| 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 |
|
|
801,360 |
Common stock subject to possible redemption, September 30, 2024 |
|
$ |
17,751,247 |
|
| Schedule of calculation of basic and diluted net (loss) income per common share |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months |
|
For the Nine Months |
|
|
Ended September 30, |
|
Ended September 30, |
|
|
2024 |
|
2023 |
|
2024 |
|
2023 |
Net (loss) income |
|
$ |
(195,976) |
|
$ |
(646,092) |
|
$ |
(1,036,605) |
|
$ |
156,857 |
Accretion of redeemable common stock to redemption amount |
|
|
(224,609) |
|
|
(188,932) |
|
|
(801,360) |
|
|
(1,792,959) |
Excise taxes on stock redemption |
|
|
— |
|
|
— |
|
|
— |
|
|
(930,108) |
Net (loss) income including accretion of temporary equity to redemption value and excise taxes on stock redemption |
|
$ |
(420,585) |
|
$ |
(835,024) |
|
$ |
(1,837,965) |
|
$ |
(2,566,210) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months Ended September 30, |
|
For the Nine Months Ended September 30, |
|
|
2024 |
|
2023 |
|
2024 |
|
2023 |
|
|
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 income (loss) per common share |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Numerator: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allocation of net income (loss) including accretion of temporary equity to redemption value |
|
$ |
(135,324) |
|
$ |
(285,261) |
|
$ |
(358,531) |
|
$ |
(476,493) |
|
$ |
(591,370) |
|
$ |
(1,246,595) |
|
$ |
(1,774,826) |
|
$ |
(791,384) |
Accretion of common stock to redemption value |
|
|
224,609 |
|
|
— |
|
|
188,932 |
|
|
— |
|
|
801,360 |
|
|
— |
|
|
1,792,959 |
|
|
— |
Excise taxes on stock redemption |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
930,108 |
|
|
— |
Net income (loss) |
|
$ |
89,285 |
|
$ |
(285,261) |
|
$ |
(169,599) |
|
$ |
(476,493) |
|
$ |
209,990 |
|
$ |
(1,246,595) |
|
$ |
948,241 |
|
$ |
(791,384) |
Denominator: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted weighted average shares outstanding |
|
|
1,582,797 |
|
|
3,336,500 |
|
|
2,510,512 |
|
|
3,336,500 |
|
|
1,582,797 |
|
|
3,336,500 |
|
|
7,482,720 |
|
|
3,336,500 |
Basic and diluted net income (loss) per common share |
|
$ |
0.06 |
|
$ |
(0.09) |
|
$ |
(0.07) |
|
$ |
(0.14) |
|
$ |
0.13 |
|
$ |
(0.37) |
|
$ |
0.13 |
|
$ |
(0.24) |
|