| Schedule of loss per share |
| | | | | | For the Three Months Ended | | | March 31, 2025 | Net loss | | $ | (101,682) | Less: Remeasurement of Class A redeemable shares to redemption value | | | (4,494) | Net loss including accretion of Class A redeemable shares to redemption value | | $ | (106,176) |
| | | | | | | | | | | | | For the Three Months Ended | | | | | | | March 31, 2025 | | | | | | | Class A | | Class A and Class B | | | | | | | Redeemable Shares | | Non-redeemable shares | | Total | | Total number of shares | | | 37,987 | | | 5,750,000 | | | 5,787,987 | | Ownership percentage | | | 1 | % | | 99 | % | | 100 | % | Net loss allocated based on ownership percentage | | | (667) | | | (101,015) | | | (101,682) | | Less: Remeasurement of Class A redeemable shares to redemption value based on ownership percentage | | | (30) | | | (4,464) | | | (4,494) | | Plus: Accretion applicable to remeasurement of Class A redeemable shares to redemption value | | | 4,494 | | | — | | | 4,494 | | Total income (loss) based on ownership percentage | | $ | 3,797 | | $ | (105,479) | | $ | (101,682) | | Weighted average shares outstanding | | | 37,986 | | | 5,750,000 | | | | | Basic and diluted net income (loss) per share | | $ | 0.10 | | $ | (0.02) | | | | |
| | | | | | For the Three Months Ended | | | March 31, 2024 | Net income | | $ | 261,607 | Plus: Trust Account withdrawals for tax payments | | | 489,119 | Less: Remeasurement of Class A redeemable shares to redemption value | | | (559,907) | Net income including accretion of Class A redeemable shares to redemption value | | $ | 190,819 |
| | | | | | | | | | | | | For the Three Months Ended | | | | | | | March 31, 2024 | | | | | | | Class A | | Class A and Class B | | | | | | | Redeemable Shares | | Non-redeemable shares | | Total | | Total number of shares | | | 1,163,113 | | | 5,750,000 | | | 6,913,113 | | Weighted average shares ratio | | | 38 | % | | 62 | % | | 100 | % | Net income allocated based on weighted average shares ratio | | $ | 100,589 | | $ | 161,018 | | $ | 261,607 | | Plus: Trust Account withdrawals for tax payments based on weighted average shares ratio | | | 188,068 | | | 301,051 | | | 489,119 | | Less: Remeasurement of Class A redeemable shares to redemption value based on weighted average shares ratio | | | (215,286) | | | (344,621) | | | (559,907) | | Less: Accretion applicable to Trust Account withdrawals for tax payments | | | (489,119) | | | — | | | (489,119) | | Plus: Accretion applicable to remeasurement of Class A redeemable shares to redemption value | | | 559,907 | | | — | | | 559,907 | | Total income based on weighted average shares ratio | | $ | 144,159 | | $ | 117,448 | | $ | 261,607 | | Weighted average shares outstanding | | | 3,592,063 | | | 5,750,000 | | | | | Basic and diluted net income per share | | $ | 0.04 | | $ | 0.02 | | | | |
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The following table reflects the calculation of basic and diluted net loss per common stock for the year ended December 31, 2024 (in dollars, except per share amounts): | | | | | | For the Year Ended | | | December 31, 2024 | Net loss | | $ | (5,107,051) | Plus: Trust Account withdrawals for tax payments | | | 489,119 | Less: Remeasurement of Class A redeemable shares to redemption value | | | (966,174) | Net loss including accretion of Class A redeemable shares to redemption value | | $ | (5,584,106) |
| | | | | | | | | | | | | For the Year Ended | | | | | | | December 31, 2024 | | | | | | | Class A | | Class A and Class B | | | | | | Redeemable Shares | | Non-redeemable Shares | | Total | | Total number of shares | | | 37,987 | | | 5,750,000 | | | 5,787,987 | | Weighted average shares ratio | | | 22 | % | | 78 | % | | 100 | % | | | | | | | | | | | | Net loss allocated based on ownership percentage | | $ | (1,118,969) | | $ | (3,988,082) | | $ | (5,107,051) | | | | | | | | | | | | | Plus: Trust Account withdrawals for tax payments based on weighted average shares ratio | | | 107,167 | | | 381,952 | | | 489,119 | | Less: Remeasurement of