| Schedule of Common Stock Issued and Outstanding Reverse Recapitalization |
The following table presents
the number of the Company’s common stock issued and outstanding immediately following the reverse recapitalization:
| | |
Common
Stock | |
| Lakeshore’s shares outstanding prior to reverse recapitalization | |
| 74,717 | |
| Shares issued to private rights | |
| 1,172 | |
| Conversion of the Lakeshore’s public shares and rights | |
| 26,337 | |
| Shares issued to service providers | |
| 26,718 | |
| Shares issued for commitment fee | |
| 5,114 | |
| Bonus shares issued to investors | |
| 5,533 | |
| Conversion of NMI’s shares into the Company’s ordinary shares | |
| 742,416 | |
| Total shares outstanding | |
| 882,006 | |
|
The following table presents
the number of the Company’s common stock issued and outstanding immediately following the reverse recapitalization:
| | |
Common
Stock | |
| Lakeshore’s shares outstanding prior to reverse recapitalization | |
| 74,717 | |
| Shares issued to private rights | |
| 1,172 | |
| Conversion of the Lakeshore’s public shares and rights | |
| 26,337 | |
| Shares issued to service providers | |
| 26,718 | |
| Shares issued for commitment fee | |
| 5,114 | |
| Bonus shares issued to investors | |
| 5,533 | |
| Conversion of NMI’s shares into the Company’s ordinary shares | |
| 742,416 | |
| Total shares outstanding | |
| 882,006 | |
|
| Schedule of Reverse Recapitalization |
The following table reconcile
the elements of the reverse recapitalization to the consolidated statements of cash flows and the changes in shareholders’ equity
(deficit):
| | |
As of
March 11,
2024 | |
| Funds held in Lakeshore’s trust account | |
$ | 15,067,702 | |
| Funds held in Lakeshore’s operating cash account | |
| 198 | |
| Less: amount paid to redeem public shares of Lakeshore’s
ordinary shares | |
| (13,947,723 | ) |
| Proceeds from the reverse recapitalization | |
| 1,120,177 | |
| Less: payments of transaction costs incurred by Lakeshore | |
| (1,044,980 | ) |
| Less: repayments of promissory note – related party of Lakeshore’ | |
| (75,000 | ) |
| Less: notes assumed from Lakeshore | |
| (555,000 | ) |
| Less: liability assumed from Lakeshore | |
| (1,547,814 | ) |
| Less: transaction costs paid by NMI | |
| (1,230,857 | ) |
| Add: receivable assumed from Lakeshore | |
| 500,000 | |
| Net liabilities assumed from issuance of common stock upon the Merger, balance
classified to retained deficit | |
$ | (2,833,474 | ) |
|
The following table reconcile
the elements of the reverse recapitalization to the consolidated statements of cash flows and the changes in shareholders’ equity
(deficit):
| | |
As of
March 11,
2024 | |
| Funds held in Lakeshore’s trust account | |
$ | 15,067,702 | |
| Funds held in Lakeshore’s operating cash account | |
| 198 | |
| Less: amount paid to redeem public shares of Lakeshore’s ordinary shares | |
| (13,947,723 | ) |
| Proceeds from the reverse recapitalization | |
| 1,120,177 | |
| Less: payments of transaction costs incurred by Lakeshore | |
| (1,044,980 | ) |
| Less: repayments of promissory note – related party of Lakeshore’ | |
| (75,000 | ) |
| Less: notes assumed from Lakeshore | |
| (555,000 | ) |
| Less: liability assumed from Lakeshore | |
| (1,547,814 | ) |
| Less: transaction costs paid by NMI | |
| (1,230,857 | ) |
| Add: receivable assumed from Lakeshore | |
| 500,000 | |
| Net liabilities assumed from issuance of common stock upon the Merger, balance classified to retained deficit | |
$ | (2,833,474 | ) |
|