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S-1 STARDUST POWER INC. DE 99-3863616 15 E. Putnam Ave Suite 378 Greenwich CT 06830 (800) 742 3095 Roshan Pujari Stardust Power Inc.15 E. Putnam Ave Suite 378 Greenwich CT 06830 (800) 742 3095 Non-accelerated Filer true true false

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Note 1 – Description of Organization and Business Operations DESCRIPTION OF THE COMPANY Global Partner Acquisition Corp II was incorporated under the laws of the Cayman Islands as an exempted company on November 3, 2020. Together with its wholly owned subsidiaries Strike Merger Sub I, Inc. and Strike Merger Sub II, LLC., both incorporated or formed in Delaware in November 2023 (collectively the “Company” and “GPAC II”), the Company was formed for the purpose of effecting a merger, capital share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses (the “Business Combination”). The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act of 1933, as amended, or the “Securities Act,” as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). As of December 31, 2023, the Company had not commenced any operations. All activity for the period from November 3, 2020 (inception) to December 31, 2023 relates to the Company’s formation and the initial public offering (the “Public Offering”) described below and, subsequent to the Public Offering, identifying and completing a suitable Business Combination. The Company will not generate any operating revenues until after completion of its initial Business Combination, at the earliest. The Company generates non-operating income in the form of interest income from the proceeds derived from the Public Offering. In January 2023, the shareholders of the Company took various actions and the Company entered into various agreements resulting in a change of control of the Company, redemption of approximately 87% of its Class A ordinary shares, par value $<span id="xdx_900_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20230131__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--BusinessAcquisitionAxis__us-gaap--SeriesOfIndividuallyImmaterialBusinessAcquisitionsMember_zSQkxWjWdQ0i" title="Ordinary shares, par value">0.0001 per share (the “Class A ordinary shares”), an extension of the date to complete a Business Combination and certain additional financing and other matters as discussed in further detail in the Form 10-K Annual Report filed on March 31, 2023 (the “Annual Report”), and the Form 8-K filed on January 18, 2023, with the Securities and Exchange Commission (the “SEC”) as well as throughout these notes to the consolidated financial statements. Subsequent to December 31, 2023, there was a further extension of time to complete a business combination and further redemptions and other matters as discussed in various notes below regarding the 2024 Extension Meeting and as described in the Form 8-K filed with the SEC on January 16, 2024. All dollar amounts are rounded to the nearest thousand dollars. Sponsor and Public Offering: The Company’s sponsor is Global Partner Sponsor II LLC, a Delaware limited liability company (the “Sponsor”). The Company intends to finance a Business Combination with unredeemed proceeds from the $300,000,000 Public Offering (see Note 3 and below) and a $<span id="xdx_90F_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_c20230101__20231231__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zxIbzNONY3B6" title="Proceeds from issuance of private placement">8,350,000 private placement (see Note 4). Upon the closing of the Public Offering and the private placement, $300,000,000 was deposited in a trust account (the “Trust Account”) at closing on January 14, 2021. In January 2023, the following material transactions, among others, changed the control over and resources of the Company, all as further discussed in these notes to financial statements, as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in">1.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top">On January 11, 2023, the Company held an Extension Meeting of its shareholders in which the shareholders approved the proposal to amend the Company’s amended and restated memorandum and articles of association (the “Extension Amendment Proposal”) to extend the date required to complete a Business Combination (as described further in Business Combination below). In connection with the vote to approve the Extension Amendment Proposal the holders of <span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_c20230101__20231231__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zKbXdAeqipnc" title="Ordinary shares exercised">26,068,281 Class A ordinary shares of the Company exercised their right to redeem their shares for cash at a redemption price of approximately $<span id="xdx_907_eus-gaap--CommonStockDividendsPerShareCashPaid_c20230101__20231231__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zaApsKrs6m72" title="Redemption price">10.167 per share for an aggregate redemption amount of approximately $265,050,000 resulting in <span id="xdx_90D_eus-gaap--TemporaryEquitySharesOutstanding_iI_c20231231__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z81M7XQJZnVi" title="Ordinary shares subject to possible redemption">3,931,719 Class A ordinary shares remaining outstanding.</td></tr> </table> Global Partner Acquisition Corp II Notes to Consolidated Financial Statements December 31, 2023 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">On January 13, 2023, the Company, entered into an Investment Agreement (the “Investment Agreement”) with the Sponsor and Endurance Global Partner II, LLC, a Delaware limited liability company (the “Investor”), pursuant to which the Investor agreed to contribute to the Sponsor an aggregate amount in cash equal to up to $3,000,000, which amount is being loaned to the Company in accordance with the January 13, 2023 Promissory Note (as defined below), in consideration for which, the Sponsor issued to the Investor interests in certain equity securities of the Company.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">3.</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">Pursuant to the Investment Agreement, the Sponsor transferred control of the Sponsor to affiliates of Antarctica Capital Partners LLC. </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">4.</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">Pursuant to the Investment Agreement, the Sponsor has agreed to lend to the Company the funds required to pay expenses incurred by the Company and reasonably related to the costs and expenses of facilitating the extension of the term of the Company. </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">5.</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">Further, on January 13, 2023, Paul J. Zepf, Pano Anthos, Andrew Cook, James McCann and Jay Ripley tendered their resignations as directors of the Company. Additionally, Paul J. Zepf and David Apseloff resigned as officers of the Company. There was no known disagreement with any of the outgoing directors or officers on any matter relating to the Company’s operations, policies or practices. </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">6.</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">The Company made settlements and received releases from several creditors in exchange for cash payments made resulting in the reduction of approximately $2,961,000 of accrued liabilities which is reflected as a credit to operating expenses in the accompanying consolidated statements of operations. </td></tr> </table> See also below regarding, subsequent to December 31, 2023, the 2024 Extension Meeting. Trust Account: The funds in the Trust Account can only be invested in cash or U.S. government treasury bills with a maturity of one hundred and eighty-five (185) days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act of 1940. On January 11, 2023, the Company liquidated the U.S. government treasury obligations or money market funds held in the Trust Account. Funds will remain in the Trust Account until the earlier of (i) the consummation of its initial Business Combination or (ii) the distribution of the Trust Account as described below. The remaining funds outside the Trust Account may be used to pay for business, legal and accounting due diligence on prospective acquisition targets, legal and accounting fees related to regulatory reporting obligations, payment for services of investment professionals and support services, continued listing fees and continuing general and administrative expenses. The Company’s amended and restated memorandum and articles of association provided that, other than the withdrawal of interest to pay tax obligations, if any, less up to $<span id="xdx_90A_ecustom--MaximumNetInterestToPayDissolutionExpenses_iI_c20231231__us-gaap--BusinessAcquisitionAxis__us-gaap--SeriesOfIndividuallyImmaterialBusinessAcquisitionsMember_znLGABSJpWKf" title="Maximum net interest to pay dissolution expenses">100,000 of interest to pay dissolution expenses, none of the funds held in trust will be released until the earliest of (a) the completion of the initial Business Combination, (b) the redemption of any public shares properly submitted in connection with a shareholder vote to amend the Company’s amended and restated memorandum of association (i) to modify the substance or timing of the Company’s obligation to redeem 100% of the public shares if the Company does not complete the initial Business Combination by the date by which the Company is required to consummate a business combination pursuant to the amended and restated memorandum and articles of association, July 14, 2024 if extended per below (previously January 14, 2023 and then January 14, 2024 as discussed below) (the “Termination Date”), or (ii) with respect to any other provision relating to shareholders’ rights or pre-Business Combination activity, and (c) the redemption of the public shares if the Company is unable to complete the initial Business Combination by the Termination Date, subject to applicable law, which includes the extended time that the Company has to consummate a Business Combination beyond the Termination Date as a result of a shareholder vote to amend the Company’s amended and restated articles of incorporation. The proceeds deposited in the Trust Account could become subject to the claims of creditors, if any, which could have priority over the claims of the Company’s public shareholders. Global Partner Acquisition Corp II Notes to Consolidated Financial Statements December 31, 2023 On January 11, 2023, the Company’s shareholders voted to extend the date by which the Company has to consummate a Business Combination from January 14, 2023 to April 23, 2023 (the “Articles Extension Date”) and to allow the Company, without another shareholder vote, to elect to extend the date to consummate a Business Combination on a monthly basis for up to nine times by an additional one month each time up until the Termination Date of January 14, 2024. Upon each of the nine one-month extensions, the Sponsor or one or more of its affiliates, members or third-party designees may contribute to the Company $150,000 as a loan to be deposited into the Trust Account. During the year ended on December 31, 2023 the board of directors of the Company approved (i) one-month extensions of the Termination Date in from April through December, resulting in a new Termination Date of September 14, 2024, and (ii) draws of an aggregate of $1,800,000 pursuant to the Extension Promissory Note - related party (as defined below) to fund the extensions. Subsequent to December 31, 2023, on January 9, 2024, Global Partner Acquisition Corp II (“GPAC II” and “Company”) held the extraordinary general meeting of shareholders of the Company (the “2024 Extension Meeting”) to amend (the “Articles Amendment”), by way of special resolution, the Company’s amended and restated memorandum and articles of association (as amended, the “2024 Amended Articles”) to extend the date by which the Company has to consummate a business combination from January 14, 2024 to July 14, 2024 (the “Revised Termination Date”) for a total of an additional six months after January 14, 2024, unless the closing of a Business Combination shall have occurred prior thereto (collectively, the “2024 Extension Amendment Proposal”); to eliminate, by way of special resolution, from the Amended Articles the limitation that GPAC II may not redeem Class A ordinary shares, par value $.0001 per share (the “Class A Ordinary Shares” and “Public Shares”), to the extent that such redemption would result in GPAC II having net tangible assets of less than $5,000,001 (the “Redemption Limitation”) in order to allow the Company to redeem Public Shares irrespective of whether such redemption would exceed the Redemption Limitation (the “Redemption Limitation Amendment Proposal”); to provide, by way of special resolution, that Public Shares may be issued to Global Partner Sponsor II LLC (the “Sponsor”) by way of conversion of Class B ordinary shares, par value $.0001 per share (the “Class B Ordinary Shares” and together with Class A Ordinary Shares, the “Ordinary Shares”), into Public Shares, despite the restriction on issuance of additional Public Shares (the “Founder Conversion Amendment Proposal” and together with the Extension Amendment Proposal and Redemption Limitation Amendment Proposal, the “Proposals”); and, if required an adjournment proposal to adjourn, by way of ordinary resolution, the Extension Meeting to a later date or dates, if necessary, (i) to permit further solicitation and vote of proxies if, based upon the tabulated vote at the time of the Extension Meeting, there are insufficient Ordinary Shares at the Extension Meeting to approve the Proposals, or (ii) where the board of directors of the Company has determined it is otherwise necessary (the “Adjournment Proposal”). The shareholders of the Company approved the Proposals at the 2024 Extension Meeting and on January 11, 2024, the Company filed the Articles Amendment with the Registrar of Companies of the Cayman Islands. Also subsequent to December 31, 2023 and in connection with the 2024 Extension Meeting to approve the Extension Amendment Proposal, the Company’s Sponsor entered into non-redemption agreements (the “Non-Redemption Agreements”) with several unaffiliated third parties, pursuant to which such third parties agreed not to redeem (or to validly rescind any redemption requests on) an aggregate of 1,503,254 Class A Ordinary Shares of the Company in connection with the Extension Amendment Proposal. In exchange for the foregoing commitments not to redeem such Class A Ordinary Shares of the Company, the Sponsor agreed to transfer or cause to be issued for no consideration an aggregate of 127,777 shares of the Company and simultaneous forfeiture of 127,777 shares of the Company in connection with the Company’s completion of its initial Business Combination. Global Partner Acquisition Corp II Notes to Consolidated Financial Statements December 31, 2023 Business Combination: The Company’s management has broad discretion with respect to the specific application of the net proceeds of the Public Offering, although substantially all of the net proceeds of the Public Offering are intended to be generally applied toward consummating a Business Combination with (or acquisition of) a Target Business. As used herein, “Target Business” is one or more target businesses that together have a fair market value equal to at least <span id="xdx_903_ecustom--ConditionForFutureBusinessCombinationUseOFProceedsPercentage_dp_uPure_c20230101__20231231_zMmxErGVEOT9" title="Condition for future business combination use of proceeds percentage.">80% of the balance in the Trust Account (excluding the deferred underwriting commission and taxes payable on interest earned on the Trust Account) at the time of signing a definitive agreement in connection with the Company’s initial Business Combination. There is no assurance that the Company will be able to successfully effect a Business Combination. The Company, after signing a definitive agreement for a Business Combination, will either (i) seek shareholder approval of the Business Combination at a meeting called for such purpose in connection with which shareholders may seek to redeem their shares, regardless of whether they vote for or against the Business Combination, for cash equal to their pro rata share of the aggregate amount then on deposit in the Trust Account as of two business days prior to the consummation of the initial Business Combination, including interest earned on funds held in the Trust Account and not previously released to pay income taxes, or (ii) provide shareholders with the opportunity to have their shares redeemed by the Company by means of a tender offer (and thereby avoid the need for a shareholder vote) for an amount in cash equal to their pro rata share of the aggregate amount then on deposit in the Trust Account as of two business days prior to commencement of the tender offer, including interest earned on funds held in the Trust Account and not previously released to pay income taxes. The decision as to whether the Company will seek shareholder approval of the Business Combination or will allow shareholders to sell their shares in a tender offer will be made by the Company, solely in its discretion, and will be based on a variety of factors such as the timing of the transaction and whether the terms of the transaction would otherwise require the Company to seek shareholder approval unless a vote is required by the rules of the Nasdaq Capital Market (the “Nasdaq”). If the Company seeks shareholder approval, it will complete its Business Combination only if a majority of the outstanding Class A ordinary shares and Class B ordinary shares, par value $0.0001 per share (the “Class B ordinary shares”), voted are voted in favor of the Business Combination. However, in no event will the Company redeem its public shares in an amount that would cause its net tangible assets to be less than $5,000,001 upon consummation of a Business Combination. In such case, the Company would not proceed with the redemption of its public shares and the related Business Combination, and instead may search for an alternate Business Combination. If the Company holds a shareholder vote or there is a tender offer for shares in connection with a Business Combination, a public shareholder will have the right to redeem its shares for an amount in cash equal to its pro rata share of the aggregate amount then on deposit in the Trust Account as of two business days prior to the consummation of the initial Business Combination, including interest earned on funds held in the Trust Account and not previously released to pay income taxes. As a result, such Class A ordinary shares are recorded at the redemption amount and classified as temporary equity upon the completion of the Public Offering, in accordance with Financial Accounting Standards Board (the “FASB”) Accounting Standards Codification (“ASC”) 480, “Distinguishing Liabilities from Equity” (“ASC 480”). The amount in the Trust Account is initially funded at $10.00 per public Class A ordinary share ($300,000,000 held in the Trust Account divided by 30,000,000 public shares), see however Note 3 regarding shareholder redemptions in January 2023. Global Partner Acquisition Corp II Notes to Consolidated Financial Statements December 31, 2023 As further discussed above, the Company will have until the Revised Termination Date, that was proposed to and approved by the Company’s shareholders subsequent to December 31, 2023 in the form of an amendment to the Company’s amended and restated memorandum and articles of association (the “Revised Combination Period”). If the Company does not complete a Business Combination within this period of time, it shall (i) cease all operations except for the purposes of winding up and (ii) as promptly as reasonably possible, but not more than ten business days thereafter, redeem the public Class A ordinary shares for a per share pro rata portion of the Trust Account, including interest earned on funds held in the Trust Account and not previously released to pay income taxes (less up to $100,000 of such net interest to pay dissolution expenses) and as promptly as possible following such redemption, dissolve and liquidate the balance of the Company’s net assets to its creditors and remaining shareholders, as part of its plan of dissolution and liquidation. The initial shareholders have entered into letter agreements with the Company, pursuant to which they have waived their rights to participate in any redemption with respect to their Founder Shares; however, if the initial shareholders or any of the Company’s officers, directors or affiliates acquire Class A ordinary shares in or after the Public Offering, they will be entitled to a pro rata share of the Trust Account with respect to the Class A ordinary shares so acquired upon the Company’s redemption or liquidation in the event the Company does not complete a Business Combination within the Revised Combination Period. In the event of such distribution, it is possible that the per share value of the residual assets remaining available for distribution (including Trust Account assets) will be less than the price per Unit (as defined below) in the Public Offering. Mandatory Liquidation and Going Concern: At December 31, 2023, the Company has approximately $22,000 in cash and approximately $7,836,000 in working capital deficit. The Company has incurred significant costs and expects to continue to incur additional costs in pursuit of its Business Combination. Further, if the Company cannot complete an initial Business Combination by July 14, 2024, it could be forced to wind up its operations and liquidate unless it receives an extension approval from its shareholders. These conditions raise substantial doubt about the Company’s ability to continue as a going concern for a period of time within one year after the date that the consolidated financial statements are issued. In connection with its financial position and intention to complete a Business Combination, the Company has secured financing from its Sponsor. 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Note 2 – Business Combination Agreement BUSINESS COMBINATION AGREEMENT On November 21, 2023, the Company, entered into a Business Combination Agreement (as it may be amended, supplemented or otherwise modified from time to time, the “Business Combination Agreement”), with Strike Merger Sub I, Inc., a Delaware corporation and direct wholly-owned subsidiary of GPAC II (“First Merger Sub”), Strike Merger Sub II, LLC, a Delaware limited liability company and direct wholly-owned subsidiary of GPAC II (“Second Merger Sub”), and Stardust Power Inc., a Delaware corporation (“Stardust Power”). The Business Combination Agreement and the transactions contemplated thereby to occur at or immediately prior to the Closing (“Transactions”) were approved by the boards of directors of each of GPAC II and Stardust Power. Global Partner Acquisition Corp II Notes to Consolidated Financial Statements December 31, 2023 The Domestication Pursuant to the Business Combination Agreement, prior to the consummation of the Mergers (as defined below) contemplated by the Business Combination Agreement (the “Closing”), and subject to the Supermajority Acquiror Shareholder Approval (as defined therein), GPAC II will domesticate as a Delaware corporation (the “Domestication”) in accordance with Section 388 of the Delaware General Corporation Law and Sections 206 to 209 of the Companies Act (As Revised) of the Cayman Islands. Prior to the Domestication, each Class B Ordinary Share outstanding shall be converted into one (1) Class A Ordinary Share in accordance with the Company’s amended and restated memorandum and articles of association, other than as set forth in the Sponsor Letter Agreement (the “Class B Ordinary Share conversion”). In connection with the Domestication, (i) each Class A Ordinary Share outstanding immediately prior to the effective time of the Domestication and following the Class B Ordinary Share conversion shall be converted into one share of common stock, par value $0.0001 per share of GPAC II (the “GPAC II Common Stock”) and (ii) each then-issued and outstanding whole warrant exercisable for one Class A Ordinary Share will be converted into a warrant exercisable for one share of GPAC II Common Stock at an exercise price of $11.50 per share on the terms and conditions set forth in the Warrant Agreement, dated as of January 11, 2021, by and between GPAC II and Continental Stock Transfer & Trust Company, as warrant agent (as amended or amended and restated from time to time). In connection with clauses (i) and (ii) of this paragraph, each issued and outstanding unit of GPAC II that has not been previously separated into the underlying Class A Ordinary Shares and the underlying GPAC II warrants will be canceled and will entitle the holder thereof to one share of GPAC II Common Stock and one-sixth of one GPAC II warrant. The Business Combination The Business Combination Agreement provides for, among other things, the following Transactions: (i) the Domestication, (ii) following the Domestication, First Merger Sub will merge with and into Stardust Power, with Stardust Power as the surviving company in the merger (the “First Merger”) and, (iii) immediately following the First Merger, and as part of the same overall transaction as the First Merger, Stardust Power will merge with and into Second Merger Sub (the “Second Merger” and, together with the First Merger, the “Mergers”), with Merger Sub II being the surviving company of the Second Merger (Merger Sub II, in its capacity as the surviving company of the Second Merger, the “Surviving Company”), and as a result of which the Surviving Company will become a wholly-owned subsidiary of GPAC II. At Closing, GPAC II will change its name to “Stardust Power Inc.” and will continue trading on the Nasdaq Capital Market under the new symbols “SDST” and “SDSTW,” respectively, following Closing. At Closing, in connection with the Transactions, GPAC II and certain holders of Stardust Power Common Stock (as defined below) (the “Stardust Power Stockholders”) will enter into a Shareholder Agreement (as defined in the Business Combination Agreement), a Registration Rights Agreement (as defined in the Business Combination Agreement) and a Lock-Up Agreement (as defined in the Business Combination Agreement), each in form and in substance to be agreed, to be effective upon the Closing. The Business Combination is expected to close in the first half of 2024, following the receipt of the required approval by GPAC II’s shareholders and the fulfillment or waiver of other customary closing conditions. Global Partner Acquisition Corp II Notes to Consolidated Financial Statements December 31, 2023 Business Combination Consideration In accordance with the terms and subject to the conditions of the Business Combination Agreement, (a) each share of common stock of Stardust Power, par value $<span id="xdx_90C_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20231231__us-gaap--BusinessAcquisitionAxis__us-gaap--SeriesOfIndividuallyImmaterialBusinessAcquisitionsMember_zVDhv2I2H2e5" title="Ordinary shares, par value">0.00001 per share (“Stardust Power Common Stock”) (including Stardust Power Common Stock issued in connection with the Stardust Power SAFE Conversion (as defined in the Business Combination Agreement)), issued and outstanding immediately prior to the First Effective Time (as defined in the Business Combination Agreement) other than any Cancelled Shares (as defined in the Business Combination Agreement) and Dissenting Shares (as defined in the Business Combination Agreement) shall be converted into the right to receive the number of GPAC II Common Stock equal to the Per Share Consideration (as defined in the Business Combination Agreement); (b) each outstanding Stardust Power Option (as defined in the Business Combination Agreement), whether vested or unvested, shall automatically convert into an option to purchase a number of shares of GPAC II Common Stock equal to the number of shares of GPAC II Common Stock subject to such Stardust Power Option immediately prior to the First Effective Time multiplied by the Per Share Consideration at an exercise price per share equal to the exercise price per share of Stardust Power Common Stock divided by the Per Share Consideration, subject to certain adjustments; and (c) each share of Stardust Power Restricted Stock (as defined in the Business Combination Agreement) outstanding immediately prior to the First Effective Time shall convert into a number of shares of GPAC II Common Stock equal to the number of shares of Stardust Power Common Stock subject to such Stardust Power Restricted Stock multiplied by the Per Share Consideration (rounded down to the nearest whole share). The total consideration to be paid at Closing to the selling parties in connection with the Business Combination Agreement will be based on an enterprise value of $450,000,000 (excluding a $50 million earnout, based upon an assumed price of $10 per share, payable upon achievement of certain milestones), subject to certain adjustments as set forth in the Business Combination Agreement, including with respect to certain transaction expenses and the cash and debt of Stardust Power. Additionally, in the event, prior to the eighth (8th) anniversary of the Closing, the volume-weighted average price of GPAC II Common Stock is greater than or equal to $12.00 per share for a period of 20 trading days in any 30-trading day period or there is a change of control, the Company will issue five million shares of GPAC II Common Stock to the holders of Stardust Power as additional merger consideration. Following the execution and delivery of the Business Combination Agreement, and subject to the approval of the shareholders of GPAC II, GPAC II will adopt a customary incentive equity plan that will provide that the GPAC II Common Stock reserved for issuance thereunder, together with the shares of GPAC II Common Stock reserved with respect to Exchanged Company Options and Exchanged Company Common Restricted Stock under the Stardust Power Equity Incentive Plan, will be set at an amount equal to <span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfOutstandingStockMaximum_dp_uPure_c20230101__20231231_zaNpkIlNKVv2" title="Common stock outstanding percentage">10.00% of GPAC II Common Stock outstanding immediately after Closing. Governance GPAC II has agreed to take all action within its power as may be necessary or appropriate such that, effective immediately after the Closing, the GPAC II board of directors shall consist of seven directors, which will be divided into three classes, which directors shall include: two directors designated by Stardust Power, one director designated by Sponsor and four directors designated by Stardust Power whom shall meet the standards of independence for companies subject to the rules and regulations of The Nasdaq Stock Market LLC. Additionally, the current Stardust Power management team will move to GPAC II in their current roles and titles. Representations and Warranties; Covenants The Business Combination Agreement contains representations, warranties and covenants of each of the parties thereto that are customary for transactions of this type, including with respect to the operations of GPAC II and Stardust Power. In addition, GPAC II has agreed to adopt an equity incentive plan, as described in the Business Combination Agreement. Stardust Power has agreed to use its commercially reasonable efforts to sell Stardust Power Common Stock in a private placement on terms mutually agreed to by GPAC II and Stardust Power. GPAC II may enter into subscription agreements for securities of GPAC II following the date of the Business Combination Agreement, in an amount not to exceed $150,000,000 in the aggregate. Global Partner Acquisition Corp II Notes to Consolidated Financial Statements December 31, 2023 GPAC II and Stardust Power have agreed to enter into certain agreements to be effective upon Closing to (i) provide registration rights to certain Stardust Power Stockholders, (ii) restrict the sale or transfer of shares of GPAC II Common Stock held by Sponsor and certain Stardust Power Stockholders for 180 days following Closing, subject to certain exceptions and (iii) to provide certain rights to Sponsor with respect to the Sponsor’s designation of a director to the GPAC II board following Closing. Conditions to Each Party’s Obligations The obligation of GPAC II and Stardust Power to consummate the Business Combination is subject to certain closing conditions, including, but not limited to, (i) the expiration or termination of the applicable waiting period under the HSR Act, (ii) no governmental authority having enacted any law that makes the Transaction or any part thereof illegal or otherwise prohibited, (iii) the Registration Statement (as defined below) becoming effective, (iv) the approval of GPAC II’s shareholders being obtained and (v) the approval of Stardust Power’s stockholders being obtained. In addition, the obligation of GPAC II and Merger Subs to consummate the Business Combination is subject to the fulfillment of other closing conditions, including, but not limited to, (i) the representations and warranties of Stardust Power being true and correct to the standards applicable to such representations and warranties and each of the covenants of Stardust Power having been performed or complied with in all material respects, (ii) the other representations and warranties, except for those set forth in (i) above, of Stardust Power being true and correct as of the Closing Date, as though made on and as of the Closing Date except for certain exceptions mentioned in the Business Combination Agreement, (iii) each of the covenants of the Stardust Power to be performed or complied with by it under the Business Combination Agreement as of or prior to the Closing having been performed or complied with in all material respects, (iv) each of the covenants of the Stardust Power to be performed or complied with by it under the Business Combination Agreement as of or prior to the Closing having been performed or complied with in all material respects, (v) Stardust Power having delivered to GPAC II a certificate signed by an authorized officer of Stardust Power, dated the Closing Date (an “Officer’s Certificate”), certifying that, to the knowledge and belief of such officer, the conditions set forth in the three (3) immediately preceding points have been fulfilled, (vi) Stardust Power and the other parties thereto entering into certain amendments to the outstanding SAFE Agreements and being in full force and effect, (vii) since the date of the Business Combination Agreement, there not having occurred any change, effect, event, occurrence, state of facts or development that, in the aggregate, has had or would reasonably be expected to result in a Material Adverse Effect (as defined in the Business Combination Agreement), and (viii) Stardust Power having delivered to GPAC II executed counterparts to all of the Ancillary Agreements (as defined in the Business Combination Agreement) to which Stardust Power, or any stockholder of Stardust Power, is party. The obligation of Stardust Power to consummate the Business Combination is also subject to the fulfillment of other closing conditions, including, but not limited to, (i) the representations and warranties of GPAC II, First Merger Sub and Second Merger Sub being true and correct to the standards applicable to such representations and warranties and each of the covenants of GPAC II having been performed or complied with in all material respects, (ii) each of the pre-Closing or at-Closing covenants of GPAC II shall have been performed or complied with in all material respects, (iii) GPAC II’s delivering an Officer’s Certificate to Stardust Power, (iv) the approval by Nasdaq of GPAC II’s listing application in connection with the Business Combination, (v) the non-occurrence of a Material Adverse Effect, and (vi) GPAC II’s delivery to Stardust Power the executed counterparts of all of the Ancillary Agreements to which GPAC II is a party. Global Partner Acquisition Corp II Notes to Consolidated Financial Statements December 31, 2023 Termination The Business Combination Agreement may be terminated at any time at or prior to Closing: (i) by mutual written consent of GPAC II and Stardust Power, (ii) by written notice from GPAC II to Stardust Power if the representations and warranties of Stardust Power are not true and correct or if Stardust Power fails to perform any covenant or agreement set forth in the Business Combination Agreement such that certain conditions to closing cannot be satisfied and the breach or breaches of such representations or warranties or the failure to perform such covenant or agreement, as applicable, are not cured or cannot be cured within certain specified time periods so long as the breaching party is using its commercially reasonable efforts to cure such breach within such period (the “cure period”), (iii) by written notice from Stardust Power to GPAC II if the representations and warranties of GPAC II are not true and correct or if GPAC II fails to perform any covenant or agreement set forth in the Business Combination Agreement such that certain conditions to closing cannot be satisfied and the breach or breaches of such representations or warranties or the failure to perform such covenant or agreement, as applicable, are not cured or cannot be cured within the cure period, (iv) by either GPAC II or Stardust Power if the Business Combination is not consummated by July 14, 2024 (as may be extended under certain conditions), provided that the terminating party’s failure to fulfill any obligation under the Business Combination Agreement was not the primary cause of, or primarily resulted in, the failure of Closing to occur or if the terminating party is in breach of the Business Combination Agreement, which breach could give rise to a right of the other party to terminate the Business Combination Agreement, (v) by either GPAC II or Stardust Power if the consummation of the Mergers is permanently enjoined or prohibited by the terms of a final, non-appealable government order or other law; (vi) by written notice from either GPAC II or Stardust Power if the GPAC II shareholder approval is not obtained at the special meeting of GPAC II (subject to any adjournment or recess of the meeting), (vii) by written notice from GPAC II to Stardust Power if certain Stardust Power stockholder approval has not been obtained within two business days following the date that the Registration Statement is declared effective, and (viii) by Stardust Power if GPAC II is delisted from the Nasdaq Capital Market (and has not been listed on the New York Stock Exchange or another reasonably acceptable national securities exchange or OTC Markets) prior to the consummation of the Transactions. A copy of the Business Combination Agreement is filed with the Current Report on Form 8-K as Exhibit 2.1 filed on November 21, 2023. The Business Combination Agreement contains representations, warranties and covenants that the respective parties made to each other as of the date of the Business Combination Agreement or other specific dates. The assertions embodied in those representations, warranties and covenants were made for purposes of the contract among the respective parties and are subject to important qualifications and limitations agreed to by the parties in connection with negotiating such agreement. The representations, warranties and covenants in the Business Combination Agreement are also modified in important part by the underlying disclosure schedules which are not filed publicly and which are subject to a contractual standard of materiality different from that generally applicable to stockholders and were used for the purpose of allocating risk among the parties rather than establishing matters as facts. GPAC II does not believe that these schedules contain information that is material to an investment decision. Company Support Agreements and Sponsor Letter Agreement Contemporaneously with the execution of the Business Combination Agreement, certain Stardust Power Stockholders entered into a Company Support Agreement (collectively, the “Company Support Agreements”) with GPAC II and Stardust Power, pursuant to which such stockholders have agreed to certain support matters as described in the Company Support Agreement. Further, concurrently with the execution of the Business Combination Agreement, the Sponsor and, for certain limited purposes set forth therein, the executive officers and directors of GPAC II entered into the Sponsor Letter Agreement (the “Sponsor Letter Agreement”) with GPAC II and Stardust Power, pursuant to which the Sponsor agreed to, among certain things as described in the Sponsor Letter Agreement. Global Partner Acquisition Corp II Notes to Consolidated Financial Statements December 31, 2023

0.0001

11.50

0.00001

450000000

50000000

12.00

5000000

0.1000

150000000

Note 3 – Summary of Significant Accounting Policies BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation: The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Strike Merger Sub I, Inc., a Delaware corporation and Strike Merger Sub II, LLC, a Delaware limited liability company, both formed to facilitate the acquisition of Stardust Power (Note 2). All significant intercompany balances and transactions have been eliminated in consolidation. Basis of Presentation: The consolidated financial statements of the Company are presented in U.S. dollars and have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Emerging Growth Company: Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such an election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when an accounting standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. Net Income per Ordinary Share: Net (Loss) Income per Ordinary Share Net income per ordinary share is computed by dividing net income applicable to ordinary shareholders by the weighted average number of ordinary shares outstanding for the period. The Company has not considered the effect of the warrants sold in the Public Offering and private placement to purchase an aggregate of 11,221,954 at December 31, 2023 (15,566,667 at December 31, 2022) Class A ordinary shares in the calculation of diluted income per ordinary share, since their inclusion would be anti-dilutive under the treasury stock method and are dependent on future events. As a result, diluted income per ordinary share is the same as basic income per ordinary share for the period. The Company complies with the accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share.” The Company has two classes of shares, which are referred to as Class A ordinary shares and Class B ordinary shares. Income and losses are shared pro rata among the two classes of shares. Net income per ordinary share is calculated by dividing the net income by the weighted average number of ordinary shares outstanding during the respective period. The changes in redemption value that are accreted to Class A ordinary subject to redemption (see below) is representative of fair value and therefore is not factored into the calculation of earnings per share. Global Partner Acquisition Corp II Notes to Consolidated Financial Statements December 31, 2023 The following tables reflect the earnings per share after allocating income between the shares based on outstanding shares: SCHEDULE OF BASIC AND DILUTED NET LOSS PER SHARE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Year ended December 31, 2023</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Year ended December 31, 2022</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class A</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class B</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class A</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class B</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-style: italic">Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Basic and diluted net income per ordinary share:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 36%; text-align: left">Allocation of income – basic and diluted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_902_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zHFqNCodVpl8" title="Allocation of income - basic"><span id="xdx_906_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zfDrT4CaPq78" title="Allocation of income - diluted">54,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_907_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zqxajmpCnNi9" title="Allocation of income - basic"><span id="xdx_906_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zhPA2OaPPkp3" title="Allocation of income - diluted">85,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_900_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zJEJkQ96lzoa" title="Allocation of income - basic"><span id="xdx_903_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z3Ta39EMdhXd" title="Allocation of income - diluted">12,055,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_907_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zhs6rR5T516h" title="Allocation of income - basic"><span id="xdx_90D_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zMLt7lw1auy5" title="Allocation of income - diluted">3,014,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-style: italic">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Basic and diluted weighted average ordinary shares:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zxNCKy84IZq4" title="Basic weighted average ordinary shares"><span id="xdx_90C_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z1W21iYZI8P1" title="Diluted weighted average ordinary shares">4,718,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_znw0tIUYzVYh" title="Basic weighted average ordinary shares"><span id="xdx_901_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zwoH0MnZBVW2" title="Diluted weighted average ordinary shares">7,500,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zjuwYGT6AmGb" title="Basic weighted average ordinary shares"><span id="xdx_900_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zJOUT7MUdbA1" title="Diluted weighted average ordinary shares">30,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zkQ7avxSxhO9" title="Basic weighted average ordinary shares"><span id="xdx_90B_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zYHqji9gKgNa" title="Diluted weighted average ordinary shares">7,500,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Basic and diluted net income per ordinary share</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.01</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.01</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.40</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.40</td><td style="text-align: left"> </td></tr> </table> Concentration of Credit Risk: The Company can have significant cash balances at financial institutions which throughout the year may exceed the federally insured limit of $250,000. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations, and cash flows. Cash and Cash Equivalents: The Company considers all highly liquid instruments with original maturities of three months or less when acquired to be cash equivalents. The Company had no cash equivalents at December 31, 2023 and 2022. Fair Value Measurements: The Company complies with FASB ASC 820, “Fair Value Measurements” (“ASC 820”), for its financial assets and liabilities that are re-measured and reported at fair value at each reporting period, and non-financial assets and liabilities that are re-measured and reported at fair value at least annually. As of December 31, 2023 and 2022, the carrying values of cash, prepaid expenses, accounts payable, accrued expenses and notes payable – related party approximate their fair values primarily due to the short-term nature of the instruments. Fair value is defined as the price that would be received for sale of an asset or paid for transfer of a liability, in an orderly transaction between market participants at the measurement date. GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets; </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. </td></tr> </table> Global Partner Acquisition Corp II Notes to Consolidated Financial Statements December 31, 2023 In some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement. Use of Estimates: The preparation of consolidated financial statements in conformity with U.S. GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated balance sheet and the reported amounts of expenses during the reporting period. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the consolidated financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. One of the more significant estimates included in these consolidated financial statements is the determination of the fair value of the warrant liability. Such estimates may be subject to change as more current information becomes available and accordingly the actual results could differ significantly from those estimates. Offering Costs: The Company complies with the requirements of the FASB ASC 340-10-S99-1 and SEC Staff Accounting Bulletin Topic 5A— “Expenses of Offering.” Costs incurred in connection with preparation for the Public Offering totaled approximately $17,054,000 including $16,500,000 of underwriters’ discount. Such costs were allocated among the temporary equity and warrant liability components, based on their relative fair value. Upon completion of the Public Offering, approximately $16,254,000 has been charged to Class B ordinary shares subject to redemption for the temporary equity components and approximately $800,000 has been charged to other expense for the warrant liability. <p id="xdx_84C_eus-gaap--SharesSubjectToMandatoryRedemptionChangesInRedemptionValuePolicyTextBlock_zplLU4fNfyC6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; background-color: white">Class A Ordinary Shares Subject to Possible Redemption: As discussed in Note 4, all of the <span id="xdx_906_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20210114__20210114__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zFDgqdw1F5J2" title="Ordinary shares sold">30,000,000 Class A ordinary shares sold as part of the Units (as defined below) in the Public Offering contain a redemption feature that allows for the redemption under the Company’s liquidation or tender offer/shareholder approval provisions. In accordance with FASB ASC 480, redemption provisions not solely within the control of the Company require the security to be classified outside of permanent equity. Ordinary liquidation events, which involve the redemption and liquidation of all of the entity’s equity instruments, are excluded from the provisions of FASB ASC 480. Although the Company had not specified a maximum redemption threshold, its articles of association provide that in no event will it redeem its public shares in an amount that would cause its net tangible assets (shareholders’ equity) to be less than $5,000,001. However, because all of the Class A ordinary shares are redeemable, all of the shares are recorded as Class A ordinary shares subject to redemption on the enclosed consolidated balance sheets. On January 11, 2023, in connection with the vote to approve the Extension Amendment Proposal the holders of <span id="xdx_907_ecustom--RedemptionOfCommonShares_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember_zYhEBiftMywl" title="Redemption of common shares">26,068,281 Class A ordinary shares of the Company exercised their right to redeem their shares for cash at a redemption price of approximately $<span id="xdx_907_eus-gaap--TemporaryEquityRedemptionPricePerShare_iI_c20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember_z74bhX2fxHNk" title="Redemption price">10.167 per share for an aggregate redemption amount of approximately $<span id="xdx_909_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember_zw5pce1URJLl" title="Redemption amount">265,050,000 reducing the number of Class A ordinary shares to <span id="xdx_90B_eus-gaap--TemporaryEquitySharesOutstanding_iI_c20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember_zrrY9g30fOPd" title="Ordinary shares subject to possible redemption">3,931,719. Global Partner Acquisition Corp II Notes to Consolidated Financial Statements December 31, 2023 The Company recognizes changes immediately as they occur and adjusts the carrying value of the securities at the end of each reporting period. Increases or decreases in the carrying amount of redeemable Class A ordinary shares are affected by adjustments to additional paid-in capital. Accordingly, <span id="xdx_909_eus-gaap--TemporaryEquitySharesOutstanding_iI_c20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember_ztNwRWmo22u6" title="Ordinary shares subject to possible redemption">3,931,719 and <span id="xdx_904_eus-gaap--TemporaryEquitySharesOutstanding_iI_c20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember_zOjJARqk1gV" title="Ordinary shares subject to possible redemption">30,000,000 shares, respectively, were classified outside of permanent equity at December 31, 2023 and 2022. Class A ordinary shares subject to redemption consist of the following: SCHEDULE OF ORDINARY SHARES SUBJECT TO REDEMPTION CONSIST <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Dollars</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Gross proceeds of Public Offering</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zyeyD9ookJm5" style="width: 16%; text-align: right" title="Gross proceeds of Public Offering, Value">300,000,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--WeightedAverageNumberOfSharesIssuedBasic_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zNfjEo2C4NT1" style="width: 16%; text-align: right" title="Gross proceeds of Public Offering, Shares">30,000,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Less: Proceeds allocated to Public Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ProceedsFromIssuanceOfWarrants_iN_di_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zMx85EcLPEvk" style="text-align: right" title="Less: Proceeds allocated to Public Warrants, Value">(14,100,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_ecustom--TemporaryEquityProceedsAllocatedToPublicWarrantsShares_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zMOwqi5LaeY5" style="text-align: right" title="Less: Proceeds allocated to Public Warrants, Shares">—</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Offering costs</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--TemporaryEquityOfferingCosts_iN_di_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_z4CFbDE72Fwd" style="text-align: right" title="Offering costs, Value">(16,254,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--TemporaryEquityOfferingCostsShares_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zmzLKFma2GZ1" style="text-align: right" title="Offering costs, Shares">—</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">Plus: Accretion of carrying value to redemption value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zl7fDbjjMkBh" style="border-bottom: Black 1pt solid; text-align: right" title="Accretion of carrying value to redemption value, Value">30,354,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_98F_ecustom--TemporaryEquityAccretionOfCarryingValueToRedemptionValueShares_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zTcrg1S0n1u9" style="border-bottom: Black 1pt solid; text-align: right" title="Accretion of carrying value to redemption value, Shares">—</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">—Subtotal at inception and at December 31, 2021</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iS_c20220101__20221231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zpodp9WdXTD2" style="text-align: right" title="Balance">300,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--TemporaryEquitySharesOutstanding_iS_c20220101__20221231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zx0vGJO5kfSj" style="text-align: right" title="Balance, shares">30,000,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--PaymentsForRepurchaseOfCommonStock_iN_di_hus-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zMqTkVAQfA0c" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Less: Public Shares redeemed, value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Balance"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Balance, shares"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--PaymentsForRepurchaseOfCommonShares_iS_hus-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zRh3n1GZQ8ih" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Less: Public Shares redeemed, shares </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Balance"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Balance, shares"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 10pt">Accretion of carrying value to redemption value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20220101__20221231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_z0nL1MAQKVul" style="border-bottom: Black 1pt solid; text-align: right" title="Accretion of carrying value to redemption value, Value">4,675,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_987_ecustom--TemporaryEquityAccretionOfCarryingValueToRedemptionValueShares_c20220101__20221231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zTCdNCLAcIY5" style="border-bottom: Black 1pt solid; text-align: right" title="Accretion of carrying value to redemption value, Shares">—</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Class A ordinary shares subject to possible redemption at December 31, 2022</td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iS_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_z3uov6WU85gi" style="text-align: right" title="Balance">304,675,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--TemporaryEquitySharesOutstanding_iS_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zjPGscOo0csl" style="text-align: right" title="Balance, shares">30,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Class A ordinary shares redeemed on January 11, 2023</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--StockRedeemedOrCalledDuringPeriodValue_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zk0yaK9Kq00l" style="text-align: right" title="Class A ordinary shares redeemed, Value">(265,050,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--StockRedeemedOrCalledDuringPeriodShares_iN_di_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zJgYMA8Y4yE4" style="text-align: right" title="Class A ordinary shares redeemed, Shares">(26,068,281</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Accretion of carrying value to redemption value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zuOPaAcyDWs9" style="border-bottom: Black 1pt solid; text-align: right" title="Accretion of carrying value to redemption value, Value">4,079,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_980_ecustom--TemporaryEquityAccretionOfCarryingValueToRedemptionValueShares_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zwHdSeLkhZA" style="border-bottom: Black 1pt solid; text-align: right" title="Accretion of carrying value to redemption value, Shares">—</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Balance at December 31, 2023</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iE_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_znCERyYGJYO8" style="border-bottom: Black 2.5pt double; text-align: right" title="Balance">43,704,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td id="xdx_989_eus-gaap--TemporaryEquitySharesOutstanding_iE_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zJKI6Xaxj5zl" style="border-bottom: Black 2.5pt double; text-align: right" title="Balance, shares">3,931,719</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Subsequent to December 31, 2023, on January 11, 2024, in connection with the 2024 Extension Meeting, holders of <span id="xdx_904_ecustom--RedemptionOfCommonShares_c20240111__20240111__srt--TitleOfIndividualAxis__custom--TwoZeroTwoFourExtensionMeetingMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zpCbXcJJ4uBf" title="Redemption of common shares">2,137,134 Class A ordinary shares exercised their right to redeem their shares for cash at a redemption price of approximately $<span id="xdx_90A_eus-gaap--TemporaryEquityRedemptionPricePerShare_iI_c20240111__srt--TitleOfIndividualAxis__custom--TwoZeroTwoFourExtensionMeetingMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zWuvygiLDdZe" title="Redemption price">11.05 per share, for an aggregate redemption amount of approximately $<span id="xdx_90B_eus-gaap--TemporaryEquityAccretionToRedemptionValueAdjustment_c20240111__20240111__srt--TitleOfIndividualAxis__custom--TwoZeroTwoFourExtensionMeetingMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zqDhzDqq9Lcf" title="Aggregate redemption amount">23,615,331. Further, in 2024 Extension Meeting, the shareholders voted to remove the restriction on maximum redemptions. Income Taxes: FASB ASC 740 prescribes a recognition threshold and a measurement attribute for the consolidated balance sheet recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company’s management determined that the Cayman Islands is the Company’s major tax jurisdiction. There were no unrecognized tax benefits as of December 31, 2023 and 2022. The Company recognizes interest and penalties related to unrecognized tax benefits as income tax expense. No amounts were accrued for the payment of interest and penalties at December 31, 2023 or 2022. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company is considered a Cayman Islands exempted company and is presently not subject to income taxes or income tax filing requirements in the Cayman Islands or the United States. As such, the Company’s tax provision was zero for the periods presented. The Company’s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months. Global Partner Acquisition Corp II Notes to Consolidated Financial Statements December 31, 2023 Warrant Liability: The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in FASB ASC 480 and ASC 815, “Derivatives and Hedging” (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own ordinary shares, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding. For issued or modified warrants that meet all of the criteria for equity classification, the warrants are required to be recorded as a component of additional paid-in capital at the time of issuance. For issued or modified warrants that do not meet all the criteria for equity classification, the warrants are required to be recorded as a liability at their initial fair value on the date of issuance, and each consolidated balance sheet date thereafter. Changes in the estimated fair value of the warrants are recognized as a non-cash gain or loss on the consolidated statement of operations. Costs associated with issuing the warrants accounted for as liabilities are charged to operations when the warrants are issued. Subsequent Events: The Company evaluated subsequent events and transactions that occurred after the date of the consolidated balance sheets through the March 20, 2024 date that the consolidated financial statements were available to be issued and has concluded that all such events that would require adjustment or disclosure in the financial statements have been recognized or disclosed. See above, as well as Notes 1, 4, 5, 7 and 8 regarding actions taken at the 2024 Extension Meeting to extend the date to complete a business combination resulting in a New Termination Date, as well as shareholder redemptions of 2,137,134 Class A ordinary shares for approximately $23,615,000 and non-redemption agreements with holders of 1,503,254 Class A ordinary shares in exchange for the transfer of 127,777 Class B ordinary shares (after conversion to Class A ordinary shares), and the increase in the amount available to the Company under extension promissory notes among other items. Recent Accounting Pronouncements: In August 2020, the FASB issued Accounting Standards Update (“ASU”) 2020-06, “Debt — Debt with Conversion and Other Options” (Subtopic 470-20) and “Derivatives and Hedging — Contracts in Entity’s Own Equity” (Subtopic 815-40) (“ASU 2020-06”), to simplify accounting for certain financial instruments. ASU 2020-06 eliminates the current models that require separation of beneficial conversion and cash conversion features from convertible instruments and simplifies the derivative scope exception guidance pertaining to equity classification of contracts in an entity’s own equity. The new standard also introduces additional disclosures for convertible debt and freestanding instruments that are indexed to and settled in an entity’s own equity. ASU 2020-06 amends the diluted earnings per share guidance, including the requirement to use the if-converted method for all convertible instruments. ASU 2020-06 is effective January 1, 2024 and should be applied on a full or modified retrospective basis. The Company has adopted this standard for its Extension promissory notes and there is no impact to the consolidated financial statements - related party as further discussed in Note 5. Management does not believe that any other recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s consolidated financial statements. Global Partner Acquisition Corp II Notes to Consolidated Financial Statements December 31, 2023

Principles of Consolidation: The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Strike Merger Sub I, Inc., a Delaware corporation and Strike Merger Sub II, LLC, a Delaware limited liability company, both formed to facilitate the acquisition of Stardust Power (Note 2). All significant intercompany balances and transactions have been eliminated in consolidation.

