v3.26.1
SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
SEGMENT INFORMATION

NOTE 5. SEGMENT INFORMATION

 

ASC Topic 280, “Segment Reporting”, establishes standards for companies to report, in their financial statements, 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 Financial Officer, who reviews the operating results for the Company as a whole to make decisions about allocating resources and assessing financial performance. Accordingly, management has determined that the Company only has one reportable segment.

 

The CODM assesses performance for the single segment and decides how to allocate resources based on net income or loss that also is reported on the condensed statements of operations as net income or loss. The measure of segment assets is reported on the condensed balance sheets as total assets. When evaluating the Company’s performance and making key decisions regarding resource allocation, the CODM reviews several key metrics included in net income or loss and total assets, which include the following:

 

Schedule of segment information                
  June 30,     December 31,  
    2026     2025  
Cash and cash equivalents   $ 247,336     $ 720,301  
Due from Sponsor     25,000       25,000  
Investments held in Trust Account     290,668,668       285,607,085  
Prepaid insurance     62,927       104,885  
Total Assets   $ 291,003,931     $ 286,457,271  
                 
    Three months ended
June 30,
2026		     Three months ended
June 30,
2025		  
General and administrative expenses   $ 481,615     $ (53,422)  
(Loss) income from operations     (481,615 )     53,422  
                 
Interest income on cash account     4,228       5,249  
Interest income on investments held in Trust Account     2,550,258       2,573,413  
Net Income (loss)   $ 2,072,871     $ 2,632,084  

 

                 
    Six months ended
June 30,
2026		     Six months ended
June 30,
2025		  
General and administrative expenses   $ 1,158,329     $ 24,870
Loss from operations     (1,158,329 )     (24,870 )
                 
Interest income on cash account     10,335       5,247  
Interest income on investments held in Trust Account     5,061,583       2,573,413  
Net Income (loss)   $ 3,913,589     $ 2,553,790  

 

The CODM reviews the position of total assets available with the Company to assess if the Company has sufficient resources available to discharge its liabilities. The CODM is provided with details of cash and liquid resources available with the Company. Additionally, the CODM regularly reviews the status of deferred costs incurred to assess if these are in line with the planned use of proceeds raised from the public offering.

 

The CODM reviews general and administrative expenses to manage and forecast cash to ensure enough capital is available to complete a business combination or similar transaction within the business combination period. The CODM also reviews general and administrative expenses to manage, maintain and enforce all contractual agreements to ensure costs are aligned with all agreements and budget. General and administrative expenses, as reported on the condensed statements of operations, are the significant segment information provided to the CODM on a regular basis. All other segment items included in net income or loss are reported on the condensed statements of operations and described within their respective disclosures. The CODM reviews the position of total assets available with the Company to assess if the Company has sufficient resources available to discharge its liabilities. The CODM is provided with details of cash and liquid resources available with the Company.