SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
|
6 Months Ended |
Jun. 30, 2024 |
Accounting Policies [Abstract] |
|
SCHEDULE OF NET INCOME (LOSS) PER SHARE PRESENTED STATEMENTS OF OPERATIONS |
The
net income (loss) per share presented in the statements of operations is based on the following:
SCHEDULE
OF NET INCOME (LOSS) PER SHARE PRESENTED STATEMENTS OF OPERATIONS
| |
For The Three Months | | |
For The Three Months | | |
For The Six
Months | | |
For the period From February 16, 2023 (inception) | |
| |
Ended | | |
Ended | | |
Ended | | |
through | |
| |
June 30, | | |
June 30, | | |
June 30, | | |
June 30, | |
| |
2024 | | |
2023 | | |
2024 | | |
2023 | |
Net income (loss) | |
$ | 592,289 | | |
$ | - | | |
$ | 1,187,666 | | |
$ | (3,105 | ) |
Interest earned from trust account | |
| (713,793 | ) | |
| - | | |
| (1,468,106 | ) | |
| - | |
Net loss including accretion of temporary equity to redemption value | |
$ | (121,504 | ) | |
$ | - | | |
$ | (280,440 | ) | |
$ | (3,105 | ) |
|
SCHEDULE OF EARNINGS PER SHARE BASIC AND DILUTED |
SCHEDULE
OF EARNINGS PER SHARE BASIC AND DILUTED
| |
Shares | | |
Shares | | |
Shares | | |
Shares | |
| |
For the Three Months Ended
June 30, 2024 | | |
For the Three Months Ended
June 30, 2023 | |
| |
Redeemable | | |
Non- Redeemable | | |
Redeemable | | |
Non- Redeemable | |
| |
Shares | | |
Shares | | |
Shares | | |
Shares | |
Basic and diluted net income (loss) per share: | |
| | | |
| | | |
| | | |
| | |
| |
| | | |
| | | |
| | | |
| | |
Numerators: | |
| | | |
| | | |
| | | |
| | |
Allocation of net loss including accretion of temporary equity | |
$ | (94,280 | ) | |
$ | (27,224 | ) | |
$ | - | | |
$ | - | |
Income earned on investment held in Trust Account | |
| 713,793 | | |
| - | | |
| - | | |
| — | |
Allocation of net income (loss) | |
$ | 619,513 | | |
$ | (27,224 | ) | |
$ | - | | |
$ | - | |
| |
| | | |
| | | |
| | | |
| | |
Denominators: | |
| | | |
| | | |
| | | |
| | |
Weighted-average shares outstanding | |
| 6,000,000 | | |
| 1,732,500 | | |
| - | | |
| 1,500,000 | |
Basic and diluted net income (loss) per share | |
$ | 0.10 | | |
$ | (0.02 | ) | |
$ | - | | |
$ | - | |
| |
Shares | | |
Shares | | |
Shares | | |
Shares | |
| |
For the Six months Ended
June 30, 2024 | | |
For the period from February 16, 2023 (inception) through
June 30, 2023 | |
| |
Redeemable | | |
Non- Redeemable | | |
Redeemable | | |
Non- Redeemable | |
| |
Shares | | |
Shares | | |
Shares | | |
Shares | |
Basic and diluted net income (loss) per share: | |
| | | |
| | | |
| | | |
| | |
| |
| | | |
| | | |
| | | |
| | |
Numerators: | |
| | | |
| | | |
| | | |
| | |
Allocation of net loss including accretion of temporary equity | |
$ | (216,671 | ) | |
$ | (63,769 | ) | |
$ | - | | |
$ | (3,105 | ) |
Income earned on investment held in Trust Account | |
| 1,468,106 | | |
| — | | |
| - | | |
| — | |
Allocation of net income (loss) | |
$ | 1,251,435 | | |
$ | (63,769 | ) | |
$ | - | | |
$ | (3,105 | ) |
| |
| | | |
| | | |
| | | |
| | |
Denominators: | |
| | | |
| | | |
| | | |
| | |
Weighted-average shares outstanding | |
| 6,000,000 | | |
| 1,765,879 | | |
| - | | |
| 1,500,000 | |
Basic and diluted net income (loss) per share | |
$ | 0.21 | | |
$ | (0.04 | ) | |
$ | - | | |
$ | (0.00 | ) |
|
SCHEDULE OF ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION REFLECTED IN THE BALANCE SHEET |
At
June 30, 2024, the ordinary shares subject to possible redemption reflected in the balance sheet are reconciled in the following table:
SCHEDULE
OF ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION REFLECTED IN THE BALANCE SHEET
Public offering proceeds | |
$ | 60,000,000 | |
Less: | |
| | |
Proceeds allocated to Public Rights | |
| (2,460,000 | ) |
Allocation of offering costs related to redeemable shares | |
| (4,163,327 | ) |
Plus: | |
| | |
Accretion of carrying value to redemption value | |
| 6,623,327 | |
Ordinary shares subject to possible redemption | |
$ | 60,000,000 | |
Plus: | |
| | |
Subsequent measurement of ordinary shares subject to possible redemption (income earned on trust account) | |
| 107,055 | |
Ordinary shares subject to possible redemption as of December 31, 2023 | |
$ | 60,107,055 | |
Plus: | |
| | |
Subsequent measurement of ordinary shares subject to possible redemption (income earned on trust account) | |
| 1,468,106 | |
Ordinary shares subject to possible redemption as of June 30, 2024 | |
$ | 61,575,161 | |
|