v3.26.1
Statement of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss for the year $ (559) $ (1,312)
Adjustments to reconcile net loss to net cash used in operating activities:    
Financial expenses 143 304
Changes in operating assets and liabilities:    
Stock based compensation 387
Decrease (increase) in prepaid expenses 174 (196)
Increase in accrued expenses 112 402
Net cash (used in), operating activities (130) (415)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Redemption of Class A Ordinary shares (8,676) (13,389)
Proceeds from sponsor loan 95 953
Proceeds from promissory note 415 600
Net cash (used in), financing activities (8,166) (11,836)
DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (8,296) (12,251)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF THE PERIOD 8,988 21,239
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF THE PERIOD 692 8,988
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH:    
Cash and cash equivalents 51 8
Cash held in trust account 641 8,980
CASH AND CASH EQUIVALENTS AT END OF THE PERIOD 692 8,988
SUPPLEMENTARY INFORMATION ON INVESTING AND FINANCING ACTIVITIES NOT INVOLVING CASH FLOWS:    
Sponsor Loan Waiver 860
Sponsor inducement for issuing the promissory note 246
Underwriters’ deferred compensation waiver $ 4,428