v3.25.1
SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
SEGMENT INFORMATION

NOTE 12 – SEGMENT INFORMATION

 

The Company operates as one operating segment. The Company’s chief operating decision maker (“CODM”) is its chief executive officers, who review financial information presented on a consolidated basis. The CODM uses consolidated operating margin and net income (loss) to assess financial performance and allocate resources. These financial metrics are used by the CODM to make key operating decisions, such as the allocation of budget between cost of revenues, sales and marketing, professional fees, and general and administrative expenses.

 

The following table presents selected financial information with respect to the Company’s single operating segment for the years ended December 31, 2024 and 2023:

 

   December 31, 2024   December 31, 2023 
   For the Years Ended 
   December 31, 2024   December 31, 2023 
         
Revenue  $-   $- 
           
Operating expenses          
General and administrative expenses   396,434    42,918 
Professional fees   438,461    349,031 
Total operating expenses   834,895    391,949 
Operating loss   (834,895)   (391,949)
Operating margin   -100.0%   -100.0%
           
Other income (expenses)          
Interest income   13    7 
Change in fair value of earnout shares liability   18,731,514    - 
Change in fair value of warrants liability   (397,553)   - 
Forbearance fee expense   (13,226,926)   - 
Interest expense   (168,886)   (109,353)
Total other income (expense)   4,938,162    (109,346)
Income (loss) before income tax expense   4,103,267    (501,295)
Income tax expense   (200)   - 
Net income (loss)  $4,103,067   $(501,295)

 

The Company’s had no long-lived tangible assets for the years ended December 31, 2024 and 2023.