NOTE
6 – COMMON STOCK SUBJECT TO POSSIBLE REDEMPTION
The
Company’s Common Stock features certain redemption rights that are considered to be outside of the Company’s control and
subject to occurrence of uncertain future events. Accordingly, Common Stock subject to possible redemption is presented at redemption
value as temporary equity, outside of the stockholders’ equity section of the Company’s balance sheet.
The
following is a reconciliation of the Company’s Common Stock subject to possible redemption as of December 31, 2025 and 2024.
SCHEDULE OF COMMON STOCK SUBJECT TO POSSIBLE REDEMPTION
| | |
Common Shares Subject to Possible
Redemption | |
| | |
| |
| Balance, December 31, 2023 | |
$ | 12,453,412 | |
| Deposits to Trust Account | |
| 485,000 | |
| Remeasurement of common stock subject to possible redemption | |
| 415,047 | |
| Taxes withdrawn from Trust Account | |
| (40,050 | ) |
| Amounts owed to Trust Account in connection with over withdrawal | |
| 97,434 | |
| Redemption of common stock | |
| (10,168,702 | ) |
| Balance, December 31, 2024 | |
| 3,242,141 | |
| Deposits to Trust Account | |
| 360,000 | |
| Redemption of common stock | |
| (517,850 | ) |
| Remeasurement of common stock subject to possible redemption | |
| 100,355 | |
| Balance, December 31, 2025 | |
$ | 3,184,646 | |
|