Schedule of Common Stock Subject to Possible Redemption |
As
of March 31, 2025 and December 31, 2024, the shares of common stock subject to possible redemption reflected in the consolidated balance
sheets is reconciled in the following table:
Schedule
of Common Stock Subject to Possible Redemption
| |
Schedule of Common Stock Subject to Possible Redemption
(As Restated) | |
| |
Shares | | |
Amount | |
Common stock
subject to possible redemption, December 31, 2023 | |
| 2,562,567 | | |
| 27,938,713 | |
Less: | |
| | | |
| | |
Redemptions | |
| (2,285,056 | ) | |
| (26,890,379 | ) |
Plus: | |
| | | |
| | |
Remeasurement of carrying value to redemption
value | |
| — | | |
| 2,175,180 | |
Common
stock subject to possible redemption, December 31, 2024 | |
| 277,511 | | |
$ | 3,223,514 | |
Plus: | |
| | | |
| | |
Remeasurement of
carrying value to redemption value (as restated) | |
| — | | |
| 162,099 | |
Common
stock subject to possible redemption, March 31, 2025 (as restated) | |
| 277,511 | | |
$ | 3,385,613 | |
|
As
of June 30, 2025 and December 31, 2024, the shares of common stock subject to possible redemption reflected in the consolidated balance
sheets is reconciled in the following table:
Schedule
of Common Stock Subject to Possible Redemption
| |
Schedule of Common Stock Subject to Possible Redemption | |
| |
Shares | | |
Amount | |
Common stock subject to possible redemption, December 31, 2023 | |
| 2,562,567 | | |
| 27,938,713 | |
Less: | |
| | | |
| | |
Redemptions | |
| (2,285,056 | ) | |
| (26,890,379 | ) |
Plus: | |
| | | |
| | |
Remeasurement of carrying value to redemption value | |
| — | | |
| 2,175,180 | |
Common stock subject to possible redemption, December 31, 2024 | |
| 277,511 | | |
$ | 3,223,514 | |
Plus: | |
| | | |
| | |
Remeasurement of carrying value to redemption value | |
| — | | |
| 162,099 | |
Common stock subject to possible redemption, March 31, 2025 | |
| 277,511 | | |
$ | 3,385,613 | |
Plus: | |
| | | |
| | |
Remeasurement of carrying value to redemption value | |
| — | | |
| 138,638 | |
Redemptions | |
| (204,910 | ) | |
| (2,594,214 | ) |
Common stock subject to possible redemption, June 30, 2025 | |
| 72,601 | | |
$ | 930,037 | |
|
As
of December 31, 2024 and 2023, the shares of common stock subject to possible redemption reflected in the consolidated balance sheets
is reconciled in the following table:
Schedule
of Common Stock Subject to Possible Redemption
| |
Schedule of Common Stock Subject to Possible Redemption
(As Restated) | |
| |
Shares | | |
Amount | |
Common stock subject to possible redemption, December 31, 2022 | |
| 11,500,000 | | |
| 117,864,419 | |
Less: | |
| | | |
| | |
Redemptions (paid in April and November 2023) | |
| (8,937,433 | ) | |
| (93,521,369 | ) |
Plus: | |
| | | |
| | |
Remeasurement of carrying value to redemption value | |
| — | | |
| 3,595,663 | |
Common stock subject to possible redemption, December 31, 2023 | |
| 2,562,567 | | |
| 27,938,713 | |
Plus: | |
| | | |
| | |
Remeasurement of carrying value to redemption value (as restated) | |
| — | | |
| 2,175,180 | |
Less: | |
| | | |
| | |
Redemptions | |
| (2,285,056 | ) | |
| (26,890,379 | ) |
Common stock subject to possible redemption, December 31,
2024 (as restated) | |
| 277,511 | | |
$ | 3,223,514 | |
|
