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Note 1 – Description of Organization and Business Operations Organization and General Alpha Star Acquisition Corporation (the “Company”) is a blank check company incorporated in the Cayman Islands on March 11, 2021. The Company was formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses (“Business Combination”). The Company has selected December 31 as its fiscal year end. Although the Company is not limited to a particular industry or geographic region for purposes of consummating a Business Combination, the Company intends to focus on businesses that have a connection to the Asian market. The Company is an early stage and emerging growth company and, as such, the Company is subject to all of the risks associated with early stage and emerging growth companies. The Company’s sponsor is A-Star Management Corporation, a British Virgin Islands incorporated company (the “Sponsor”). The Company will not generate any operating revenues until after the completion of a Business Combination, at the earliest. The Company will generate non-operating income in the form of interest income from the proceeds derived from the Initial Public Offering (the “IPO”). The Company initially had 9 months from the closing of the IPO (or up to 21 months from the closing of IPO) to consummate a Business Combination (the “Combination Period”). If the Company fails to consummate a Business Combination within the Combination Period, it will trigger its automatic winding up, liquidation and subsequent dissolution pursuant to the terms of the Company’s amended and restated memorandum and articles of association. As a result, this has the same effect as if the Company had formally gone through a voluntary liquidation procedure under the Companies Law. Accordingly, no vote would be required from the Company’s shareholders to commence such a voluntary winding up, liquidation and subsequent dissolution. The Company’s IPO was declared effective on December 13, 2021. On December 15, 2021, the Company consummated the IPO of <span id="xdx_90F_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20211215__20211215__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zlBUwcjav853" title="Sale of units in initial public offering">11,500,000 units which include an additional <span id="xdx_906_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20211215__20211215__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwritersMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_z0OGinLX5Rxh" title="Sale of units in initial public offering">1,500,000 units as a result of the underwriters’ full exercise of the over-allotment, at $10.00 per Unit, generating gross proceeds of $<span id="xdx_90E_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_c20211215__20211215__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zLK4tL4alG3j" title="Sale of stock, consideration received on transaction">115,000,000, which is described in Note 3. Concurrently with the closing of the IPO, the Company consummated the sale of <span id="xdx_90F_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20211215__20211215__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zJdbt0ecAGch" title="Sale of units in initial public offering">330,000 units (the “Private Placement”) at a price of $10.00 per Private Unit in a private placement to the Sponsor, generating gross proceeds of $<span id="xdx_903_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_c20211215__20211215__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_z3uhYz08BHr4" title="Sale of stock, consideration received on transaction">3,300,000, which is described in Note 4. Shareholders Meetings On July 13, 2023, the Company held an Annual General Meeting, where shareholders approved to amend the Company’s Amended and Restated Memorandum and Articles of Association to extend the date by which the Company must consummate a business combination to March 15, 2024 (27 months from the consummation of the IPO). In connection with the extension vote on the Annual General Meeting, 2,436,497 public shares were rendered for redemption. The total redemption payment is $26,094,883 and all distributed during July and August 2023. On January 10, 2024, the Company held an Extraordinary General Meeting, where shareholders approved the amendments of the Company’s Amended and Restated Memorandum and Articles of Association to (i) extend the date by which the Company must consummate a business combination to September 15, 2024 (33 months from the consummation of the IPO); (ii) allow the Company to undertake an initial business combination with an entity or business (“Target Business”), with a physical presence, operation, or other significant ties to China (a “China-based Target”) or which may subject the post-business combination business or entity to the laws, regulations and policies of China (including Hong Kong and Macao), or an entity or business that conducts operations in China through variable interest entities, or VIEs, pursuant to a series of contractual arrangements (“VIE Agreements”) with the VIE and its shareholders on one side, and a China-based subsidiary of the China-based Target (the “WFOE”), on the other side (the “Target Limitation Amendment Proposal”); and (iii) eliminate the limitation that the Company shall not redeem its public shares to the extent that such redemption would result in the ordinary shares, or the securities of any entity that succeeds the Company as a public company, becoming “penny stock” (as defined in accordance with Rule 3a51-1 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), or cause the Company to not meet any greater net tangible asset or cash requirement which may be contained in the agreement relating to a Business Combination (the “Redemption Limitation Amendment Proposal”). In connection with the stockholders’ extension vote at the Extraordinary General Meeting held on January 10, 2024, a total of 3,319,923 public shares were rendered for redemption. The total redemption payment was $37,183,138 and all were distributed in January and February 2024. On July 12, 2024, the Company held an Annual General Meeting of its shareholders. At the Annual General Meeting, the shareholders approved certain amendments to the Company’s Amended and Restated Memorandum and Articles of Association to extend the date by which the Company must consummate a business combination to December 15, 2024. In connection with the stockholders’ extension vote at the Annual General Meeting held on July 12, 2024, a total of 4,840,581 public shares were rendered for redemption at $11.61 per share. The total redemption payment was $56,199,145 and was distributed in July and October 2024. On December 27, 2024, the Company held an Extraordinary General Meeting of its shareholders. At the Extraordinary General Meeting, the shareholders approved certain amendments to the Company’s Amended and Restated Memorandum and Articles of Association to extend the date by which the Company must consummate a business combination to June 15, 2025. In connection with the shareholders meeting to vote for such extension, the public shareholders were entitled to exercise the redemption right and 880,335 public shares were tendered for redemption. The total redemption payment was $10,819,317 and was distributed in January 2025. On May 2, 2025, the Company held an Extraordinary General Meeting of its shareholders. At the Extraordinary General Meeting, the shareholders approved certain proposals related to the business combination with OU XDATA GROUP. In connection with the shareholders meeting to vote for business combination approval, the public shareholders were entitled to exercise the redemption right and 16,029 public shares were tendered for redemption, but the shares have not been redeemed as of March 31, 2026. The redemption price will be determined on the date that is two business days prior to the consummation of the Business Combination. On June 12, 2025, the Company held an Extraordinary General Meeting of its shareholders. At the Extraordinary General Meeting, the shareholders approved certain amendments to the Company’s Amended and Restated Memorandum and Articles of Association to extend the date by which the Company must consummate a business combination to December 15, 2025. In connection with the shareholders meeting to vote for such extension, the public shareholders were entitled to exercise the redemption right and no public shares tendered for redemption. On December 11, 2025, the Company held an Extraordinary General Meeting of its shareholders. At the Extraordinary General Meeting, the shareholders approved certain amendments to the Company’s Amended and Restated Memorandum and Articles of Association to extend the date by which the Company must consummate a business combination to December 15, 2026. In connection with the shareholders meeting to vote for such extension, the public shareholders were entitled to exercise the redemption right and 702 public shares were tendered for redemption. The total redemption payment was $22,190 at a redemption price of $31.61 per share and was distributed in April 2026. Extension fees From September 13, 2022 to June 30, 2023, the Company was requested to draw the funds of $383,333 and deposited the amount into the Trust Account monthly to extend the period of time the Company had to consummate a business combination. The $383,333 extension fee represented approximately $0.033 per public share. The extension funds will decrease if certain shareholders redeem the shares. In July 2023, due to the Annual General Meeting discussed above and the redemption of public shares, the monthly extension fees were reduced to $302,116, which represented $0.033 per public share. In January 2024, after shareholders’ approval at the Extraordinary General Meeting discussed above, the Company decreased the monthly extension fees to the lower of $70,000 for all remaining public shares and $0.033 for each remaining public share. On July 12, 2024, after shareholders’ approval the Annual General Meeting discussed above, the Company decreased the monthly extension fees to $35,000 for all remaining public shares, starting from July 2024. Business Combination Agreement On September 12, 2024, the Company entered into a Business Combination Agreement with OU XDATA GROUP (“XDATA”), a Company incorporated in Estonia, and Roman Eloshvili, the sole shareholder of XDATA. The Business Combination Agreement provides for: (1) the Company will incorporate a Cayman Islands exempted company (“PubCo”) in accordance with the Companies Act (Revised) of the Cayman Islands; (2) the merger of the Company with and into PubCo (the “Reincorporation Merger”), with PubCo surviving the Reincorporation Merger; and (3) the share exchange between PubCo and the shareholder of XDATA, resulting in XDATA being a wholly owned subsidiary of PubCo. Following the Business Combination, PubCo will be a publicly traded company. Pursuant to the Business Combination Agreement and subject to the approval of the shareholders of the Company and XDATA, among other things, at the effective time of the Reincorporation Merger, each ordinary share of the Company, par value $0.001 per share issued and outstanding, will automatically be converted into the right of the holder thereof to receive one ordinary share of PubCo; each issued and outstanding warrant of the Company sold to the public and to A-Star Management Corporation, in a private placement in connection with the Company’s IPO will automatically and irrevocably be assumed by PubCo and converted into one corresponding warrant exercisable to purchase one-half (1/2) of one PubCo Ordinary Share, subject to the same terms and conditions prior to the First Effective Time; and each seven issued and outstanding Rights of the Company will automatically and irrevocably be assumed by PubCo and converted into one corresponding PubCo Ordinary Share. No fractional PubCo Ordinary Shares will be issued in connection with such conversion and the number of PubCo Ordinary Shares to be issued to such holder upon such conversion will be rounded down to the nearest whole number and no cash will be paid in lieu of such Rights of the Company. Immediately prior to the First Effective Time, each issued and outstanding unit of the Company, each consisting of one Ordinary Share, one Right and one Warrant of the Company, will be automatically separated and the holder thereof will be deemed to hold one Ordinary Share, one Right and one Warrant of the Company. On September 4, 2024, Xdata Group (“PubCo”) was incorporated as a Cayman Islands exempted company and the wholly owned subsidiary of the Company in accordance to the Business Combination Agreement. On September 21, 2024, the Company, PubCo and XDATA entered into an Expense Settlement Agreement, pursuant to which, XDATA agreed to bear and cover the cost in relation to PubCo’s business operating cost starting from September 1, 2024. PubCo and the Company agreed that XDATA will assume financial responsibility for such expenses as detailed in expense reports or invoices provided by third parties or directly incurred by PubCo. As a result of the Expense Settlement Agreement, the Company assumed no liabilities for the Pubco’s expenses incurred during the three months ended March 31, 2026 and 2025. For the three months ended March 31, 2026 and 2025, PubCo incurred expenses amounting to $25,680 and $66,966 which were either paid or will be subsequently paid by XDATA. The Trust Account As of December 15, 2021, a total of $115,682,250 of the net proceeds from the IPO and the Private Placement transaction completed with the Sponsor was deposited in a trust account (the “Trust Account”) established for the benefit of the Company’s public stockholders with Wilmington Trust, National Association acting as trustee. The amount exceeding $115,000,000, $682,254, had been transferred to the Company’s escrow cash account as its working capital. The funds held in the Trust Account are invested only in United States government treasury bills, bonds or notes having a maturity of 180 days or less, or in money market funds meeting the applicable conditions under Rule 2a-7 promulgated under the Investment Company Act of 1940 and investing solely in United States government treasuries. Except with respect to interest earned on the funds held in the Trust Account that may be released to the Company to pay its income or other tax obligations, the proceeds will not be released from the Trust Account until the earlier of the completion of a Business Combination or the Company’s liquidation. