| Schedule of reconciliation of common stock subject to possible redemption reflected in the balance sheets |
| Schedule of reconciliation of common
stock subject to possible redemption reflected in the balance sheets |
|
|
|
|
| Gross proceeds |
|
$ |
115,000,000 |
|
| Less: |
|
|
|
|
| Common stock issuance costs |
|
|
(1,625,220 |
) |
| Plus: |
|
|
|
|
| Accretion of carrying value to redemption value |
|
|
3,350,220 |
|
| Common stock subject to possible redemption, December 31, 2021 |
|
|
116,725,000 |
|
| Plus: |
|
|
|
|
| Accretion of carrying value to redemption value |
|
|
1,084,374 |
|
| Common stock subject to possible redemption, December 31, 2022 |
|
|
117,809,374 |
|
| Less: |
|
|
|
|
| Shares Redeemed |
|
|
(93,010,772 |
) |
| Plus: |
|
|
|
|
| Accretion of carrying value to redemption value |
|
|
1,792,959 |
|
| Common stock subject to possible redemption, September 30, 2023 |
|
$ |
26,591,561 |
|
|
| Schedule of calculation of basic and diluted net income (loss) per common share |
| Schedule of calculation of basic and diluted net income (loss) per common share |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
For the
Three Months Ended
September 30, |
|
|
For the
Nine Months Ended
September 30, |
|
| |
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
| Net (loss) income |
|
$ |
(646,092 |
) |
|
$ |
304,331 |
|
|
$ |
156,857 |
|
|
$ |
163,259 |
|
| Accretion of redeemable common stock to redemption amount |
|
|
(188,932 |
) |
|
|
(369,382 |
) |
|
|
(1,792,959 |
) |
|
|
(442,365 |
) |
| Excise taxes on stock redemption |
|
|
- |
|
|
|
- |
|
|
|
(930,108 |
) |
|
|
- |
|
| Net loss including accretion of temporary equity to redemption value and excise taxes on stock redemption |
|
$ |
(835,024 |
) |
|
$ |
(65,051 |
) |
|
$ |
(2,566,210 |
) |
|
$ |
(279,106 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
For
the Three Months Ended
September 30, |
|
|
For
the Nine Months Ended
September 30, |
|
| |
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
| |
|
Redeemable |
|
|
Non-redeemable |
|
|
Redeemable |
|
|
Non-redeemable |
|
|
Redeemable |
|
|
Non-redeemable |
|
|
Redeemable |
|
|
Non-redeemable |
|
| |
|
Common
stock |
|
|
Common
stock |
|
|
Common
stock |
|
|
Common
stock |
|
|
Common
stock |
|
|
Common
stock |
|
|
Common
stock |
|
|
Common
stock |
|
| Basic
and diluted net (loss) income per common share |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Numerator: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Allocation
of net loss including accretion of temporary equity to redemption value |
|
$ |
(358,531 |
) |
|
$ |
(476,493 |
) |
|
$ |
(50,422 |
) |
|
$ |
(14,629 |
) |
|
$ |
(1,774,826 |
) |
|
$ |
(791,384 |
) |
|
$ |
(216,339 |
) |
|
$ |
(62,767 |
) |
| Accretion
of common stock to redemption value |
|
|
188,932 |
|
|
|
- |
|
|
|
369,382 |
|
|
|
- |
|
|
$ |
1,792,959 |
|
|
|
- |
|
|
|
442,365 |
|
|
|
- |
|
| Excise
taxes on stock redemption |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
930,108 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Net
(loss) income |
|
$ |
(169,599 |
) |
|
$ |
(476,493 |
) |
|
$ |
318,960 |
|
|
$ |
(14,629 |
) |
|
$ |
948,241 |
|
|
$ |
(791,384 |
) |
|
$ |
226,026 |
|
|
$ |
(62,767 |
) |
| Denominator: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic
and diluted weighted average shares outstanding |
|
|
2,510,512 |
|
|
|
3,336,500 |
|
|
|
11,500,000 |
|
|
|
3,336,500 |
|
|
|
7,482,720 |
|
|
|
3,336,500 |
|
|
|
11,500,000 |
|
|
|
3,336,500 |
|
| Basic
and diluted net (loss) income per common share |
|
$ |
(0.07 |
) |
|
$ |
(0.14 |
) |
|
$ |
0.03 |
|
|
$ |
(0.00 |
) |
|
$ |
0.13 |
|
|
$ |
(0.24 |
) |
|
$ |
0.02 |
|
|
$ |
(0.02 |
) |
|