Schedule of Net Loss Basic and Diluted Per Share |
The
following table reflects the calculation of basic and diluted net (loss) income per common share (in dollars, except per share amounts):
Schedule of Net Loss Basic and Diluted Per Share
| |
2025 | | |
2024 | |
| |
For
the Three Months Ended March 31, | |
| |
2025
(As Restated) | | |
2024 | |
Net loss | |
$ | (738,555 | ) | |
$ | (375,307 | ) |
Remeasurement of common
stock subject to redemption (as restated) | |
| (162,099 | ) | |
| (455,764 | ) |
Net loss including
remeasurement of common stock subject to redemption value (as restated) | |
$ | (900,654 | ) | |
$ | (831,071 | ) |
| |
Redeemable | | |
Non-redeemable | | |
Redeemable | | |
Non-redeemable | |
| |
For
the Three Months Ended March 31, | |
| |
2025
(As Restated) | | |
2024 | |
| |
Redeemable | | |
Non-redeemable | | |
Redeemable | | |
Non-redeemable | |
Basic and diluted net
(loss) income per share of common stock | |
| | | |
| | | |
| | | |
| | |
Numerator: | |
| | | |
| | | |
| | | |
| | |
Allocation of net
loss including remeasurement of common stock subject to redemption value (as restated) | |
$ | (67,143 | ) | |
$ | (833,511 | ) | |
$ | (354,499 | ) | |
$ | (476,572 | ) |
Remeasurement of common
stock subject to redemption (as restated) | |
| 162,099 | | |
| — | | |
| 455,764 | | |
| — | |
Allocation
of net (loss) income, as adjusted (as restated) | |
$ | 94,956 | | |
$ | (833,511 | ) | |
$ | 101,265 | | |
$ | (476,572 | ) |
Denominator: | |
| | | |
| | | |
| | | |
| | |
Basic and diluted weighted average shares
outstanding | |
| 277,511 | | |
| 3,445,000 | | |
| 2,562,567 | | |
| 3,445,000 | |
Basic
and diluted net (loss) income per share of common stock (as restated) | |
$ | 0.34 | | |
$ | (0.24 | ) | |
$ | 0.04 | | |
$ | (0.14 | ) |
|
The
following table reflects the calculation of basic and diluted net income (loss) per common share (in dollars, except per share amounts):
Schedule
of Net Income (Loss) Basic and Diluted Per Share
| |
2025 | | |
2024 | |
| |
For the Three Months Ended June 30, | |
| |
2025 | | |
2024 | |
Net loss | |
$ | (893,896 | ) | |
$ | (217,185 | ) |
Remeasurement of common stock subject to redemption | |
| (138,638 | ) | |
| (440,824 | ) |
Net loss including remeasurement of common stock subject to redemption value | |
$ | (1,032,534 | ) | |
$ | (658,009 | ) |
| |
Redeemable | | |
Non-redeemable | | |
Redeemable | | |
Non-redeemable | |
| |
For the Three Months Ended June 30, | |
| |
2025 | | |
2024 | |
| |
Redeemable | | |
Non-redeemable | | |
Redeemable | | |
Non-redeemable | |
Basic and diluted net income (loss) per share of common stock | |
| | | |
| | | |
| | | |
| | |
Numerator: | |
| | | |
| | | |
| | | |
| | |
Allocation of net loss including remeasurement of common stock subject to redemption value | |
$ | (61,706 | ) | |
$ | (970,828 | ) | |
$ | (280,678 | ) | |
$ | (377,331 | ) |
Remeasurement of common stock subject to redemption | |
| 138,638 | | |
| — | | |
| 440,824 | | |
| — | |
Allocation of net income (loss), as adjusted | |
$ | 76,932 | | |
$ | (970,828 | ) | |
$ | 160,146 | | |
$ | (377,331 | ) |
Denominator: | |
| | | |
| | | |
| | | |
| | |
Basic and diluted weighted average shares outstanding | |
| 218,965 | | |
| 3,445,000 | | |
| 2,562,567 | | |
| 3,445,000 | |