Basis of Presentation: The consolidated financial statements of the Company are presented in U.S. dollars and have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”).

Emerging Growth Company: Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such an election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when an accounting standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard.

Net Income per Ordinary Share: Net (Loss) Income per Ordinary Share Net income per ordinary share is computed by dividing net income applicable to ordinary shareholders by the weighted average number of ordinary shares outstanding for the period. The Company has not considered the effect of the warrants sold in the Public Offering and private placement to purchase an aggregate of 11,221,954 at December 31, 2023 (15,566,667 at December 31, 2022) Class A ordinary shares in the calculation of diluted income per ordinary share, since their inclusion would be anti-dilutive under the treasury stock method and are dependent on future events. As a result, diluted income per ordinary share is the same as basic income per ordinary share for the period. The Company complies with the accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share.” The Company has two classes of shares, which are referred to as Class A ordinary shares and Class B ordinary shares. Income and losses are shared pro rata among the two classes of shares. Net income per ordinary share is calculated by dividing the net income by the weighted average number of ordinary shares outstanding during the respective period. The changes in redemption value that are accreted to Class A ordinary subject to redemption (see below) is representative of fair value and therefore is not factored into the calculation of earnings per share. Global Partner Acquisition Corp II Notes to Consolidated Financial Statements December 31, 2023 The following tables reflect the earnings per share after allocating income between the shares based on outstanding shares: SCHEDULE OF BASIC AND DILUTED NET LOSS PER SHARE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Year ended December 31, 2023</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Year ended December 31, 2022</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class A</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class B</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class A</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class B</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-style: italic">Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Basic and diluted net income per ordinary share:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 36%; text-align: left">Allocation of income – basic and diluted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_902_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zHFqNCodVpl8" title="Allocation of income - basic"><span id="xdx_906_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zfDrT4CaPq78" title="Allocation of income - diluted">54,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_907_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zqxajmpCnNi9" title="Allocation of income - basic"><span id="xdx_906_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zhPA2OaPPkp3" title="Allocation of income - diluted">85,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_900_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zJEJkQ96lzoa" title="Allocation of income - basic"><span id="xdx_903_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z3Ta39EMdhXd" title="Allocation of income - diluted">12,055,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_907_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zhs6rR5T516h" title="Allocation of income - basic"><span id="xdx_90D_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zMLt7lw1auy5" title="Allocation of income - diluted">3,014,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-style: italic">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Basic and diluted weighted average ordinary shares:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zxNCKy84IZq4" title="Basic weighted average ordinary shares"><span id="xdx_90C_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z1W21iYZI8P1" title="Diluted weighted average ordinary shares">4,718,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_znw0tIUYzVYh" title="Basic weighted average ordinary shares"><span id="xdx_901_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zwoH0MnZBVW2" title="Diluted weighted average ordinary shares">7,500,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zjuwYGT6AmGb" title="Basic weighted average ordinary shares"><span id="xdx_900_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zJOUT7MUdbA1" title="Diluted weighted average ordinary shares">30,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zkQ7avxSxhO9" title="Basic weighted average ordinary shares"><span id="xdx_90B_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zYHqji9gKgNa" title="Diluted weighted average ordinary shares">7,500,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Basic and diluted net income per ordinary share</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.01</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.01</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.40</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.40</td><td style="text-align: left"> </td></tr> </table>

11221954

15566667

The following tables reflect the earnings per share after allocating income between the shares based on outstanding shares: SCHEDULE OF BASIC AND DILUTED NET LOSS PER SHARE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Year ended December 31, 2023</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Year ended December 31, 2022</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class A</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class B</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class A</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class B</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-style: italic">Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Basic and diluted net income per ordinary share:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 36%; text-align: left">Allocation of income – basic and diluted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_902_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zHFqNCodVpl8" title="Allocation of income - basic"><span id="xdx_906_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zfDrT4CaPq78" title="Allocation of income - diluted">54,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_907_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zqxajmpCnNi9" title="Allocation of income - basic"><span id="xdx_906_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zhPA2OaPPkp3" title="Allocation of income - diluted">85,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_900_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zJEJkQ96lzoa" title="Allocation of income - basic"><span id="xdx_903_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z3Ta39EMdhXd" title="Allocation of income - diluted">12,055,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_907_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zhs6rR5T516h" title="Allocation of income - basic"><span id="xdx_90D_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zMLt7lw1auy5" title="Allocation of income - diluted">3,014,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-style: italic">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Basic and diluted weighted average ordinary shares:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zxNCKy84IZq4" title="Basic weighted average ordinary shares"><span id="xdx_90C_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z1W21iYZI8P1" title="Diluted weighted average ordinary shares">4,718,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_znw0tIUYzVYh" title="Basic weighted average ordinary shares"><span id="xdx_901_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zwoH0MnZBVW2" title="Diluted weighted average ordinary shares">7,500,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zjuwYGT6AmGb" title="Basic weighted average ordinary shares"><span id="xdx_900_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zJOUT7MUdbA1" title="Diluted weighted average ordinary shares">30,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zkQ7avxSxhO9" title="Basic weighted average ordinary shares"><span id="xdx_90B_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zYHqji9gKgNa" title="Diluted weighted average ordinary shares">7,500,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Basic and diluted net income per ordinary share</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.01</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.01</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.40</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.40</td><td style="text-align: left"> </td></tr> </table>

54000

85000

12055000

3014000

4718000

7500000

30000000

7500000

0.01

0.40

Concentration of Credit Risk: The Company can have significant cash balances at financial institutions which throughout the year may exceed the federally insured limit of $250,000. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations, and cash flows.

250000

Cash and Cash Equivalents: The Company considers all highly liquid instruments with original maturities of three months or less when acquired to be cash equivalents. The Company had no cash equivalents at December 31, 2023 and 2022.

Fair Value Measurements: The Company complies with FASB ASC 820, “Fair Value Measurements” (“ASC 820”), for its financial assets and liabilities that are re-measured and reported at fair value at each reporting period, and non-financial assets and liabilities that are re-measured and reported at fair value at least annually. As of December 31, 2023 and 2022, the carrying values of cash, prepaid expenses, accounts payable, accrued expenses and notes payable – related party approximate their fair values primarily due to the short-term nature of the instruments. Fair value is defined as the price that would be received for sale of an asset or paid for transfer of a liability, in an orderly transaction between market participants at the measurement date. GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets; </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. </td></tr> </table> Global Partner Acquisition Corp II Notes to Consolidated Financial Statements December 31, 2023 In some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement.

Use of Estimates: The preparation of consolidated financial statements in conformity with U.S. GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated balance sheet and the reported amounts of expenses during the reporting period. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the consolidated financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. One of the more significant estimates included in these consolidated financial statements is the determination of the fair value of the warrant liability. Such estimates may be subject to change as more current information becomes available and accordingly the actual results could differ significantly from those estimates.

Offering Costs: The Company complies with the requirements of the FASB ASC 340-10-S99-1 and SEC Staff Accounting Bulletin Topic 5A— “Expenses of Offering.” Costs incurred in connection with preparation for the Public Offering totaled approximately $17,054,000 including $16,500,000 of underwriters’ discount. Such costs were allocated among the temporary equity and warrant liability components, based on their relative fair value. Upon completion of the Public Offering, approximately $16,254,000 has been charged to Class B ordinary shares subject to redemption for the temporary equity components and approximately $800,000 has been charged to other expense for the warrant liability.

17054000

16500000

16254000

800000

<p id="xdx_84C_eus-gaap--SharesSubjectToMandatoryRedemptionChangesInRedemptionValuePolicyTextBlock_zplLU4fNfyC6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; background-color: white">Class A Ordinary Shares Subject to Possible Redemption: As discussed in Note 4, all of the <span id="xdx_906_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20210114__20210114__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zFDgqdw1F5J2" title="Ordinary shares sold">30,000,000 Class A ordinary shares sold as part of the Units (as defined below) in the Public Offering contain a redemption feature that allows for the redemption under the Company’s liquidation or tender offer/shareholder approval provisions. In accordance with FASB ASC 480, redemption provisions not solely within the control of the Company require the security to be classified outside of permanent equity. Ordinary liquidation events, which involve the redemption and liquidation of all of the entity’s equity instruments, are excluded from the provisions of FASB ASC 480. Although the Company had not specified a maximum redemption threshold, its articles of association provide that in no event will it redeem its public shares in an amount that would cause its net tangible assets (shareholders’ equity) to be less than $5,000,001. However, because all of the Class A ordinary shares are redeemable, all of the shares are recorded as Class A ordinary shares subject to redemption on the enclosed consolidated balance sheets. On January 11, 2023, in connection with the vote to approve the Extension Amendment Proposal the holders of <span id="xdx_907_ecustom--RedemptionOfCommonShares_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember_zYhEBiftMywl" title="Redemption of common shares">26,068,281 Class A ordinary shares of the Company exercised their right to redeem their shares for cash at a redemption price of approximately $<span id="xdx_907_eus-gaap--TemporaryEquityRedemptionPricePerShare_iI_c20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember_z74bhX2fxHNk" title="Redemption price">10.167 per share for an aggregate redemption amount of approximately $<span id="xdx_909_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember_zw5pce1URJLl" title="Redemption amount">265,050,000 reducing the number of Class A ordinary shares to <span id="xdx_90B_eus-gaap--TemporaryEquitySharesOutstanding_iI_c20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember_zrrY9g30fOPd" title="Ordinary shares subject to possible redemption">3,931,719. Global Partner Acquisition Corp II Notes to Consolidated Financial Statements December 31, 2023 The Company recognizes changes immediately as they occur and adjusts the carrying value of the securities at the end of each reporting period. Increases or decreases in the carrying amount of redeemable Class A ordinary shares are affected by adjustments to additional paid-in capital. Accordingly, <span id="xdx_909_eus-gaap--TemporaryEquitySharesOutstanding_iI_c20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember_ztNwRWmo22u6" title="Ordinary shares subject to possible redemption">3,931,719 and <span id="xdx_904_eus-gaap--TemporaryEquitySharesOutstanding_iI_c20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember_zOjJARqk1gV" title="Ordinary shares subject to possible redemption">30,000,000 shares, respectively, were classified outside of permanent equity at December 31, 2023 and 2022. Class A ordinary shares subject to redemption consist of the following: SCHEDULE OF ORDINARY SHARES SUBJECT TO REDEMPTION CONSIST <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Dollars</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Gross proceeds of Public Offering</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zyeyD9ookJm5" style="width: 16%; text-align: right" title="Gross proceeds of Public Offering, Value">300,000,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--WeightedAverageNumberOfSharesIssuedBasic_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zNfjEo2C4NT1" style="width: 16%; text-align: right" title="Gross proceeds of Public Offering, Shares">30,000,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Less: Proceeds allocated to Public Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ProceedsFromIssuanceOfWarrants_iN_di_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zMx85EcLPEvk" style="text-align: right" title="Less: Proceeds allocated to Public Warrants, Value">(14,100,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_ecustom--TemporaryEquityProceedsAllocatedToPublicWarrantsShares_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zMOwqi5LaeY5" style="text-align: right" title="Less: Proceeds allocated to Public Warrants, Shares">—</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Offering costs</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--TemporaryEquityOfferingCosts_iN_di_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_z4CFbDE72Fwd" style="text-align: right" title="Offering costs, Value">(16,254,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--TemporaryEquityOfferingCostsShares_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zmzLKFma2GZ1" style="text-align: right" title="Offering costs, Shares">—</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">Plus: Accretion of carrying value to redemption value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zl7fDbjjMkBh" style="border-bottom: Black 1pt solid; text-align: right" title="Accretion of carrying value to redemption value, Value">30,354,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_98F_ecustom--TemporaryEquityAccretionOfCarryingValueToRedemptionValueShares_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zTcrg1S0n1u9" style="border-bottom: Black 1pt solid; text-align: right" title="Accretion of carrying value to redemption value, Shares">—</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">—Subtotal at inception and at December 31, 2021</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iS_c20220101__20221231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zpodp9WdXTD2" style="text-align: right" title="Balance">300,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--TemporaryEquitySharesOutstanding_iS_c20220101__20221231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zx0vGJO5kfSj" style="text-align: right" title="Balance, shares">30,000,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--PaymentsForRepurchaseOfCommonStock_iN_di_hus-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zMqTkVAQfA0c" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Less: Public Shares redeemed, value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Balance"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Balance, shares"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--PaymentsForRepurchaseOfCommonShares_iS_hus-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zRh3n1GZQ8ih" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Less: Public Shares redeemed, shares </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Balance"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Balance, shares"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 10pt">Accretion of carrying value to redemption value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20220101__20221231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_z0nL1MAQKVul" style="border-bottom: Black 1pt solid; text-align: right" title="Accretion of carrying value to redemption value, Value">4,675,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_987_ecustom--TemporaryEquityAccretionOfCarryingValueToRedemptionValueShares_c20220101__20221231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zTCdNCLAcIY5" style="border-bottom: Black 1pt solid; text-align: right" title="Accretion of carrying value to redemption value, Shares">—</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Class A ordinary shares subject to possible redemption at December 31, 2022</td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iS_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_z3uov6WU85gi" style="text-align: right" title="Balance">304,675,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--TemporaryEquitySharesOutstanding_iS_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zjPGscOo0csl" style="text-align: right" title="Balance, shares">30,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Class A ordinary shares redeemed on January 11, 2023</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--StockRedeemedOrCalledDuringPeriodValue_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zk0yaK9Kq00l" style="text-align: right" title="Class A ordinary shares redeemed, Value">(265,050,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--StockRedeemedOrCalledDuringPeriodShares_iN_di_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zJgYMA8Y4yE4" style="text-align: right" title="Class A ordinary shares redeemed, Shares">(26,068,281</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Accretion of carrying value to redemption value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zuOPaAcyDWs9" style="border-bottom: Black 1pt solid; text-align: right" title="Accretion of carrying value to redemption value, Value">4,079,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_980_ecustom--TemporaryEquityAccretionOfCarryingValueToRedemptionValueShares_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zwHdSeLkhZA" style="border-bottom: Black 1pt solid; text-align: right" title="Accretion of carrying value to redemption value, Shares">—</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Balance at December 31, 2023</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iE_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_znCERyYGJYO8" style="border-bottom: Black 2.5pt double; text-align: right" title="Balance">43,704,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td id="xdx_989_eus-gaap--TemporaryEquitySharesOutstanding_iE_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zJKI6Xaxj5zl" style="border-bottom: Black 2.5pt double; text-align: right" title="Balance, shares">3,931,719</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Subsequent to December 31, 2023, on January 11, 2024, in connection with the 2024 Extension Meeting, holders of <span id="xdx_904_ecustom--RedemptionOfCommonShares_c20240111__20240111__srt--TitleOfIndividualAxis__custom--TwoZeroTwoFourExtensionMeetingMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zpCbXcJJ4uBf" title="Redemption of common shares">2,137,134 Class A ordinary shares exercised their right to redeem their shares for cash at a redemption price of approximately $<span id="xdx_90A_eus-gaap--TemporaryEquityRedemptionPricePerShare_iI_c20240111__srt--TitleOfIndividualAxis__custom--TwoZeroTwoFourExtensionMeetingMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zWuvygiLDdZe" title="Redemption price">11.05 per share, for an aggregate redemption amount of approximately $<span id="xdx_90B_eus-gaap--TemporaryEquityAccretionToRedemptionValueAdjustment_c20240111__20240111__srt--TitleOfIndividualAxis__custom--TwoZeroTwoFourExtensionMeetingMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zqDhzDqq9Lcf" title="Aggregate redemption amount">23,615,331. Further, in 2024 Extension Meeting, the shareholders voted to remove the restriction on maximum redemptions.

30000000

5000001 26068281

10.167

265050000

3931719

30000000

SCHEDULE OF ORDINARY SHARES SUBJECT TO REDEMPTION CONSIST <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Dollars</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Gross proceeds of Public Offering</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zyeyD9ookJm5" style="width: 16%; text-align: right" title="Gross proceeds of Public Offering, Value">300,000,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--WeightedAverageNumberOfSharesIssuedBasic_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zNfjEo2C4NT1" style="width: 16%; text-align: right" title="Gross proceeds of Public Offering, Shares">30,000,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Less: Proceeds allocated to Public Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ProceedsFromIssuanceOfWarrants_iN_di_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zMx85EcLPEvk" style="text-align: right" title="Less: Proceeds allocated to Public Warrants, Value">(14,100,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_ecustom--TemporaryEquityProceedsAllocatedToPublicWarrantsShares_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zMOwqi5LaeY5" style="text-align: right" title="Less: Proceeds allocated to Public Warrants, Shares">—</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Offering costs</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--TemporaryEquityOfferingCosts_iN_di_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_z4CFbDE72Fwd" style="text-align: right" title="Offering costs, Value">(16,254,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--TemporaryEquityOfferingCostsShares_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zmzLKFma2GZ1" style="text-align: right" title="Offering costs, Shares">—</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">Plus: Accretion of carrying value to redemption value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zl7fDbjjMkBh" style="border-bottom: Black 1pt solid; text-align: right" title="Accretion of carrying value to redemption value, Value">30,354,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_98F_ecustom--TemporaryEquityAccretionOfCarryingValueToRedemptionValueShares_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zTcrg1S0n1u9" style="border-bottom: Black 1pt solid; text-align: right" title="Accretion of carrying value to redemption value, Shares">—</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">—Subtotal at inception and at December 31, 2021</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iS_c20220101__20221231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zpodp9WdXTD2" style="text-align: right" title="Balance">300,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--TemporaryEquitySharesOutstanding_iS_c20220101__20221231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zx0vGJO5kfSj" style="text-align: right" title="Balance, shares">30,000,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--PaymentsForRepurchaseOfCommonStock_iN_di_hus-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zMqTkVAQfA0c" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Less: Public Shares redeemed, value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Balance"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Balance, shares"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--PaymentsForRepurchaseOfCommonShares_iS_hus-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zRh3n1GZQ8ih" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Less: Public Shares redeemed, shares </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Balance"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Balance, shares"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 10pt">Accretion of carrying value to redemption value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20220101__20221231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_z0nL1MAQKVul" style="border-bottom: Black 1pt solid; text-align: right" title="Accretion of carrying value to redemption value, Value">4,675,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_987_ecustom--TemporaryEquityAccretionOfCarryingValueToRedemptionValueShares_c20220101__20221231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zTCdNCLAcIY5" style="border-bottom: Black 1pt solid; text-align: right" title="Accretion of carrying value to redemption value, Shares">—</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Class A ordinary shares subject to possible redemption at December 31, 2022</td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iS_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_z3uov6WU85gi" style="text-align: right" title="Balance">304,675,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--TemporaryEquitySharesOutstanding_iS_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zjPGscOo0csl" style="text-align: right" title="Balance, shares">30,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Class A ordinary shares redeemed on January 11, 2023</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--StockRedeemedOrCalledDuringPeriodValue_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zk0yaK9Kq00l" style="text-align: right" title="Class A ordinary shares redeemed, Value">(265,050,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--StockRedeemedOrCalledDuringPeriodShares_iN_di_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zJgYMA8Y4yE4" style="text-align: right" title="Class A ordinary shares redeemed, Shares">(26,068,281</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Accretion of carrying value to redemption value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zuOPaAcyDWs9" style="border-bottom: Black 1pt solid; text-align: right" title="Accretion of carrying value to redemption value, Value">4,079,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_980_ecustom--TemporaryEquityAccretionOfCarryingValueToRedemptionValueShares_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zwHdSeLkhZA" style="border-bottom: Black 1pt solid; text-align: right" title="Accretion of carrying value to redemption value, Shares">—</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Balance at December 31, 2023</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iE_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_znCERyYGJYO8" style="border-bottom: Black 2.5pt double; text-align: right" title="Balance">43,704,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td id="xdx_989_eus-gaap--TemporaryEquitySharesOutstanding_iE_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zJKI6Xaxj5zl" style="border-bottom: Black 2.5pt double; text-align: right" title="Balance, shares">3,931,719</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

300000000

30000000

14100000

16254000

30354000

300000000

30000000

4675000

304675000

30000000

-265050000

26068281

4079000

43704000

3931719

2137134

11.05

23615331

Income Taxes: FASB ASC 740 prescribes a recognition threshold and a measurement attribute for the consolidated balance sheet recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company’s management determined that the Cayman Islands is the Company’s major tax jurisdiction. There were no unrecognized tax benefits as of December 31, 2023 and 2022. The Company recognizes interest and penalties related to unrecognized tax benefits as income tax expense. No amounts were accrued for the payment of interest and penalties at December 31, 2023 or 2022. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company is considered a Cayman Islands exempted company and is presently not subject to income taxes or income tax filing requirements in the Cayman Islands or the United States. As such, the Company’s tax provision was zero for the periods presented. The Company’s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months. Global Partner Acquisition Corp II Notes to Consolidated Financial Statements December 31, 2023

Warrant Liability: The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in FASB ASC 480 and ASC 815, “Derivatives and Hedging” (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own ordinary shares, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding. For issued or modified warrants that meet all of the criteria for equity classification, the warrants are required to be recorded as a component of additional paid-in capital at the time of issuance. For issued or modified warrants that do not meet all the criteria for equity classification, the warrants are required to be recorded as a liability at their initial fair value on the date of issuance, and each consolidated balance sheet date thereafter. Changes in the estimated fair value of the warrants are recognized as a non-cash gain or loss on the consolidated statement of operations. Costs associated with issuing the warrants accounted for as liabilities are charged to operations when the warrants are issued.

Subsequent Events: The Company evaluated subsequent events and transactions that occurred after the date of the consolidated balance sheets through the March 20, 2024 date that the consolidated financial statements were available to be issued and has concluded that all such events that would require adjustment or disclosure in the financial statements have been recognized or disclosed. See above, as well as Notes 1, 4, 5, 7 and 8 regarding actions taken at the 2024 Extension Meeting to extend the date to complete a business combination resulting in a New Termination Date, as well as shareholder redemptions of 2,137,134 Class A ordinary shares for approximately $23,615,000 and non-redemption agreements with holders of 1,503,254 Class A ordinary shares in exchange for the transfer of 127,777 Class B ordinary shares (after conversion to Class A ordinary shares), and the increase in the amount available to the Company under extension promissory notes among other items.

2137134

23615000

1503254

127777

Recent Accounting Pronouncements: In August 2020, the FASB issued Accounting Standards Update (“ASU”) 2020-06, “Debt — Debt with Conversion and Other Options” (Subtopic 470-20) and “Derivatives and Hedging — Contracts in Entity’s Own Equity” (Subtopic 815-40) (“ASU 2020-06”), to simplify accounting for certain financial instruments. ASU 2020-06 eliminates the current models that require separation of beneficial conversion and cash conversion features from convertible instruments and simplifies the derivative scope exception guidance pertaining to equity classification of contracts in an entity’s own equity. The new standard also introduces additional disclosures for convertible debt and freestanding instruments that are indexed to and settled in an entity’s own equity. ASU 2020-06 amends the diluted earnings per share guidance, including the requirement to use the if-converted method for all convertible instruments. ASU 2020-06 is effective January 1, 2024 and should be applied on a full or modified retrospective basis. The Company has adopted this standard for its Extension promissory notes and there is no impact to the consolidated financial statements - related party as further discussed in Note 5. Management does not believe that any other recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s consolidated financial statements.

Note 4 – Public Offering PUBLIC OFFERING On January 14, 2021, the Company consummated the Public Offering and sale of <span id="xdx_903_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20210114__20210114__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zaCTkfRbehHa" title="Share of ordinary share">30,000,000 units at a price of $10.00 per unit (the “Units”). Each Unit consists of one share of the Company’s Class A ordinary shares, one-sixth of one detachable redeemable warrant (the “Detachable Redeemable Warrants”) and the contingent right to receive, in certain circumstances, in connection with the Business Combination, one-sixth of one distributable redeemable warrant for each public share that a public shareholder holds and does not redeem in connection with the Company’s initial Business Combination (the “Distributable Redeemable Warrants,” and together with the Detachable Redeemable Warrants, the “Redeemable Warrants”). Each whole Redeemable Warrant offered in the Public Offering is exercisable to purchase one of the Company’s Class A ordinary shares. Only whole Redeemable Warrants may be exercised. Under the terms of the warrant agreement, the Company has agreed to use its commercially reasonable efforts to file a new registration statement under the Securities Act, following the completion of the Company’s initial Business Combination covering the Class A ordinary shares issuable upon the exercise of warrants. No fractional shares will be issued upon exercise of the Redeemable Warrants. If, upon exercise of the Redeemable Warrants, a holder would be entitled to receive a fractional interest in a share, the Company will, upon exercise, round down to the nearest whole number the number of Class A ordinary shares to be issued to the Redeemable Warrant holder. Each Redeemable Warrant will become exercisable on the later of 30 days after the completion of the Company’s initial Business Combination or 12 months from the closing of the Public Offering and will expire five years after the completion of the Company’s initial Business Combination or earlier upon redemption or liquidation . However, if the Company does not complete its initial Business Combination on or prior to the end of the Revised Combination Period, the Redeemable Warrants will expire at the end of such period. If the Company is unable to deliver registered Class A ordinary shares to the holder upon exercise of a Redeemable Warrant during the exercise period, there will be no net cash settlement of these Redeemable Warrants and the Redeemable Warrants will expire worthless, unless they may be exercised on a cashless basis in the circumstances described in the warrant agreement. Once the Redeemable Warrants become exercisable, the Company may redeem the outstanding Redeemable Warrants in whole and not in part at a price of $0.01 per Warrant upon a minimum of 30 days’ prior written notice of redemption, only in the event that the last sale price of the Class A ordinary shares equals or exceeds $<span id="xdx_909_ecustom--ClassOfWarrantOrRightRedemptionOfWarrantsOrRightsStockPriceTrigger_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zWhRisCAKLi6" title="Stock price trigger for redemption of public warrants">18.00 per share for any 20 trading days within the <span id="xdx_904_ecustom--ClassOfWarrantOrRightExercisableEntityMayRedeemRedemptionCommonStockLastSalePriceConsecutiveTradingDayPeriodDaysNumber_dtD_c20230101__20231231_zGX2BwQ3BBA9" title="Ending trading period">30-trading day period ending on the <span id="xdx_903_ecustom--ThresholdNumberOfBusinessDaysBeforeSendingNoticeOfRedemptionToWarrantHolders_c20230101__20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--RedeemableWarrantMember_zOBDK4vf3Nhj" title="Before the company sending notice period">third trading day before the Company sends the notice of redemption to the Redeemable Warrant holders, and that certain other conditions are met. Once the Redeemable Warrants become exercisable, the Company may also redeem the outstanding Redeemable Warrants in whole and not in part at a price of $<span id="xdx_904_ecustom--ClassOfWarrantOrRightRedemptionPriceOfWarrantsOrRights_iI_c20231231__us-gaap--ClassOfWarrantOrRightAxis__custom--RedeemableWarrantMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zGAm1vqMs9y3" title="Redemption price per public warrant">0.10 per Warrant upon a minimum of 30 days’ prior written notice of redemption, only in the event that the closing price of the Class A ordinary shares equals or exceeds $<span id="xdx_90A_ecustom--ClassOfWarrantOrRightRedemptionOfWarrantsOrRightsStockPriceTrigger_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--WarrantMember_zTG4ZBlEHXN2" title="Stock price trigger for redemption of public warrants">10.00 per share on the trading day prior to the date on which the Company sends the notice of redemption, and that certain other conditions are met. If the closing price of the Class A ordinary shares is less than $<span id="xdx_90F_ecustom--ClassOfWarrantOrRightRedemptionOfWarrantsOrRightsStockPriceTrigger_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--RestatementAxis__srt--RestatementAdjustmentMember_zZobaP61lS34" title="Stock price trigger for redemption of public warrants">18.00 per share (as adjusted) for any 20 trading days within a 30-trading day period ending three trading days before the Company sends the notice of redemption to the warrant holders, the Private Placement Warrants must also concurrently be called for redemption on the same terms as the outstanding public warrants, as described above (the “Public Warrants”). If issued, the Distributable Redeemable Warrants are identical to the Redeemable Warrants and together represent the Public Warrants. The Company had granted the underwriters a <span id="xdx_905_ecustom--UnderwritersOptionPeriodFromDateOfInitialPublicOffering_dtD_c20210114__20210114__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zEzqVqUBHglb" title="Underwriters option period">45-day option to purchase up to 2,500,000 Units to cover any over-allotments, at the Public Offering price less the underwriting discounts and commissions, and such option was exercised in full at the closing of the Public Offering and included in the 30,000,000 Units sold on January 14, 2021. The Company paid an underwriting discount of 2.0% of the per Unit price, $6,000,000, to the underwriters at the closing of the Public Offering, and there is a deferred underwriting fee of 3.5% of the per Unit price, $10,500,000, which is payable upon the completion of the Company’s initial Business Combination. Global Partner Acquisition Corp II Notes to Consolidated Financial Statements December 31, 2023 The shareholders of the Company approved the Extension Amendment Proposal at the extraordinary general meeting (the “Extension Meeting”) and on January 11, 2023, in connection with that vote, the holders of <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_c20230111__20230111__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember_zjKGnkZdjuod">26,068,281 Class A ordinary shares of the Company properly exercised their right to redeem their shares for an aggregate price of approximately $<span id="xdx_905_eus-gaap--TemporaryEquityRedemptionPricePerShare_iI_c20230111__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember_zq5Eq71E2SKa" title="Redemption price">10.167 per share, for an aggregate redemption amount of approximately $265,050,166. In addition, 4,344,714 contingent Distributable Redeemable Warrants will no longer be available to the former holders of the <span id="xdx_904_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_c20230111__20230111__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_zaMbk2uD7xph" title="Ordinary shares exercised">26,068,281 Class A ordinary shares redeemed and so the carrying amount of those warrants, approximately $130,000, was removed from the warrant liabilities on the consolidated balance sheets . Subsequent to December 31, 2023, on January 11, 2024, in connection with the 2024 Extension Meeting, holders of <span id="xdx_903_eus-gaap--StockIssuedDuringPeriodValueStockOptionsExercised_c20240111__20240111__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__srt--TitleOfIndividualAxis__custom--TwoZeroTwoFourExtensionMeetingMember_z8Q5vgLfTJb9" title="Ordinary shares exercised">2,137,134 Class A ordinary shares exercised their right to redeem their shares for cash at a redemption price of approximately $<span id="xdx_902_eus-gaap--TemporaryEquityRedemptionPricePerShare_iI_c20240111__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__srt--TitleOfIndividualAxis__custom--TwoZeroTwoFourExtensionMeetingMember_zWk3BHjCnZn6" title="Ordinary shares subject to possible redemption, per share">11.05 per share, for an aggregate redemption amount of approximately $<span id="xdx_907_eus-gaap--TemporaryEquityAccretionToRedemptionValueAdjustment_c20240111__20240111__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__srt--TitleOfIndividualAxis__custom--TwoZeroTwoFourExtensionMeetingMember_zfIvMLSmWNrk" title="Redemption amount">23,615,331. In addition, 356,189 contingent Distributable Redeemable Warrants will no longer be available to the former holders of the <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_c20240111__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zzBN9cktk4nl" title="Ordinary shares exercise">2,137,134 Class A ordinary shares redeemed and so the carrying amount of those warrants will be removed from the warrant liabilities on the consolidated balance sheets in 2024.

30000000

10.00

P30D

P5Y

0.01 18.00 P20D P30D third 0.10 10.00 18.00 P45D 2500000 30000000 0.020

6000000

0.035 10500000

26068281

10.167

265050166

4344714

26068281

130000

2137134

11.05

23615331

356189

2137134

Note 5 – Related Party Transactions RELATED PARTY TRANSACTIONS Founder Shares: During 2020, the Sponsor purchased <span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20200101__20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FounderSharesMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zAxfE4VffFAa" title="Purchase of ordinary shares">7,187,500 Class B ordinary shares (the “Founder Shares”) for $<span id="xdx_90A_eus-gaap--RelatedPartyTransactionPurchasesFromRelatedParty_c20200101__20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FounderSharesMember_zrsqEgZXI9Ni" title="Related party costs">25,000 (which amount was paid directly for organizational costs and costs of the Public Offering by the Sponsor on behalf of the Company), or approximately $0.003 per share. In January 2021, the Company effected a share capitalization resulting in there being an aggregate of 7,500,000 Founder Shares issued. The Founder Shares are substantially identical to the Class A ordinary shares included in the Units sold in the Public Offering except that the Founder Shares automatically convert into Class A ordinary shares at the time of the initial Business Combination, or at any time prior thereto at the option of the holder, and are subject to certain transfer restrictions, as described in more detail below, and the Founder Shares are subject to vesting as follows: 50% upon the completion of a Business Combination and then 12.5% on each of the attainment of Return to Shareholders (as defined in the agreement) exceeding 20%, 30%, 40% and 50%. Certain events, as defined in the agreement, could trigger an immediate vesting under certain circumstances. Founder Shares that do not vest within an eight-year period from the closing of the Business Combination will be cancelled. The Sponsor agreed to forfeit up to <span id="xdx_901_ecustom--SharesSubjectToForfeiture_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FounderSharesMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zWTbqsusdUyj" title="Shares subject to forfeiture">625,000 Founder Shares to the extent that the over-allotment option was not exercised in full by the underwriters. The underwriters exercised their over-allotment option in full and therefore such shares are no longer subject to forfeiture. In addition to the vesting provisions of the Founder Shares discussed above and in Note 8, the Company’s initial shareholders have agreed not to transfer, assign or sell any of their Founder Shares until the earlier of (A) one year after the completion of the Company’s initial Business Combination, or (B), subsequent to the Company’s initial Business Combination, if (x) the last sale price of the Company’s Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share splits, share dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after the Company’s initial Business Combination or (y) the date on which the Company completes a liquidation, merger, share exchange or other similar transaction after the initial Business Combination that results in all of the Company’s shareholders having the right to exchange their ordinary shares for cash, securities or other property. Global Partner Acquisition Corp II Notes to Consolidated Financial Statements December 31, 2023 Private Placement Warrants: The Sponsor purchased from the Company an aggregate of 5,566,667 warrants at a price of $1.50 per warrant (a purchase price of $8,350,000) in a private placement that occurred simultaneously with the completion of the Public Offering (the “Private Placement Warrants”). Each Private Placement Warrant entitles the holder to purchase one Class A ordinary share at $<span id="xdx_90B_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zvLN4PGPPID6" title="Exercise price">11.50 per share. The purchase price of the Private Placement Warrants was added to the proceeds from the Public Offering, net of expenses of the offering and working capital to be available to the Company, to be held in the Trust Account pending completion of the Company’s initial Business Combination. The Private Placement Warrants (including the Class A ordinary shares issuable upon exercise of the Private Placement Warrants) will not be transferable, assignable or salable until 30 days after the completion of the initial Business Combination and they will be non-redeemable so long as they are held by the Sponsor or its permitted transferees. If the Private Placement Warrants are held by someone other than the Sponsor or its permitted transferees, the Private Placement Warrants will be redeemable by the Company and exercisable by such holders on the same basis as the warrants included in the Units being sold in the Public Offering. Otherwise, the Private Placement Warrants have terms and provisions that are identical to those of the Redeemable Warrants being sold as part of the Units in the Public Offering and have no net cash settlement provisions. If the Company does not complete a Business Combination, then the proceeds from the sale of the Private Placement Warrants will be part of the liquidating distribution from the Trust Account to the public shareholders and the Private Placement Warrants issued to the Sponsor will expire worthless. Registration Rights: The Company’s initial shareholders and the holders of the Private Placement Warrants are entitled to registration rights pursuant to a registration and shareholder rights agreement. These holders will be entitled to make up to three demands, excluding short form registration demands, that the Company registers such securities for sale under the Securities Act. In addition, these holders will have piggyback registration rights to include their securities in other registration statements filed by the Company. The Company will bear the expenses incurred in connection with the filing of any such registration statements. There will be no penalties associated with delays in registering the securities under the registration and shareholder rights agreement. Related Party Loans: Sponsor working capital loans - On August 1, 2022, the Company issued a promissory note (the “August 1, 2022 Note” or “August 1, 2022 Notes payable – related party”) in the principal amount of up to $2,000,000 to its Sponsor. The August 1, 2022 Note was issued in connection with advances the Sponsor may make to the Company for expenses reasonably related to its business and the consummation of the Business Combination. The August 1, 2022 Note bears no interest and is due and payable, as amended in connection with the January 2024 Extension Amendment Proposal, upon the earlier to occur of (i) July 14, 2024 and (ii) the effective date of a merger, capital share exchange, asset acquisition, share purchase, reorganization or similar Business Combination and (iii) the liquidation of the Company. During the year ended December 31, 2023, approximately $30,000 of this loan was repaid. As of December 31, 2023 and 2022, the outstanding principal balance under the August 1, 2022 Note was $755,000 and $785,000, respectively. Global Partner Acquisition Corp II Notes to Consolidated Financial Statements December 31, 2023 Extension promissory notes – related party - On January 3, 2023, the Company issued a promissory note (the “January 3, 2023 Note”) in the principal amount of up to $<span id="xdx_905_eus-gaap--RelatedPartyTransactionAmountsOfTransaction_c20230103__20230103__us-gaap--DebtInstrumentAxis__custom--JanuaryThreeTwoThousandTwentyThreeNoteMember_zwNYabRzW8xc" title="Principal amount">250,000 to its Sponsor. The January 3, 2023 Note was issued in connection with advances the Sponsor may make to the Company for expenses reasonably related to its business and the consummation of the Business Combination. The January 3, 2023 Note bears no interest and is due and payable upon the Business Combination. As of December 31, 2023, no amounts have been drawn down and there was no outstanding principal balance under the January 3, 2023 Note. At the election of the Payee, $250,000 of the unpaid principal amount of the January 3, 2023 Note may be converted into warrants of the Company (“Warrants”), at a price of $<span id="xdx_900_eus-gaap--WarrantExercisePriceDecrease_c20230103__20230103__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember__us-gaap--DebtInstrumentAxis__custom--JanuaryThreeTwoThousandTwentyThreeNoteMember_zoimPduxF0fk" title="Unpaid principal amount">1.50 per warrant, each warrant exercisable for one Class A ordinary share, of the Company. The Warrants shall be identical to the Private Placement Warrants issued to the Sponsor at the time of the Company’s Public Offering. On January 13, 2023, the Company issued a promissory note (the “January 13, 2023 Note” and together with the January 3, 2023 Note, the “Extension promissory notes – related party”) in the principal amount of up to $<span id="xdx_900_eus-gaap--RelatedPartyTransactionAmountsOfTransaction_c20230113__20230113__srt--TitleOfIndividualAxis__custom--JanuaryThirteenTwoThousandTwentyThreeNoteMember_zIH1YLpaPVRj" title="Principal amount">4,000,000, as amended subsequent to December 31, 2023, on February 13, 2024, to its Sponsor. The January 13, 2023 Note was issued in connection with advances the Sponsor may make to the Company for contributions to the Trust Account in connection with the Extension and other expenses reasonably related to its business and the consummation of the Business Combination. The January 13, 2023 Note bears no interest and is due and payable upon the Business Combination. At the election of the Payee, up to $1,750,000 of the January 13, 2023 Note may be converted, at the option of the lender, into Warrants, at a price of $1.50 per warrant, each warrant exercisable for one Class A ordinary share of the Company. The Warrants shall be identical to the Private Placement Warrants issued to the Sponsor at the time of the Public Offering. During the year ended December 31, 2023, the Company made drawdowns aggregating approximately $<span id="xdx_903_eus-gaap--PaymentsForProceedsFromDepositOnLoan_c20230101__20231231__us-gaap--DebtInstrumentAxis__custom--JanuaryThirteenTwoThousandTwentyThreeNoteMember_zeo6l6tTiAD9" title="Drawdowns amount">2,726,000 under the January 13, 2023 Note in order to pay extension payments and for working capital. The Company records such notes at par value and believes that the fair value of the conversion feature is not material based upon the trading price of the similarly termed Public Warrants. At December 31, 2023 and 2022, the outstanding principal balance under the note was approximately $<span id="xdx_906_eus-gaap--InvestmentOwnedBalancePrincipalAmount_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zNfM7xIWfpWe" title="Outstanding principal balance">2,726,000 and $<span id="xdx_90C_eus-gaap--InvestmentOwnedBalancePrincipalAmount_iI_c20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zqTAP2yKE8hb" title="Outstanding principal balance">0, respectively. Subsequent to December 31, 2023 the Company borrowed approximately $395,000 to fund working capital. Administrative Services Agreement: The Company has agreed to pay $25,000 a month to the Sponsor for office space and rent and for the services to be provided by one or more investment professionals, creation and maintenance of the Company’s website, and miscellaneous additional services. Services commenced on the date the securities are first listed on Nasdaq Capital and will terminate upon the earlier of the consummation by the Company of an initial Business Combination or the liquidation of the Company. Approximately $300,000 was charged to general and administrative expenses during both periods ended December 31, 2023 and 2022 for this agreement. There were amounts of approximately $275,000 and $0 included in accrued liabilities at December 31, 2023 and 2022, respectively.