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard, Transfer of Listing On December 16, 2024, the Company was notified by Nasdaq of its upcoming delisting due to the failure to complete its initial business combination by December 13, 2024. Trading ceased on December 23, 2024, and a Form 25-NSE has been filed by Nasdaq with the SEC on May 20, 2025. Following the filing of the Form 25-NSE, the Company’s securities have been delisted from Nasdaq. The Company did not appeal the delisting, and its ordinary shares, units, rights and warrants are currently traded on the OTCID Market. Despite this, the planned business combination with OU XDATA GROUP remains on track, with intentions to apply for Nasdaq listing post-merger. Liquidity and Going Concern As of March 31, 2026 and December 31, 2025, the Company had no cash balance and had a working capital deficit of $2,293,398 and $2,015,785, respectively. In order to finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor, or certain of the Company’s officers and directors may, but are not obligated to, provide the Company related party loans up to $1,500,000. On September 13, 2022, December 31, 2022, March 13, 2023, and September 20, 2023, the Company issued four promissory notes (collectively, the “Notes”) in the principal amount of up to $<span id="xdx_90A_eus-gaap--DebtInstrumentFaceAmount_iI_c20220913__us-gaap--DebtInstrumentAxis__custom--FirstNoteMember__srt--TitleOfIndividualAxis__custom--SponsorMember_z7plft2N1AB5" title="Principal amount">1,000,000, $<span id="xdx_901_eus-gaap--DebtInstrumentFaceAmount_iI_c20221231__us-gaap--DebtInstrumentAxis__custom--SecondNoteMember__srt--TitleOfIndividualAxis__custom--SponsorMember_zBCG3lfHPjXg" title="Principal amount">1,300,000, $<span id="xdx_902_eus-gaap--DebtInstrumentFaceAmount_iI_c20230313__us-gaap--DebtInstrumentAxis__custom--ThirdNoteMember__srt--TitleOfIndividualAxis__custom--SponsorMember_z9qG9dnKnKfj" title="Principal amount">2,500,000, and $<span id="xdx_909_eus-gaap--DebtInstrumentFaceAmount_iI_c20230920__us-gaap--DebtInstrumentAxis__custom--FourthNoteMember__srt--TitleOfIndividualAxis__custom--SponsorMember_zY1wGXtbR5L4" title="Principal amount">2,500,000 to the Sponsor, respectively, pursuant to which the Sponsor shall loan to the Company up to the corresponding principal to pay the extension fee and transaction cost. In addition, on August 26, 2024, the Company entered into a loan agreement with the Sponsor, pursuant to which the Sponsor agreed to loan an aggregate of $<span id="xdx_904_eus-gaap--PaymentsOfLoanCosts_c20221231__20221231__us-gaap--DebtInstrumentAxis__custom--SecondNoteMember__srt--TitleOfIndividualAxis__custom--SponsorMember_zTrBws5US532" title="Payments for loan">1,500,000 to the Company to cover certain transaction costs and extension fees. See “Note 5 — Related Party Transactions” for further information. On September 25, 2024, the Company entered into supplementary agreements with its Sponsor, pursuant to which the Sponsor agrees to waive the principal balance of the Notes and related party loan with a total amount of $6,245,961 and $746,270, respectively. (See Note 5) On March 16, 2026, the Company entered into a loan agreement, by and among the Company and Sponsor, pursuant to which the Sponsor agreed to loan an aggregate of $500,000 to the Company, to cover the Company’s certain transaction costs and extension fee. The Loan is non-interest bearing. Pursuant to the Loan Agreement, the Loan shall be payable on the date on which the Company consummates its initial business combination. If the Company underestimates the costs of identifying a target business, undertaking due diligence and negotiating a Business Combination or the actual amount necessary is higher, the Company may have insufficient funds available to operate its business prior to the initial Business Combination. Moreover, the Company may need to obtain additional financing either to complete its Business Combination or because the Company has become obligated to redeem a significant number of its Public Shares upon completion of its Business Combination, in which case the Company may issue additional securities or incur debt in connection with such Business Combination. In addition, the Company has until December 15, 2026 (the “Liquidation Date”) to consummate a business combination. In connection with the Company’s assessment of going concern considerations in accordance with Accounting Standards Codification (“ASC”) 205-40, “Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern,” management has determined that if the Company is unable to complete a Business Combination by the Liquidation Date, then the Company may cease all operations except for the purpose of liquidating. 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Note 2 – Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited consolidated financial statements of the Company are presented in U.S. dollars in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”), specifically Article 8 of Regulation S-X. In the opinion of management, all adjustments (consisting of normal accruals) considered for a fair presentation have been included. These unaudited consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto included in the Annual Report for the year ended December 31, 2025, which are included in the Form 10-K filed on March 20, 2026. Basis of Consolidation The unaudited consolidated financial statements include the accounts of the Company and PubCo, its wholly owned subsidiary newly established on September 4, 2024. All significant intercompany accounts and transactions have been eliminated in consolidation. Emerging Growth Company The Company is an emerging growth company as defined by Section 2(a) of the JOBS Act and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but no limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosures obligations regarding executive compensation in its periodic reports and proxy statements, and exceptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payment not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such an election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised, it has different application dates than public companies. The Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s unaudited consolidated financial statements with those of another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used. Use of Estimates The preparation of these unaudited consolidated financial statements in conformity with GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the unaudited consolidated financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Cash The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company had no cash account and did not have any cash equivalents as of March 31, 2026 and December 31, 2025, respectively. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk consist of a cash account in a financial institution which at times may exceed the Federal Depository Insurance Coverage of $250,000. As of March 31, 2026 and December 31, 2025, the Company does not have a cash account in any financial institutions, respectively. Marketable Securities Held in Trust Account The Company’s investments held in the Trust Account are classified as trading securities. Trading securities are presented on the balance sheets at fair value at the end of each reporting period. Gains and losses resulting from the change in fair value of investments held in Trust Account are included in interest earned and unrealized gain on marketable securities held in Trust Account in the accompanying unaudited consolidated statements of operations. The estimated fair values of investments held in Trust Account are determined using available market information. The Company had $829,887 and $718,072 of marketable securities held in the Trust Account as of March 31, 2026 and December 31, 2025, respectively. During the three months ended March 31, 2026 and 2025, interest earned from the Trust Account amounted to $6,815 and $23,045, of which $4,329 and $21,556 were reinvested in the Trust Account, respectively. $2,486 and $1,489 were recognized as unrealized gain on investments held in the Trust Account during the three months ended March 31, 2026 and 2025, respectively. During the three months ended March 31, 2026 and 2025, the Company paid $nil and $10,819,317 cash out of the Trust Account for the redemption, respectively. Offering Costs Associated with the Initial Public Offering The Company complies with the requirements of ASC 340-10-S99-1 and SEC Staff Accounting Bulletin Topic 5A – “Expenses of Offering”. Offering costs consisted principally of professional and registration fees incurred that were directly related to the IPO. Upon completion of the IPO, offering costs were allocated to the separable financial instruments issued in the IPO based on a relative fair value basis, compared to total proceeds received. Offering costs allocated to the Rights were charged to the shareholders’ equity. Offering costs allocated to the ordinary shares were charged against the carrying value of ordinary shares subject to possible redemption upon the completion of the IPO. Ordinary Shares Subject to Possible Redemption The Company accounts for its ordinary shares subject to possible redemption in accordance with the guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity.” Ordinary shares subject to mandatory redemption are classified as a liability instrument and measured at fair value. Conditionally redeemable ordinary shares (including ordinary shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) are classified as temporary equity. At all other times, ordinary shares are classified as stockholders’ equity. The Company’s ordinary shares feature certain redemption rights that are considered to be outside of the Company’s control and subject to occurrence of uncertain future events. Accordingly, ordinary shares subject to possible redemption are presented at redemption value as temporary equity, outside of the stockholders’ equity section of the Company’s balance sheets. All of the <span id="xdx_909_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20260101__20260331__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zCP7LUMGA2pc" title="Sale of units in initial public offering">11,500,000 ordinary shares sold as part of the Units in the IPO contain a redemption feature which allows for the redemption of such Public Shares in connection with the Company’s liquidation, if there is a stockholder vote or tender offer in connection with the Business Combination and in connection with certain amendments to the Company’s Certificate of Incorporation. Accordingly, all of the 11,500,000 shares of ordinary shares were presented as temporary equity upon closing of the IPO. The Company recognizes changes in redemption value immediately as they occur and adjusts the carrying value of redeemable ordinary shares to equal the redemption value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable ordinary shares are affected by charges against additional paid-in capital and accumulated deficit if additional paid in capital equals to zero. The interest earned by the marketable security held in trust, and the extension fee invested into the marketable security held in trust, were also recognized in redemption value against additional paid-in capital or accumulated deficit immediately. The proceeds on the deposit in the Trust Account, including interest (which interest shall be net of taxes payable, and less up to $50,000 of interest to pay dissolution expenses) will be used to fund the redemption of the public shares. Fair Value of Financial Instruments The fair value of the Company’s assets and liabilities approximates the carrying amounts represented in the accompanying balance sheets, primarily due to the short-term nature. Net Income (Loss) per Share The Company complies with the accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share.” In order to determine the net income (loss) attributable to both the redeemable shares and non-redeemable shares, the Company first considered the undistributed income (loss) allocable to both the redeemable shares and non-redeemable shares and the undistributed income (loss) is calculated using the total net income (loss) less any dividends paid. The Company then allocated the undistributed income (loss) ratably based on the weighted average number of shares outstanding between the redeemable and non-redeemable shares. Any remeasurement of the accretion to redemption value of the ordinary shares subject to possible redemption was considered to be dividends paid to the public stockholders. The calculation of diluted income (loss) per ordinary shares does not consider the effect of the warrants and rights issued in connection with the (i) IPO; (ii) the private placement since the exercise of the warrants and rights are contingent upon the occurrence of future events; and (iii) the effect of the rights to receive 1,690,000 shares. The warrants are exercisable to purchase 5,915,000 ordinary shares in the aggregate. As of March 31, 2026, the Company did not