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

527

664

(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

(1,086

)

2,789

Denominator:

Weighted average of non-redeemable Class A shares and Class B ordinary share outstanding

3,162,500

Basic and diluted earnings (loss) per non-redeemable Class A and Class B ordinary share:

(0.34

)

0.88