7187500

25000

0.003

7500000 The Founder Shares are substantially identical to the Class A ordinary shares included in the Units sold in the Public Offering except that the Founder Shares automatically convert into Class A ordinary shares at the time of the initial Business Combination, or at any time prior thereto at the option of the holder, and are subject to certain transfer restrictions, as described in more detail below, and the Founder Shares are subject to vesting as follows: 50% upon the completion of a Business Combination and then 12.5% on each of the attainment of Return to Shareholders (as defined in the agreement) exceeding 20%, 30%, 40% and 50%. Certain events, as defined in the agreement, could trigger an immediate vesting under certain circumstances. Founder Shares that do not vest within an eight-year period from the closing of the Business Combination will be cancelled. 625000

12.00

5566667

1.50

8350000

11.50

2000000

30000

755000

785000

250000

1.50

4000000

1750000

1.50

2726000

395000

25000

300000

275000

Note 6 – Accounting for Warrant Liability ACCOUNTING FOR WARRANT LIABILITY At December 31, 2023 and 2022, there were 11,221,954 and 15,566,667 warrants, respectively, outstanding including 5,655,286 Public Warrants and 5,566,667 Private Placement Warrants outstanding at December 31, 2023 and 10,000,000 Public Warrants and 5,566,667 Private Placement Warrants outstanding at December 31, 2022. 4,344,714 contingent redeemable warrants that would have been exercisable by the former holders of the 26,068,281 Class A ordinary shares redeemed in January 2023 are no longer available for exercise. The Company’s warrants are not indexed to the Company’s ordinary shares in the manner contemplated by ASC Section 815-40-15 because the holder of the instrument is not an input into the pricing of a fixed-for-fixed option on equity shares. As such, the Company’s warrants are accounted for as warrant liabilities which are required to be valued at fair value at each reporting period. Global Partner Acquisition Corp II Notes to Consolidated Financial Statements December 31, 2023 The following tables present information about the Company’s warrant liabilities that are measured at fair value on a recurring basis at December 31, 2023 and 2022 and indicate the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value: SCHEDULE OF WARRANT LIABILITIES THAT ARE MEASURED AT FAIR VALUE ON A RECURRING BASIS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Description</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20231231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zrjVMxMoN1Sb" style="border-bottom: Black 1pt solid; text-align: center">At December 31, 2023</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20231231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zN9mqwjwuXQd" style="border-bottom: Black 1pt solid; text-align: center">Quoted Prices in Active Markets (Level 1)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20231231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z9LMPdricclj" style="border-bottom: Black 1pt solid; text-align: center">Significant Other Observable Inputs (Level 2)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20231231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zUMPoeLBLUR2" style="border-bottom: Black 1pt solid; text-align: center">Significant Other Unobservable Inputs (Level 3)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-decoration: underline; text-align: left">Warrant Liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--WarrantsAndRightsOutstanding_iI_hus-gaap--SubsidiarySaleOfStockAxis__custom--PublicWarrantsMember_zMozfTIwmY1" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 40%; text-align: left">Public Warrants</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">150,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">150,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--WarrantsAndRightsOutstanding_iI_hus-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zrRL7xfT3n02" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 10pt; text-align: left">Private Placement Warrants</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">187,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">187,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--WarrantsAndRightsOutstanding_iI_zj8b3Qaq4wSb" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; padding-left: 20pt">Warrant liability at December 31, 2023</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">337,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">150,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">187,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"> —</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Description</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20221231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zMEMGGgPvuL8" style="border-bottom: Black 1pt solid; text-align: center">At December 31, 2022</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20221231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zfXJFd1Eouk4" style="border-bottom: Black 1pt solid; text-align: center">Quoted Prices in Active Markets (Level 1)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20221231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zwdWuoWOtfTe" style="border-bottom: Black 1pt solid; text-align: center">Significant Other Observable Inputs (Level 2)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20221231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zMmQjQtqqfwc" style="border-bottom: Black 1pt solid; text-align: center">Significant Other Unobservable Inputs (Level 3)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-decoration: underline; text-align: left">Warrant Liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--WarrantsAndRightsOutstanding_iI_hus-gaap--SubsidiarySaleOfStockAxis__custom--PublicWarrantsMember_zmjtbEMPZBZf" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 40%; text-align: left">Public Warrants</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">300,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">300,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--WarrantsAndRightsOutstanding_iI_hus-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zSY1RLp3rTk5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 10pt; text-align: left">Private Placement Warrants</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">167,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">167,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> —</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--WarrantsAndRightsOutstanding_iI_z7j8hME6jdhe" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; padding-left: 20pt">Warrant liability at December 31, 2022</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">467,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">300,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">167,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--WarrantsAndRightsOutstanding_iI_zxWmsxtIWhg3" style="display: none; vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; padding-left: 20pt">Warrant liability</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">467,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">300,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">167,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> At December 31, 2022 and 2023, the Company valued its (a) Public Warrants based on the closing price at December 31, 2023 and 2022, respectively, in an active market and (b) Private Placement Warrants based on the closing price of the Public Warrants since they are similar instruments. The warrant liabilities are not subject to qualified hedge accounting. See also Note 4 regarding contingent warrants forfeited subsequent to December 31, 2023.

11221954

15566667

5655286

5566667

10000000

5566667

4344714 26068281

The following tables present information about the Company’s warrant liabilities that are measured at fair value on a recurring basis at December 31, 2023 and 2022 and indicate the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value: SCHEDULE OF WARRANT LIABILITIES THAT ARE MEASURED AT FAIR VALUE ON A RECURRING BASIS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Description</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20231231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zrjVMxMoN1Sb" style="border-bottom: Black 1pt solid; text-align: center">At December 31, 2023</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20231231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zN9mqwjwuXQd" style="border-bottom: Black 1pt solid; text-align: center">Quoted Prices in Active Markets (Level 1)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20231231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z9LMPdricclj" style="border-bottom: Black 1pt solid; text-align: center">Significant Other Observable Inputs (Level 2)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20231231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zUMPoeLBLUR2" style="border-bottom: Black 1pt solid; text-align: center">Significant Other Unobservable Inputs (Level 3)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-decoration: underline; text-align: left">Warrant Liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--WarrantsAndRightsOutstanding_iI_hus-gaap--SubsidiarySaleOfStockAxis__custom--PublicWarrantsMember_zMozfTIwmY1" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 40%; text-align: left">Public Warrants</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">150,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">150,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--WarrantsAndRightsOutstanding_iI_hus-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zrRL7xfT3n02" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 10pt; text-align: left">Private Placement Warrants</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">187,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">187,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--WarrantsAndRightsOutstanding_iI_zj8b3Qaq4wSb" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; padding-left: 20pt">Warrant liability at December 31, 2023</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">337,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">150,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">187,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"> —</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Description</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20221231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zMEMGGgPvuL8" style="border-bottom: Black 1pt solid; text-align: center">At December 31, 2022</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20221231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zfXJFd1Eouk4" style="border-bottom: Black 1pt solid; text-align: center">Quoted Prices in Active Markets (Level 1)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20221231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zwdWuoWOtfTe" style="border-bottom: Black 1pt solid; text-align: center">Significant Other Observable Inputs (Level 2)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20221231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zMmQjQtqqfwc" style="border-bottom: Black 1pt solid; text-align: center">Significant Other Unobservable Inputs (Level 3)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-decoration: underline; text-align: left">Warrant Liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--WarrantsAndRightsOutstanding_iI_hus-gaap--SubsidiarySaleOfStockAxis__custom--PublicWarrantsMember_zmjtbEMPZBZf" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 40%; text-align: left">Public Warrants</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">300,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">300,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--WarrantsAndRightsOutstanding_iI_hus-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zSY1RLp3rTk5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 10pt; text-align: left">Private Placement Warrants</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">167,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">167,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> —</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--WarrantsAndRightsOutstanding_iI_z7j8hME6jdhe" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; padding-left: 20pt">Warrant liability at December 31, 2022</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">467,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">300,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">167,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--WarrantsAndRightsOutstanding_iI_zxWmsxtIWhg3" style="display: none; vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; padding-left: 20pt">Warrant liability</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">467,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">300,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">167,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

150000

187000

337000

150000

187000

300000

167000

467000

300000

167000

467000

300000

167000

Note 7 – Trust Account and Fair Value Measurement FAIR VALUE MEASUREMENTS The Company complies with FASB ASC 820 for its financial assets and liabilities that are re-measured and reported at fair value at each reporting period, and non-financial assets and liabilities that are re-measured and reported at fair value at least annually. Upon the closing of the Public Offering and the private placement, a total of $300,000,000 was deposited into the Trust Account. On January 11, 2023, shareholders redeemed 26,068,281 Class A ordinary shares at $<span id="xdx_90C_eus-gaap--TemporaryEquityRedemptionPricePerShare_iI_c20230111__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zpERuf5xnkMg" title="Redemption price">10.16 per share, approximately $265,050,000, from the Trust Account and from Class A ordinary shares subject to redemption as further discussed in these notes to consolidated financial statements. Subsequent to December 31, 2023, on January 9, 2024, in connection with the 2024 Extension Meeting, holders of <span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodValueStockOptionsExercised_c20240109__20240109__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zV3STjoRLaih" title="Ordinary shares exercised">2,137,134 Class A ordinary shares exercised their right to redeem their shares for cash at a redemption price of approximately $<span id="xdx_901_eus-gaap--TemporaryEquityRedemptionPricePerShare_iI_c20240109__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zFFngtw2JqO8" title="Redemption price">11.05 per share, for an aggregate redemption amount of approximately $<span id="xdx_903_eus-gaap--TemporaryEquityAccretionToRedemptionValueAdjustment_c20240109__20240109__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zSLS0OmkCsB2" title="Redemption amount">23,615,331. Global Partner Acquisition Corp II Notes to Consolidated Financial Statements December 31, 2023 The Company classifies its U.S. government treasury bills and equivalent securities (when it owns them) as held to maturity in accordance with FASB ASC 320, “Investments – Debt and Equity Securities.” Held-to-maturity securities are those securities which the Company has the ability and intent to hold until maturity. Money market funds are valued at market. The funds in the Trust Account were held in an interest-bearing cash account at December 31, 2023. The following table presents information about the Company’s assets that are measured at fair value on a recurring basis as of December 31, 2022 and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value. Since all of the Company’s permitted investments at December 31, 2022 consisted of money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act of 1940, fair values of its investments are determined by Level 1 inputs utilizing quoted prices (unadjusted) in active markets for identical assets or liabilities as follows: <p id="xdx_89A_eus-gaap--FairValueAssetsMeasuredOnRecurringAndNonrecurringBasisTableTextBlock_zyOYVmd8jH9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; background-color: white">SCHEDULE OF ASSETS THAT ARE MEASURED AT FAIR VALUE ON A RECURRING BASIS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Description</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20221231__us-gaap--FinancialInstrumentAxis__custom--CarryingValueMember_znrZkR0RbFq9" style="border-bottom: Black 1pt solid; text-align: center">Carrying Value at December 31, 2022</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20221231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zL6He7TTZRR8" style="border-bottom: Black 1pt solid; text-align: center">Quoted Price in Active Markets (Level 1)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--MarketableSecuritiesNoncurrent_iI_hus-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember_zu5aBRQWwuqg" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1pt; width: 60%">Money Market Fund</td><td style="padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">304,675,000</td><td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">304,675,000</td><td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--MarketableSecuritiesNoncurrent_iI_z4vfSe2aKQKa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">304,675,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">304,675,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

300000000

26068281

10.16

265050000

2137134

11.05

23615331

<p id="xdx_89A_eus-gaap--FairValueAssetsMeasuredOnRecurringAndNonrecurringBasisTableTextBlock_zyOYVmd8jH9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; background-color: white">SCHEDULE OF ASSETS THAT ARE MEASURED AT FAIR VALUE ON A RECURRING BASIS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Description</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20221231__us-gaap--FinancialInstrumentAxis__custom--CarryingValueMember_znrZkR0RbFq9" style="border-bottom: Black 1pt solid; text-align: center">Carrying Value at December 31, 2022</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20221231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zL6He7TTZRR8" style="border-bottom: Black 1pt solid; text-align: center">Quoted Price in Active Markets (Level 1)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--MarketableSecuritiesNoncurrent_iI_hus-gaap--CashAndCashEquivalentsAxis__us-gaap--MoneyMarketFundsMember_zu5aBRQWwuqg" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1pt; width: 60%">Money Market Fund</td><td style="padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">304,675,000</td><td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">304,675,000</td><td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--MarketableSecuritiesNoncurrent_iI_z4vfSe2aKQKa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">304,675,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">304,675,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

304675000

Note 8 – Shareholders’ Deficit COMMON STOCK Ordinary Shares: The authorized ordinary shares of the Company include 500,000,000 Class A ordinary shares and 50,000,000 Class B ordinary shares or 550,000,000 ordinary shares in total. The Company may (depending on the terms of the Business Combination) be required to increase the authorized number of shares at the same time as its shareholders vote on the Business Combination to the extent the Company seeks shareholder approval in connection with its Business Combination. Except with respect to matters pertaining to directors prior to the Business Combination, holders of the Company’s Class A ordinary shares and Class B ordinary shares vote together as a single class and are entitled to one vote for each Class A ordinary shares and Class B ordinary shares. <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationDescriptionAndTerms_c20230101__20231231__us-gaap--BusinessAcquisitionAxis__us-gaap--SeriesOfIndividuallyImmaterialBusinessAcquisitionsMember_zBnPpkfXHqT" title="Shares holders term description">The Founder Shares are subject to vesting as follows: 50% upon the completion of a Business Combination and then an additional 12.5% on the attainment of each of a series of certain “shareholder return” targets exceeding 20%, 30%, 40% and 50%, as further defined in the agreement. Certain events, as defined in the agreement, could trigger an immediate vesting under certain circumstances. Founder Shares that do not vest within an eight-year period from the closing of the Business Combination will be cancelled. At December 31, 2023 and 2022, there were 7,500,000 Class B ordinary shares issued and outstanding, and 0 and 0 Class A ordinary shares issued and outstanding (after deducting 3,931,719 and 30,000,000, respectively, Class A ordinary shares subject to possible redemption at December 31, 2023 and 2022). Subsequent to December 31, 2023, on January 11, 2024, in connection with the 2024 Extension Meeting, holders of <span id="xdx_908_eus-gaap--StockIssuedDuringPeriodValueStockOptionsExercised_c20240111__20240111__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__srt--TitleOfIndividualAxis__custom--TwoZeroTwoFourExtensionMeetingMember_zweEsNwnIbQ4" title="Ordinary shares exercised">2,137,134 Class A ordinary shares exercised their right to redeem their shares for cash at a redemption price of approximately $<span id="xdx_908_eus-gaap--TemporaryEquityRedemptionPricePerShare_iI_c20240111__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__srt--TitleOfIndividualAxis__custom--TwoZeroTwoFourExtensionMeetingMember_zpR88mjeIhn7" title="Redemption price">11.05 per share, for an aggregate redemption amount of approximately $<span id="xdx_902_eus-gaap--TemporaryEquityAccretionToRedemptionValueAdjustment_c20240111__20240111__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__srt--TitleOfIndividualAxis__custom--TwoZeroTwoFourExtensionMeetingMember_zmLZQMuiNsZj" title="Redemption amount">23,615,331. Also subsequent to December 31, 2023 and in connection with the 2024 Extension Agreement, as discussed in Note 1, the Company entered into non-redemption agreements with holders of 1,503,254 Class A ordinary shares in exchange for the transfer of 127,777 Class B ordinary shares (after conversion to Class A ordinary shares), among other items. Global Partner Acquisition Corp II Notes to Consolidated Financial Statements December 31, 2023 Preference Shares: The Company is authorized to issue 5,000,000 preference shares, par value $0.0001 (the “Preference shares”), with such designations, voting and other rights and preferences as may be determined from time to time by the Company’s board of directors. At December 31, 2023 and 2022, there were no Preference shares issued or outstanding.

500000000

50000000

550000000

The Founder Shares are subject to vesting as follows: 50% upon the completion of a Business Combination and then an additional 12.5% on the attainment of each of a series of certain “shareholder return” targets exceeding 20%, 30%, 40% and 50%, as further defined in the agreement. Certain events, as defined in the agreement, could trigger an immediate vesting under certain circumstances. Founder Shares that do not vest within an eight-year period from the closing of the Business Combination will be cancelled.

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5000000

0.0001

Note 9 – Commitments and Contingencies COMMITMENTS AND CONTINGENCIES Business Combination Costs: In connection with identifying an initial Business Combination candidate and negotiating an initial Business Combination, the Company has entered into, and may enter into additional, engagement letters or agreements with various consultants, advisors, professionals and others. The services under these engagement letters and agreements are material in amount and in some instances include contingent or success fees. Contingent or success fees (but not deferred underwriting commission) would be charged to operations in the quarter that an initial Business Combination is consummated. In most instances (except with respect to the Company’s independent registered public accounting firm), these engagement letters and agreements are expected to specifically provide that such counterparties waive their rights to seek repayment from the funds in the Trust Account. Risks and Uncertainties: Bank Closures — Management acknowledges that the Company depends on a variety of U.S. and multi-national financial institutions for banking services. Market conditions can impact the viability of these institutions, which in effect will affect the Company’s ability to maintain and provide assurances that it can access its cash and cash equivalents in a timely manner or at all. Any inability to access or delay in accessing these funds could adversely affect the Company’s liquidity, business and financial condition. Ongoing Conflicts — The impact of ongoing and evolving military conflicts, including the invasion of Ukraine by Russia and the Israel-Hamas war, and economic sanctions and countermeasures on domestic and global economic and geopolitical conditions in general is not determinable as of the date of these consolidated financial statements.

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100000

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1569000 -74000

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<p id="xdx_801_eus-gaap--OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_zsXaEGtDwRn2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">Note 1 – Description of Organization and Business Operations DESCRIPTION OF THE COMPANY Stardust Power Inc. formerly known as Global Partner Acquisition Corp II was incorporated under the laws of the Cayman Islands as an exempted company on November 3, 2020. Together with its wholly owned subsidiaries First Merger Sub and Second Merger Sub, both incorporated or formed in Delaware in November 2023, the Company was formed for the purpose of effecting a merger, capital share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act of 1933, as amended, or the “Securities Act,” as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Domestication and Mergers As previously announced, GPAC II, a Cayman Islands exempted company, entered into that certain Business Combination Agreement pursuant to which on July 8, 2024 (the “Closing Date”), prior to the consummation of the Mergers (as defined below) contemplated by the Business Combination Agreement, and upon receipt of Supermajority Acquiror Shareholder Approval (as defined therein), GPAC II domesticated as a Delaware corporation (the “Domestication”) in accordance with Section 388 of the Delaware General Corporation Law and Sections 206 to 209 of the Companies Act (As Revised) of the Cayman Islands. Prior to the Domestication, each GPAC II Class B ordinary share, par value $<span id="xdx_90F_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--BusinessAcquisitionAxis__custom--GlobalPartnerAcquisitionCorpIIMember_z3eDbWK1YSZb">0.0001 per share (the “Class B Ordinary Share”), outstanding was converted into one (1) GPAC II Class A ordinary share, par value $<span id="xdx_902_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--BusinessAcquisitionAxis__custom--GlobalPartnerAcquisitionCorpIIMember_zCRjBcvP6Dr2">0.0001 per share (the “Class A Ordinary Share” or “Public Share,” and together with Class B Ordinary Shares, the “GPAC II Ordinary Shares”), in accordance with GPAC II’s amended and restated memorandum and articles of association (the “Articles of Association”) and as set forth in the Sponsor Letter Agreement, dated as of January 11, 2021, as amended by that certain Letter Agreement Amendment, dated as of January 13, 2023, by and among Global Partner Sponsor II, LLC (the “Sponsor”), GPAC II, and GPAC II executive officers and directors (the “Class B Ordinary Share conversion”). In connection with the Domestication, (i) each Class A Ordinary Share outstanding immediately prior to the effective time of the Domestication and following the Class B Ordinary Share conversion was converted into one share of GPAC II common stock, par value $<span id="xdx_905_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__us-gaap--BusinessAcquisitionAxis__custom--GlobalPartnerAcquisitionCorpIIMember_z5xukMGOrEo4">0.0001 per share (the “GPAC II Common Stock”) and (ii) each then-issued and outstanding whole warrant exercisable for one Class A Ordinary Share was converted into a warrant exercisable for one share of GPAC II Common Stock at an exercise price of $<span id="xdx_90E_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20240630__us-gaap--BusinessAcquisitionAxis__custom--GlobalPartnerAcquisitionCorpIIMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zt8M5WUfUtHc">11.50 per share on the terms and conditions set forth in the Warrant Agreement, dated as of January 11, 2021, by and between GPAC II and Continental Stock Transfer & Trust Company, as warrant agent (as amended or amended and restated from time to time). In connection with clauses (i) and (ii) of this paragraph, each issued and outstanding unit of GPAC II that has not been previously separated into the underlying Class A Ordinary Shares and the underlying GPAC II warrants was cancelled, entitling the holder thereof to one share of GPAC II Common Stock and one-sixth of one GPAC II warrant. The Business Combination Agreement provided for, among other things, the following, all of which occurred on July 8, 2024: (i) the Domestication, (ii) following the Domestication, First Merger Sub merged with and into Stardust Power, with Stardust Power being the surviving company (also referred to herein as the “Combined Company”) in the merger (the “First Merger”) and, (iii) immediately following the First Merger, and as part of the same overall transaction as the First Merger, Stardust Power merged with and into Second Merger Sub (the “Second Merger” and, together with the First Merger, the “Mergers”), with Merger Sub II being the surviving company of the Second Merger (Merger Sub II, in its capacity as the surviving company of the Second Merger, the “Surviving Company”), and as a result of which the Surviving Company became a wholly-owned subsidiary of GPAC II. At Closing, (i) the Sponsor forfeited an aggregate of <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesShareBasedCompensationForfeited_c20240101__20240630__us-gaap--BusinessAcquisitionAxis__custom--GlobalPartnerAcquisitionCorpIIMember__srt--TitleOfIndividualAxis__custom--SponserMember_zTCOHfIWhdjj">3,500,000 GPAC II Ordinary Shares, (ii) reissued <span id="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240101__20240630__us-gaap--BusinessAcquisitionAxis__custom--GlobalPartnerAcquisitionCorpIIMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zaMgtURYMBXl">127,777 GPAC II Ordinary Shares as Class A Ordinary Shares to certain GPAC II investors who agreed not to redeem their respective shares of Class A Ordinary Shares in connection with GPAC II’s extraordinary general meeting of shareholders held on January 9, 2024, (iii) issued <span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240101__20240630__us-gaap--BusinessAcquisitionAxis__custom--GlobalPartnerAcquisitionCorpIIMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--TypeOfArrangementAxis__custom--PIPESubscriptionAgreementsMember_zd7uj75sQqIg">1,077,541 shares of GPAC II Common Stock to a large institutional investor and two other investors (the “PIPE Investors”) pursuant to subscription agreements that were entered into on June 20, 2024 (the “PIPE Subscription Agreements”), and (iv) GPAC II changed its name to “Stardust Power Inc.” Following Closing, Common Stock, par value $0.0001 per share (“Combined Company Common Stock”), and warrants (the “Warrants”) trade on the Nasdaq Global Market (“Nasdaq”) under the new symbols “SDST” and “SDSTW,” respectively. At Closing, in connection with the Transactions, GPAC II and certain holders of Combined Company Common Stock (as defined below) (the “Stardust Power Stockholders”) entered into a Stockholder Agreement, a Registration Rights Agreement and a Lock-Up Agreement, each in form and in substance that became effective upon the Closing. In accordance with the terms and subject to the conditions of the Business Combination Agreement, each share of Common Stock (including Common Stock issued in connection with the Stardust Power SAFE Conversion), issued and outstanding immediately prior to the First Effective Time other than any Cancelled Shares and Dissenting Shares were converted into the right to receive the applicable Per Share Consideration. The total consideration paid at Closing to the selling parties in connection with the Business Combination Agreement was based on an enterprise value of $447,500,000 (excluding a $50 million earnout, based upon an assumed price of $10 per share, payable upon achievement of certain milestones), subject to certain adjustments as set forth in the Business Combination Agreement, including with respect to certain transaction expenses and the cash and debt of Stardust Power. In accordance with the terms and subject to the conditions of the Business Combination Agreement, (i) each outstanding Company Option (as defined in the Business Combination Agreement), whether vested or unvested, has converted into an option to purchase a number of shares of GPAC II Common Stock equal to the number of shares of GPAC II Common Stock subject to such Company Option immediately prior to the First Effective Time multiplied by the Per Share Consideration at an exercise price per share equal to the exercise price per share of Common Stock divided by the Per Share Consideration, subject to certain adjustments and (ii) each share of Company Restricted Stock (as defined in the Business Combination Agreement) outstanding immediately prior to the First Effective Time has converted into a number of shares of GPAC II Common Stock equal to the number of shares of Common Stock subject to such Company Restricted Stock multiplied by the Per Share Consideration. Except as provided in the Business Combination Agreement, the terms and conditions (including vesting and exercisability terms, as applicable) have continued after Closing as were applicable to the corresponding former Company Option and Company Restricted Stock, as applicable, immediately prior to the First Effective Time. The accompanying unaudited condensed consolidated financial statements reflect the accounts and activities of only GPAC II, First Merger Sub, and Second Merger Sub, as of June 30, 2024, prior to the closing date. All dollar amounts are rounded to the nearest thousand dollars. Business Prior to the Business Combination Prior to the Business Combination, GPAC II had two wholly owned subsidiaries which were formed on November 3, 2020, First Merger Sub and Second Merger Sub. All activity for the period from November 3, 2020 (inception) through June 30, 2024 relates to the Company’s formation, the initial public offering (“Initial Public Offering”), which is described below, identifying a target company for a Business Combination and consummating the acquisition of Stardust Power. The Company did not generate any operating revenues prior to completing its Business Combination. During the fiscal quarter, the Company generated non-operating income in the form of interest income from the proceeds derived from the Public Offering. In January 2023, the shareholders of the Company (the “shareholders”) took various actions and the Company entered into various agreements resulting in a change of control of the Company, redemption of approximately 87% of its Class A Ordinary Shares, an extension of the date to complete a Business Combination and certain additional financing and other matters as discussed in further detail in the Form 10-K Annual Report filed on March 19, 2024 (the “Form 10-K”), the amended report on Form 10-K/A filed on April 22, 2024 amending the Form 10-K (the “Form 10-K/A”, and together with Form 10-K, the “Annual Report”), and the Form 8-K filed with the Securities and Exchange Commission (the “SEC”) on January 18, 2023. On January 9, 2024, in connection with the 2024 Extension Meeting (as defined below), there was a further extension of the date to complete a business combination resulting in a new date upon which the Company must complete a Business Combination (the “New Termination Date”), as well as shareholder redemptions of <span id="xdx_90D_eus-gaap--TemporaryEquitySharesOutstanding_iI_pid_c20240109__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zPJGqee8YEJf" title="Ordinary shares subject to possible redemption">2,137,134 Class A Ordinary Shares for approximately $<span id="xdx_90A_eus-gaap--TemporaryEquityAggregateAmountOfRedemptionRequirement_iI_pid_c20240109__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z6Q1eXsET9E4" title="Amount of shareholder redemptions value">23,615,000 and non redemption agreements with holders of 1,503,254 Class A Ordinary Shares in exchange for the transfer of 127,777 Class B ordinary shares, par value $0.0001 per share (the “Class B Ordinary Shares” and together with Class A Ordinary Shares, the “Ordinary Shares”), following the conversion of 7,400,000 Class B Ordinary Shares into Class A Ordinary Shares, and the increase in the amount available to the Company under the extension promissory notes among other items, as discussed in various notes below regarding the 2024 Extension Meeting and as described in the Form 8-K filed with the SEC on January 16, 2024 and April 8, 2024. On April 5, 2024, the Sponsor converted 7,400,000 Class B Ordinary Shares into Class A Ordinary Shares, on a one-for-one basis. The Sponsor waived any right to receive funds from the Company’s Trust Account with respect to the Class A Ordinary Shares received upon such conversion and acknowledged that such shares will be subject to all of the restrictions applicable to the Class B Ordinary Shares under the terms of that certain letter agreement, dated as of January 11, 2021, by and among the Company and its officers, its directors and the Sponsor (as amended). Following the conversion, the Company had a total of 9,194,585 Class A Ordinary Shares and 100,000 Class B Ordinary Shares outstanding. On April 24, 2024, the Company, First Merger Sub, Second Merger Sub, and Stardust Power, entered into Amendment No. 1 (the “Amendment”) to that certain Business Combination Agreement, dated November 21, 2023, (as it may be amended, supplemented or otherwise modified from time to time in accordance with its terms, the “Business Combination Agreement”), to, among other things, (i) amend the definition of “Equity Value” and (ii) amend the definition of “Alternative Financing.” Other than the terms of the Amendment, all the terms, covenants, agreements, and conditions of the Business Combination Agreement remain in full force and effect in accordance with its original terms. On May 24, 2024, GPAC II filed a definitive proxy statement/prospectus (the “Definitive Proxy Statement”) for the solicitation of proxies in connection with a special meeting (the “Special Meeting”) of GPAC II shareholders, to vote upon, among other things, a proposal to adopt and approve that certain Business Combination Agreement. On June 20, 2024, GPAC II, First Merger Sub, Second Merger Sub, and Stardust Power entered into Amendment No. 2 to the Business Combination Agreement to (i) amend the definition of “Sponsor Loans Settlement” to provide that Global Partner Sponsor II LLC shall waive any entitlement to the <span id="xdx_90E_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20240620__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--BusinessAcquisitionAxis__custom--GlobalPartnerSponsorIILLCMember_zInZzbI36NJf" title="Warrants outstanding">1,709,570 additional private placement warrants it would otherwise be entitled to with respect to the conversion of the $2,564,355 of Sponsor Loans incurred prior to October 3, 2023 and (ii) amend the definition of “Enterprise Value” to mean $<span id="xdx_908_eus-gaap--BusinessCombinationAssetsArisingFromContingenciesAmountRecognized_iI_pn5n6_c20240620__us-gaap--BusinessAcquisitionAxis__custom--GlobalPartnerSponsorIILLCMember_zJzgVhHFsTri" title="Enterprise value">447.5 million, which reflects a $2,500,000 reduction from the prior value. Other than the terms of Amendment No. 2, all of the terms, covenants, agreements, and conditions of the Business Combination Agreement remained in full force and effect in accordance with its original terms. Additionally, on June 20, 2024, GPAC II entered into PIPE Subscription Agreements with PIPE Investors pursuant to which the PIPE Investors agreed to purchase in a private placement, 1,077,541 shares of GPAC II common stock at a price of $9.35 per share, for an aggregate commitment amount of $10,075,000 (the “PIPE Investment”). The PIPE Subscription Agreements provided, among other things, that the PIPE Investment were conditioned upon the consummation of the transactions contemplated by the Business Combination Agreement. In connection with the negotiation of the PIPE Subscription Agreement, GPAC II and Stardust Power did not intend to draw down in excess of $<span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pn6n6_c20240620__20240620__srt--TitleOfIndividualAxis__custom--PIPESubscriptionAgreementsMember__us-gaap--BusinessAcquisitionAxis__custom--GlobalPartnerAcquisitionCorpIIMember_zS2T6eNjtphe" title="Private placement, value">3 million, if at all, on the commitments under the existing Financing Commitment and Equity Line of Credit Agreement between Stardust Power and the large institutional investor in the PIPE Investment, which provided Stardust Power an option to issue additional Common Stock to such investor. The purpose of the PIPE Investment was to raise additional capital for use by the Company following the consummation of the transactions contemplated by the Business Combination. On June 27, 2024, the Company held its Special Meeting where, among other things, the proposal to adopt that certain Business Combination Agreement was approved. Trust Account: The funds in the Trust Account can only be invested in cash or U.S. government treasury bills with a maturity of one hundred and eighty-five (185) days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act of 1940. On January 11, 2023, the Company liquidated the U.S. government treasury obligations or money market funds held in the Trust Account. Funds will remain in the Trust Account until the earlier of (i) the consummation of its initial Business Combination or (ii) the distribution of the Trust Account as described below. The remaining funds outside the Trust Account may be used to pay for business, legal and accounting due diligence on prospective acquisition targets, legal and accounting fees related to regulatory reporting obligations, payment for services of investment professionals and support services, continued listing fees and continuing general and administrative expenses. The Company’s amended and restated memorandum and articles of association provided that, other than the withdrawal of interest to pay tax obligations, if any, less up to $100,000 of interest to pay dissolution expenses, none of the funds held in trust will be released until the earliest of (a) the completion of the initial Business Combination, (b) the redemption of any Class A Ordinary Shares that are not subject to all the restrictions applicable to Class B Ordinary Shares under the terms of that certain letter agreement, dated as of January 11, 2021, by and among the Company and its officers, its directors and the Sponsor (as amended) properly submitted in connection with a shareholder vote to amend the Company’s amended and restated memorandum of association (i) to modify the substance or timing of the Company’s obligation to redeem 100% of the Public Shares if the Company does not complete the initial Business Combination by the date by which the Company is required to consummate a business combination pursuant to the amended and restated memorandum and articles of association, July 14, 2024 if extended per below (previously January 14, 2023 and then January 14, 2024 as discussed below) (the “Termination Date”), or (ii) with respect to any other provision relating to shareholders’ rights or pre-Business Combination activity, and (c) the redemption of the Public Shares if the Company is unable to complete the initial Business Combination by the Termination Date, subject to applicable law, which includes the extended time that the Company has to consummate a Business Combination beyond the Termination Date as a result of a shareholder vote to amend the Company’s amended and restated articles of incorporation. The proceeds deposited in the Trust Account could become subject to the claims of creditors, if any, which could have priority over the claims of holders of Public Shares. On January 11, 2023, the Company’s shareholders voted to extend the date by which the Company has to consummate a Business Combination from January 14, 2023 to April 23, 2023 and to allow the Company, without another shareholder vote, to elect to extend the date to consummate a Business Combination on a monthly basis for up to nine times by an additional one month each time up until the Termination Date of January 14, 2024. Upon each of the nine one-month extensions, the Sponsor or one or more of its affiliates, members or third-party designees may contribute to the Company $150,000 as a loan to be deposited into the Trust Account. During the year ended on December 31, 2023 the board of directors of the Company approved (i) one-month extensions of the Termination Date in from April through December, resulting in a new Termination Date of January 14, 2024, and (ii) draws of an aggregate of $1,800,000 pursuant to the Extension Promissory Note - related party (as defined below) to fund the extensions. On January 9, 2024, the Company held the extraordinary general meeting of shareholders of the Company (the “2024 Extension Meeting”) to amend (the “2024 Articles Amendment”), by way of special resolution, the Company’s amended and restated memorandum and articles of association to extend the date by which the Company has to consummate a Business Combination until the New Termination Date for a total of an additional six months after January 14, 2024, unless the closing of a Business Combination shall have occurred prior thereto (collectively, the “2024 Extension Amendment Proposal”); to eliminate, by way of special resolution, from the amended and restated memorandum and articles of association the limitation that GPAC II may not redeem Class A Ordinary Shares to the extent that such redemption would result in GPAC II having net tangible assets of less than $5,000,001 (the “Redemption Limitation”) in order to allow the Company to redeem Public Shares irrespective of whether such redemption would exceed the Redemption Limitation (the “Redemption Limitation Amendment Proposal”); to provide, by way of special resolution, that Public Shares may be issued to the Sponsor by way of conversion of Class B Ordinary Shares, into Public Shares, despite the restriction on issuance of additional Public Shares (the “Founder Conversion Amendment Proposal” and together with the 2024 Extension Amendment Proposal and Redemption Limitation Amendment Proposal, the “Proposals”); and, if required an adjournment proposal to adjourn, by way of ordinary resolution, the 2024 Extension Meeting to a later date or dates, if necessary, (i) to permit further solicitation and vote of proxies if, based upon the tabulated vote at the time of the 2024 Extension Meeting, there are insufficient Ordinary Shares at the 2024 Extension Meeting to approve the Proposals, or (ii) where the board of directors of the Company has determined it is otherwise necessary (the “Adjournment Proposal”). The shareholders of the Company approved the Proposals at the 2024 Extension Meeting and on January 11, 2024, the Company filed the 2024 Articles Amendment with the Registrar of Companies of the Cayman Islands. On January 9, 2024 and in connection with the 2024 Extension Meeting to approve the 2024 Extension Amendment Proposal, the Company’s Sponsor entered into non-redemption agreements (the “Non-Redemption Agreements”) with several unaffiliated third parties, pursuant to which such third parties agreed not to redeem (or to validly rescind any redemption requests on) an aggregate of 1,503,254 Class A Ordinary Shares of the Company in connection with the 2024 Extension Amendment Proposal. In exchange for the foregoing commitments not to redeem such Class A Ordinary Shares of the Company, the Sponsor agreed to transfer or cause to be issued for no consideration, an aggregate of 127,777 Ordinary Shares and simultaneous forfeiture of 127,777 Ordinary Shares in connection with the Company’s completion of its initial Business Combination. In connection with the Business Combination, at the Special Meeting on June 27, 2024, holders of <span id="xdx_90B_ecustom--RedemptionOfCommonShares_c20240627__20240627__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zqyv4DscbVe">1,660,035 Class A Ordinary Shares exercised their right to redeem their shares for cash at a redemption price of approximately $<span id="xdx_909_eus-gaap--TemporaryEquityRedemptionPricePerShare_iI_c20240627__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z6zWHcs5mqxh">11.38 per share, for an aggregate redemption amount of $18,893,209. Following such redemptions, 134,550 Class A Ordinary Shares held by shareholders other than the Sponsor, remain outstanding, representing $1,531,342 cash in trust. Subsequently on July 3, 2024 holders of <span id="xdx_906_ecustom--RedemptionOfCommonShares_c20240701__20240703__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_ziAy9trjhYkh">2,877 GPAC II Class A Ordinary Shares reversed their redemptions, resulting in a total of <span id="xdx_906_ecustom--RedemptionOfCommonShares_c20240703__20240703__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zz0fR1ihOOac" title="Redemption of common shares">137,427 GPAC II Class A Ordinary Shares outstanding as of July 3, 2024. Going Concern: At June 30, 2024, the Company had approximately $0 in cash and approximately $11,389,000 in working capital deficit. The Company has incurred significant costs and expects to continue to incur additional costs in pursuit of its Business Combination. Until June 30, 2024, and through the closing date, the Company used the funds from Sponsor loans in connection with consummating the Business Combination with Stardust. Upon completion of the Business Combination with Stardust Power Inc. on July 8, 2024, the Company’s consolidated cash balance increased due to the PIPE investments of $10,075,000, and $1,481,835 of trust account proceeds, net of redemptions and related fees. The combined company is also required to make various payments including SPAC transaction costs incurred upon the close of the Business Combination. As of the date on which these unaudited condensed consolidated financial statements were available to be issued, we believe that the cash on hand and additional investments obtained through the Business Combination will be inadequate to satisfy Company’s working capital and capital expenditure requirements for at least the next twelve months. The ability of the Company to continue as a going concern is dependent upon management’s plan to raise additional capital from issuance of equity or receive additional borrowings to fund the Company’s operating and investing activities over the next year. These unaudited condensed consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