have any dilutive securities or other contracts that could, potentially, be exercised or converted into ordinary shares in the earnings of the Company. As a result, diluted net income (loss) per ordinary shares is the same as basic net income (loss) per ordinary share for the periods presented. The net (loss) income per share presented in the unaudited consolidated statements of operations is based on the following: Schedule of Consolidated Statements of Operations <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 75%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20260101__20260331_zeKgvns7nRV" style="border-bottom: Black 1pt solid; text-align: center">For the Three Months Ended March 31, 2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20250101__20250331_zbUdxEAcV1de" style="border-bottom: Black 1pt solid; text-align: center">For the Three Months Ended March 31, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40A_eus-gaap--NetIncomeLoss_maNILATzhLr_ze14ESktqVyh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Net loss</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(165,798</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(200,767</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40C_ecustom--RemeasurementToRedemptionValueInterestIncomeEarned_iN_di_msNILATzhLr_ztDcm93NfzEb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Remeasurement to redemption value – interest income earned</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6,815</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(23,045</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_ecustom--RemeasurementToRedemptionValueExtensionFee_iN_di_msNILATzhLr_zeThwkAMqPJ9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Remeasurement to redemption value – extension fee</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(105,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(105,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_iT_mtNILATzhLr_zVfP9rRHXtPa" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Net loss including accretion of temporary equity to redemption value</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(277,613</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(328,812</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> Schedule of Net Income (Loss) Per Share <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20260101__20260331__us-gaap--StatementEquityComponentsAxis__custom--NonredeemableSharesMember_zX4lBLfI1Obl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Non-redeemable shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20260101__20260331__us-gaap--StatementEquityComponentsAxis__custom--RedeemableSharesMember_zF4LfqURDgjl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Redeemable shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250101__20250331__us-gaap--StatementEquityComponentsAxis__custom--NonredeemableSharesMember_zPzrdv5SUk0j" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Non-redeemable shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250101__20250331__us-gaap--StatementEquityComponentsAxis__custom--RedeemableSharesMember_z9WX9Xbae7ei" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Redeemable shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Three Months Ended of March 31, 2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Three Months Ended of March 31, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Non-redeemable shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Redeemable shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Non-redeemable shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Redeemable shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Basic and diluted net income (loss) per share:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Numerators:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--AllocationOfNetLosses_zZFP9w02YCah" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Allocation of net losses</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">(275,724</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">(1,889</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">(326,503</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">(2,309</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40B_ecustom--AccretionOfTemporaryEquity_zeE3FS4VkF37" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accretion of temporary equity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">105,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">105,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--AccretionOfTemporaryEquityInterestIncomeEarned_zHVl6LMvcd9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Accretion of temporary equity - interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,815</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">23,045</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--AllocationOfNetIncomeLoss_zTz1mSnMtxYa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Allocation of net income (loss)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(275,724</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">109,926</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(326,503</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">125,736</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Denominators:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Weighted-average shares outstanding</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_90B_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20260101__20260331__us-gaap--StatementEquityComponentsAxis__custom--NonredeemableSharesMember_zXJdRord4qW8" title="Weighted-average shares outstanding - Basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_908_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20260101__20260331__us-gaap--StatementEquityComponentsAxis__custom--NonredeemableSharesMember_zwj3XWq9kNh1" title="Weighted-average shares outstanding - Diluted">3,205,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_907_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20260101__20260331__us-gaap--StatementEquityComponentsAxis__custom--RedeemableSharesMember_zQdDZc2pzxob" title="Weighted-average shares outstanding - Basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_907_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20260101__20260331__us-gaap--StatementEquityComponentsAxis__custom--RedeemableSharesMember_zrEYNSRiKE55" title="Weighted-average shares outstanding - Diluted">21,962</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_90E_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20250101__20250331__us-gaap--StatementEquityComponentsAxis__custom--NonredeemableSharesMember_z3NeJLtqTMQg" title="Weighted-average shares outstanding - Basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_90D_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20250101__20250331__us-gaap--StatementEquityComponentsAxis__custom--NonredeemableSharesMember_z5M5gHHM6DX4" title="Weighted-average shares outstanding - Diluted">3,205,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_902_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20250101__20250331__us-gaap--StatementEquityComponentsAxis__custom--RedeemableSharesMember_zTZdGtm6JGMl" title="Weighted-average shares outstanding - Basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_901_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20250101__20250331__us-gaap--StatementEquityComponentsAxis__custom--RedeemableSharesMember_zk25IVKIbgll" title="Weighted-average shares outstanding - Diluted">22,664</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Basic and diluted net income (loss) per share</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_905_eus-gaap--EarningsPerShareBasic_pid_c20260101__20260331__us-gaap--StatementEquityComponentsAxis__custom--NonredeemableSharesMember_zoEkFnyG0JU3" title="Basic net income (loss) per share"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_906_eus-gaap--EarningsPerShareDiluted_pid_c20260101__20260331__us-gaap--StatementEquityComponentsAxis__custom--NonredeemableSharesMember_zaecuKvDJKGb" title="Diluted net income (loss) per share">(0.09</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_906_eus-gaap--EarningsPerShareBasic_pid_c20260101__20260331__us-gaap--StatementEquityComponentsAxis__custom--RedeemableSharesMember_zUI7kjyrE85f" title="Basic net income (loss) per share"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_900_eus-gaap--EarningsPerShareDiluted_pid_c20260101__20260331__us-gaap--StatementEquityComponentsAxis__custom--RedeemableSharesMember_zVKrHgPjLdbl" title="Diluted net income (loss) per share">5.01</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_901_eus-gaap--EarningsPerShareBasic_pid_c20250101__20250331__us-gaap--StatementEquityComponentsAxis__custom--NonredeemableSharesMember_zC0hVLKLCy05" title="Basic net income (loss) per share"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_905_eus-gaap--EarningsPerShareDiluted_pid_c20250101__20250331__us-gaap--StatementEquityComponentsAxis__custom--NonredeemableSharesMember_zYaTME6MPEJ6" title="Diluted net income (loss) per share">(0.10</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_90E_eus-gaap--EarningsPerShareBasic_pid_c20250101__20250331__us-gaap--StatementEquityComponentsAxis__custom--RedeemableSharesMember_zs084UqFkx2" title="Basic net income (loss) per share"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_907_eus-gaap--EarningsPerShareDiluted_pid_c20250101__20250331__us-gaap--StatementEquityComponentsAxis__custom--RedeemableSharesMember_zBIesHBEwe7a" title="Diluted net income (loss) per share">5.55</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Income Taxes The Company accounts for income taxes under ASC 740 Income Taxes (“ASC 740”). ASC 740 requires the recognition of deferred tax assets and liabilities for both the expected impact of differences between the unaudited consolidated financial statements and tax basis of assets and liabilities and for the expected future tax benefit to be derived from tax loss and tax credit carry forwards. ASC 740 additionally requires a valuation allowance to be established when it is more likely than not that all or a portion of deferred tax assets will not be realized. ASC 740 also clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s unaudited consolidated financial statements and prescribes a recognition threshold and measurement process for unaudited consolidated financial statements recognition and measurement of a tax position taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. ASC 740 also provides guidance on derecognition, classification, interest and penalties, accounting in interim period, disclosure and transition. The Company has identified the Cayman Islands as its only “major” tax jurisdiction, as defined. Any interest payable in respect of U.S. debt obligations (if any) held by the Trust Account is intended to qualify for the portfolio interest exemption or otherwise be exempt from U.S. withholding taxes. Based on the Company’s evaluation, it has been concluded that there are no significant uncertain tax positions requiring recognition in the Company’s unaudited consolidated financial statements. The Company believes that its income tax positions and deductions would be sustained on audit and does not anticipate any adjustments that would result in material changes to its financial position. The Company’s policy for recording interest and penalties associated with audits is to record such items as a component of income tax expense. On August 16, 2022, the U.S. Government enacted legislation commonly referred to as the Inflation Reduction Act. The main provision of the Inflation Reduction Act (the IRA) that we anticipate may impact us is a 1% excise tax on share repurchases. Any redemption or other repurchase that occurs after December 31, 2022, in connection with a Business Combination, extension vote or otherwise, may be subject to the excise tax. Because there is possibility that the Company may acquire a U.S. domestic corporation or engage in a transaction in which a domestic corporation becomes a parent or affiliate to the Company, the Company may become a “covered corporation” as a listed Company in Nasdaq. On July 13, 2023, January 10, 2024, July 12, 2024, December 27, 2024 and December 11, 2025, 2,436,497, 3,319,923, 4,840,581, 880,335, and 702 public shares were rendered for redemption in connection with an extension vote, respectively (see “Note 1 — Description of Organization and Business Operations” for further information). The management team has evaluated the IRA as of March 31, 2026, and does not accrue any excise tax related to the redemption as the Company believes it is not a “covered corporation” under Internal Revenue Code Section 4501. The management team will continue to evaluate its impact. The provision for income taxes was deemed to be immaterial for the three months ended March 31, 2026 and 2025, respectively. Warrants The Company evaluates the Public and Private Warrants as either equity-classified or liability-classified instruments based on an assessment of the warrants’ specific terms and applicable authoritative guidance in FASB ASC 480, Distinguishing Liabilities from Equity (“ASC 480”) and ASC 815, Derivatives and Hedging (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480 that meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own ordinary shares, among other conditions for equity classification. Pursuant to such an evaluation, both Public and Private Warrants are classified as stockholders’ equity. Recently Issued Accounting Standards Management does not believe that any of the recently issued but not yet effective accounting pronouncements, if adopted, would have a material effect on the Company’s unaudited consolidated financial statements.

