v3.25.2
Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:            
Net (loss) income $ (738,555) $ (375,307) $ (1,632,451) $ (592,492) $ (978,445) $ 1,320,324
Adjustments to reconcile net (loss) income to net cash used in operating activities:            
Interest income on cash and investments held in Trust Account (32,099) (342,667) (66,336) (687,312) (1,285,520) (3,090,407)
Change in fair value of warrant liabilities 1,539 11,799 20,064 26,619 855 (4,389)
Amortization of debt discount 223,060 611,862    
Changes in operating assets and liabilities:            
Prepaid expenses 46,663 (9,655) 48,846 (14,364) 28,733 81,820
Deferred tax liability         (79,358)
Due to related parties         90,000
Income tax payable 73,291 42,889 (183,043) (50,226) 300,678
Interest expense accrual         188,203 57,255
Excise tax payable     261,326    
Accrued interest payable 62,137 33,395 124,964 76,997    
Accounts payable 63,554 (126,663) 124,789 (86,093) (62,208) (42,036)
Excise tax liability 163,662     109,368
Franchise tax payable 50,000 (150,000) 33,600 (100,000) 9,906 (36,365)
Net cash used in operating activities (160,039) (885,807) (430,447) (1,559,688) (2,039,334) (1,402,478)
Cash Flows from Investing Activities:            
Cash deposited to Trust Account (180,000) (180,000) (310,890) (360,000) (720,000) (1,230,000)
Cash withdrawn from Trust Account in connection with redemption of common stock         26,890,379 93,521,369
Cash withdrawn from Trust Account to pay tax obligations 143,612 433,768 433,768 539,788
Net cash provided by investing activities (180,000) (36,388) (310,890) 73,768 26,604,147 92,831,157
Cash Flows from Financing Activities:            
Proceeds from promissory note - related party 850,000 1,550,000    
Proceeds from promissory note - third party 30,000 450,000    
Proceeds from promissory note         2,500,000 1,700,000
Due to affiliate - advance 60,000 60,000 390,000
Common stock redemption         (26,890,379) (93,521,369)
Net cash used in financing activities 90,000 850,000 510,000 1,550,000 (24,390,379) (91,431,369)
NET CHANGE IN CASH (250,039) (72,195) (231,337) 64,080 174,434 (2,690)
CASH, BEGINNING OF PERIOD 253,507 79,073 253,507 79,073 79,073 81,763
CASH, END OF PERIOD 3,468 6,878 22,170 143,153 253,507 79,073
Supplementary cash flow information:            
Cash paid for income taxes 290,131 290,131 320,073
Cash paid for interest expense
Non-cash investing and financing activities:            
Remeasurement of Common stock subject to redemption (as restated) 162,099 455,764 300,737 896,588 2,175,180 3,595,663
Gain on modification of terms of promissory notes and advances from affiliate $ 940,847 940,847    
Excise tax accrued for common stock redemption     $ 26,173    
Excise tax accrued for common stock redemptions         $ 268,904 $ 935,214