v3.25.2
STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Dec. 31, 2023
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation [Abstract]        
Net loss $ (328,000) $ (1,754,000) $ (3,546,000) $ (4,984,000)
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 (10,000) 425,000
Net cash provided by operating activities (159,000) (872,000) (1,451,000) (3,345,000)
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation [Abstract]        
Net cash used in investing activities (575,000) (700,000) (2,850,000) (819,000)
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation [Abstract]        
Net cash provided by (used in) financing activities 713,000 1,164,000 3,923,000 (450,000)
Net change in cash (21,000) (408,000) (378,000) (4,614,000)
Iris        
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation [Abstract]        
Net loss (891,382) (858,231) (2,904,299) (1,226,218)
Adjustments to reconcile net loss to net cash used in operating activities:        
Change in fair value of warrant liabilities     (19,044) (566,202)
Change in fair value of derivative liability   (2,202) (2,202) (102,226)
Forgiveness of unrelated vendor payables       (275,000)
Interest income on investments held in Trust Account (16,894) (47,241) (137,717) (553,641)
Accretion of discount on related party loans   1,339 1,339 103,089
Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity, Increase (Decrease) in Operating Capital [Abstract]        
Franchise tax receivable 5,200 19,100 48,000 (53,200)
Prepaid expenses and other current assets (4,381) (5,000) (1,664) 78,753
Franchise taxes payable       (447,133)
Income taxes payable 1,616 (265,988) (377,052) (159,858)
Accounts payable and accrued expenses 320,975 75,767 286,177 1,112,456
Net cash provided by operating activities (561,695) (903,722) (3,106,462) (2,089,180)
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation [Abstract]        
Proceeds from Trust Account for redemptions     1,802,869 10,657,185
Proceeds from Trust Account for tax payments 15,000 294,519 354,519 853,261
Extension deposits to Trust Account (31,406)   (189,139) (120,516)
Net cash used in investing activities 724,615 248,834 1,968,249 11,389,930
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation [Abstract]        
Redemption of Class A common stock (741,021)   (1,802,869) (10,657,185)
Proceeds from related party loan       400,000
Repayment of related party loan       (400,000)
Repayment of promissory note       (120,000)
Net cash provided by (used in) financing activities (166,021) 700,000 1,047,131 (9,424,965)
Net change in cash (3,101) 45,112 (91,082) (124,215)
Cash - beginning of the period 65,343 156,425 156,425 280,640
Cash - end of the period 62,242 201,537 65,343 156,425
Supplemental disclosure of non-cash operating and financing activities:        
Conversion of Class B common stock to Class A common stock       690
Remeasurement of Class A common stock subject to redemption value 37,585 86,389 248,882 420,786
Pending redemptions of Class A common shares 702,359 1,265,669 739,195  
Derivative on promissory note - related party       104,428
Excise tax 50,891 12,657 25,421 103,587
Income taxes paid   271,835 396,127 193,845
Recovery of excess redemptions - tax claim     294,669  
Deemed contribution for extension deposit from related party     160,677  
Related party | Iris        
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation [Abstract]        
Proceeds from promissory note       533,720
Liminatus | Iris        
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation [Abstract]        
Proceeds from promissory note $ 575,000 $ 700,000 $ 2,850,000 $ 818,500