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:
SCHEDULE OF FINANCIAL INFORMATION
| | |
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 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.
|