorInvestorValuePerShare_c20210816__20210817__us-gaap--StatementClassOfStockAxis__custom--FounderSharesMember_zOop0I9yAmt2" title="Stock allocated to each anchor investor, value per share"><ix:nonFraction name="aaciu:StockAllocatedToEachAnchorInvestorValuePerShare" contextRef="From2021-08-162021-08-17_custom_FounderSharesMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">3.23</ix:nonFraction></span>&#160;per share. The Company has offset the excess of the fair value against the gross proceeds
  from these anchor investors as a reduction in its additional paid-in capital in accordance with Staff Accounting Bulletin Topic 5A.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span><b><i>Representative
  Common Stock</i></b></span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>On February
  8, 2021, EarlyBirdCapital, Inc. and Northland Securities, Inc. (&#8220;Northland&#8221;) purchased&#160;<span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodSharesOther_c20210207__20210208__us-gaap--StatementClassOfStockAxis__custom--RepresentativeSharesMember__srt--CounterpartyNameAxis__custom--EarlyBirdCapitalIncMember_zTDAzz8RHBnb" title="Issuance of representative shares, shares"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesOther" contextRef="From2021-02-072021-02-08_custom_RepresentativeSharesMember_custom_EarlyBirdCapitalIncMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">162,500</ix:nonFraction></span>&#160;and&#160;<span id="xdx_904_eus-gaap--StockIssuedDuringPeriodSharesOther_c20210207__20210208__us-gaap--StatementClassOfStockAxis__custom--RepresentativeSharesMember__srt--CounterpartyNameAxis__custom--NorthlandSecuritiesIncMember_zDYm4dvk3VV7"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesOther" contextRef="From2021-02-072021-02-08_custom_RepresentativeSharesMember_custom_NorthlandSecuritiesIncMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">87,500</ix:nonFraction></span>&#160;shares
  of common stock (&#8220;representative shares&#8221;), respectively, at an average purchase price of approximately $0.0001&#160;per share,
  or an aggregate purchase price of $<span id="xdx_903_eus-gaap--StockIssuedDuringPeriodValueOther_c20210207__20210208__us-gaap--StatementClassOfStockAxis__custom--RepresentativeSharesMember_ztis7z9y1Wlk" title="Issuance of representative"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueOther" contextRef="From2021-02-072021-02-08_custom_RepresentativeSharesMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">25.00</ix:nonFraction></span>. On May 29, 2021, Northland returned&#160;<span id="xdx_908_eus-gaap--StockIssuedDuringPeriodSharesOther_c20210528__20210529__us-gaap--StatementClassOfStockAxis__custom--RepresentativeSharesMember__srt--CounterpartyNameAxis__custom--EarlyBirdCapitalIncMember_zLC1rmA4mDfl"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesOther" contextRef="From2021-05-282021-05-29_custom_RepresentativeSharesMember_custom_EarlyBirdCapitalIncMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">87,500</ix:nonFraction></span>&#160;shares of common stock to the Company,
  for no consideration, which were subsequently cancelled.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>The representative
  shares are identical to the public shares included in the Units being sold in the IPO, except that the representative shares are subject
  to certain transfer restrictions, as described in more detail below.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>The holders
  of the representative shares have agreed not to transfer, assign or sell any such shares until&#160;<span id="xdx_904_ecustom--PeriodAfterBusinessCombinationForTransferOfShares_dtD_c20211001__20211231__us-gaap--StatementClassOfStockAxis__custom--RepresentativeSharesMember_zz1hoSUYb4sj" title="Period after business combination for transfer of shares"><ix:nonNumeric contextRef="From2021-10-012021-12-31_custom_RepresentativeSharesMember" format="ixt-sec:durday" name="aaciu:PeriodAfterBusinessCombinationForTransferOfShares">30</ix:nonNumeric></span>&#160;days after the completion
  of an initial Business Combination. In addition, the holders of the representative shares have agreed (i) to waive their redemption rights
  (or right to participate in any tender offer) with respect to such shares in connection with the completion of an initial Business Combination
  and (ii) to waive their rights to liquidating distributions from the trust account with respect to such shares if the Company fails to
  complete an initial Business Combination within&#160;<span id="xdx_904_ecustom--PeriodFromInitialPublicOfferingClosingToCompleteAcquisitionForWaiverOfDistributionRights_dtM_c20211001__20211231__us-gaap--StatementClassOfStockAxis__custom--RepresentativeSharesMember_zHhJFKdjbk45" title="Period from Initial Public Offering closing to complete acquisition for waiver of distribution rights"><ix:nonNumeric contextRef="From2021-10-012021-12-31_custom_RepresentativeSharesMember" format="ixt-sec:durmonth" name="aaciu:PeriodFromInitialPublicOfferingClosingToCompleteAcquisitionForWaiverOfDistributionRights">15</ix:nonNumeric></span>&#160;months (or&#160;<span id="xdx_900_ecustom--ExtendedPeriodFromInitialPublicOfferingClosingToCompleteAcquisitionForWaiverOfDistributionRights_dtM_c20211001__20211231__us-gaap--StatementClassOfStockAxis__custom--RepresentativeSharesMember_zEDPFc4YmCP4" title="Extended period from Initial Public Offering closing to complete acquisition for waiver of distribution rights"><ix:nonNumeric contextRef="From2021-10-012021-12-31_custom_RepresentativeSharesMember" format="ixt-sec:durmonth" name="aaciu:ExtendedPeriodFromInitialPublicOfferingClosingToCompleteAcquisitionForWaiverOfDistributionRights">18</ix:nonNumeric></span>&#160;months if extended) from the closing of the IPO.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span><b><i>Promissory
  Note&#8212;Related Party</i></b></span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>On February
  3, 2021, the Sponsor agreed to loan the Company up to $<span id="xdx_906_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_c20210203__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_zgA3B7l39rwj" title="Maximum amount agreed to loan"><ix:nonFraction name="us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity" contextRef="AsOf2021-02-03_custom_SponsorMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">300,000</ix:nonFraction></span>&#160;to be used for a portion of the expenses of the IPO. These loans are
  non-interest bearing, unsecured and are due at the earlier of&#160;<span id="xdx_907_eus-gaap--DebtInstrumentMaturityDate_dd_c20211230__20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_zNE23pa1kJif" title="Debt maturity date"><ix:nonNumeric contextRef="From2021-12-302021-12-31_custom_SponsorMember" format="ixt:datemonthdayyearen" name="us-gaap:DebtInstrumentMaturityDate">October 31, 2021</ix:nonNumeric></span>&#160;or the closing of the IPO. The Company borrowed
  $<span id="xdx_907_eus-gaap--NotesPayableRelatedPartiesClassifiedCurrent_iI_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_zx1AKpgLry69" title="Note payable to related parties"><ix:nonFraction name="us-gaap:NotesPayableRelatedPartiesClassifiedCurrent" contextRef="AsOf2021-12-31_custom_SponsorMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">230,352</ix:nonFraction></span>&#160;under the promissory note and the Company repaid in full upon settlement of funds from the IPO on August 17, 2021.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span><b><i>Working Capital Loans</i></b></span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>In order to
  meet the Company&#8217;s working capital needs following the consummation of the IPO, the Sponsor, officers, directors or their affiliates
  may, but are not obligated to, loan the Company funds (&#8220;Working Capital Loans&#8221;), from time to time or at any time, in whatever
  amount they deem reasonable in their sole discretion. Each loan would be non-interest bearing and be evidenced by a promissory note. The
  notes would either be paid upon consummation of the initial Business Combination, without interest, or, at holder&#8217;s discretion,
  up to $<span id="xdx_905_eus-gaap--DebtConversionOriginalDebtAmount1_c20211001__20211231__us-gaap--RelatedPartyTransactionAxis__custom--WorkingCapitalLoansMember_z2u8EPLg43U1" title="Loan amount convertible into common stock"><ix:nonFraction name="us-gaap:DebtConversionOriginalDebtAmount1" contextRef="From2021-10-012021-12-31_custom_WorkingCapitalLoansMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,500,000</ix:nonFraction></span>&#160;of the notes may be converted into shares at a price of $<span id="xdx_90B_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_c20211231__us-gaap--RelatedPartyTransactionAxis__custom--WorkingCapitalLoansMember_zTxxBfrgqzR1" title="Loan conversion price"><ix:nonFraction name="us-gaap:DebtInstrumentConvertibleConversionPrice1" contextRef="AsOf2021-12-31_custom_WorkingCapitalLoansMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">10.00</ix:nonFraction></span>&#160;per share. The shares would be identical to
  the Private Shares. In the event that the initial Business Combination does not close, the Company may use a portion of the working capital
  held outside the Trust Account to repay such loaned amounts, but no proceeds from the Trust Account would be used for such repayment.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span><b><i>Administrative
  Service Fee</i></b></span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>Commencing on
  the date of the IPO, the Company will pay the Sponsor $<span id="xdx_90E_eus-gaap--RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_c20211001__20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_zJP6PVOnlAyk" title="Monthly fee"><ix:nonFraction name="us-gaap:RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty" contextRef="From2021-10-012021-12-31_custom_SponsorMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">10,000</ix:nonFraction></span>&#160;per month for office space, utilities and secretarial support. Upon
  completion of the initial Business Combination or the Company&#8217;s liquidation, the Company will cease paying these monthly fees. For
  the three months ended December 31, 2021, the Company incurred $<span id="xdx_901_eus-gaap--AdministrativeFeesExpense_c20211001__20211231_zARSwYnSwiJd" title="Administrative fees expense"><ix:nonFraction name="us-gaap:AdministrativeFeesExpense" contextRef="From2021-10-01to2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">30,000</ix:nonFraction></span>&#160;in administrative service fees.</span></p>
  
  </ix:nonNumeric><p id="xdx_81A_zID9DOj0Fin4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>&#160;</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span></span></p>
  
  <!-- Field: Page; Sequence: 16 -->
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      <div style="break-before: page; margin-top: 6pt"><table cellpadding="0" cellspacing="0" id="xdx_232_zy5DqY76MHe6" style="width: 100%"><tr><td style="font-size: 8pt; text-align: left; width: 100%"><i><a href="#TOC">Table of Contents</a></i></td></tr></table></div>
      <!-- Field: /Page -->
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>&#160;</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>
  <ix:nonNumeric contextRef="From2021-10-01to2021-12-31" escape="true" name="us-gaap:CommitmentsAndContingenciesDisclosureTextBlock"><p id="xdx_802_eus-gaap--CommitmentsAndContingenciesDisclosureTextBlock_zuSURspzynDa" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span><b>Note 6 &#8212;&#160;<span id="xdx_820_z1eCP4fTjOTa">Commitments
  &amp; Contingencies</span></b></span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span><b><i>Registration
  Rights</i></b></span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>The holders
  of the Founder Shares issued and outstanding on the date of the IPO, as well as the holders of the representative shares, Private Shares
  and any shares the Company&#8217;s Sponsor, officers, directors or their affiliates may issue in payment of Working Capital Loans made
  to the Company, will be entitled to registration rights pursuant to an agreement to be signed prior to or on the effective date of the
  IPO. The holders of a majority of these securities (other than the holders of the representative shares) are entitled to make up to two
  demands that the Company registers such securities. The holders of the majority of the Founder Shares can elect to exercise these registration
  rights at any time commencing three months prior to the date on which these shares of common stock are to be released from escrow. The
  holders of a majority of the Private Shares and shares issued to the Company&#8217;s Sponsor, officers, directors or their affiliates
  in payment of Working Capital Loans made to the Company can elect to exercise these registration rights at any time after the Company
  consummates a Business Combination. In addition, the holders have certain &#8220;piggy-back&#8221; registration rights with respect to
  registration statements filed subsequent to the Company&#8217;s consummation of a Business Combination. The Company will bear the expenses
  incurred in connection with the filing of any such registration statements.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span><b><i>Underwriting
  Agreement</i></b></span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 20pt; text-align: justify"><span>The Company
  granted the underwriters a&#160;<span id="xdx_909_ecustom--PeriodOfUnderwritersOverallotmentsOption_dtDxL_c20210816__20210817_zXcjo13AO3f1" title="Period of underwriters&apos; over-allotments option"><span style="-sec-ix-hidden: xdx2ixbrl0455">45</span></span>-day option from the date of the IPO to purchase up to an additional&#160;<span id="xdx_90F_ecustom--NumberOfSharesAvailableUnderUnderwritersOverallotmentsOption_c20210816__20210817_zls2iu5oMWI7" title="Number of shares available under underwriters&apos; over-allotments option"><ix:nonFraction name="aaciu:NumberOfSharesAvailableUnderUnderwritersOverallotmentsOption" contextRef="From2021-08-162021-08-17" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">2,250,000</ix:nonFraction></span>&#160;units to cover
  over-allotments, if any.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>The underwriters
  were paid a cash underwriting discount of&#160;<span id="xdx_900_ecustom--UnderwritingDiscountPercentage_dp_uPure_c20210816__20210817_z4zHd0cSS3vk" title="Underwriting discount percentage"><ix:nonFraction name="aaciu:UnderwritingDiscountPercentage" contextRef="From2021-08-162021-08-17" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">1.0</ix:nonFraction></span>%&#160;of the gross proceeds of the IPO, or $<span id="xdx_90A_ecustom--UnderwritingCommissionCosts_c20210816__20210817_zp9uqW17U6Y1" title="Underwriting commissions"><ix:nonFraction name="aaciu:UnderwritingCommissionCosts" contextRef="From2021-08-162021-08-17" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,500,000</ix:nonFraction></span>&#160;(and are entitled to an
  additional $<span id="xdx_902_ecustom--DeferredUnderwritingCommissionPayable_iI_c20210817_znH0P7LJmqMh" title="Deferred underwriting commission payable"><ix:nonFraction name="aaciu:DeferredUnderwritingCommissionPayable" contextRef="AsOf2021-08-17" format="ixt:numdotdecimal" decimals="0" unitRef="USD">225,000</ix:nonFraction></span>&#160;of deferred underwriting commission payable at the time of an initial Business Combination if the underwriters&#8217;
  over-allotment is exercised in full). On October 1, 2021 the underwriters&#8217; over-allotment option expired unused resulting in the
  $<span id="xdx_90D_ecustom--DeferredUnderwritingCommissionExpired_c20211001__20211002_zZXdb4Rye7tb" title="Deferred underwriting commission expired"><ix:nonFraction name="aaciu:DeferredUnderwritingCommissionExpired" contextRef="From2021-10-012021-10-02" format="ixt:numdotdecimal" decimals="0" unitRef="USD">225,000</ix:nonFraction></span>&#160;deferred underwriting commission to be not payable to the underwriter.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span><b><i>Financial
  Advisory Fee</i></b></span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>The Company
  engaged Cohen &amp; Company Capital Markets, a division of J.V.B. Financial Group, LLC (&#8220;CCM&#8221;), an affiliate of a member of
  the Sponsor, to provide consulting and advisory services in connection with the IPO, for which it received an advisory fee equal to one
  (<span id="xdx_904_ecustom--AdvisoryFeePercentageForIntitialPublicOffering_dp_uPure_c20210816__20210817_zGSkVwktenZ" title="Advisory fee percentage for initial public offering"><ix:nonFraction name="aaciu:AdvisoryFeePercentageForIntitialPublicOffering" contextRef="From2021-08-162021-08-17" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">1.0</ix:nonFraction></span>) percent of the aggregate proceeds of the IPO, or $<span id="xdx_909_ecustom--AdvisoryFeeForIPOAmountIfUnderwritersOptionIsNotExercised_c20210816__20210817_zMaRc6e0r076" title="Advisory fee for IPO amount if underwriters&apos; option is not exercised"><ix:nonFraction name="aaciu:AdvisoryFeeForIPOAmountIfUnderwritersOptionIsNotExercised" contextRef="From2021-08-162021-08-17" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,500,000</ix:nonFraction></span>, upon closing of the IPO. Affiliates of CCM have and manage investment
  vehicles with a passive investment in the Sponsor. On August 18, 2021, the Company paid to CCM in aggregate of $<span id="xdx_90A_eus-gaap--PaymentsForFees_c20210816__20210818_zLjF8Cbdikm5" title="Advisory fee paid"><ix:nonFraction name="us-gaap:PaymentsForFees" contextRef="From2021-08-162021-08-18" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,500,000</ix:nonFraction></span>. CCM has agreed
  to defer the payment of the portion of the advisory fee attributable to over-allotment option until the consummation of the initial Business
  Combination. CCM is engaged to represent the Company&#8217;s interests only. The Company will also engage CCM as an advisor in connection
  with the initial Business Combination for which it will earn an advisory fee of&#160;<span id="xdx_908_ecustom--AdvisoryFeePercentageForBusinessCombination_dp_uPure_c20210816__20210817_z3gjUOrho1Q8" title="Advisory fee percentage for business combination"><ix:nonFraction name="aaciu:AdvisoryFeePercentageForBusinessCombination" contextRef="From2021-08-162021-08-17" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">2.25</ix:nonFraction></span>%&#160;of the gross proceeds of the IPO, or $<span id="xdx_904_ecustom--AdvisoryFeeForBusinessCombinationAmountIfUnderwritersOptionIsNotExercised_c20210816__20210817_zSspFOoeD6l7" title="Advisory fee for business combination amount if underwriters&apos; option is not exercised"><ix:nonFraction name="aaciu:AdvisoryFeeForBusinessCombinationAmountIfUnderwritersOptionIsNotExercised" contextRef="From2021-08-162021-08-17" format="ixt:numdotdecimal" decimals="0" unitRef="USD">3,375,000</ix:nonFraction></span>,
  payable at closing of the Business Combination. On October 1, 2021 the underwriters&#8217; over-allotment option expired unused resulting
  in no additional fees and commissions related to the over-allotment option to be not payable to CCM by the Company.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span><b><i>Business Combination Marketing
  Agreement</i></b></span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>The Company
  engaged the representative of the underwriter as an advisor in connection with Business Combination to assist in holding meetings with
  the Company&#8217;s stockholders to discuss the potential Business Combination and the target business&#8217; attributes, introduce the
  Company to potential investors that are interested in purchasing the Company&#8217;s securities in connection with the initial Business
  Combination and assist the Company with press releases and public filings in connection with the Business Combination. The Company will
  pay the representative a cash fee for such services upon the consummation of the initial Business Combination in an amount equal to&#160;<span id="xdx_903_ecustom--MarketingAgreementFeePercentageForBusinessCombination_dp_uPure_c20210816__20210817_zb6CNFKe8hN5" title="Marketing agreement fee percentage for business combination"><ix:nonFraction name="aaciu:MarketingAgreementFeePercentageForBusinessCombination" contextRef="From2021-08-162021-08-17" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">2.25</ix:nonFraction></span>%&#160;of
  the gross proceeds of the IPO, or $<span id="xdx_90E_ecustom--MarketingAgreementFeeForBusinessCombinationAmountIfUnderwritersOptionIsNotExercised_c20210816__20210817_zbhlROYGS4X3" title="Marketing agreement fee for business combination amount if underwriters&apos; option is not exercised"><ix:nonFraction name="aaciu:MarketingAgreementFeeForBusinessCombinationAmountIfUnderwritersOptionIsNotExercised" contextRef="From2021-08-162021-08-17" format="ixt:numdotdecimal" decimals="0" unitRef="USD">3,375,000</ix:nonFraction></span>. The Company will also pay the representative a separate capital market advisory fee of $<span id="xdx_904_ecustom--CapitalMarketAdvisoryFeeForBusinessCombination_c20210816__20210817_ziiyP7yLtCu6" title="Capital market advisory fee for business combination"><ix:nonFraction name="aaciu:CapitalMarketAdvisoryFeeForBusinessCombination" contextRef="From2021-08-162021-08-17" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,500,000</ix:nonFraction></span>&#160;upon
  completion of the initial Business Combination. Additionally, the Company will pay the representative a cash fee equal to&#160;<span id="xdx_907_ecustom--CashFeePercentageForTargetBusinessIntroductionInBusinessCombination_dp_uPure_c20210816__20210817_zfTVyrW1ztia" title="Cash fee percentage for target business introduction in business combination"><ix:nonFraction name="aaciu:CashFeePercentageForTargetBusinessIntroductionInBusinessCombination" contextRef="From2021-08-162021-08-17" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">1.0</ix:nonFraction></span>%&#160;of
  the total consideration payable in the proposed Business Combination if the representative introduces the Company to the target business
  with which the Company completes a Business Combination. On October 1, 2021 the underwriters&#8217; over-allotment option expired unused
  resulting in no additional marketing fees related to the over-allotment option to be not payable to the representative on the underwriter
  by the Company.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>&#160;</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span></span></p>
  
  <ix:exclude><!-- Field: Page; Sequence: 17 -->
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      <div style="break-before: page; margin-top: 6pt"><table cellpadding="0" cellspacing="0" id="xdx_23D_zFi9yXbIwiu" style="width: 100%"><tr><td style="font-size: 8pt; text-align: left; width: 100%"><i><a href="#TOC">Table of Contents</a></i></td></tr></table></div>
      <!-- Field: /Page --></ix:exclude>
  
  <ix:exclude><p id="xdx_23E_zPVpU2yozx4d" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>&#160;</span></p></ix:exclude>
  
  <ix:exclude><p id="xdx_239_ziNhiFP2oQD" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p></ix:exclude>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span><b><i>Right
  of First Refusal</i></b></span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>If the Company
  determines to pursue any equity, equity-linked, debt or mezzanine financing relating to or in connection with an initial Business Combination,
  then Northland Securities, Inc. shall have the right, but not the obligation, to act as book running manager, placement agent and/or arranger,
  as the case may be, in any and all such financing or financings. This right of first refusal extends from the date of the IPO until the
  earlier of the consummation of an initial Business Combination or the liquidation of the Trust Account if the Company fails to consummate
  a Business Combination during the required time period.</span></p>
  