0.0001

11.50

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127777

1077541

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50000000

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2137134

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1503254

127777

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7400000

9194585

100000

1709570

2564355

447500000

2500000

1077541

9.35

10075000

3000000

100000 1 150000

1800000

5000001 1503254 127777 127777 1660035

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<p id="xdx_80B_eus-gaap--BasisOfPresentationAndSignificantAccountingPoliciesTextBlock_zaPrZ10UFGi3" style="font: bold 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt">Note 2 – Summary of Significant Accounting Policies BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation: The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, First Merger Sub and Second Merger Sub, both formed to facilitate the acquisition of Stardust Power (Note 1). All significant intercompany balances and transactions have been eliminated in consolidation. Basis of Presentation: The accompanying unaudited condensed consolidated interim financial statements of the Company are presented in U.S. dollars and in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) pursuant to the rules and regulations of the SEC and reflect all adjustments, consisting only of normal recurring adjustments, which are, in the opinion of management, necessary for a fair presentation of the financial position and the results of operations and cash flows for the periods presented. Certain information and disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been omitted pursuant to such rules and regulations. Interim results are not necessarily indicative of results for a full year or any future periods. The accompanying unaudited condensed consolidated interim financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto included in the Company’s audited financial statements included in the Company’s Annual Report which contains the audited financial statements and notes thereto as of December 31, 2023 and for the year then ended. <p id="xdx_844_ecustom--EmergingGrowthCompanyPolicyPolicyTextBlock_zU9Hqvbv0PZ4" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt">Emerging Growth Company: Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Securities Exchange Act of 1934 (the “Exchange Act”)) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such an election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when an accounting standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. Net (Loss) Income per Ordinary Share: Net (loss) income per Ordinary Share is computed by dividing (loss) income applicable to Ordinary Shareholders by the weighted average number of Ordinary Shares outstanding for the period. The Company has not considered the effect of the warrants sold in the Public Offering and private placement to purchase an aggregate of 10,557,453 at June 30, 2024 (11,221,954 at December 31, 2023) Class A Ordinary Shares in the calculation of diluted (loss) income per Ordinary Share, since their inclusion would be anti-dilutive under the treasury stock method and are dependent on future events. As a result, diluted (loss) income per Ordinary Share is the same as basic (loss) income per Ordinary Share for the period. The Company complies with the accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share.” The Company has two classes of shares, which are referred to as Class A Ordinary Shares and Class B Ordinary Shares. Income and losses are shared pro rata among the two classes of shares. Net (loss) income per Ordinary Share is calculated by dividing the net (loss) income by the weighted average number of Ordinary Shares outstanding during the respective period. The changes in redemption value that are accreted to Public Shares subject to redemption (see below) is representative of fair value and therefore is not factored into the calculation of earnings per share. <p id="xdx_890_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zC0PtKke7BM8" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt">The following tables reflect the earnings per share after allocating (loss) income between the shares based on outstanding shares: SCHEDULE OF BASIC AND DILUTED NET LOSS PER SHARE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Three months ended June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Six months ended June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Class A</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Class B</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Class A</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Class B</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-style: italic">Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Basic and diluted net (loss) income per Ordinary Share:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 36%; text-align: left">Allocation of (loss) income– basic and diluted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_909_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zDtxpwqAoCL7" title="Allocation of (loss) income - basic"><span id="xdx_90E_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zgu0Qq9cIo5k" title="Allocation of (loss) income - diluted">(2,075,000</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_90C_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_z3XjWEcWF0ai" title="Allocation of (loss) income - basic"><span id="xdx_90C_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zwgsyFdYXmR4" title="Allocation of (loss) income - diluted">(100,000</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_907_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zxGFA7Sm6Um5" title="Allocation of (loss) income - basic"><span id="xdx_906_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zfyFQMNEqxDi" title="Allocation of (loss) income - diluted">(2,688,000</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_904_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zJB7F6ikV759" title="Allocation of (loss) income - basic"><span id="xdx_905_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zxr4zUCkS875" title="Allocation of (loss) income - diluted">(1,946,000</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-style: italic">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Basic and diluted weighted average Ordinary Shares:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zZ12RBMvOcbk" title="Basic weighted average ordinary shares"><span id="xdx_903_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zyKGBKCWgWGj" title="Diluted weighted average ordinary shares">8,796,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zL6Zgfl0Sn97" title="Basic weighted average ordinary shares"><span id="xdx_90A_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zpdFR9vw8PX7" title="Diluted weighted average ordinary shares">425,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_ztvKktHhcrR3" title="Basic weighted average ordinary shares"><span id="xdx_90B_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zrIyvY9o3H0g" title="Diluted weighted average ordinary shares">5,472,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zMZuU2isj6Ge" title="Basic weighted average ordinary shares"><span id="xdx_902_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_z3P2kYwdZ354" title="Diluted weighted average ordinary shares">3,963,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Basic and diluted (loss) income per Ordinary Share</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.24</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.24</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.49</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.49</td><td style="text-align: left">)</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Three months ended June 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Six months ended June 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Class A</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Class B</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Class A</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Class B</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-style: italic">Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Basic and diluted net (loss) income per Ordinary Share:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 36%; text-align: left">Allocation of (loss) income– basic and diluted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_90B_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zXtJHls4KTT8" title="Allocation of (loss) income - basic"><span id="xdx_90E_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zwzudZnD6pTk" title="Allocation of (loss) income - diluted">730,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_901_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zfMxbkF9EMh1" title="Allocation of (loss) income - basic"><span id="xdx_904_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_z0fqi0g4b1W1" title="Allocation of (loss) income - diluted">1,392,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_900_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zWM1DjUZzpc7" title="Allocation of (loss) income - basic"><span id="xdx_906_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zzkVUZUebqK9" title="Allocation of (loss) income - diluted">1,267,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_909_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zzcVqRmbFsOh" title="Allocation of (loss) income - basic"><span id="xdx_90F_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zcvVtzUv3V8i" title="Allocation of (loss) income - diluted">1,769,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-style: italic">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Basic and diluted weighted average Ordinary Shares:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zvyosCGSpsnd" title="Basic weighted average ordinary shares"><span id="xdx_903_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zJpYjAM1ELZg" title="Diluted weighted average ordinary shares">3,932,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zsF7XQ16tY61" title="Basic weighted average ordinary shares"><span id="xdx_907_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zF00i86iNPvh" title="Diluted weighted average ordinary shares">7,500,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zXppDWkhGEOh" title="Basic weighted average ordinary shares"><span id="xdx_902_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zWaU6uVR44Xa" title="Diluted weighted average ordinary shares">5,372,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zUh7GsM9LePa" title="Basic weighted average ordinary shares"><span id="xdx_909_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zsvzPVZbGK4d" title="Diluted weighted average ordinary shares">7,500,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Basic and diluted (loss) income per Ordinary Share</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.19</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.19</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.24</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.24</td><td style="text-align: left"> </td></tr> </table> Concentration of Credit Risk: The Company can have significant cash balances at financial institutions which throughout the year may exceed the federally insured limit of $250,000. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations, and cash flows. Cash and Cash Equivalents: The Company considers all highly liquid instruments with original maturities of three months or less when acquired to be cash equivalents. The Company had no cash equivalents at June 30, 2024 and December 31, 2023. Fair Value Measurements: The Company complies with FASB ASC 820, “Fair Value Measurements” (“ASC 820”), for its financial assets and liabilities that are re-measured and reported at fair value at each reporting period, and non-financial assets and liabilities that are re-measured and reported at fair value at least annually. As of June 30, 2024 and December 31, 2023, the carrying values of cash, prepaid expenses, accounts payable, accrued expenses and promissory notes payable – related party (including the extension promissory note) approximate their fair values primarily due to the short-term nature of the instruments. Fair value is defined as the price that would be received for sale of an asset or paid for transfer of a liability, in an orderly transaction between market participants at the measurement date. U.S. GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.</td></tr> </table> In some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement. Use of Estimates: The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated balance sheet and the reported amounts of expenses during the reporting period. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the condensed consolidated financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. One of the more significant estimates included in these condensed consolidated financial statements is the determination of the fair value of the warrant liability. Such estimates may be subject to change as more current information becomes available and accordingly the actual results could differ significantly from those estimates. Offering Costs: The Company complies with the requirements of the FASB ASC 340-10-S99-1 and SEC Staff Accounting Bulletin Topic 5A— “Expenses of Offering.” Costs incurred in connection with preparation for the Public Offering totaled approximately $17,054,000 including $16,500,000 of underwriters’ discount. Such costs were allocated among the temporary equity and warrant liability components, based on their relative fair value. Upon completion of the Public Offering, approximately $16,254,000 has been charged to temporary equity for the temporary equity components and approximately $800,000 has been charged to other expense for the warrant liability. <p id="xdx_840_eus-gaap--SharesSubjectToMandatoryRedemptionChangesInRedemptionValuePolicyTextBlock_zsWxA5kOY6C1" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt">Class A Ordinary Shares Subject to Possible Redemption: As discussed in Note 3, all of the <span id="xdx_90A_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zVNvWxy4FzVl" title="Sale of stock, number of shares issued in transaction">30,000,000 Class A Ordinary Shares sold as part of the Units (as defined below) in the Public Offering contain a redemption feature that allows for the redemption under the Company’s liquidation or tender offer/shareholder approval provisions. In accordance with FASB ASC 480, redemption provisions not solely within the control of the Company require the security to be classified outside of permanent equity. Ordinary liquidation events, which involve the redemption and liquidation of all of the entity’s equity instruments, are excluded from the provisions of FASB ASC 480. All of the Public Shares are redeemable, and are subject to redemption on the enclosed condensed consolidated balance sheets. On January 11, 2023, in connection with the vote to approve the 2023 Extension Amendment Proposal the holders of <span id="xdx_90A_ecustom--RedemptionOfCommonShares_c20230111__20230111__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zfZ9UKXMnKeg" title="Redemption of common shares">26,068,281 Class A Ordinary Shares of the Company exercised their right to redeem their shares for cash at a redemption price of approximately $<span id="xdx_907_eus-gaap--TemporaryEquityRedemptionPricePerShare_iI_c20230111__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zORqdwxMSGt" title="Temporary equity redemption price per share">10.167 per share for an aggregate redemption amount of approximately $<span id="xdx_901_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20230111__20230111__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zbHYksViyJV3" title="Temporary equity accretion to redemption value">265,050,000 reducing the number of Class A Ordinary Shares to <span id="xdx_90F_eus-gaap--TemporaryEquitySharesOutstanding_iI_c20230111__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z51uK5rjMRM9" title="Temporary equity shares outstanding">3,931,719. On January 9, 2024, in connection with the vote to approve the 2024 Extension Amendment Proposal, the holders of <span id="xdx_906_ecustom--RedemptionOfCommonShares_c20240109__20240109__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zjaa1ErAEICl" title="Redemption of common shares">2,137,134 Class A Ordinary Shares of the Company exercised their right to redeem their shares for cash at a redemption price of approximately $<span id="xdx_909_eus-gaap--TemporaryEquityRedemptionPricePerShare_iI_c20240109__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zDFZOyfnyfrl" title="Temporary equity redemption price per share">11.05 per share for an aggregate redemption amount of approximately $<span id="xdx_90D_eus-gaap--TemporaryEquityAggregateAmountOfRedemptionRequirement_iI_c20240109__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zwfXShXrdaZ7" title="Temporary equity aggregate amount of redemption requirement">23,615,000 reducing the number of Class A Ordinary Shares from <span id="xdx_90B_eus-gaap--TemporaryEquitySharesOutstanding_iI_c20240108__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zDJyzgVdsqq7" title="Temporary equity shares outstanding">3,931,719 to <span id="xdx_900_eus-gaap--TemporaryEquitySharesOutstanding_iI_c20240109__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zsmOJ8AbiZzd" title="Temporary equity shares outstanding">1,794,585. On June 27, 2024, in connection with the Special Meeting to approve the Business Combination and other related matters, the holders of <span id="xdx_90B_ecustom--RedemptionOfCommonShares_c20240627__20240627__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zEXlIWTDWF1f" title="Redemption of common shares">1,660,035 Class A Ordinary Shares of the Company exercised their right to redeem their shares for cash at a redemption price of approximately $<span id="xdx_909_eus-gaap--TemporaryEquityRedemptionPricePerShare_iI_c20240627__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zmoXv1OFle97" title="Temporary equity redemption price per share">11.38 per share for an aggregate redemption amount of approximately $<span id="xdx_908_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20240627__20240627__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z4xoTUYzVV3e" title="Temporary equity accretion to redemption value">18,893,209 reducing the number of Class A Ordinary Shares from <span id="xdx_90C_eus-gaap--TemporaryEquitySharesOutstanding_iI_c20240626__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zHniOMd5U9s6" title="Temporary equity shares outstanding">1,794,585 to <span id="xdx_907_eus-gaap--TemporaryEquitySharesOutstanding_iI_c20240627__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zAhb0hNKUVKa" title="Temporary equity shares outstanding">134,550. Subsequently on July 3, 2024 holders of <span id="xdx_909_ecustom--RedemptionOfCommonShares_c20240701__20240703__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zYNCTAF35B3k" title="Redemption of common shares">2,877 GPAC II Class A Ordinary Shares reversed their redemptions, resulting in a total of <span id="xdx_906_ecustom--RedemptionOfCommonShares_c20240703__20240703__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zERN5CmzsYlg" title="Redemption of common shares">137,427 GPAC II Class A Ordinary Shares outstanding as of July 3, 2024. The Company recognizes changes immediately as they occur and adjusts the carrying value of the securities at the end of each reporting period. Increases or decreases in the carrying amount of redeemable Class A Ordinary Shares are affected by adjustments to additional paid-in capital. Accordingly, <span id="xdx_907_eus-gaap--TemporaryEquitySharesOutstanding_iI_c20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember_zmAsyjn6OYO6" title="Temporary Equity, Shares Outstanding">134,550 and <span id="xdx_902_eus-gaap--TemporaryEquitySharesOutstanding_iI_c20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember_zMzTT77T5BI8" title="Temporary equity, shares outstanding">3,931,719 shares, respectively, were classified outside of permanent deficit at June 30, 2024 and December 31, 2023, respectively. Public Shares subject to possible redemption consist of the following: SCHEDULE OF ORDINARY SHARES SUBJECT TO REDEMPTION CONSIST <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Dollars</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Gross proceeds of Public Offering</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_z3G5LWvL0zx4" style="width: 14%; text-align: right" title="Gross proceeds of Public Offering, value">300,000,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--WeightedAverageNumberOfSharesIssuedBasic_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zbgXv5kRmtV9" style="width: 14%; text-align: right" title="Gross proceeds of Public Offering, shares">30,000,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Less: Proceeds allocated to Public Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ProceedsFromIssuanceOfWarrants_iN_di_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_z7lWhTMm40s9" style="text-align: right" title="Less: Proceeds allocated to Public Warrants, value">(14,100,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--TemporaryEquityProceedsAllocatedToPublicWarrantsShares_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zVOhHxUC8Rc7" style="text-align: right" title="Less: Proceeds allocated to Public Warrants, shares">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Offering costs</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--TemporaryEquityOfferingCosts_iN_di_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zeqdVTZ3wbGi" style="text-align: right" title="Offering costs, value">(16,254,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--TemporaryEquityOfferingCostsShares_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_z9XGm94UB3Tl" style="text-align: right" title="Offering costs, shares">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Plus: Accretion of carrying value to redemption value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zr7X3vMmGs2g" style="border-bottom: Black 1pt solid; text-align: right" title="Plus: Accretion of carrying value to redemption, value">30,354,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_ecustom--TemporaryEquityAccretionOfCarryingValueToRedemptionValueShares_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zOFU5AQBCZ5" style="border-bottom: Black 1pt solid; text-align: right" title="Plus: Accretion of carrying value to redemption, shares">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Subtotal at inception and at December 31, 2021</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iS_c20220101__20221231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zEJs7vmacBt8" style="text-align: right" title="Subtotal at inception, balance">300,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--TemporaryEquitySharesOutstanding_iS_c20220101__20221231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_z8Lg4xohHSa8" style="text-align: right" title="Subtotal at inception, balance shares">30,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Plus: Accretion of carrying value to redemption value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20220101__20221231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zJcoxJoZoHQ" style="border-bottom: Black 1pt solid; text-align: right" title="Plus: Accretion of carrying value to redemption, value">4,675,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_ecustom--TemporaryEquityAccretionOfCarryingValueToRedemptionValueShares_c20220101__20221231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zfnLbjIqmhC9" style="border-bottom: Black 1pt solid; text-align: right" title="Plus: Accretion of carrying value to redemption, shares">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Class A Ordinary Shares subject to possible redemption at December 31, 2022</td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iS_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zDY4BVAHsWwa" style="text-align: right" title="Class A Ordinary Shares subject to possible redemption, balance">304,675,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--TemporaryEquitySharesOutstanding_iS_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zjkViUMgva86" style="text-align: right" title="Class A Ordinary Shares subject to possible redemption, balance, shares">30,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Less: Class A Ordinary Shares redeemed on January 11, 2023</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--StockRedeemedOrCalledDuringPeriodValue_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zmLwt2FnmGP8" style="text-align: right" title="Less: Class A Ordinary Shares redeemed, value">(265,050,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--StockRedeemedOrCalledDuringPeriodShares_iN_di_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zq60ei7qQSy6" style="text-align: right" title="Less: Class A Ordinary Shares redeemed, shares">(26,068,281</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Plus: Accretion of carrying value to redemption value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_z5y8VeJ5cd37" style="border-bottom: Black 1pt solid; text-align: right" title="Plus: Accretion of carrying value to redemption value">4,079,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_ecustom--TemporaryEquityAccretionOfCarryingValueToRedemptionValueShares_c20220101__20221231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zjm3zbAJ0d71" style="border-bottom: Black 1pt solid; text-align: right" title="Plus: Accretion of carrying value to redemption value, shares">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Balance at December 31, 2023</td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iS_c20240101__20240331__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_ztOPTtv80PZ6" style="text-align: right" title="Balance">43,704,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--TemporaryEquitySharesOutstanding_iS_c20240101__20240331__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_z2YGfHJB2JIa" style="text-align: right" title="Balance, shares">3,931,719</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Less: Public Shares redeemed on January 9, 2024</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--PaymentsForRepurchaseOfCommonStock_iN_di_c20240101__20240331__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zExtwZ19m6Y7" style="text-align: right" title="Less: Public Shares redeemed, value">(23,768,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--PaymentsForRepurchaseOfCommonShares_iS_c20240101__20240331__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zml7SfBNsJUe" style="text-align: right" title="Less: Public Shares redeemed, shares">(2,137,134</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Plus: Accretion of carrying value to redemption value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20240101__20240331__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zQZyyGhlf3z" style="border-bottom: Black 1pt solid; text-align: right" title="Plus: Accretion of carrying value to redemption, value">273,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_ecustom--TemporaryEquityAccretionOfCarryingValueToRedemptionValueShares_c20240101__20240331__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zB7mLSJbVmsk" style="border-bottom: Black 1pt solid; text-align: right" title="Plus: Accretion of carrying value to redemption, shares">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance at March 31, 2024 (unaudited)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iS_c20240401__20240630__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_z4KpaGaQ4E45" style="text-align: right" title="Balance">20,209,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--TemporaryEquitySharesOutstanding_iS_c20240401__20240630__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zKLqITGUfJx5" style="text-align: right" title="Balance, shares">1,794,585</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Less: Public Shares redeemed on June 27, 2024</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--PaymentsForRepurchaseOfCommonStock_iN_di_c20240401__20240630__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zedRaJpOTSgb" style="text-align: right" title="Less: Public Shares redeemed, value">(18,893,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--PaymentsForRepurchaseOfCommonShares_iS_c20240401__20240630__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zISMB6pnOoE1" style="text-align: right" title="Less: Public Shares redeemed, shares">(1,660,035</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Plus: Accretion of carrying value to redemption value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20240401__20240630__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zlmhXZFFtdQc" style="border-bottom: Black 1pt solid; text-align: right" title="Plus: Accretion of carrying value to redemption, value">215,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_ecustom--TemporaryEquityAccretionOfCarryingValueToRedemptionValueShares_c20240401__20240630__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zNYfY83pdrlk" style="border-bottom: Black 1pt solid; text-align: right" title="Plus: Accretion of carrying value to redemption, shares">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Balance at June 30, 2024 (unaudited)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iE_c20240401__20240630__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zmP6Kht6DOm9" style="border-bottom: Black 2.5pt double; text-align: right" title="Balance">1,531,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--TemporaryEquitySharesOutstanding_iE_c20240401__20240630__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zD9Yz90GAgxh" style="border-bottom: Black 2.5pt double; text-align: right" title="Balance, shares">134,550</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Income Taxes: FASB ASC 740 prescribes a recognition threshold and a measurement attribute for the balance sheet recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company’s management determined that the Cayman Islands is the Company’s major tax jurisdiction. There were no unrecognized tax benefits as of June 30, 2024 and December 31, 2023. The Company recognizes interest and penalties related to unrecognized tax benefits as income tax expense. No amounts were accrued for the payment of interest and penalties at June 30, 2024 or December 31, 2023. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company has been subject to income tax examinations by major taxing authorities since inception. The Company is considered a Cayman Islands exempted company and is presently not subject to income taxes or income tax filing requirements in the Cayman Islands or the United States. As such, the Company’s tax provision was zero for the periods presented. The Company’s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months. Warrant Liability: The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in FASB ASC 480 and ASC 815, “Derivatives and Hedging” (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own Ordinary Shares, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding. For issued or modified warrants that meet all of the criteria for equity classification, the warrants are required to be recorded as a component of additional paid-in capital at the time of issuance. For issued or modified warrants that do not meet all the criteria for equity classification, the warrants are required to be recorded as a liability at their initial fair value on the date of issuance, and each balance sheet date thereafter. Changes in the estimated fair value of the warrants are recognized as a non-cash gain or loss on the unaudited condensed consolidated statement of operations. Costs associated with issuing the warrants accounted for as liabilities are charged to operations when the warrants are issued. Subsequent Events: The Company evaluated subsequent events and transactions that occurred after the date of the unaudited condensed consolidated balance sheet through the date that the unaudited condensed consolidated financial statements were available to be issued and has concluded that all such events that would require adjustment or disclosure in the unaudited condensed consolidated financial statement have been recognized or disclosed. On July 8, 2024, GPAC II completed its Business Combination with Stardust Power. Refer to notes 1 and 3 for details. GPAC II deregistered as a Cayman Islands exempted company and domesticate as a Delaware corporation. As per the Business Combination Agreement, the First Merger Sub merged into the Company, with the Company being the surviving corporation. Following the First Merger, the Company merged into Second Merger Sub, with Second Merger Sub being the surviving entity. With the consummation of the business combination, the underwriters waived their commission fees. <p id="xdx_84B_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zpwjCHNklGg8" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt">Recent Accounting Pronouncements: In August 2020, the FASB issued Accounting Standards Update (“ASU”) 2020-06, “Debt — Debt with Conversion and Other Options” (Subtopic 470-20) and “Derivatives and Hedging — Contracts in Entity’s Own Equity” (Subtopic 815-40) (“ASU 2020-06”), to simplify accounting for certain financial instruments. ASU 2020-06 eliminates the current models that require separation of beneficial conversion and cash conversion features from convertible instruments and simplifies the derivative scope exception guidance pertaining to equity classification of contracts in an entity’s own equity. The new standard also introduces additional disclosures for convertible debt and freestanding instruments that are indexed to and settled in an entity’s own equity. ASU 2020-06 amends the diluted earnings per share guidance, including the requirement to use the if-converted method for all convertible instruments. ASU 2020-06 is effective January 1, 2024 and should be applied on a full or modified retrospective basis. The Company has adopted this standard for its Extension promissory notes and there is no impact to the unaudited condensed consolidated financial statements – related party as further discussed in Note 4. Management does not believe that any other recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s unaudited condensed consolidated financial statements.

Principles of Consolidation: The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, First Merger Sub and Second Merger Sub, both formed to facilitate the acquisition of Stardust Power (Note 1). All significant intercompany balances and transactions have been eliminated in consolidation.

Basis of Presentation: The accompanying unaudited condensed consolidated interim financial statements of the Company are presented in U.S. dollars and in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) pursuant to the rules and regulations of the SEC and reflect all adjustments, consisting only of normal recurring adjustments, which are, in the opinion of management, necessary for a fair presentation of the financial position and the results of operations and cash flows for the periods presented. Certain information and disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been omitted pursuant to such rules and regulations. Interim results are not necessarily indicative of results for a full year or any future periods. The accompanying unaudited condensed consolidated interim financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto included in the Company’s audited financial statements included in the Company’s Annual Report which contains the audited financial statements and notes thereto as of December 31, 2023 and for the year then ended.

<p id="xdx_844_ecustom--EmergingGrowthCompanyPolicyPolicyTextBlock_zU9Hqvbv0PZ4" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt">Emerging Growth Company: Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Securities Exchange Act of 1934 (the “Exchange Act”)) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such an election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when an accounting standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard.

Net (Loss) Income per Ordinary Share: Net (loss) income per Ordinary Share is computed by dividing (loss) income applicable to Ordinary Shareholders by the weighted average number of Ordinary Shares outstanding for the period. The Company has not considered the effect of the warrants sold in the Public Offering and private placement to purchase an aggregate of 10,557,453 at June 30, 2024 (11,221,954 at December 31, 2023) Class A Ordinary Shares in the calculation of diluted (loss) income per Ordinary Share, since their inclusion would be anti-dilutive under the treasury stock method and are dependent on future events. As a result, diluted (loss) income per Ordinary Share is the same as basic (loss) income per Ordinary Share for the period. The Company complies with the accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share.” The Company has two classes of shares, which are referred to as Class A Ordinary Shares and Class B Ordinary Shares. Income and losses are shared pro rata among the two classes of shares. Net (loss) income per Ordinary Share is calculated by dividing the net (loss) income by the weighted average number of Ordinary Shares outstanding during the respective period. The changes in redemption value that are accreted to Public Shares subject to redemption (see below) is representative of fair value and therefore is not factored into the calculation of earnings per share. <p id="xdx_890_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zC0PtKke7BM8" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt">The following tables reflect the earnings per share after allocating (loss) income between the shares based on outstanding shares: SCHEDULE OF BASIC AND DILUTED NET LOSS PER SHARE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Three months ended June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Six months ended June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Class A</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Class B</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Class A</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Class B</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-style: italic">Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Basic and diluted net (loss) income per Ordinary Share:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 36%; text-align: left">Allocation of (loss) income– basic and diluted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_909_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zDtxpwqAoCL7" title="Allocation of (loss) income - basic"><span id="xdx_90E_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zgu0Qq9cIo5k" title="Allocation of (loss) income - diluted">(2,075,000</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_90C_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_z3XjWEcWF0ai" title="Allocation of (loss) income - basic"><span id="xdx_90C_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zwgsyFdYXmR4" title="Allocation of (loss) income - diluted">(100,000</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_907_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zxGFA7Sm6Um5" title="Allocation of (loss) income - basic"><span id="xdx_906_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zfyFQMNEqxDi" title="Allocation of (loss) income - diluted">(2,688,000</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_904_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zJB7F6ikV759" title="Allocation of (loss) income - basic"><span id="xdx_905_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zxr4zUCkS875" title="Allocation of (loss) income - diluted">(1,946,000</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-style: italic">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Basic and diluted weighted average Ordinary Shares:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zZ12RBMvOcbk" title="Basic weighted average ordinary shares"><span id="xdx_903_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zyKGBKCWgWGj" title="Diluted weighted average ordinary shares">8,796,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zL6Zgfl0Sn97" title="Basic weighted average ordinary shares"><span id="xdx_90A_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zpdFR9vw8PX7" title="Diluted weighted average ordinary shares">425,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_ztvKktHhcrR3" title="Basic weighted average ordinary shares"><span id="xdx_90B_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zrIyvY9o3H0g" title="Diluted weighted average ordinary shares">5,472,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zMZuU2isj6Ge" title="Basic weighted average ordinary shares"><span id="xdx_902_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_z3P2kYwdZ354" title="Diluted weighted average ordinary shares">3,963,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Basic and diluted (loss) income per Ordinary Share</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.24</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.24</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.49</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.49</td><td style="text-align: left">)</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Three months ended June 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Six months ended June 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Class A</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Class B</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Class A</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Class B</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-style: italic">Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Basic and diluted net (loss) income per Ordinary Share:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 36%; text-align: left">Allocation of (loss) income– basic and diluted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_90B_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zXtJHls4KTT8" title="Allocation of (loss) income - basic"><span id="xdx_90E_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zwzudZnD6pTk" title="Allocation of (loss) income - diluted">730,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_901_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zfMxbkF9EMh1" title="Allocation of (loss) income - basic"><span id="xdx_904_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_z0fqi0g4b1W1" title="Allocation of (loss) income - diluted">1,392,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_900_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zWM1DjUZzpc7" title="Allocation of (loss) income - basic"><span id="xdx_906_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zzkVUZUebqK9" title="Allocation of (loss) income - diluted">1,267,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_909_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zzcVqRmbFsOh" title="Allocation of (loss) income - basic"><span id="xdx_90F_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zcvVtzUv3V8i" title="Allocation of (loss) income - diluted">1,769,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-style: italic">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Basic and diluted weighted average Ordinary Shares:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zvyosCGSpsnd" title="Basic weighted average ordinary shares"><span id="xdx_903_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zJpYjAM1ELZg" title="Diluted weighted average ordinary shares">3,932,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zsF7XQ16tY61" title="Basic weighted average ordinary shares"><span id="xdx_907_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zF00i86iNPvh" title="Diluted weighted average ordinary shares">7,500,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zXppDWkhGEOh" title="Basic weighted average ordinary shares"><span id="xdx_902_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zWaU6uVR44Xa" title="Diluted weighted average ordinary shares">5,372,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zUh7GsM9LePa" title="Basic weighted average ordinary shares"><span id="xdx_909_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zsvzPVZbGK4d" title="Diluted weighted average ordinary shares">7,500,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Basic and diluted (loss) income per Ordinary Share</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.19</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.19</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.24</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.24</td><td style="text-align: left"> </td></tr> </table>

10557453

11221954

<p id="xdx_890_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zC0PtKke7BM8" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt">The following tables reflect the earnings per share after allocating (loss) income between the shares based on outstanding shares: SCHEDULE OF BASIC AND DILUTED NET LOSS PER SHARE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold; vertical-align: bottom">Three months ended June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Six months ended June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Class A</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Class B</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Class A</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Class B</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-style: italic">Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Basic and diluted net (loss) income per Ordinary Share:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 36%; text-align: left">Allocation of (loss) income– basic and diluted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_909_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zDtxpwqAoCL7" title="Allocation of (loss) income - basic"><span id="xdx_90E_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zgu0Qq9cIo5k" title="Allocation of (loss) income - diluted">(2,075,000</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_90C_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_z3XjWEcWF0ai" title="Allocation of (loss) income - basic"><span id="xdx_90C_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zwgsyFdYXmR4" title="Allocation of (loss) income - diluted">(100,000</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_907_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zxGFA7Sm6Um5" title="Allocation of (loss) income - basic"><span id="xdx_906_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zfyFQMNEqxDi" title="Allocation of (loss) income - diluted">(2,688,000</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_904_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zJB7F6ikV759" title="Allocation of (loss) income - basic"><span id="xdx_905_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zxr4zUCkS875" title="Allocation of (loss) income - diluted">(1,946,000</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-style: italic">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Basic and diluted weighted average Ordinary Shares:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zZ12RBMvOcbk" title="Basic weighted average ordinary shares"><span id="xdx_903_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zyKGBKCWgWGj" title="Diluted weighted average ordinary shares">8,796,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zL6Zgfl0Sn97" title="Basic weighted average ordinary shares"><span id="xdx_90A_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20240401__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zpdFR9vw8PX7" title="Diluted weighted average ordinary shares">425,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_ztvKktHhcrR3" title="Basic weighted average ordinary shares"><span id="xdx_90B_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zrIyvY9o3H0g" title="Diluted weighted average ordinary shares">5,472,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zMZuU2isj6Ge" title="Basic weighted average ordinary shares"><span id="xdx_902_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_z3P2kYwdZ354" title="Diluted weighted average ordinary shares">3,963,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Basic and diluted (loss) income per Ordinary Share</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.24</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.24</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.49</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.49</td><td style="text-align: left">)</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Three months ended June 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Six months ended June 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Class A</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Class B</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Class A</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Class B</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-style: italic">Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Basic and diluted net (loss) income per Ordinary Share:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 36%; text-align: left">Allocation of (loss) income– basic and diluted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_90B_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zXtJHls4KTT8" title="Allocation of (loss) income - basic"><span id="xdx_90E_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zwzudZnD6pTk" title="Allocation of (loss) income - diluted">730,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_901_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zfMxbkF9EMh1" title="Allocation of (loss) income - basic"><span id="xdx_904_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_z0fqi0g4b1W1" title="Allocation of (loss) income - diluted">1,392,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_900_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zWM1DjUZzpc7" title="Allocation of (loss) income - basic"><span id="xdx_906_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zzkVUZUebqK9" title="Allocation of (loss) income - diluted">1,267,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span id="xdx_909_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zzcVqRmbFsOh" title="Allocation of (loss) income - basic"><span id="xdx_90F_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zcvVtzUv3V8i" title="Allocation of (loss) income - diluted">1,769,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-style: italic">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Basic and diluted weighted average Ordinary Shares:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zvyosCGSpsnd" title="Basic weighted average ordinary shares"><span id="xdx_903_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zJpYjAM1ELZg" title="Diluted weighted average ordinary shares">3,932,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zsF7XQ16tY61" title="Basic weighted average ordinary shares"><span id="xdx_907_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230401__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zF00i86iNPvh" title="Diluted weighted average ordinary shares">7,500,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zXppDWkhGEOh" title="Basic weighted average ordinary shares"><span id="xdx_902_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zWaU6uVR44Xa" title="Diluted weighted average ordinary shares">5,372,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zUh7GsM9LePa" title="Basic weighted average ordinary shares"><span id="xdx_909_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_c20230101__20230630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zsvzPVZbGK4d" title="Diluted weighted average ordinary shares">7,500,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Basic and diluted (loss) income per Ordinary Share</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.19</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.19</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.24</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.24</td><td style="text-align: left"> </td></tr> </table>

-2075000

-100000

-2688000

-1946000

8796000

425000

5472000

3963000

-0.24

-0.49

730000

1392000

1267000

1769000

3932000

7500000

5372000

7500000

0.19

0.24

Concentration of Credit Risk: The Company can have significant cash balances at financial institutions which throughout the year may exceed the federally insured limit of $250,000. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations, and cash flows.

250000

Cash and Cash Equivalents: The Company considers all highly liquid instruments with original maturities of three months or less when acquired to be cash equivalents. The Company had no cash equivalents at June 30, 2024 and December 31, 2023.

Fair Value Measurements: The Company complies with FASB ASC 820, “Fair Value Measurements” (“ASC 820”), for its financial assets and liabilities that are re-measured and reported at fair value at each reporting period, and non-financial assets and liabilities that are re-measured and reported at fair value at least annually. As of June 30, 2024 and December 31, 2023, the carrying values of cash, prepaid expenses, accounts payable, accrued expenses and promissory notes payable – related party (including the extension promissory note) approximate their fair values primarily due to the short-term nature of the instruments. Fair value is defined as the price that would be received for sale of an asset or paid for transfer of a liability, in an orderly transaction between market participants at the measurement date. U.S. GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.</td></tr> </table> In some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement.

Use of Estimates: The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated balance sheet and the reported amounts of expenses during the reporting period. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the condensed consolidated financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. One of the more significant estimates included in these condensed consolidated financial statements is the determination of the fair value of the warrant liability. Such estimates may be subject to change as more current information becomes available and accordingly the actual results could differ significantly from those estimates.

Offering Costs: The Company complies with the requirements of the FASB ASC 340-10-S99-1 and SEC Staff Accounting Bulletin Topic 5A— “Expenses of Offering.” Costs incurred in connection with preparation for the Public Offering totaled approximately $17,054,000 including $16,500,000 of underwriters’ discount. Such costs were allocated among the temporary equity and warrant liability components, based on their relative fair value. Upon completion of the Public Offering, approximately $16,254,000 has been charged to temporary equity for the temporary equity components and approximately $800,000 has been charged to other expense for the warrant liability.

17054000

16500000

16254000

800000

<p id="xdx_840_eus-gaap--SharesSubjectToMandatoryRedemptionChangesInRedemptionValuePolicyTextBlock_zsWxA5kOY6C1" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt">Class A Ordinary Shares Subject to Possible Redemption: As discussed in Note 3, all of the <span id="xdx_90A_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zVNvWxy4FzVl" title="Sale of stock, number of shares issued in transaction">30,000,000 Class A Ordinary Shares sold as part of the Units (as defined below) in the Public Offering contain a redemption feature that allows for the redemption under the Company’s liquidation or tender offer/shareholder approval provisions. In accordance with FASB ASC 480, redemption provisions not solely within the control of the Company require the security to be classified outside of permanent equity. Ordinary liquidation events, which involve the redemption and liquidation of all of the entity’s equity instruments, are excluded from the provisions of FASB ASC 480. All of the Public Shares are redeemable, and are subject to redemption on the enclosed condensed consolidated balance sheets. On January 11, 2023, in connection with the vote to approve the 2023 Extension Amendment Proposal the holders of <span id="xdx_90A_ecustom--RedemptionOfCommonShares_c20230111__20230111__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zfZ9UKXMnKeg" title="Redemption of common shares">26,068,281 Class A Ordinary Shares of the Company exercised their right to redeem their shares for cash at a redemption price of approximately $<span id="xdx_907_eus-gaap--TemporaryEquityRedemptionPricePerShare_iI_c20230111__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zORqdwxMSGt" title="Temporary equity redemption price per share">10.167 per share for an aggregate redemption amount of approximately $<span id="xdx_901_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20230111__20230111__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zbHYksViyJV3" title="Temporary equity accretion to redemption value">265,050,000 reducing the number of Class A Ordinary Shares to <span id="xdx_90F_eus-gaap--TemporaryEquitySharesOutstanding_iI_c20230111__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z51uK5rjMRM9" title="Temporary equity shares outstanding">3,931,719. On January 9, 2024, in connection with the vote to approve the 2024 Extension Amendment Proposal, the holders of <span id="xdx_906_ecustom--RedemptionOfCommonShares_c20240109__20240109__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zjaa1ErAEICl" title="Redemption of common shares">2,137,134 Class A Ordinary Shares of the Company exercised their right to redeem their shares for cash at a redemption price of approximately $<span id="xdx_909_eus-gaap--TemporaryEquityRedemptionPricePerShare_iI_c20240109__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zDFZOyfnyfrl" title="Temporary equity redemption price per share">11.05 per share for an aggregate redemption amount of approximately $<span id="xdx_90D_eus-gaap--TemporaryEquityAggregateAmountOfRedemptionRequirement_iI_c20240109__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zwfXShXrdaZ7" title="Temporary equity aggregate amount of redemption requirement">23,615,000 reducing the number of Class A Ordinary Shares from <span id="xdx_90B_eus-gaap--TemporaryEquitySharesOutstanding_iI_c20240108__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zDJyzgVdsqq7" title="Temporary equity shares outstanding">3,931,719 to <span id="xdx_900_eus-gaap--TemporaryEquitySharesOutstanding_iI_c20240109__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zsmOJ8AbiZzd" title="Temporary equity shares outstanding">1,794,585. On June 27, 2024, in connection with the Special Meeting to approve the Business Combination and other related matters, the holders of <span id="xdx_90B_ecustom--RedemptionOfCommonShares_c20240627__20240627__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zEXlIWTDWF1f" title="Redemption of common shares">1,660,035 Class A Ordinary Shares of the Company exercised their right to redeem their shares for cash at a redemption price of approximately $<span id="xdx_909_eus-gaap--TemporaryEquityRedemptionPricePerShare_iI_c20240627__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zmoXv1OFle97" title="Temporary equity redemption price per share">11.38 per share for an aggregate redemption amount of approximately $<span id="xdx_908_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20240627__20240627__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z4xoTUYzVV3e" title="Temporary equity accretion to redemption value">18,893,209 reducing the number of Class A Ordinary Shares from <span id="xdx_90C_eus-gaap--TemporaryEquitySharesOutstanding_iI_c20240626__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zHniOMd5U9s6" title="Temporary equity shares outstanding">1,794,585 to <span id="xdx_907_eus-gaap--TemporaryEquitySharesOutstanding_iI_c20240627__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zAhb0hNKUVKa" title="Temporary equity shares outstanding">134,550. Subsequently on July 3, 2024 holders of <span id="xdx_909_ecustom--RedemptionOfCommonShares_c20240701__20240703__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zYNCTAF35B3k" title="Redemption of common shares">2,877 GPAC II Class A Ordinary Shares reversed their redemptions, resulting in a total of <span id="xdx_906_ecustom--RedemptionOfCommonShares_c20240703__20240703__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zERN5CmzsYlg" title="Redemption of common shares">137,427 GPAC II Class A Ordinary Shares outstanding as of July 3, 2024. The Company recognizes changes immediately as they occur and adjusts the carrying value of the securities at the end of each reporting period. Increases or decreases in the carrying amount of redeemable Class A Ordinary Shares are affected by adjustments to additional paid-in capital. Accordingly, <span id="xdx_907_eus-gaap--TemporaryEquitySharesOutstanding_iI_c20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember_zmAsyjn6OYO6" title="Temporary Equity, Shares Outstanding">134,550 and <span id="xdx_902_eus-gaap--TemporaryEquitySharesOutstanding_iI_c20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember_zMzTT77T5BI8" title="Temporary equity, shares outstanding">3,931,719 shares, respectively, were classified outside of permanent deficit at June 30, 2024 and December 31, 2023, respectively. Public Shares subject to possible redemption consist of the following: SCHEDULE OF ORDINARY SHARES SUBJECT TO REDEMPTION CONSIST <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Dollars</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Gross proceeds of Public Offering</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_z3G5LWvL0zx4" style="width: 14%; text-align: right" title="Gross proceeds of Public Offering, value">300,000,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--WeightedAverageNumberOfSharesIssuedBasic_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zbgXv5kRmtV9" style="width: 14%; text-align: right" title="Gross proceeds of Public Offering, shares">30,000,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Less: Proceeds allocated to Public Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ProceedsFromIssuanceOfWarrants_iN_di_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_z7lWhTMm40s9" style="text-align: right" title="Less: Proceeds allocated to Public Warrants, value">(14,100,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--TemporaryEquityProceedsAllocatedToPublicWarrantsShares_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zVOhHxUC8Rc7" style="text-align: right" title="Less: Proceeds allocated to Public Warrants, shares">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Offering costs</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--TemporaryEquityOfferingCosts_iN_di_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zeqdVTZ3wbGi" style="text-align: right" title="Offering costs, value">(16,254,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--TemporaryEquityOfferingCostsShares_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_z9XGm94UB3Tl" style="text-align: right" title="Offering costs, shares">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Plus: Accretion of carrying value to redemption value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zr7X3vMmGs2g" style="border-bottom: Black 1pt solid; text-align: right" title="Plus: Accretion of carrying value to redemption, value">30,354,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_ecustom--TemporaryEquityAccretionOfCarryingValueToRedemptionValueShares_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zOFU5AQBCZ5" style="border-bottom: Black 1pt solid; text-align: right" title="Plus: Accretion of carrying value to redemption, shares">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Subtotal at inception and at December 31, 2021</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iS_c20220101__20221231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zEJs7vmacBt8" style="text-align: right" title="Subtotal at inception, balance">300,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--TemporaryEquitySharesOutstanding_iS_c20220101__20221231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_z8Lg4xohHSa8" style="text-align: right" title="Subtotal at inception, balance shares">30,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Plus: Accretion of carrying value to redemption value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20220101__20221231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zJcoxJoZoHQ" style="border-bottom: Black 1pt solid; text-align: right" title="Plus: Accretion of carrying value to redemption, value">4,675,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_ecustom--TemporaryEquityAccretionOfCarryingValueToRedemptionValueShares_c20220101__20221231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zfnLbjIqmhC9" style="border-bottom: Black 1pt solid; text-align: right" title="Plus: Accretion of carrying value to redemption, shares">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Class A Ordinary Shares subject to possible redemption at December 31, 2022</td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iS_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zDY4BVAHsWwa" style="text-align: right" title="Class A Ordinary Shares subject to possible redemption, balance">304,675,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--TemporaryEquitySharesOutstanding_iS_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zjkViUMgva86" style="text-align: right" title="Class A Ordinary Shares subject to possible redemption, balance, shares">30,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Less: Class A Ordinary Shares redeemed on January 11, 2023</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--StockRedeemedOrCalledDuringPeriodValue_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zmLwt2FnmGP8" style="text-align: right" title="Less: Class A Ordinary Shares redeemed, value">(265,050,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--StockRedeemedOrCalledDuringPeriodShares_iN_di_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zq60ei7qQSy6" style="text-align: right" title="Less: Class A Ordinary Shares redeemed, shares">(26,068,281</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Plus: Accretion of carrying value to redemption value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_z5y8VeJ5cd37" style="border-bottom: Black 1pt solid; text-align: right" title="Plus: Accretion of carrying value to redemption value">4,079,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_ecustom--TemporaryEquityAccretionOfCarryingValueToRedemptionValueShares_c20220101__20221231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zjm3zbAJ0d71" style="border-bottom: Black 1pt solid; text-align: right" title="Plus: Accretion of carrying value to redemption value, shares">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Balance at December 31, 2023</td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iS_c20240101__20240331__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_ztOPTtv80PZ6" style="text-align: right" title="Balance">43,704,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--TemporaryEquitySharesOutstanding_iS_c20240101__20240331__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_z2YGfHJB2JIa" style="text-align: right" title="Balance, shares">3,931,719</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Less: Public Shares redeemed on January 9, 2024</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--PaymentsForRepurchaseOfCommonStock_iN_di_c20240101__20240331__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zExtwZ19m6Y7" style="text-align: right" title="Less: Public Shares redeemed, value">(23,768,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--PaymentsForRepurchaseOfCommonShares_iS_c20240101__20240331__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zml7SfBNsJUe" style="text-align: right" title="Less: Public Shares redeemed, shares">(2,137,134</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Plus: Accretion of carrying value to redemption value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20240101__20240331__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zQZyyGhlf3z" style="border-bottom: Black 1pt solid; text-align: right" title="Plus: Accretion of carrying value to redemption, value">273,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_ecustom--TemporaryEquityAccretionOfCarryingValueToRedemptionValueShares_c20240101__20240331__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zB7mLSJbVmsk" style="border-bottom: Black 1pt solid; text-align: right" title="Plus: Accretion of carrying value to redemption, shares">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance at March 31, 2024 (unaudited)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iS_c20240401__20240630__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_z4KpaGaQ4E45" style="text-align: right" title="Balance">20,209,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--TemporaryEquitySharesOutstanding_iS_c20240401__20240630__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zKLqITGUfJx5" style="text-align: right" title="Balance, shares">1,794,585</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Less: Public Shares redeemed on June 27, 2024</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--PaymentsForRepurchaseOfCommonStock_iN_di_c20240401__20240630__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zedRaJpOTSgb" style="text-align: right" title="Less: Public Shares redeemed, value">(18,893,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--PaymentsForRepurchaseOfCommonShares_iS_c20240401__20240630__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zISMB6pnOoE1" style="text-align: right" title="Less: Public Shares redeemed, shares">(1,660,035</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Plus: Accretion of carrying value to redemption value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20240401__20240630__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zlmhXZFFtdQc" style="border-bottom: Black 1pt solid; text-align: right" title="Plus: Accretion of carrying value to redemption, value">215,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_ecustom--TemporaryEquityAccretionOfCarryingValueToRedemptionValueShares_c20240401__20240630__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zNYfY83pdrlk" style="border-bottom: Black 1pt solid; text-align: right" title="Plus: Accretion of carrying value to redemption, shares">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Balance at June 30, 2024 (unaudited)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iE_c20240401__20240630__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zmP6Kht6DOm9" style="border-bottom: Black 2.5pt double; text-align: right" title="Balance">1,531,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--TemporaryEquitySharesOutstanding_iE_c20240401__20240630__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zD9Yz90GAgxh" style="border-bottom: Black 2.5pt double; text-align: right" title="Balance, shares">134,550</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

