Schedule of Consolidated Balance Sheets |
As of June 30, 2025 and December 31, 2024, the
ordinary shares reflected in the consolidated balance sheets are reconciled in the following table:
| |
Shares | | |
Amount | |
Ordinary shares subject to possible redemption – December 31, 2023 | |
| 4,537,829 | | |
$ | 50,477,963 | |
Redemption of shares ($11.47 per share) | |
| (3,785,992 | ) | |
| (43,425,328 | ) |
Subsequent measurement of Class A ordinary shares subject to possible redemption (income earned on Trust Account) | |
| - | | |
| 1,578,042 | |
Subsequent measurement of Class A ordinary shares subject to possible redemption (extension deposit) | |
| - | | |
| 390,328 | |
Ordinary shares subject to possible redemption – December 31, 2024 | |
| 751,837 | | |
| 9,021,005 | |
Subsequent measurement of Class A ordinary shares subject to possible redemption (income earned on Trust Account) | |
| - | | |
| 78,971 | |
Subsequent measurement of Class A ordinary shares subject to possible redemption (extension deposit) | |
| - | | |
| 45,191 | |
Ordinary shares subject to possible redemption – March 31, 2025 | |
| 751,837 | | |
$ | 9,145,167 | |
Redemption of shares ($12.17 per share) | |
| (708,098 | ) | |
| (8,617,553 | ) |
Subsequent measurement of Class A ordinary shares subject to possible redemption (income earned on Trust Account) | |
| - | | |
| 18,080 | |
Subsequent measurement of Class A ordinary shares subject to possible redemption (extension deposit) | |
| - | | |
| 2,624 | |
Ordinary shares subject to possible redemption – June 30, 2025 | |
| 43,739 | | |
| 548,318 | |
|
Schedule of Net Income Per Share |
The net (loss)/ income per share presented in
the consolidated statements of operations is based on the following:
| |
Three months ended June 30, 2025 | | |
Six months ended June 30, 2025 | | |
Three months ended June 30, 2024 | | |
Six months ended June 30, 2024 | |
Net (loss) /income | |
$ | (385,122 | ) | |
$ | (579,725 | ) | |
$ | 448,912 | | |
$ | 713,242 | |
Accretion of temporary equity to redemption value | |
| (20,704 | ) | |
| (144,866 | ) | |
| (790,157 | ) | |
| (1,594,042 | ) |
Net loss including accretion of temporary equity | |
$ | (405,826 | ) | |
$ | (724,591 | ) | |
$ | (341,245 | ) | |
$ | (880,800 | ) |
| |
For the Three Months Ended | | |
For the Three Months Ended | |
| |
June 30, 2025 | | |
June 30, 2024 | |
| |
| | |
Non- | | |
| | |
Non- | |
| |
Redeemable | | |
Redeemable | | |
Redeemable | | |
Redeemable | |
| |
Common | | |
Common | | |
Common | | |
Common | |
| |
Stock | | |
Stock | | |
Stock | | |
Stock | |
Basic and diluted net income (loss) per share: | |
| | |
| | |
| | |
| |
Numerators: | |
| | |
| | |
| | |
| |
Allocation of net loss including accretion of temporary equity | |
$ | (18,310 | ) | |
$ | (387,516 | ) | |
$ | (217,783 | ) | |
$ | (123,462 | ) |
Accretion of temporary equity to redemption value | |
| 20,704 | | |
| - | | |
| 790,157 | | |
| - | |
Allocation of net income/(loss) | |
$ | 2,394 | | |
$ | (387,516 | ) | |
$ | 572,374 | | |
$ | (123,462 | ) |
| |
| | | |
| | | |
| | | |
| | |
Denominators: | |
| | | |
| | | |
| | | |
| | |
Weighted-average shares outstanding | |
| 121,552 | | |
| 2,572,500 | | |
| 4,537,829 | | |
| 2,572,500 | |
Basic and diluted net income/ (loss) per share | |
$ | 0.02 | | |
$ | (0.15 | ) | |
$ | 0.13 | | |
$ | (0.05 | ) |
| |
For the Six Months Ended | | |
For the Six Months Ended | |
| |
June 30, 2025 | | |
June 30, 2024 | |
| |
| | |
Non- | | |
| | |
Non- | |
| |
Redeemable | | |
Redeemable | | |
Redeemable | | |
Redeemable | |
| |
Common | | |
Common | | |
Common | | |
Common | |
| |
Stock | | |
Stock | | |
Stock | | |
Stock | |
Basic and diluted net income (loss) per share: | |
| | |
| | |
| | |
| |
Numerators: | |
| | |
| | |
| | |
| |
Allocation of net loss including accretion of temporary equity | |
$ | (104,431 | ) | |
$ | (620,160 | ) | |
$ | (562,129 | ) | |
$ | (318,671 | ) |
Accretion of temporary equity to redemption value | |
| 144,866 | | |
| - | | |
| 1,594,042 | | |
| - | |
Allocation of net income/(loss) | |
$ | 40,435 | | |
$ | (620,160 | ) | |
$ | 1,031,913 | | |
$ | (318,671 | ) |
| |
| | | |
| | | |
| | | |
| | |
Denominators: | |
| | | |
| | | |
| | | |
| | |
Weighted-average shares outstanding | |
| 433,193 | | |
| 2,572,500 | | |
| 4,537,829 | | |
| 2,572,500 | |
Basic and diluted net income/ (loss) per share | |
$ | 0.09 | | |
$ | (0.24 | ) | |
$ | 0.23 | | |
$ | (0.12 | ) |
|