NOTE
5 – EARNINGS PER SHARE:
As
of December 31, 2025 and 2024, the Company had two classes of ordinary shares, Class A ordinary shares subject to possible redemption
and non-redeemable Class A and Class B ordinary shares. In order to determine the net loss attributable to each class, the Company first
considered the total earnings (loss) allocable to both sets of shares. This is calculated using the total earnings (loss) less any Interest
Earned on Investments Held in Trust Account. The accretion to redemption value of the Class A ordinary shares subject to possible redemption
is fully allocated to the Class A ordinary shares subject to redemption.
SCHEDULE OF EARNINGS PER SHARE
| | |
| | |
| |
| | |
Year
ended December 31 | |
| | |
2025 | | |
2024 | |
| | |
U.S.
dollars in thousands (except
share data) | |
| Net loss for
the year | |
| (559 | ) | |
| (1,312 | ) |
Add
- interest earned on marketable securities
held in trust account | |
| (337 | ) | |
| (1,016 | ) |
| Net loss excluding interest | |
| (896 | ) | |
| (2,328 | ) |
| | |
| | | |
| | |
| Class A ordinary shares
subject to possible redemption: | |
| | | |
| | |
| Numerator: | |
| | | |
| | |
| Net loss excluding interest | |
| (157 | ) | |
| (821 | ) |
| Sponsor Loan Waiver | |
| - | | |
| 335 | |
| Accretion
on Class A ordinary shares subject to possible redemption to redemption amount (“Accretion”) | |
| 684 | | |
| 1,485 | |
| Underwriters’
deferred compensation waiver | |
| - | | |
| 4,428 | |
| Class A ordinary shares subject to possible redemption | |
| 527 | | |
| 664 | |
| Non-redeemable Class A and Class B ordinary shares | |
| (1,086 | ) | |
| 2,789 | |
| Denominator: | |
| | | |
| | |
Weighted
average of class A ordinary shares subject to
possible redemption | |
| 674,655 | | |
| 1,724,047 | |
| Basic
and diluted earnings per Class A ordinary share subject to possible redemption | |
| 0.78 | | |
| 0.39 | |
| | |
| | | |
| | |
| Non-redeemable Class A and
Class B ordinary shares: | |
| | | |
| | |
| Numerator: | |
| | | |
| | |
| Net loss excluding interest | |
| (739 | ) | |
| (1,506 | ) |
| Sponsor Loan Waiver | |
| - | | |
| 335 | |
| Accretion (Including the Sponsor’s Surrender of Shares) | |
| (347 | ) | |
| (468 | ) |
| Underwriters’
deferred compensation waiver | |
| - | | |
| 4,428 | |
| Non-redeemable Class A and Class B ordinary shares | |
| (1,086 | ) | |
| 2,789 | |
| Denominator: | |
| | | |
| | |
| Weighted
average of non-redeemable Class A shares and Class B ordinary share outstanding | |
| 3,162,500 | | |
| 3,162,500 | |
| Basic
and diluted earnings (loss) per non-redeemable Class A and Class B ordinary share: | |
| (0.34 | ) | |
| 0.88 | |
As
of December 31, 2025 and 2024, the Company did not have any dilutive securities or any other contracts which could, potentially, be exercised
or converted into ordinary shares and then share in the earnings of the Company.
CACTUS
ACQUISITION CORP. 1 LIMITED
NOTES
TO FINANCIAL STATEMENTS (continued)
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