30000000

26068281

10.167

265050000

3931719

2137134

11.05

23615000

3931719

1794585

1660035

11.38

18893209

1794585

134550

2877 137427

134550

3931719

Public Shares subject to possible redemption consist of the following: SCHEDULE OF ORDINARY SHARES SUBJECT TO REDEMPTION CONSIST <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Dollars</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Gross proceeds of Public Offering</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_z3G5LWvL0zx4" style="width: 14%; text-align: right" title="Gross proceeds of Public Offering, value">300,000,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--WeightedAverageNumberOfSharesIssuedBasic_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zbgXv5kRmtV9" style="width: 14%; text-align: right" title="Gross proceeds of Public Offering, shares">30,000,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Less: Proceeds allocated to Public Warrants</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ProceedsFromIssuanceOfWarrants_iN_di_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_z7lWhTMm40s9" style="text-align: right" title="Less: Proceeds allocated to Public Warrants, value">(14,100,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--TemporaryEquityProceedsAllocatedToPublicWarrantsShares_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zVOhHxUC8Rc7" style="text-align: right" title="Less: Proceeds allocated to Public Warrants, shares">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Offering costs</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--TemporaryEquityOfferingCosts_iN_di_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zeqdVTZ3wbGi" style="text-align: right" title="Offering costs, value">(16,254,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--TemporaryEquityOfferingCostsShares_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_z9XGm94UB3Tl" style="text-align: right" title="Offering costs, shares">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Plus: Accretion of carrying value to redemption value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zr7X3vMmGs2g" style="border-bottom: Black 1pt solid; text-align: right" title="Plus: Accretion of carrying value to redemption, value">30,354,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_ecustom--TemporaryEquityAccretionOfCarryingValueToRedemptionValueShares_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zOFU5AQBCZ5" style="border-bottom: Black 1pt solid; text-align: right" title="Plus: Accretion of carrying value to redemption, shares">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Subtotal at inception and at December 31, 2021</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iS_c20220101__20221231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zEJs7vmacBt8" style="text-align: right" title="Subtotal at inception, balance">300,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--TemporaryEquitySharesOutstanding_iS_c20220101__20221231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_z8Lg4xohHSa8" style="text-align: right" title="Subtotal at inception, balance shares">30,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Plus: Accretion of carrying value to redemption value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20220101__20221231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zJcoxJoZoHQ" style="border-bottom: Black 1pt solid; text-align: right" title="Plus: Accretion of carrying value to redemption, value">4,675,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_ecustom--TemporaryEquityAccretionOfCarryingValueToRedemptionValueShares_c20220101__20221231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zfnLbjIqmhC9" style="border-bottom: Black 1pt solid; text-align: right" title="Plus: Accretion of carrying value to redemption, shares">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Class A Ordinary Shares subject to possible redemption at December 31, 2022</td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iS_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zDY4BVAHsWwa" style="text-align: right" title="Class A Ordinary Shares subject to possible redemption, balance">304,675,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--TemporaryEquitySharesOutstanding_iS_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zjkViUMgva86" style="text-align: right" title="Class A Ordinary Shares subject to possible redemption, balance, shares">30,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Less: Class A Ordinary Shares redeemed on January 11, 2023</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--StockRedeemedOrCalledDuringPeriodValue_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zmLwt2FnmGP8" style="text-align: right" title="Less: Class A Ordinary Shares redeemed, value">(265,050,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--StockRedeemedOrCalledDuringPeriodShares_iN_di_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zq60ei7qQSy6" style="text-align: right" title="Less: Class A Ordinary Shares redeemed, shares">(26,068,281</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Plus: Accretion of carrying value to redemption value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_z5y8VeJ5cd37" style="border-bottom: Black 1pt solid; text-align: right" title="Plus: Accretion of carrying value to redemption value">4,079,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_ecustom--TemporaryEquityAccretionOfCarryingValueToRedemptionValueShares_c20220101__20221231__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zjm3zbAJ0d71" style="border-bottom: Black 1pt solid; text-align: right" title="Plus: Accretion of carrying value to redemption value, shares">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Balance at December 31, 2023</td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iS_c20240101__20240331__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_ztOPTtv80PZ6" style="text-align: right" title="Balance">43,704,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--TemporaryEquitySharesOutstanding_iS_c20240101__20240331__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_z2YGfHJB2JIa" style="text-align: right" title="Balance, shares">3,931,719</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Less: Public Shares redeemed on January 9, 2024</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--PaymentsForRepurchaseOfCommonStock_iN_di_c20240101__20240331__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zExtwZ19m6Y7" style="text-align: right" title="Less: Public Shares redeemed, value">(23,768,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--PaymentsForRepurchaseOfCommonShares_iS_c20240101__20240331__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zml7SfBNsJUe" style="text-align: right" title="Less: Public Shares redeemed, shares">(2,137,134</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Plus: Accretion of carrying value to redemption value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20240101__20240331__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zQZyyGhlf3z" style="border-bottom: Black 1pt solid; text-align: right" title="Plus: Accretion of carrying value to redemption, value">273,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_ecustom--TemporaryEquityAccretionOfCarryingValueToRedemptionValueShares_c20240101__20240331__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zB7mLSJbVmsk" style="border-bottom: Black 1pt solid; text-align: right" title="Plus: Accretion of carrying value to redemption, shares">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance at March 31, 2024 (unaudited)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iS_c20240401__20240630__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_z4KpaGaQ4E45" style="text-align: right" title="Balance">20,209,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--TemporaryEquitySharesOutstanding_iS_c20240401__20240630__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zKLqITGUfJx5" style="text-align: right" title="Balance, shares">1,794,585</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Less: Public Shares redeemed on June 27, 2024</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--PaymentsForRepurchaseOfCommonStock_iN_di_c20240401__20240630__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zedRaJpOTSgb" style="text-align: right" title="Less: Public Shares redeemed, value">(18,893,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--PaymentsForRepurchaseOfCommonShares_iS_c20240401__20240630__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zISMB6pnOoE1" style="text-align: right" title="Less: Public Shares redeemed, shares">(1,660,035</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Plus: Accretion of carrying value to redemption value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--TemporaryEquityAccretionToRedemptionValue_c20240401__20240630__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zlmhXZFFtdQc" style="border-bottom: Black 1pt solid; text-align: right" title="Plus: Accretion of carrying value to redemption, value">215,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_ecustom--TemporaryEquityAccretionOfCarryingValueToRedemptionValueShares_c20240401__20240630__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zNYfY83pdrlk" style="border-bottom: Black 1pt solid; text-align: right" title="Plus: Accretion of carrying value to redemption, shares">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Balance at June 30, 2024 (unaudited)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iE_c20240401__20240630__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zmP6Kht6DOm9" style="border-bottom: Black 2.5pt double; text-align: right" title="Balance">1,531,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--TemporaryEquitySharesOutstanding_iE_c20240401__20240630__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesSubjectToRedemptionMember_zD9Yz90GAgxh" style="border-bottom: Black 2.5pt double; text-align: right" title="Balance, shares">134,550</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

300000000

30000000

14100000

16254000

30354000

300000000

30000000

4675000

304675000

30000000

-265050000

26068281

4079000

43704000

3931719

23768000

-2137134

273000

20209000

1794585

18893000

-1660035

215000

1531000

134550

Income Taxes: FASB ASC 740 prescribes a recognition threshold and a measurement attribute for the balance sheet recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company’s management determined that the Cayman Islands is the Company’s major tax jurisdiction. There were no unrecognized tax benefits as of June 30, 2024 and December 31, 2023. The Company recognizes interest and penalties related to unrecognized tax benefits as income tax expense. No amounts were accrued for the payment of interest and penalties at June 30, 2024 or December 31, 2023. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company has been subject to income tax examinations by major taxing authorities since inception. The Company is considered a Cayman Islands exempted company and is presently not subject to income taxes or income tax filing requirements in the Cayman Islands or the United States. As such, the Company’s tax provision was zero for the periods presented. The Company’s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months.

Warrant Liability: The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in FASB ASC 480 and ASC 815, “Derivatives and Hedging” (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own Ordinary Shares, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding. For issued or modified warrants that meet all of the criteria for equity classification, the warrants are required to be recorded as a component of additional paid-in capital at the time of issuance. For issued or modified warrants that do not meet all the criteria for equity classification, the warrants are required to be recorded as a liability at their initial fair value on the date of issuance, and each balance sheet date thereafter. Changes in the estimated fair value of the warrants are recognized as a non-cash gain or loss on the unaudited condensed consolidated statement of operations. Costs associated with issuing the warrants accounted for as liabilities are charged to operations when the warrants are issued.

Subsequent Events: The Company evaluated subsequent events and transactions that occurred after the date of the unaudited condensed consolidated balance sheet through the date that the unaudited condensed consolidated financial statements were available to be issued and has concluded that all such events that would require adjustment or disclosure in the unaudited condensed consolidated financial statement have been recognized or disclosed. On July 8, 2024, GPAC II completed its Business Combination with Stardust Power. Refer to notes 1 and 3 for details. GPAC II deregistered as a Cayman Islands exempted company and domesticate as a Delaware corporation. As per the Business Combination Agreement, the First Merger Sub merged into the Company, with the Company being the surviving corporation. Following the First Merger, the Company merged into Second Merger Sub, with Second Merger Sub being the surviving entity. With the consummation of the business combination, the underwriters waived their commission fees.

<p id="xdx_84B_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zpwjCHNklGg8" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt">Recent Accounting Pronouncements: In August 2020, the FASB issued Accounting Standards Update (“ASU”) 2020-06, “Debt — Debt with Conversion and Other Options” (Subtopic 470-20) and “Derivatives and Hedging — Contracts in Entity’s Own Equity” (Subtopic 815-40) (“ASU 2020-06”), to simplify accounting for certain financial instruments. ASU 2020-06 eliminates the current models that require separation of beneficial conversion and cash conversion features from convertible instruments and simplifies the derivative scope exception guidance pertaining to equity classification of contracts in an entity’s own equity. The new standard also introduces additional disclosures for convertible debt and freestanding instruments that are indexed to and settled in an entity’s own equity. ASU 2020-06 amends the diluted earnings per share guidance, including the requirement to use the if-converted method for all convertible instruments. ASU 2020-06 is effective January 1, 2024 and should be applied on a full or modified retrospective basis. The Company has adopted this standard for its Extension promissory notes and there is no impact to the unaudited condensed consolidated financial statements – related party as further discussed in Note 4. Management does not believe that any other recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s unaudited condensed consolidated financial statements.

Note 3 – Public Offering PUBLIC OFFERING On January 14, 2021, the Company consummated the Public Offering and sale of <span id="xdx_90A_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20210114__20210114__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zTNYEdgaJkBe" title="Share of ordinary share">30,000,000 units at a price of $10.00 per unit (the “Units”). Each Unit consists of one share of the Company’s Class A Ordinary Shares, one-sixth of one detachable redeemable warrant (the “Detachable Redeemable Warrants”) and the contingent right to receive, in certain circumstances, in connection with the Business Combination, one-sixth of one distributable redeemable warrant for each Public Share that a Public Shareholder holds and does not redeem in connection with the Company’s initial Business Combination (the “Distributable Redeemable Warrants,” and together with the Detachable Redeemable Warrants, the “Redeemable Warrants”). Each whole Redeemable Warrant offered in the Public Offering is exercisable to purchase one of the Company’s Class A Ordinary Shares. Only whole Redeemable Warrants may be exercised. Under the terms of the warrant agreement, the Company has agreed to use its commercially reasonable efforts to file a new registration statement under the Securities Act, following the completion of the Company’s initial Business Combination covering the Class A Ordinary Shares issuable upon the exercise of warrants. No fractional shares will be issued upon exercise of the Redeemable Warrants. If, upon exercise of the Redeemable Warrants, a holder would be entitled to receive a fractional interest in a share, the Company will, upon exercise, round down to the nearest whole number the number of Class A Ordinary Shares to be issued to the Redeemable Warrant holder. Each Redeemable Warrant will become exercisable on the later of 30 days after the completion of the Company’s initial Business Combination or 12 months from the closing of the Public Offering and will expire five years after the completion of the Company’s initial Business Combination or earlier upon redemption or liquidation. However, if the Company does not complete its initial Business Combination on or prior to the New Termination Date, the Redeemable Warrants will expire at the end of such period. If the Company is unable to deliver registered Class A Ordinary Shares to the holder upon exercise of a Redeemable Warrant during the exercise period, there will be no net cash settlement of these Redeemable Warrants and the Redeemable Warrants will expire worthless, unless they may be exercised on a cashless basis in the circumstances described in the warrant agreement. Once the Redeemable Warrants become exercisable, the Company may redeem the outstanding Redeemable Warrants in whole and not in part at a price of $0.01 per Warrant upon a minimum of 30 days’ prior written notice of redemption, only in the event that the last sale price of the Class A Ordinary Shares equals or exceeds $<span id="xdx_902_ecustom--ClassOfWarrantOrRightRedemptionOfWarrantsOrRightsStockPriceTrigger_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zbe8Gv1zWpe8" title="Stock price trigger for redemption of public warrants">18.00 per share for any <span id="xdx_90E_ecustom--ClassOfWarrantOrRightExercisableEntityMayRedeemRedemptionCommonStockLastSalePriceTradingDaysNumber_dtD_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z7eZZpBAQahg" title="Trading days period">20 trading days within the <span id="xdx_90B_ecustom--ClassOfWarrantOrRightExercisableEntityMayRedeemRedemptionCommonStockLastSalePriceConsecutiveTradingDayPeriodDaysNumber_dtD_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zNnhJOWTNwvf" title="Ending trading period">30-trading day period ending on the <span id="xdx_901_ecustom--ThresholdNumberOfBusinessDaysBeforeSendingNoticeOfRedemptionToWarrantHolders_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--ClassOfWarrantOrRightAxis__custom--RedeemableWarrantMember_zHTz2MbuE202" title="Before the company sending notice period">third trading day before the Company sends the notice of redemption to the Redeemable Warrant holders, and that certain other conditions are met. Once the Redeemable Warrants become exercisable, the Company may also redeem the outstanding Redeemable Warrants in whole and not in part at a price of $<span id="xdx_904_ecustom--ClassOfWarrantOrRightRedemptionPriceOfWarrantsOrRights_iI_c20240630__us-gaap--ClassOfWarrantOrRightAxis__custom--RedeemableWarrantMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_znGcM62eEcI1" title="Redemption price per public warrant">0.10 per Warrant upon a minimum of 30 days’ prior written notice of redemption, only in the event that the closing price of the Class A Ordinary Shares equals or exceeds $<span id="xdx_907_ecustom--ClassOfWarrantOrRightRedemptionOfWarrantsOrRightsStockPriceTrigger_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--WarrantMember_zrhRESBOtUQ" title="Stock price trigger for redemption of public warrants">10.00 per share on the trading day prior to the date on which the Company sends the notice of redemption, and that certain other conditions are met. If the closing price of the Class A Ordinary Shares is less than $<span id="xdx_903_ecustom--ClassOfWarrantOrRightRedemptionOfWarrantsOrRightsStockPriceTrigger_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--RestatementAxis__srt--RestatementAdjustmentMember_zxVJjjwiqAV3" title="Stock price trigger for redemption of public warrants">18.00 per share (as adjusted) for any <span id="xdx_90A_ecustom--ClassOfWarrantOrRightExercisableEntityMayRedeemRedemptionCommonStockLastSalePriceTradingDaysNumber_dtD_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z9Rop3j3iAl4" title="Trading days period">20 trading days within a <span id="xdx_903_ecustom--ClassOfWarrantOrRightExercisableEntityMayRedeemRedemptionCommonStockLastSalePriceConsecutiveTradingDayPeriodDaysNumber_dtD_c20240101__20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zhWyPm7sSa9h" title="Ending trading period">30-trading day period ending three trading days before the Company sends the notice of redemption to the warrant holders, the Private Placement Warrants must also concurrently be called for redemption on the same terms as the outstanding public warrants, as described above (the “Public Warrants”). If issued, the Distributable Redeemable Warrants are identical to the Redeemable Warrants and together represent the Public Warrants. The Company had granted the underwriters a <span id="xdx_905_ecustom--UnderwritersOptionPeriodFromDateOfInitialPublicOffering_dtD_c20210114__20210114__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zBAVrbfqLpE3" title="Underwriters option period">45-day option to purchase up to 2,500,000 Units to cover any over-allotments, at the Public Offering price less the underwriting discounts and commissions, and such option was exercised in full at the closing of the Public Offering and included in the 30,000,000 Units sold on January 14, 2021. The Company paid an underwriting discount of 2.0% of the per Unit price, $6,000,000, to the underwriters at the closing of the Public Offering, and there is a deferred underwriting fee of 3.5% of the per Unit price, $10,500,000, which is payable upon the completion of the Company’s initial Business Combination. During the six months ended June 30, 2024, both of the underwriters agreed to waive their right to the deferred underwriting fee in connection with the completion of a business combination. As such, the $10,500,000 liability will be reversed in connection with the closing of an initial business combination. Shareholders approved the 2023 Extension Amendment Proposal at the extraordinary general meeting held on January 11, 2023 (the “2023 Extension Meeting”) and on January 11, 2023, in connection with the 2023 Extension Amendment Proposal vote, the holders of <span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_c20230111__20230111__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember_zdPOofudVTR7" title="Stock issued during period shares stock options exercised">26,068,281 Class A Ordinary Shares of the Company properly exercised their right to redeem their shares for an aggregate price of approximately $<span id="xdx_905_eus-gaap--TemporaryEquityRedemptionPricePerShare_iI_c20230111__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember_za7TUQIc4FSk" title="Redemption price">10.167 per share, for an aggregate redemption amount of approximately $265,050,166. In addition, 4,344,714 contingent redeemable warrants will no longer be available to the former holders of the <span id="xdx_904_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_c20230111__20230111__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__custom--ExtensionAmendmentProposalMember__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_zlxj65Hl5jCl" title="Ordinary shares exercised">26,068,281 Class A Ordinary Shares redeemed and so the carrying amount of those warrants, approximately $130,000, was removed from the warrant liabilities on the unaudited condensed consolidated balance sheet. On January 9, 2024, in connection with the 2024 Extension Meeting, holders of <span id="xdx_90F_ecustom--RedemptionOfCommonShares_c20240109__20240109__us-gaap--AwardTypeAxis__custom--TwoZeroTwoFourExtensionMeetingMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zc3GAvhRYkaa" title="Stock redeemed, shares">2,137,134 Class A Ordinary Shares exercised their right to redeem their shares for cash at a redemption price of approximately $<span id="xdx_90F_eus-gaap--TemporaryEquityRedemptionPricePerShare_iI_pid_c20240109__us-gaap--AwardTypeAxis__custom--TwoZeroTwoFourExtensionMeetingMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zSfqm1mkFhej">11.05 per share, for an aggregate redemption amount of approximately $<span id="xdx_907_eus-gaap--TemporaryEquityAccretionToRedemptionValueAdjustment_c20240109__20240109__us-gaap--AwardTypeAxis__custom--TwoZeroTwoFourExtensionMeetingMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z4NowWAmNcT9" title="Accretion in value of Class A ordinary shares subject to possible redemption">23,615,331. In addition, <span id="xdx_90A_ecustom--ContingentRedeemableWarrants_c20240109__20240109__us-gaap--AwardTypeAxis__custom--TwoZeroTwoFourExtensionMeetingMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zQmRCwWRZgP9" title="Contingent redeemable warrants">356,189 contingent Distributable Redeemable Warrants will no longer be available to the former holders of the <span id="xdx_908_ecustom--RedemptionOfCommonShares_c20240109__20240109__us-gaap--AwardTypeAxis__custom--TwoZeroTwoFourExtensionMeetingMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_znx1iy40FV09" title="Stock redeemed, shares">2,137,134 Class A Ordinary Shares redeemed and so the carrying amount of those warrants has been removed from the warrant liabilities on the unaudited condensed consolidated balance sheet at June 30 2024. On June 27, 2024, in connection with the Shareholder meeting to approve Business Combination and other matters, holders of <span id="xdx_90E_ecustom--RedemptionOfCommonShares_c20240627__20240627__us-gaap--AwardTypeAxis__custom--ShareholderMeetingMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zd9uMXFV9NIa" title="Stock redeemed, shares">1,660,035 Class A Ordinary Shares exercised their right to redeem their shares for cash at a redemption price of approximately $<span id="xdx_902_eus-gaap--TemporaryEquityRedemptionPricePerShare_iI_pid_c20240627__us-gaap--AwardTypeAxis__custom--ShareholderMeetingMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zH6CM0VV97V">11.38 per share, for an aggregate redemption amount of approximately $<span id="xdx_900_eus-gaap--TemporaryEquityAccretionToRedemptionValueAdjustment_c20240627__20240627__us-gaap--AwardTypeAxis__custom--ShareholderMeetingMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zaICyp5tskT5">18,893,209. In addition, <span id="xdx_90E_ecustom--ContingentRedeemableWarrants_c20240627__20240627__us-gaap--AwardTypeAxis__custom--ShareholderMeetingMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z6K2wp4NJJTj" title="Contingent redeemable warrants">276,673 contingent Distributable Redeemable Warrants will no longer be available to the former holders of the <span id="xdx_902_ecustom--RedemptionOfCommonShares_c20240627__20240627__us-gaap--AwardTypeAxis__custom--ShareholderMeetingMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zsPPd77a2GA" title="Stock redeemed, shares">1,660,035 Class A Ordinary Shares redeemed and so the carrying amount of those warrants has been removed from the warrant liabilities on the unaudited condensed consolidated balance sheet at June 30 2024.

30000000

10.00

P30D

P5Y

0.01 18.00 P20D P30D third 0.10 10.00 18.00 P20D P30D P45D 2500000 30000000 0.020

6000000

0.035 10500000 10500000

26068281

10.167

265050166

4344714

26068281

130000 2137134

11.05

23615331

356189 2137134 1660035

11.38

18893209

276673 1660035

<p id="xdx_808_eus-gaap--RelatedPartyTransactionsDisclosureTextBlock_zNS5hrUMgeb3" style="font: bold 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt">Note 4 – Related Party Transactions RELATED PARTY TRANSACTIONS Founder Shares: During 2020, the Sponsor purchased <span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20200101__20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FounderSharesMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zYlV0Ohaon71" title="Purchase of ordinary shares">7,187,500 Class B Ordinary Shares (the “Founder Shares”) for $<span id="xdx_90A_eus-gaap--RelatedPartyTransactionPurchasesFromRelatedParty_c20200101__20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FounderSharesMember_zwBHv1NCdicl" title="Related party costs">25,000 (which amount was paid directly for organizational costs and costs of the Public Offering by the Sponsor on behalf of the Company), or approximately $0.003 per share. In January 2021, the Company effected a share capitalization resulting in there being an aggregate of 7,500,000 Founder Shares issued. The Founder Shares are substantially identical to Class A Ordinary Shares included in the Units sold in the Public Offering except that the Founder Shares that are currently still Class B Ordinary Shares will automatically convert into Class A Ordinary Shares, on a one-for-one basis, at the time of the initial Business Combination, or at any time prior thereto at the option of the holder, and are subject to certain transfer restrictions, as described in more detail below, and the Founder Shares are subject to vesting as follows: 50% upon the completion of a Business Combination and then 12.5% on each of the attainment of Return to Shareholders (as defined in the agreement) exceeding 20%, 30%, 40% and 50%. Certain events, as defined in the agreement, could trigger an immediate vesting under certain circumstances. Founder Shares that do not vest within an eight-year period from the closing of the Business Combination will be cancelled. The Sponsor agreed to forfeit up to <span id="xdx_900_ecustom--SharesSubjectToForfeiture_c20240101__20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FounderSharesMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zpXTrBcFJMn9" title="Shares subject to forfeiture">625,000 Founder Shares to the extent that the over-allotment option was not exercised in full by the underwriters. The underwriters exercised their over-allotment option in full and therefore such shares are no longer subject to forfeiture. In addition to the vesting provisions of the Founder Shares discussed in Note 7, the Company’s initial shareholders have agreed not to transfer, assign or sell any of their Founder Shares until the earlier of (A) one year after the completion of the Company’s initial Business Combination, or (B), subsequent to the Company’s initial Business Combination, if (x) the last sale price of the Company’s Class A Ordinary Shares equals or exceeds $12.00 per share (as adjusted for share splits, share dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after the Company’s initial Business Combination or (y) the date on which the Company completes a liquidation, merger, share exchange or other similar transaction after the initial Business Combination that results in all of the Company’s shareholders having the right to exchange their Ordinary Shares for cash, securities or other property. Private Placement Warrants: The Sponsor purchased from the Company an aggregate of 5,566,667 warrants at a price of $1.50 per warrant (a purchase price of $8,350,000) in a private placement that occurred simultaneously with the completion of the Public Offering (the “Private Placement Warrants”). Each Private Placement Warrant entitles the holder to purchase one Class A Ordinary Share at $<span id="xdx_901_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zKcT2VwtsTI1" title="Exercise price">11.50 per share. The purchase price of the Private Placement Warrants was added to the proceeds from the Public Offering, net of expenses of the offering and working capital to be available to the Company, to be held in the Trust Account pending completion of the Company’s initial Business Combination. The Private Placement Warrants (including the Class A Ordinary Shares issuable upon exercise of the Private Placement Warrants) will not be transferable, assignable or saleable until 30 days after the completion of the initial Business Combination and they will be non-redeemable so long as they are held by the Sponsor or its permitted transferees. If the Private Placement Warrants are held by someone other than the Sponsor or its permitted transferees, the Private Placement Warrants will be redeemable by the Company and exercisable by such holders on the same basis as the warrants included in the Units being sold in the Public Offering. Otherwise, the Private Placement Warrants have terms and provisions that are identical to those of the Redeemable Warrants being sold as part of the Units in the Public Offering and have no net cash settlement provisions. If the Company does not complete a Business Combination, then the proceeds from the sale of the Private Placement Warrants will be part of the liquidating distribution from the Trust Account to the Public Shareholders and the Private Placement Warrants issued to the Sponsor will expire worthless. Registration Rights: The Company’s initial shareholders and the holders of the Private Placement Warrants are entitled to registration rights pursuant to a registration and shareholder rights agreement. These holders will be entitled to make up to three demands, excluding short form registration demands, that the Company registers such securities for sale under the Securities Act. In addition, these holders will have piggyback registration rights to include their securities in other registration statements filed by the Company. The Company will bear the expenses incurred in connection with the filing of any such registration statements. There will be no penalties associated with delays in registering the securities under the registration and shareholder rights agreement. Related Party Loans: Sponsor loans - In November 2020, the Sponsor agreed to loan the Company up to an aggregate of $300,000 by drawdowns of not less than $1,000 each against the issuance of an unsecured promissory note (the “Note” or “Notes payable – related party”) to cover expenses related to the Public Offering. The Note was non-interest bearing and payable on the earlier of December 31, 2021 or the completion of the Public Offering. As of the closing date of the Public Offering, the Company had drawn down approximately $199,000 under the Note, including approximately $<span id="xdx_90F_eus-gaap--IncreaseDecreaseInNotesPayableRelatedPartiesCurrent_c20201101__20201130__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember_zU27uZm2agVf" title="Increase decrease in notes payable related parties current">49,000 of costs paid directly by the Sponsor, for costs related to costs of the Public Offering. On January 14, 2021, upon closing of the Public Offering, all amounts outstanding under the Note were repaid and the Note is no longer available to the Company. Sponsor working capital loans - On August 1, 2022, the Company issued a promissory note (the “August 1, 2022 Note” or “August 1, 2022 Notes payable – related party”) in the principal amount of up to $2,000,000 to its Sponsor. The August 1, 2022 Note was issued in connection with advances the Sponsor may make to the Company for expenses reasonably related to its business and the consummation of the Business Combination. The August 1, 2022 Note bears no interest and is due and payable upon the earlier to occur of (i) January 14, 2023 and (ii) the effective date of a merger, capital share exchange, asset acquisition, share purchase, reorganization or similar Business Combination. As of June 30, 2024 and December 31, 2023, the outstanding principal balance under the August 1, 2022 Note was $<span id="xdx_90F_eus-gaap--NotesPayableCurrent_iI_c20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember__us-gaap--DebtInstrumentAxis__custom--AugustOneTwoThousandTwentyTwoNoteMember_zFLvUH0fxmUe" title="Outstanding principal balance amount">755,000 and $<span id="xdx_900_eus-gaap--NotesPayableCurrent_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember__us-gaap--DebtInstrumentAxis__custom--AugustOneTwoThousandTwentyTwoNoteMember_zWlq0ePQPO62" title="Outstanding principal balance amount">755,000, respectively. On January 13, 2023, the Company and the Sponsor agreed to extend the date of maturity of the August 1, 2023 Note (as defined below) to the earlier of (i) the Termination Date, (ii) the consummation of a Business Combination of the Company and (iii) the liquidation of the Company. On January 3, 2023, the Company issued a promissory note (the “January 3, 2023 Note”) in the principal amount of up to $<span id="xdx_90D_eus-gaap--RelatedPartyTransactionAmountsOfTransaction_c20230103__20230103__us-gaap--DebtInstrumentAxis__custom--JanuaryThreeTwoThousandTwentyThreeNoteMember_ziRo4xdEOTh3" title="Principal amount">250,000 to its Sponsor. The January 3, 2023 Note was issued in connection with advances the Sponsor may make to the Company for expenses reasonably related to its business and the consummation of the Business Combination. The January 3, 2023 Note bears no interest and is due and payable upon the Business Combination. As of June 30, 2024, no amounts have been drawn down and there was no outstanding principal balance under the January 3, 2023 Note. At the election of the Sponsor or its registered assigns or successors in interest (the “Payee”), $250,000 of the unpaid principal amount of the January 3, 2023 Note may be converted into warrants of the Company, at a price of $<span id="xdx_90E_eus-gaap--WarrantExercisePriceDecrease_c20230103__20230103__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember__us-gaap--DebtInstrumentAxis__custom--JanuaryThreeTwoThousandTwentyThreeNoteMember_z518CPgAs7r4" title="Unpaid principal amount">1.50 per warrant, each warrant exercisable for one Class A Ordinary Share, of the Company. The warrants shall be identical to the Private Placement Warrants issued to the Sponsor at the time of the Company’s Public Offering. On January 13, 2023, the Company issued the promissory note (the “January 13, 2023 Note”) in the principal amount of up to $<span id="xdx_90D_eus-gaap--RelatedPartyTransactionAmountsOfTransaction_c20230113__20230113__us-gaap--DebtInstrumentAxis__custom--JanuaryThirteenTwoThousandTwentyThreeNoteMember_zHv87S1SqaHd" title="Principal amount">4,000,000, as amended on February 13, 2024, to its Sponsor. The January 13, 2023 Note was issued in connection with advances the Sponsor may make to the Company for contributions to the Trust Account in connection with the Extension and other expenses reasonably related to its business and the consummation of the Business Combination. The January 13, 2023 Note bears no interest and is due and payable upon the Business Combination. At the election of the Payee, up to $1,750,000 of the January 13, 2023 Note may be converted, at the option of the lender, into Warrants, at a price of $1.50 per warrant, each warrant exercisable for one Class A Ordinary Share of the Company. The Warrants shall be identical to the Private Placement Warrants issued to the Sponsor at the time of the Public Offering. During the three and six months ended June 30, 2024, the Company made drawdowns aggregating approximately $<span id="xdx_909_eus-gaap--PaymentsForProceedsFromDepositOnLoan_c20240401__20240630__us-gaap--DebtInstrumentAxis__custom--JanuaryThirteenTwoThousandTwentyThreeNoteMember_zHQzYGAC9cyl" title="Drawdowns amount">185,000 and $<span id="xdx_900_eus-gaap--PaymentsForProceedsFromDepositOnLoan_c20240101__20240630__us-gaap--DebtInstrumentAxis__custom--JanuaryThirteenTwoThousandTwentyThreeNoteMember_zGuqftQGAQZk" title="Drawdowns amount">646,000, respectively, under the January 13, 2023 Note, for working capital and in order to pay extension payments. During the three and six months ended June 30, 2023, the Company made drawdowns aggregating approximately $<span id="xdx_90A_eus-gaap--PaymentsForProceedsFromDepositOnLoan_c20230401__20230630__us-gaap--DebtInstrumentAxis__custom--JanuaryThirteenTwoThousandTwentyThreeNoteMember_zebJiUm6PV9" title="Drawdowns amount">506,000 and $<span id="xdx_900_eus-gaap--PaymentsForProceedsFromDepositOnLoan_c20230101__20230630__us-gaap--DebtInstrumentAxis__custom--JanuaryThirteenTwoThousandTwentyThreeNoteMember_zEBiagiPxGnk" title="Drawdowns amount">1,454,000, respectively, under the January 13, 2023 Note in order to pay extension payments and for working capital. The Company records such notes at par value and believes that the fair value of the conversion feature is not material based upon the trading price of the similarly termed Public Warrants. At June 30, 2024 and December 31, 2023, the outstanding principal balance under the January 13, 2023 Note was approximately $<span id="xdx_90E_eus-gaap--InvestmentOwnedBalancePrincipalAmount_iI_c20240630__us-gaap--DebtInstrumentAxis__custom--JanuaryThirteenTwoThousandTwentyThreeNoteMember_zWyFfKDcK06b" title="Outstanding principal balance">3,372,000 and $<span id="xdx_90D_eus-gaap--InvestmentOwnedBalancePrincipalAmount_iI_c20231231__us-gaap--DebtInstrumentAxis__custom--JanuaryThirteenTwoThousandTwentyThreeNoteMember_zjQfO3BJVyxh" title="Outstanding principal balance">2,726,000, respectively. Subsequent to June 30, 2024, as part of the Closing of the Business Combination, the Sponsor forgave the repayment of the promissory notes payable - related party (including the extension promissory note). Administrative Services Agreement: The Company has agreed to pay $25,000 a month to the Sponsor for office space and rent and for the services to be provided by one or more investment professionals, creation and maintenance of the Company’s website, and miscellaneous additional services. Services commenced on the date the securities are first listed on Nasdaq and will terminate upon the earlier of the consummation by the Company of an initial Business Combination or the liquidation of the Company. On June 30, 2024, the Sponsor waived the administrative fee payable. General and administrative expenses include a credit of $350,000 and $275,000 for the three and six months ended June 30, 2024, respectively for this waiver. General and administrative expenses include a charge of $75,000 and $150,000 for the three and six months ended June 30, 2023, respectively for this agreement. As at June 30, 2024 and December 31, 2023, $ 0 and $ 275,000, respectively, were due to the Sponsor.

7187500

25000

0.003

7500000 Founder Shares are subject to vesting as follows: 50% upon the completion of a Business Combination and then 12.5% on each of the attainment of Return to Shareholders (as defined in the agreement) exceeding 20%, 30%, 40% and 50%. Certain events, as defined in the agreement, could trigger an immediate vesting under certain circumstances. Founder Shares that do not vest within an eight-year period from the closing of the Business Combination will be cancelled. 625000

12.00

P20D P30D P150D

5566667

1.50

8350000

11.50

300000

1000

199000

49000

2000000

755000

250000

1.50

4000000

1750000

1.50

185000

646000

506000

1454000

3372000

2726000

25000

350000 275000

75000

150000

275000

<p id="xdx_80C_ecustom--AccountingForWarrantLiabilityTextBlock_ze8ZCA2NMvY4" style="font: bold 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt">Note 5 – Accounting for Warrant Liability ACCOUNTING FOR WARRANT LIABILITY At June 30, 2024 and December 31, 2023, there were 10,557,453 and 11,221,954 warrants, respectively, outstanding including 4,990,786 Public Warrants and 5,566,667 Private Placement Warrants outstanding at June 30, 2024 and 5,655,286 Public Warrants and 5,566,667 Private Placement Warrants outstanding at December 31, 2023. An aggregate of 4,977,576 of the original 5,000,000 contingent redeemable warrants that would have been exercisable by the former holders of the <span id="xdx_907_eus-gaap--TemporaryEquitySharesOutstanding_iI_pid_c20240630__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zdLHEUaIGXr2" title="Ordinary shares redeemed">1,660,035 Class A Ordinary Shares redeemed in June 2024, the <span id="xdx_90E_eus-gaap--TemporaryEquitySharesOutstanding_iI_pid_c20240131__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z99OIyEutYv7" title="Ordinary shares redeemed">2,137,134 Class A Ordinary Shares redeemed in January 2024 and the <span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_c20230131__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zJNY4pr4tqE4" title="Ordinary shares subject to possible redemption">26,068,281 Class A Ordinary Shares redeemed in January 2023 are no longer available for exercise. The Company’s warrants are not indexed to the Company’s Ordinary Shares in the manner contemplated by ASC Section 815-40-15 because the holder of the instrument is not an input into the pricing of a fixed-for-fixed option on equity shares. As such, the Company’s warrants are accounted for as warrant liabilities which are required to be valued at fair value at each reporting period. <p id="xdx_89D_eus-gaap--FairValueLiabilitiesMeasuredOnRecurringBasisTextBlock_zpAHxagjDtI8" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt">The following tables present information about the Company’s warrant liabilities that are measured at fair value on a recurring basis at June 30, 2024 and December 31, 2023 and indicate the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value: SCHEDULE OF WARRANT LIABILITIES THAT ARE MEASURED AT FAIR VALUE ON A RECURRING BASIS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Description</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zTQCpVoAYFpi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">At June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zj2ZKsRN9jr9" style="border-bottom: Black 1pt solid; text-align: center">Quoted price in active markets (level 1)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zS7tsERCgPjh" style="border-bottom: Black 1pt solid; text-align: center">Significant other observable input (level 2)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20240630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z2bz5Z90xHyl" style="border-bottom: Black 1pt solid; text-align: center">Significant other unobservable input (level 3)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Warrant liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--WarrantsAndRightsOutstanding_iI_hus-gaap--SubsidiarySaleOfStockAxis__custom--PublicWarrantsMember_zRS6UfVsEYjc" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 36%; text-align: left">Public warrants</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">904,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">904,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--WarrantsAndRightsOutstanding_iI_hus-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zX5F8yKRc5h7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 10pt; text-align: left">Private placement warrants</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,002,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,002,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--WarrantsAndRightsOutstanding_iI_zcuW9AAO4i9l" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; padding-left: 10pt">Warrant liability </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,906,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">904,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,002,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid">Description</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20231231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zUadanNZ7Hj6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">At December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20231231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zIIsvUChRWne" style="border-bottom: Black 1pt solid; text-align: center">Quoted price in active markets (level 1)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20231231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zWhHGZJcAwng" style="border-bottom: Black 1pt solid; text-align: center">Significant other observable input (level 2)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20231231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zXtNRZd1Efrd" style="border-bottom: Black 1pt solid; text-align: center">Significant other unobservable input (level 3)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Warrant liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--WarrantsAndRightsOutstanding_iI_hus-gaap--SubsidiarySaleOfStockAxis__custom--PublicWarrantsMember_zXIo68jlrUxl" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 36%; text-align: left">Public warrants</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">150,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">150,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--WarrantsAndRightsOutstanding_iI_hus-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zbcBKS2QzAda" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 10pt; text-align: left">Private placement warrants</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">187,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">187,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--WarrantsAndRightsOutstanding_iI_zQqO07rcDdWa" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; padding-left: 10pt">Warrant liability </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">337,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">150,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">187,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--WarrantsAndRightsOutstanding_iI_z8dQZIRJ8x9e" style="display: none; vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Warrant liability</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">337,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">150,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">187,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> </table> At June 30, 2024 and December 31, 2023 the Company valued its Public Warrants by reference to the publicly traded price of the Public Warrants. The Company valued its Private Placement Warrants based on the closing price of the Public Warrants since they are similar instruments. The warrant liabilities are not subject to qualified hedge accounting. The Company’s policy is to record transfers at the end of the reporting period. During the three months ended June 30, 2024 the Company transferred its Public Warrants from Level 2 to Level 1 based on the trading of the Public Warrants. During the three months ended March 31, 2024 the Company transferred its Public Warrants from Level 1 to Level 2 based on the trading of the Public Warrants. There were no transfers during the year ended December 31, 2023.

10557453

11221954

4990786

5566667

5655286

5566667

4977576 5000000

1660035

2137134

26068281

<p id="xdx_89D_eus-gaap--FairValueLiabilitiesMeasuredOnRecurringBasisTextBlock_zpAHxagjDtI8" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt">The following tables present information about the Company’s warrant liabilities that are measured at fair value on a recurring basis at June 30, 2024 and December 31, 2023 and indicate the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value: SCHEDULE OF WARRANT LIABILITIES THAT ARE MEASURED AT FAIR VALUE ON A RECURRING BASIS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Description</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zTQCpVoAYFpi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">At June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zj2ZKsRN9jr9" style="border-bottom: Black 1pt solid; text-align: center">Quoted price in active markets (level 1)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zS7tsERCgPjh" style="border-bottom: Black 1pt solid; text-align: center">Significant other observable input (level 2)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20240630__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z2bz5Z90xHyl" style="border-bottom: Black 1pt solid; text-align: center">Significant other unobservable input (level 3)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Warrant liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--WarrantsAndRightsOutstanding_iI_hus-gaap--SubsidiarySaleOfStockAxis__custom--PublicWarrantsMember_zRS6UfVsEYjc" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 36%; text-align: left">Public warrants</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">904,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">904,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--WarrantsAndRightsOutstanding_iI_hus-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zX5F8yKRc5h7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 10pt; text-align: left">Private placement warrants</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,002,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,002,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--WarrantsAndRightsOutstanding_iI_zcuW9AAO4i9l" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; padding-left: 10pt">Warrant liability </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,906,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">904,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,002,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid">Description</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20231231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zUadanNZ7Hj6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">At December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20231231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zIIsvUChRWne" style="border-bottom: Black 1pt solid; text-align: center">Quoted price in active markets (level 1)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20231231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zWhHGZJcAwng" style="border-bottom: Black 1pt solid; text-align: center">Significant other observable input (level 2)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20231231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zXtNRZd1Efrd" style="border-bottom: Black 1pt solid; text-align: center">Significant other unobservable input (level 3)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Warrant liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--WarrantsAndRightsOutstanding_iI_hus-gaap--SubsidiarySaleOfStockAxis__custom--PublicWarrantsMember_zXIo68jlrUxl" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 36%; text-align: left">Public warrants</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">150,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">150,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--WarrantsAndRightsOutstanding_iI_hus-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zbcBKS2QzAda" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 10pt; text-align: left">Private placement warrants</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">187,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">187,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--WarrantsAndRightsOutstanding_iI_zQqO07rcDdWa" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; padding-left: 10pt">Warrant liability </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">337,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">150,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">187,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--WarrantsAndRightsOutstanding_iI_z8dQZIRJ8x9e" style="display: none; vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Warrant liability</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">337,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">150,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">187,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> </table> At June 30, 2024 and December 31, 2023 the Company valued its Public Warrants by reference to the publicly traded price of the Public Warrants. The Company valued its Private Placement Warrants based on the closing price of the Public Warrants since they are similar instruments. The warrant liabilities are not subject to qualified hedge accounting. The Company’s policy is to record transfers at the end of the reporting period. During the three months ended June 30, 2024 the Company transferred its Public Warrants from Level 2 to Level 1 based on the trading of the Public Warrants. During the three months ended March 31, 2024 the Company transferred its Public Warrants from Level 1 to Level 2 based on the trading of the Public Warrants. There were no transfers during the year ended December 31, 2023.

