Schedule of Redeemable Common Stock |
As of March 31, 2025, the redeemable common stock
reflected in the balance sheet are reconciled in the following table:
Gross proceeds | |
$ | 230,000,000 | |
Less: | |
| | |
Proceeds allocated to Public Warrants | |
| (12,466,000 | ) |
Proceeds allocated to Public Rights | |
| (7,337,000 | ) |
Issuance costs allocated to common stock | |
| (13,850,689 | ) |
Plus: | |
| | |
Remeasurement of carrying value to redemption value | |
| 33,653,689 | |
Common stock subject to possible
redemption, March 31, 2022 | |
| 230,000,000 | |
Plus: | |
| | |
Remeasurement of carrying value to redemption value | |
| 1,264,548 | |
Less: | |
| | |
Redemption | |
| (210,980,522 | ) |
Common stock subject to possible
redemption, March 31, 2023 | |
| 20,284,026 | |
Plus: | |
| | |
Remeasurement of carrying value to redemption value | |
| 2,011,747 | |
Less: | |
| | |
Redemption | |
| (11,368,921 | ) |
Common stock subject to possible
redemption, March 31, 2024 | |
$ | 10,926,852 | |
Plus: | |
| | |
Remeasurement of carrying value to redemption value | |
| 359,636 | |
Less: | |
| | |
Redemption | |
| (7,919,296 | ) |
Common stock subject to possible
redemption, March 31, 2025 | |
$ | 3,367,192 | |
|
Schedule of Basic and Diluted Net Loss per Common Stock |
The following table reflects the calculation of
basic and diluted net loss per common stock (in dollars, except per share amounts)
| |
For the Year Ended March 31, | |
| |
2025 | | |
2024 | |
Basic and diluted net loss per share: | |
| | |
| |
Numerators: | |
| | |
| |
Net loss | |
$ | (408,107 | ) | |
$ | (814,487 | ) |
| |
| | | |
| | |
Denominators: | |
| | | |
| | |
Basic and diluted weighted average shares outstanding | |
| 7,358,172 | | |
| 8,251,280 | |
Basic and diluted net loss per share of common stock | |
$ | (0.06 | ) | |
$ | (0.10 | ) |
|