  </ix:nonNumeric><p id="xdx_814_zrXjDaSUP9pi" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>
  <ix:nonNumeric contextRef="From2021-10-01to2021-12-31" escape="true" name="us-gaap:StockholdersEquityNoteDisclosureTextBlock"><p id="xdx_806_eus-gaap--StockholdersEquityNoteDisclosureTextBlock_z1QquC1QHYZe" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span><b>Note 7 &#8212;&#160;<span id="xdx_823_z72gsk5hnUna">Stockholders&#8217;
  Equity</span></b></span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span><b><i>Preferred
  stock</i></b>&#8212;The Company is authorized to issue&#160;<span id="xdx_905_eus-gaap--PreferredStockSharesAuthorized_iI_c20211231_zU4J7FtDjgXd" title="Preferred stock, shares authorized"><ix:nonFraction name="us-gaap:PreferredStockSharesAuthorized" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,000,000</ix:nonFraction></span>&#160;shares of preferred stock with a par value of $<span id="xdx_90F_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20211231_zZHbn1IXILMi" title="Preferred stock, par value"><ix:nonFraction name="us-gaap:PreferredStockParOrStatedValuePerShare" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.0001</ix:nonFraction></span>&#160;and
  with such designations, voting and other rights and preferences as may be determined from time to time by the Company&#8217;s board of
  directors. As of December 31, 2021 and September 30, 2021, there were&#160;<span id="xdx_90F_eus-gaap--PreferredStockSharesIssued_iI_pii_do_uShares_c20211231_zRtkI6WlVX1j" title="Preferred stock, shares issued"><span id="xdx_901_eus-gaap--PreferredStockSharesOutstanding_iI_pii_do_uShares_c20211231_zOe0qg4rux18" title="Preferred stock, shares outstanding"><ix:nonFraction name="us-gaap:PreferredStockSharesIssued" contextRef="AsOf2021-12-31" format="ixt-sec:numwordsen" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:PreferredStockSharesOutstanding" contextRef="AsOf2021-12-31" format="ixt-sec:numwordsen" decimals="INF" unitRef="Shares">no</ix:nonFraction></ix:nonFraction></span></span>&#160;shares of preferred stock issued or outstanding.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span><b><i>Common
  stock</i></b>&#8212;The Company is authorized to issue&#160;<span id="xdx_904_eus-gaap--CommonStockSharesAuthorized_iI_c20211231_zXG9lDniTjZc" title="Common stock, shares authorized"><ix:nonFraction name="us-gaap:CommonStockSharesAuthorized" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">100,000,000</ix:nonFraction></span>&#160;shares of common stock with a par value of $<span id="xdx_90C_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20211231_z9qj75Q37Cm8" title="Common stock, par value"><ix:nonFraction name="us-gaap:CommonStockParOrStatedValuePerShare" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.0001</ix:nonFraction></span>&#160;per
  share. At December 31, 2021 and September 30, 2021, there were&#160;<span id="xdx_903_eus-gaap--CommonStockSharesIssued_iI_pid_do_c20211231_zT4KD1zKclGl" title="Common stock, shares issued"><span id="xdx_902_eus-gaap--CommonStockSharesOutstanding_iI_pid_do_c20211231_zAmFp0iEP6P7"><ix:nonFraction name="us-gaap:CommonStockSharesIssued" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:CommonStockSharesOutstanding" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">5,709,500</ix:nonFraction></ix:nonFraction></span></span> and <span id="xdx_90C_eus-gaap--CommonStockSharesOutstanding_iI_do_c20210930_zaGSR45sksse" title="Common stock, shares outstanding"><span id="xdx_906_eus-gaap--CommonStockSharesIssued_iI_do_c20210930_z8RKTL9xcblf"><ix:nonFraction name="us-gaap:CommonStockSharesOutstanding" contextRef="AsOf2021-09-30" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:CommonStockSharesIssued" contextRef="AsOf2021-09-30" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">6,834,500</ix:nonFraction></ix:nonFraction></span></span> &#160;shares of common stock issued and outstanding
  (excluding&#160;<span id="xdx_90A_ecustom--CommonStockRedemption_iI_pii_c20211231_zS5zEJ9iGOv2" title="Shares subject to redemption"><ix:nonFraction name="aaciu:CommonStockRedemption" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">15,000,000</ix:nonFraction></span>&#160;shares subject to redemption). On February 3, 2021, affiliates of the Sponsor paid $<span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20210202__20210203__us-gaap--StatementClassOfStockAxis__custom--FounderSharesMember_zRGWstypesm6" title="Value of shares issued"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueNewIssues" contextRef="From2021-02-022021-02-03_custom_FounderSharesMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">25,000</ix:nonFraction></span>, or approximately
  $<span id="xdx_90A_eus-gaap--SharesIssuedPricePerShare_iI_pii_c20210208__us-gaap--StatementClassOfStockAxis__custom--FounderShares1Member_z8gpA3kxmHB2" title="Price per share"><ix:nonFraction name="us-gaap:SharesIssuedPricePerShare" contextRef="AsOf2021-02-08_custom_FounderShares1Member" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.006</ix:nonFraction></span>&#160;per share, to cover certain offering costs in consideration for&#160;<span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210202__20210203__us-gaap--StatementClassOfStockAxis__custom--FounderSharesMember_zKREeGlGgin5" title="Number of shares issued"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2021-02-022021-02-03_custom_FounderSharesMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">4,312,500</ix:nonFraction></span>&#160;Founder Shares. On February 8, 2021, EarlyBirdCapital,
  Inc. and Northland purchased&#160;<span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesOther_pii_c20210207__20210208__us-gaap--StatementClassOfStockAxis__custom--RepresentativeSharesMember__srt--CounterpartyNameAxis__custom--EarlyBirdCapitalIncMember_ziLhzyJQCbvb" title="Issuance of Representative shares, shares"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesOther" contextRef="From2021-02-072021-02-08_custom_RepresentativeSharesMember_custom_EarlyBirdCapitalIncMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">162,500</ix:nonFraction></span>&#160;and&#160;<span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesOther_pii_c20210207__20210208__us-gaap--StatementClassOfStockAxis__custom--RepresentativeSharesMember__srt--CounterpartyNameAxis__custom--NorthlandSecuritiesIncMember_z3PiQW8rnfyc" title="Issuance of Representative shares, shares"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesOther" contextRef="From2021-02-072021-02-08_custom_RepresentativeSharesMember_custom_NorthlandSecuritiesIncMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">87,500</ix:nonFraction></span>&#160;representative shares, respectively, at an average purchase price
  of approximately $<span id="xdx_90A_eus-gaap--SharesIssuedPricePerShare_iI_pii_c20210208__us-gaap--StatementClassOfStockAxis__custom--RepresentativeSharesMember_zD2KuIJfKCqf" title="Price per share"><ix:nonFraction name="us-gaap:SharesIssuedPricePerShare" contextRef="AsOf2021-02-08_custom_RepresentativeSharesMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.0001</ix:nonFraction></span>&#160;per share, or an aggregate purchase price of $<span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodValueOther_c20210207__20210208__us-gaap--StatementClassOfStockAxis__custom--RepresentativeSharesMember_z2kaFE71g45f" title="Issuance of Representative shares"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueOther" contextRef="From2021-02-072021-02-08_custom_RepresentativeSharesMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">25.00</ix:nonFraction></span>.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 40pt; text-align: justify"><span>On May 29, 2021,
  Northland returned&#160;<span id="xdx_908_eus-gaap--StockRepurchasedAndRetiredDuringPeriodShares_c20210528__20210529__us-gaap--StatementClassOfStockAxis__custom--RepresentativeSharesMember__srt--CounterpartyNameAxis__custom--NorthlandSecuritiesIncMember_zruCZzK18l01" title="Representative shares returned to the company"><ix:nonFraction name="us-gaap:StockRepurchasedAndRetiredDuringPeriodShares" contextRef="From2021-05-282021-05-29_custom_RepresentativeSharesMember_custom_NorthlandSecuritiesIncMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">87,500</ix:nonFraction></span>&#160;shares of common stock to the Company, for no consideration, which were subsequently cancelled and
  on June 16, 2021, the Sponsor purchased an additional&#160;<span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210615__20210616__us-gaap--StatementClassOfStockAxis__custom--FounderSharesMember_z82HZpSQdtVk" title="Number of shares issued"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2021-06-152021-06-16_custom_FounderSharesMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">700,000</ix:nonFraction></span>&#160;shares of common stock at a purchase price of $<span id="xdx_909_eus-gaap--SharesIssuedPricePerShare_iI_c20210616__us-gaap--StatementClassOfStockAxis__custom--FounderSharesMember_zsgZeTOn6bLg" title="Price per share"><ix:nonFraction name="us-gaap:SharesIssuedPricePerShare" contextRef="AsOf2021-06-16_custom_FounderSharesMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.006</ix:nonFraction></span>&#160;per
  share, resulting in the Sponsor holding an aggregate of&#160;<span id="xdx_905_eus-gaap--CommonStockSharesOutstanding_iI_c20210616__us-gaap--StatementClassOfStockAxis__custom--FounderSharesMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_zhHfB6Am7KSh" title="Common stock, shares outstanding"><ix:nonFraction name="us-gaap:CommonStockSharesOutstanding" contextRef="AsOf2021-06-16_custom_FounderSharesMember_custom_SponsorMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">5,012,500</ix:nonFraction></span>&#160;shares of common stock. On June 16, 2021, the Sponsor transferred&#160;<span id="xdx_90A_eus-gaap--ConversionOfStockSharesConverted1_c20210615__20210616__srt--TitleOfIndividualAxis__srt--PresidentMember_zB8ihClameA" title="Shares of common stock transferred"><ix:nonFraction name="us-gaap:ConversionOfStockSharesConverted1" contextRef="From2021-06-152021-06-16_srt_PresidentMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">50,000</ix:nonFraction>&#160;</span>shares
  to its Chief Executive Officer and to its President and&#160;<span id="xdx_908_eus-gaap--ConversionOfStockSharesConverted1_pii_c20210615__20210616__srt--TitleOfIndividualAxis__srt--DirectorMember_zdwmABdo1xQ3" title="Shares of common stock transferred"><ix:nonFraction name="us-gaap:ConversionOfStockSharesConverted1" contextRef="From2021-06-152021-06-16_srt_DirectorMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">35,000</ix:nonFraction></span>&#160;shares to each of its&#160;<span id="xdx_907_ecustom--NumberOfIndependentDirectors_pid_dxH_uN_c20210615__20210616__srt--TitleOfIndividualAxis__srt--DirectorMember_zOvYPeLIwWDj" title="Number of independent directors::XDX::3">three</span>&#160;outside directors. The
  Founder Shares include an aggregate of up to&#160;<span id="xdx_90A_eus-gaap--CommonStockOtherSharesOutstanding_iI_c20211231_zIgnEje0JCTd" title="Shares subject to forfeiture"><ix:nonFraction name="us-gaap:CommonStockOtherSharesOutstanding" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,125,000</ix:nonFraction></span>&#160;shares subject to forfeiture by the Sponsor to the extent that the underwriters&#8217;
  over-allotment option is not exercised in full or in part. On October 1, 2021 the underwriter&#8217;s over-allotment option expired unused
  resulting in&#160;<span id="xdx_904_ecustom--NumberOfSharesForfeited_pii_uShares_c20211001__20211002__us-gaap--StatementClassOfStockAxis__custom--FounderSharesMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zudwpWI9TVTa" title="Number of shares forfeited"><ix:nonFraction name="aaciu:NumberOfSharesForfeited" contextRef="From2021-10-012021-10-02_custom_FounderSharesMember_us-gaap_OverAllotmentOptionMember_us-gaap_SubsequentEventMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,125,000</ix:nonFraction></span>&#160;founder shares forfeited to the Company for no consideration. As of December 31, 2021, there were&#160;5,709,500&#160;shares
  of common stock issued and outstanding, excluding&#160;<span id="xdx_904_eus-gaap--TemporaryEquitySharesOutstanding_iI_pii_c20211231_zu5pPDjpTFOb" title="Shares subject to redemption"><ix:nonFraction name="us-gaap:TemporaryEquitySharesOutstanding" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">15,000,000</ix:nonFraction></span>&#160;shares subject to redemption.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>Common stockholders
  of record are entitled to&#160;<span id="xdx_908_eus-gaap--CommonStockVotingRights_c20211001__20211231_zfR8nWDb8s5k" title="Common stock voting rights"><ix:nonNumeric contextRef="From2021-10-01to2021-12-31" name="us-gaap:CommonStockVotingRights">one vote for each share</ix:nonNumeric></span>&#160;held on all matters to be voted on by stockholders. In connection with any
  vote held to approve the initial Business Combination, the Sponsor, as well as all of the Company&#8217;s officers and directors, have
  agreed to vote their respective shares of common stock owned by them immediately prior to the IPO and any shares purchased in the IPO
  or following the IPO in the open market in favor of the proposed Business Combination.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span><b><i>Warrants</i></b>&#8212;Each
  whole warrant entitles the holder to purchase one share of common stock at a price of $<span id="xdx_906_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20211231_zFPdI8XEiTRd" title="Warrant exercise price"><ix:nonFraction name="us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">11.50</ix:nonFraction></span>&#160;per share, subject to adjustment as
  discussed herein. The warrants will become exercisable&#160;<span id="xdx_905_ecustom--WarrantExercisablePeriodAfterBusinessCombination_dtxL_c20211001__20211231_zMODUHOuBSbl" title="Warrant exercisable period after business combination::XDX::P30D"><span style="-sec-ix-hidden: xdx2ixbrl0547">30</span></span>&#160;days after the completion of the Company&#8217;s initial Business
  Combination. However, no warrants will be exercisable for cash unless the Company has an effective and current registration statement
  covering the shares of common stock issuable upon exercise of the warrants and a current prospectus relating to such shares of common
  stock. Notwithstanding the foregoing, if a registration statement covering the shares of common stock issuable upon exercise of the public
  warrants is not effective within&#160;<span id="xdx_908_ecustom--WarrantCashlessExercisePeriodAfterBusinessCombination_dtxL_c20211001__20211231_z9rJXjdc1VPa" title="Warrant cashless exercise period after business combination::XDX::P90D"><span style="-sec-ix-hidden: xdx2ixbrl0549">90</span></span>&#160;days following the consummation of the initial Business Combination, warrant holders may,
  until such time as there is an effective registration statement and during any period when the Company shall have failed to maintain an
  effective registration statement, exercise warrants on a cashless basis pursuant to the exemption provided by Section 3(a)(9) of the Securities
  Act, provided that such exemption is available. If that exemption, or another exemption, is not available, holders will not be able to
  exercise their warrants on a cashless basis. In the event of such cashless exercise, each holder would pay the exercise price by surrendering
  the warrants for that number of shares of common stock equal to the quotient obtained by dividing (x) the product of the number of shares
  of common stock uderlying the warrants, multiplied by the difference between the exercise price of the warrants and the &#8220;fair market
  value&#8221; (defined below) by (y) the fair market value. The &#8220;fair market value&#8221; for this purpose will mean the average
  reported last sale price of the shares of common stock for the&#160;<span id="xdx_902_ecustom--PeriodOfTradingDaysToDetermineFairMarketValueOfCommonStock_dtxL_c20211001__20211231_zm4FruxP6Zrh" title="Period of trading days to determine fair market value of common stock::XDX::P5D"><span style="-sec-ix-hidden: xdx2ixbrl0551">5</span></span>&#160;trading days ending on the trading day prior to the date of
  exercise. The warrants will expire on the fifth anniversary of the completion of an initial Business Combination, at 5:00 p.m., New York
  City time, or earlier upon redemption or liquidation.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>&#160;</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span></span></p>
  
  <ix:exclude><!-- Field: Page; Sequence: 18 -->
      <div style="margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" id="xdx_230_zEQHKvkB9Wbi" style="width: 100%"><tr><td id="xdx_23C_zoyAcTHUbgdj" style="font-size: 10pt; text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence -->&#160;</td></tr></table></div>
      <div style="break-before: page; margin-top: 6pt"><table cellpadding="0" cellspacing="0" id="xdx_235_zZQEO9KwQqFb" style="width: 100%"><tr><td style="font-size: 8pt; text-align: left; width: 100%"><i><a href="#TOC">Table of Contents</a></i></td></tr></table></div>
      <!-- Field: /Page --></ix:exclude>
  
  <ix:exclude><p id="xdx_237_zyvxS965iYcc" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>&#160;</span></p></ix:exclude>
  
  <ix:exclude><p id="xdx_23D_zt8bm4p4uKKl" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p></ix:exclude>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>The Company
  may call the warrants for redemption, in whole and not in part, at a price of $<span id="xdx_907_ecustom--WarrantsRedemptionPricePerShare_pid_c20211001__20211231_zKpvWD6CbBp4" title="Warrants redemption price per share"><ix:nonFraction name="aaciu:WarrantsRedemptionPricePerShare" contextRef="From2021-10-01to2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.01</ix:nonFraction></span>&#160;per warrant, in whole and not in part:</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
    <tr style="vertical-align: top">
      <td style="width: 48px">&#160;</td>
      <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;</span></td>
      <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">at any time after the warrants become exercisable,</span></td></tr>
    </table>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in">&#160;</p>
  
  <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
    <tr style="vertical-align: top">
      <td style="width: 48px">&#160;</td>
      <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;</span></td>
      <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">upon not less than&#160;<span id="xdx_90A_ecustom--NoticePeriodForWarrantsRedemption_dtxL_c20211001__20211231_zzHBZS2K2NDb" title="Notice period for warrants redemption::XDX::P30D"><span style="-sec-ix-hidden: xdx2ixbrl0557">30</span></span>&#160;days&#8217; prior written notice of redemption to each warrant holder</span></td></tr>
    </table>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in">&#160;</p>
  
  <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
    <tr style="vertical-align: top">
      <td style="width: 48px">&#160;</td>
      <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;</span></td>
      <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">if, and only if, the reported last sale price of the common stock equals or exceeds $<span id="xdx_90B_ecustom--CommonStockSharePricePerShareForWarrantsRedemption_iI_pii_c20211231_zmn2uUIFscM2" title="Common stock share price per share for warrants redemption"><ix:nonFraction name="aaciu:CommonStockSharePricePerShareForWarrantsRedemption" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">18.00</ix:nonFraction></span>&#160;per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations) for any&#160;<span id="xdx_902_ecustom--PeriodOfTradingDaysWithinSpecifiedWindowForMinimumCommonStockPriceForWarrantsRedemption_dtxL_c20211001__20211231_zUNJVhNXgAE1" title="Period of trading days within specified window for minimum common stock price for warrants redemption::XDX::P20D"><span style="-sec-ix-hidden: xdx2ixbrl0561">20</span></span>&#160;trading days within a&#160;<span id="xdx_90D_ecustom--TradingDaysSpecifiedWindowForMinimumCommonStockPriceForWarrantsRedemption_dtxL_c20211001__20211231_zqrk37zpVSBh" title="Trading days specified window for minimum common stock price for warrants redemption::XDX::P30D"><span style="-sec-ix-hidden: xdx2ixbrl0563">30</span></span>-trading day period commencing at any time after the warrants become exercisable and ending on the third business day prior to the notice of redemption to warrant holders; and</span></td></tr>
    </table>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in">&#160;</p>
  
  <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
    <tr style="vertical-align: top">
      <td style="width: 48px">&#160;</td>
      <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;</span></td>
      <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">if, and only if, there is a current registration statement in effect with respect to the shares of common stock underlying such warrants.</span></td></tr>
    </table>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>If the Company
  calls the warrants for redemption as described above, the Company&#8217;s management will have the option to require all holders that
  wish to exercise warrants to do so on a &#8220;cashless basis.&#8221; In such event, each holder would pay the exercise price by surrendering
  the warrants for that number of shares of common stock equal to the quotient obtained by dividing (x) the product of the number of shares
  of common stock underlying the warrants, multiplied by the difference between the exercise price of the warrants and the &#8220;fair market
  value&#8221; (defined below) by (y) the fair market value. The &#8220;fair market value&#8221; for this purpose shall mean the average
  reported last sale price of the shares of common stock for the&#160;<span id="xdx_902_ecustom--PeriodOfTradingDaysToDetermineFairMarketValueOfCommonStock_dtxL_c20211001__20211231_za8yIhbVjKFg" title="Period of trading days to determine fair market value of common stock::XDX::P5D"><span style="-sec-ix-hidden: xdx2ixbrl0565">5</span></span>&#160;trading days ending on the third trading day prior to the date
  on which the notice of redemption is sent to the holders of warrants.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>In addition,
  if (x) the Company issues additional shares of common stock or equity-linked securities for capital raising purposes in connection with
  the closing of the initial Business Combination at an issue price or effective issue price of less than $<span id="xdx_90B_ecustom--CommonStockIssuePricePerShareBelowWhichTriggersWarrantAdjustment_pii_c20211001__20211231_z1GGVp2mwRhf" title="Common stock issue price per share below which triggers warrant adjustment"><ix:nonFraction name="aaciu:CommonStockIssuePricePerShareBelowWhichTriggersWarrantAdjustment" contextRef="From2021-10-01to2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">9.20</ix:nonFraction></span>&#160;per share of common
  stock (with such issue price or effective issue price to be determined in good faith by the Company&#8217;s board of directors, and in
  the case of any such issuance to the Sponsor, initial stockholders or their affiliates, without taking into account any founders&#8217;
  shares held by them prior to such issuance), (y) the aggregate gross proceeds from such issuances represent more than&#160;<span id="xdx_901_ecustom--PercentageOfAvailableEquityProceedsBelowSpecifiedPriceWhichTriggersWarrantAdjustment_iI_pii_dp_c20211231_zizZxiq143W3" title="Percentage of available equity proceeds below specified price which triggers warrant adjustment"><ix:nonFraction name="aaciu:PercentageOfAvailableEquityProceedsBelowSpecifiedPriceWhichTriggersWarrantAdjustment" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">60</ix:nonFraction></span>%&#160;of
  the total equity proceeds, and interest thereon, available for the funding of the initial Business Combination on the date of the consummation
  of the initial Business Combination (net of redemptions), and (z) the Market Value is below $<span id="xdx_908_ecustom--CommonStockMarketValuePerShareBelowWhichTriggersWarrantAdjustment_iI_c20211231_zCdNYu54wtW4" title="Common stock market value per share below which triggers warrant adjustment"><ix:nonFraction name="aaciu:CommonStockMarketValuePerShareBelowWhichTriggersWarrantAdjustment" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">9.20</ix:nonFraction></span>&#160;per share, the exercise price of
  the warrants will be adjusted (to the nearest cent) to be equal to&#160;<span id="xdx_90F_ecustom--PercentageOfMarketValueForWarrantExercisePriceAdjustment_iI_dp_c20211231_zv94bpDc2kSg" title="Percentage of Market Value for warrant exercise price adjustment"><ix:nonFraction name="aaciu:PercentageOfMarketValueForWarrantExercisePriceAdjustment" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">115</ix:nonFraction></span>%&#160;of the greater of (i) the Market Value or (ii) the price
  at which the Company issues the additional shares of common stock or equity-linked securities.</span></p>
  