904000

1002000

1906000

904000

1002000

150000

187000

337000

150000

187000

337000

150000

187000

Note 6 – Trust Account and Fair Value Measurement FAIR VALUE MEASUREMENTS The Company complies with FASB ASC 820 for its financial assets and liabilities that are re-measured and reported at fair value at each reporting period, and non-financial assets and liabilities that are re-measured and reported at fair value at least annually. Upon the closing of the Public Offering and the private placement, a total of $300,000,000 was deposited into the Trust Account. As further discussed in these notes to unaudited condensed consolidated financial statements, on June 27, 2024, in connection with the Special Meeting to approve Business Combination and other matters, holders of <span id="xdx_90E_ecustom--RedemptionOfCommonShares_c20240627__20240627__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zccqJK3mC5Di" title="Stock redeemed, shares">1,660,035 Class A Ordinary Shares exercised their right to redeem their shares for cash at a redemption price of approximately $<span id="xdx_901_ecustom--TemporaryEquityRedemptionPricePerShares_iI_c20240627__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zXpxgv1xchWk" title="Temporary equity redemption price per shares">11.38 per share, for an aggregate redemption amount of approximately $<span id="xdx_90B_eus-gaap--TemporaryEquityAggregateAmountOfRedemptionRequirement_iI_c20240627__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_znp8CoUHhgNj" title="Temporary equity aggregate amount of redemption requirement">18,893,209. Further, on January 9, 2024, in connection with the 2024 Extension Meeting, holders of <span id="xdx_90F_ecustom--RedemptionOfCommonShares_c20240109__20240109__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zIOjAYtr9Dv6" title="Stock redeemed, shares">2,137,134 Class A Ordinary Shares exercised their right to redeem their shares for cash at a redemption price of approximately $<span id="xdx_902_ecustom--TemporaryEquityRedemptionPricePerShares_iI_c20240109__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zqpy7go6irkj" title="Temporary equity redemption price per shares">11.05 per share, for an aggregate redemption amount of approximately $<span id="xdx_909_eus-gaap--TemporaryEquityAggregateAmountOfRedemptionRequirement_iI_c20240109__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zjqE7PBYB4De" title="Temporary equity aggregate amount of redemption requirement">23,615,000. Further, on January 11, 2023, in connection with the 2023 Extension Meeting, holders of <span id="xdx_904_eus-gaap--StockIssuedDuringPeriodValueStockOptionsExercised_c20230111__20230111__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesMember_zgZDv3Y1S071" title="Stock issued during period value stock options exercised">26,068,281 Class A Ordinary Shares exercised their right to redeem their shares for cash at $<span id="xdx_909_eus-gaap--TemporaryEquityRedemptionPricePerShare_iI_c20230111__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesMember_zqdYDepemL5h" title="Temporary equity redemption price per share">10.16 per share, for an aggregate redemption amount of approximately $<span id="xdx_900_eus-gaap--TemporaryEquityAccretionToRedemptionValueAdjustment_c20230111__20230111__us-gaap--StatementClassOfStockAxis__custom--ClassAOrdinarySharesMember_zRiNhSuhA8je" title="Temporary equity accretion to redemption value adjustment">265,050,000. The Company classifies its U.S. government treasury bills and equivalent securities (when it owns them) as held to maturity in accordance with FASB ASC 320, “Investments – Debt and Equity Securities.” Held-to-maturity securities are those securities which the Company has the ability and intent to hold until maturity. Money market funds are valued at market. The funds in the Trust Account were held in an interest-bearing cash account at June 30, 2024 and December 31, 2023.

300000000

1660035 11.38

18893209

2137134 11.05

23615000

26068281

10.16

265050000

Note 7 – Shareholders’ Deficit COMMON STOCK Ordinary Shares: The authorized Ordinary Shares include 500,000,000 Class A Ordinary Shares and 50,000,000 Class B Ordinary Shares or 550,000,000 Ordinary Shares in total. The Company may (depending on the terms of the Business Combination) be required to increase the authorized number of shares at the same time as its shareholders vote on the Business Combination to the extent the Company seeks shareholder approval in connection with its Business Combination. Except with respect to matters pertaining to directors prior to the Business Combination, holders of the Company’s Class A Ordinary Shares and Class B Ordinary Shares vote together as a single class and are entitled to one vote for each Class A Ordinary Shares and Class B Ordinary Shares. <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardDescription_c20240101__20240630_zCSytoe6f3vg" title="Share-based compensation arrangement by share-based payment award description">The Founder Shares are subject to vesting as follows: 50% upon the completion of a Business Combination and then an additional 12.5% on the attainment of each of a series of certain “shareholder return” targets exceeding 20%, 30%, 40% and 50%, as further defined in the agreement. Certain events, as defined in the agreement, could trigger an immediate vesting under certain circumstances. Founder Shares that do not vest within an eight-year period from the closing of the Business Combination will be cancelled. At June 30, 2024 and December 31, 2023, there were 100,000 and 7,500,000, respectively, Class B Ordinary Shares issued and outstanding, and 7,400,000 and 0, respectively, Class A Ordinary Shares issued and outstanding (after deducting 134,550 and 3,931,719, respectively, Class A Ordinary Shares subject to possible redemption at June 30, 2024 and December 31, 2023). Preference Shares: The Company is authorized to issue 5,000,000 preference shares, par value $0.0001 (the “Preference shares”), with such designations, voting and other rights and preferences as may be determined from time to time by the Company’s board of directors. At June 30, 2024 and December 31, 2023, there were no Preference shares issued or outstanding.

500000000

50000000

550000000

100000

7500000

7400000

134550

3931719

5000000

0.0001

Note 8 – Commitments and Contingencies COMMITMENTS AND CONTINGENCIES Business Combination Costs: In connection with identifying an initial Business Combination candidate and negotiating an initial Business Combination, the Company has entered into, and may enter into additional, engagement letters or agreements with various consultants, advisors, professionals and others. The services under these engagement letters and agreements are material in amount and in some instances include contingent or success fees. Contingent or success fees (but not deferred underwriting commission) would be charged to operations in the quarter that an initial Business Combination is consummated. In most instances (except with respect to the Company’s independent registered public accounting firm), these engagement letters and agreements are expected to specifically provide that such counterparties waive their rights to seek repayment from the funds in the Trust Account. Risks and Uncertainties: COVID-19 — Management continues to evaluate the impact of the COVID-19 pandemic on the industry and has concluded that while it is reasonably possible that the pandemic could have an effect on the Company’s unaudited condensed financial position, results of operations and/or search for a target company and/or a target company’s unaudited condensed financial position and results of its operations, the specific impact is not readily determinable as of the date of these unaudited condensed consolidated financial statements. These unaudited condensed consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. Bank Closures — Management acknowledges that the Company depends on a variety of U.S. and multi-national financial institutions for banking services. Market conditions can impact the viability of these institutions, which in effect will affect the Company’s ability to maintain and provide assurances that it can access its cash and cash equivalents in a timely manner or at all. Any inability to access or delay in accessing these funds could adversely affect the Company’s liquidity, business and financial condition. Ongoing Conflicts — The impact of ongoing and evolving military conflicts, including the invasion of Ukraine by Russia and the Israel-Hamas war, and economic sanctions and countermeasures on domestic and global economic and geopolitical conditions in general is not determinable as of the date of these condensed consolidated financial statements. PIPE Investment On June 20, 2024, GPAC II entered into subscription agreements (the “PIPE Subscription Agreements”) with a large institutional investor and two other investors (the “PIPE Investors”) pursuant to which the PIPE Investors agreed to purchase in a private placement, 1,077,541 shares of GPAC II common stock at a price of $9.35 per share, for an aggregate commitment amount of $10,075,000 (the “PIPE Investment”). The PIPE Subscription Agreements provide, among other things, that the PIPE Investment is conditioned upon the consummation of the transactions contemplated by the Business Combination Agreement. The purpose of the PIPE Investment is to raise additional capital for use by the Company following the consummation of the transactions contemplated by the Business Combination (the “Closing”). The PIPE Subscription Agreements contain customary representations and warranties for each of GPAC II and the PIPE Investors, and customary conditions to closing, including the consummation of the transactions contemplated by the Business Combination Agreement.

1077541

9.35

10075000

1271824

426497

1005109

2703430

1968

100000

218556

3023954

1256792

208107

2990

72967

1540856

5212200

5660

6758716

0.00001

15000000

9017300

58736

-3793585

-3734762

3023954

797019

2675698

-2675698

435000 466302 100000 450113

7111

7828

18556 212200

-1117887

-3793585

-0.43

8777571

9000000

495000

-300000 -1 -1

200

-3793585

58536

-177700

9017300

58736

-3793585

-3734762

9017300

58736

-3793585

-3734762

-3793585

58536

18556 212200

466302

426497

310281

208107

-2983206

100000

200000

1974

-301974

14850

5000000

1000000

435000

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909209 31302 6003

NOTE 1 — DESCRIPTION OF THE COMPANY Nature of Business Stardust Power Inc., (“the Company”, “Stardust Power”) which was incorporated on March 16, 2023, is a development stage company engaged in setting-up vertically integrated battery grade lithium production, designed to foster energy independence in the United States. While the Company has not earned any revenue yet, the Company is in the process of developing a strategically central, vertically integrated lithium refinery capable of producing up to 50,000 tons per annum of battery-grade lithium. Proposed business combination On November 21, 2023, the Company entered into a business combination agreement with Global Partner Acquisition Corp II (“GPAC II”), a Cayman Islands exempted company, Strike Merger Sub I, Inc. (First Merger Sub), a Delaware corporation and direct wholly-owned subsidiary of GPAC II, Strike Merger Sub II (Second Merger Sub), LLC, a Delaware limited liability company and direct wholly-owned subsidiary of GPAC II. Prior to the consummation of the Mergers, GPAC II will deregister as a Cayman Islands exempted company and domesticate as Delaware corporation. As per the business combination agreement, the First Merger Sub shall be merged into the Company, with the Company being the surviving corporation. Following the First Merger, the Company shall be merged into Second Merger Sub, with Second Merger Sub being the surviving entity. As per the business combination agreement: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top">Each share of Stardust Power Common Stock issued and outstanding immediately prior to the first effective time shall be converted into the right to receive the number of GPAC II common stock equal to the merger consideration divided by the number of shares of the Company fully-diluted stock. </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top">Each outstanding Stardust Power Option, whether vested or unvested, shall automatically convert into an option to purchase a number of shares of GPAC II common stock equal to the number of shares of GPAC II Common Stock subject to such Stardust Power Option immediately prior to the first effective time multiplied by the per share consideration. </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top">Each share of Stardust Power Restricted Stock outstanding immediately prior to the first effective time shall convert into a number of shares of GPAC II common stock equal to the number of shares of Stardust Power common stock subject to such Stardust Power restricted stock multiplied by the per share consideration. </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top">Additionally, GPAC II will issue <span id="xdx_906_eus-gaap--BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued_dc_c20231121__20231121__us-gaap--BusinessAcquisitionAxis__custom--GPACIIMember_zbOcZGJlrGkb" title="Shares issued as additional consideration">five million shares of GPAC II common stock to the holders of Stardust Power as additional merger consideration in the event that prior to the eighth (8th) anniversary of the closing of the business combination, the volume-weighted average price of GPAC II common stock is greater than or equal to $12.00 per share for a period of 20 trading days in any 30-trading day period or there is a change of control. </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top">Immediately prior to the closing of the business combination, the SAFEs will automatically convert into the number of shares of common stock of Stardust Power. </td></tr> </table> The business combination is expected to close in the first half of 2024, following the receipt of the required approval by GPAC II’s shareholders and the fulfillment or waiver of other customary closing conditions. Stardust Power Inc. and Subsidiary NOTES TO CONSOLIDATED FINANCIAL STATEMENTS For the period from March 16, 2023 (inception) through December 31, 2023

5000000

12.00

P20D P30D

NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The consolidated financial statements and related notes have been prepared on the accrual basis of accounting in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities Exchange Commission (“SEC”). The consolidated financial statements include the accounts of Stardust Power Inc. and its wholly owned subsidiary, Stardust Power LLC. All material intercompany balances have been eliminated upon consolidation. Stardust Power LLC was originally formed on December 5, 2022. Prior to March 16, 2023, Roshan Pujari was the sole member of Stardust Power LLC. On March 16, 2023, Roshan Pujari, the sole director and a controlling member of the Company, transferred his ownership in Stardust Power LLC to Stardust Power Inc. in exchange for nominal consideration. Prior to and following the acquisition, Roshan Pujari controlled both Stardust Power LLC and Stardust Power Inc. The Company’s predecessor entity, Stardust Power LLC, did not have any assets, liabilities, revenue, expenses or cash flows from December 5, 2022, through March 16, 2023. Therefore, the predecessor’s financial statements are not presented. These consolidated financial statements are presented in U.S. dollars. Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the amounts reported and disclosed in the consolidated financial statements and accompanying notes. Those estimates and assumptions include, but are not limited to, useful life of computer and equipment, realization of deferred tax assets, fair valuation of investment in equity securities and fair valuation of stock-based compensation and simple agreement for future equity note (“SAFE note”). The Company evaluates estimates and assumptions on an ongoing basis using historical experience and other factors and adjusts those estimates and assumptions when facts and circumstances dictate. As future events and their effects cannot be determined with precision, actual results could differ from these estimates, and those differences could be material to the consolidated financial statements. Going Concern The Company’s consolidated financial statements have been presented on the basis that it is a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company is a development stage entity having no revenues and has incurred net loss since inception of $3,793,585. The Company has an accumulated deficit of $3,793,585 and stockholders’ deficit of $3,734,762. The Company expects to continue to incur significant costs in pursuit of its operating and investment plans. These costs exceed the Company’s existing cash balance and net working capital. These conditions raise substantial doubt about its ability to continue as a going concern for one year from the issuance of these consolidated financial statements. The ability of the Company to continue as a going concern is dependent upon management’s plan to raise additional capital from issuance of equity or receive additional borrowings from the existing promissory notes from related parties or additional SAFE notes financing to fund the Company’s operating and investing activities over the next one year. In this regard, subsequent to the year-end, the Company has also signed a Financing Commitment and Equity Line of Credit Agreement with an investor whereby the investor has committed for an additional US$ 15 million of financing (refer note 16). Stardust Power Inc. and Subsidiary NOTES TO CONSOLIDATED FINANCIAL STATEMENTS For the period from March 16, 2023 (inception) through December 31, 2023 NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) These consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Significant Risks and Uncertainties Including Business and Credit Concentrations The Company is a newly incorporated company and has yet to construct its facility and commence production. As a result, the Company has a limited operating history upon which to evaluate the business and future prospects, which subjects it to a number of risks and uncertainties, including the ability to plan for and predict future growth. Since the Company’s founding, and acquisition of an option to purchase land for the establishment of the facility, the Company has made significant progress towards site due diligence, engineering and techno-economic analysis for assessing suitability of the land and location. The refinery designs, brine extraction and transportation process of the facility, process configurations, and control system of the facility are representative of an industrial-scale battery-grade lithium production facility. The Company expects that it will need to raise additional capital to support its development and commercialization activities. Significant risks and uncertainties to the Company’s operations include failing to secure additional funding and the threat of other companies developing and bringing to market similar technology at an earlier time than the Company. The Company’s cash balance is held at one financial institution. As such, as at December 31, 2023, cash held with the financial institution exceeded federally insured limits. Computer and Equipment Computer and equipment is stated at cost less accumulated depreciation and accumulated impairment loss. The Company depreciates computer and equipment using the straight-line method over the following estimated economic useful lives of the asset: SCHEDULE OF ESTIMATED USEFUL LIVES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left; text-indent: -12pt; padding-left: 12pt">Computer and equipment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right"><span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputerAndEquipmentMember__srt--RangeAxis__srt--MinimumMember_zwBq34AVu9rl" title="Estimated useful lives">3-<span id="xdx_909_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputerAndEquipmentMember__srt--RangeAxis__srt--MaximumMember_z1GCDUuVuCZ6" title="Estimated useful lives">5 years</td><td style="width: 1%; text-align: left"> </td></tr> </table> Impairment of Long-Lived Assets The Company evaluates long-lived assets for impairment whenever events or circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of long-lived assets to be held and used is measured by a comparison of the carrying amount of the asset to the estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized in the amount by which the carrying amount exceeds the fair value of the asset. Fair value is estimated at the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Stardust Power Inc. and Subsidiary NOTES TO CONSOLIDATED FINANCIAL STATEMENTS For the period from March 16, 2023 (inception) through December 31, 2023 NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) Stock-based Compensation The Company records stock-based compensation in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 718, “Stock Compensation”. When equity-settled stock-based awards are provided to directors, officers, employees, consultants and other advisors, these stock-based awards are measured at the fair value of the equity instrument at the grant date in accordance with ASC 718. Fair value is determined using an appropriate valuation model. The fair value of the Company’s stock options are measured based on the grant-date fair value which is calculated using a Black-Scholes option pricing model. The fair value of the stock-based compensation is recognized on a straight-line basis over the requisite service period, which is generally the vesting period. The Company recognizes the effect of forfeitures in the period they occur. At the election of the grantees, the stock options granted by the Company are early exercisable at any time from the date of grant but are subject to a repurchase right, under which the Company may buy back any unvested shares in the event of an employee’s termination prior to full vesting at lower of original exercise price or fair market value as on the date the Company delivers the Repurchase Notice. The consideration received for an early exercise of an unvested option is considered as deposit of the exercise price and the related amount is recorded as a liability. The liabilities are reclassified into common stock and additional paid-in capital as the awards vest. The shares are included in common stock on the consolidated statements of stockholders’ equity (deficit) as at December 31, 2023, and are not included in the calculation of basic net loss per share attributable to common stockholders for the period ended December 31, 2023. However, the early exercised shares are included in calculation of diluted net loss per share attributable to common stockholders for the period ended December 31, 2023 to the extent they are not anti-dilutive. As at December 31, 2023, 288,333 shares issued against early exercised stock options and <span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iI_pid_c20230316__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zf6AQu3w3I6c" title="Share issued against exercised stock options">68,125 shares issued against restricted stock remain subject to the Company’s repurchase right. Fair Value of Measurement ASC 820, “Fair Value Measurement”, defines fair value as the amount at which an instrument could be exchanged in an orderly transaction between market participants at the measurement date (the exit price). ASC 820 establishes a fair value hierarchy based on the inputs used to measure fair value. The fair value hierarchy maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability based on market data obtained from independent sources. Unobservable inputs reflect management’s assumptions that market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. There are three fair value hierarchies based upon the level of inputs that are significant to fair value measurement: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top">Level 1 — Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top">Level 2 — Observable inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data by correlation or other means. </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top">Level 3 — Prices or valuation techniques requiring inputs that are both significant to the fair value measurement and unobservable. </td></tr> </table> The carrying amounts of certain financial assets and liabilities, including other current assets and accounts payable approximate fair value because of the short maturity and liquidity of those instruments. Stardust Power Inc. and Subsidiary NOTES TO CONSOLIDATED FINANCIAL STATEMENTS For the period from March 16, 2023 (inception) through December 31, 2023 NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) Income Taxes The Company records income taxes using the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the Company’s consolidated financial statements or tax returns. Deferred tax assets and liabilities are measured using the tax rates that are expected to apply to taxable income for the years in which those tax assets and liabilities are expected to be realized or settled. The Company nets the deferred tax assets and deferred tax liabilities from temporary differences arising from a particular tax-paying component of the Company within the same tax jurisdiction and presents the net asset or liability as long term. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the consolidated statement of operations in the period that includes the enactment date. Valuation allowances are provided when necessary to reduce deferred tax assets to the amount expected to be realized. The Company recognizes tax benefits from uncertain tax positions if it is more likely than not that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. Although the Company believes that it has adequately reserved for uncertain tax positions, the Company can provide no assurance that the final tax outcome of these matters will not be materially different. The Company makes adjustment to these reserves when facts and circumstances change, such as the closing of a tax audit or the refinement of an estimate. To the extent that the final outcome of these matters is different than the amounts recorded, such differences will affect the provision for income taxes in the period in which such determination is made and could have a material impact on our financial condition and results of operations. The Company elects to record interest accrued and penalties related to unrecognized tax benefits in the consolidated statement of operations as a component of provision for income taxes. Leases At the inception of a contract, the Company assesses whether the contract is, or contains, a lease. The Company’s assessment is based on whether: (1) the contract involves the use of a distinct identified asset, (2) the Company obtains the right to substantially all the economic benefit from the use of the asset throughout the term of the contract, and (3) the Company has the right to direct the use of the asset. Leases are classified as either finance leases or operating leases. A lease is classified as a finance lease if any one of the following criteria are met: (1) the lease transfers ownership of the asset by the end of the lease term, (2) the lease contains an option to purchase the asset that is reasonably certain to be exercised, (3) the lease term is for a major part of the remaining useful life of the asset or (4) the present value of the lease payments equals or exceeds substantially all of the fair value of the asset, (5) the leased asset is so specialized that the asset will have little to no value at the end of the lease term. A lease is classified as an operating lease if it does not meet any one of the above criteria. The Company has elected the practical expedient to account for lease and non-lease components as a single lease component. The Company also elected not to record right of use assets and associated lease liabilities on the consolidated balance sheet for leases that have a term, including any reasonably assured renewal terms, of 12 months or less at the lease commencement date. The Company recognizes lease payments for these short-term leases in the consolidated statement of operations on a straight-line basis over the lease term and variable lease payments in the period in which the obligation for those payments is incurred. The Company has one short-term lease for office space in Oklahoma City, OK. Stardust Power Inc. and Subsidiary NOTES TO CONSOLIDATED FINANCIAL STATEMENTS For the period from March 16, 2023 (inception) through December 31, 2023 NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) Organizational Costs In accordance with ASC 720, “Other Expenses”, organizational costs, including accounting fees, legal and professional fees, and costs of incorporation, are expensed as incurred. The Company has incurred $75,136 of set-up costs expensed in the consolidated statement of operations representing pre-incorporation expenses for legal and professional consulting services related to start-up activities. Net Loss per Share Net (Loss) Income per Ordinary Share The Company adopted ASC 260, “Earnings per Share”, at its inception. Basic net loss per share is calculated by dividing the net loss by the weighted-average number of common stock outstanding for the period. Diluted loss per share is calculated by dividing the Company’s net loss available to common stockholders by the diluted weighted average number of shares outstanding for the period. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted as at the first of the year for any potentially dilutive debt or equity. The following table sets forth the computation of the basic and diluted net loss per share: SCHEDULE OF BASIC AND DILUTED NET LOSS PER SHARE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49F_20230316__20231231_zVY4rB9uQSh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Period from March 16, 2023 (inception) through December 31, 2023</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--NetIncomeLoss_z37YVl5RewYf" style="vertical-align: bottom; background-color: White"> <td style="width: 78%; text-align: left">Net loss</td><td style="width: 2%"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 18%; text-align: right">(3,793,585</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Weighted average shares outstanding</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,777,571</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Net loss per share, basic and diluted</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.43</td><td style="text-align: left">)</td></tr> </table> <p id="xdx_89D_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zhe69J59d2Ii" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The following potentially dilutive shares were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented, because including them would have had an anti-dilutive effect: SCHEDULE OF ANTI-DILUTIVE EFFECT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20230316__20231231_z9oADBsvSA8f" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_404_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_zzBVk0qW6Jdi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; text-indent: -12pt; padding-left: 12pt">Unvested common stock – shares (Note 3)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 20%; text-align: right">356,458</td><td style="width: 1%; text-align: left"> </td></tr> </table> SAFE notes SAFE notes represent instruments that provide a form of financing to the Company and possess characteristics of both a debt and equity instrument. The Company accounts for the SAFE note in accordance with the guidance in ASC 480, “Distinguishing Liabilities from Equity” and ASC 815-40, “Derivatives and Hedging”. For the SAFE notes currently outstanding as at December 31, 2023, the Company first assessed whether the instrument meets the definition of a liability under ASC 480. The SAFE note includes terms that would affect the conversion of the note into shares based on the next round of financing. Since the instrument neither represents, nor is it indexed to an obligation to repurchase its own shares, the instrument does not represent any conditional obligation to settle the fixed monetary amount of the debt in a variable number of shares, the instrument is not a liability under ASC 480. The Company then assessed whether the instrument represents either an equity, derivative or a liability instrument per the guidance under ASC 815-40 and noted that due to the contingent settlement essentially representing a repayment of a fixed monetary amount, it would neither represent an instrument indexed to its own equity nor would it meet the definition of a derivative. Therefore, the note would be accounted for as a liability which requires initial and subsequent measurements at fair value. This liability is subject to re-measurement at each balance sheet date until a triggering event, equity financing, change in control or dissolution occurs, and any change in fair value is recognized in the Company’s consolidated statements of operations. Stardust Power Inc. and Subsidiary NOTES TO CONSOLIDATED FINANCIAL STATEMENTS For the period from March 16, 2023 (inception) through December 31, 2023 NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) The fair value estimate includes significant inputs not observable in market, which represents a Level 3 measurement within the fair value hierarchy. The valuation uses probabilities considering pay-offs under various scenarios as follows: (i) an equity financing where the SAFE notes will convert into preferred stock; (ii) a SPAC transaction or an initial public offering where the SAFE notes will convert into common stock (iii) a change in control where the SAFE notes holders will have an option to receive a portion of the cash and other assets equal to the purchase amount and (iv) dissolution event where the SAFE note holders will be entitled to the purchase amount subject to liquidation priority. Issuance costs, which totaled approximately $466,302, were expensed as incurred and presented separately in the consolidated statement of operations. Deferred Transaction Costs In accordance with ‘Codification of Staff Accounting Bulletins — Topic 5: Miscellaneous Accounting A. Expenses of Offering’ (“SAB Topic 5”), public offering related costs, including legal fee, advisory and consulting fee, are deferred till consummation/ completion of the proposed public offering. The Company has deferred $1,005,109 of related costs incurred towards proposed public offering which are presented within current asset in the consolidated balance sheet as at December 31, 2023. Upon completion of the public offering contemplated herein, these amounts will be recorded as a reduction of stockholders’ equity as an offset against the proceeds of the offering. If the offering is terminated, the deferred offering costs will be expensed. Commitments and Contingencies Certain conditions may exist as at the date the consolidated financial statements are issued, which may result in a loss to the Company but which will only be resolved when one or more future events occur or fail to occur. The Company assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. The Company monitors the arrangements that are subject to guarantees in order to identify if the obligor who is responsible for making the payments fails to do so. If the Company determines it is probable that a loss has occurred, then any such estimable loss would be recognized under those guarantees. The methodology used to estimate potential loss related to guarantees considers the guarantee amount and a variety of factors, which include, depending on the counterparty, latest financial position of counterparty, actual defaults, historical defaults, and other economic conditions. Management does not believe, based upon information available at this time, that these matters will have a material adverse effect on the Company’s financial position, results of operations or cash flows. However, there is no assurance that such matters will not materially and adversely affect the Company’s business, financial position, and results of operations or cash flows. Land Purchase Option The Company has an exclusive option purchase agreement with the City of Muskogee, Oklahoma for 66 acres of undeveloped tract (excluding wetlands and creeks). The option is scheduled to end on the earlier of February 29, 2024, the date the property is purchased, or the termination of the agreement by either party. The agreement allows for two, three-month extensions, provided that the Company is performing due diligence and pursuing permits and approvals. Non-refundable option payments of $25,000 and $75,000 were made on June 8, 2023, and October 10, 2023, respectively. The Company has capitalized these payments as pre-acquisition land costs as at December 31, 2023 because these payments would be credited against the full purchase price of the land upon acquisition. Subsequent to the year end, on January 10, 2024, the Company entered into an agreement to exercise the option and purchase the land for an additional amount of $1,562,030. Stardust Power Inc. and Subsidiary NOTES TO CONSOLIDATED FINANCIAL STATEMENTS For the period from March 16, 2023 (inception) through December 31, 2023 NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) General and Administrative Expenses General and administrative expenses primarily include compensation for consultants, and advisors, legal and professional service fees, business license and permit costs and other general overhead costs to support the Company’s operations. As at December 31, 2023, this balance includes $238,030 of legal and professional fees relating to preliminary costs of land acquisition, which are considered as expenses incurred in the preliminary stage of a project and are therefore expensed, as the recovery of those costs was not probable at the time they incurred. Advertising Costs Advertising costs are expensed as incurred and are included in general and administrative expenses, in accordance with ASC 720-35, “Other Expenses — Advertising Cost”. For the period from March 16, 2023 (inception) through December 31, 2023, the Company has recognized $34,858 in the general and administrative expenses line of the Company’s consolidated statements of operations. Other Transaction Costs Other transaction costs consist of $450,113 for the period from March 16, 2023 (inception) through December 31, 2023 and relate to costs that represent fees and expenses associated with evaluation of potential other merger opportunities that the Company ultimately did not execute. Investments in Equity Securities Investments in equity securities with readily determinable fair values are accounted in accordance with ASC 321, Investment in Equity Securities. These investments are recorded at cost and subsequently measured at fair value with changes in fair value recognized in the Company’s consolidated statement of operations. Recently Issued Accounting Pronouncements Not Yet Adopted Recent Accounting Pronouncements In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (ASU 2023-07), which requires that an entity disclose significant segment expenses impacting profit and loss that are regularly provided to the chief operating decision maker. The update is required to be applied retrospectively to prior periods presented, based on the significant segment expense categories identified and disclosed in the period of adoption. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company does not expect the adoption of ASU 2023-07 to have a material impact on its consolidated financial statements. Stardust Power Inc. and Subsidiary NOTES TO CONSOLIDATED FINANCIAL STATEMENTS For the period from March 16, 2023 (inception) through December 31, 2023 NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures (ASU 2023-09), which requires that an entity disclose specific categories in the effective tax rate reconciliation as well as provide additional information for reconciling items that meet a quantitative threshold. Further, the ASU requires certain disclosures of state versus federal income tax expense and taxes paid. This ASU is effective for fiscal years beginning after December 15, 2024. The Company does not expect the adoption of ASU 2023-09 to have a material impact on its consolidated financial statements.

Basis of Presentation The consolidated financial statements and related notes have been prepared on the accrual basis of accounting in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities Exchange Commission (“SEC”). The consolidated financial statements include the accounts of Stardust Power Inc. and its wholly owned subsidiary, Stardust Power LLC. All material intercompany balances have been eliminated upon consolidation. Stardust Power LLC was originally formed on December 5, 2022. Prior to March 16, 2023, Roshan Pujari was the sole member of Stardust Power LLC. On March 16, 2023, Roshan Pujari, the sole director and a controlling member of the Company, transferred his ownership in Stardust Power LLC to Stardust Power Inc. in exchange for nominal consideration. Prior to and following the acquisition, Roshan Pujari controlled both Stardust Power LLC and Stardust Power Inc. The Company’s predecessor entity, Stardust Power LLC, did not have any assets, liabilities, revenue, expenses or cash flows from December 5, 2022, through March 16, 2023. Therefore, the predecessor’s financial statements are not presented. These consolidated financial statements are presented in U.S. dollars.

Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the amounts reported and disclosed in the consolidated financial statements and accompanying notes. Those estimates and assumptions include, but are not limited to, useful life of computer and equipment, realization of deferred tax assets, fair valuation of investment in equity securities and fair valuation of stock-based compensation and simple agreement for future equity note (“SAFE note”). The Company evaluates estimates and assumptions on an ongoing basis using historical experience and other factors and adjusts those estimates and assumptions when facts and circumstances dictate. As future events and their effects cannot be determined with precision, actual results could differ from these estimates, and those differences could be material to the consolidated financial statements.

Going Concern The Company’s consolidated financial statements have been presented on the basis that it is a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company is a development stage entity having no revenues and has incurred net loss since inception of $3,793,585. The Company has an accumulated deficit of $3,793,585 and stockholders’ deficit of $3,734,762. The Company expects to continue to incur significant costs in pursuit of its operating and investment plans. These costs exceed the Company’s existing cash balance and net working capital. These conditions raise substantial doubt about its ability to continue as a going concern for one year from the issuance of these consolidated financial statements. The ability of the Company to continue as a going concern is dependent upon management’s plan to raise additional capital from issuance of equity or receive additional borrowings from the existing promissory notes from related parties or additional SAFE notes financing to fund the Company’s operating and investing activities over the next one year. In this regard, subsequent to the year-end, the Company has also signed a Financing Commitment and Equity Line of Credit Agreement with an investor whereby the investor has committed for an additional US$ 15 million of financing (refer note 16). Stardust Power Inc. and Subsidiary NOTES TO CONSOLIDATED FINANCIAL STATEMENTS For the period from March 16, 2023 (inception) through December 31, 2023 NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) These consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

-3793585

-3734762

15000000

Significant Risks and Uncertainties Including Business and Credit Concentrations The Company is a newly incorporated company and has yet to construct its facility and commence production. As a result, the Company has a limited operating history upon which to evaluate the business and future prospects, which subjects it to a number of risks and uncertainties, including the ability to plan for and predict future growth. Since the Company’s founding, and acquisition of an option to purchase land for the establishment of the facility, the Company has made significant progress towards site due diligence, engineering and techno-economic analysis for assessing suitability of the land and location. The refinery designs, brine extraction and transportation process of the facility, process configurations, and control system of the facility are representative of an industrial-scale battery-grade lithium production facility. The Company expects that it will need to raise additional capital to support its development and commercialization activities. Significant risks and uncertainties to the Company’s operations include failing to secure additional funding and the threat of other companies developing and bringing to market similar technology at an earlier time than the Company. The Company’s cash balance is held at one financial institution. As such, as at December 31, 2023, cash held with the financial institution exceeded federally insured limits.

Computer and Equipment Computer and equipment is stated at cost less accumulated depreciation and accumulated impairment loss. The Company depreciates computer and equipment using the straight-line method over the following estimated economic useful lives of the asset: SCHEDULE OF ESTIMATED USEFUL LIVES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left; text-indent: -12pt; padding-left: 12pt">Computer and equipment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right"><span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputerAndEquipmentMember__srt--RangeAxis__srt--MinimumMember_zwBq34AVu9rl" title="Estimated useful lives">3-<span id="xdx_909_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputerAndEquipmentMember__srt--RangeAxis__srt--MaximumMember_z1GCDUuVuCZ6" title="Estimated useful lives">5 years</td><td style="width: 1%; text-align: left"> </td></tr> </table>

SCHEDULE OF ESTIMATED USEFUL LIVES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left; text-indent: -12pt; padding-left: 12pt">Computer and equipment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right"><span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputerAndEquipmentMember__srt--RangeAxis__srt--MinimumMember_zwBq34AVu9rl" title="Estimated useful lives">3-<span id="xdx_909_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputerAndEquipmentMember__srt--RangeAxis__srt--MaximumMember_z1GCDUuVuCZ6" title="Estimated useful lives">5 years</td><td style="width: 1%; text-align: left"> </td></tr> </table>

P3Y

P5Y

Impairment of Long-Lived Assets The Company evaluates long-lived assets for impairment whenever events or circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of long-lived assets to be held and used is measured by a comparison of the carrying amount of the asset to the estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized in the amount by which the carrying amount exceeds the fair value of the asset. Fair value is estimated at the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Stardust Power Inc. and Subsidiary NOTES TO CONSOLIDATED FINANCIAL STATEMENTS For the period from March 16, 2023 (inception) through December 31, 2023 NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.)

Stock-based Compensation The Company records stock-based compensation in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 718, “Stock Compensation”. When equity-settled stock-based awards are provided to directors, officers, employees, consultants and other advisors, these stock-based awards are measured at the fair value of the equity instrument at the grant date in accordance with ASC 718. Fair value is determined using an appropriate valuation model. The fair value of the Company’s stock options are measured based on the grant-date fair value which is calculated using a Black-Scholes option pricing model. The fair value of the stock-based compensation is recognized on a straight-line basis over the requisite service period, which is generally the vesting period. The Company recognizes the effect of forfeitures in the period they occur. At the election of the grantees, the stock options granted by the Company are early exercisable at any time from the date of grant but are subject to a repurchase right, under which the Company may buy back any unvested shares in the event of an employee’s termination prior to full vesting at lower of original exercise price or fair market value as on the date the Company delivers the Repurchase Notice. The consideration received for an early exercise of an unvested option is considered as deposit of the exercise price and the related amount is recorded as a liability. The liabilities are reclassified into common stock and additional paid-in capital as the awards vest. The shares are included in common stock on the consolidated statements of stockholders’ equity (deficit) as at December 31, 2023, and are not included in the calculation of basic net loss per share attributable to common stockholders for the period ended December 31, 2023. However, the early exercised shares are included in calculation of diluted net loss per share attributable to common stockholders for the period ended December 31, 2023 to the extent they are not anti-dilutive. As at December 31, 2023, 288,333 shares issued against early exercised stock options and <span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iI_pid_c20230316__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zf6AQu3w3I6c" title="Share issued against exercised stock options">68,125 shares issued against restricted stock remain subject to the Company’s repurchase right.

288333

68125

Fair Value of Measurement ASC 820, “Fair Value Measurement”, defines fair value as the amount at which an instrument could be exchanged in an orderly transaction between market participants at the measurement date (the exit price). ASC 820 establishes a fair value hierarchy based on the inputs used to measure fair value. The fair value hierarchy maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability based on market data obtained from independent sources. Unobservable inputs reflect management’s assumptions that market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. There are three fair value hierarchies based upon the level of inputs that are significant to fair value measurement: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top">Level 1 — Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top">Level 2 — Observable inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data by correlation or other means. </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top">Level 3 — Prices or valuation techniques requiring inputs that are both significant to the fair value measurement and unobservable. </td></tr> </table> The carrying amounts of certain financial assets and liabilities, including other current assets and accounts payable approximate fair value because of the short maturity and liquidity of those instruments. Stardust Power Inc. and Subsidiary NOTES TO CONSOLIDATED FINANCIAL STATEMENTS For the period from March 16, 2023 (inception) through December 31, 2023 NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.)

Income Taxes The Company records income taxes using the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the Company’s consolidated financial statements or tax returns. Deferred tax assets and liabilities are measured using the tax rates that are expected to apply to taxable income for the years in which those tax assets and liabilities are expected to be realized or settled. The Company nets the deferred tax assets and deferred tax liabilities from temporary differences arising from a particular tax-paying component of the Company within the same tax jurisdiction and presents the net asset or liability as long term. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the consolidated statement of operations in the period that includes the enactment date. Valuation allowances are provided when necessary to reduce deferred tax assets to the amount expected to be realized. The Company recognizes tax benefits from uncertain tax positions if it is more likely than not that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. Although the Company believes that it has adequately reserved for uncertain tax positions, the Company can provide no assurance that the final tax outcome of these matters will not be materially different. The Company makes adjustment to these reserves when facts and circumstances change, such as the closing of a tax audit or the refinement of an estimate. To the extent that the final outcome of these matters is different than the amounts recorded, such differences will affect the provision for income taxes in the period in which such determination is made and could have a material impact on our financial condition and results of operations. The Company elects to record interest accrued and penalties related to unrecognized tax benefits in the consolidated statement of operations as a component of provision for income taxes.

Leases At the inception of a contract, the Company assesses whether the contract is, or contains, a lease. The Company’s assessment is based on whether: (1) the contract involves the use of a distinct identified asset, (2) the Company obtains the right to substantially all the economic benefit from the use of the asset throughout the term of the contract, and (3) the Company has the right to direct the use of the asset. Leases are classified as either finance leases or operating leases. A lease is classified as a finance lease if any one of the following criteria are met: (1) the lease transfers ownership of the asset by the end of the lease term, (2) the lease contains an option to purchase the asset that is reasonably certain to be exercised, (3) the lease term is for a major part of the remaining useful life of the asset or (4) the present value of the lease payments equals or exceeds substantially all of the fair value of the asset, (5) the leased asset is so specialized that the asset will have little to no value at the end of the lease term. A lease is classified as an operating lease if it does not meet any one of the above criteria. The Company has elected the practical expedient to account for lease and non-lease components as a single lease component. The Company also elected not to record right of use assets and associated lease liabilities on the consolidated balance sheet for leases that have a term, including any reasonably assured renewal terms, of 12 months or less at the lease commencement date. The Company recognizes lease payments for these short-term leases in the consolidated statement of operations on a straight-line basis over the lease term and variable lease payments in the period in which the obligation for those payments is incurred. The Company has one short-term lease for office space in Oklahoma City, OK. Stardust Power Inc. and Subsidiary NOTES TO CONSOLIDATED FINANCIAL STATEMENTS For the period from March 16, 2023 (inception) through December 31, 2023 NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.)

Organizational Costs In accordance with ASC 720, “Other Expenses”, organizational costs, including accounting fees, legal and professional fees, and costs of incorporation, are expensed as incurred. The Company has incurred $75,136 of set-up costs expensed in the consolidated statement of operations representing pre-incorporation expenses for legal and professional consulting services related to start-up activities.

75136

Net Loss per Share Net (Loss) Income per Ordinary Share The Company adopted ASC 260, “Earnings per Share”, at its inception. Basic net loss per share is calculated by dividing the net loss by the weighted-average number of common stock outstanding for the period. Diluted loss per share is calculated by dividing the Company’s net loss available to common stockholders by the diluted weighted average number of shares outstanding for the period. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted as at the first of the year for any potentially dilutive debt or equity. The following table sets forth the computation of the basic and diluted net loss per share: SCHEDULE OF BASIC AND DILUTED NET LOSS PER SHARE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49F_20230316__20231231_zVY4rB9uQSh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Period from March 16, 2023 (inception) through December 31, 2023</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--NetIncomeLoss_z37YVl5RewYf" style="vertical-align: bottom; background-color: White"> <td style="width: 78%; text-align: left">Net loss</td><td style="width: 2%"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 18%; text-align: right">(3,793,585</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Weighted average shares outstanding</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,777,571</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Net loss per share, basic and diluted</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.43</td><td style="text-align: left">)</td></tr> </table> <p id="xdx_89D_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zhe69J59d2Ii" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The following potentially dilutive shares were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented, because including them would have had an anti-dilutive effect: SCHEDULE OF ANTI-DILUTIVE EFFECT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20230316__20231231_z9oADBsvSA8f" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_404_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_zzBVk0qW6Jdi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; text-indent: -12pt; padding-left: 12pt">Unvested common stock – shares (Note 3)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 20%; text-align: right">356,458</td><td style="width: 1%; text-align: left"> </td></tr> </table>

The following table sets forth the computation of the basic and diluted net loss per share: SCHEDULE OF BASIC AND DILUTED NET LOSS PER SHARE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49F_20230316__20231231_zVY4rB9uQSh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Period from March 16, 2023 (inception) through December 31, 2023</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--NetIncomeLoss_z37YVl5RewYf" style="vertical-align: bottom; background-color: White"> <td style="width: 78%; text-align: left">Net loss</td><td style="width: 2%"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 18%; text-align: right">(3,793,585</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Weighted average shares outstanding</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,777,571</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Net loss per share, basic and diluted</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.43</td><td style="text-align: left">)</td></tr> </table>

-3793585

8777571

-0.43

<p id="xdx_89D_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zhe69J59d2Ii" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The following potentially dilutive shares were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented, because including them would have had an anti-dilutive effect: SCHEDULE OF ANTI-DILUTIVE EFFECT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20230316__20231231_z9oADBsvSA8f" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_404_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_zzBVk0qW6Jdi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; text-indent: -12pt; padding-left: 12pt">Unvested common stock – shares (Note 3)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 20%; text-align: right">356,458</td><td style="width: 1%; text-align: left"> </td></tr> </table>

356458

SAFE notes SAFE notes represent instruments that provide a form of financing to the Company and possess characteristics of both a debt and equity instrument. The Company accounts for the SAFE note in accordance with the guidance in ASC 480, “Distinguishing Liabilities from Equity” and ASC 815-40, “Derivatives and Hedging”. For the SAFE notes currently outstanding as at December 31, 2023, the Company first assessed whether the instrument meets the definition of a liability under ASC 480. The SAFE note includes terms that would affect the conversion of the note into shares based on the next round of financing. Since the instrument neither represents, nor is it indexed to an obligation to repurchase its own shares, the instrument does not represent any conditional obligation to settle the fixed monetary amount of the debt in a variable number of shares, the instrument is not a liability under ASC 480. The Company then assessed whether the instrument represents either an equity, derivative or a liability instrument per the guidance under ASC 815-40 and noted that due to the contingent settlement essentially representing a repayment of a fixed monetary amount, it would neither represent an instrument indexed to its own equity nor would it meet the definition of a derivative. Therefore, the note would be accounted for as a liability which requires initial and subsequent measurements at fair value. This liability is subject to re-measurement at each balance sheet date until a triggering event, equity financing, change in control or dissolution occurs, and any change in fair value is recognized in the Company’s consolidated statements of operations. Stardust Power Inc. and Subsidiary NOTES TO CONSOLIDATED FINANCIAL STATEMENTS For the period from March 16, 2023 (inception) through December 31, 2023 NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) The fair value estimate includes significant inputs not observable in market, which represents a Level 3 measurement within the fair value hierarchy. The valuation uses probabilities considering pay-offs under various scenarios as follows: (i) an equity financing where the SAFE notes will convert into preferred stock; (ii) a SPAC transaction or an initial public offering where the SAFE notes will convert into common stock (iii) a change in control where the SAFE notes holders will have an option to receive a portion of the cash and other assets equal to the purchase amount and (iv) dissolution event where the SAFE note holders will be entitled to the purchase amount subject to liquidation priority. Issuance costs, which totaled approximately $466,302, were expensed as incurred and presented separately in the consolidated statement of operations. 466302 Deferred Transaction Costs In accordance with ‘Codification of Staff Accounting Bulletins — Topic 5: Miscellaneous Accounting A. Expenses of Offering’ (“SAB Topic 5”), public offering related costs, including legal fee, advisory and consulting fee, are deferred till consummation/ completion of the proposed public offering. The Company has deferred $1,005,109 of related costs incurred towards proposed public offering which are presented within current asset in the consolidated balance sheet as at December 31, 2023. Upon completion of the public offering contemplated herein, these amounts will be recorded as a reduction of stockholders’ equity as an offset against the proceeds of the offering. If the offering is terminated, the deferred offering costs will be expensed.