Basis of Presentation The accompanying unaudited consolidated financial statements of the Company are presented in U.S. dollars in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”), specifically Article 8 of Regulation S-X. In the opinion of management, all adjustments (consisting of normal accruals) considered for a fair presentation have been included. These unaudited consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto included in the Annual Report for the year ended December 31, 2025, which are included in the Form 10-K filed on March 20, 2026.

Basis of Consolidation The unaudited consolidated financial statements include the accounts of the Company and PubCo, its wholly owned subsidiary newly established on September 4, 2024. All significant intercompany accounts and transactions have been eliminated in consolidation.

Emerging Growth Company The Company is an emerging growth company as defined by Section 2(a) of the JOBS Act and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but no limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosures obligations regarding executive compensation in its periodic reports and proxy statements, and exceptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payment not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such an election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised, it has different application dates than public companies. The Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s unaudited consolidated financial statements with those of another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.

Use of Estimates The preparation of these unaudited consolidated financial statements in conformity with GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the unaudited consolidated financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events.

Cash The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company had no cash account and did not have any cash equivalents as of March 31, 2026 and December 31, 2025, respectively.

Concentration of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk consist of a cash account in a financial institution which at times may exceed the Federal Depository Insurance Coverage of $250,000. As of March 31, 2026 and December 31, 2025, the Company does not have a cash account in any financial institutions, respectively.

250000

Marketable Securities Held in Trust Account The Company’s investments held in the Trust Account are classified as trading securities. Trading securities are presented on the balance sheets at fair value at the end of each reporting period. Gains and losses resulting from the change in fair value of investments held in Trust Account are included in interest earned and unrealized gain on marketable securities held in Trust Account in the accompanying unaudited consolidated statements of operations. The estimated fair values of investments held in Trust Account are determined using available market information. The Company had $829,887 and $718,072 of marketable securities held in the Trust Account as of March 31, 2026 and December 31, 2025, respectively. During the three months ended March 31, 2026 and 2025, interest earned from the Trust Account amounted to $6,815 and $23,045, of which $4,329 and $21,556 were reinvested in the Trust Account, respectively. $2,486 and $1,489 were recognized as unrealized gain on investments held in the Trust Account during the three months ended March 31, 2026 and 2025, respectively. During the three months ended March 31, 2026 and 2025, the Company paid $nil and $10,819,317 cash out of the Trust Account for the redemption, respectively.

829887

718072

6815

23045

4329 21556

2486

1489

10819317

Offering Costs Associated with the Initial Public Offering The Company complies with the requirements of ASC 340-10-S99-1 and SEC Staff Accounting Bulletin Topic 5A – “Expenses of Offering”. Offering costs consisted principally of professional and registration fees incurred that were directly related to the IPO. Upon completion of the IPO, offering costs were allocated to the separable financial instruments issued in the IPO based on a relative fair value basis, compared to total proceeds received. Offering costs allocated to the Rights were charged to the shareholders’ equity. Offering costs allocated to the ordinary shares were charged against the carrying value of ordinary shares subject to possible redemption upon the completion of the IPO. Ordinary Shares Subject to Possible Redemption The Company accounts for its ordinary shares subject to possible redemption in accordance with the guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity.” Ordinary shares subject to mandatory redemption are classified as a liability instrument and measured at fair value. Conditionally redeemable ordinary shares (including ordinary shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) are classified as temporary equity. At all other times, ordinary shares are classified as stockholders’ equity. The Company’s ordinary shares feature certain redemption rights that are considered to be outside of the Company’s control and subject to occurrence of uncertain future events. Accordingly, ordinary shares subject to possible redemption are presented at redemption value as temporary equity, outside of the stockholders’ equity section of the Company’s balance sheets. All of the <span id="xdx_909_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20260101__20260331__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zCP7LUMGA2pc" title="Sale of units in initial public offering">11,500,000 ordinary shares sold as part of the Units in the IPO contain a redemption feature which allows for the redemption of such Public Shares in connection with the Company’s liquidation, if there is a stockholder vote or tender offer in connection with the Business Combination and in connection with certain amendments to the Company’s Certificate of Incorporation. Accordingly, all of the 11,500,000 shares of ordinary shares were presented as temporary equity upon closing of the IPO. The Company recognizes changes in redemption value immediately as they occur and adjusts the carrying value of redeemable ordinary shares to equal the redemption value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable ordinary shares are affected by charges against additional paid-in capital and accumulated deficit if additional paid in capital equals to zero. The interest earned by the marketable security held in trust, and the extension fee invested into the marketable security held in trust, were also recognized in redemption value against additional paid-in capital or accumulated deficit immediately. The proceeds on the deposit in the Trust Account, including interest (which interest shall be net of taxes payable, and less up to $50,000 of interest to pay dissolution expenses) will be used to fund the redemption of the public shares.

11500000

50000

Fair Value of Financial Instruments The fair value of the Company’s assets and liabilities approximates the carrying amounts represented in the accompanying balance sheets, primarily due to the short-term nature.

Net Income (Loss) per Share The Company complies with the accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share.” In order to determine the net income (loss) attributable to both the redeemable shares and non-redeemable shares, the Company first considered the undistributed income (loss) allocable to both the redeemable shares and non-redeemable shares and the undistributed income (loss) is calculated using the total net income (loss) less any dividends paid. The Company then allocated the undistributed income (loss) ratably based on the weighted average number of shares outstanding between the redeemable and non-redeemable shares. Any remeasurement of the accretion to redemption value of the ordinary shares subject to possible redemption was considered to be dividends paid to the public stockholders. The calculation of diluted income (loss) per ordinary shares does not consider the effect of the warrants and rights issued in connection with the (i) IPO; (ii) the private placement since the exercise of the warrants and rights are contingent upon the occurrence of future events; and (iii) the effect of the rights to receive 1,690,000 shares. The warrants are exercisable to purchase 5,915,000 ordinary shares in the aggregate. As of March 31, 2026, the Company did not have any dilutive securities or other contracts that could, potentially, be exercised or converted into ordinary shares in the earnings of the Company. As a result, diluted net income (loss) per ordinary shares is the same as basic net income (loss) per ordinary share for the periods presented. The net (loss) income per share presented in the unaudited consolidated statements of operations is based on the following: Schedule of Consolidated Statements of Operations <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 75%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20260101__20260331_zeKgvns7nRV" style="border-bottom: Black 1pt solid; text-align: center">For the Three Months Ended March 31, 2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20250101__20250331_zbUdxEAcV1de" style="border-bottom: Black 1pt solid; text-align: center">For the Three Months Ended March 31, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40A_eus-gaap--NetIncomeLoss_maNILATzhLr_ze14ESktqVyh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Net loss</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(165,798</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(200,767</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40C_ecustom--RemeasurementToRedemptionValueInterestIncomeEarned_iN_di_msNILATzhLr_ztDcm93NfzEb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Remeasurement to redemption value – interest income earned</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6,815</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(23,045</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_ecustom--RemeasurementToRedemptionValueExtensionFee_iN_di_msNILATzhLr_zeThwkAMqPJ9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Remeasurement to redemption value – extension fee</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(105,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(105,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_iT_mtNILATzhLr_zVfP9rRHXtPa" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Net loss including accretion of temporary equity to redemption value</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(277,613</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(328,812</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> Schedule of Net Income (Loss) Per Share <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20260101__20260331__us-gaap--StatementEquityComponentsAxis__custom--NonredeemableSharesMember_zX4lBLfI1Obl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Non-redeemable shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20260101__20260331__us-gaap--StatementEquityComponentsAxis__custom--RedeemableSharesMember_zF4LfqURDgjl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Redeemable shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250101__20250331__us-gaap--StatementEquityComponentsAxis__custom--NonredeemableSharesMember_zPzrdv5SUk0j" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Non-redeemable shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250101__20250331__us-gaap--StatementEquityComponentsAxis__custom--RedeemableSharesMember_z9WX9Xbae7ei" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Redeemable shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Three Months Ended of March 31, 2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Three Months Ended of March 31, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Non-redeemable shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Redeemable shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Non-redeemable shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Redeemable shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Basic and diluted net income (loss) per share:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Numerators:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--AllocationOfNetLosses_zZFP9w02YCah" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Allocation of net losses</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">(275,724</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">(1,889</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">(326,503</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">(2,309</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40B_ecustom--AccretionOfTemporaryEquity_zeE3FS4VkF37" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accretion of temporary equity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">105,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">105,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--AccretionOfTemporaryEquityInterestIncomeEarned_zHVl6LMvcd9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Accretion of temporary equity - interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,815</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">23,045</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--AllocationOfNetIncomeLoss_zTz1mSnMtxYa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Allocation of net income (loss)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(275,724</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">109,926</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(326,503</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">125,736</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Denominators:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Weighted-average shares outstanding</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_90B_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20260101__20260331__us-gaap--StatementEquityComponentsAxis__custom--NonredeemableSharesMember_zXJdRord4qW8" title="Weighted-average shares outstanding - Basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_908_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20260101__20260331__us-gaap--StatementEquityComponentsAxis__custom--NonredeemableSharesMember_zwj3XWq9kNh1" title="Weighted-average shares outstanding - Diluted">3,205,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_907_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20260101__20260331__us-gaap--StatementEquityComponentsAxis__custom--RedeemableSharesMember_zQdDZc2pzxob" title="Weighted-average shares outstanding - Basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_907_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20260101__20260331__us-gaap--StatementEquityComponentsAxis__custom--RedeemableSharesMember_zrEYNSRiKE55" title="Weighted-average shares outstanding - Diluted">21,962</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_90E_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20250101__20250331__us-gaap--StatementEquityComponentsAxis__custom--NonredeemableSharesMember_z3NeJLtqTMQg" title="Weighted-average shares outstanding - Basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_90D_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20250101__20250331__us-gaap--StatementEquityComponentsAxis__custom--NonredeemableSharesMember_z5M5gHHM6DX4" title="Weighted-average shares outstanding - Diluted">3,205,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_902_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20250101__20250331__us-gaap--StatementEquityComponentsAxis__custom--RedeemableSharesMember_zTZdGtm6JGMl" title="Weighted-average shares outstanding - Basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_901_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20250101__20250331__us-gaap--StatementEquityComponentsAxis__custom--RedeemableSharesMember_zk25IVKIbgll" title="Weighted-average shares outstanding - Diluted">22,664</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Basic and diluted net income (loss) per share</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_905_eus-gaap--EarningsPerShareBasic_pid_c20260101__20260331__us-gaap--StatementEquityComponentsAxis__custom--NonredeemableSharesMember_zoEkFnyG0JU3" title="Basic net income (loss) per share"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_906_eus-gaap--EarningsPerShareDiluted_pid_c20260101__20260331__us-gaap--StatementEquityComponentsAxis__custom--NonredeemableSharesMember_zaecuKvDJKGb" title="Diluted net income (loss) per share">(0.09</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_906_eus-gaap--EarningsPerShareBasic_pid_c20260101__20260331__us-gaap--StatementEquityComponentsAxis__custom--RedeemableSharesMember_zUI7kjyrE85f" title="Basic net income (loss) per share"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_900_eus-gaap--EarningsPerShareDiluted_pid_c20260101__20260331__us-gaap--StatementEquityComponentsAxis__custom--RedeemableSharesMember_zVKrHgPjLdbl" title="Diluted net income (loss) per share">5.01</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_901_eus-gaap--EarningsPerShareBasic_pid_c20250101__20250331__us-gaap--StatementEquityComponentsAxis__custom--NonredeemableSharesMember_zC0hVLKLCy05" title="Basic net income (loss) per share"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_905_eus-gaap--EarningsPerShareDiluted_pid_c20250101__20250331__us-gaap--StatementEquityComponentsAxis__custom--NonredeemableSharesMember_zYaTME6MPEJ6" title="Diluted net income (loss) per share">(0.10</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_90E_eus-gaap--EarningsPerShareBasic_pid_c20250101__20250331__us-gaap--StatementEquityComponentsAxis__custom--RedeemableSharesMember_zs084UqFkx2" title="Basic net income (loss) per share"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_907_eus-gaap--EarningsPerShareDiluted_pid_c20250101__20250331__us-gaap--StatementEquityComponentsAxis__custom--RedeemableSharesMember_zBIesHBEwe7a" title="Diluted net income (loss) per share">5.55</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1690000 5915000 The net (loss) income per share presented in the unaudited consolidated statements of operations is based on the following: Schedule of Consolidated Statements of Operations <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 75%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20260101__20260331_zeKgvns7nRV" style="border-bottom: Black 1pt solid; text-align: center">For the Three Months Ended March 31, 2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20250101__20250331_zbUdxEAcV1de" style="border-bottom: Black 1pt solid; text-align: center">For the Three Months Ended March 31, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40A_eus-gaap--NetIncomeLoss_maNILATzhLr_ze14ESktqVyh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Net loss</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(165,798</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(200,767</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40C_ecustom--RemeasurementToRedemptionValueInterestIncomeEarned_iN_di_msNILATzhLr_ztDcm93NfzEb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Remeasurement to redemption value – interest income earned</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6,815</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(23,045</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_ecustom--RemeasurementToRedemptionValueExtensionFee_iN_di_msNILATzhLr_zeThwkAMqPJ9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Remeasurement to redemption value – extension fee</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(105,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(105,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_iT_mtNILATzhLr_zVfP9rRHXtPa" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Net loss including accretion of temporary equity to redemption value</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(277,613</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(328,812</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

