v3.25.2
CONDENSED STATEMENTS OF OPERATIONS - USD ($)
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Loss from operations $ (264,000) $ (1,710,000)
Other income (expense):    
Interest income on investments held in Trust Account 52,000 19,000
Interest expense (116,000) (63,000)
Total other income (expense), net (64,000) (44,000)
Net loss (328,000) (1,754,000)
Iris    
Formation and operating costs 712,458 721,754
Forgiveness of unrelated vendor payables 115,189  
Loss from operations (827,647) (721,754)
Other income (expense):    
Unrealized gain on change in fair value of warrant liabilities (21,915) (178,734)
Unrealized gain on change in fair value of derivative liability   2,202
Interest income on investments held in Trust Account 16,894 47,241
Interest expense (57,098) (1,339)
Total other income (expense), net (62,119) (130,630)
Loss before income taxes (889,766) (852,384)
Provision for income taxes (1,616) (5,847)
Net loss $ (891,382) $ (858,231)
Weighted average shares outstanding - basic 7,055,859 7,275,074
Weighted average shares outstanding - diluted 7,055,859 7,275,074
Basic net loss per share $ (0.13) $ (0.12)
Diluted net loss per share $ (0.13) $ (0.12)
Iris | Class A common stock subject to possible redemption    
Other income (expense):    
Weighted average shares outstanding - basic 7,055,859 7,275,074
Basic net loss per share $ (0.13) $ (0.12)