1005109

Commitments and Contingencies Certain conditions may exist as at the date the consolidated financial statements are issued, which may result in a loss to the Company but which will only be resolved when one or more future events occur or fail to occur. The Company assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. The Company monitors the arrangements that are subject to guarantees in order to identify if the obligor who is responsible for making the payments fails to do so. If the Company determines it is probable that a loss has occurred, then any such estimable loss would be recognized under those guarantees. The methodology used to estimate potential loss related to guarantees considers the guarantee amount and a variety of factors, which include, depending on the counterparty, latest financial position of counterparty, actual defaults, historical defaults, and other economic conditions. Management does not believe, based upon information available at this time, that these matters will have a material adverse effect on the Company’s financial position, results of operations or cash flows. However, there is no assurance that such matters will not materially and adversely affect the Company’s business, financial position, and results of operations or cash flows.

Land Purchase Option The Company has an exclusive option purchase agreement with the City of Muskogee, Oklahoma for 66 acres of undeveloped tract (excluding wetlands and creeks). The option is scheduled to end on the earlier of February 29, 2024, the date the property is purchased, or the termination of the agreement by either party. The agreement allows for two, three-month extensions, provided that the Company is performing due diligence and pursuing permits and approvals. Non-refundable option payments of $25,000 and $75,000 were made on June 8, 2023, and October 10, 2023, respectively. The Company has capitalized these payments as pre-acquisition land costs as at December 31, 2023 because these payments would be credited against the full purchase price of the land upon acquisition. Subsequent to the year end, on January 10, 2024, the Company entered into an agreement to exercise the option and purchase the land for an additional amount of $1,562,030. Stardust Power Inc. and Subsidiary NOTES TO CONSOLIDATED FINANCIAL STATEMENTS For the period from March 16, 2023 (inception) through December 31, 2023 NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.)

25000

75000

1562030

General and Administrative Expenses General and administrative expenses primarily include compensation for consultants, and advisors, legal and professional service fees, business license and permit costs and other general overhead costs to support the Company’s operations. As at December 31, 2023, this balance includes $238,030 of legal and professional fees relating to preliminary costs of land acquisition, which are considered as expenses incurred in the preliminary stage of a project and are therefore expensed, as the recovery of those costs was not probable at the time they incurred.

238030

Advertising Costs Advertising costs are expensed as incurred and are included in general and administrative expenses, in accordance with ASC 720-35, “Other Expenses — Advertising Cost”. For the period from March 16, 2023 (inception) through December 31, 2023, the Company has recognized $34,858 in the general and administrative expenses line of the Company’s consolidated statements of operations.

34858

Other Transaction Costs Other transaction costs consist of $450,113 for the period from March 16, 2023 (inception) through December 31, 2023 and relate to costs that represent fees and expenses associated with evaluation of potential other merger opportunities that the Company ultimately did not execute.

450113

Investments in Equity Securities Investments in equity securities with readily determinable fair values are accounted in accordance with ASC 321, Investment in Equity Securities. These investments are recorded at cost and subsequently measured at fair value with changes in fair value recognized in the Company’s consolidated statement of operations.

Recently Issued Accounting Pronouncements Not Yet Adopted Recent Accounting Pronouncements In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (ASU 2023-07), which requires that an entity disclose significant segment expenses impacting profit and loss that are regularly provided to the chief operating decision maker. The update is required to be applied retrospectively to prior periods presented, based on the significant segment expense categories identified and disclosed in the period of adoption. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company does not expect the adoption of ASU 2023-07 to have a material impact on its consolidated financial statements. Stardust Power Inc. and Subsidiary NOTES TO CONSOLIDATED FINANCIAL STATEMENTS For the period from March 16, 2023 (inception) through December 31, 2023 NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures (ASU 2023-09), which requires that an entity disclose specific categories in the effective tax rate reconciliation as well as provide additional information for reconciling items that meet a quantitative threshold. Further, the ASU requires certain disclosures of state versus federal income tax expense and taxes paid. This ASU is effective for fiscal years beginning after December 15, 2024. The Company does not expect the adoption of ASU 2023-09 to have a material impact on its consolidated financial statements.

NOTE 3 — STOCK-BASED COMPENSATION Shares Issued at Inception At March 16, 2023 (inception), certain employees and service providers participated in the purchase of restricted common stock of the Company aggregating to 550,000 shares. Out of the total, certain restricted stocks vested immediately and remaining unvested restricted stock aggregating to 259,000 shares vests over 24 months subject to service conditions and accelerated vesting upon certain events. The agreements also contain a repurchase option noting that if the employee or service provider is terminated, for any reason, the Company has the right and option to repurchase the service provider’s unvested restricted common stock. Separate and apart from this repurchase option for unvested awards, if at any time holders of vested shares intend to sell or transfer, their holdings to a third-party (other than permitted family transfers), the Company has a option to exercise a right of first refusal (‘ROFR’) to purchase these subject shares at the intended negotiated price between the holder and the third-party. The ROFR would remain active until the earlier of an initial public offering of the Company’s common stock or the occurrence of the defined change in control event. The ROFR is also present in shares issued pursuant to early exercise of options under the 2023 Equity incentive plan. The existence of the ROFR does not affect the equity classification for the Company’s share based awards as the possibility of triggering event for ROFR within 6 months of vesting is remote. Since all shareholders purchased the shares at par value of $0.00001 and the shares had no incremental value beyond the par value as at that date, during the period from March 16, 2023 (inception) through December 31, 2023, the stock-based compensation expense impact is insignificant. As at December 31, 2023, 68,125 outstanding shares have not vested and the weighted average remaining contractual period of the unvested restricted stock is 1.25 years. Any shares subject to repurchase by the Company are not deemed, for accounting purposes, to be outstanding until those shares vest. The amount to be recorded as liabilities associated with these shares issued with repurchase rights were immaterial as at December 31, 2023. During the period from March 16, 2023 (inception) through December 31, 2023, the Company received the amount totaling $6 relating to these restricted shares purchased by grantees. Abi Adeoti, former Chief Financial Officer, resigned with his contract terminating as at December 14, 2023. As on the termination date, the Company repurchased and retired unvested restricted stock of 100,000 shares and vested restricted stock of 177,700 shares at the original exercise price of $0.00001 out of the total restricted stock of 300,000 shares granted to him on March 16, 2023. The Company paid a total amount of $<span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures_c20240101__20240131__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zO7DOmgMxS2g" title="Restricted shares value">3 for the repurchase of these shares from Abi Adeoti in January, 2024. The repurchase of vested shares is considered as the settlement of the awards as the repurchase amount is determinable and there is no future service period requirement. The repurchase price was less than the fair value of the shares on the repurchase date and, therefore, there was no stock-based compensation expense impact for this repurchase. Stardust Power Inc. and Subsidiary NOTES TO CONSOLIDATED FINANCIAL STATEMENTS For the period from March 16, 2023 (inception) through December 31, 2023 NOTE 3 — STOCK-BASED COMPENSATION (cont.) Restricted stock activity for the period between March 16, 2023 (inception) and December 31, 2023 and balances as at the end of December 31, 2023 were as follows: SCHEDULE OF RESTRICTED STOCK ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Restricted Stock</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of shares</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted-Average Grant-Date Fair Value</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Granted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20230316__20231231_zjFAphmu7Lzc" style="width: 16%; text-align: right" title="Number of shares, Granted">550,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20230316__20231231_zUJmIBYG8F8a" style="width: 16%; text-align: right" title="Weighted Average Grant Date Fair Value - Granted">0.00001</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_di_c20230316__20231231_z8Tsa9wGwwa5" style="text-align: right" title="Number of shares, Vested">(381,875</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pid_c20230316__20231231_zG6NHSAFP4Ui" style="text-align: right" title="Weighted Average Grant Date Fair Value - Vested">0.00001</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Forfeited</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: right"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_di_c20230316__20231231_zuT83lpp2yXb" style="border-bottom: Black 1pt solid; text-align: right" title="Number of shares, Forfeited">(100,000</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20230316__20231231_z4i4QNHdXkag" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Grant Date Fair Value - Forfeited">0.00001</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Unvested as at December 31, 2023</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: right"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20230316__20231231_zBZozRvHGamb" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares, Unvested">68,125</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20230316__20231231_zCLPQbpmPSu3" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Grant Date Fair Value - Unvested">0.00001</td><td style="text-align: left"> </td></tr> </table> Equity Incentive Plan At March 16, 2023 (inception), the Company’s stockholders approved the 2023 Equity Incentive Plan and 500,000 shares of the Company’s common stock have been reserved for issuance under the plan. During October and November, 2023, the Company granted options for 495,000 shares of stock options under the 2023 Equity Incentive Plan: <span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20231001__20231031__srt--TitleOfIndividualAxis__custom--EmployeeMember_zbJHNZsyEzae" title="Shares granted"><span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20231101__20231130__srt--TitleOfIndividualAxis__custom--EmployeeMember_zdC5fT8Hdgrd" title="Shares granted">475,000 options were granted to employees and <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20231001__20231031__srt--TitleOfIndividualAxis__custom--ConsultantMember_z5GV2aITIwKj" title="Shares granted"><span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20231101__20231130__srt--TitleOfIndividualAxis__custom--ConsultantMember_zuucfYk86VT7" title="Shares granted">20,000 options were granted to a consultant. The employee grants vest over a period of <span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_dtY_c20231001__20231031__srt--RangeAxis__srt--MinimumMember_zEavY3AV0Vk1" title="Shares vesting period"><span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_dtY_c20231101__20231130__srt--RangeAxis__srt--MinimumMember_z1ExXmysBTt9" title="Shares vesting period">3 to <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_dtY_c20231001__20231031__srt--RangeAxis__srt--MaximumMember_zZA6BFb6sbL4" title="Shares vesting period"><span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_dtY_c20231101__20231130__srt--RangeAxis__srt--MaximumMember_z0GXeI8TLuUk" title="Shares vesting period">5 years, and the consultant grant vests over <span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_c20231001__20231031__srt--TitleOfIndividualAxis__custom--ConsultantMember_zlCoyliiYotc" title="Shares vesting period"><span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_c20231101__20231130__srt--TitleOfIndividualAxis__custom--ConsultantMember_zr344LR6V3lc" title="Shares vesting period">18 months. The options granted to both employee and consultant are exercisable at the exercise price of $<span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20231001__20231031_zPTwAJ6YUE2f" title="Shares granted exercise price"><span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20231101__20231130_ziwbScTegv88" title="Shares granted exercise price">0.03. All the options under the ‘2023 Equity Incentive Plan’ were early-exercised by grantees. Accordingly, the company received a total amount of $14,850 towards the early exercise of these options during the period from March 16, 2023 (inception) through December 31, 2023 and recorded a liability against the early exercise of these options. On December 14, 2023, the Company repurchased 200,000 unvested shares that were granted to Abi Adeoti under ‘2023 Equity Incentive Plan’ at the original exercise price of $0.03. The Company repaid a total amount of $6,000 for the repurchase of these early exercised shares from Abi Adeoti in January 2024. The amount is charged against the ‘Early exercised shares option liability’. The early exercised shares liability amounting to $8,650 is outstanding as on December 31, 2023 and presented under ‘Early exercised shared liability’ on the consolidated balance sheet. Stock awards pending issuance On December 26, 2023, the Company hired and appointed Uday Devasper as the Chief Financial Officer. As part of the Equity Incentive Plan, he is entitled to receive 215,000 shares of the Company’s common stock. As these shares have not been granted upon the issuance of these consolidated financial statements, they are not currently included in the total grant of restricted stock mentioned in the table below. The Company will authorize necessary additional shares for issuance to permit the grant of these shares, as necessary. Stardust Power Inc. and Subsidiary NOTES TO CONSOLIDATED FINANCIAL STATEMENTS For the period from March 16, 2023 (inception) through December 31, 2023 NOTE 3 — STOCK-BASED COMPENSATION (cont.) Stock option activity for the period between March 16, 2023 (inception) and December 31, 2023 and balances as at the end of December 31, 2023 were as follows: SCHEDULE OF STOCK OPTION ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Stock Options</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of shares</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted- Average Grant-Date Fair Value</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Aggregate intrinsic value</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%">Granted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20230316__20231231_z4rt65tc7c5g" style="width: 12%; text-align: right" title="Number of shares, Granted">495,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20230316__20231231_zM1EfO0lJtah" style="width: 12%; text-align: right" title="Weighted Average Grant Date Fair Value - Granted">2.99</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedInPeriodGross_c20230316__20231231_zysgVaYlgji9" style="text-align: right" title="Number of shares, Vested">(6,667</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_ecustom--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsVestedInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20230316__20231231_zP3RHQvWWHSg" style="text-align: right" title="Weighted Average Grant Date Fair Value - Vested">3.50</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Forfeited</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: right"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_di_c20230316__20231231_zDoEpwAYNS02" style="border-bottom: Black 1pt solid; text-align: right" title="Number of shares, Forfeited">(200,000</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: right"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20230316__20231231_zON77YqzhGH3" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Grant Date Fair Value - Forfeited">3.50</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: right"></td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Unvested as at December 31, 2023</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: right"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20230316__20231231_zznDfWKLSpgg" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares, Unvested">288,333</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: right"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_uUSDPShares_c20230316__20231231_zWagpwXfBuhd" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Grant Date Fair Value - Unvested">2.62</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: right"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iI_c20231231_zJUIGDXZT2c9" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate intrinsic value">7,998,367</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_892_eus-gaap--ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock_zV4jtYf7AJsl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The compensation expense for stock option was as follows for the period between March 16, 2023 (inception) and December 31, 2023: SCHEDULE OF COMPENSATION EXPENSE FOR STOCK OPTION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49C_20230316__20231231_zKXs5BWwaMAd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Period from March 16, 2023 (inception) through December 31, 2023</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--ShareBasedCompensation_zMPquPzlknH" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left">General and administrative expenses</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right">58,536</td><td style="width: 1%; text-align: left"> </td></tr> </table> As at December 31, 2023, total unvested compensation cost for stock options granted to employees not yet recognized was $<span id="xdx_90D_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_iI_c20231231__srt--TitleOfIndividualAxis__custom--EmployeesMember_zP3Q3MieLr4j" title="Compensation not yet recognized">675,488. The Company expects to recognize this compensation over a weighted-average period of approximately <span id="xdx_90C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20230316__20231231__srt--TitleOfIndividualAxis__custom--EmployeesMember_zXXxMX2Ni3Sg" title="Stock based compensation term">3.61 years. As at December 31, 2023, total unvested compensation cost for stock options granted to the consultant not yet recognized was $<span id="xdx_903_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_iI_c20231231__srt--TitleOfIndividualAxis__custom--ConsultantMember_z8buP0P24mV1" title="Compensation not yet recognized">45,061. We expect to recognize this compensation over a period of <span id="xdx_90C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20230316__20231231__srt--TitleOfIndividualAxis__custom--ConsultantMember_ztzHfrPrGGQ6" title="Stock based compensation term">1 year. The weighted-average fair value of option granted during period from March 16, 2023 (inception) through December 31, 2023 is provided below. The fair value was estimated on the date of grant using the Black-Scholes pricing model with the assumptions indicated below: SCHEDULE OF FAIR VALUE ASSUMPTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected option life (years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20230316__20231231__srt--RangeAxis__srt--MinimumMember_zwMiDRws3mAe" title="Expected option life (years)">5.07 - <span id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20230316__20231231__srt--RangeAxis__srt--MaximumMember_zMN6axY6VWke" title="Expected option life (years)">5.93 years</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum_pid_dp_uPure_c20230316__20231231_zf0wrbGWYUv6" title="Expected volatility minimum">60% - <span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum_pid_dp_uPure_c20230316__20231231_z68I06RG3x43" title="Expected volatility maximum">70</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Risk-free interest rate at grant date</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum_pid_dp_c20230316__20231231_zy8KVUgC2RQc" title="Expected volatility minimum">3.84 - <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum_pid_dp_c20230316__20231231_zPsy2LvGRc6h" title="Expected volatility maximum">3.86</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 78%; text-align: left">Dividend yield</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right">0</td><td style="width: 1%; text-align: left">%</td></tr> </table> Due to the absence of an active market for the Company’s common stock, the Company utilized methodologies in accordance with the framework of the American Institute of Certified Public Accountants Technical Practice Aid (Valuation of Privately Held Company Equity Securities Issued as Compensation) to estimate the fair value of its common stock. In determining the exercise prices for options granted, the Company has considered the estimated fair value of the common stock as at the grant date. The estimated fair value of the common stock has been determined at each grant date based upon a variety of factors, including the business, financial condition and results of operations, economic and industry trends, the illiquid nature of the common stock, the market Stardust Power Inc. and Subsidiary NOTES TO CONSOLIDATED FINANCIAL STATEMENTS For the period from March 16, 2023 (inception) through December 31, 2023 NOTE 3 — STOCK-BASED COMPENSATION (cont.) performance of peer group of similar publicly traded companies, and future business plans of the Company. Significant changes to the key assumptions underlying the factors used could result in different fair values of common stock at each valuation date. The Company based the risk-free interest rate on a U.S. Treasury Bond Yield with a term substantially equal to the option’s expected term. The Company based the expected volatility on a blend of historical volatility and implied volatility derived from price of publicly traded shares of peer group of similar companies. The expected term represents the period that stock-based awards are expected to be outstanding. The expected term for option grants is determined using the simplified method which represents the average of the contractual term of the option and the weighted-average vesting period of the option. The Company considers this appropriate as there is not sufficient historical information available to develop reasonable expectations about future exercise patterns and post-vesting employment termination behavior.

550000

259000

P24M

0.00001

68125

P1Y3M

100000

177700

0.00001

300000

Restricted stock activity for the period between March 16, 2023 (inception) and December 31, 2023 and balances as at the end of December 31, 2023 were as follows: SCHEDULE OF RESTRICTED STOCK ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Restricted Stock</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of shares</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted-Average Grant-Date Fair Value</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Granted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20230316__20231231_zjFAphmu7Lzc" style="width: 16%; text-align: right" title="Number of shares, Granted">550,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20230316__20231231_zUJmIBYG8F8a" style="width: 16%; text-align: right" title="Weighted Average Grant Date Fair Value - Granted">0.00001</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_di_c20230316__20231231_z8Tsa9wGwwa5" style="text-align: right" title="Number of shares, Vested">(381,875</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pid_c20230316__20231231_zG6NHSAFP4Ui" style="text-align: right" title="Weighted Average Grant Date Fair Value - Vested">0.00001</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Forfeited</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: right"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_di_c20230316__20231231_zuT83lpp2yXb" style="border-bottom: Black 1pt solid; text-align: right" title="Number of shares, Forfeited">(100,000</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20230316__20231231_z4i4QNHdXkag" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Grant Date Fair Value - Forfeited">0.00001</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Unvested as at December 31, 2023</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: right"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20230316__20231231_zBZozRvHGamb" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares, Unvested">68,125</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20230316__20231231_zCLPQbpmPSu3" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Grant Date Fair Value - Unvested">0.00001</td><td style="text-align: left"> </td></tr> </table>

550000

0.00001

381875

0.00001

100000

0.00001

68125

0.00001

500000

495000

475000

20000

P3Y

P5Y

P18M

0.03

14850

200000

0.03

6000

8650

215000

Stock option activity for the period between March 16, 2023 (inception) and December 31, 2023 and balances as at the end of December 31, 2023 were as follows: SCHEDULE OF STOCK OPTION ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Stock Options</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of shares</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted- Average Grant-Date Fair Value</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Aggregate intrinsic value</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%">Granted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20230316__20231231_z4rt65tc7c5g" style="width: 12%; text-align: right" title="Number of shares, Granted">495,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20230316__20231231_zM1EfO0lJtah" style="width: 12%; text-align: right" title="Weighted Average Grant Date Fair Value - Granted">2.99</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedInPeriodGross_c20230316__20231231_zysgVaYlgji9" style="text-align: right" title="Number of shares, Vested">(6,667</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_ecustom--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsVestedInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20230316__20231231_zP3RHQvWWHSg" style="text-align: right" title="Weighted Average Grant Date Fair Value - Vested">3.50</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Forfeited</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: right"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_di_c20230316__20231231_zDoEpwAYNS02" style="border-bottom: Black 1pt solid; text-align: right" title="Number of shares, Forfeited">(200,000</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: right"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20230316__20231231_zON77YqzhGH3" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Grant Date Fair Value - Forfeited">3.50</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: right"></td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Unvested as at December 31, 2023</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: right"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20230316__20231231_zznDfWKLSpgg" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares, Unvested">288,333</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: right"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_uUSDPShares_c20230316__20231231_zWagpwXfBuhd" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Grant Date Fair Value - Unvested">2.62</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: right"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iI_c20231231_zJUIGDXZT2c9" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate intrinsic value">7,998,367</td><td style="text-align: left"> </td></tr> </table>

495000

2.99

-6667 3.50

200000

3.50

288333

2.62

7998367

<p id="xdx_892_eus-gaap--ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock_zV4jtYf7AJsl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The compensation expense for stock option was as follows for the period between March 16, 2023 (inception) and December 31, 2023: SCHEDULE OF COMPENSATION EXPENSE FOR STOCK OPTION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49C_20230316__20231231_zKXs5BWwaMAd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Period from March 16, 2023 (inception) through December 31, 2023</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--ShareBasedCompensation_zMPquPzlknH" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left">General and administrative expenses</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right">58,536</td><td style="width: 1%; text-align: left"> </td></tr> </table>

58536

675488

P3Y7M9D

45061

P1Y

The weighted-average fair value of option granted during period from March 16, 2023 (inception) through December 31, 2023 is provided below. The fair value was estimated on the date of grant using the Black-Scholes pricing model with the assumptions indicated below: SCHEDULE OF FAIR VALUE ASSUMPTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected option life (years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20230316__20231231__srt--RangeAxis__srt--MinimumMember_zwMiDRws3mAe" title="Expected option life (years)">5.07 - <span id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20230316__20231231__srt--RangeAxis__srt--MaximumMember_zMN6axY6VWke" title="Expected option life (years)">5.93 years</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum_pid_dp_uPure_c20230316__20231231_zf0wrbGWYUv6" title="Expected volatility minimum">60% - <span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum_pid_dp_uPure_c20230316__20231231_z68I06RG3x43" title="Expected volatility maximum">70</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Risk-free interest rate at grant date</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum_pid_dp_c20230316__20231231_zy8KVUgC2RQc" title="Expected volatility minimum">3.84 - <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum_pid_dp_c20230316__20231231_zPsy2LvGRc6h" title="Expected volatility maximum">3.86</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 78%; text-align: left">Dividend yield</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right">0</td><td style="width: 1%; text-align: left">%</td></tr> </table>

P5Y25D

P5Y11M4D

0.60

0.70

0.0384

0.0386

NOTE 4 — INVESTMENT In October 2023, the Company purchased <span id="xdx_908_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20231001__20231031__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--QXResourcesLimitedMember_zx1mEX5kNxQk" title="Ordinary shares">13,949,579 ordinary shares (<span id="xdx_908_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_uPure_c20231031__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--QXResourcesLimitedMember_zzV9u8qsVhFi" title="Total equity percentage">1.26% of the total equity) of QX Resources Limited (“QX Resources”), a limited liability company whose ordinary shares are listed on the Australian Securities Exchange (“ASX”), for $200,000. This investment in the ordinary shares of QX Resources has been made for strategic purposes and specifically with an intention to gain access for conducting feasibility studies for the production of lithium products from the lithium brine surface anomaly identified over the 102 square-kilometer Liberty Lithium Brine Project in SaltFire, California, USA (“the Project”) for which QX Resources has a binding Option to Purchase Agreement and Operating Agreement to earn a 75% interest of the Project from IG Lithium LLC (the “Earn-in venture”). The Company is not a direct party to the Earn-in venture and accordingly has no direct or indirect economic or controlling interest either in the Project or in any of the associated rights originating from the Earn-in venture held by QX Resources. The Company will conduct feasibility studies to assess the lithium brine at its own cost and if successful, will have the option to execute a commercial off-take agreement with QX Resources for the supply of brine from the Project. No formal off-take agreement has been executed as at December 31, 2023. Further, no material expenses have been incurred towards the feasibility studies during the period ending December 31, 2023. All costs associated with the feasibility studies would be expensed as incurred. The Company neither has a controlling financial interest nor does it exercise significant influence over QX Resources. Accordingly, the investment in QX Resources’ ordinary shares does not result in either consolidation or application of equity method of accounting for the Company. QX Resources’ ordinary shares are listed on the ASX with a readily determinable fair value and change in fair value is recognized in the consolidated statement of operations. Accordingly, the investment in these securities has been recorded at cost at initial recognition and at fair value of $<span id="xdx_906_eus-gaap--InvestmentOwnedAtFairValue_iI_c20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--QXResourcesLimitedMember_zHOMK4kZJ1Y4" title="Initial recognition fair value">218,556 as at December 31, 2023. The Company recognized a gain of $<span id="xdx_90F_eus-gaap--PrincipalInvestmentGainsLosses_c20230316__20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--QXResourcesLimitedMember_ztC2J4NEpk6f" title="Gain on investment">18,556 due to change in fair value of securities in the consolidated statement of operations. Further, this investment in securities has been disclosed outside of current assets on the consolidated balance sheet in accordance with ASC 210-10-45-4 because the investment has been made for the purpose of affiliation and continuing business reasons as described above. Stardust Power Inc. and Subsidiary NOTES TO CONSOLIDATED FINANCIAL STATEMENTS For the period from March 16, 2023 (inception) through December 31, 2023

13949579

0.0126

200000

218556

18556

NOTE 5 — COMMON STOCK Each share of common stock is entitled to one vote. The holders of common stock are also entitled to receive dividends whenever funds are legally available and when declared by the Board of Directors, subject to prior rights of the convertible preferred stockholders. Common stock issued and outstanding on the consolidated balance sheet and consolidated statement of stockholders’ deficit includes shares related to restricted stock that are subject to repurchase. The Company is authorized to issue 15,000,000 shares, par value of $0.00001 per share, of common stock. At December 31, 2023, the Company had 9,017,300 shares of common stock issued and outstanding. The Company reserved shares of its common stock for the potential future issuance of 205,000 shares under stock option award arrangements.

15000000

0.00001

9017300

205000

NOTE 6 — SIMPLE AGREEMENT FOR FUTURE EQUITY (SAFE NOTES) On June 6, 2023, the Company received $<span id="xdx_90E_eus-gaap--Cash_iI_c20230606__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_zPmH29swWfme" title="Cash received additionally from single investor">2,000,000 in cash from a single investor and funded a SAFE note on August 15, 2023. The funds were received from an unrelated third party, through its entity which is currently being managed under the purview of an Investment Management Agreement between them and VIKASA Capital Advisors, LLC (a related party) in consideration for which VIKASA Capital Advisors, LLC is paid investment management fees. On November 20, 2023, the Company received an additional $<span id="xdx_90A_eus-gaap--Cash_iI_c20231120__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_z4Aycsqr8Huj" title="Cash received additionally from single investor">2,000,000 in cash from a single investor, which, along with the $<span id="xdx_901_eus-gaap--Deposits_iI_c20231120__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_zBmdwApcjGR8" title="Deposit received">1,000,000 deposit received in September, funded a new $<span id="xdx_909_eus-gaap--InvestmentsFairValueDisclosure_iI_c20231120__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_zUhGFGpUeOj8" title="Cash received from single investor">3,000,000 SAFE note. The SAFE notes are classified as a liability based on evaluating characteristics of the instrument and are presented at fair value as a non-current liability in the Company’s consolidated balance sheet. <span id="xdx_90C_eus-gaap--ConvertiblePreferredStockTermsOfConversion_c20231120__20231120__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_zJ5HCSemDvb5" title="Cash received from single investor, description">The SAFE notes provide the Company an option to call for additional preferred stock up to $<span id="xdx_90F_eus-gaap--PreferredStockValue_iI_c20231120__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__us-gaap--CallOptionMember_zys6EOofVUVe" title="Cash received from single investor">25,000,000 based on the contingent event of SAFE note conversion and notice issued by the Board, and achievement of certain milestones, for up to 42 months following such conversion. This feature was determined to be an embedded feature and is valued as part of the liability value associated with the instrument as a whole. The terms for SAFE notes were amended on November 18, 2023 for both the original and new issuance to introduce a discount rate of 20% to the lowest price per share of preferred stock sold or the listing price of the Company’s common stock upon consummation of a SPAC transaction or IPO. Additionally, the SAFE notes provide the investor certain rights upon an equity financing, change in control or dissolution as described in Note 2. The estimated fair value of the SAFE notes considered the timing of issuance and whether there were changes in the various scenarios, as mentioned in note 2 since issuance. As at December 31, 2023, the fair value of the SAFE notes is $5,212,200 and is classified as a non-current liability. The SAFE notes had no interest rate or maturity date, description of dividend and participation rights. The liquidation preference of the SAFE notes is junior to other outstanding indebtedness and creditor claims, on par with payments for other SAFEs and/or preferred equity, and senior to payments for other equity of the Company that is not SAFEs and/or pari preferred equity. Stardust Power Inc. and Subsidiary NOTES TO CONSOLIDATED FINANCIAL STATEMENTS For the period from March 16, 2023 (inception) through December 31, 2023

2000000

1000000

3000000

The SAFE notes provide the Company an option to call for additional preferred stock up to $25,000,000 based on the contingent event of SAFE note conversion and notice issued by the Board, and achievement of certain milestones, for up to 42 months following such conversion. This feature was determined to be an embedded feature and is valued as part of the liability value associated with the instrument as a whole. The terms for SAFE notes were amended on November 18, 2023 for both the original and new issuance to introduce a discount rate of 20% to the lowest price per share of preferred stock sold or the listing price of the Company’s common stock upon consummation of a SPAC transaction or IPO.

25000000

5212200

NOTE 7 — FAIR VALUE MEASUREMENTS The following tables summarize the Company’s assets and liabilities that are measured at fair value in the consolidated financial statements: SCHEDULE OF ASSETS AND LIABILITIES ARE MEASURED AT FAIR VALUE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_499_20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zqx0thtk3u7k" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Level 1</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2" id="xdx_49E_20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zgbORh2crNkh" style="border-bottom: Black 1pt solid; text-align: center">Level 2</td><td> </td><td> </td> <td colspan="2" id="xdx_498_20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z5Un1uH28gwe" style="border-bottom: Black 1pt solid; text-align: center">Level 3 </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49E_20231231_zKiNd0ANbNGh" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Total</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value Measurements as at December 31, 2023</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Level 1</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Level 2</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Level 3 </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Total</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other noncurrent assets: </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--InvestmentsFairValueDisclosure_iI_maAFVDzSvd_z2M5NDHvo9Nh" style="vertical-align: bottom; background-color: White"> <td style="width: 44%; text-align: left">Investment in equity securities(a) </td><td style="width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 10%; text-align: right">218,556</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right; width: 10%">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right; width: 10%">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 10%; text-align: right">218,556</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AssetsFairValueDisclosure_iTI_mtAFVDzSvd_zzKaNpwegvfh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total financial assets </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">218,556</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"> —</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">218,556</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Fair Value Measurements as at December 31, 2023</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Level 1</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Level 2</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Level 3</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Total</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Liabilities</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_401_eus-gaap--LiabilitiesRelatedToInvestmentContractsFairValueDisclosure_iI_maFLFVDzATD_zyoxxQiKMRr4" style="vertical-align: bottom; background-color: White"> <td style="width: 44%; text-align: left">SAFE notes(b) </td><td style="width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right; width: 10%"> —</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right; width: 10%">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 10%; text-align: right">5,212,200</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 10%; text-align: right">5,212,200</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_maFLFVDzATD_zgL3KBFrfVfd" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Convertible notes (c)</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--FinancialLiabilitiesFairValueDisclosure_iTI_mtFLFVDzATD_zT0ZjlmFPoma" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total financial liabilities </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,212,200</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,212,200</td><td style="text-align: left"> </td></tr> </table> <div style="width: 25%"><div style="border-top: Black 1pt solid; font-size: 1pt"> </div></div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td id="xdx_F03_zCG0DzXabf1k" style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(a)</td> <td id="xdx_F16_zg6gBBzs5NVc" style="font: 10pt Times New Roman, Times, Serif; text-align: justify">These represent equity investments with a readily determinable fair value. The Company has measured its investments to fair value in accordance with ASC 321, Investments-Equity Securities, based on quoted prices in active markets. </td></tr> </table> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(b)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The valuation of the Level 3 measurement considered the probabilities of the occurrence of the scenarios as discussed in Note 2. </td></tr> </table> <p id="xdx_89B_eus-gaap--FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_zzKQxmnrnKQj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The following table provides a reconciliation of activity and changes in fair value for the Company’s SAFE note using inputs classified as Level 3: SCHEDULE OF RECONCILIATION OF ACTIVITY AND CHANGES IN FAIR VALUE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" id="xdx_49E_20230316__20231231__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember_zHJNhIpvKbL3" style="border-bottom: Black 1pt solid; text-align: center">SAFE note at Fair Value</td><td> </td></tr> <tr id="xdx_40F_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_z2yiBQHkfCD6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance as at March 16, 2023 (inception)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"> — </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues_zWAs9vYXcJWf" style="vertical-align: bottom; background-color: White"> <td style="width: 78%; text-align: left">Issuance of SAFE notes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right">5,000,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease_z6OJklRcH2Za" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Change in fair value</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">212,200</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_zahGeF2UBare" style="vertical-align: bottom; background-color: White"> <td>Balance as at December 31, 2023</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,212,200</td><td style="text-align: left"> </td></tr> </table> The valuation of the Level 3 measurement for SAFE notes considered the probabilities of the occurrence of the scenarios as discussed in Note 2. The Company valued the SAFE notes based on the occurrence of the preferred financing or a SPAC transaction. As of the date of initial measurement and as of Dec 31, 2023, the management has assigned zero probability for a change in control event or a dissolution event. The fair value of the SAFE notes was estimated based upon the expected conversion of the SAFE Notes at equity financing or proposed SPAC transaction event with implied total yield at <span id="xdx_903_eus-gaap--AlternativeInvestmentMeasurementInput_iI_pid_uPure_c20231231__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember__us-gaap--MeasurementInputTypeAxis__custom--MeasurementInputYieldRateMember_zxFVIOpx7AR5" title="Alternative investment, measurement input">39.49% as at December 31, 2023. The SAFE notes are expected to be converted into preferred stock or common stock at a discount rate of <span id="xdx_90A_eus-gaap--AlternativeInvestmentMeasurementInput_iI_pid_uPure_c20231231__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountRateMember_ztEBa8WjoK3l" title="Alternative investment, measurement input">20% on the issue price.

The following tables summarize the Company’s assets and liabilities that are measured at fair value in the consolidated financial statements: SCHEDULE OF ASSETS AND LIABILITIES ARE MEASURED AT FAIR VALUE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_499_20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zqx0thtk3u7k" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Level 1</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2" id="xdx_49E_20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zgbORh2crNkh" style="border-bottom: Black 1pt solid; text-align: center">Level 2</td><td> </td><td> </td> <td colspan="2" id="xdx_498_20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z5Un1uH28gwe" style="border-bottom: Black 1pt solid; text-align: center">Level 3 </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49E_20231231_zKiNd0ANbNGh" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Total</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value Measurements as at December 31, 2023</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Level 1</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Level 2</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Level 3 </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Total</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other noncurrent assets: </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--InvestmentsFairValueDisclosure_iI_maAFVDzSvd_z2M5NDHvo9Nh" style="vertical-align: bottom; background-color: White"> <td style="width: 44%; text-align: left">Investment in equity securities(a) </td><td style="width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 10%; text-align: right">218,556</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right; width: 10%">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right; width: 10%">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 10%; text-align: right">218,556</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AssetsFairValueDisclosure_iTI_mtAFVDzSvd_zzKaNpwegvfh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total financial assets </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">218,556</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"> —</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">218,556</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Fair Value Measurements as at December 31, 2023</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Level 1</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Level 2</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Level 3</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Total</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Liabilities</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_401_eus-gaap--LiabilitiesRelatedToInvestmentContractsFairValueDisclosure_iI_maFLFVDzATD_zyoxxQiKMRr4" style="vertical-align: bottom; background-color: White"> <td style="width: 44%; text-align: left">SAFE notes(b) </td><td style="width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right; width: 10%"> —</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right; width: 10%">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 10%; text-align: right">5,212,200</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 10%; text-align: right">5,212,200</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_maFLFVDzATD_zgL3KBFrfVfd" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Convertible notes (c)</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--FinancialLiabilitiesFairValueDisclosure_iTI_mtFLFVDzATD_zT0ZjlmFPoma" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total financial liabilities </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,212,200</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,212,200</td><td style="text-align: left"> </td></tr> </table> <div style="width: 25%"><div style="border-top: Black 1pt solid; font-size: 1pt"> </div></div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td id="xdx_F03_zCG0DzXabf1k" style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(a)</td> <td id="xdx_F16_zg6gBBzs5NVc" style="font: 10pt Times New Roman, Times, Serif; text-align: justify">These represent equity investments with a readily determinable fair value. The Company has measured its investments to fair value in accordance with ASC 321, Investments-Equity Securities, based on quoted prices in active markets. </td></tr> </table> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(b)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The valuation of the Level 3 measurement considered the probabilities of the occurrence of the scenarios as discussed in Note 2. </td></tr> </table>

218556

5212200

<p id="xdx_89B_eus-gaap--FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_zzKQxmnrnKQj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The following table provides a reconciliation of activity and changes in fair value for the Company’s SAFE note using inputs classified as Level 3: SCHEDULE OF RECONCILIATION OF ACTIVITY AND CHANGES IN FAIR VALUE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" id="xdx_49E_20230316__20231231__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember_zHJNhIpvKbL3" style="border-bottom: Black 1pt solid; text-align: center">SAFE note at Fair Value</td><td> </td></tr> <tr id="xdx_40F_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_z2yiBQHkfCD6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance as at March 16, 2023 (inception)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"> — </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues_zWAs9vYXcJWf" style="vertical-align: bottom; background-color: White"> <td style="width: 78%; text-align: left">Issuance of SAFE notes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right">5,000,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease_z6OJklRcH2Za" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Change in fair value</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">212,200</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_zahGeF2UBare" style="vertical-align: bottom; background-color: White"> <td>Balance as at December 31, 2023</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,212,200</td><td style="text-align: left"> </td></tr> </table>

5000000

212200

5212200

39.49

NOTE 8 — PROMISSORY NOTES In March 2023, the Company entered into unsecured notes payable with three related parties as described in Note 15. These notes payable provided the Company the ability to draw up to $<span id="xdx_908_eus-gaap--NotesPayable_iI_c20230331__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember__us-gaap--DebtInstrumentAxis__custom--UnsecuredNotesPayableMember_zyu8acSf7v5i" title="Notes payable">1,000,000, in aggregate: $<span id="xdx_906_eus-gaap--NotesPayable_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--VikasaCleanEnergyILPMember__us-gaap--DebtInstrumentAxis__custom--UnsecuredNotesPayableMember_zKrYUrSzDRa4" title="Notes payable">160,000 until December 31, 2023 and $<span id="xdx_905_eus-gaap--NotesPayable_iI_c20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EnergyTransitionInvestorsLLCAndRoshanPujariMember__us-gaap--DebtInstrumentAxis__custom--UnsecuredNotesPayableMember__srt--StatementScenarioAxis__srt--ScenarioForecastMember_zNNABJbw95Ya" title="Notes payable">840,000 until December 31, 2025. These loan facilities accrue interest, compounding semi-annually, at the long-term semiannual Applicable Federal Rate, as established by the Internal Revenue Service, which effectively was <span id="xdx_903_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_c20230331__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember__us-gaap--DebtInstrumentAxis__custom--UnsecuredNotesPayableMember_zr3FgPMY7W92" title="Debt instrument, interest rate">3.71%. Stardust Power Inc. and Subsidiary NOTES TO CONSOLIDATED FINANCIAL STATEMENTS For the period from March 16, 2023 (inception) through December 31, 2023 NOTE 8 — PROMISSORY NOTES (cont.) As at December 31, 2023, the Company had $<span id="xdx_904_eus-gaap--NotesPayable_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember__us-gaap--DebtInstrumentAxis__custom--UnsecuredNotesPayableMember_zraBoVBSEvkf" title="Notes payable">1,000,000 available to draw, which subsequent to the year reduces to $<span id="xdx_90D_eus-gaap--NotesPayable_iI_c20240731__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember__us-gaap--DebtInstrumentAxis__custom--UnsecuredNotesPayableMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z141p2HLXaFc" title="Notes payable">840,000 to draw.

1000000

160000

840000

0.0371

1000000

840000

NOTE 9 — SHORT TERM LOAN On November 19, 2023, the Company entered into a financing agreement of $80,800 for the purchase of an insurance policy with First Insurance Funding. The debt is payable in monthly installments of $ 8,389 per month for 10 months. Payments include a stated interest rate of <span id="xdx_902_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_c20231119__us-gaap--TypeOfArrangementAxis__custom--FinancingAgreementMember_z7pnKx6wv6Ai" title="Debt instrument, interest rate">8.25% and are secured against lien on the insurance policy. The carrying amount of $72,967 is included as Short-term Loan Liability on the accompanying consolidated balance sheet as at December 31, 2023. The Company recognized interest expense of $717 on the accompanying consolidated statement of operations.

80800

The debt is payable in monthly installments of $ 8,389 per month for 10 months.

8389

0.0825

72967

717

NOTE 10 — GENERAL AND ADMINISTRATIVE EXPENSES The following table presents a breakdown of the Company’s general and administrative expenses: SCHEDULE OF GENERAL AND ADMINISTRATIVE EXPENSES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49F_20230316__20231231_zCO671bISB4g" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Period from March 16, 2023 (inception) through December 31, 2023</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40F_eus-gaap--ProfessionalFees_maGAAEzkEf_zAALVtmVZywa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left">Professional and consulting fees</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">1,586,680</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LegalFees_maGAAEzkEf_z2V84niWO6v2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Legal and book-keeping services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">347,835</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--PayrollAndRelatedTaxes_maGAAEzkEf_zf5T7zeEBDb5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Payroll and related taxes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">443,672</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--MarketingAndAdvertisingExpense_maGAAEzkEf_zMyxDRrSSZrg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Marketing and advertisement</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">119,363</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OtherGeneralAndAdministrativeExpense_maGAAEzkEf_zw9mGogzsAjb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Other</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">178,148</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--GeneralAndAdministrativeExpense_iT_mtGAAEzkEf_ze086zeQ6Y4e" style="vertical-align: bottom; background-color: White"> <td>General and administrative expenses</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,675,698</td><td style="text-align: left"> </td></tr> </table> The following table presents a breakdown of the Company’s general and administrative expenses: SCHEDULE OF GENERAL AND ADMINISTRATIVE EXPENSES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49F_20230316__20231231_zCO671bISB4g" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Period from March 16, 2023 (inception) through December 31, 2023</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40F_eus-gaap--ProfessionalFees_maGAAEzkEf_zAALVtmVZywa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left">Professional and consulting fees</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">1,586,680</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LegalFees_maGAAEzkEf_z2V84niWO6v2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Legal and book-keeping services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">347,835</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--PayrollAndRelatedTaxes_maGAAEzkEf_zf5T7zeEBDb5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Payroll and related taxes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">443,672</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--MarketingAndAdvertisingExpense_maGAAEzkEf_zMyxDRrSSZrg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Marketing and advertisement</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">119,363</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OtherGeneralAndAdministrativeExpense_maGAAEzkEf_zw9mGogzsAjb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Other</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">178,148</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--GeneralAndAdministrativeExpense_iT_mtGAAEzkEf_ze086zeQ6Y4e" style="vertical-align: bottom; background-color: White"> <td>General and administrative expenses</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,675,698</td><td style="text-align: left"> </td></tr> </table>

1586680

347835

443672

119363

178148

2675698

NOTE 11 — LEASES As at December 31, 2023, the Company leases office space on a month-to-month basis. Short-term lease expense was $24,425 for the period from March 16, 2023 (inception) through December 31, 2023.