-165798

-200767

6815 23045 105000 105000

-277613

-328812

Schedule of Net Income (Loss) Per Share <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20260101__20260331__us-gaap--StatementEquityComponentsAxis__custom--NonredeemableSharesMember_zX4lBLfI1Obl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Non-redeemable shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20260101__20260331__us-gaap--StatementEquityComponentsAxis__custom--RedeemableSharesMember_zF4LfqURDgjl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Redeemable shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250101__20250331__us-gaap--StatementEquityComponentsAxis__custom--NonredeemableSharesMember_zPzrdv5SUk0j" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Non-redeemable shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250101__20250331__us-gaap--StatementEquityComponentsAxis__custom--RedeemableSharesMember_z9WX9Xbae7ei" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Redeemable shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Three Months Ended of March 31, 2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Three Months Ended of March 31, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Non-redeemable shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Redeemable shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Non-redeemable shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Redeemable shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Basic and diluted net income (loss) per share:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Numerators:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--AllocationOfNetLosses_zZFP9w02YCah" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Allocation of net losses</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">(275,724</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">(1,889</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">(326,503</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">(2,309</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40B_ecustom--AccretionOfTemporaryEquity_zeE3FS4VkF37" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accretion of temporary equity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">105,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">105,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--AccretionOfTemporaryEquityInterestIncomeEarned_zHVl6LMvcd9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Accretion of temporary equity - interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,815</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">23,045</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--AllocationOfNetIncomeLoss_zTz1mSnMtxYa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Allocation of net income (loss)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(275,724</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">109,926</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(326,503</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">125,736</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Denominators:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Weighted-average shares outstanding</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_90B_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20260101__20260331__us-gaap--StatementEquityComponentsAxis__custom--NonredeemableSharesMember_zXJdRord4qW8" title="Weighted-average shares outstanding - Basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_908_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20260101__20260331__us-gaap--StatementEquityComponentsAxis__custom--NonredeemableSharesMember_zwj3XWq9kNh1" title="Weighted-average shares outstanding - Diluted">3,205,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_907_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20260101__20260331__us-gaap--StatementEquityComponentsAxis__custom--RedeemableSharesMember_zQdDZc2pzxob" title="Weighted-average shares outstanding - Basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_907_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20260101__20260331__us-gaap--StatementEquityComponentsAxis__custom--RedeemableSharesMember_zrEYNSRiKE55" title="Weighted-average shares outstanding - Diluted">21,962</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_90E_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20250101__20250331__us-gaap--StatementEquityComponentsAxis__custom--NonredeemableSharesMember_z3NeJLtqTMQg" title="Weighted-average shares outstanding - Basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_90D_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20250101__20250331__us-gaap--StatementEquityComponentsAxis__custom--NonredeemableSharesMember_z5M5gHHM6DX4" title="Weighted-average shares outstanding - Diluted">3,205,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_902_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20250101__20250331__us-gaap--StatementEquityComponentsAxis__custom--RedeemableSharesMember_zTZdGtm6JGMl" title="Weighted-average shares outstanding - Basic"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_901_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20250101__20250331__us-gaap--StatementEquityComponentsAxis__custom--RedeemableSharesMember_zk25IVKIbgll" title="Weighted-average shares outstanding - Diluted">22,664</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Basic and diluted net income (loss) per share</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_905_eus-gaap--EarningsPerShareBasic_pid_c20260101__20260331__us-gaap--StatementEquityComponentsAxis__custom--NonredeemableSharesMember_zoEkFnyG0JU3" title="Basic net income (loss) per share"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_906_eus-gaap--EarningsPerShareDiluted_pid_c20260101__20260331__us-gaap--StatementEquityComponentsAxis__custom--NonredeemableSharesMember_zaecuKvDJKGb" title="Diluted net income (loss) per share">(0.09</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_906_eus-gaap--EarningsPerShareBasic_pid_c20260101__20260331__us-gaap--StatementEquityComponentsAxis__custom--RedeemableSharesMember_zUI7kjyrE85f" title="Basic net income (loss) per share"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_900_eus-gaap--EarningsPerShareDiluted_pid_c20260101__20260331__us-gaap--StatementEquityComponentsAxis__custom--RedeemableSharesMember_zVKrHgPjLdbl" title="Diluted net income (loss) per share">5.01</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_901_eus-gaap--EarningsPerShareBasic_pid_c20250101__20250331__us-gaap--StatementEquityComponentsAxis__custom--NonredeemableSharesMember_zC0hVLKLCy05" title="Basic net income (loss) per share"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_905_eus-gaap--EarningsPerShareDiluted_pid_c20250101__20250331__us-gaap--StatementEquityComponentsAxis__custom--NonredeemableSharesMember_zYaTME6MPEJ6" title="Diluted net income (loss) per share">(0.10</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_90E_eus-gaap--EarningsPerShareBasic_pid_c20250101__20250331__us-gaap--StatementEquityComponentsAxis__custom--RedeemableSharesMember_zs084UqFkx2" title="Basic net income (loss) per share"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIFBlciBTaGFyZSAoRGV0YWlscykA" id="xdx_907_eus-gaap--EarningsPerShareDiluted_pid_c20250101__20250331__us-gaap--StatementEquityComponentsAxis__custom--RedeemableSharesMember_zBIesHBEwe7a" title="Diluted net income (loss) per share">5.55</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

-275724 -1889 -326503 -2309 105000 105000 6815 23045 -275724 109926 -326503 125736