Basic and diluted net income (loss) per share of common stock | |
$ | 0.35 | | |
$ | (0.28 | ) | |
$ | 0.06 | | |
$ | (0.11 | ) |
| |
2025 | | |
2024 | |
| |
For the Six Months Ended June 30, | |
| |
2025 | | |
2024 | |
Net loss | |
$ | (1,632,451 | ) | |
$ | (592,492 | ) |
Remeasurement of common stock subject to redemption | |
| (300,737 | ) | |
| (896,588 | ) |
Net loss including remeasurement of common stock subject to redemption value | |
$ | (1,933,188 | ) | |
$ | (1,489,080 | ) |
| |
Redeemable | | |
Non-redeemable | | |
Redeemable | | |
Non-redeemable | |
| |
For the Six Months Ended June 30, | |
| |
2025 | | |
2024 | |
| |
Redeemable | | |
Non-redeemable | | |
Redeemable | | |
Non-redeemable | |
Basic and diluted net loss per share of common stock | |
| | | |
| | | |
| | | |
| | |
Numerator: | |
| | | |
| | | |
| | | |
| | |
Allocation of net loss including remeasurement of common stock subject to redemption value | |
$ | (129,859 | ) | |
$ | (1,803,329 | ) | |
$ | (635,177 | ) | |
$ | (853,903 | ) |
Remeasurement of common stock subject to redemption | |
| 300,737 | | |
| — | | |
| 896,588 | | |
| — | |
Allocation of net income (loss), as adjusted | |
$ | 170,878 | | |
$ | (1,803,329 | ) | |
$ | 261,411 | | |
$ | (853,903 | ) |
Denominator: | |
| | | |
| | | |
| | | |
| | |
Basic and diluted weighted average shares outstanding | |
| 248,076 | | |
| 3,445,000 | | |
| 2,562,567 | | |
| 3,445,000 | |
Basic and diluted net income (loss) per share of common stock | |
$ | 0.69 | | |
$ | (0.52 | ) | |
$ | 0.10 | | |
$ | (0.25 | ) |
|
The
following table reflects the calculation of basic and diluted net (loss) income per common share (in dollars, except per share amounts):
Schedule of Net Loss Basic and Diluted Per Share
| |
2024 | | |
2023 | |
| |
For the Years Ended December 31, | |
| |
2024
(As Restated) | | |
2023 | |
Net (loss) income | |
$ | (978,445 | ) | |
$ | 1,320,324 | |
Remeasurement of common stock subject to redemption (as restated) | |
| (2,175,180 | ) | |
| (3,595,663 | ) |
Net loss including remeasurement of common stock subject to redemption value (as restated) | |
$ | (3,153,625 | ) | |
$ | (2,275,339 | ) |
| |
Redeemable | | |
Non-redeemable | | |
Redeemable | | |
Non-redeemable | |
| |
For the Years Ended December 31, | |
| |
2024
(As Restated) | | |
2023 | |
| |
Redeemable | | |
Non-redeemable | | |
Redeemable | | |
Non-redeemable | |
Basic and diluted net loss per share of common stock | |
| | | |
| | | |
| | | |
| | |
Numerator: | |
| | | |
| | | |
| | | |
| | |
Allocation of net loss including remeasurement of common stock subject to redemption value (as restated) | |
$ | (1,302,885 | ) | |
$ | (1,850,740 | ) | |
$ | (1,423,357 | ) | |
$ | (851,982 | ) |
Remeasurement of common stock subject to redemption (as restated) | |
| 2,175,180 | | |
| — | | |
| 3,595,663 | | |
| — | |
Allocation of net income (loss), as adjusted (as restated) | |
$ | 872,295 | | |
$ | (1,850,740 | ) | |
$ | 2,172,306 | | |
$ | (851,982 | ) |
Denominator: | |
| | | |
| | | |
| | | |
| | |
Basic and diluted weighted average shares outstanding | |
| 2,425,214 | | |
| 3,445,000 | | |
| 5,755,364 | | |
| 3,445,000 | |
Basic and diluted net income (loss) per share of common stock (as restated) | |
$ | 0.36 | | |
$ | (0.54 | ) | |
$ | 0.38 | | |
$ | (0.25 | ) |
|