v3.25.2
Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Dec. 31, 2023
Cash Flows from Operating Activities:        
Net (loss) income $ (487,392) $ 1,100,442 $ 7,599,512 $ (41,692)
Adjustments to reconcile net (loss) income to net cash used in operating activities:        
Formation and operation expenses paid by Sponsor     26,692
Interest earned on marketable securities held in Trust Account (1,989,268) (1,206,515) (8,449,291)
Non-cash accrued offering costs adjustment (81,000) (81,000)
Share-based compensation expense 57,919 39,372 271,572
Changes in operating assets and liabilities:        
Prepaid expense (61,590) (16,283) (2,160)
Short-term prepaid insurance 37,332 (249,840) (249,840)
Long-term prepaid insurance 25,128 (212,508) (25,128)
Due to sponsor 19,374 67,809
Accounts payable and accrued expenses 1,663,855 8,333 104,706 15,000
Net cash used in operating activities (734,642) (617,999) (763,820)
Cash Flows from Investing Activities:        
Investment of cash in Trust Account (184,000,000) (184,000,000)
Net cash used in investing activities (184,000,000) (184,000,000)
Cash Flows from Financing Activities:        
Proceeds from sale of Private Placement Shares, net of underwriting discounts paid 182,160,000 182,160,000
Proceeds from sale of Private Placement Shares 5,090,000 5,090,000
Repayment of promissory note – related party (209,853) (209,853)
Payment of offering costs (578,550) (578,550)
Net cash provided by financing activities 186,461,597 186,461,597
Net Change in Cash (734,642) 1,843,598 1,697,777
Cash – Beginning of period 1,697,777
Cash – End of period 963,135 1,843,598 1,697,777
Non-Cash investing and financing activities:        
Deferred offering costs paid by Sponsor through promissory note $ 139,758 $ 139,758