XML 31 R17.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2023
Accounting Policies [Abstract]  
Schedule of Ordinary Shares Reflected on Balance Sheet

As of December 31, 2023 and December 31, 2022, the Class A Ordinary Shares reflected on the balance sheet are reconciled in the following table:

 

Schedule of Ordinary Shares Reflected on Balance Sheet 

   December 31,   December 31, 
   2023   2022 
Redeemable Class A Common Stock – Opening Balance  $19,706,540   $116,725,000 
Less:          
Redemption of Class A common stock, including interest   (7,476,715)   (98,539,000)
Plus:          
Extension fund in transit   -    170,594 
Re-measurement of carrying value to redemption value   1,729,308    1,349,946 
Redeemable Class A Common Stock - Ending Balance   13,959,133    19,706,540 
Schedule of Earnings Per Share

The net income (loss) per share presented in the statement of operations is based on the following:

 

Schedule of Earnings Per Share

                     
   For the year ended
December 31, 2023
   For the year ended
December 31, 2022
 
   Class A
ordinary
shares
   Class B
ordinary
shares
  

Class A
ordinary
shares

  

Class B
ordinary
shares

 
Basic and diluted net loss per share:                    
Numerators:                    
Allocation of expenses  $(365,403)   (539,387)  $(1,029,491)  $(265,221)
Interest   858,423    -    1,348,596    - 
Allocation of net (loss) income  $493,020   $(539,387)  $319,105   $(265,221)
Denominators:                    
Weighted-average shares outstanding   1,947,642    2,875,000    11,159,721    2,875,000 
Basic and diluted net income (loss) per share  $0.25   $(0.19)  $0.03   $(0.09)
Schedule of Fair Value on a Recurring Basis

The following table presents information about the Company’s financial assets that are measured at fair value on a recurring basis as of December 31, 2023 and December 31, 2022:

Schedule of  Fair Value on a Recurring Basis

 

   Level  

December 31,

2023

  

December 31,

2022

 
Assets:               
Cash and marketable securities held in trust account   1   $13,959,133   $19,706,540