  </ix:nonNumeric><p id="xdx_81D_zS6yLvNi19F8" style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><b>&#160;</b></p>
  <ix:nonNumeric contextRef="From2021-10-01to2021-12-31" escape="true" name="us-gaap:FairValueMeasurementInputsDisclosureTextBlock"><p id="xdx_803_eus-gaap--FairValueMeasurementInputsDisclosureTextBlock_zpgKE2uKBLac" style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><span><b>Note 8 &#8212;&#160;<span id="xdx_823_zh93qoabYWdc">Recurring
  Fair Value Measurements</span></b></span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><span>The Company&#8217;s
  trust assets on the balance sheet consist of U. S. Money Market funds which are classified as cash equivalents. Fair values of these investments
  are determined by Level 1 inputs utilizing quoted prices (unadjusted) in active markets for identical assets.&#160;</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>There were no
  transfers between Levels 1, 2 or 3 during the three months ended December 31, 2021.</span></p>
  
  </ix:nonNumeric><p id="xdx_81D_zN2tilKXnkAf" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>
  <ix:nonNumeric contextRef="From2021-10-01to2021-12-31" escape="true" name="us-gaap:SubsequentEventsTextBlock"><p id="xdx_808_eus-gaap--SubsequentEventsTextBlock_zId3nhNa332a" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span><b>Note
  9 &#8212;&#160;<span id="xdx_823_zDza2XEuyWJ5">Subsequent Events</span></b></span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company evaluated subsequent events and transactions
  that occurred after the balance sheet date up to the date that the financial statement was issued. Based upon this review the Company
  did not identify any subsequent events that would have required adjustment or disclosure in these unaudited condensed financial statements.</p>
  
  </ix:nonNumeric><p id="xdx_814_zU7hP1mHlmHc" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  
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  <p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&#160;</p>
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="item2"></span><b>Item 2. Management&#8217;s Discussion and Analysis
  of Financial Condition and Results of Operations.</b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>The following discussion and analysis of the Company&#8217;s
  financial condition and results of operations should be read in conjunction with the financial statements and the notes thereto contained
  elsewhere in this report. References to the &#8220;Company,&#8221; &#8220;us&#8221; or &#8220;we&#8221; refer to Armada Acquisition Corp.
  I.</i></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; background-color: white"><b>Cautionary Note
  Regarding Forward-Looking Statements</b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; background-color: white"><i>This Quarterly
  Report on Form 10-Q includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and
  Section 21E of the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;). We have based these forward-looking statements
  on our current expectations and projections about future events. These forward-looking statements are subject to known and unknown risks,
  uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially
  different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements.
  In some cases, you can identify forward-looking statements by terminology such as &#8220;may,&#8221; &#8220;should,&#8221; &#8220;could,&#8221;
  &#8220;would,&#8221; &#8220;expect,&#8221; &#8220;plan,&#8221; &#8220;anticipate,&#8221; &#8220;believe,&#8221; &#8220;estimate,&#8221;
  &#8220;continue,&#8221; or the negative of such terms or other similar expressions. Factors that might cause or contribute to such a discrepancy
  include, but are not limited to, those described in our other Securities and Exchange Commission (&#8220;SEC&#8221;) filings.</i></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; background-color: white"><b>Overview</b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; background-color: white">We are a blank check
  company incorporated in Delaware on November 5, 2020, for the purpose of effecting a merger, stock exchange, asset acquisition, stock
  purchase, reorganization or other similar business combination with one or more businesses.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; background-color: white">On August 17, 2021,
  we consummated our IPO of 15,000,000 units, at $10.00 per unit, generating gross proceeds of $150 million.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; background-color: white">Simultaneously with
  the closing of the IPO, we consummated the private placement of 459,500 Private Shares for an aggregate purchase price of $4,595,000.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; background-color: white">Upon the closing of
  the IPO on August 17, 2021, $150,000,000 ($10.00 per unit) from the net proceeds of the sale of the units in the IPO and the sale of Private
  Shares were placed in the Trust Account.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; background-color: white">If we are unable to
  complete the initial Business Combination within the Combination Period, we will (i) cease all operations except for the purpose of winding
  up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem 100% of the outstanding public shares,
  at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on
  the funds held in the Trust Account and not previously released to us but net of taxes payable (and less up to $100,000 of interest to
  pay dissolution expenses), divided by the number of then outstanding public shares, which redemption will completely extinguish public
  stockholders&#8217; rights as stockholders (including the right to receive further liquidation distributions, if any), subject to applicable
  law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining stockholders and
  our board of directors, liquidate and dissolve, subject (in the case of (ii) and (iii) above) to our obligations under Delaware law to
  provide for claims of creditors and the requirements of other applicable law.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; background-color: white"><b><i>Business Combination
  Agreement</i></b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; background-color: white"><b><i></i></b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; background-color: white">On December 17,
  2021, we announced that we entered into a business combination agreement, dated as of December 17, 2021, with Rezolve Limited, a private
  limited liability company registered under the laws of England and Wales (&#8220;<span style="text-decoration: underline">Rezolve</span>&#8221;), Rezolve Group Limited, a Cayman
  Islands exempted company (&#8220;<span style="text-decoration: underline">Cayman NewCo</span>&#8221;), and Rezolve Merger Sub, Inc., a Delaware corporation (&#8220;<span style="text-decoration: underline">Rezolve
  Merger Sub</span>&#8221;) (such business combination agreement, the &#8220;<span style="text-decoration: underline">Business Combination Agreement</span>,&#8221; and such business
  combination, the &#8220;<span style="text-decoration: underline">Business Combination</span>&#8221;).</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; background-color: white"></p>
  
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; background-color: white">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Pursuant to the terms of
  the Business Combination Agreement, we, Cayman NewCo, Rezolve and Rezolve Merger Sub will effect a series of transactions, of among other
  things:</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>
  
  <ul style="font-family: Times New Roman, Times, Serif; margin-top: 0in; list-style-type: disc">
  
  <li style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">a company reorganization
  pursuant to which Cayman NewCo will enter into a transfer and exchange agreement (the &#8220;<span style="text-decoration: underline">Transfer and Exchange Agreement</span>&#8221;),
  pursuant to which, each Key Company Shareholder (as defined in the Business Combination Agreement) will transfer to Cayman NewCo his,
  her or its respective shares of Rezolve in exchange for ordinary shares in Cayman NewCo, such that following the effectiveness of such
  transfers, the Key Company Shareholders will own the same proportionate equity interests of Cayman NewCo that such Key Company Shareholders
  owned t immediately before such transfers (with the balance of the other shares of Rezolve to be transferred to Cayman NewCo in exchange
  for an equivalent number and class of shares in Cayman NewCo) and, immediately thereafter, each Key Company Shareholder will transfer
  to Cayman NewCo all of his, her or its respective shares of Cayman NewCo so received in exchange for his, her or its applicable pro rata
  portion of the aggregate stock consideration in accordance with the terms and conditions set forth in the Business Combination Agreement
  and in such Transfer and Exchange Agreement (with all other shareholders of Rezolve to transfer to Cayman NewCo all of his, her or its
  respective shares of Cayman NewCo received in exchange for his, her or its applicable pro rata portion of the aggregate stock consideration);
  and</li>
  
  </ul>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; background-color: white">&#160;</p>
  
  <ul style="font-family: Times New Roman, Times, Serif; margin-top: 0in; list-style-type: disc">
  
  <li style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">following the Company Reorganization,
  but in no event earlier than ten (10) days following the effectiveness of each of the transactions contemplated by the Company Reorganization:
  (a) Rezolve Merger Sub shall be merged with and into Armada whereupon Rezolve Merger Sub will cease to exist and with Armada surviving
  the Merger as a subsidiary of Cayman NewCo; and (b) Armada shall loan all of its remaining cash in the Trust Account to Cayman NewCo in
  exchange for a promissory note, to enable Cayman NewCo to fund working capital and transaction expenses. Pursuant to the Merger, all of
  the outstanding securities of Armada will be converted into the right to receive an equivalent number of securities of Cayman NewCo of
  the same type and with the same terms.</li>
  
  </ul>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">As a result of the Business
  Combination (i) the shareholders of Rezolve will receive a number of Cayman NewCo ordinary shares equal to (A) the quotient obtained by
  dividing (x) $1,750,000,000 by (y) $10.00 minus (B) the Outstanding Warrant Number (as defined in the Business Combination) and minus
  (C) the Acquisition Shares (as defined in the Business Combination Agreement) (to the extent such Acquisition Shares are not already issued
  on or prior to the Company Reorganization Date), and (ii) the combined company will pay or cause to be paid all of the transaction expenses.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span>The
  consummation of the Business Combination is subject to the satisfaction or waiver of certain customary closing conditions of the respective
  parties, including the completion of the Company Reorganization, the requisite approvals of our stockholders and Rezolve&#8217;s shareholders
  and regulatory approvals.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; background-color: white">In connection with
  the execution of the Business Combination Agreement, we and Cayman NewCo entered into certain subscription agreements, each dated December
  17, 2021 (the &#8220;<span style="text-decoration: underline">Subscription Agreements</span>&#8221;), with certain investors, pursuant to which such investors have agreed to purchase
  an aggregate of 2,050,000 ordinary shares (the &#8220;<span style="text-decoration: underline">PIPE Shares</span>&#8221;) of Cayman NewCo (together, the &#8220;<span style="text-decoration: underline">Subscriptions</span>&#8221;),
  for a purchase price of $10.00 per share, for an aggregate purchase price of $20.5 million to be issued substantially concurrently with
  the consummation of the Business Combination. The obligations of each party to consummate the Subscriptions are conditioned upon, among
  other things, customary closing conditions.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; background-color: white">We cannot assure you
  that our plans to complete our initial business combination will be successful.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; background-color: white"><b>Results of Operations</b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; background-color: white">For the three months
  ended December 31, 2021, we had a net loss of $2,036,114, which consisted of operating costs and costs related to a <span>prospective
  initial Business Combination</span> of $2,010,995 and stock-based compensation of $27,963, partially offset by trust interest income
  of $2,844.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; background-color: white"></p>
  
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; background-color: white">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">We will have 15 months (or 18 months if extended) from the closing of the
  IPO to complete the initial Business Combination (the &#8220;<span style="text-decoration: underline">Combination Period</span>&#8221;). However, if we are unable to complete
  the initial Business Combination within the Combination Period, we will (i) cease all operations except for the purpose of winding up,
  (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem 100% of the outstanding public shares,
  at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on
  the funds held in the Trust Account and not previously released to the Company but net of taxes payable (and less up to $50,000 of interest
  to pay dissolution expenses), divided by the number of then outstanding public shares, which redemption will completely extinguish public
  stockholders&#8217; rights as stockholders (including the right to receive further liquidation distributions, if any), subject to applicable
  law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining stockholders and
  the Company&#8217;s board of directors, liquidate and dissolve, subject (in the case of (ii) and (iii) above) to our obligations under
  Delaware law to provide for claims of creditors and the requirements of other applicable law.&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We have also agreed to reimburse the Sponsor for office
  space, secretarial and administrative services provided to members of our management team, in an amount not to exceed $10,000 per month.
  Upon completion of our initial business combination or our liquidation, we will cease paying these monthly fees. For the three months
  ended December 31, 2021, the Company paid $30,000 under this agreement.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; background-color: white"><b><i>Liquidity and
  Capital Resources</i></b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2021, we had cash outside our Trust
  Account of $419,700, available for working capital needs. All remaining cash was held in the Trust Account and is generally unavailable
  for our use, prior to an initial business combination.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On August 17, 2021, we completed the sale of 15,000,000
  Units at $10.00 per Unit, generating gross proceeds of $150,000,000.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Simultaneously with the consummation of the IPO, the
  Company consummated the private placement of 459,500 shares of common stock (&#8220;<span style="text-decoration: underline">Private Shares</span>&#8221;), at a price of $10.00
  per share for an aggregate purchase price of $4,595,000.&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In connection with the IPO, the underwriters were
  granted a 45-day option from the date of the prospectus for the IPO to purchase up to 2,250,000 additional units to cover over-allotments,
  if any. On October 1, 2021 this option expired unused.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Following our IPO and the sale of the Private Shares,
  a total of $150,000,000 ($10.00 per Unit) was placed in the Trust Account. We incurred $3,537,515 in IPO related costs, including $1,500,000
  of underwriting fees and $2,037,515 of other costs.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2021, we had marketable securities
  held in the Trust Account of $150,003,896 (including $3,896 of interest income) consisting of mutual funds. Interest income on the balance
  in the Trust Account may be used by us to pay taxes.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For the three months ended December 31, 2021, cash
  used in operating activities was $237,890. Net loss of $2,036,114 was impacted primarily by changes in operating assets and liabilities
  of $1,773,105, stock-based compensation of $27,963, partially offset by trust interest income of $2,844.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We intend to use substantially all of the funds held
  in the Trust Account, including any amounts representing interest earned on the Trust Account to complete our initial business combination.
  We may withdraw interest to pay our taxes and liquidation expenses if we are unsuccessful in completing a business combination. We estimate
  our annual franchise tax obligations to be $200,000, which is the maximum amount of annual franchise taxes payable by us as a Delaware
  corporation per annum, which we may pay from funds from the Public Offering held outside of the Trust Account or from interest earned
  on the funds held in the Trust Account and released to us for this purpose. Our 2021 franchise tax was calculated using a partial year
  proration and amounted to $74,521. Our annual income tax obligations will depend on the amount of interest and other income earned on
  the amounts held in the Trust Account reduced by our operating expense and franchise taxes. We expect the interest earned on the amount
  in the Trust Account will be sufficient to pay our income taxes. To the extent that our equity or debt is used, in whole or in part, as
  consideration to complete our initial business combination, the remaining proceeds held in the Trust Account will be used as working capital
  to finance the operations of the target business or businesses, make other acquisitions and pursue our growth strategies.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>
  
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Further, our sponsor, officers and directors or their
  respective affiliates may, but are not obligated to, loan us funds as may be required (the &#8220;<span style="text-decoration: underline">Working Capital Loans</span>&#8221;).
  If we complete a business combination, we would repay the Working Capital Loans. In the event that a business combination does not close,
  we may use a portion of proceeds held outside the Trust Account to repay the Working Capital Loans, but no proceeds held in the Trust
  Account would be used to repay the Working Capital Loans. Such Working Capital Loans would be evidenced by promissory notes. The notes
  would either be repaid upon consummation of a business combination, without interest, or, at the lender&#8217;s discretion, or converted
  upon consummation of a business combination into additional Private Shares at a price of $10.00 per Private Share. As of December 31,
  2021, no Working Capital Loans have been issued.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; background-color: white">We do not believe
  we will need to raise additional funds in order to meet the expenditures required for operating our business for the 15 month period from
  the closing of our initial public offering (or 18 months from such date if we extend the period of time to consummate a business combination).
  However, if our estimate of the costs of identifying a target business, undertaking in-depth due diligence a-nd negotiating a business
  combination are less than the actual amount necessary to do so, we may have insufficient funds available to operate our business prior
  to our business combination. In connection with the execution of the Business Combination Agreement, we and Cayman NewCo entered into
  certain subscription agreements, each dated December 17, 2021 (the &#8220;<span style="text-decoration: underline">Subscription Agreements</span>&#8221;), with certain investors,
  pursuant to which such investors have agreed to purchase an aggregate of 2,050,000 ordinary shares (the &#8220;<span style="text-decoration: underline">PIPE Shares</span>&#8221;)
  of Cayman NewCo (together, the &#8220;<span style="text-decoration: underline">Subscriptions</span>&#8221;), for a purchase price of $10.00 per share, for an aggregate purchase
  price of $20.5 million to be issued substantially concurrently with the consummation of the Business Combination. The obligations of each
  party to consummate the Subscriptions are conditioned upon, among other things, customary closing conditions. Under the Business Combination
  Agreement, either we or Rezolve may termination the Business Combination Agreement if th<span>e aggregate
  transaction proceeds (excluding any amount pursuant to the Subscription Agreement to which Apeiron Investment Group Limited is party and
  any other amounts invested by the investors specified in the Business Combination Agreement) provided or committed to be provided are
  not more than $50 million </span>If we are unable to complete a business combination (including the Business Combination) because we do
  not have sufficient funds available to us, we will be forced to cease operations and liquidate the Trust Account.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; background-color: white"><b>Critical Accounting
  Policies</b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; background-color: white">The preparation
  of these unaudited condensed financial statements in conformity with US GAAP requires management to make estimates and assumptions that
  affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited
  condensed financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those
  estimates. We have identified the following as our critical accounting policies:</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Offering Costs</i></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We comply with the requirements of ASC 340-10-S99-1
  and SEC Staff Accounting Bulletin Topic 5A&#8212;&#8220;Expenses of Offering&#8221;. Offering costs consist of legal, accounting, underwriting
  and other costs incurred through the balance sheet date that are related to the IPO. We incurred offering costs amounting to $3,537,515
  as a result of the IPO consisting of a $1,500,000 underwriting commissions, and $2,037,515 of other offering costs.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;<i>&#160;</i></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Redeemable Shares of Common Stock</i></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We account for our common stock subject to possible
  redemption in accordance with the guidance in ASC Topic 480 &#8220;Distinguishing Liabilities from Equity.&#8221; Common stock subject
  to mandatory redemption (if any) are classified as a liability instrument and measured at fair value. Conditionally redeemable common
  stock (including common stock that feature redemption rights that are either within the control of the holder or subject to redemption
  upon the occurrence of uncertain events not solely within the Company&#8217;s control) are classified as temporary equity. At all other
  times, common stock are classified as stockholders&#8217; equity. Our shares of common stock feature certain redemption rights that are
  considered to be outside of the Company&#8217;s control and subject to the occurrence of uncertain future events. Accordingly, 15,000,000
  shares of common stock subject to possible redemption are presented at redemption value as temporary equity, outside of the stockholders&#8217;
  equity section of the Company&#8217;s balance sheet.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>
  
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #212529">All of the common stock sold as part
  of the Units in the IPO contain a redemption feature which allows for the redemption of such public shares in connection with the Company&#8217;s
  liquidation, if there is a shareholder vote or tender offer in connection with the Business Combination and in connection with certain
  amendments to the Company&#8217;s certificate of incorporation. In accordance with ASC 480-10-S99, redemption provisions not solely within
  the control of the Company require common stock subject to redemption to be classified outside of permanent equity.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Net Loss per Share</i></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>&#160;</i></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">We comply with accounting and disclosure requirements
  of FASB ASC Topic 260, &#8220;Earnings Per Share&#8221;. Net loss per common stock is computed by dividing net loss by the weighted average
  number of common stock outstanding for the period. Remeasurement adjustments associated with the redeemable shares of common stock is
  excluded from earnings per share as the redemption value approximates fair value.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The calculation of diluted loss per share does not
  consider the effect of the warrants issued in connection with the IPO because the warrants are contingently exercisable, and the contingencies
  have not yet been met. The warrants are exercisable to purchase 7,500,000 shares of common stock in the aggregate. As of December 31,
  2021, we did not have any dilutive securities or other contracts that could, potentially, be exercised or converted into common stock
  and then share in the earnings of the Company. As a result, diluted net loss per common stock is the same as basic net loss per common
  stock for the period presented.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Accretion of the carrying value of common stock subject
  to redemption value is excluded from net loss per common stock because the redemption value approximates fair value.&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Recent Accounting Pronouncements</i></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In August 2020, the Financial Accounting Standards
  Board (&#8220;<span style="text-decoration: underline">FASB</span>&#8221;) issued Accounting Standards Update (&#8220;<span style="text-decoration: underline">ASU</span>&#8221;) 2020-06, Debt &#8212; Debt with Conversion
  and Other Options (Subtopic 470-20) and Derivatives and Hedging &#8212; Contracts in Entity&#8217;s Own Equity (Subtopic 815-40) (&#8220;<span style="text-decoration: underline">ASU
  2020-06</span>&#8221;) to simplify accounting for certain financial instruments. ASU 2020-06 eliminates the current models that require separation
  of beneficial conversion and cash conversion features from convertible instruments and simplifies the derivative scope exception guidance
  pertaining to equity classification of contracts in an entity&#8217;s own equity. The new standard also introduces additional disclosures
  for convertible debt and freestanding instruments that are indexed to and settled in an entity&#8217;s own equity. ASU 2020-06 amends
  the diluted earnings per share guidance, including the requirement to use the if-converted method for all convertible instruments. ASU
  2020-06 is effective January 1, 2022 and should be applied on a full or modified retrospective basis, with early adoption permitted beginning
  on January 1, 2021. The Company is currently assessing the impact, if any, that ASU 2020-06 would have on its financial position, results
  of operations or cash flows.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Management does not believe that any recently issued,
  but not effective, accounting pronouncements, if currently adopted, would have a material effect on our unaudited condensed financial
  statements.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 0; background-color: white"><b>Off-Balance&#160;Sheet Arrangements;
  Commitments and Contractual Obligations</b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><b>&#160;</b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We have no obligations, assets or liabilities which
  would be considered off-balance sheet arrangements. We do not participate in transactions that create relationships with unconsolidated
  entities or financial partnerships, often referred to as variable interest entities, which would have been established for the purpose
  of facilitating off-balance sheet arrangements.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We have not entered into any off-balance sheet financing
  arrangements, established any special purpose entities, guaranteed any debt or commitments of other entities, or entered into any non-financial
  agreements involving assets.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>&#160;</i></b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>&#160;</i></b></p>
  
