v3.25.2
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation [Abstract]    
Net loss $ (328,000) $ (1,754,000)
Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity, Increase (Decrease) in Operating Capital [Abstract]    
Accounts payable and accrued expenses 121,000 6,000
Net cash provided by operating activities (159,000) (872,000)
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation [Abstract]    
Net cash used in investing activities (575,000) (700,000)
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation [Abstract]    
Net cash provided by (used in) financing activities 713,000 1,164,000
Net change in cash (21,000) (408,000)
Iris    
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation [Abstract]    
Net loss (891,382) (858,231)
Adjustments to reconcile net loss to net cash used in operating activities:    
Unrealized loss on change in fair value of warrant liabilities 21,915 178,734
Unrealized loss on change in fair value of derivative liability   (2,202)
Interest income on investments held in Trust Account (16,894) (47,241)
Accretion of discount on related party loans   1,339
Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity, Increase (Decrease) in Operating Capital [Abstract]    
Due from Sponsor 1,256  
Franchise tax receivable 5,200 19,100
Prepaid expenses and other current assets (4,381) (5,000)
Accounts payable and accrued expenses 320,975 75,767
Income taxes payable 1,616 (265,988)
Net cash provided by operating activities (561,695) (903,722)
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation [Abstract]    
Proceeds from Trust Account for tax payments 15,000 294,519
Advances to Trust Account   (45,685)
Redemption of investments 741,021  
Extension deposits to Trust Account (31,406)  
Net cash used in investing activities 724,615 248,834
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation [Abstract]    
Redemption of Class A common stock (741,021)  
Net cash provided by (used in) financing activities (166,021) 700,000
Net change in cash (3,101) 45,112
Cash - beginning of the period 65,343 156,425
Cash - end of the period 62,242 201,537
Supplemental disclosure of cash flow information:    
Cash paid for income taxes   271,835
Supplemental disclosure of non-cash operating and financing activities:    
Remeasurement of Class A common stock subject to redemption value 37,585 86,389
Pending redemptions of Class A common stock 702,359 1,265,669
Excise tax payable 50,891 12,657
Iris | Liminatus    
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation [Abstract]    
Proceeds from promissory note $ 575,000 $ 700,000