Class A redeemable shares to redemption value based on weighted average shares ratio | | | (211,691) | | | (754,483) | | | (966,174) | | | | | | | | | | | | | Less: Accretion applicable to Trust Account withdrawals for tax payments | | | (489,119) | | | — | | | (489,119) | | Plus: Accretion applicable to remeasurement of Class A redeemable shares to redemption value | | | 966,174 | | | — | | | 966,174 | | Total income (loss) based on ownership percentage | | $ | (746,438) | | $ | (4,360,613) | | $ | (5,107,051) | | | | | | | | | | | | | Weighted average shares outstanding | | | 1,613,326 | | | 5,750,000 | | | | | Basic and diluted net loss per share | | $ | (0.46) | | $ | (0.76) | | | | |
The following table reflects the calculation of basic and diluted net income (loss) per common stock for the year ended December 31, 2023 (in dollars, except per share amounts): | | | | | | For the Year Ended | | | December 31, 2023 | Net income | | $ | 2,729,602 | Plus: Trust Account withdrawals for tax payments | | | 2,287,729 | Less: Remeasurement of Class A redeemable shares to redemption value | | | (6,707,678) | Net loss including accretion of Class A redeemable shares to redemption value | | $ | (1,690,348) |
| | | | | | | | | | | | | For the Year Ended | | | | | | | December 31, 2023 | | | | | | | Class A | | Class A and Class B | | | | | | Redeemable Shares | | Non-redeemable Shares | | Total | | Total number of shares | | | 4,150,065 | | | 5,750,000 | | | 9,900,065 | | Weighted average shares ratio | | | 68 | % | | 32 | % | | 100 | % | Net income allocated based on ownership percentage | | $ | 1,865,473 | | $ | 864,129 | | $ | 2,729,602 | | Plus: Trust Account withdrawals for tax payments based on weighted average shares ratio | | | 1,563,487 | | | 724,242 | | | 2,287,729 | | Less: Remeasurement of Class A redeemable shares to redemption value based on weighted average shares ratio | | | (4,584,183) | | | (2,123,495) | | | (6,707,678) | | Less: Accretion applicable to Trust Account withdrawals for tax payments | | | (2,287,729) | | | — | | | (2,287,729) | | Plus: Accretion applicable to remeasurement of Class A redeemable shares to redemption value | | | 6,707,678 | | | — | | | 6,707,678 | | Total income (loss) based on ownership percentage | | $ | 3,264,726 | | $ | (535,124) | | $ | 2,729,602 | | Weighted average shares outstanding | | | 12,413,050 | | | 5,750,000 | | | | | Basic and diluted net income (loss) per share | | $ | 0.26 | | $ | (0.09) | | | | |
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| Schedule of loss per share |
The following table represents the Company’s loss per share for the three and three months ended March 31: | | | | | | | | | Three Months Ended | | | 2025 | | 2024 | Numerator: | | | | | | | Net loss attributable to controlling interests | | $ | (37,416,910) | | $ | (14,844,084) | | | | | | | | Denominator: | | | | | | | Weighted average basic shares outstanding | | | 27,217,011 | | | 25,000,518 | Effect of dilutive shares | | | — | | | — | Weighted average diluted shares | | | 27,217,011 | | | 25,000,518 | | | | | | | | Basic loss per share | | $ | (1.375) | | $ | (0.594) | Diluted loss per share | | $ | (1.375) | | $ | (0.594) |
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The following table represents the Company’s loss per share for the three months and year ended December 31: | | | | | | | | | | | | Year Ended | | | 2024 | | 2023 | | 2022 | Numerator: | | | | | | | | | | Net income (loss) attributable to controlling interests | | $ | (89,795,494) | | $ | 9,163,794 | | $ | (13,710,708) | Denominator: | | | | | | | | | | Weighted average basic shares outstanding | | | 25,791,117 | | | 24,775,858 | | | 24,264,683 | Effect of dilutive shares | | | — | | | 1,153,388 | | | — | Weighted average diluted shares | | | 25,791,117 | | | 25,929,246 | | | 24,264,683 | Basic gain (loss) per share | | $ | (3.482) | | $ | 0.370 | | $ | (0.565) | Diluted gain (loss) per share | | $ | (3.482) | | $ | 0.353 | | $ | (0.565) |
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