3205000

21962

3205000

22664

-0.09

5.01

-0.10

5.55

Income Taxes The Company accounts for income taxes under ASC 740 Income Taxes (“ASC 740”). ASC 740 requires the recognition of deferred tax assets and liabilities for both the expected impact of differences between the unaudited consolidated financial statements and tax basis of assets and liabilities and for the expected future tax benefit to be derived from tax loss and tax credit carry forwards. ASC 740 additionally requires a valuation allowance to be established when it is more likely than not that all or a portion of deferred tax assets will not be realized. ASC 740 also clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s unaudited consolidated financial statements and prescribes a recognition threshold and measurement process for unaudited consolidated financial statements recognition and measurement of a tax position taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. ASC 740 also provides guidance on derecognition, classification, interest and penalties, accounting in interim period, disclosure and transition. The Company has identified the Cayman Islands as its only “major” tax jurisdiction, as defined. Any interest payable in respect of U.S. debt obligations (if any) held by the Trust Account is intended to qualify for the portfolio interest exemption or otherwise be exempt from U.S. withholding taxes. Based on the Company’s evaluation, it has been concluded that there are no significant uncertain tax positions requiring recognition in the Company’s unaudited consolidated financial statements. The Company believes that its income tax positions and deductions would be sustained on audit and does not anticipate any adjustments that would result in material changes to its financial position. The Company’s policy for recording interest and penalties associated with audits is to record such items as a component of income tax expense. On August 16, 2022, the U.S. Government enacted legislation commonly referred to as the Inflation Reduction Act. The main provision of the Inflation Reduction Act (the IRA) that we anticipate may impact us is a 1% excise tax on share repurchases. Any redemption or other repurchase that occurs after December 31, 2022, in connection with a Business Combination, extension vote or otherwise, may be subject to the excise tax. Because there is possibility that the Company may acquire a U.S. domestic corporation or engage in a transaction in which a domestic corporation becomes a parent or affiliate to the Company, the Company may become a “covered corporation” as a listed Company in Nasdaq. On July 13, 2023, January 10, 2024, July 12, 2024, December 27, 2024 and December 11, 2025, 2,436,497, 3,319,923, 4,840,581, 880,335, and 702 public shares were rendered for redemption in connection with an extension vote, respectively (see “Note 1 — Description of Organization and Business Operations” for further information). The management team has evaluated the IRA as of March 31, 2026, and does not accrue any excise tax related to the redemption as the Company believes it is not a “covered corporation” under Internal Revenue Code Section 4501. The management team will continue to evaluate its impact. The provision for income taxes was deemed to be immaterial for the three months ended March 31, 2026 and 2025, respectively.

2436497 3319923 4840581 880335 702 Warrants The Company evaluates the Public and Private Warrants as either equity-classified or liability-classified instruments based on an assessment of the warrants’ specific terms and applicable authoritative guidance in FASB ASC 480, Distinguishing Liabilities from Equity (“ASC 480”) and ASC 815, Derivatives and Hedging (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480 that meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own ordinary shares, among other conditions for equity classification. Pursuant to such an evaluation, both Public and Private Warrants are classified as stockholders’ equity.

Recently Issued Accounting Standards Management does not believe that any of the recently issued but not yet effective accounting pronouncements, if adopted, would have a material effect on the Company’s unaudited consolidated financial statements.

Note 3 – Initial Public Offering On December 15, 2021, the Company consummated the IPO and sale of <span id="xdx_908_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20211215__20211215__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zNwcnMZhyfcd" title="Sale of units in initial public offering">11,500,000 units (including the issuance of <span id="xdx_905_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20211215__20211215__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwritersMember_zpSQNINsTiCg" title="Sale of units in initial public offering">1,500,000 units as a result of the underwriters’ full exercise of the over-allotment) at a price of $10.00 per Unit, generating gross proceeds of $<span id="xdx_90D_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pp0p0_c20211215__20211215__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_z9C4nEXXbqOj" title="Sale of units in initial public offering aggregate amount">115,000,000. Each Unit consists of one ordinary share, one redeemable warrant (each a “Warrant”, and, collectively, the “Warrants”), and one right to receive one-seventh (1/7) of an ordinary share upon the consummation of a Business Combination. Each two redeemable warrants entitle the holder thereof to purchase one ordinary share, and each seven rights entitle the holder thereof to receive one ordinary share at the closing of a Business Combination. No fractional shares were issued upon separation of the Units, and only whole Warrants will trade.

11500000

1500000

10.00

115000000

Note 4 – Private Placement Concurrently with the consummation of the IPO, A-Star Management Corporation, the Sponsor, purchased an aggregate of <span id="xdx_90F_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20211215__20211215__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zleiaHnqYDl9" title="Sale of units in initial public offering">330,000 units at a price of $10.00 per Private Unit for an aggregate purchase price of $<span id="xdx_904_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pp0p0_c20211215__20211215__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zVmVubwetTs3" title="Sale of stock, consideration aggregate amount">3,300,000 in a private placement. The Private Units are identical to the public Units except with respect to certain registration rights and transfer restrictions. The proceeds from the Private Units were added to the proceeds from the IPO to be held in the Trust Account. If the Company does not complete a Business Combination within the Combination Period, the proceeds from the sale of the Private Units will be used to fund the redemption of the Public Shares (subject to the requirements of applicable law), and the Private Units and all underlying securities will expire worthless.

330000

10.00

3300000

Note 5 – Related Party Transactions Founder Shares On April 6, 2021, the Sponsor purchased <span id="xdx_90D_eus-gaap--StockRepurchasedDuringPeriodShares_c20210406__20210406__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_zgugXAt2o5A7" title="Number of shares forfeited">2,875,000 ordinary shares for an aggregate price of $<span id="xdx_904_eus-gaap--StockRepurchasedAndRetiredDuringPeriodValue_pp0p0_c20210406__20210406__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_zEMEL103MPJ8" title="Value of shares forfeited">25,000. The 2,875,000 founder shares (the “Founder Shares”) included an aggregate of up to <span id="xdx_906_eus-gaap--StockRepurchasedAndRetiredDuringPeriodShares_c20210406__20210406__us-gaap--RelatedPartyTransactionAxis__custom--FounderMember_zqqE6WKDIww1" title="Stock repurchased and retired during period, shares">375,000 shares subject to forfeiture by the Sponsor to the extent that the underwriters’ over-allotment was not exercised in full or in part, so that the Sponsor will collectively own 20% of the Company’s issued and outstanding shares after the Proposed Offering. On December 15, 2021, the underwriters exercised the over-allotment option in full. Accordingly, no Founder Shares remained subject to forfeiture thereafter. The Sponsor and each Insider agree that it, he or she shall not (a) transfer 50% of their Founder Shares until the earlier of (A) six months after the consummation of the Company’s initial Business Combination or (B) the date on which the closing price of the Ordinary Shares equals or exceeds $12.50 per share (as adjusted for share splits, share capitalizations, rights issuances, subdivisions, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing after the Company’s initial Business Combination or (b) transfer the remaining 50% of their Founder Shares until six months after the date of the consummation of the Company’s initial Business Combination, or earlier in either case, if subsequent to the Company’s initial Business Combination the Company completes a liquidation, merger, share exchange, reorganization or other similar transaction that results in all of the Company’s stockholders having the right to exchange their Ordinary Shares for cash, securities or other property (the “Founder Shares Lock-up Period”). Administrative Services Agreement The Company entered into an administrative services agreement, commencing on December 13, 2021, through the earlier of the Company’s consummation of a Business Combination or its liquidation, to pay to the Sponsor a total of $10,000 per month for office space, secretarial and administrative services provided to members of the Company’s management team. For each of the three months ended March 31, 2026 and 2025, the Company incurred $30,000 in fees for these services, respectively. As of March 31, 2026 and December 31, 2025, the balance of administrative service fees was $471,129 and $441,129, respectively, which remained unpaid and included in accrued expenses and other liabilities. Promissory Note and Loan Payable to Sponsor Promissory Note — Sponsor The Company had issued the following promissory notes (collectively, the “Notes”): On September 13, 2022, December 13, 2022. March 13, 2023, and September 20, 2023, the Company issued four promissory notes in the principal amount of up to $<span id="xdx_90B_eus-gaap--DebtInstrumentFaceAmount_iI_c20220913__us-gaap--DebtInstrumentAxis__custom--FirstNoteMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_zwuplsCL75Hc" title="Debt instrument, face amount">1,000,000, $<span id="xdx_907_eus-gaap--DebtInstrumentFaceAmount_iI_c20221213__us-gaap--DebtInstrumentAxis__custom--SecondNoteMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_zoLVBXFt1rxj" title="Debt instrument, face amount">1,300,000, $<span id="xdx_906_eus-gaap--DebtInstrumentFaceAmount_iI_c20230313__us-gaap--DebtInstrumentAxis__custom--ThirdNoteMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_zPkGx06cRJ63" title="Debt instrument, face amount">2,500,000, and $<span id="xdx_903_eus-gaap--DebtInstrumentFaceAmount_iI_c20230920__us-gaap--DebtInstrumentAxis__custom--FourthNoteMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_zXvP4WxFY2t5" title="Debt instrument, face amount">2,500,000, respectively, to the Sponsor, pursuant to which the Sponsor shall loan to the Company up to the related amount to pay the extension fee and transaction cost. The Notes are repayable in full upon the date of the consummation of the Company’s initial business combination pursuant to the Notes and related amendments. The Notes have no conversion feature, no collateral and bear no interest. On September 25, 2024, the Company entered into an agreement with its Sponsor, pursuant to which the Sponsor agrees to waive the principal balance of the Notes with a total amount of $6,245,961. Loan Agreement with Sponsor On August 26, 2024, the Company entered into a Loan Agreement with the Sponsor, pursuant to which the Sponsor shall loan to the Company up to $<span id="xdx_90C_eus-gaap--DebtInstrumentFeeAmount_iI_c20240826__us-gaap--TypeOfArrangementAxis__custom--LoanAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_zjlLzTrDB8xc" title="Debt instrument, face amount">1,500,000 to pay the extension fee and transaction cost. The loan bears <span id="xdx_901_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_do_c20240826__us-gaap--TypeOfArrangementAxis__custom--LoanAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_zbAOvW614Fte">no interest and are repayable in full upon the date of the consummation of the Company’s initial business combination. The drawdown of the loan includes a balance of $<span id="xdx_90E_eus-gaap--IncreaseDecreaseInDueToRelatedParties_c20250101__20251231__us-gaap--TypeOfArrangementAxis__custom--LoanAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SponsorMember_zY3WtZsQ1Frh" title="Due to sponsor">738,769 due to the Sponsor for operating expenses paid by the Sponsor on behalf of the Company prior to the Loan Agreement. On September 25, 2024, the Company entered into an agreement with its Sponsor, pursuant to which the Sponsor agrees to waive the principal balance of the loan with a total amount of $746,270. On March 16, 2026, the Company entered into a loan agreement, by and among the Company and Sponsor, pursuant to which the Sponsor agreed to loan an aggregate of $500,000 to the Company, to cover the Company’s certain transaction costs and extension fee (the “2026 Loan”). The 2026 Loan will not accrue any interest. Pursuant to the Loan Agreement, the Loan shall be payable on the date on which the Company consummates its initial business combination. The principal balance may be prepaid at any time. Balance of Promissory Note and Loan Payable to Sponsor The waiver of the Sponsor liabilities was accounted as a debt extinguishment in accordance with ASC470-50-40-2, and the waived balance of $6,992,231 is recognized in additional paid-in capital, as the extinguishment transactions between related parties were deemed to be capital transactions. After the waiver and inclusively for the Promissory Note and Loan Agreement, as of March 31, 2026 and December 31, 2025, the balance of promissory notes and loans payable to Sponsor was $1,880,216 and $1,431,298, respectively. During the three months ended March 31, 2026, the Company drew down $<span id="xdx_906_eus-gaap--ProceedsFromPaymentsForLongTermLoansForRelatedParties_pp0p0_c20260101__20260331__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteMember_ztT9832R3Cya" title="Payment to sponsor">105,000 from the Notes to pay the extension contribution of $35,000 each month for December 2025, and January to February 2026. The full amounts were deposited into the Trust Account immediately. During the three months ended, March 31, 2026, in addition to the monthly administrative service fee charged by the Sponsor which is recorded under the “Accrued expenses and other liability”, the Sponsor paid a total of $343,917 operating expenses on behalf of the Company, which was recorded as a drawdown of the Sponsor loan. As of March 31, 2026 and December 31, 2025, the remaining balance available under the Promissory Notes and Loan Agreements was $<span id="xdx_90E_ecustom--PromissoryNoteRemainingBalance_iI_pp0p0_c20260331__us-gaap--TypeOfArrangementAxis__custom--PromissoryNoteAndLoanAgreementMember_za0XYldvnc7i" title="Promissory note remaining balance">427,554 and $<span id="xdx_907_ecustom--PromissoryNoteRemainingBalance_iI_pp0p0_c20251231__us-gaap--TypeOfArrangementAxis__custom--PromissoryNoteAndLoanAgreementMember_z9ZO2VMiYMJh" title="Promissory note remaining balance">376,471, respectively.