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i></i></b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>&#160;</i></b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Contractual Obligations</i></b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We do not have any long-term debt, capital lease obligations,
  operating lease obligations or long-term liabilities other than an administrative agreement to reimburse our sponsor for office space,
  secretarial and administrative services not to exceed $10,000 per month from the date of closing of the Public Offering. Upon completion
  of a business combination or the Company&#8217;s liquidation, the Company will cease paying these monthly fees.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Financial Advisory Fee</i></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We engaged Cohen &amp; Company Capital Markets, a
  division of J.V.B. Financial Group, LLC (&#8220;<span style="text-decoration: underline">CCM</span>&#8221;), an affiliate of a member of the Sponsor, to provide consulting and
  advisory services in connection with the IPO, for which it received an advisory fee equal to one (1.0) percent of the aggregate proceeds
  of the IPO, or $1,500,000, upon closing of the IPO. Affiliates of CCM have and manage investment vehicles with a passive investment in
  the Sponsor. On August 18, 2021, we paid to CCM in aggregate of $1,500,000. CCM has agreed to defer the payment of the portion of the
  advisory fee attributable to over-allotment option until the consummation of the initial Business Combination. CCM is engaged to represent
  our interests only. We have also engaged CCM as an advisor in connection with the initial Business Combination for which it will earn
  an advisory fee of 2.25% of the gross proceeds of the IPO, or $3,375,000, payable at closing of the Business Combination. On October 1,
  2021 the underwriters&#8217; over-allotment option expired unused resulting in no additional fees and commissions related to the over-allotment
  option to be not payable to CCM by the Company.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Business Combination Marketing Agreement </i></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We engaged the representative of the underwriter as
  an advisor in connection with Business Combination to assist in holding meetings with our stockholders to discuss the potential Business
  Combination and the target business&#8217; attributes, introduce us to potential investors that are interested in purchasing our securities
  in connection with the initial Business Combination and assist us with press releases and public filings in connection with the Business
  Combination. We will pay the representative a cash fee for such services upon the consummation of the initial Business Combination in
  an amount equal to 2.25% of the gross proceeds of the IPO, or $3,375,000. We will also pay the representative a separate capital market
  advisory fee of $2,500,000 upon completion of the initial Business Combination. Additionally, we will pay the representative a cash fee
  equal to 1.0% of the total consideration payable in the proposed Business Combination if the representative introduces us to the target
  business with which the Company completes a Business Combination.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Right of First Refusal</i></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If we determine to pursue any equity, equity-linked,
  debt or mezzanine financing relating to or in connection with an initial Business Combination, then Northland Securities, Inc. shall have
  the right, but not the obligation, to act as book running manager, placement agent and/or arranger, as the case may be, in any and all
  such financing or financings. This right of first refusal extends from the date of the IPO until the earlier of the consummation of an
  initial Business Combination or the liquidation of the Trust Account if the Company fails to consummate a Business Combination during
  the required time period.<b>&#160;</b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.25in; text-indent: -0.25in; background-color: white"><b>Registration
  Rights</b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; background-color: white">The holders of the
  Founder Shares issued and outstanding on the date of the IPO, as well as the holders of the representative shares, Private Shares and
  any shares the sponsor, officers, directors or their affiliates may issue in payment of Working Capital Loans made to us, will be entitled
  to registration rights pursuant to an agreement to be signed prior to or on the effective date of the IPO. The holders of a majority
  of these securities (other than the holders of the representative shares) are entitled to make up to two demands that we register such
  securities. The holders of the majority of the Founder Shares can elect to exercise these registration rights at any time commencing
  three months prior to the date on which these shares of common stock are to be released from escrow. The holders of a majority of the
  Private Shares and shares issued to the Sponsor, officers, directors or their affiliates in payment of Working Capital Loans made to
  us can elect to exercise these registration rights at any time after we consummate a business combination. In addition, the holders have
  certain &#8220;piggy-back&#8221; registration rights with respect to registration statements filed subsequent to the consummation of
  a business combination. We will bear the expenses incurred in connection with the filing of any such registration statements.&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; background-color: white"></p>
  
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; background-color: white"><b>Underwriting Agreement</b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; background-color: white">We granted the underwriters
  a 45-day option from the date of the IPO to purchase up to an additional 2,250,000 units to cover over-allotments, if any. On October
  1, 2021 the underwriters&#8217; over-allotment option expired unused.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; background-color: white">The underwriters were
  paid a cash underwriting discount of 1.0% of the gross proceeds of the IPO, or $1,500,000.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Business Combination Agreement</b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">We are party to the Business
  Combination Agreement with Rezolve, Cayman NewCo and Rezolve Merger Sub, dated December 17, 2021. Completion of the proposed transaction
  pursuant to the Business Combination Agreement is subject to customary closing conditions, including the approval of the Company&#8217;s
  and Rezolve&#8217;s respective stockholders and regulatory approvals.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">In connection with the execution
  of the Business Combination Agreement, certain investors <span>have agreed to purchase an aggregate of
  2,050,000 ordinary shares of Cayman NewCo</span> for the purchase price of $10.00 per share, for an aggregate purchase price of $20.5
  million pursuant to certain subscription agreements (the &#8220;<span style="text-decoration: underline">Subscription Agreements</span>&#8221;). The obligations of each party
  under the subscription agreements are conditioned upon customary closing conditions and the consummation of the Business Combination.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span>Concurrently
  with the execution and delivery of the Business Combination Agreement, Armada and the Key Company Shareholders (as defined in the Business
  Combination Agreement) have entered into the Transaction Support Agreement (the &#8220;</span><span style="text-decoration: underline">Transaction Support Agreement</span><span>&#8221;),
  pursuant to which, among other things, the Key Company Shareholders have agreed to (a) enter into the transfer and exchange agreement
  in order to effect the Company Reorganization, (b) vote in favor of the Business Combination Agreement and the agreements contemplated
  thereby and the transactions contemplated hereby, (c) enter into an Investor Rights Agreement at Closing and (d) the termination of certain
  agreements effective as of Closing.</span></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><b>&#160;</b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><b><span id="item3"></span>Item 3. Quantitative and
  Qualitative Disclosures About Market Risk</b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Not required for smaller
  reporting companies.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span id="item4"></span><b>Item 4. Controls and Procedures</b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><b>Evaluation of Disclosure
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>
  
  <p style="font: 10pt/10.7pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; background-color: white">Disclosure controls
  and procedures are designed to ensure that information required to be disclosed by us in our&#160;Exchange Act&#160;reports is recorded,
  processed, summarized, and reported within the time periods specified in the SEC&#8217;s rules and forms, and that such information is
  accumulated and communicated to our management, including our principal executive officer and principal financial officer or persons performing
  similar functions, as appropriate to allow timely decisions regarding required disclosure.</p>
  
  <p style="font: 10pt/10.7pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; background-color: white">Under the supervision
  and with the participation of our management, including our principal executive officer and principal financial and accounting officer,
  we conducted an evaluation of the effectiveness of our disclosure controls and procedures as of December 31, 2021, as such term is defined
  in Rules&#160;13a-15(e) and 15d-15(e) under the Exchange Act.&#160;Based on this evaluation, our principal executive officer and principal
  financial and accounting officer have concluded that as of December 31, 2021, our disclosure controls and procedures were effective.</p>
  
  <p style="font: 10pt/10.7pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; background-color: white"><b>Internal
  Control over Financial Reporting</b></p>
  
  <p style="font: 10pt/10.7pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; background-color: white">Management is
  responsible for establishing and maintaining adequate internal control over financial reporting for the Company. Management assessed the
  effectiveness of our internal control over financial reporting as of December 31, 2021. Based on its assessment, management concluded
  that our internal control over financial reporting was effective as of December 31, 2021.</p>
  
  <p style="font: 10pt/10.7pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; background-color: white">&#160;</p>
  
  <p style="font: 10pt/10.7pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; background-color: white"><b>Changes in
  Internal Control over Financial Reporting</b></p>
  
  <p style="font: 10pt/10.7pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; background-color: white">There were no
  changes to our internal control over financial reporting that occurred during our fiscal quarter ended December 31, 2021 that have materially
  affected or are reasonably likely to materially affect, our internal control over financial reporting.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p>
  
  
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>&#160;</b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span id="part2"></span><b>PART II - OTHER INFORMATION</b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="p2item1"></span><b>Item 1. Legal Proceedings.</b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">None.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><span id="p2item1a"></span>Item 1A. Risk Factors.</b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">Except as set forth below, as of the date of this
  Quarterly Report, there have been no material changes with respect to those risk factors previously disclosed in our <span>Annual
  Report on Form 10-K for the year ended September 30, 2021, as filed with SEC on December 29, 2021</span>. Any of these factors could result
  in a significant or material adverse effect on our results of operations or financial condition. Additional risk factors not presently
  known to us or that we currently deem immaterial may also impair our business or results of operations.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><b><i>There are no assurances that we will consummate
  our recently announced business combination with Heliogen, Inc.</i></b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">On December 17, 2021, we announced that we entered
  into a business combination agreement, dated as of December 17, 2021, with Rezolve Limited, a private limited liability company registered
  under the laws of England and Wales (&#8220;<span style="text-decoration: underline">Rezolve</span>&#8221;), Rezolve Group Limited, a Cayman Islands exempted company (&#8220;<span style="text-decoration: underline">Cayman
  NewCo</span>&#8221;), and Rezolve Merger Sub, Inc., a Delaware corporation (&#8220;<span style="text-decoration: underline">Rezolve Merger Sub</span>&#8221;) (such business combination
  agreement, the &#8220;<span style="text-decoration: underline">Business Combination Agreement</span>,&#8221; and such business combination, the &#8220;<span style="text-decoration: underline">Business Combination</span>&#8221;).
  Pursuant to the terms of the Business Combination Agreement, we, Cayman NewCo, Rezolve and Rezolve Merger Sub will effect a series of
  transactions, of among other things:</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>
  
  <ul style="font-family: Times New Roman, Times, Serif; margin-top: 0in; list-style-type: disc">
  
  <li style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">a company reorganization
  pursuant to which Cayman NewCo will enter into a transfer and exchange agreement (the &#8220;<span style="text-decoration: underline">Transfer and Exchange Agreement</span>&#8221;),
  pursuant to which, each Key Company Shareholder (as defined in the Business Combination Agreement) will transfer to Cayman NewCo his,
  her or its respective shares of Rezolve in exchange for ordinary shares in Cayman NewCo, such that following the effectiveness of such
  transfers, the Key Company Shareholders will own the same proportionate equity interests of Cayman NewCo that such Key Company Shareholders
  owned t immediately before such transfers (with the balance of the other shares of Rezolve to be transferred to Cayman NewCo in exchange
  for an equivalent number and class of shares in Cayman NewCo) and, immediately thereafter, each Key Company Shareholder will transfer
  to Cayman NewCo all of his, her or its respective shares of Cayman NewCo so received in exchange for his, her or its applicable pro rata
  portion of the aggregate stock consideration in accordance with the terms and conditions set forth in the Business Combination Agreement
  and in such Transfer and Exchange Agreement (with all other shareholders of Rezolve to transfer to Cayman NewCo all of his, her or its
  respective shares of Cayman NewCo received in exchange for his, her or its applicable pro rata portion of the aggregate stock consideration);
  and</li>
  
  </ul>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; background-color: white">&#160;</p>
  
  <ul style="font-family: Times New Roman, Times, Serif; margin-top: 0in; list-style-type: disc">
  
  <li style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">following the Company Reorganization,
  but in no event earlier than ten (10) days following the effectiveness of each of the transactions contemplated by the Company Reorganization:
  (a) Rezolve Merger Sub shall be merged with and into Armada whereupon Rezolve Merger Sub will cease to exist and with Armada surviving
  the Merger as a subsidiary of Cayman NewCo; and (b) Armada shall loan all of its remaining cash in the Trust Account to Cayman NewCo in
  exchange for a promissory note, to enable Cayman NewCo to fund working capital and transaction expenses. Pursuant to the Merger, all of
  the outstanding securities of Armada will be converted into the right to receive an equivalent number of securities of Cayman NewCo of
  the same type and with the same terms.</li>
  
  </ul>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">As a result of the Business Combination (i) the
  shareholders of Rezolve will receive a number of Cayman NewCo ordinary shares equal to (A) the quotient obtained by dividing (x) $1,750,000,000
  by (y) $10.00 minus (B) the Outstanding Warrant Number (as defined in the Business Combination) and minus (C) the Acquisition Shares (as
  defined in the Business Combination Agreement) (to the extent such Acquisition Shares are not already issued on or prior to the Company
  Reorganization Date), and (ii) the combined company will pay or cause to be paid all of the transaction expenses.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"></p>
  
  <!-- Field: Page; Sequence: 27 -->
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      <div style="break-before: page; margin-top: 6pt"><table cellpadding="0" cellspacing="0" style="width: 100%"><tr><td style="font-size: 8pt; text-align: left; width: 100%"><i><a href="#TOC">Table of Contents</a></i></td></tr></table></div>
      <!-- Field: /Page -->
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span>The consummation
  of the Business Combination is subject to the satisfaction or waiver of certain customary closing conditions of the respective parties,
  including the completion of the Company Reorganization, the requisite approvals of our stockholders and Rezolve&#8217;s shareholders and
  regulatory approvals. </span>There are no assurances that all the conditions to the Business Combination will be satisfied or satisfied
  within the time frames required un the Business Combination Agreement or otherwise expected. If the conditions to the Business Combination
  are not met (and, to extent waivable, are not waived), then, subject to the terms and conditions of the Business Combination Agreement,
  either the Company or Heliogen may terminate the Business Combination Agreement. The Company has <span>until
  15&#160;months (or&#160;18&#160;months if extended) from the closing of the IPO to complete the initial Business Combination</span>. However,
  if we are unable to complete the initial Business Combination within the Combination Period, we will (i) cease all operations except for
  the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem 100% of the
  outstanding public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account,
  including interest earned on the funds held in the Trust Account and not previously released to the Company but net of taxes payable (and
  less up to $50,000 of interest to pay dissolution expenses), divided by the number of then outstanding public shares, which redemption
  will completely extinguish public stockholders&#8217; rights as stockholders (including the right to receive further liquidation distributions,
  if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of
  our remaining stockholders and the Company&#8217;s board of directors, liquidate and dissolve, subject (in the case of (ii) and (iii)
  above) to our obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law.&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="p2item2"></span><b>Item 2. Unregistered Sales of Equity Securities
  and Use of Proceeds.</b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white">None.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="p2item3"></span><b>Item 3. Defaults Upon Senior Securities.</b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">None.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="p2item4"></span><b>Item 4. Mine Safety Disclosures.</b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Not Applicable.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><span id="p2item5"></span>Item 5. Other Information.</b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">None.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt"><b><span id="p2item6"></span>Item 6. Exhibits</b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The following exhibits are filed
  as part of, or incorporated by reference into, this Quarterly Report on Form 10-Q.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <tr style="vertical-align: top; background-color: rgb(204,238,255)">
      <td style="width: 9%; text-align: center"><span style="font-size: 10pt"><b>Exhibit&#160;No.</b></span></td>
      <td style="white-space: nowrap; width: 1%; padding-bottom: 8pt; line-height: 107%">&#160;</td>
      <td style="width: 49%; padding-left: 28.7pt"><span style="font-size: 10pt"><b>Description</b></span></td>
      <td style="width: 1%; padding-left: 9.75pt">&#160;</td>
      <td style="width: 40%; padding-left: 9.75pt"><span style="font-size: 10pt"><b>Incorporation&#160;by&#160;Reference</b></span></td></tr>
    <tr style="vertical-align: top; background-color: White">
      <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.1</span></td>
      <td style="white-space: nowrap; padding-bottom: 2.25pt">&#160;</td>
      <td style="padding-left: 28.7pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Underwriting Agreement, dated August 12, 2021, by and between the Company and Northland, as representative of the several underwriters.</span></td>
      <td style="padding-left: 9.75pt">&#160;</td>
      <td style="padding-left: 9.75pt"><span style="font-size: 10pt"><a href="http://www.sec.gov/Archives/edgar/data/1844817/000095015921000262/ex1-1.htm" style="-sec-extract: exhibit">Previously filed as an exhibit to our Current Report on Form 8-K filed on August 18, 2021 and incorporated by reference herein.</a></span></td></tr>
    <tr style="vertical-align: top; background-color: rgb(204,238,255)">
      <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.1</span></td>
      <td style="white-space: nowrap; padding-bottom: 8pt; line-height: 107%">&#160;</td>
      <td style="padding-left: 28.7pt"><span style="font-size: 10pt">Business Combination Agreement, dated as of December 17, 2021, by and among Armada Acquisition Corp. I, Rezolve Group Limited, Rezolve Merger Sub, Inc. and Rezolve Limited.</span></td>
      <td style="padding-left: 9.75pt">&#160;</td>
      <td style="padding-left: 9.75pt"><span style="font-size: 10pt"><a href="http://www.sec.gov/Archives/edgar/data/1844817/000095015921000359/ex2-1.htm" style="-sec-extract: exhibit">Previously filed as an exhibit to our Current Report on Form 8-K filed on December 17, 2021 and incorporated by reference herein.</a></span></td></tr>
    <tr style="vertical-align: top; background-color: White">
      <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.1</span></td>
      <td style="white-space: nowrap; padding-bottom: 8pt; line-height: 107%">&#160;</td>
      <td style="padding-left: 28.7pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Second Amended and Restated Certificate of Incorporation.</span></td>
      <td style="padding-left: 9.75pt">&#160;</td>
      <td style="padding-left: 9.75pt"><span style="font-size: 10pt"><a href="http://www.sec.gov/Archives/edgar/data/1844817/000095015921000262/ex3-1.htm" style="-sec-extract: exhibit">Previously filed as an exhibit to our Current Report on Form 8-K filed on August 18, 2021 and incorporated by reference herein.</a></span></td></tr>
  </table>
  
  <p style="margin: 0">&#160;</p>
  
  <p style="margin: 0"></p>
  
  <!-- Field: Page; Sequence: 28 -->
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      <div style="break-before: page; margin-top: 6pt"><table cellpadding="0" cellspacing="0" style="width: 100%"><tr><td style="font-size: 8pt; text-align: left; width: 100%"><i><a href="#TOC">Table of Contents</a></i></td></tr></table></div>
      <!-- Field: /Page -->
  
