NOTE
5 - EARNINGS PER SHARE:
As
of March 31, 2026 and 2025, the Company had two classes of ordinary shares, Class A ordinary shares Subject to possible redemption 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 possible redemption.
SCHEDULE OF EARNINGS PER SHARE
| | |
2026 | | |
2025 | |
| | |
Three
months ended March 31 | |
| | |
2026 | | |
2025 | |
| | |
U.S.
dollars in thousands (except
share data) | |
| Net loss for the
period | |
| (168 | ) | |
| (78 | ) |
| Add -
interest earned on marketable securities held in trust account | |
| (6 | ) | |
| (95 | ) |
| Net loss excluding interest | |
| (174 | ) | |
| (173 | ) |
| | |
| | | |
| | |
| Class A
ordinary shares subject to possible redemption: | |
| | | |
| | |
| Numerator: | |
| | | |
| | |
| Net
loss excluding interest | |
| (3 | ) | |
| (34 | ) |
| Accretion
on Class A ordinary shares subject to possible redemption to redemption amount (“Accretion”) | |
| 6 | | |
| 95 | |
| Class A ordinary shares subject to possible redemption | |
| 3 | | |
| 61 | |
| Denominator: | |
| | | |
| | |
| Weighted
average of class A ordinary shares subject to possible redemption | |
| 52,239 | | |
| 763,592 | |
| Basic
and diluted earnings per Class A ordinary share subject to possible redemption | |
| 0.06 | | |
| 0.08 | |
| | |
| | | |
| | |
| Non-redeemable
Class A and Class B ordinary shares: | |
| | | |
| | |
| Numerator: | |
| | | |
| | |
| Net
loss excluding interest | |
| (171 | ) | |
| (139 | ) |
| Non-redeemable Class A and Class B ordinary shares | |
| (171 | ) | |
| (139 | ) |
| Denominator: | |
| | | |
| | |
| Weighted
average of non-redeemable Class A and Class B ordinary shares outstanding | |
| 3,162,500 | | |
| 3,162,500 | |
| Basic
and diluted (loss) per non-redeemable Class A and Class B ordinary share | |
| (0.05 | ) | |
| (0.04 | ) |
As
of March 31, 2026, 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.
|