v3.25.2
Segment Information
 6 Months Ended
Jun. 30, 2025
Segment Information [Abstract]  
SEGMENT INFORMATION

NOTE 9 – SEGMENT INFORMATION

 

ASC Topic 280, “Segment Reporting,” establishes standards for companies to report in their financial statement information about operating segments, products, services, geographic areas, and major customers. Operating segments are defined as components of an enterprise for which separate financial information is available that is regularly evaluated by the Company’s chief operating decision maker, or group, in deciding how to allocate resources and assess performance. The Company has adopted the guidance in ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, in the accompanying financial statements using the retrospective method of adoption.

The Company’s chief operating decision maker has been identified as the Chief Executive Officer (“CODM”), who reviews the operating results for the Company as a whole to make decisions about allocating resources and assessing financial performance. Accordingly, management has determined that the Company only has one operating and reportable segment.

 

When evaluating the Company’s performance and making key decisions regarding resource allocation the CODM reviews several key metrics, which include the following:

 

   Three
months
ended
June 30,
2025		   Three
months
ended
June 30,
2024		   Six
months
ended
June 30,
2025		   Six
months
ended
June 30,
2024		 
Professional services fee in connection with Business Combination  $(313,643)  $(59,345)  $(428,550)  $(278,673)
Other formation and operating costs   (61,214)   (108,841)   (192,907)   (257,765)
Total formation and operating costs   (374,857)   (168,186)   (621,457)   (536,438)
Interest expense   (28,345)   (23,059)   (55,319)   (44,362)
Interest earned on investment held in Trust Account   18,080    640,157    97,051    1,294,042 
Net (loss) income  $(385,122)  $448,912   $(579,725)  $713,242 

 

The key measures of segment profit or loss reviewed by our CODM are interest earned on investment in Trust Account and formation and operating expenses. The CODM reviews interest earned on investment in Trust Account to measure and monitor shareholder value and determine the most effective strategy of investment with the Trust Account funds while maintaining compliance with the trust agreement. Within formation and operating costs, the CODM specifically reviews professional service fee in connection with the business combination, which are a significant segment expense, and include legal fees, and advisory fees, as these represent significant costs affecting the Company’s consummation of the Business Combination. Other formation and operating costs, including accounting expenses, printing expenses, and regulatory filing fees, are reviewed in aggregate to ensure alignment with budget and contractual obligations. These expenses are monitored to manage and forecast cash available to complete a business combination within the required period.