  <p style="margin: 0">&#160;</p>
  
  <p style="margin: 0">&#160;</p>
  
  <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <tr style="vertical-align: top; background-color: rgb(204,238,255)">
      <td style="text-align: center; width: 9%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.2</span></td>
      <td style="white-space: nowrap; padding-bottom: 8pt; line-height: 107%; width: 1%">&#160;</td>
      <td style="padding-left: 28.7pt; width: 49%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bylaws.</span></td>
      <td style="padding-left: 9.75pt; width: 1%">&#160;</td>
      <td style="padding-left: 9.75pt; width: 40%"><span style="font-size: 10pt"><a href="http://www.sec.gov/Archives/edgar/data/1844817/000095015921000185/ex3-3.htm" style="-sec-extract: exhibit">Previously filed as an exhibit to our Registration Statement on Form S-1 on July 2, 2021 and incorporated by reference herein.</a></span></td></tr>
    <tr style="vertical-align: top; background-color: White">
      <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.1</span></td>
      <td style="white-space: nowrap; padding-bottom: 8pt; line-height: 107%">&#160;</td>
      <td style="padding-left: 28.7pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Warrant Agreement, dated August 12, 2021, by and between the Company and Continental Stock Transfer &amp; Trust Company (&#8220;CST&#8221;), as warrant agent.</span></td>
      <td style="padding-left: 9.75pt">&#160;</td>
      <td style="padding-left: 9.75pt"><span style="font-size: 10pt"><a href="http://www.sec.gov/Archives/edgar/data/1844817/000095015921000262/ex4-1.htm" style="-sec-extract: exhibit">Previously filed as an exhibit to our Current Report on Form 8-K filed on August 18, 2021 and incorporated by reference herein.</a></span></td></tr>
    <tr style="vertical-align: top; background-color: rgb(204,238,255)">
      <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.1</span></td>
      <td style="white-space: nowrap; padding-bottom: 8pt; line-height: 107%">&#160;</td>
      <td style="padding-left: 28.7pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investment Management Trust Agreement, dated August 12, 2021, by and between the Company and CST, as trustee.</span></td>
      <td style="padding-left: 9.75pt">&#160;</td>
      <td style="padding-left: 9.75pt"><span style="font-size: 10pt"><a href="http://www.sec.gov/Archives/edgar/data/1844817/000095015921000262/ex10-2.htm" style="-sec-extract: exhibit">Previously filed as an exhibit to our Current Report on Form 8-K filed on August 18, 2021 and incorporated by reference herein.</a></span></td></tr>
    <tr style="vertical-align: top; background-color: White">
      <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.2</span></td>
      <td style="white-space: nowrap; padding-bottom: 8pt; line-height: 107%">&#160;</td>
      <td style="padding-left: 28.7pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Registration Rights Agreement, dated August 12, 2021, by and between the Company, its officers, its directors, Armada Sponsor LLC (the &#8220;Sponsor&#8221;) and EarlyBirdCapital, Inc.</span></td>
      <td style="padding-left: 9.75pt">&#160;</td>
      <td style="padding-left: 9.75pt"><span style="font-size: 10pt"><a href="http://www.sec.gov/Archives/edgar/data/1844817/000095015921000262/ex10-3.htm" style="-sec-extract: exhibit">Previously filed as an exhibit to our Current Report on Form 8-K filed on August 18, 2021 and incorporated by reference herein.</a></span></td></tr>
    <tr style="vertical-align: top; background-color: rgb(204,238,255)">
      <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.3</span></td>
      <td style="white-space: nowrap; padding-bottom: 8pt; line-height: 107%">&#160;</td>
      <td style="padding-left: 28.7pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Private Placement Shares Purchase Agreement, dated August 12, 2021, by and between the Company and the Sponsor.</span></td>
      <td style="padding-left: 9.75pt">&#160;</td>
      <td style="padding-left: 9.75pt"><span style="font-size: 10pt"><a href="http://www.sec.gov/Archives/edgar/data/1844817/000095015921000262/ex10-5.htm" style="-sec-extract: exhibit">Previously filed as an exhibit to our Current Report on Form 8-K filed on August 18, 2021 and incorporated by reference herein.</a></span></td></tr>
    <tr style="vertical-align: top; background-color: White">
      <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.4</span></td>
      <td style="white-space: nowrap; padding-bottom: 8pt; line-height: 107%">&#160;</td>
      <td style="padding-left: 28.7pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Letter Agreement, dated August 12, 2021, by and among the Company, its officers, its directors, and the Sponsor.</span></td>
      <td style="padding-left: 9.75pt">&#160;</td>
      <td style="padding-left: 9.75pt"><span style="font-size: 10pt"><a href="http://www.sec.gov/Archives/edgar/data/1844817/000095015921000262/ex10-1.htm" style="-sec-extract: exhibit">Previously filed as an exhibit to our Current Report on Form 8-K filed on August 18, 2021 and incorporated by reference herein.</a></span></td></tr>
    <tr style="vertical-align: top; background-color: rgb(204,238,255)">
      <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.5</span></td>
      <td style="white-space: nowrap; padding-bottom: 8pt; line-height: 107%">&#160;</td>
      <td style="padding-left: 28.7pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Administrative Services Agreement, dated August 12, 2021, by and between the Company and the Sponsor.</span></td>
      <td style="padding-left: 9.75pt">&#160;</td>
      <td style="padding-left: 9.75pt"><span style="font-size: 10pt"><a href="http://www.sec.gov/Archives/edgar/data/1844817/000095015921000262/ex10-4.htm" style="-sec-extract: exhibit">Previously filed as an exhibit to our Current Report on Form 8-K filed on August 18, 2021 and incorporated by reference herein.</a></span></td></tr>
    <tr style="vertical-align: top; background-color: White">
      <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.6</span></td>
      <td style="white-space: nowrap; padding-bottom: 8pt; line-height: 107%">&#160;</td>
      <td style="padding-left: 28.7pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock Escrow Agreement, dated August 12, 2021, by and between the Company, its directors, its officers, the Sponsor and CST.</span></td>
      <td style="padding-left: 9.75pt">&#160;</td>
      <td style="padding-left: 9.75pt"><span style="font-size: 10pt"><a href="http://www.sec.gov/Archives/edgar/data/1844817/000095015921000262/ex10-6.htm" style="-sec-extract: exhibit">Previously filed as an exhibit to our Current Report on Form 8-K filed on August 18, 2021 and incorporated by reference herein.</a></span></td></tr>
    <tr style="vertical-align: top; background-color: rgb(204,238,255)">
      <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.7</span></td>
      <td style="white-space: nowrap; padding-bottom: 8pt; line-height: 107%">&#160;</td>
      <td style="padding-left: 28.7pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Business Combination Marketing Agreement, dated August 12, 2021, by and between the Company and Northland.</span></td>
      <td style="padding-left: 9.75pt">&#160;</td>
      <td style="padding-left: 9.75pt"><span style="font-size: 10pt"><a href="http://www.sec.gov/Archives/edgar/data/1844817/000095015921000262/ex10-7.htm" style="-sec-extract: exhibit">Previously filed as an exhibit to our Current Report on Form 8-K filed on August 18, 2021 and incorporated by reference herein.</a></span></td></tr>
    <tr style="vertical-align: top; background-color: White">
      <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">31.1</span></td>
      <td style="white-space: nowrap; padding-bottom: 8pt; line-height: 107%">&#160;</td>
      <td style="padding-left: 28.7pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certification of Principal Executive Officer Pursuant to Securities Exchange Act Rules 13a-14(a) and 15(d)-14(a), as adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.</span></td>
      <td style="padding-left: 9.75pt">&#160;</td>
      <td style="padding-left: 9.75pt"><span style="font-size: 10pt">Filed herewith.</span></td></tr>
    <tr style="vertical-align: top; background-color: rgb(204,238,255)">
      <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">31.2</span></td>
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      <td style="padding-left: 28.7pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certification of Principal Financial Officer Pursuant to Securities Exchange Act Rules 13a-14(a) and 15(d)-14(a), as adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.</span></td>
      <td style="padding-left: 9.75pt">&#160;</td>
      <td style="padding-left: 9.75pt"><span style="font-size: 10pt">Filed herewith.</span></td></tr>
    <tr style="vertical-align: top; background-color: White">
      <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">32.1</span></td>
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      <td style="padding-left: 28.7pt"><span style="font-size: 10pt">Certification of Principal Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.</span></td>
      <td style="padding-left: 9.75pt">&#160;</td>
      <td style="padding-left: 9.75pt"><span style="font-size: 10pt">Filed herewith.</span></td></tr>
    <tr style="vertical-align: top; background-color: rgb(204,238,255)">
      <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">32.2</span></td>
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      <td style="padding-left: 28.7pt"><span style="font-size: 10pt">Certification of Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.</span></td>
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    <tr style="vertical-align: top; background-color: White">
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      <td style="white-space: nowrap; padding-bottom: 8pt; line-height: 107%">&#160;</td>
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  <p style="margin: 0">&#160;</p>
  
  <p style="margin: 0"></p>
  
  <!-- Field: Page; Sequence: 29 -->
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      <!-- Field: /Page -->
  
  <p style="margin: 0">&#160;</p>
  
  <p style="margin: 0">&#160;</p>
  
  <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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      <td style="white-space: nowrap; padding-bottom: 8pt; line-height: 107%">&#160;</td>
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    <tr style="vertical-align: top; background-color: White">
      <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">104</span></td>
      <td style="white-space: nowrap; padding-bottom: 8pt; line-height: 107%">&#160;</td>
      <td style="padding-left: 28.7pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cover Page Interactive Data File (embedded within the Inline XBRL document and included in Exhibit 101).</span></td>
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      <td style="padding-left: 9.75pt"><span style="font-size: 10pt">Filed herewith.</span></td></tr>
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  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 3pt">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span id="signatures"></span><b>SIGNATURES</b></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In accordance with the requirements
  of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</p>
  
