v3.25.2
Consolidated Condensed Balance Sheets - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Current Assets:    
Cash $ 20,313 $ 39,938
Total Current Assets 20,313 39,938
Investments held in Trust Account 666,143 3,237,676
Total Assets 686,456 3,277,614
Current Liabilities    
Accounts payable and accrued expenses 2,771,011 2,594,035
Accrued franchise tax 10,288 23,571
Redemptions payable 233,624
Accrued excise tax 3,077,899 2,649,197
Income taxes payable 287,454 278,518
Convertible promissory note, net of debt discount 1,471,784 1,255,062
Conversion event liability 702,878 684,887
Total Current Liabilities 15,896,578 13,387,910
Warrant liabilities 13,668,000 4,180,000
Deferred underwriting fee payable 8,050,000 8,050,000
Total Liabilities 37,614,578 25,617,910
Commitments and Contingencies (Note 5)
Class A Common Stock subject to possible redemption. 25,572 and 249,659 shares are at redemption value of approximately $15.14 and $12.61 per share at June 30, 2025 and December 31, 2024, respectively. 387,193 3,148,662
Stockholders’ Deficit:    
Preferred Stock, $0.0001 par value; 1,000,000 shares authorized, no shares issued or outstanding
Accumulated deficit (37,315,890) (25,489,533)
Total Stockholders’ Deficit (37,315,315) (25,488,958)
Total Liabilities, Class A Common Stock Subject to Possible Redemption and Stockholders’ Deficit 686,456 3,277,614
Class A Common Stock    
Stockholders’ Deficit:    
Common stock, value 575 575
Class B Common Stock    
Stockholders’ Deficit:    
Common stock, value
Related Party    
Current Liabilities    
Advances from related parties 100,770 100,770
Note Payable—related party 1,829,710 390,710
Working Capital Loan—related party 17,935 17,935
Sponsor    
Current Liabilities    
Note Payable—Sponsor $ 5,393,225 $ 5,393,225