v3.25.1
Consolidated Condensed Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2025
Dec. 31, 2024
Current Assets:    
Cash $ 224,204 $ 39,938
Total Current Assets 224,204 39,938
Investments held in Trust Account 3,421,932 3,237,676
Total Assets 3,646,136 3,277,614
Current Liabilities    
Accounts payable and accrued expenses 2,618,503 2,594,035
Accrued franchise tax 29,971 23,571
Accrued excise tax 2,937,587 2,649,197
Income taxes payable 284,369 278,518
Convertible promissory note, net of debt discount 1,417,154 1,255,062
Conversion event liability 697,543 684,887
Total Current Liabilities 15,226,767 13,387,910
Warrant liabilities 6,061,000 4,180,000
Deferred underwriting fee payable 8,050,000 8,050,000
Total Liabilities 29,337,767 25,617,910
Commitments and Contingencies (Note 5)
Class A Common Stock subject to possible redemption. 249,659 shares are at redemption value of approximately $13.28 and $12.61 per share at March 31, 2025 and December 31, 2024, respectively. 3,315,008 3,148,662
Stockholders’ Deficit:    
Preferred Stock, $0.0001 par value; 1,000,000 shares authorized, no shares issued or outstanding
Accumulated deficit (29,007,214) (25,489,533)
Total Stockholders’ Deficit (29,006,639) (25,488,958)
Total Liabilities, Class A Common Stock Subject to Possible Redemption and Stockholders’ Deficit 3,646,136 3,277,614
Class A Common Stock    
Stockholders’ Deficit:    
Common stock, value 575 575
Class B Common Stock    
Stockholders’ Deficit:    
Common stock, value
Related Party    
Current Liabilities    
Advances from related parties 100,770 100,770
Note Payable 1,729,710 390,710
Working Capital Loan—related party 17,935 17,935
Sponsor    
Current Liabilities    
Note Payable $ 5,393,225 $ 5,393,225