  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
  
  <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <tr style="vertical-align: top">
      <td style="padding-top: 0.25pt; padding-right: 0.25pt; padding-left: 0.25pt">&#160;</td>
      <td colspan="2" style="padding-top: 0.25pt; padding-right: 0.25pt; padding-left: 0.25pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ARMADA ACQUISITION CORP. I</b></span></td></tr>
    <tr style="vertical-align: top">
      <td style="width: 60%; padding-top: 0.25pt; padding-right: 0.25pt; padding-left: 0.25pt">&#160;</td>
      <td style="width: 5%; padding-top: 0.25pt; padding-right: 0.25pt; padding-left: 0.25pt">&#160;</td>
      <td style="width: 35%; padding-top: 0.25pt; padding-right: 0.25pt; padding-left: 0.25pt">&#160;</td></tr>
    <tr>
      <td style="vertical-align: top; padding-top: 0.25pt; padding-right: 0.25pt; padding-left: 0.25pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date: February [&#160;&#160;&#160;&#160;], 2022</span></td>
      <td style="vertical-align: top; padding-top: 0.25pt; padding-right: 0.25pt; padding-left: 0.25pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</span></td>
      <td style="border-bottom: black 1.5pt solid; vertical-align: bottom; padding-top: 0.25pt; padding-right: 0.25pt; padding-left: 0.25pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Stephen P. Herbert</span></td></tr>
    <tr>
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      <td style="vertical-align: top; padding-top: 0.25pt; padding-right: 0.25pt; padding-left: 0.25pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:&#160;</span></td>
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    <tr>
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      <td style="vertical-align: top; padding-top: 0.25pt; padding-right: 0.25pt; padding-left: 0.25pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</span></td>
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      <td style="vertical-align: top; padding-top: 0.25pt; padding-right: 0.25pt; padding-left: 0.25pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</span></td>
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    <tr style="vertical-align: top">
      <td style="padding-top: 0.25pt; padding-right: 0.25pt; padding-left: 0.25pt">&#160;</td>
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      <td style="padding-top: 0.25pt; padding-right: 0.25pt; padding-left: 0.25pt">&#160;</td>
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text: UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  Washington, D.C. 20549
  FORM
  10-Q
  (Mark One)
  ☒
  QUARTERLY REPORT PURSUANT TO SECTION 13
  OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
  For the quarterly period ended
  December 31, 2021
  ☐
  TRANSITION REPORT PURSUANT TO SECTION 13
  OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
  For the transition period from               to
  Commission File No.
  001-40742
  Armada Acquisition Corp. I
  (Exact name of registrant as specified in its charter)
  Delaware
  85-3810850
  (State or other jurisdiction of
  incorporation or organization)
  (I.R.S. Employer
  Identification No.)
  2005 Market Street
  ,
  Suite 3120
  Philadelphia
  ,
  PA
  1910
  (Address of Principal Executive Offices, including zip code)
  (
  215
  )
  543-6886
  (Registrant's telephone number, including area code)
  N/A
  (Former name, former address and former fiscal year, if changed since last report)
  Securities registered pursuant
  to Section 12(b) of the Act:
  Title of each class
  Trading Symbol(s)
  Name of each exchange on which registered
  Units, each consisting of one share of Common Stock and one-half of one Redeemable Warrant
  AACIU
  The Nasdaq Stock Market LLC
  Common Stock, par value $0.0001 per share
  AACI
  The Nasdaq Stock Market LLC
  Warrants, each exercisable for one share of Common Stock for $11.50 per share
  AACIW
  The Nasdaq Stock Market LLC
  Indicate by check mark whether
  the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the
  preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such
  filing requirements for the past 90 days.
  Yes
  ☒   No ☐
  Indicate by check mark whether
  the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T
  (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit
  such files).
  Yes
  ☒   No ☐
  Indicate by check mark whether
  the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging
  growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting
  company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.
  ☐ Large accelerated filer
  ☐ Accelerated filer
  ☒
  Non-accelerated filer
  ☒
  Smaller reporting company
  ☒
  Emerging growth company
  If an emerging growth company,
  indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
  accounting standards provided pursuant to Section 13(a) of the Exchange Act.
  ☐
  Indicate by check mark whether
  the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act):
  Yes
  ☒   No ☐
  At
  February 4, 2022, there were
  20,709,500
  shares of Common Stock, $0.0001 par value per share ("Common Stock"), issued
  and outstanding which includes shares of Common Stock underlying the Units sold in the registrant's initial public offering and
  of which
  20,536,893
  shares of Common stock trade separately.
  ARMADA ACQUISITION CORP. I
  Quarterly Report on Form 10-Q
  Table of Contents
  PART I. FINANCIAL INFORMATION
  Item 1.
  Financial Statements
  1
  Unaudited
      Condensed Balance Sheets as of December 31, 20
  21 and September 30, 2021
  1
  Unaudited Condensed Statement of Operations for the Three Months ended December 31, 2021
  2
  Unaudited Condensed Statement of Changes in Stockholders' Equity (Deficit) for the three months ended December 31, 2021
  3
  Unaudited Condensed Statement of Cash Flows for the Three Months ended December 31, 2021
  4
  Notes to Unaudited Condensed Financial Statements
  5
  Item 2.
  Management's Discussion and Analysis of Financial Condition and Results of Operations
  17
  Item 3.
  Quantitative and Qualitative Disclosures About Market Risk
  23
  Item 4.
  Controls and Procedures
  23
  PART II. OTHER INFORMATION
  Item 1.
  Legal Proceedings
  24
  Item 1A.
  Risk Factors
  24
  Item 2.
  Unregistered Sales of Equity Securities and Use of Proceeds
  25
  Item 3.
  Defaults Upon Senior Securities
  25
  Item 4.
  Mine Safety Disclosures
  25
  Item 5.
  Other Information
  25
  Item 6.
  Exhibits
  25
  SIGNATURES
  27
  i
  PART I
  - FINANCIAL INFORMATION
  Item 1.
  Financial Statements.
  ARMADA ACQUISITION
  CORP. I
  BALANCE SHEETS
  December 31, 2021
  (Unaudited)
  September 30, 2021
  Assets
  Cash
  $
  419,700
  $
  657,590
  Prepaid expenses
  340,288
  259,580
  Total current assets
  $
  759,988
  $
  917,170
  Prepaid expenses
  —
  201,282
  Investment held in Trust Account
  150,003,896
  150,001,052
  Total Assets
  $
  150,763,884
  $
  151,119,504
  Liabilities, Common Stock Subject to Possible Redemption and Stockholders' Equity (Deficit)
  Current liabilities:
  Accounts payable and accrued expenses
  $
  1,787,307
  $
  93,467
  Taxes payable
  74,251
  25,671
  Accrued offering costs
  —
  89,889
  Total current liabilities
  1,861,558
  209,027
  Commitments and Contingencies (Note 6)
  Common stock subject to possible redemption,
  15,000,000
  shares at redemption value of $
  10
  per share
  150,000,000
  150,000,000
  Stockholders' Equity (Deficit):
  Preferred stock, $
  0.0001
  par value;
  1,000,000
  shares authorized;
  none
  issued or outstanding
  —
  —
  Common stock, $
  0.0001
  par
  value;
  100,000,000
  shares authorized;
  5,709,500
  and
  6,834,500
  shares issued and outstanding excluding 15,000,000 shares subject to possible redemption
  570
  683
  Additional paid-in capital
  1,406,769
  1,378,693
  Accumulated deficit
  (
  2,505,013
  )
  (
  468,899
  )
  Total stockholders' equity (deficit)
  (
  1,097,674
  )
  910,477
  Total Liabilities, Common Stock Subject to Possible Redemption and Stockholders' Equity (Deficit)
  $
  150,763,884
  $
  151,119,504
  The accompanying notes
  are an integral part of these unaudited condensed financial statements.
  1
  Table of Contents
  ARMADA ACQUISITION
  CORP. I
  UNAUDITED CONDENSED STATEMENT OF OPERATIONS
  FOR THE THREE MONTHS ENDED DECEMBER 31, 2021
  Formation and operating costs
  $
  2,010,995
  Stock-based compensation
  27,963
  Loss from operations
  (
  2,038,958
  )
  Other income
  Trust interest income
  2,844
  Total other income
  2,844
  Net loss
  $
  (
  2,036,114
  )
  Basic and diluted weighted average shares outstanding
  20,709,500
  Basic and diluted net loss per share
  $
  (
  0.10
  )
  The accompanying notes are
  an integral part of these unaudited condensed financial statements.
  2
  Table of Contents
  ARMADA ACQUISITION
  CORP. I
  UNAUDITED CONDENSED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIT)
  FOR THE THREE MONTHS ENDED DECEMBER 31, 2021
  Common Stock
  Additional
  Accumulated
  Total Stockholders'
  Shares
  Amount
  Paid-in Capital
  Deficit
  Equity (Deficit)
  Balance as of September 31, 2020
  6,834,500
  $
  683
  $
  1,378,693
  $
  (
  468,899
  )
  $
  910,477
  Forfeiture of founder shares
  (
  1,125,000
  )
  (
  113
  )
  113
  —
  —
  Stock-based compensation
  —
  —
  27,963
  —
  27,963
  Net loss
  —
  —
  —
  (
  2,036,114
  )
  (
  2,036,114
  )
  Balance as of December 31, 2021 (unaudited)
  5,709,500
  $
  571
  $
  1,406,768
  $
  (
  2,505,013
  )
  $
  (
  1,097,674
  )
  The accompanying notes are an integral part of these
  unaudited condensed financial statements.
  3
  Table of Contents
  ARMADA ACQUISITION
  CORP. I
  UNAUDITED CONDENSED STATEMENT OF CASH FLOWS
  FOR THE THREE MONTHS ENDED DECEMBER 31, 2021
  Cash Flows from Operating Activities:
  Net loss
  $
  (
  2,036,114
  )
  Adjustments to reconcile net loss to net cash used in operating activities:
  Interest earned on investments held in Trust Account
  (
  2,844
  )
  Stock-based compensation
  27,963
  Changes in current assets and liabilities:
  Prepaid expenses
  120,574
  Accounts payable and accrued expenses
  1,603,681
  Franchise tax payable
  48,850
  Net cash used in operating activities
  (
  237,890
  )
  Net change in cash
  (
  237,890
  )
  Cash, September 30, 2021
  657,590
  Cash, end of the period
  $
  419,700
  The accompanying notes are an integral part
  of these unaudited condensed financial statements.
  4
  Table of Contents
  ARMADA ACQUISITION
  CORP. I
  NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS
  December 31, 2021
  Note 1 —
  Organization,
  Business Operations and Going Concern
  Armada Acquisition
  Corp. I (the "Company") is a newly organized blank check company incorporated as a Delaware corporation on
  November 5,
  2020
  . The Company was incorporated for the purpose of effecting a merger, stock exchange, asset acquisition, stock purchase, reorganization
  or other similar business combination with one or more businesses (the "Business Combination"). The Company has engaged in
  preliminary discussions with potential business combination targets but has not yet selected a target business with which to consummate
  an initial business combination. The Company intends to concentrate its efforts identifying businesses in the financial services industry
  with particular emphasis on businesses that are providing or changing technology for traditional financial services.
  As of December
  31, 2021, the Company had not commenced any operations. All activity for the period from November 5, 2020 (inception) through December
  31, 2021 relates to the Company's formation and the initial public offering (the "IPO") described below, and since the
  closing of the IPO, the search for a prospective initial Business Combination. The Company will not generate any operating revenues until
  after the completion of its initial Business Combination, at the earliest. The Company will generate non-operating income in the form
  of interest income on cash and cash equivalents from the proceeds derived from the IPO.
  The Company's
  sponsor is Armada Sponsor LLC (the "Sponsor").
  The registration
  statement for the Company's IPO was declared effective on August 12, 2021 (the "Effective Date"). On August 17, 2021,
  the Company commenced the IPO of
  15,000,000
  units at $
  10.00
  per unit (the "Units"), which is discussed in Note
  3 (the "Initial Public Offering").
  Simultaneously
  with the consummation of the IPO, the Company consummated the private placement of
  459,500
  shares of common stock ("Private
  Shares"), at a price of $
  10.00
  per share for an aggregate purchase price of $
  4,595,000
  .
  Transaction
  costs amounted to $
  3,537,515
  consisting of $
  1,500,000
  of underwriting commissions, and $
  2,037,515
  of other offering costs.
  Following the
  closing of the IPO on August 17, 2021 after releasing funds to the Company to be held outside of the Trust, $
  150,000,000
  ($
  10.00
  per
  Unit) from the net proceeds of the sale of the Units in the IPO was held in a Trust Account ("Trust Account") and has been
  invested only in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act of 1940, as
  amended (the "Investment Company Act"), having a maturity of
  185
  days or less or in money market funds meeting certain
  conditions under Rule 2a-7 promulgated under the Investment Company Act which invest only in direct U.S. government treasury obligations.
  Except with respect to interest earned on the funds held in the Trust Account that may be released to the Company to pay income tax obligations,
  the proceeds from the IPO and the sale of the Private Shares will not be released from the Trust Account until the earlier of the completion
  of a Business Combination or the Company's redemption of
  100
  % of the outstanding public shares if it has not completed a Business
  Combination in the required time period The proceeds held in the Trust Account may be used as consideration to pay the sellers of a target
  business with which the Company completes a Business Combination. Any amounts not paid as consideration to the sellers of the target business
  may be used to finance operations of the target business.
  The Company's
  management has broad discretion with respect to the specific application of the net proceeds of the IPO and the sale of Private Shares,
  although substantially all of the net proceeds are intended to be applied generally toward consummating a Business Combination.
  The Company
  must complete one or more initial Business Combinations having an aggregate fair market value of at least
  80
  % of the value of the
  assets held in the trust account (as defined below) (excluding deferred underwriting commissions and taxes payable) at the time of the
  agreement to enter into the initial Business Combination. However, the Company will only complete a Business Combination if the post-transaction
  company owns or acquires
  50
  % or more of the 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 complete a Business Combination successfully.
  5
  Table of Contents
  In connection
  with any proposed Business Combination, the Company will either (1) seek stockholders approval of the initial Business Combination at
  a meeting called for such purpose at which stockholders may seek to redeem their shares, regardless of whether they vote for or against
  the proposed Business Combination or don't vote at all, into their pro rata share of the aggregate amount then on deposit in the
  Trust Account (net of taxes payable), or (2) provide its stockholders with the opportunity to sell their shares to the Company by means
  of a tender offer (and thereby avoid the need for a stockholder vote) for an amount equal to their pro rata share of the aggregate amount
  then on deposit in the Trust Account (net of taxes payable), in each case subject to the limitations described herein. The decision as
  to whether the Company will seek stockholders approval of a proposed Business Combination or will allow stockholders to sell their shares
  to the Company in a tender offer will be made by the Company, solely in its discretion.
  The shares of
  common stock subject to redemption are recorded at a redemption value and classified as temporary equity upon the completion of the IPO,
  in accordance with 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.
  The Company
  will have
  15
  months (or
  18
  months if extended) from the closing of the IPO to complete the initial Business Combination
  (the "Combination Period"). However, if the Company is unable to complete the 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 ten business days thereafter, redeem
  100
  % of the outstanding public shares, at a per-share price, payable in cash, equal
  to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account and not
  previously released to the Company but net of taxes payable (and less up to $
  50,000
  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), subject to applicable law, and (iii) as promptly as reasonably
  possible following such redemption, subject to the approval of the Company's remaining stockholders and the Company's board
  of directors, liquidate and dissolve, subject (in the case of (ii) and (iii) above) to the Company's obligations under Delaware
  law to provide for claims of creditors and the requirements of other applicable law.
  The Sponsor,
  officers and directors have agreed (i) to vote any shares owned by them in favor of any proposed Business Combination, (ii) not to redeem
  any shares in connection with a stockholder vote to approve a proposed initial Business Combination or sell any shares to the Company
  in a tender offer in connection with a proposed initial Business Combination, (iii) that the founders' shares will not participate
  in any liquidating distributions from the Company's Trust Account upon winding up if a Business Combination is not consummated.
  The Sponsor
  has agreed that it will be liable to ensure that the proceeds in the Trust Account are not reduced below $
  10.00
  per share by the
  claims of target businesses or claims of vendors or other entities that are owed money by the Company for services rendered or contracted
  for or products sold to the Company. The agreement to be entered into by the Sponsor will specifically provide for two exceptions to the
  indemnity it has given: it will have no liability (1) as to any claimed amounts owed to a target business or vendor or other entity who
  has executed an agreement with the Company waiving any right, title, interest or claim of any kind they may have in or to any monies held
  in the Trust Account, or (2) as to any claims for indemnification by the underwriters of the IPO against certain liabilities, including
  liabilities under the Securities Act. However, the Company has not asked its Sponsor to reserve for such indemnification obligations,
  nor has it independently verified whether the Sponsor has sufficient funds to satisfy its indemnity obligations and believe that the Sponsor's
  only assets are securities of the Company. Therefore, the Company believes it is unlikely that the Sponsor will be able to satisfy its
  indemnification obligations if it is required to do so.
  6
  Table of Contents
  On December 17, 2021, the Company entered
  into a business combination agreement, with Rezolve Limited ("
  Rezolve
  "), Rezolve Group Limited ("
  Cayman NewCo
  "),
  and Rezolve Merger Sub, Inc., ("
  Rezolve Merger Sub
  ") (such business combination agreement, the "
  Business Combination
  Agreement
  ," and such business combination, the "
  Business Combination
  ").
  In connection with the execution
  of the definitive Business Combination Agreement, certain investors
  have agreed to purchase an aggregate
  of
  2,050,000
  ordinary shares of Cayman NewCo
  for the purchase price of $
  10.00
  per share, for an aggregate purchase price of $
  20.5
  million
  pursuant to certain subscription agreements (the "
  Subscription Agreements
  "). The obligations of each party
  under the subscription agreements are conditioned upon customary closing conditions and the consummation of the Business Combination.
  Concurrently
  with the execution and delivery of the Business Combination Agreement, Armada and the Key Company Shareholders (as defined in the Business
  Combination Agreement) have entered into the Transaction Support Agreement (the "
  Transaction Support Agreement
  "),
  pursuant to which, among other things, the Key Company Shareholders have agreed to (a) enter into the transfer and exchange agreement
  in order to effect the Company Reorganization, (b) vote in favor of the Business Combination Agreement and the agreements contemplated
  thereby and the transactions contemplated hereby, (c) enter into an Investor Rights Agreement at Closing and (d) the termination of certain
  agreements effective as of Closing.
  Liquidity
  and Going Concern
  The
  accompanying financial statements have been prepared assuming the Company will continue as a
  going
  concern
  ,
  which contemplates, among other things, the realization of assets and satisfaction of liabilities in the normal course of business.
  As of December
  31, 2021, the Company had $
  419,700
  its operating account and working capital deficiency of $
  1,101,570
  .
  In order to
  finance transaction costs in connection with a Business Combination, the Company's Sponsor or an affiliate of the Sponsor or certain
  of the Company's officers and directors may, but are not obligated to, provide the Company with Working Capital Loans, as defined
  below (see Note 5). As of December 31, 2021, there were no amounts outstanding under any Working Capital Loans.
  The
  Company has incurred and expects to continue to incur significant costs in pursuit of its acquisition plans.
  The
  Company's liquidity needs to date have been satisfied through the $
  36,045
  proceeds received from the sale of its Founder Shares
  (as defined below) to the Sponsor, the advances of $
  230,352
  from the Sponsor to cover the Company's offering costs in connection
  with the IPO, and the net proceeds from the consummation of the Private Placement not held in the Trust Account. The balance of the advances
  from Sponsor was fully repaid on August 17, 2021.
  In
  connection with the Company's assessment of going concern considerations in accordance with FASB Accounting Standards
  Update ("ASU") 2014-15, "Disclosures of Uncertainties about an Entity's Ability to Continue as a Going Concern,"
  management has determined that the Company has and will continue to incur significant costs in pursuit of its acquisition plans which
  raises substantial doubt about the Company's ability to continue as a going concern. No adjustments have been made to
  the carrying amounts of assets or liabilities should the Company be required to liquidate after November 17, 2022. The financial statements
  do not include any adjustment that might be necessary if the Company is unable to continue as a going concern.
  Risks
  and Uncertainties
  Management is
  continuing to evaluate the impact of the COVID-19 pandemic on the industry and has concluded that while it is reasonably possible that
  the pandemic could have a negative effect on the Company's financial position, results of its operations and/or that of Rezolve's
  or any other target company, the specific impact is not readily determinable as of the date of these unaudited condensed financial statements.
  The financial statements do not include any adjustments that might result from the outcome of this uncertainty.
  7
  Table of Contents
  Note 2 —
  Significant
  Accounting Policies
  Basis
  of Presentation
  The accompanying
  unaudited condensed financial statements are presented in conformity with accounting principles generally accepted in the United States
  of America ("US GAAP") and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission ("SEC").
  Accordingly, they do not include all of the information and footnotes required by US GAAP. In the opinion of management, the unaudited
  condensed financial statements reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement
  of the balances and results for the period presented. Operating results for the three months ended December 31, 2021 are not necessarily
  indicative of the results that may be expected through September 30, 2022.
  The accompanying
  unaudited condensed financial statements should be read in conjunction with the Company's Annual Report on Form 10-K, as filed with
  SEC on December 29, 2021.
  Emerging
  Growth Company Status
  The Company
  is an "emerging growth company," as defined in Section 2(a) of the Securities Act of 1933, as amended, (the "Securities
  Act"), as modified by the Jumpstart the Business Startups Act of 2012, (the "JOBS Act"), and it may take advantage of
  certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies
  including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley
  Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from
  the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments
  not previously approved.
  Further, Section
  102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards
  until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a
  class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards.
  The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply
  to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended
  transition period which means that when a standard is issued or revised and it has different application dates for public or private companies,
  the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised
  standard. This may make comparison of the Company's financial statements with another public company which is neither an emerging
  growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because
  of the potential differences in accounting standards used.
  Use of
  Estimates
  The preparation
  of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts
  of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported
  amounts of expenses during the reporting period. Actual results could differ from those estimates.
  Cash and Cash Equivalents
  The Company
  considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company
  had $
  419,700
  in cash and cash and cash equivalents investments of $
  150,003,896
  in its Trust Account as of December 31, 2021.
  8
  Table of Contents
  Investment
  Held in Trust Account
  As of December
  31, 2021, the assets held in the Trust Account were held in a money market fund. The Company's portfolio of investments held in
  the Trust Account is comprised of 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, investments in money market funds that invest in U.S. government securities, cash,
  or a combination thereof. The Company's investments held in the Trust Account are classified as trading securities. Trading securities
  are presented on the balance sheets at fair value at the end of each reporting period. Gains and losses resulting from the change in fair
  value of these securities is included in gain on Investments Held in Trust Account in the accompanying statement of operations. The estimated
  fair values of investments held in the Trust Account are determined using available market information and are characterized as Level
  1 investments within the fair value hierarchy under ASC 820 (as described below).
  Fair
  Value Measurements
  Fair
  value is defined as the price that would be received for sale of an asset or paid for transfer of a liability, in an orderly transaction
  between market participants at the measurement date. GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs
  used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets
  or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include:
  ●
  Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets;
  ●
  Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and
  ●
  Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.
  In some
  circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those
  instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that
  is significant to the fair value measurement.
  The fair value
  of certain of the Company's assets and liabilities, which qualify as financial instruments under ASC 820, "Fair Value Measurements
  and Disclosures," approximates the carrying amounts represented in the balance sheet. The fair values of cash, prepaid expenses,
  accrued offering costs and expenses, and amounts due to related parties are estimated to approximate the carrying values as of December
  31, 2021 due to the short maturities of such instruments.
  Concentration
  of Credit Risk
  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 Depository Insurance Corporation limit of $
  250,000
  . At December 31, 2021, the Company has not experienced
  losses on this account and management believes the Company is not exposed to significant risks on such account.
  9
  Table of Contents
  Offering
  Costs Associated with IPO
  The Company
  complies with the requirements of ASC 340-10-S99-1 and SEC Staff Accounting Bulletin Topic 5A—"Expenses of Offering".
  Offering costs consist of legal, accounting, underwriting and other costs incurred through the balance sheet date that are related to
  the IPO. The Company incurred offering costs amounting to $
  3,537,515
  as a result of the IPO consisting of $
  1,500,000
  underwriting
  commissions, and $
  2,037,515
  of other offering costs.
  Common
  Stock Subject to Possible Redemption
  The Company
  accounts for its common stock subject to possible redemption in accordance with the guidance in ASC Topic 480 "Distinguishing Liabilities
  from Equity." Common stock subject to mandatory redemption (if any) are classified as a liability instrument and measured at fair
  value. Conditionally redeemable common stock (including common stock that feature redemption rights that are either within the control
  of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company's control) are classified
  as temporary equity. At all other times, common stock are classified as stockholders' equity. The Company's shares of common
  stock feature certain redemption rights that are considered to be outside of the Company's control and subject to the occurrence
  of uncertain future events. Accordingly,
  15,000,000
  shares of common stock subject to possible redemption are presented at redemption
  value as temporary equity, outside of the stockholders' equity section of the Company's balance sheet.
  The Company
  recognizes changes in redemption value immediately as they occur. Immediately upon the closing of the IPO, the Company recognized the
  remeasurement adjustment from initial carrying amount to redemption book value. The change in the carrying value of redeemable common
  stock resulted in charges against additional paid-in capital.
  Net
  Loss Per Common Stock
  The Company
  complies with accounting and disclosure requirements of FASB ASC Topic 260, "Earnings Per Share". Net loss per common stock
  is computed by dividing net loss by the weighted average number of common stock outstanding for the period. Remeasurement adjustments
  associated with the redeemable shares of common stock is excluded from earnings per share as the redemption value approximates fair value.
  The calculation
  of diluted loss per share does not consider the effect of the warrants issued in connection with the IPO because the warrants are contingently
  exercisable, and the contingencies have not yet been met. The warrants are exercisable to purchase
  7,500,000
  shares of common stock in
  the aggregate. As of December 31, 2021, the Company did not have any dilutive securities or other contracts that could, potentially, be
  exercised or converted into common stock and then share in the earnings of the Company. As a result, diluted net loss per common stock
  is the same as basic net loss per common stock for the period presented.
  Accretion of
  the carrying value of common stock subject to redemption value is excluded from net loss per common stock because the redemption value
  approximates fair value.
  10
  Table of Contents
  For the three months ended December 31, 2021
  Subject to
  redemption
  Not Subject to
  redemption
  Basic and diluted net loss per share
  Numerator:
  Allocation of net loss
  $
  (
  1,474,768
  )
  $
  (
  561,346
  )
  Denominator
  Weighted-average shares outstanding
  15,000,000
  5,709,500
  Basic and diluted net loss per share
  $
  (
  0.10
  )
  $
  (
  0.10
  )
  Income
  Taxes
  The Company
  accounts for income taxes under ASC 740 Income Taxes ("ASC 740"). ASC 740 requires the recognition of deferred tax assets
  and liabilities for both the expected impact of differences between the financial statement and tax basis of assets and liabilities and
  for the expected future tax benefit to be derived from tax loss and tax credit carry forwards. ASC 740 additionally requires a valuation
  allowance to be established when it is more likely than not that all or a portion of deferred tax assets will not be realized.
  ASC 740 also
  clarifies the accounting for uncertainty in income taxes recognized in an enterprise's financial statements and prescribes a recognition
  threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken
  in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by
  taxing authorities. ASC 740 also provides guidance on derecognition, classification, interest and penalties, accounting in interim period,
  disclosure and transition.
  The Company
  recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits
  and no amounts accrued for interest and penalties as of December 31, 2021. The Company is currently not aware of any issues under review
  that could result in significant payments, accruals or material deviation from its position.
  The Company
  has identified the United States as its only "major" tax jurisdiction.
  The Company
  may be subject to potential examination by federal and state taxing authorities in the areas of income taxes since inception. These potential
  examinations may include questioning the timing and amount of deductions, the nexus of income among various tax jurisdictions and compliance
  with federal and state tax laws. The Company's management does not expect that the total amount of unrecognized tax benefits will
  materially change over the next twelve months.
  The provision
  for income taxes was deemed to be immaterial for the three months ended December 31, 2021.
  Recent
  Accounting Pronouncements
  In August 2020,
  the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2020-06, Debt —
  Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging — Contracts in Entity's Own Equity (Subtopic
  815-40) ("ASU 2020-06") to simplify accounting for certain financial instruments. ASU 2020-06 eliminates the current models
  that require separation of beneficial conversion and cash conversion features from convertible instruments and simplifies the derivative
  scope exception guidance pertaining to equity classification of contracts in an entity's own equity. The new standard also introduces
  additional disclosures for convertible debt and freestanding instruments that are indexed to and settled in an entity's own equity.
  ASU 2020-06 amends the diluted earnings per share guidance, including the requirement to use the if-converted method for all convertible
  instruments. ASU 2020-06 is effective January 1, 2022 and should be applied on a full or modified retrospective basis, with early adoption
  permitted beginning on January 1, 2021. The Company is currently assessing the impact, if any, that ASU 2020-06 would have on its financial
  position, results of operations or cash flows.
  11
  Table of Contents
  Management does
  not believe that any recently issued, but not effective, accounting pronouncements, if currently adopted, would have a material effect
  on the Company's unaudited condensed financial statements.
  Stock
  Based Compensation
  On June 16,
  2021, the Sponsor transferred
  50,000
  shares to each of its Chief Executive Officer and to its President and
  35,000
  shares
  to each of its
  three
  independent directors. The aggregate fair value of these shares was $
  509,552
  at issuance. For the
  three months ended December 31, 2021, $
  27,963
  compensation expense was recognized related to these shares that were vested.
  Note 3 —
  Initial
  Public Offering
  On August 17,
  2021, the Company consummated its IPO of
  15,000,000
  Units, at a price of $
  10.00
  per Unit.
  Each Unit consists of one
  share of common stock and one-half of one redeemable warrant.
  Each whole warrant entitles the holder to purchase one share of common stock
  at a price of $
  11.50
  per share, subject to adjustment. Only whole warrants are exercisable. No fractional warrants will be issued
  upon separation of the units and only whole warrants will trade.
  The warrants
  will become exercisable
  30
  days after the completion of the initial Business Combination, and will expire
  five
  years after
  the completion of the initial Business Combination or earlier upon redemption or liquidation (see Note 7).
  Following the
  closing of the IPO and settlement of funds on August 17, 2021, $
  150,000,000
  ($
  10.00
  per Unit) from the net proceeds of the sale
  of the Units in the IPO and the sales of Private Shares was placed in the Trust Account and was invested only in 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 which invest only in direct U.S. government treasury obligations.
  Note 4 —
  Private
  Placement
  Simultaneously
  with the closing of the IPO, the Company's Sponsor purchased an aggregate of
  459,500
  Private Shares, at a price of $
  10.00
  per
  Private Share, for an aggregate purchase price of $
  4,595,500
  in a private placement. The proceeds from the sale of the Private Shares
  was added to the proceeds of the IPO and placed in a U.S.-based trust account. If the Company does not complete an initial Business Combination
  within 15 months (or 18 months if extended) from the closing of the IPO, the proceeds from the sale of the Private Shares will be included
  in the liquidating distribution to the public stockholders and the Private Shares will be worthless.
  Note
  5 —
  Related Party Transactions
  Founder
  Shares
  On February
  3, 2021, the Sponsor paid $
  25,000
  , or approximately $
  0.006
  per share, to cover certain offering costs in consideration for
  4,312,500
  shares
  of common stock, par value $
  0.0001
  . On June 16, 2021, the Sponsor purchased an additional
  700,000
  shares of common stock at
  a purchase price of $
  0.006
  per share, or an aggregate $
  4,070
  , and transferred
  50,000
  shares to its Chief Executive Officer
  and to its President and
  35,000
  shares to each of its
  three
  independent directors. On July 23, 2021, the Sponsor purchased
  an additional
  1,200,000
  shares of common stock at a purchase price of $
  0.006
  per share, or an aggregate $
  6,975
  , resulting
  in the Sponsor holding an aggregate of
  6,007,500
  shares of common stock and the Chief Executive Officer, President and independent
  directors holding an aggregate of
  205,000
  shares of common stock (such shares, collectively, the "Founder Shares").
  The Founder Shares included an aggregate of up to
  1,125,000
  shares subject to forfeiture by the Sponsor to the extent that the
  underwriters' over-allotment option was not exercised in full or in part. On October 1, 2021 the underwriters' over-allotment
  option expired unused resulting in
  1,125,000
  founder shares forfeited to the Company for no consideration.
  The Sponsor,
  officers and directors have agreed not to transfer, assign or sell any Founder Shares held by them until the earliest of (A)
  180
  days
  after the completion of the initial Business Combination and (B) subsequent to the initial Business Combination, the date on which the
  Company completes a liquidation, merger, stock exchange, reorganization or other similar transaction that results in all of the public
  stockholders having the right to exchange their public shares for cash, securities or other property.
  12
  Table of Contents
  Additionally,
  upon consummation of the IPO, the Sponsor sold membership interests in the Sponsor to
  10
  anchor investors that purchased
  9.9
  % of
  the units sold in the IPO. The Sponsor sold membership interests in the Sponsor entity reflecting an allocation of
  131,250
  Founder
  Shares to each anchor investor, or an aggregate of
  1,312,500
  Founder Shares to all 10 anchor investors, at a purchase
  price of approximately $
  0.006
  per share. The Company estimated the aggregate fair value of these founder shares attributable to each
  anchor investor to be $
  424,491
  , or $
  3.23
  per share. The Company has offset the excess of the fair value against the gross proceeds
  from these anchor investors as a reduction in its additional paid-in capital in accordance with Staff Accounting Bulletin Topic 5A.
  Representative
  Common Stock
  On February
  8, 2021, EarlyBirdCapital, Inc. and Northland Securities, Inc. ("Northland") purchased
  162,500
  and
  87,500
  shares
  of common stock ("representative shares"), respectively, at an average purchase price of approximately $0.0001 per share,
  or an aggregate purchase price of $
  25.00
  . On May 29, 2021, Northland returned
  87,500
  shares of common stock to the Company,
  for no consideration, which were subsequently cancelled.
  The representative
  shares are identical to the public shares included in the Units being sold in the IPO, except that the representative shares are subject
  to certain transfer restrictions, as described in more detail below.
  The holders
  of the representative shares have agreed not to transfer, assign or sell any such shares until
  30
  days after the completion
  of an initial Business Combination. In addition, the holders of the representative shares have agreed (i) to waive their redemption rights
  (or right to participate in any tender offer) with respect to such shares in connection with the completion of an initial Business Combination
  and (ii) to waive their rights to liquidating distributions from the trust account with respect to such shares if the Company fails to
  complete an initial Business Combination within
  15
  months (or
  18
  months if extended) from the closing of the IPO.
  Promissory
  Note—Related Party
  On February
  3, 2021, the Sponsor agreed to loan the Company up to $
  300,000
  to be used for a portion of the expenses of the IPO. These loans are
  non-interest bearing, unsecured and are due at the earlier of
  October 31, 2021
  or the closing of the IPO. The Company borrowed
  $
  230,352
  under the promissory note and the Company repaid in full upon settlement of funds from the IPO on August 17, 2021.
  Working Capital Loans
  In order to
  meet the Company's working capital needs following the consummation of the IPO, the Sponsor, officers, directors or their affiliates
  may, but are not obligated to, loan the Company funds ("Working Capital Loans"), from time to time or at any time, in whatever
  amount they deem reasonable in their sole discretion. Each loan would be non-interest bearing and be evidenced by a promissory note. The
  notes would either be paid upon consummation of the initial Business Combination, without interest, or, at holder's discretion,
  up to $
  1,500,000
  of the notes may be converted into shares at a price of $
  10.00
  per share. The shares would be identical to
  the Private Shares. In the event that the initial Business Combination does not close, the Company may use a portion of the working capital
  held outside the Trust Account to repay such loaned amounts, but no proceeds from the Trust Account would be used for such repayment.
  Administrative
  Service Fee
  Commencing on
  the date of the IPO, the Company will pay the Sponsor $
  10,000
  per month for office space, utilities and secretarial support. Upon
  completion of the initial Business Combination or the Company's liquidation, the Company will cease paying these monthly fees. For
  the three months ended December 31, 2021, the Company incurred $
  30,000
  in administrative service fees.
  13
  Table of Contents
  Note 6 —
  Commitments
  & Contingencies
  Registration
  Rights
  The holders
  of the Founder Shares issued and outstanding on the date of the IPO, as well as the holders of the representative shares, Private Shares
  and any shares the Company's Sponsor, officers, directors or their affiliates may issue in payment of Working Capital Loans made
  to the Company, will be entitled to registration rights pursuant to an agreement to be signed prior to or on the effective date of the
  IPO. The holders of a majority of these securities (other than the holders of the representative shares) are entitled to make up to two
  demands that the Company registers such securities. The holders of the majority of the Founder Shares can elect to exercise these registration
  rights at any time commencing three months prior to the date on which these shares of common stock are to be released from escrow. The
  holders of a majority of the Private Shares and shares issued to the Company's Sponsor, officers, directors or their affiliates
  in payment of Working Capital Loans made to the Company can elect to exercise these registration rights at any time after the Company
  consummates a Business Combination. In addition, the holders have certain "piggy-back" registration rights with respect to
  registration statements filed subsequent to the Company's consummation of a Business Combination. The Company will bear the expenses
  incurred in connection with the filing of any such registration statements.
  Underwriting
  Agreement
  The Company
  granted the underwriters a
  45
  -day option from the date of the IPO to purchase up to an additional
  2,250,000
  units to cover
  over-allotments, if any.
  The underwriters
  were paid a cash underwriting discount of
  1.0
  % of the gross proceeds of the IPO, or $
  1,500,000
  (and are entitled to an
  additional $
  225,000
  of deferred underwriting commission payable at the time of an initial Business Combination if the underwriters'
  over-allotment is exercised in full). On October 1, 2021 the underwriters' over-allotment option expired unused resulting in the
  $
  225,000
  deferred underwriting commission to be not payable to the underwriter.
  Financial
  Advisory Fee
  The Company
  engaged Cohen & Company Capital Markets, a division of J.V.B. Financial Group, LLC ("CCM"), an affiliate of a member of
  the Sponsor, to provide consulting and advisory services in connection with the IPO, for which it received an advisory fee equal to one
  (
  1.0
  ) percent of the aggregate proceeds of the IPO, or $
  1,500,000
  , upon closing of the IPO. Affiliates of CCM have and manage investment
  vehicles with a passive investment in the Sponsor. On August 18, 2021, the Company paid to CCM in aggregate of $
  1,500,000
  . CCM has agreed
  to defer the payment of the portion of the advisory fee attributable to over-allotment option until the consummation of the initial Business
  Combination. CCM is engaged to represent the Company's interests only. The Company will also engage CCM as an advisor in connection
  with the initial Business Combination for which it will earn an advisory fee of
  2.25
  % of the gross proceeds of the IPO, or $
  3,375,000
  ,
  payable at closing of the Business Combination. On October 1, 2021 the underwriters' over-allotment option expired unused resulting
  in no additional fees and commissions related to the over-allotment option to be not payable to CCM by the Company.
  Business Combination Marketing
  Agreement
  The Company
  engaged the representative of the underwriter as an advisor in connection with Business Combination to assist in holding meetings with
  the Company's stockholders to discuss the potential Business Combination and the target business' attributes, introduce the
  Company to potential investors that are interested in purchasing the Company's securities in connection with the initial Business
  Combination and assist the Company with press releases and public filings in connection with the Business Combination. The Company will
  pay the representative a cash fee for such services upon the consummation of the initial Business Combination in an amount equal to
  2.25
  % of
  the gross proceeds of the IPO, or $
  3,375,000
  . The Company will also pay the representative a separate capital market advisory fee of $
  2,500,000
  upon
  completion of the initial Business Combination. Additionally, the Company will pay the representative a cash fee equal to
  1.0
  % of
  the total consideration payable in the proposed Business Combination if the representative introduces the Company to the target business
  with which the Company completes a Business Combination. On October 1, 2021 the underwriters' over-allotment option expired unused
  resulting in no additional marketing fees related to the over-allotment option to be not payable to the representative on the underwriter
  by the Company.
  14
  Table of Contents
  Right
  of First Refusal
  If the Company
  determines to pursue any equity, equity-linked, debt or mezzanine financing relating to or in connection with an initial Business Combination,
  then Northland Securities, Inc. shall have the right, but not the obligation, to act as book running manager, placement agent and/or arranger,
  as the case may be, in any and all such financing or financings. This right of first refusal extends from the date of the IPO until the
  earlier of the consummation of an initial Business Combination or the liquidation of the Trust Account if the Company fails to consummate
  a Business Combination during the required time period.
  Note 7 —
  Stockholders'
  Equity
  Preferred
  stock
  —The Company is authorized to issue
  1,000,000
  shares of preferred stock with a par value of $
  0.0001
  and
  with such designations, voting and other rights and preferences as may be determined from time to time by the Company's board of
  directors. As of December 31, 2021 and September 30, 2021, there were
  no
  shares of preferred stock issued or outstanding.
  Common
  stock
  —The Company is authorized to issue
  100,000,000
  shares of common stock with a par value of $
  0.0001
  per
  share. At December 31, 2021 and September 30, 2021, there were
  5,709,500
  and
  6,834,500
  shares of common stock issued and outstanding
  (excluding
  15,000,000
  shares subject to redemption). On February 3, 2021, affiliates of the Sponsor paid $
  25,000
  , or approximately
  $
  0.006
  per share, to cover certain offering costs in consideration for
  4,312,500
  Founder Shares. On February 8, 2021, EarlyBirdCapital,
  Inc. and Northland purchased
  162,500
  and
  87,500
  representative shares, respectively, at an average purchase price
  of approximately $
  0.0001
  per share, or an aggregate purchase price of $
  25.00
  .
  On May 29, 2021,
  Northland returned
  87,500
  shares of common stock to the Company, for no consideration, which were subsequently cancelled and
  on June 16, 2021, the Sponsor purchased an additional
  700,000
  shares of common stock at a purchase price of $
  0.006
  per
  share, resulting in the Sponsor holding an aggregate of
  5,012,500
  shares of common stock. On June 16, 2021, the Sponsor transferred
  50,000
  shares
  to its Chief Executive Officer and to its President and
  35,000
  shares to each of its
  three
  outside directors. The
  Founder Shares include an aggregate of up to
  1,125,000
  shares subject to forfeiture by the Sponsor to the extent that the underwriters'
  over-allotment option is not exercised in full or in part. On October 1, 2021 the underwriter's over-allotment option expired unused
  resulting in
  1,125,000
  founder shares forfeited to the Company for no consideration. As of December 31, 2021, there were 5,709,500 shares
  of common stock issued and outstanding, excluding
  15,000,000
  shares subject to redemption.
  Common stockholders
  of record are entitled to
  one vote for each share
  held on all matters to be voted on by stockholders. In connection with any
  vote held to approve the initial Business Combination, the Sponsor, as well as all of the Company's officers and directors, have
  agreed to vote their respective shares of common stock owned by them immediately prior to the IPO and any shares purchased in the IPO
  or following the IPO in the open market in favor of the proposed Business Combination.
  Warrants
  —Each
  whole warrant entitles the holder to purchase one share of common stock at a price of $
  11.50
  per share, subject to adjustment as
  discussed herein. The warrants will become exercisable
  30
  days after the completion of the Company's initial Business
  Combination. However, no warrants will be exercisable for cash unless the Company has an effective and current registration statement
  covering the shares of common stock issuable upon exercise of the warrants and a current prospectus relating to such shares of common
  stock. Notwithstanding the foregoing, if a registration statement covering the shares of common stock issuable upon exercise of the public
  warrants is not effective within
  90
  days following the consummation of the initial Business Combination, warrant holders may,
  until such time as there is an effective registration statement and during any period when the Company shall have failed to maintain an
  effective registration statement, exercise warrants on a cashless basis pursuant to the exemption provided by Section 3(a)(9) of the Securities
  Act, provided that such exemption is available. If that exemption, or another exemption, is not available, holders will not be able to
  exercise their warrants on a cashless basis. In the event of such cashless exercise, each holder would pay the exercise price by surrendering
  the warrants for that number of shares of common stock equal to the quotient obtained by dividing (x) the product of the number of shares
  of common stock uderlying the warrants, multiplied by the difference between the exercise price of the warrants and the "fair market
  value" (defined below) by (y) the fair market value. The "fair market value" for this purpose will mean the average
  reported last sale price of the shares of common stock for the
  5
  trading days ending on the trading day prior to the date of
  exercise. The warrants will expire on the fifth anniversary of the completion of an initial Business Combination, at 5:00 p.m., New York
  City time, or earlier upon redemption or liquidation.
  15
  Table of Contents
  The Company
  may call the warrants for redemption, in whole and not in part, at a price of $
  0.01
  per warrant, in whole and not in part:
  •
  at any time after the warrants become exercisable,
  •
  upon not less than
  30
  days' prior written notice of redemption to each warrant holder
  •
  if, and only if, the reported last sale price of the common stock equals or exceeds $
  18.00
  per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations) for any
  20
  trading days within a
  30
  -trading day period commencing at any time after the warrants become exercisable and ending on the third business day prior to the notice of redemption to warrant holders; and
  •
  if, and only if, there is a current registration statement in effect with respect to the shares of common stock underlying such warrants.
  If the Company
  calls the warrants for redemption as described above, the Company's management will have the option to require all holders that
  wish to exercise warrants to do so on a "cashless basis." In such event, each holder would pay the exercise price by surrendering
  the warrants for that number of shares of common stock equal to the quotient obtained by dividing (x) the product of the number of shares
  of common stock underlying the warrants, multiplied by the difference between the exercise price of the warrants and the "fair market
  value" (defined below) by (y) the fair market value. The "fair market value" for this purpose shall mean the average
  reported last sale price of the shares of common stock for the
  5
  trading days ending on the third trading day prior to the date
  on which the notice of redemption is sent to the holders of warrants.
  In addition,
  if (x) the Company issues additional shares of common stock or equity-linked securities for capital raising purposes in connection with
  the closing of the initial Business Combination at an issue price or effective issue price of less than $
  9.20
  per share of common
  stock (with such issue price or effective issue price to be determined in good faith by the Company's board of directors, and in
  the case of any such issuance to the Sponsor, initial stockholders or their affiliates, without taking into account any founders'
  shares held by them prior to such issuance), (y) the aggregate gross proceeds from such issuances represent more than
  60
  % of
  the total equity proceeds, and interest thereon, available for the funding of the initial Business Combination on the date of the consummation
  of the initial Business Combination (net of redemptions), and (z) the Market Value is below $
  9.20
  per share, the exercise price of
  the warrants will be adjusted (to the nearest cent) to be equal to
  115
  % of the greater of (i) the Market Value or (ii) the price
  at which the Company issues the additional shares of common stock or equity-linked securities.
  Note 8 —
  Recurring
  Fair Value Measurements
  The Company's
  trust assets on the balance sheet consist of U. S. Money Market funds which are classified as cash equivalents. Fair values of these investments
  are determined by Level 1 inputs utilizing quoted prices (unadjusted) in active markets for identical assets.
  There were no
  transfers between Levels 1, 2 or 3 during the three months ended December 31, 2021.
  Note
  9 —
  Subsequent Events
  The Company evaluated subsequent events and transactions
  that occurred after the balance sheet date up to the date that the financial statement was issued. Based upon this review the Company
  did not identify any subsequent events that would have required adjustment or disclosure in these unaudited condensed financial statements.
  16
  Table of Contents
  Item 2. Management's Discussion and Analysis
  of Financial Condition and Results of Operations.
  The following discussion and analysis of the Company's
  financial condition and results of operations should be read in conjunction with the financial statements and the notes thereto contained
  elsewhere in this report. References to the "Company," "us" or "we" refer to Armada Acquisition Corp.
  I.
  Cautionary Note
  Regarding Forward-Looking Statements
  This Quarterly
  Report on Form 10-Q includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and
  Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). We have based these forward-looking statements
  on our current expectations and projections about future events. These forward-looking statements are subject to known and unknown risks,
  uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially
  different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements.
  In some cases, you can identify forward-looking statements by terminology such as "may," "should," "could,"
  "would," "expect," "plan," "anticipate," "believe," "estimate,"
  "continue," or the negative of such terms or other similar expressions. Factors that might cause or contribute to such a discrepancy
  include, but are not limited to, those described in our other Securities and Exchange Commission ("SEC") filings.
  Overview
  We are a blank check
  company incorporated in Delaware on November 5, 2020, for the purpose of effecting a merger, stock exchange, asset acquisition, stock
  purchase, reorganization or other similar business combination with one or more businesses.
  On August 17, 2021,
  we consummated our IPO of 15,000,000 units, at $10.00 per unit, generating gross proceeds of $150 million.
  Simultaneously with
  the closing of the IPO, we consummated the private placement of 459,500 Private Shares for an aggregate purchase price of $4,595,000.
  Upon the closing of
  the IPO on August 17, 2021, $150,000,000 ($10.00 per unit) from the net proceeds of the sale of the units in the IPO and the sale of Private
  Shares were placed in the Trust Account.
  If we are unable to
  complete the initial Business Combination within the Combination Period, we will (i) cease all operations except for the purpose of winding
  up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem 100% of the outstanding public shares,
  at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on
  the funds held in the Trust Account and not previously released to us but net of taxes payable (and less up to $100,000 of interest to
  pay dissolution expenses), divided by the number of then outstanding public shares, which redemption will completely extinguish public
  stockholders' rights as stockholders (including the right to receive further liquidation distributions, if any), subject to applicable
  law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining stockholders and
  our board of directors, liquidate and dissolve, subject (in the case of (ii) and (iii) above) to our obligations under Delaware law to
  provide for claims of creditors and the requirements of other applicable law.
  Business Combination
  Agreement
  On December 17,
  2021, we announced that we entered into a business combination agreement, dated as of December 17, 2021, with Rezolve Limited, a private
  limited liability company registered under the laws of England and Wales ("
  Rezolve
  "), Rezolve Group Limited, a Cayman
  Islands exempted company ("
  Cayman NewCo
  "), and Rezolve Merger Sub, Inc., a Delaware corporation ("
  Rezolve
  Merger Sub
  ") (such business combination agreement, the "
  Business Combination Agreement
  ," and such business
  combination, the "
  Business Combination
  ").
  17
  Table of Contents
  Pursuant to the terms of
  the Business Combination Agreement, we, Cayman NewCo, Rezolve and Rezolve Merger Sub will effect a series of transactions, of among other
  things:
  a company reorganization
  pursuant to which Cayman NewCo will enter into a transfer and exchange agreement (the "
  Transfer and Exchange Agreement
  "),
  pursuant to which, each Key Company Shareholder (as defined in the Business Combination Agreement) will transfer to Cayman NewCo his,
  her or its respective shares of Rezolve in exchange for ordinary shares in Cayman NewCo, such that following the effectiveness of such
  transfers, the Key Company Shareholders will own the same proportionate equity interests of Cayman NewCo that such Key Company Shareholders
  owned t immediately before such transfers (with the balance of the other shares of Rezolve to be transferred to Cayman NewCo in exchange
  for an equivalent number and class of shares in Cayman NewCo) and, immediately thereafter, each Key Company Shareholder will transfer
  to Cayman NewCo all of his, her or its respective shares of Cayman NewCo so received in exchange for his, her or its applicable pro rata
  portion of the aggregate stock consideration in accordance with the terms and conditions set forth in the Business Combination Agreement
  and in such Transfer and Exchange Agreement (with all other shareholders of Rezolve to transfer to Cayman NewCo all of his, her or its
  respective shares of Cayman NewCo received in exchange for his, her or its applicable pro rata portion of the aggregate stock consideration);
  and
  following the Company Reorganization,
  but in no event earlier than ten (10) days following the effectiveness of each of the transactions contemplated by the Company Reorganization:
  (a) Rezolve Merger Sub shall be merged with and into Armada whereupon Rezolve Merger Sub will cease to exist and with Armada surviving
  the Merger as a subsidiary of Cayman NewCo; and (b) Armada shall loan all of its remaining cash in the Trust Account to Cayman NewCo in
  exchange for a promissory note, to enable Cayman NewCo to fund working capital and transaction expenses. Pursuant to the Merger, all of
  the outstanding securities of Armada will be converted into the right to receive an equivalent number of securities of Cayman NewCo of
  the same type and with the same terms.
  As a result of the Business
  Combination (i) the shareholders of Rezolve will receive a number of Cayman NewCo ordinary shares equal to (A) the quotient obtained by
  dividing (x) $1,750,000,000 by (y) $10.00 minus (B) the Outstanding Warrant Number (as defined in the Business Combination) and minus
  (C) the Acquisition Shares (as defined in the Business Combination Agreement) (to the extent such Acquisition Shares are not already issued
  on or prior to the Company Reorganization Date), and (ii) the combined company will pay or cause to be paid all of the transaction expenses.
  The
  consummation of the Business Combination is subject to the satisfaction or waiver of certain customary closing conditions of the respective
  parties, including the completion of the Company Reorganization, the requisite approvals of our stockholders and Rezolve's shareholders
  and regulatory approvals.
  In connection with
  the execution of the Business Combination Agreement, we and Cayman NewCo entered into certain subscription agreements, each dated December
  17, 2021 (the "
  Subscription Agreements
  "), with certain investors, pursuant to which such investors have agreed to purchase
  an aggregate of 2,050,000 ordinary shares (the "
  PIPE Shares
  ") of Cayman NewCo (together, the "
  Subscriptions
  "),
  for a purchase price of $10.00 per share, for an aggregate purchase price of $20.5 million to be issued substantially concurrently with
  the consummation of the Business Combination. The obligations of each party to consummate the Subscriptions are conditioned upon, among
  other things, customary closing conditions.
  We cannot assure you
  that our plans to complete our initial business combination will be successful.
  Results of Operations
  For the three months
  ended December 31, 2021, we had a net loss of $2,036,114, which consisted of operating costs and costs related to a
  prospective
  initial Business Combination
  of $2,010,995 and stock-based compensation of $27,963, partially offset by trust interest income
  of $2,844.
