Schedule of company's financial assets and liabilities that were accounted for at fair value on a recurring basis |
| | | | | | | | | | | | | Description | | Amount at Fair Value | | Level 1 | | Level 2 | | Level 3 | March 31, 2025 (Unaudited) | | | | | | | | | | | | | Assets: | | | | | | | | | | | | | Cash held in Trust Account | | $ | 1,345,389 | | $ | 1,345,389 | | $ | — | | $ | — | Restricted cash - held in Trust Account | | | 702,359 | | | 702,359 | | | — | | | — | Liabilities: | | | | | | | | | | | | | Public Warrants | | | 207,000 | | | 207,000 | | | | | | | Private Warrants | | | 172,315 | | | — | | | — | | | 172,315 | December 31, 2024 | | | | | | | | | | | | | Assets: | | | | | | | | | | | | | Cash held in Trust Account | | $ | 2,016,274 | | $ | 2,016,274 | | $ | — | | $ | — | Restricted cash - held in Trust Account | | | 739,195 | | | 739,195 | | | — | | | — | Liabilities: | | | | | | | | | | | | | Public Warrants | | | 207,000 | | | 207,000 | | | — | | | — | Private Warrants | | | 150,400 | | | — | | | — | | | 150,400 |
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| | | | | | | | | | | | | | | Amount at Fair | | | | | | | | | | Description | | Value | | Level 1 | | Level 2 | | Level 3 | December 31, 2024 | | | | | | | | | | | | | Assets: | | | | | | | | | | | | | Cash equivalents held in Trust Account: | | $ | 2,016,274 | | $ | 2,016,274 | | $ | — | | $ | — | Restricted cash – held in Trust Account | | | 739,195 | | | 739,195 | | | — | | | — | Liabilities: | | | | | | | | | | | | | Public Warrants | | | 207,000 | | | 207,000 | | | — | | | — | Private Warrants | | | 150,400 | | | — | | | — | | | 150,400 | December 31, 2023 | | | | | | | | | | | | | Assets: | | | | | | | | | | | | | Cash equivalents held in Trust | | | 4,291,332 | | | 4,291,332 | | | — | | | — | Liabilities: | | | | | | | | | | | | | Public Warrants | | | 207,690 | | | 207,690 | | | — | | | — | Private Warrants | | | 168,754 | | | — | | | — | | | 168,754 | Derivative liability | | $ | 2,202 | | $ | — | | $ | — | | $ | 2,202 |
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Schedule of key inputs into the monte carlo simulation model for the warrants |
| | | | | | | | | | March 31, | | | | | | | 2025 | | | | | | | (Unaudited) | | December 31, 2024 | | Risk-free interest rate | | | 4.10 | % | | 4.19 | % | Expected term (years) | | | 0.83 | | | 0.80 | | Expected volatility | | | 14.40 | % | | — | % | Stock Price | | $ | 9.00 | | $ | 11.22 | | Exercise Price | | $ | 11.50 | | $ | 11.50 | |
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| | | | | | | | | | December 31, 2024 | | December 31, 2023 | | Risk-free interest rate | | | 4.19 | % | | 4.91 | % | Expected term (years) | | | 0.80 | | | 0.87 | | Expected volatility | | | — | % | | 5.7 | % | Stock Price | | $ | 11.22 | | $ | 10.33 | | Exercise Price | | $ | 11.50 | | $ | 11.50 | |
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Schedule of change in the fair value of the warrant liabilities classified as level 3 |
| | | | Fair Value at December 31, 2024 | | $ | 150,400 | Change in fair value | | | 21,915 | Fair Value at March 31, 2025 | | $ | 172,315 |
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| | | | | | | | | | Warrant Liabilities | | Derivative Liability | | Fair value at December 31, 2022 | | $ | 418,246 | | $ | — | | Issuance of derivative liability | | | — | | | 104,428 | | Change in fair value | | | (249,492) | | | (102,226) | | Fair value at December 31, 2023 | | $ | 168,754 | | $ | 2,202 | | Change in fair value | | | (18,354) | | | (2,202) | | Fair value at December 31, 2024 | | $ | 150,400 | | $ | — | |
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