2875000

25000

2875000

375000

12.50

10000

30000

471129

441129

1000000

1300000

2500000

6245961

1500000

738769

746270

500000

6992231

1880216 1431298

105000

35000

-343917

427554 376471

Note 6 – Commitments and Contingencies Risks and Uncertainties Global geopolitical and economic conditions, including the ongoing Russia-Ukraine conflict, tensions in the Middle East, including recent military actions involving the United States and Iran, and related sanctions, trade restrictions, and disruptions in global energy, supply chain, and financial markets, continue to create significant uncertainty and market volatility. In addition, changes in U.S. trade and tariff policies, including tariffs imposed on imports from certain countries, particularly China, and recent legal challenges and Supreme court rulings regarding the executive branch’s tariff authority, have increased uncertainty in international trade and capital markets. These developments, together with retaliatory measures imposed by other countries, may adversely affect global economic conditions, liquidity, commodity prices, inflation, cybersecurity risks, and overall market stability. Any of the above mentioned factors, or any other negative impact on the global economy, capital markets or other geopolitical conditions could adversely affect the Company’s search for an initial Business Combination and any target business with which the Company may ultimately consummate an initial Business Combination. Underwriters Agreement The Company granted the underwriters a 45-day option to purchase up to <span id="xdx_90B_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20211215__20211215__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwritersMember_zfOfww2hEuxk" title="Sale of units in initial public offering">1,500,000 Units (over and above the <span id="xdx_90B_eus-gaap--SharesHeldInEmployeeStockOptionPlanAllocated_iI_c20211215__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwritersMember_zOQCatxW5Gw" title="Sale of units">10,000,000 units referred to above) solely to cover over-allotments at $<span id="xdx_90E_eus-gaap--SharePrice_iI_pid_c20211215__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwritersMember_zxzo8EjqykM9" title="Share price">10.00 per Unit. On December 15, 2021, the underwriters exercised the over-allotment option in full to purchase <span id="xdx_90B_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20211215__20211215__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwritersMember_zRex7v9SUQGg" title="Sale of units in initial public offering">1,500,000 Units at a purchase price of $<span id="xdx_902_eus-gaap--SharePrice_iI_pid_c20211215__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UnderwritersMember_zZgBtMvXCar5" title="Share price">10.00 per Unit. On December 15, 2021, the Company paid a cash underwriting commission of <span id="xdx_908_ecustom--PercentageOfCashUnderwritingCommission_pid_dp_uPure_c20211215__20211215__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_z851BWN02RBa" title="Percentage of cash underwritng commission">2.0% of the gross proceeds of the IPO, or $<span id="xdx_90D_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_c20211215__20211215__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_znMofBoPiV7" title="Gross proceeds from Initial Public Offering">2,300,000. The underwriters are entitled to a deferred underwriting commission of <span id="xdx_90F_ecustom--PercentageOfDeferredUnderwritingCommission_pid_dp_uPure_c20260101__20260331__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zvdP5dRgNgG" title="Percentage of deferred underwriting commission">2.5% of the gross proceeds of the IPO, or $<span id="xdx_900_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_pp0p0_c20260101__20260331__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zj3QvtSotmul" title="Gross proceeds from Initial Public Offering">2,875,000, which will be paid from the funds held in the Trust Account upon completion of the Company’s initial Business Combination subject to the terms of the underwriting agreement. The Company has deferred underwriting commissions of $950,000 and $950,000 as of March 31, 2026, and December 31, 2025, respectively. The waived amount of $1,925,500 was recorded as a reduction of deferred underwriting commissions and reflected as an increase to additional paid-in capital, consistent with the SEC’s guidance in SAB Topic 5A. As the Deferred Underwriting Commission is directly associated with the Company’s equity offering, no gain was recognized in the consolidated statements of operations. The Company also considered the guidance in ASC 405-20-40 related to the derecognition of liabilities and concluded that the reduction in the Deferred Underwriting Commission does not represent a gain on extinguishment, as the original obligation was recorded as an equity issuance cost rather than through earnings. Registration Rights The holders of the Founder Shares will be entitled to registration rights pursuant to a registration rights agreement to be signed prior to or on the effective date of the IPO. The holders of these securities are entitled to make up to three demands, excluding short form demands, that the Company register such securities. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements filed subsequent to the consummation of a Business Combination and rights to require the Company to register for resale such securities pursuant to Rule 415 under the Securities Act. The Company will bear the expenses incurred in connection with the filing of any such registration statements. Contingencies and Dismissal of the Then-Legal Counsel The Company may from time to time be subject to various legal or administrative claims and proceedings arising in the ordinary course of business. As of March 31, 2026 and December 31, 2025, there were no legal or administrative proceedings for which a loss was probable and expected to be material to the unaudited consolidated financial statements. On February 5, 2024, the management and the Sponsor determined to dismiss the Company’s then-legal counsel and also terminated its services of maintaining and managing the escrow account. The former legal counsel alleged that there was an approximate $200,000 balance due with the Sponsor and disputed legal fee due from the Company. On May 23, 2024, the Sponsor and the Company entered into an indemnity agreement that contractually indemnifies, holds harmless, and exonerates the Company from any potential litigation or related proceedings arising from the service termination with the former legal counsel. The Company does not believe that either the above Sponsor Balance due to the former legal counsel or the disputed legal fee would have a material impact on the Company’s unaudited consolidated financial statements.