  18
  Table of Contents
  We will have 15 months (or 18 months if extended) from the closing of the
  IPO to complete the initial Business Combination (the "
  Combination Period
  "). However, if we are unable to complete
  the initial Business Combination within the Combination Period, we will (i) cease all operations except for the purpose of winding up,
  (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem 100% of the outstanding public shares,
  at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on
  the funds held in the Trust Account and not previously released to the Company but net of taxes payable (and less up to $50,000 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), subject to applicable
  law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining stockholders and
  the Company's board of directors, liquidate and dissolve, subject (in the case of (ii) and (iii) above) to our obligations under
  Delaware law to provide for claims of creditors and the requirements of other applicable law.
  We have also agreed to reimburse the Sponsor for office
  space, secretarial and administrative services provided to members of our management team, in an amount not to exceed $10,000 per month.
  Upon completion of our initial business combination or our liquidation, we will cease paying these monthly fees. For the three months
  ended December 31, 2021, the Company paid $30,000 under this agreement.
  Liquidity and
  Capital Resources
  As of December 31, 2021, we had cash outside our Trust
  Account of $419,700, available for working capital needs. All remaining cash was held in the Trust Account and is generally unavailable
  for our use, prior to an initial business combination.
  On August 17, 2021, we completed the sale of 15,000,000
  Units at $10.00 per Unit, generating gross proceeds of $150,000,000.
  Simultaneously with the consummation of the IPO, the
  Company consummated the private placement of 459,500 shares of common stock ("
  Private Shares
  "), at a price of $10.00
  per share for an aggregate purchase price of $4,595,000.
  In connection with the IPO, the underwriters were
  granted a 45-day option from the date of the prospectus for the IPO to purchase up to 2,250,000 additional units to cover over-allotments,
  if any. On October 1, 2021 this option expired unused.
  Following our IPO and the sale of the Private Shares,
  a total of $150,000,000 ($10.00 per Unit) was placed in the Trust Account. We incurred $3,537,515 in IPO related costs, including $1,500,000
  of underwriting fees and $2,037,515 of other costs.
  As of December 31, 2021, we had marketable securities
  held in the Trust Account of $150,003,896 (including $3,896 of interest income) consisting of mutual funds. Interest income on the balance
  in the Trust Account may be used by us to pay taxes.
  For the three months ended December 31, 2021, cash
  used in operating activities was $237,890. Net loss of $2,036,114 was impacted primarily by changes in operating assets and liabilities
  of $1,773,105, stock-based compensation of $27,963, partially offset by trust interest income of $2,844.
  We intend to use substantially all of the funds held
  in the Trust Account, including any amounts representing interest earned on the Trust Account to complete our initial business combination.
  We may withdraw interest to pay our taxes and liquidation expenses if we are unsuccessful in completing a business combination. We estimate
  our annual franchise tax obligations to be $200,000, which is the maximum amount of annual franchise taxes payable by us as a Delaware
  corporation per annum, which we may pay from funds from the Public Offering held outside of the Trust Account or from interest earned
  on the funds held in the Trust Account and released to us for this purpose. Our 2021 franchise tax was calculated using a partial year
  proration and amounted to $74,521. Our annual income tax obligations will depend on the amount of interest and other income earned on
  the amounts held in the Trust Account reduced by our operating expense and franchise taxes. We expect the interest earned on the amount
  in the Trust Account will be sufficient to pay our income taxes. To the extent that our equity or debt is used, in whole or in part, as
  consideration to complete our initial business combination, the remaining proceeds held in the Trust Account will be used as working capital
  to finance the operations of the target business or businesses, make other acquisitions and pursue our growth strategies.
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  Table of Contents
  Further, our sponsor, officers and directors or their
  respective affiliates may, but are not obligated to, loan us funds as may be required (the "
  Working Capital Loans
  ").
  If we complete a business combination, we would repay the Working Capital Loans. In the event that a business combination does not close,
  we may use a portion of proceeds held outside the Trust Account to repay the Working Capital Loans, but no proceeds held in the Trust
  Account would be used to repay the Working Capital Loans. Such Working Capital Loans would be evidenced by promissory notes. The notes
  would either be repaid upon consummation of a business combination, without interest, or, at the lender's discretion, or converted
  upon consummation of a business combination into additional Private Shares at a price of $10.00 per Private Share. As of December 31,
  2021, no Working Capital Loans have been issued.
  We do not believe
  we will need to raise additional funds in order to meet the expenditures required for operating our business for the 15 month period from
  the closing of our initial public offering (or 18 months from such date if we extend the period of time to consummate a business combination).
  However, if our estimate of the costs of identifying a target business, undertaking in-depth due diligence a-nd negotiating a business
  combination are less than the actual amount necessary to do so, we may have insufficient funds available to operate our business prior
  to our business combination. In connection with the execution of the Business Combination Agreement, we and Cayman NewCo entered into
  certain subscription agreements, each dated December 17, 2021 (the "
  Subscription Agreements
  "), with certain investors,
  pursuant to which such investors have agreed to purchase an aggregate of 2,050,000 ordinary shares (the "
  PIPE Shares
  ")
  of Cayman NewCo (together, the "
  Subscriptions
  "), for a purchase price of $10.00 per share, for an aggregate purchase
  price of $20.5 million to be issued substantially concurrently with the consummation of the Business Combination. The obligations of each
  party to consummate the Subscriptions are conditioned upon, among other things, customary closing conditions. Under the Business Combination
  Agreement, either we or Rezolve may termination the Business Combination Agreement if th
  e aggregate
  transaction proceeds (excluding any amount pursuant to the Subscription Agreement to which Apeiron Investment Group Limited is party and
  any other amounts invested by the investors specified in the Business Combination Agreement) provided or committed to be provided are
  not more than $50 million
  If we are unable to complete a business combination (including the Business Combination) because we do
  not have sufficient funds available to us, we will be forced to cease operations and liquidate the Trust Account.
  Critical Accounting
  Policies
  The preparation
  of these unaudited condensed financial statements in conformity with US GAAP requires management to make estimates and assumptions that
  affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited
  condensed financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those
  estimates. We have identified the following as our critical accounting policies:
  Offering Costs
  We comply with the requirements of ASC 340-10-S99-1
  and SEC Staff Accounting Bulletin Topic 5A—"Expenses of Offering". Offering costs consist of legal, accounting, underwriting
  and other costs incurred through the balance sheet date that are related to the IPO. We incurred offering costs amounting to $3,537,515
  as a result of the IPO consisting of a $1,500,000 underwriting commissions, and $2,037,515 of other offering costs.
  Redeemable Shares of Common Stock
  We account for our common stock subject to possible
  redemption in accordance with the guidance in ASC Topic 480 "Distinguishing Liabilities from Equity." Common stock subject
  to mandatory redemption (if any) are classified as a liability instrument and measured at fair value. Conditionally redeemable common
  stock (including common stock that feature redemption rights that are either within the control of the holder or subject to redemption
  upon the occurrence of uncertain events not solely within the Company's control) are classified as temporary equity. At all other
  times, common stock are classified as stockholders' equity. Our shares of common stock feature certain redemption rights that are
  considered to be outside of the Company's control and subject to the occurrence of uncertain future events. Accordingly, 15,000,000
  shares of common stock subject to possible redemption are presented at redemption value as temporary equity, outside of the stockholders'
  equity section of the Company's balance sheet.
  20
  Table of Contents
  All of the common stock sold as part
  of the Units in the IPO contain a redemption feature which allows for the redemption of such public shares in connection with the Company's
  liquidation, if there is a shareholder vote or tender offer in connection with the Business Combination and in connection with certain
  amendments to the Company's certificate of incorporation. In accordance with ASC 480-10-S99, redemption provisions not solely within
  the control of the Company require common stock subject to redemption to be classified outside of permanent equity.
  Net Loss per Share
  We comply with accounting and disclosure requirements
  of FASB ASC Topic 260, "Earnings Per Share". Net loss per common stock is computed by dividing net loss by the weighted average
  number of common stock outstanding for the period. Remeasurement adjustments associated with the redeemable shares of common stock is
  excluded from earnings per share as the redemption value approximates fair value.
  The calculation of diluted loss per share does not
  consider the effect of the warrants issued in connection with the IPO because the warrants are contingently exercisable, and the contingencies
  have not yet been met. The warrants are exercisable to purchase 7,500,000 shares of common stock in the aggregate. As of December 31,
  2021, we did not have any dilutive securities or other contracts that could, potentially, be exercised or converted into common stock
  and then share in the earnings of the Company. As a result, diluted net loss per common stock is the same as basic net loss per common
  stock for the period presented.
  Accretion of the carrying value of common stock subject
  to redemption value is excluded from net loss per common stock because the redemption value approximates fair value.
  Recent Accounting Pronouncements
  In August 2020, the Financial Accounting Standards
  Board ("
  FASB
  ") issued Accounting Standards Update ("
  ASU
  ") 2020-06, Debt — Debt with Conversion
  and Other Options (Subtopic 470-20) and Derivatives and Hedging — Contracts in Entity's Own Equity (Subtopic 815-40) ("
  ASU
  2020-06
  ") to simplify accounting for certain financial instruments. ASU 2020-06 eliminates the current models that require separation
  of beneficial conversion and cash conversion features from convertible instruments and simplifies the derivative scope exception guidance
  pertaining to equity classification of contracts in an entity's own equity. The new standard also introduces additional disclosures
  for convertible debt and freestanding instruments that are indexed to and settled in an entity's own equity. ASU 2020-06 amends
  the diluted earnings per share guidance, including the requirement to use the if-converted method for all convertible instruments. ASU
  2020-06 is effective January 1, 2022 and should be applied on a full or modified retrospective basis, with early adoption permitted beginning
  on January 1, 2021. The Company is currently assessing the impact, if any, that ASU 2020-06 would have on its financial position, results
  of operations or cash flows.
  Management does not believe that any recently issued,
  but not effective, accounting pronouncements, if currently adopted, would have a material effect on our unaudited condensed financial
  statements.
  Off-Balance Sheet Arrangements;
  Commitments and Contractual Obligations
  We have no obligations, assets or liabilities which
  would be considered off-balance sheet arrangements. We do not participate in transactions that create relationships with unconsolidated
  entities or financial partnerships, often referred to as variable interest entities, which would have been established for the purpose
  of facilitating off-balance sheet arrangements.
  We have not entered into any off-balance sheet financing
  arrangements, established any special purpose entities, guaranteed any debt or commitments of other entities, or entered into any non-financial
  agreements involving assets.
  21
  Table of Contents
  Contractual Obligations
  We do not have any long-term debt, capital lease obligations,
  operating lease obligations or long-term liabilities other than an administrative agreement to reimburse our sponsor for office space,
  secretarial and administrative services not to exceed $10,000 per month from the date of closing of the Public Offering. Upon completion
  of a business combination or the Company's liquidation, the Company will cease paying these monthly fees.
  Financial Advisory Fee
  We engaged Cohen & Company Capital Markets, a
  division of J.V.B. Financial Group, LLC ("
  CCM
  "), an affiliate of a member of the Sponsor, to provide consulting and
  advisory services in connection with the IPO, for which it received an advisory fee equal to one (1.0) percent of the aggregate proceeds
  of the IPO, or $1,500,000, upon closing of the IPO. Affiliates of CCM have and manage investment vehicles with a passive investment in
  the Sponsor. On August 18, 2021, we paid to CCM in aggregate of $1,500,000. CCM has agreed to defer the payment of the portion of the
  advisory fee attributable to over-allotment option until the consummation of the initial Business Combination. CCM is engaged to represent
  our interests only. We have also engaged CCM as an advisor in connection with the initial Business Combination for which it will earn
  an advisory fee of 2.25% of the gross proceeds of the IPO, or $3,375,000, payable at closing of the Business Combination. On October 1,
  2021 the underwriters' over-allotment option expired unused resulting in no additional fees and commissions related to the over-allotment
  option to be not payable to CCM by the Company.
  Business Combination Marketing Agreement
  We engaged the representative of the underwriter as
  an advisor in connection with Business Combination to assist in holding meetings with our stockholders to discuss the potential Business
  Combination and the target business' attributes, introduce us to potential investors that are interested in purchasing our securities
  in connection with the initial Business Combination and assist us with press releases and public filings in connection with the Business
  Combination. We will pay the representative a cash fee for such services upon the consummation of the initial Business Combination in
  an amount equal to 2.25% of the gross proceeds of the IPO, or $3,375,000. We will also pay the representative a separate capital market
  advisory fee of $2,500,000 upon completion of the initial Business Combination. Additionally, we will pay the representative a cash fee
  equal to 1.0% of the total consideration payable in the proposed Business Combination if the representative introduces us to the target
  business with which the Company completes a Business Combination.
  Right of First Refusal
  If we determine to pursue any equity, equity-linked,
  debt or mezzanine financing relating to or in connection with an initial Business Combination, then Northland Securities, Inc. shall have
  the right, but not the obligation, to act as book running manager, placement agent and/or arranger, as the case may be, in any and all
  such financing or financings. This right of first refusal extends from the date of the IPO until the earlier of the consummation of an
  initial Business Combination or the liquidation of the Trust Account if the Company fails to consummate a Business Combination during
  the required time period.
  Registration
  Rights
  The holders of the
  Founder Shares issued and outstanding on the date of the IPO, as well as the holders of the representative shares, Private Shares and
  any shares the sponsor, officers, directors or their affiliates may issue in payment of Working Capital Loans made to us, will be entitled
  to registration rights pursuant to an agreement to be signed prior to or on the effective date of the IPO. The holders of a majority
  of these securities (other than the holders of the representative shares) are entitled to make up to two demands that we register such
  securities. The holders of the majority of the Founder Shares can elect to exercise these registration rights at any time commencing
  three months prior to the date on which these shares of common stock are to be released from escrow. The holders of a majority of the
  Private Shares and shares issued to the Sponsor, officers, directors or their affiliates in payment of Working Capital Loans made to
  us can elect to exercise these registration rights at any time after we consummate a business combination. In addition, the holders have
  certain "piggy-back" registration rights with respect to registration statements filed subsequent to the consummation of
  a business combination. We will bear the expenses incurred in connection with the filing of any such registration statements.
  22
  Table of Contents
  Underwriting Agreement
  We granted the underwriters
  a 45-day option from the date of the IPO to purchase up to an additional 2,250,000 units to cover over-allotments, if any. On October
  1, 2021 the underwriters' over-allotment option expired unused.
  The underwriters were
  paid a cash underwriting discount of 1.0% of the gross proceeds of the IPO, or $1,500,000.
  Business Combination Agreement
  We are party to the Business
  Combination Agreement with Rezolve, Cayman NewCo and Rezolve Merger Sub, dated December 17, 2021. Completion of the proposed transaction
  pursuant to the Business Combination Agreement is subject to customary closing conditions, including the approval of the Company's
  and Rezolve's respective stockholders and regulatory approvals.
  In connection with the execution
  of the Business Combination Agreement, certain investors
  have agreed to purchase an aggregate of
  2,050,000 ordinary shares of Cayman NewCo
  for the purchase price of $10.00 per share, for an aggregate purchase price of $20.5
  million pursuant to certain subscription agreements (the "
  Subscription Agreements
  "). The obligations of each party
  under the subscription agreements are conditioned upon customary closing conditions and the consummation of the Business Combination.
  Concurrently
  with the execution and delivery of the Business Combination Agreement, Armada and the Key Company Shareholders (as defined in the Business
  Combination Agreement) have entered into the Transaction Support Agreement (the "
  Transaction Support Agreement
  "),
  pursuant to which, among other things, the Key Company Shareholders have agreed to (a) enter into the transfer and exchange agreement
  in order to effect the Company Reorganization, (b) vote in favor of the Business Combination Agreement and the agreements contemplated
  thereby and the transactions contemplated hereby, (c) enter into an Investor Rights Agreement at Closing and (d) the termination of certain
  agreements effective as of Closing.
  Item 3. Quantitative and
  Qualitative Disclosures About Market Risk
  Not required for smaller
  reporting companies.
  Item 4. Controls and Procedures
  Evaluation of Disclosure
  Controls and Procedures
  Disclosure controls
  and procedures are designed to ensure that information required to be disclosed by us in our Exchange Act reports is recorded,
  processed, summarized, and reported within the time periods specified in the SEC's rules and forms, and that such information is
  accumulated and communicated to our management, including our principal executive officer and principal financial officer or persons performing
  similar functions, as appropriate to allow timely decisions regarding required disclosure.
  Under the supervision
  and with the participation of our management, including our principal executive officer and principal financial and accounting officer,
  we conducted an evaluation of the effectiveness of our disclosure controls and procedures as of December 31, 2021, as such term is defined
  in Rules 13a-15(e) and 15d-15(e) under the Exchange Act. Based on this evaluation, our principal executive officer and principal
  financial and accounting officer have concluded that as of December 31, 2021, our disclosure controls and procedures were effective.
  Internal
  Control over Financial Reporting
  Management is
  responsible for establishing and maintaining adequate internal control over financial reporting for the Company. Management assessed the
  effectiveness of our internal control over financial reporting as of December 31, 2021. Based on its assessment, management concluded
  that our internal control over financial reporting was effective as of December 31, 2021.
  Changes in
  Internal Control over Financial Reporting
  There were no
  changes to our internal control over financial reporting that occurred during our fiscal quarter ended December 31, 2021 that have materially
  affected or are reasonably likely to materially affect, our internal control over financial reporting.
  23
  Table of Contents
  PART II - OTHER INFORMATION
  Item 1. Legal Proceedings.
  None.
  Item 1A. Risk Factors.
  Except as set forth below, as of the date of this
  Quarterly Report, there have been no material changes with respect to those risk factors previously disclosed in our
  Annual
  Report on Form 10-K for the year ended September 30, 2021, as filed with SEC on December 29, 2021
  . Any of these factors could result
  in a significant or material adverse effect on our results of operations or financial condition. Additional risk factors not presently
  known to us or that we currently deem immaterial may also impair our business or results of operations.
  There are no assurances that we will consummate
  our recently announced business combination with Heliogen, Inc.
  On December 17, 2021, we announced that we entered
  into a business combination agreement, dated as of December 17, 2021, with Rezolve Limited, a private limited liability company registered
  under the laws of England and Wales ("
  Rezolve
  "), Rezolve Group Limited, a Cayman Islands exempted company ("
  Cayman
  NewCo
  "), and Rezolve Merger Sub, Inc., a Delaware corporation ("
  Rezolve Merger Sub
  ") (such business combination
  agreement, the "
  Business Combination Agreement
  ," and such business combination, the "
  Business Combination
  ").
  Pursuant to the terms of the Business Combination Agreement, we, Cayman NewCo, Rezolve and Rezolve Merger Sub will effect a series of
  transactions, of among other things:
  a company reorganization
  pursuant to which Cayman NewCo will enter into a transfer and exchange agreement (the "
  Transfer and Exchange Agreement
  "),
  pursuant to which, each Key Company Shareholder (as defined in the Business Combination Agreement) will transfer to Cayman NewCo his,
  her or its respective shares of Rezolve in exchange for ordinary shares in Cayman NewCo, such that following the effectiveness of such
  transfers, the Key Company Shareholders will own the same proportionate equity interests of Cayman NewCo that such Key Company Shareholders
  owned t immediately before such transfers (with the balance of the other shares of Rezolve to be transferred to Cayman NewCo in exchange
  for an equivalent number and class of shares in Cayman NewCo) and, immediately thereafter, each Key Company Shareholder will transfer
  to Cayman NewCo all of his, her or its respective shares of Cayman NewCo so received in exchange for his, her or its applicable pro rata
  portion of the aggregate stock consideration in accordance with the terms and conditions set forth in the Business Combination Agreement
  and in such Transfer and Exchange Agreement (with all other shareholders of Rezolve to transfer to Cayman NewCo all of his, her or its
  respective shares of Cayman NewCo received in exchange for his, her or its applicable pro rata portion of the aggregate stock consideration);
  and
  following the Company Reorganization,
  but in no event earlier than ten (10) days following the effectiveness of each of the transactions contemplated by the Company Reorganization:
  (a) Rezolve Merger Sub shall be merged with and into Armada whereupon Rezolve Merger Sub will cease to exist and with Armada surviving
  the Merger as a subsidiary of Cayman NewCo; and (b) Armada shall loan all of its remaining cash in the Trust Account to Cayman NewCo in
  exchange for a promissory note, to enable Cayman NewCo to fund working capital and transaction expenses. Pursuant to the Merger, all of
  the outstanding securities of Armada will be converted into the right to receive an equivalent number of securities of Cayman NewCo of
  the same type and with the same terms.
  As a result of the Business Combination (i) the
  shareholders of Rezolve will receive a number of Cayman NewCo ordinary shares equal to (A) the quotient obtained by dividing (x) $1,750,000,000
  by (y) $10.00 minus (B) the Outstanding Warrant Number (as defined in the Business Combination) and minus (C) the Acquisition Shares (as
  defined in the Business Combination Agreement) (to the extent such Acquisition Shares are not already issued on or prior to the Company
  Reorganization Date), and (ii) the combined company will pay or cause to be paid all of the transaction expenses.
  24
  Table of Contents
  The consummation
  of the Business Combination is subject to the satisfaction or waiver of certain customary closing conditions of the respective parties,
  including the completion of the Company Reorganization, the requisite approvals of our stockholders and Rezolve's shareholders and
  regulatory approvals.
  There are no assurances that all the conditions to the Business Combination will be satisfied or satisfied
  within the time frames required un the Business Combination Agreement or otherwise expected. If the conditions to the Business Combination
  are not met (and, to extent waivable, are not waived), then, subject to the terms and conditions of the Business Combination Agreement,
  either the Company or Heliogen may terminate the Business Combination Agreement. The Company has
  until
  15 months (or 18 months if extended) from the closing of the IPO to complete the initial Business Combination
  . However,
  if we are unable to complete the initial Business Combination within the Combination Period, we will (i) cease all operations except for
  the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem 100% of the
  outstanding public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account,
  including interest earned on the funds held in the Trust Account and not previously released to the Company but net of taxes payable (and
  less up to $50,000 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), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of
  our remaining stockholders and the Company's board of directors, liquidate and dissolve, subject (in the case of (ii) and (iii)
  above) to our obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law.
  Item 2. Unregistered Sales of Equity Securities
  and Use of Proceeds.
  None.
  Item 3. Defaults Upon Senior Securities.
  None.
  Item 4. Mine Safety Disclosures.
  Not Applicable.
  Item 5. Other Information.
  None.
  Item 6. Exhibits
  The following exhibits are filed
  as part of, or incorporated by reference into, this Quarterly Report on Form 10-Q.
  Exhibit No.
  Description
  Incorporation by Reference
  1.1
  Underwriting Agreement, dated August 12, 2021, by and between the Company and Northland, as representative of the several underwriters.
  Previously filed as an exhibit to our Current Report on Form 8-K filed on August 18, 2021 and incorporated by reference herein.
  2.1
  Business Combination Agreement, dated as of December 17, 2021, by and among Armada Acquisition Corp. I, Rezolve Group Limited, Rezolve Merger Sub, Inc. and Rezolve Limited.
  Previously filed as an exhibit to our Current Report on Form 8-K filed on December 17, 2021 and incorporated by reference herein.
  3.1
  Second Amended and Restated Certificate of Incorporation.
  Previously filed as an exhibit to our Current Report on Form 8-K filed on August 18, 2021 and incorporated by reference herein.
  25
  Table of Contents
  3.2
  Bylaws.
  Previously filed as an exhibit to our Registration Statement on Form S-1 on July 2, 2021 and incorporated by reference herein.
  4.1
  Warrant Agreement, dated August 12, 2021, by and between the Company and Continental Stock Transfer & Trust Company ("CST"), as warrant agent.
  Previously filed as an exhibit to our Current Report on Form 8-K filed on August 18, 2021 and incorporated by reference herein.
  10.1
  Investment Management Trust Agreement, dated August 12, 2021, by and between the Company and CST, as trustee.
  Previously filed as an exhibit to our Current Report on Form 8-K filed on August 18, 2021 and incorporated by reference herein.
  10.2
  Registration Rights Agreement, dated August 12, 2021, by and between the Company, its officers, its directors, Armada Sponsor LLC (the "Sponsor") and EarlyBirdCapital, Inc.
  Previously filed as an exhibit to our Current Report on Form 8-K filed on August 18, 2021 and incorporated by reference herein.
  10.3
  Private Placement Shares Purchase Agreement, dated August 12, 2021, by and between the Company and the Sponsor.
  Previously filed as an exhibit to our Current Report on Form 8-K filed on August 18, 2021 and incorporated by reference herein.
  10.4
  Letter Agreement, dated August 12, 2021, by and among the Company, its officers, its directors, and the Sponsor.
  Previously filed as an exhibit to our Current Report on Form 8-K filed on August 18, 2021 and incorporated by reference herein.
  10.5
  Administrative Services Agreement, dated August 12, 2021, by and between the Company and the Sponsor.
  Previously filed as an exhibit to our Current Report on Form 8-K filed on August 18, 2021 and incorporated by reference herein.
  10.6
  Stock Escrow Agreement, dated August 12, 2021, by and between the Company, its directors, its officers, the Sponsor and CST.
  Previously filed as an exhibit to our Current Report on Form 8-K filed on August 18, 2021 and incorporated by reference herein.
  10.7
  Business Combination Marketing Agreement, dated August 12, 2021, by and between the Company and Northland.
  Previously filed as an exhibit to our Current Report on Form 8-K filed on August 18, 2021 and incorporated by reference herein.
  31.1
  Certification of Principal Executive Officer Pursuant to Securities Exchange Act Rules 13a-14(a) and 15(d)-14(a), as adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
  Filed herewith.
  31.2
  Certification of Principal Financial Officer Pursuant to Securities Exchange Act Rules 13a-14(a) and 15(d)-14(a), as adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
  Filed herewith.
  32.1
  Certification of Principal Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
  Filed herewith.
  32.2
  Certification of Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
  Filed herewith.
  101.INS
  XBRL Instance Document
  Filed herewith.
  101.CAL
  XBRL Taxonomy Extension Calculation Linkbase Document
  Filed herewith.
  101.SCH
  XBRL Taxonomy Extension Schema Document
  Filed herewith.
  101.DEF
  XBRL Taxonomy Extension Definition Linkbase Document
  Filed herewith.
  26
  Table of Contents
  101.LAB
  XBRL Taxonomy Extension Labels Linkbase Document
  Filed herewith.
  101.PRE
  XBRL Taxonomy Extension Presentation Linkbase Document
  Filed herewith.
  104
  Cover Page Interactive Data File (embedded within the Inline XBRL document and included in Exhibit 101).
  Filed herewith.
  SIGNATURES
  In accordance with the requirements
  of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
  ARMADA ACQUISITION CORP. I
  Date: February [    ], 2022
  By:
  /s/ Stephen P. Herbert
  Name:
  Stephen P. Herbert
  Title:
  Chief Executive Officer
  (Principal Executive Officer)
  Date: February [    ], 2022
  By:
  /s/ Douglas M. Lurio
  Name:
  Douglas M. Lurio
  Title:
  President
  (Principal Accounting and Financial Officer)
  27