| 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 |
|
|
(102,900,344) |
Plus: |
|
|
|
Accretion of carrying value to redemption value |
|
|
2,040,857 |
Common stock subject to possible redemption, December 31, 2023 |
|
|
16,949,887 |
Plus: |
|
|
|
Accretion of carrying value to redemption value |
|
|
319,636 |
Common stock subject to possible redemption, March 31, 2024 |
|
$ |
17,269,523 |
|
| Schedule of calculation of basic and diluted net (loss) income per common share |
|
|
|
|
|
|
|
|
|
For the |
|
For the |
|
|
Three Months |
|
Three Months |
|
|
Ended |
|
Ended |
|
|
March 31, 2024 |
|
March 31, 2023 |
Net (loss) income |
|
$ |
(121,197) |
|
$ |
708,556 |
Accretion of redeemable common stock to redemption amount |
|
|
(319,636) |
|
|
(874,573) |
Net loss including accretion of temporary equity to redemption value |
|
$ |
(440,833) |
|
$ |
(166,017) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the |
|
For the |
|
|
Three Months Ended |
|
Three Months Ended |
|
|
March 31,2024 |
|
March 31,2023 |
|
|
Redeemable |
|
Non-redeemable |
|
Redeemable |
|
Non-redeemable |
|
|
common stock |
|
common stock |
|
common stock |
|
common stock |
Basic and diluted net loss per common share |
|
|
|
|
|
|
|
|
|
|
|
|
Numerator: |
|
|
|
|
|
|
|
|
|
|
|
|
Allocation of net loss, including accretion of temporary equity to redemption value |
|
$ |
(141,839) |
|
$ |
(298,994) |
|
$ |
(128,682) |
|
$ |
(37,335) |
Accretion of common stock to redemption value |
|
|
319,636 |
|
|
— |
|
|
874,573 |
|
|
— |
Net income (loss) |
|
$ |
177,797 |
|
$ |
(298,994) |
|
$ |
745,891 |
|
$ |
(37,335) |
Denominator: |
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted weighted average shares outstanding |
|
|
1,582,797 |
|
|
3,336,500 |
|
|
11,500,000 |
|
|
3,336,500 |
Basic and diluted net income (loss) per common share |
|
$ |
0.11 |
|
$ |
(0.09) |
|
$ |
0.06 |
|
$ |
(0.01) |
|