1500000

10000000

10.00

1500000

10.00

0.020

2300000

0.025

2875000

950000 950000 1925500

200000

Note 7 – Stockholders’ Deficit Ordinary Shares The Company is authorized to issue 50,000,000 ordinary shares, with a par value of $0.001 per share. Holders of the ordinary shares are entitled to one vote for each ordinary share. As of March 31, 2026 and December 31, 2025, there were 3,205,000 ordinary shares issued and outstanding, excluding 21,962 and 22,664 shares subject to possible redemption, respectively. Public Warrants Pursuant to the IPO, the Company sold 11,500,000 Units at a price of $10.00 per Unit for a total of $<span id="xdx_906_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pp0p0_c20211215__20211215__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_zUzXhPokWJE8" title="Proceeds from sale of stock">115,000,000. The total amount of ordinary shares subject to possible redemption is <span id="xdx_90B_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20211215__20211215__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_zUj3lug1fOna" title="Sale of units in initial public offering">11,500,000. Each Unit consists of one ordinary share, one right to acquire one-seventh (1/7) of an ordinary share, and one redeemable warrant (“Public Warrant”) to purchase one-half of one ordinary share at a price of $11.50 per share, subject to adjustment. As of March 31, 2026 and December 31, 2025, the Company had 11,500,000 public warrants outstanding, respectively, which are exercisable to purchase <span id="xdx_901_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_c20251231__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_zquVTl0PI3Eb" title="Warrants outstanding">5,750,000 ordinary shares. Each warrant entitles the holder to purchase one-half ordinary share at a price of $11.50 per share commencing 30 days after the completion of its initial business combination and expiring five years from after the completion of an initial business combination. No fractional warrant will be issued and only whole warrants will trade. The Company may redeem the warrants at a price of $<span id="xdx_902_ecustom--ClassOfWarrantsOrRightsRedemptionPricePerShare_iI_pid_c20211215__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_zIROGXirmJDi" title="Class of warrants or rights redemption price per share">0.01 per warrant upon 30 days’ notice, only in the event that the last sale price of the ordinary shares is at least $18.00 per share for any <span id="xdx_908_ecustom--NumberOfConsecutiveTradingDaysForDeterminingVolumeWeightedAveragePriceOfShare_dtD_c20211215__20211215__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_zRm0el6FUZZi" title="Number of consecutive trading days for determining the volume weighted average price of share">20 trading days within a 30-trading day period ending on the third day prior to the date on which notice of redemption is given, provided there is an effective registration statement and current prospectus in effect with respect to the ordinary shares underlying such warrants during the 30-day redemption period. If a registration statement is not effective within <span id="xdx_90F_ecustom--ClassOfWarrantsOrRightsPeriodWithinWhichTheRegistrationShallBeEffectiveFromTheConsummationOfBusinessCombination_dtD_c20211215__20211215__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_zYHRCleHQkZ3" title="Class of warrants or rights period within the registration shall be effective from the consummation of business combination">60 days following the consummation of a business combination, warrant holders may, until such time as there is an effective registration statement and during any period when the Company shall have failed to maintain an effective registration statement, exercise warrants on a cashless basis pursuant to an available exemption from registration under the Securities Act. In addition, if (a) the Company issues additional ordinary shares or equity-linked securities for capital raising purposes in connection with the closing of the initial Business Combination at an issue price or effective issue price of less than $<span id="xdx_903_ecustom--VolumeWeightedAveragePricePerShare_c20211215__20211215__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_z44M3fbvUSbb" title="Volume weighted average price per share">9.20 per share (with such issue price or effective issue price to be determined in good faith by our board of directors); (b) the aggregate gross proceeds from such issuances represent more than <span id="xdx_906_ecustom--PercentageOfFundsRaisedToBeUsedForConsummatingBusinessCombination_dp_uPure_c20211215__20211215__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_zi3TFqTrGBaf" title="Percentage of funds raised to be used for consummating business combination">60% of the total equity proceeds, and interest thereon, available for the funding of our initial business combination; and (c) the volume weighted average trading price of the ordinary shares during the 20 trading day period starting on the trading day prior to the day on which the Company consummates the initial Business Combination (such price, the “Market Value”) is below $<span id="xdx_905_ecustom--VolumeWeightedAveragePricePerShare_pid_c20211215__20211215__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_z6aCaQZG9il" title="Volume weighted average price per share">9.20 per share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to <span id="xdx_908_ecustom--ClassOfWarrantsOrRightsExercisePricePercentage_iI_pid_dp_uPure_c20211215__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_z8APRRx2DC1j" title="Class of warrants or rights exercise price percentage">115% of the Market Value, and the last sales price of the ordinary shares that triggers the Company’s right to redeem the Warrants will be adjusted (to the nearest cent) to be equal to <span id="xdx_900_ecustom--ClassOfWarrantsOrRightsExercisePriceOfMarketValuePercentage_iI_pid_dp_uPure_c20211215__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_zmjkSCvfRCL7" title="Warrants exercise price market value">180% of the Market Value. Private warrants The private warrants have terms and provisions that are identical to those of the warrants being sold as part of the units in this offering. As of March 31, 2026 and December 31, 2025, the Company had 330,000 private warrants outstanding, respectively, which are exercisable to purchase <span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_c20260331__us-gaap--ClassOfWarrantOrRightAxis__custom--PrivateWarrantsMember_zf9dhxIbNDEj" title="Warrants outstanding exercisable">165,000 ordinary shares. Rights Except in cases where the Company is not the surviving Company in a business combination, the holders of the rights will automatically receive 1/7 of a share of ordinary shares, or in aggregate receive 1,690,000 ordinary shares, upon consummation of the Company’s initial business combination. In the event the Company will not be the surviving company upon completion of the initial business combination, each holder of a right will be required to affirmatively convert his, her or its rights in order to receive the 1/7 of a share underlying each right upon consummation of the business combination. As of March 31, 2026 and December 31, 2025, no rights had been converted into shares.

50000000

0.001

3205000

21962

22664

11500000

10.00

115000000

11500000

11.50

11500000

5750000

11.50

0.01

18.00

P20D P60D 9.20 0.60 9.20 1.15 1.80

330000

165000

1690000

Note 8 – Fair Value Measurements The Company complies with ASC 820, “Fair Value Measurements”, for its financial assets and liabilities that are re-measured and reported at fair value for each reporting period, and non-financial assets and liabilities that are re-measured and reported at fair value at least annually. ASC 820 determines fair value to be the price that would be received to sell an asset or would be paid to transfer a liability (i.e., the exit price) in an orderly transaction between market participants at the measurement date. The following fair value hierarchy is used to classify assets and liabilities based on the observable inputs and unobservable inputs used in order to value the assets and liabilities: Level 1: Quoted prices in active markets for identical assets or liabilities. An active market for an asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2: Observable inputs other than Level inputs. Examples of Level 2 inputs include quoted prices in active markets for similar assets or liabilities and quoted prices for identical assets or liabilities in markets that are not active. Level 3: Unobservable inputs based on our assessment of the assumptions that market participants would use in pricing the asset or liability. As of March 31, 2026 and December 31, 2025, assets held in the Trust Account were entirely comprised of marketable securities. The following table presents information about the Company’s assets that are measured at fair value on a recurring basis as of March 31, 2026 and December 31, 2025 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value. Schedule of Fair value Hierarchy of Valuation Inputs <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">As of March 31, 2026</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Quoted Prices in Active Markets (Level 1)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Significant Other Observable Inputs (Level 2)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Significant Other Unobservable Inputs (Level 3)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Marketable Securities held in Trust Account</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--MarketableSecurities_iI_pp0p0_c20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zaYLh7BUSis9" style="width: 12%; text-align: right" title="Marketable Securities held in Trust Account">829,887</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--MarketableSecurities_iI_pp0p0_c20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z2kM5EhnjUB1" style="width: 12%; text-align: right" title="Marketable securities held in trust account">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--MarketableSecurities_iI_pp0p0_c20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zIeUoRG8Rvtb" style="width: 12%; text-align: right" title="Marketable securities held in trust account">-</td><td style="width: 1%; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">As of December 31, 2025</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Quoted Prices in Active Markets (Level 1)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Significant Other Observable Inputs (Level 2)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Significant Other Unobservable Inputs (Level 3)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Marketable Securities held in Trust Account</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--MarketableSecurities_iI_pp0p0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zxUuReThXMl2" style="width: 12%; text-align: right" title="Marketable Securities held in Trust Account">718,072</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--MarketableSecurities_iI_pp0p0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zwdFpOO1DbEb" style="width: 12%; text-align: right" title="Marketable securities held in trust account">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--MarketableSecurities_iI_pp0p0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_ztRhWBBasOQ" style="width: 12%; text-align: right" title="Marketable securities held in trust account">-</td><td style="width: 1%; text-align: left"> </td></tr> </table>

Schedule of Fair value Hierarchy of Valuation Inputs <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">As of March 31, 2026</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Quoted Prices in Active Markets (Level 1)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Significant Other Observable Inputs (Level 2)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Significant Other Unobservable Inputs (Level 3)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Marketable Securities held in Trust Account</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--MarketableSecurities_iI_pp0p0_c20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zaYLh7BUSis9" style="width: 12%; text-align: right" title="Marketable Securities held in Trust Account">829,887</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--MarketableSecurities_iI_pp0p0_c20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z2kM5EhnjUB1" style="width: 12%; text-align: right" title="Marketable securities held in trust account">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--MarketableSecurities_iI_pp0p0_c20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zIeUoRG8Rvtb" style="width: 12%; text-align: right" title="Marketable securities held in trust account">-</td><td style="width: 1%; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">As of December 31, 2025</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Quoted Prices in Active Markets (Level 1)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Significant Other Observable Inputs (Level 2)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Significant Other Unobservable Inputs (Level 3)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Marketable Securities held in Trust Account</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--MarketableSecurities_iI_pp0p0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zxUuReThXMl2" style="width: 12%; text-align: right" title="Marketable Securities held in Trust Account">718,072</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--MarketableSecurities_iI_pp0p0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zwdFpOO1DbEb" style="width: 12%; text-align: right" title="Marketable securities held in trust account">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--MarketableSecurities_iI_pp0p0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_ztRhWBBasOQ" style="width: 12%; text-align: right" title="Marketable securities held in trust account">-</td><td style="width: 1%; text-align: left"> </td></tr> </table>

829887

718072

Note 9 – Segment reporting ASC Topic 280, “Segment Reporting,” establishes standards for companies to report in their financial statement information about operating segments, products, services, geographic areas, and major customers. Operating segments are defined as components of an enterprise that engage in business activities from which it may recognize revenues and incur expenses, and for which separate financial information is available that is regularly evaluated by the Company’s chief operating decision maker (“CODM”), or group, in deciding how to allocate resources and assess performance. The Company’s CODM has been identified as the Chief Executive Officer and the Chief Financial Officer, who review the assets, operating results, and financial metrics for the Company as a whole to make decisions about allocating resources and assessing financial performance. Accordingly, management has determined that there is only one reportable segment. The CODM assesses performance for the single segment and decides how to allocate resources based on net income (loss) that also is reported on the unaudited consolidated statement of operations as net income (loss). The measure of segment assets is reported on the balance sheet as total assets. The key measures of segment profit or loss reviewed by the CODM are formation and operational costs. Formation and operational costs are reviewed and monitored by the CODM to manage and forecast cash to ensure enough capital is available to complete the Business Combination within the Combination Period. The CODM also reviews formation and operational costs to manage, maintain and enforce all contractual agreements to ensure costs are aligned with all agreements and budget. Formation and operational costs, as reported on the unaudited consolidated statement of operations, are the significant segment expenses provided to the CODM on a regular basis. All other segment items included in net loss are reported on the unaudited consolidated statement of operations and described within their respective disclosures.

Note 10 – Subsequent Events The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to May 15, 2026, the date the unaudited consolidated financial statements were issued. Based upon the review, the Company did not identify any subsequent events that would have required adjustment or disclosure except those have been disclosed elsewhere in the notes to the unaudited consolidated financial statements and the following: Subsequent to March 31, 2026, in addition to the monthly admin service fee charged by the Sponsor which is recorded under the “Accrued expenses and other liability”, the Sponsor paid a total of $29,905 operating expenses on behalf of the Company. On April 20, 2025, the total redemption amount of $22,190 was distributed and the 702 redeemed shares were canceled on the same date.

29905

22190

702