24425

NOTE 12 — COMPUTER AND EQUIPMENT Computer and equipment as at December 31, 2023 consisted of the following: SCHEDULE OF COMPUTER AND EQUIPMENT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_490_20231231_zU4b9XmWo2o2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPAENzLaS_zK2G94MjBnS1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left">Computer and equipment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">1,974</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPPAENzLaS_zAbwR1eqUeXa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accumulated depreciation</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(6</td><td style="text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENzLaS_zS8tqnYvcEDl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Computer and equipment net</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,968</td><td style="text-align: left"> </td></tr> </table> Stardust Power Inc. and Subsidiary NOTES TO CONSOLIDATED FINANCIAL STATEMENTS For the period from March 16, 2023 (inception) through December 31, 2023

Computer and equipment as at December 31, 2023 consisted of the following: SCHEDULE OF COMPUTER AND EQUIPMENT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_490_20231231_zU4b9XmWo2o2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPAENzLaS_zK2G94MjBnS1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left">Computer and equipment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">1,974</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPPAENzLaS_zAbwR1eqUeXa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accumulated depreciation</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(6</td><td style="text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENzLaS_zS8tqnYvcEDl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Computer and equipment net</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,968</td><td style="text-align: left"> </td></tr> </table>

1974

1968

NOTE 13 — INCOME TAXES The Company accounts for income taxes in accordance with authoritative guidance, which requires the use of the asset and liability method. Under this method, deferred income tax assets and liabilities are determined based upon the difference between the consolidated financial statement carrying amounts and the tax basis of assets and liabilities and are measured using the enacted tax rate expected to apply to taxable income in the years in which the differences are expected to be reversed. The following table presents the components of income / (loss) before income taxes: SCHEDULE OF COMPONENTS OF INCOME/LOSS BEFORE INCOME TAXES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_496_20230316__20231231_z6nKBncn0jK6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Period from March 16, 2023 (inception) through December 31, 2023</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40F_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_z8m76UBOxpff" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left">Loss before income taxes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">(3,793,585</td><td style="width: 1%; text-align: left">)</td></tr> </table> The Company had no income tax expense for the period from March 16, 2023 (inception) through December 31, 2023. The effective tax rate was 0% for the period from March 16, 2023 (inception) through December 31, 2023. The following table presents a reconciliation of the statutory federal tax and the Company’s effective tax: SCHEDULE OF RECONCILIATION OF STATUTORY FEDERAL INCOME TAX <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" id="xdx_49D_20230316__20231231_zY2m63mJD1Z1" style="border-bottom: Black 1pt solid; text-align: center">Period from March 16, 2023 (inception) through December 31, 2023 </td><td> </td></tr> <tr id="xdx_404_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_zoZg7aasmQ49" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left">Tax (benefit) at U.S. statutory rates</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">(796,653</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--IncomeTaxReconciliationStateAndLocalIncomeTaxes_zJHyZrShFJ4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State tax (benefit), net of federal tax effect</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(28,171</td><td style="text-align: left">)</td></tr> <tr id="xdx_405_ecustom--IncomeTaxReconciliationStateAndLocalIncomeTaxesSPACExplorationExpenses_z2jkNCJvPo6a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">SPAC exploration expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">94,524</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--IncomeTaxReconciliationStateAndLocalIncomeTaxesSAFENoteExpenses_z3GaY7G9xUTj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">SAFE note expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">142,485</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--IncomeTaxReconciliationTaxCreditsOther_zWuNjodzsoi3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,171</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_zmrgetApHBN9" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">Change in valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">578,644</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--IncomeTaxExpenseBenefit_z3ELUsK2MnXg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; text-align: left">Provision (benefit) for income taxes</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"> — </td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The effective tax rate of the Company’s provision (benefit) for income taxes differs from the federal statutory rate as follows: SCHEDULE OF EFFECTIVE INCOME TAX RATE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49C_20230316__20231231_zdknBlMwv3if" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Period from March 16, 2023 (inception) through December 31, 2023</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_dp_uPure_maA00Q_zJ1AXM7T4Xqf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left">Tax (benefit) at U.S. statutory rates</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 17%; text-align: right">21</td><td style="width: 2%; text-align: left">%</td></tr> <tr id="xdx_40D_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_dp_uPure_maA00Q_zDLtkTgqJqXj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State tax (benefit), net of federal tax effect</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.74</td><td style="text-align: left">%</td></tr> <tr id="xdx_40B_ecustom--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxesSPACExplorationExpenses_dp_uPure_maA00Q_z7OSg2eWzzfa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">SPAC exploration expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2.49</td><td style="text-align: left">)%</td></tr> <tr id="xdx_407_ecustom--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxesSAFENoteExpenses_dp_uPure_maA00Q_zaYISR8TzWy1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">SAFE note expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3.76</td><td style="text-align: left">)%</td></tr> <tr id="xdx_404_eus-gaap--EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent_dp_uPure_maA00Q_zk4LuUGnneZh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.24</td><td style="text-align: left">)%</td></tr> <tr id="xdx_400_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_dp_uPure_maA00Q_zohAHokr0z1e" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Change in valuation allowance</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(15.25</td><td style="text-align: left">)%</td></tr> <tr id="xdx_40B_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_iT_dp_uPure_mtA00Q_zTOTEHtscIk3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Provision (benefit) for income taxes</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: right"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">0.00</td><td style="text-align: left">%</td></tr> </table> Stardust Power Inc. and Subsidiary NOTES TO CONSOLIDATED FINANCIAL STATEMENTS For the period from March 16, 2023 (inception) through December 31, 2023 NOTE 13 — INCOME TAXES (cont.) Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The following table presents the significant components of the Company’s deferred tax assets and liabilities for the periods presented: SCHEDULE OF COMPONENTS OF DEFERRED TAX ASSETS AND LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" id="xdx_499_20231231_zh3PJpTvjEGj" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2023</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred tax assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_maDTAGzobG_zz2zHHfBEOIg" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 78%; text-align: left">Net operating loss</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">1,715</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_ecustom--DeferredTaxAssetsLandAcquistionCosts_iI_maDTAGzobG_zaIOZGeGuFpf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Land acquisition costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">52,584</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--DeferredTaxAssetsStartUpExpenses_iI_maDTAGzobG_zquhHO9kx8G" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Start-up expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">524,208</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals_iI_maDTAGzobG_ziUC6e6AOtUk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Accruals and other</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">137</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DeferredTaxAssetsGross_iTI_mtDTAGzobG_maDTALNzW42_zLNVuIlfQjga" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left">Total deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">578,644</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_di_msDTALNzW42_zFq6HWmBoBZ5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Valuation allowance</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(578,644</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_mtDTALNzW42_zOVH4NxaI3La" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left">Net current deferred tax assets (liabilities)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"> —</td><td style="text-align: left"> </td></tr> </table> In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. As a result of a history of taxable losses and uncertainties as to future profitability, the Company recorded a full valuation allowance against its deferred tax assets. The valuation allowance is $578,644 as of the period ended December 31, 2023. As at December 31, 2023, the Company has federal and state net operating loss carryforwards (NOL) in the amount of $7,736 and $2,852 respectively. Both Federal and Oklahoma NOLs generated after 2017 can be carried forward indefinitely. ASC 740, “Income Taxes”, requires companies to determine whether it is “more likely than not” that a tax position will be sustained upon examination by the appropriate taxing authorities before any tax benefit can be recorded in the consolidated financial statements. It also provides guidance on the recognition, measurement, classification and interest and penalties related to uncertain tax positions. As at December 31, 2023, the Company has not recorded any FIN48 liabilities. The Company’s policy is to record estimated interest and penalties related to the underpayment of income taxes or unrecognized tax benefits as a component of its income tax provision. The Company has not recorded any interest or penalties related to unrecognized tax benefits through December 31, 2023.

The following table presents the components of income / (loss) before income taxes: SCHEDULE OF COMPONENTS OF INCOME/LOSS BEFORE INCOME TAXES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_496_20230316__20231231_z6nKBncn0jK6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Period from March 16, 2023 (inception) through December 31, 2023</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40F_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_z8m76UBOxpff" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left">Loss before income taxes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">(3,793,585</td><td style="width: 1%; text-align: left">)</td></tr> </table>

-3793585

The following table presents a reconciliation of the statutory federal tax and the Company’s effective tax: SCHEDULE OF RECONCILIATION OF STATUTORY FEDERAL INCOME TAX <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" id="xdx_49D_20230316__20231231_zY2m63mJD1Z1" style="border-bottom: Black 1pt solid; text-align: center">Period from March 16, 2023 (inception) through December 31, 2023 </td><td> </td></tr> <tr id="xdx_404_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_zoZg7aasmQ49" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left">Tax (benefit) at U.S. statutory rates</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">(796,653</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--IncomeTaxReconciliationStateAndLocalIncomeTaxes_zJHyZrShFJ4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State tax (benefit), net of federal tax effect</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(28,171</td><td style="text-align: left">)</td></tr> <tr id="xdx_405_ecustom--IncomeTaxReconciliationStateAndLocalIncomeTaxesSPACExplorationExpenses_z2jkNCJvPo6a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">SPAC exploration expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">94,524</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--IncomeTaxReconciliationStateAndLocalIncomeTaxesSAFENoteExpenses_z3GaY7G9xUTj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">SAFE note expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">142,485</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--IncomeTaxReconciliationTaxCreditsOther_zWuNjodzsoi3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,171</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_zmrgetApHBN9" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">Change in valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">578,644</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--IncomeTaxExpenseBenefit_z3ELUsK2MnXg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; text-align: left">Provision (benefit) for income taxes</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"> — </td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

-796653

-28171

94524 142485

9171

578644

The effective tax rate of the Company’s provision (benefit) for income taxes differs from the federal statutory rate as follows: SCHEDULE OF EFFECTIVE INCOME TAX RATE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49C_20230316__20231231_zdknBlMwv3if" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Period from March 16, 2023 (inception) through December 31, 2023</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_dp_uPure_maA00Q_zJ1AXM7T4Xqf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left">Tax (benefit) at U.S. statutory rates</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 17%; text-align: right">21</td><td style="width: 2%; text-align: left">%</td></tr> <tr id="xdx_40D_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_dp_uPure_maA00Q_zDLtkTgqJqXj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State tax (benefit), net of federal tax effect</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.74</td><td style="text-align: left">%</td></tr> <tr id="xdx_40B_ecustom--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxesSPACExplorationExpenses_dp_uPure_maA00Q_z7OSg2eWzzfa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">SPAC exploration expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2.49</td><td style="text-align: left">)%</td></tr> <tr id="xdx_407_ecustom--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxesSAFENoteExpenses_dp_uPure_maA00Q_zaYISR8TzWy1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">SAFE note expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3.76</td><td style="text-align: left">)%</td></tr> <tr id="xdx_404_eus-gaap--EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent_dp_uPure_maA00Q_zk4LuUGnneZh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.24</td><td style="text-align: left">)%</td></tr> <tr id="xdx_400_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_dp_uPure_maA00Q_zohAHokr0z1e" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Change in valuation allowance</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(15.25</td><td style="text-align: left">)%</td></tr> <tr id="xdx_40B_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_iT_dp_uPure_mtA00Q_zTOTEHtscIk3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Provision (benefit) for income taxes</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: right"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">0.00</td><td style="text-align: left">%</td></tr> </table>

0.21

0.0074

-0.0249 -0.0376

-0.0024

-0.1525

0.0000

SCHEDULE OF COMPONENTS OF DEFERRED TAX ASSETS AND LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" id="xdx_499_20231231_zh3PJpTvjEGj" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2023</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred tax assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_maDTAGzobG_zz2zHHfBEOIg" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 78%; text-align: left">Net operating loss</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">1,715</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_ecustom--DeferredTaxAssetsLandAcquistionCosts_iI_maDTAGzobG_zaIOZGeGuFpf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Land acquisition costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">52,584</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--DeferredTaxAssetsStartUpExpenses_iI_maDTAGzobG_zquhHO9kx8G" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Start-up expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">524,208</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals_iI_maDTAGzobG_ziUC6e6AOtUk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Accruals and other</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">137</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DeferredTaxAssetsGross_iTI_mtDTAGzobG_maDTALNzW42_zLNVuIlfQjga" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left">Total deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">578,644</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_di_msDTALNzW42_zFq6HWmBoBZ5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Valuation allowance</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(578,644</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_mtDTALNzW42_zOVH4NxaI3La" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left">Net current deferred tax assets (liabilities)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"> —</td><td style="text-align: left"> </td></tr> </table>

1715

52584 524208

137

578644

7736

2852

NOTE 14 — SEGMENT REPORTING The Company reports segment information in the same way management internally organizes the business in assessing performance and making decisions regarding allocation of resources in accordance with ASC 280, “Segment Reporting”. The Company has a single reportable operating segment which operates as a single business platform. In reaching this conclusion, management considered the definition of the Chief Operating Decision Maker (“CODM”), how the business is defined by the CODM, the nature of the information provided to the CODM, how the CODM uses such information to make operating decisions, and how resources and performance are assessed. The Company has a single, common management team and our cash flows are reported and reviewed with no distinct cash flows. Stardust Power Inc. and Subsidiary NOTES TO CONSOLIDATED FINANCIAL STATEMENTS For the period from March 16, 2023 (inception) through December 31, 2023

NOTE 15 — RELATED PARTY TRANSACTIONS The Company entered into a service agreement with VIKASA Capital Partners LLC (“VCP”) on March 16, 2023, for services associated with setting up a lithium refinery. VCP provides formation and organization structure advisory, capital market advisory, marketing advisory services and other consulting and advisory services with respect to the Company’s organization. Under the service agreement and subsequent amendments, VCP can be compensated for advisory services up to total of $1,050,000, of which $980,000 has been incurred to date. On March 16, 2023, the Company entered into a consulting agreement with 7636 Holdings LLC, which was subsequently amended on April 1, 2023, and also separately entered into an agreement with VIKASA Capital LLC. The agreements primarily provide compensation for strategic, business, financial, operations and industry advisory services to the Company’s planned development of a lithium refinery operation. The Company incurred the following expenses from March 16, 2023 (inception) through December 31, 2023 with related parties, which were all affiliates of the Company: SCHEDULE OF EXPENSES WITH RELATED PARTIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_496_20230316__20231231_z4EaOBxAGNIg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Period from March 16, 2023 (inception) through December 31, 2023</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Consulting expenses under contract due to:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--ConsultingExpenses_hus-gaap--RelatedPartyTransactionAxis__custom--VikasaCapitalPartnersLLCMember_z1ifH4k54rv4" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 78%; text-align: left">VIKASA Capital Partners LLC</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">980,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--ConsultingExpenses_hus-gaap--RelatedPartyTransactionAxis__custom--SevenSixThreeSixHoldingsLLCMember_zxr1VyeHmud4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">7636 Holdings LLC</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">180,806</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--ConsultingExpenses_hus-gaap--RelatedPartyTransactionAxis__custom--VikasaCapitalLLCMember_zVespmG4RlAl" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">VIKASA Capital LLC</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">171,213</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--ConsultingExpenses_maCAOEzp6X_zseHBK9wSVt" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left">Total consulting expenses</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,332,019</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other expenses paid on Company’s behalf due to:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--OtherExpenses_hus-gaap--RelatedPartyTransactionAxis__custom--VikasaCapitalLLCMember_zmJ8pFlUkOre" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">VIKASA Capital LLC</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">34,318</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--OtherExpenses_hus-gaap--RelatedPartyTransactionAxis__custom--VikasaCapitalPartnersLLCMember_zNTrEXxsgEbc" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">VIKASA Capital Partners LLC</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">9,868</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OtherExpenses_maCAOEzp6X_znxQ6a96h2Nk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left">Total other expenses paid on Company’s behalf</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">44,186</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--ConsultingAndOtherExpense_iT_mtCAOEzp6X_z8KxEr0IUXFj" style="vertical-align: bottom; background-color: White"> <td>Total</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,376,205</td><td style="text-align: left"> </td></tr> </table> As at December 31, 2023, no amounts were due to related parties of the Company. During the period from March 16, 2023 (inception) through December 31, 2023, the Company entered into and repaid notes of $1,000,000 with the following related parties, which were all affiliates of the Company: SCHEDULE OF RELATED PARTIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_495_20230316__20231231_zAuujRZY4gsg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Period from March 16, 2023 (inception) through December 31, 2023</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_401_eus-gaap--RepaymentOfNotesReceivableFromRelatedParties_hus-gaap--RelatedPartyTransactionAxis__custom--EnergyTransitionInvestorsLLCMember_zXUfT7yLNFQb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left">Energy Transition Investors LLC</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">750,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--RepaymentOfNotesReceivableFromRelatedParties_hus-gaap--RelatedPartyTransactionAxis__custom--VikasaCleanEnergyLLPMember_zsUqje4Q0p3e" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Vikasa Clean Energy I LP</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">160,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--RepaymentOfNotesReceivableFromRelatedParties_hus-gaap--RelatedPartyTransactionAxis__custom--RoshanPujariMember_zPLGx2Isgdbf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Roshan Pujari</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">90,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--RepaymentOfNotesReceivableFromRelatedParties_zgpoHRzVZxCj" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Notes obtained and repaid to related parties</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,000,000</td><td style="text-align: left"> </td></tr> </table> Stardust Power Inc. and Subsidiary NOTES TO CONSOLIDATED FINANCIAL STATEMENTS For the period from March 16, 2023 (inception) through December 31, 2023 NOTE 15 — RELATED PARTY TRANSACTIONS (cont.) VIKASA Capital LLC facilitated the initial funding of the notes obtained on behalf of the related parties. During the period from March 16, 2023 (inception) through December 31, 2023, the Company incurred and paid $7,111 of interest expense related to the notes payable: <div id="xdx_C05_gL3SORPTTB-DDW_znXNxIpveMm3"><div><table cellpadding="0" cellspacing="0" id="xdx_300_134_zB6TZBtXJMVd" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%" summary="xdx: Disclosure - SCHEDULE OF RELATED PARTIES (Details)"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" id="xdx_490_20230316__20231231_z5vFeht3qz9e" style="border-bottom: Black 1pt solid; text-align: center">Period from March 16, 2023 (inception) through December 31, 2023 </td><td> </td></tr> <tr id="xdx_402_eus-gaap--InterestExpense_hus-gaap--RelatedPartyTransactionAxis__custom--EnergyTransitionInvestorsLLCMember_z82yYq80elb1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Energy Transition Investors LLC</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"> 5,333</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--InterestExpense_hus-gaap--RelatedPartyTransactionAxis__custom--VikasaCleanEnergyLLPMember_zEUtl1WlpiTk" style="vertical-align: bottom; background-color: White"> <td style="width: 78%; text-align: left">Vikasa Clean Energy I LP</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right">1,138</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--InterestExpense_hus-gaap--RelatedPartyTransactionAxis__custom--RoshanPujariMember_zjM5XuD60lH1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Roshan Pujari</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">640</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--InterestExpense_iT_zerMwaeZRhUd" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Interest expense</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,111</td><td style="text-align: left"> </td></tr> </table> </div></div>

1050000

980000

The Company incurred the following expenses from March 16, 2023 (inception) through December 31, 2023 with related parties, which were all affiliates of the Company: SCHEDULE OF EXPENSES WITH RELATED PARTIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_496_20230316__20231231_z4EaOBxAGNIg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Period from March 16, 2023 (inception) through December 31, 2023</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Consulting expenses under contract due to:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--ConsultingExpenses_hus-gaap--RelatedPartyTransactionAxis__custom--VikasaCapitalPartnersLLCMember_z1ifH4k54rv4" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 78%; text-align: left">VIKASA Capital Partners LLC</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">980,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--ConsultingExpenses_hus-gaap--RelatedPartyTransactionAxis__custom--SevenSixThreeSixHoldingsLLCMember_zxr1VyeHmud4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">7636 Holdings LLC</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">180,806</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--ConsultingExpenses_hus-gaap--RelatedPartyTransactionAxis__custom--VikasaCapitalLLCMember_zVespmG4RlAl" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">VIKASA Capital LLC</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">171,213</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--ConsultingExpenses_maCAOEzp6X_zseHBK9wSVt" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left">Total consulting expenses</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,332,019</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other expenses paid on Company’s behalf due to:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--OtherExpenses_hus-gaap--RelatedPartyTransactionAxis__custom--VikasaCapitalLLCMember_zmJ8pFlUkOre" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">VIKASA Capital LLC</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">34,318</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--OtherExpenses_hus-gaap--RelatedPartyTransactionAxis__custom--VikasaCapitalPartnersLLCMember_zNTrEXxsgEbc" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">VIKASA Capital Partners LLC</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">9,868</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OtherExpenses_maCAOEzp6X_znxQ6a96h2Nk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left">Total other expenses paid on Company’s behalf</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">44,186</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--ConsultingAndOtherExpense_iT_mtCAOEzp6X_z8KxEr0IUXFj" style="vertical-align: bottom; background-color: White"> <td>Total</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,376,205</td><td style="text-align: left"> </td></tr> </table>

980000 180806 171213 1332019

34318

9868

44186

1376205

1000000

SCHEDULE OF RELATED PARTIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_495_20230316__20231231_zAuujRZY4gsg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Period from March 16, 2023 (inception) through December 31, 2023</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_401_eus-gaap--RepaymentOfNotesReceivableFromRelatedParties_hus-gaap--RelatedPartyTransactionAxis__custom--EnergyTransitionInvestorsLLCMember_zXUfT7yLNFQb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left">Energy Transition Investors LLC</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">750,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--RepaymentOfNotesReceivableFromRelatedParties_hus-gaap--RelatedPartyTransactionAxis__custom--VikasaCleanEnergyLLPMember_zsUqje4Q0p3e" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Vikasa Clean Energy I LP</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">160,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--RepaymentOfNotesReceivableFromRelatedParties_hus-gaap--RelatedPartyTransactionAxis__custom--RoshanPujariMember_zPLGx2Isgdbf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Roshan Pujari</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">90,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--RepaymentOfNotesReceivableFromRelatedParties_zgpoHRzVZxCj" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Notes obtained and repaid to related parties</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,000,000</td><td style="text-align: left"> </td></tr> </table> <div><table cellpadding="0" cellspacing="0" id="xdx_300_134_zB6TZBtXJMVd" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%" summary="xdx: Disclosure - SCHEDULE OF RELATED PARTIES (Details)"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" id="xdx_490_20230316__20231231_z5vFeht3qz9e" style="border-bottom: Black 1pt solid; text-align: center">Period from March 16, 2023 (inception) through December 31, 2023 </td><td> </td></tr> <tr id="xdx_402_eus-gaap--InterestExpense_hus-gaap--RelatedPartyTransactionAxis__custom--EnergyTransitionInvestorsLLCMember_z82yYq80elb1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Energy Transition Investors LLC</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"> 5,333</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--InterestExpense_hus-gaap--RelatedPartyTransactionAxis__custom--VikasaCleanEnergyLLPMember_zEUtl1WlpiTk" style="vertical-align: bottom; background-color: White"> <td style="width: 78%; text-align: left">Vikasa Clean Energy I LP</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right">1,138</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--InterestExpense_hus-gaap--RelatedPartyTransactionAxis__custom--RoshanPujariMember_zjM5XuD60lH1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Roshan Pujari</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">640</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--InterestExpense_iT_zerMwaeZRhUd" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Interest expense</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,111</td><td style="text-align: left"> </td></tr> </table> </div>

750000

160000

90000

1000000

7111

5333

1138

640

7111

NOTE 16 — SUBSEQUENT EVENTS On January 10, 2024, the Company entered into an agreement to exercise the option and purchase the land as per exclusive option purchase agreement with the City of Muskogee, Oklahoma for an additional amount of $1,562,030. The additional purchase amount is payable as on closing of the purchase transaction which is expected to be completed by December 31, 2024. On February 7, 2024, Michael Circelli joined as Project Director of the Company. As part of the Equity Incentive Plan, Michael Circelli is entitled to receive <span id="xdx_90B_eus-gaap--CommonStockDividendsShares_c20240207__20240207__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__srt--TitleOfIndividualAxis__custom--MichaelCircelliMember_zagB6ZmtiVMf" title="Received shares of common stock">150,000 shares of the Company’s common stock. However, these shares have not been granted until the issuance of these consolidated financial statements. On November 8, 2023, the Board of Directors authorized the adoption of the Stardust Power, Inc. 401(k) Plan (the “Plan”) effective January 1, 2024, which allows eligible employees to defer <span id="xdx_909_eus-gaap--DeferredCompensationArrangementWithIndividualCashAwardsGrantedPercentage_pid_dp_c20240101__20240101__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__srt--RangeAxis__srt--MinimumMember_zhJSVuMNsX67" title="Compensation percentage">1% to <span id="xdx_903_eus-gaap--DeferredCompensationArrangementWithIndividualCashAwardsGrantedPercentage_pid_dp_c20240101__20240101__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__srt--RangeAxis__srt--MaximumMember_zPcOHQn6c4Ab" title="Compensation percentage">80% of their eligible compensation. The Plan, as adopted, does not offer employer contributions. On February 23, 2024, the Company signed another SAFE agreement for an amount of $<span id="xdx_90A_ecustom--EquityIssuedAmount_iI_c20240223__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--SAFEAgreementMember_zDtL1iKk4YTj" title="Equity issued amount">200,000 in accordance with the terms of the outstanding Simple Agreements for Future Equity issued by Stardust Power to an individual Investor. On March 13, 2024, the Company and IGX Minerals LLC (“IGX”), an established American developer of lithium brine assets, entered into an exclusive Letter of Intent (“IGX LOI”) to potentially acquire interests in certain mining claims (“IGX Claims”). The contemplated transaction is subject to the entering into of a definitive agreement, due diligence by the Company, and other factors. In connection with the entering into the non-binding IGX LOI, the Company has paid a non-refundable payment of $30,000 in connection with obtaining a binding exclusivity right. Further, the Company has agreed to binding provisions relating to (i) a right of first refusal in favor of the Company and (ii) the entering into of a promissory note of $235,000 in favor of IGX. The promissory note is for a term of twenty-four (<span id="xdx_900_ecustom--PromissoryNoteTerm_dtM_c20240313__20240313__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__dei--LegalEntityAxis__custom--IGXMineralsLLCMember_zYhoV9gNvjc5" title="Promissory note, term">24) months with an annual interest rate of six (<span id="xdx_90D_ecustom--PromissoryNoteInterestRate_pid_dp_c20240313__20240313__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__dei--LegalEntityAxis__custom--IGXMineralsLLCMember_z1kacBx7RV6d" title="Promissory note, interest rate">6) percent and repayment due upon maturity. If the Company acquires an interest in any of the IGX Claims, the balance of the promissory note shall be credited as part of the Company’s investment and IGX shall not be required to repay the note. On March 15, 2024, the Company and Usha Resources Inc. (“Usha Resources”) entered into a non-binding Letter of Intent, except for certain binding terms such as those relating to the exclusivity period until September 30, 2024 (“Jackpot LOI”) to acquire an interest in Usha Resources’ lithium brine project, situated in the United States. The Jackpot LOI provides the Company with the exclusive option to agree to acquire up to <span id="xdx_90E_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_c20240315__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--UshaResourcesIncMember_z2xbKNLo2hu4" title="Ownership percentage">90% of the interests held by Usha Resources in the Jackpot Lake project, based on an indicative earn-in schedule. The Company has made a non-refundable payment of $<span id="xdx_906_ecustom--NonrefundablePayment_c20240315__20240315__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__dei--LegalEntityAxis__custom--UshaResourcesIncMember_zDrwsOef54C8" title="Equity issued amount">25,000 upon execution of the LOI in connection with securing exclusivity and a further $<span id="xdx_90A_ecustom--NonrefundablePayment_c20240315__20240315__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__dei--LegalEntityAxis__custom--UshaResourcesIncMember__us-gaap--AwardTypeAxis__custom--SecondPaymentMember_zYSMuAOAdrpb" title="Equity issued amount">50,000 payment (the “Second Payment”) is intended to be made by the Company sixty days from March 15, 2024. On March 22, 2024, the Company entered into Financing Commitment and Equity Line of Credit Agreement with SAFE note investor. The agreement replaced the contingent commitment feature of SAFE notes with granting Company an option to drawdown up an additional $<span id="xdx_90D_eus-gaap--OtherCommitment_iI_c20240322__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--EquityLineOfCreditAgreementMember_zFKRjPJmL8k8" title="Contingent commitment">15,000,000 on terms similar to existing SAFEs prior to the First Effective Time. The Company has evaluated subsequent events through the date the consolidated financial statements were available to be issued and there are no other items that would have had a material impact on the Company’s consolidated financial statements.

1562030

150000

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0.80

200000 30000

235000

P24M 0.06

0.90

25000 50000

15000000

641966

1271824

226683

426497

2829196

1005109

3697845

2703430

8883

1968

835219 100000

55884

218556

50000

4647831

3023954

2713812

1256792

597556

208107

3889

2990

24824

72967

3340081

1540856

6367200 5212200

2571400

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4561

5660

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6758716

0.00001

15000000

9017300

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58736

-7887160

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1267059

878796

2502425

1124198

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-878796

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436647 436647 416829 416829

789

7008

2078

7111

-108014 -162672 -471400 -471400 847100 955000

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8686350

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8755120

8686350

8757603

8677870

8755120

8686350

8757603

8677870

8755120

517281

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435000 435000 100000 100000

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-1984695

9000000

-245505

-245415

-1739280

9000000

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505

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65185

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442966 25000 50000

7421

-500387

-25000

200000 2000000

1000000

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2100000

346401

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1612331 1647 27253

<p id="xdx_80E_eus-gaap--OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_zx5SZi4bc0dl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">NOTE 1 – DESCRIPTION OF THE COMPANY Nature of Business Stardust Power Inc., (“the Company”, “Stardust Power”) which was incorporated on March 16, 2023, is a development stage company engaged in setting-up vertically integrated battery grade lithium production, designed to foster energy independence in the United States. While the Company has not earned any revenue yet, the Company is in the process of developing a strategically central, vertically integrated lithium refinery capable of producing up to 50,000 tons per annum of battery-grade lithium. Business combination On November 21, 2023, the Company entered into a business combination agreement (the “Business Combination Agreement”) with Global Partner Acquisition Corp II (“GPAC II”), a Cayman Islands exempted company, Strike Merger Sub I, Inc. (“First Merger Sub”), a Delaware corporation and direct wholly-owned subsidiary of GPAC II, Strike Merger Sub II (“Second Merger Sub”), LLC, a Delaware limited liability company and direct wholly-owned subsidiary of GPAC II. On July 8, 2024, the Company completed the merger. GPAC II deregistered as a Cayman Islands exempted company and domesticated as a Delaware corporation. As per the Business Combination Agreement, First Merger Sub merged into the Company, with the Company being the surviving corporation. Following the First Merger, the Company merged into Second Merger Sub, with Second Merger Sub being the surviving entity. Upon the merger, GPAC II was renamed as Stardust Power Inc. (“the Combined Company”), with the ticker symbol “SDST”. As per the Business Combination Agreement: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Each share of Stardust Power Common Stock issued and outstanding immediately prior to the first effective time converted into the right to receive the number of GPAC II common stock equal to the merger consideration divided by the number of shares of the Company fully-diluted stock.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Each outstanding Stardust Power Option, whether vested or unvested, automatically converted into an option to purchase a number of shares of GPAC II common stock equal to the number of shares of GPAC II Common Stock subject to such Stardust Power Option immediately prior to the first effective time multiplied by the per share consideration.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Each share of Stardust Power Restricted Stock outstanding immediately prior to the first effective time converted into a number of shares of GPAC II common stock equal to the number of shares of Stardust Power common stock subject to such Stardust Power restricted stock multiplied by the per share consideration.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Additionally, GPAC II will issue <span id="xdx_900_eus-gaap--BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued_dc_c20231121__20231121__us-gaap--BusinessAcquisitionAxis__custom--GPACIIMember_zmr3s2xHBQ5h" title="Shares issued as additional consideration">five million shares of GPAC II common stock to the holders of Stardust Power as additional merger consideration in the event that prior to the eighth (8th) anniversary of the closing of the Business Combination, the volume-weighted average price of GPAC II common stock is greater than or equal to $12.00 per share for a period of 20 trading days in any 30-trading day period or there is a change of control.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Immediately prior to the closing of the business combination, the SAFEs automatically converted into the 138,393 shares of common stock of Stardust Power.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Immediately prior to the closing of the business combination, the convertible notes automatically converted into <span id="xdx_90A_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_pid_c20231121__20231121__us-gaap--FinancialInstrumentAxis__custom--ConvertibleNotesMember_z5JdXSDpCwCi" title="Conevrtible notes coverted into shares">55,889 shares of common stock of the Stardust Power.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The Combined Company issued 1,077,541 shares of Combined Company Common Stock in exchange for $10,075,000 of cash in accordance with the terms of the Private Placement Agreement (PIPE) in connection with the Business Combination, of which $<span id="xdx_90A_eus-gaap--Deposits_iI_c20240630__us-gaap--TypeOfArrangementAxis__custom--PrivatePlacementAgreementMember__us-gaap--BalanceSheetLocationAxis__us-gaap--OtherNoncurrentLiabilitiesMember_zZQTdK1VMWck" title="Deposit">75,002 was received prior to June 30, 2024 and is presented as a deposit under other long term liability on the condensed consolidated balance sheet.</td></tr> </table> The Company’s basis of presentation within these unaudited condensed consolidated financial statements do not reflect any adjustments as a result of the Business Combination closing. The Business Combination will be accounted for as a reverse recapitalization. Under this method of accounting, GPAC II will be treated as the acquired company for financial statement reporting purposes. Stardust Power Inc. and Subsidiary NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

50000

5000000

12.00

P20D P30D

138393

55889

1077541

10075000

75002

NOTE 2 – BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared on the accrual basis of accounting in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities Exchange Commission (“SEC”) regarding interim financial reporting. In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all normal and recurring adjustments (which consist primarily of accruals, estimates and assumptions that impact the unaudited condensed consolidated financial statements) considered necessary to present fairly the Company’s condensed consolidated balance sheet as of June 30, 2024, its condensed consolidated statements of operations, stockholders’ deficit for the three and six months ended June 30, 2024, three months ended June 30, 2023 and for the period March 16, 2023 (since inception) through June 30, 2023 and condensed statement of cashflows for six months ended June 30, 2024 and for the period March 16, 2023 (since inception) through June 30, 2023. Certain information and note disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. As such, the information included in this report should be read in conjunction with the audited consolidated financial statements and notes thereto for the period March 16, 2023 to December 31, 2023 included in the Company’s registration statement on Form S-4/A filed with the SEC on May 8, 2024. The condensed consolidated balance sheet as of December 31, 2023 included herein was derived from the audited financial statements as of that date but does not include all disclosures including notes required by U.S. GAAP. The condensed consolidated financial statements include the accounts of Stardust Power Inc. and its wholly owned subsidiary, Stardust Power LLC. All material intercompany balances have been eliminated upon consolidation. These unaudited condensed consolidated financial statements are presented in U.S. dollars. Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the amounts reported and disclosed in the condensed consolidated financial statements and accompanying notes. Those estimates and assumptions include, but are not limited to, useful life of computer and equipment, realization of deferred tax assets, fair valuation of investment in equity securities and fair valuation of stock-based compensation, simple agreement for future equity note (“SAFE note”) and convertible notes. The Company evaluates estimates and assumptions on an ongoing basis using historical experience and other factors and adjusts those estimates and assumptions when facts and circumstances dictate. As future events and their effects cannot be determined with precision, actual results could differ from these estimates, and those differences could be material to the unaudited condensed consolidated financial statements. Going Concern The Company’s unaudited condensed consolidated financial statements have been presented on the basis that it is a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company is a development stage entity having no revenues and has incurred a net loss of $2,694,362 and $4,093,575 for the three and six months ended June 30, 2024, respectively. The Company has an accumulated deficit of $7,887,160 and stockholders’ deficit of $7,710,413 as of June 30, 2024. The Company expects to continue to incur significant costs in pursuit of its operating and investment plans. These costs exceed the Company’s existing cash balance and net working capital. These conditions raise substantial doubt about its ability to continue as a going concern. Stardust Power Inc. and Subsidiary NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) As of June 30, 2024 the Company has $641,966 of unrestricted cash. Upon completion of the Business Combination with GPAC II on July 8, 2024, the Company’s consolidated cash balance increased due to the PIPE investments of $<span id="xdx_90D_eus-gaap--OtherInvestments_iI_c20240708__us-gaap--BusinessAcquisitionAxis__custom--GPACIIMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zKwymHFwA3W7" title="PIPE Investments">10,075,000, and $<span id="xdx_901_ecustom--TrustAccountProceedsNet_c20240708__20240708__us-gaap--BusinessAcquisitionAxis__custom--GPACIIMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zSFv8kSTo3nd" title="Trust account proceeds, net">1,481,835 of trust account proceeds, net of redemptions and related fees. The Company is also required to make various payments including SPAC transaction costs incurred aggregating to $7,550,717 upon the close of the Business Combination. As of the date on which these unaudited condensed consolidated financial statements were available to be issued, we believe that the cash on hand, additional investments obtained through the Business Combination will be inadequate to satisfy Company’s working capital and capital expenditure requirements for at least the next twelve months. The ability of the Company to continue as a going concern is dependent upon management’s plan to raise additional capital from issuance of equity or receive additional borrowings to fund the Company’s operating and investing activities over the next year. These unaudited condensed consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Summary of Significant Accounting Policies The significant accounting policies applied in the Company’s audited consolidated financial statements as of and for the period March 16, 2023 (inception) through December 31, 2023, as disclosed in the Company’s registration statement on Form S-4/A filed with the SEC on May 8, 2024, are applied consistently in these unaudited interim condensed consolidated financial statements. Net Loss per Share Net (Loss) Income per Ordinary Share The Company adopted ASC 260, “Earnings per Share”, at its inception. Basic net loss per share is calculated by dividing the net loss by the weighted average number of common stock outstanding for the period. Diluted loss per share is calculated by dividing the Company’s net loss available to common stockholders by the diluted weighted average number of shares outstanding for the period. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted as at the first of the year for any potentially dilutive debt or equity. The following table sets forth the computation of the basic and diluted net loss per share: SCHEDULE OF BASIC AND DILUTED NET LOSS PER SHARE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three months ended</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="padding-bottom: 1pt; font-weight: bold; text-align: center"></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six months ended June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Period from March 16, 2023 (inception) through June 30, 2023</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 40%; text-align: left; padding-bottom: 2.5pt">Net loss</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--NetIncomeLoss_c20240401__20240630_zkXlP89Ggerl" style="border-bottom: Black 2.5pt double; width: 11%; text-align: right" title="Net loss">(2,694,362</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--NetIncomeLoss_c20230401__20230630_zCOvChUC9lGd" style="border-bottom: Black 2.5pt double; width: 11%; text-align: right" title="Net loss">(1,739,280</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--NetIncomeLoss_c20240101__20240630_z62wRUNVn5pl" style="border-bottom: Black 2.5pt double; width: 11%; text-align: right" title="Net loss">(4,093,575</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--NetIncomeLoss_c20230316__20230630_z2g2ekrpPXIk" style="border-bottom: Black 2.5pt double; width: 11%; text-align: right" title="Net loss">(1,984,785</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Weighted average shares outstanding</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,686,350</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,757,603</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,677,870</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,755,120</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 10pt">Net loss per share, basic and diluted</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.31</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.20</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.47</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.23</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> <p id="xdx_89D_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_z3TZKQrJiW3j" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The following potentially dilutive shares were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented, because including them would have had an anti-dilutive effect: SCHEDULE OF ANTI-DILUTIVE EFFECT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240101__20240630_z5q9Mep3WPgc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20230316__20230630_zqwl1Q9Thqui" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_404_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_ziSqDRz8wAdh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Unvested common stock – shares (Note 3)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">322,542</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">226,625</td><td style="width: 1%; text-align: left"> </td></tr> </table> Deferred Transaction Costs In accordance with ‘Codification of Staff Accounting Bulletins – Topic 5: Miscellaneous Accounting A. Expenses of Offering’ (“SAB Topic 5”), public offering related costs, including legal fees and advisory and consulting fees, are deferred until consummation/completion of the proposed public offering. The Company has deferred $2,829,196 and $1,005,109 of related costs incurred towards proposed public offering which are presented within current assets in the unaudited condensed consolidated balance sheets as at June 30, 2024 and December 31, 2023, respectively. Upon completion of the public offering contemplated herein, these amounts will be recorded as a reduction of stockholders’ equity as an offset against the proceeds of the offering. If the offering is terminated, the deferred offering costs will be expensed. Stardust Power Inc. and Subsidiary NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) Commitments and Contingencies Certain conditions may exist as at the date the unaudited condensed consolidated financial statements are issued, which may result in a loss to the Company, but which will only be resolved when one or more future events occur or fail to occur. The Company assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. The Company monitors the arrangements that are subject to guarantees in order to identify if the obligor who is responsible for making the payments fails to do so. If the Company determines it is probable that a loss has occurred, then any such estimable loss would be recognized under those guarantees. The methodology used to estimate potential loss related to guarantees considers the guarantee amount and a variety of factors, which include, depending on the counterparty, the latest financial position of the counterparty, actual defaults, historical defaults, and other economic conditions. Management does not believe, based upon information available at this time, that these matters will have a material adverse effect on the Company’s financial position, results of operations or cash flows. However, there is no assurance that such matters will not materially and adversely affect the Company’s business, financial position, and results of operations or cash flows. On March 13, 2024, Stardust and IGX Minerals LLC (“IGX”), entered into an exclusive Letter of Intent (“IGX LOI”) to potentially acquire interests in certain mining claims (“IGX Claims”). The contemplated transaction is subject to the entering into of a definitive agreement, due diligence by Stardust, and other factors. In connection with the entering into the non-binding IGX LOI, Stardust has paid a non-refundable payment of $30,000 in connection with obtaining a binding exclusivity right. Further, Stardust Power has agreed to binding provisions relating to (i) a right of first refusal in favor of Stardust Power and (ii) the delivery of a form promissory note in favor of IGX. If executed, the promissory note, in the amount of approximately $235,000, is to be used for the payment of the maintenance fees of the IGX Claims and is for a term of twenty-four (24) months with an annual interest rate of six percent (6%) and repayment due upon maturity. The IGX LOI provides that the promissory note will be entered into regardless of whether the parties have reached a definitive agreement by July 1, 2024. If Stardust acquires an interest in any of the IGX Claims, the balance of the promissory note shall be credited as part of Stardust’s investment and IGX shall not be required to repay the note. The promissory note has not been issued as of the date of issuance of unaudited condensed financial statements. On March 15, 2024, Stardust and Usha Resources Inc (“Usha Resources”) entered into a non-binding letter of intent, except for certain binding terms such as those relating to the exclusivity period until September 30, 2024 (“Jackpot LOI”) to acquire an interest in Usha Resources’ lithium brine project, situated in the United States. The contemplated transaction is subject to entering into a definitive agreement, due diligence by Stardust, and other factors. Stardust has made a non-refundable payment of $25,000 upon execution of the Jackpot LOI in connection with securing exclusivity and a further $50,000 payment (the “Second Payment”) is intended to be made by Stardust sixty days from March 15, 2024; provided that the Second Payment shall be non-refundable except if Usha Resources breaches the terms of the Jackpot LOI at which point Usha Resources shall refund the Second Payment together with all out-of-pocket expenses (including the fees and expenses of legal counsel, accountants and other advisors hereof) incurred by Stardust. If the parties enter into definitive agreements pursuant to the Jackpot LOI, (i) depending on the earn-in level, the total consideration could total up to $26,025,000 over five years inclusive of up to $18,025,000 in payments comprising cash and stock and a work commitment of $8,000,000. Upon completion of the full earn-in, including Net Smelter Royalty buyback, Usha Resources would retain 10% of the project and a 1% Net Smelter Royalty and would be carried in the joint venture’s (formed between Usha Resources and Stardust) receipt of a formal Decision to Mine following completion of a Feasibility Study. Usha Resources is in the process of conducting additional water testing with respect to a second hole. Given the early stage of this project, the full scope of any additional financing that may be required is not fully known; however, the Company has not entered into any arrangement for financing outside of the Jackpot LOI. On May 14, 2024, Company made the second payment as stated above and is presented as a deposit under other long term assets on the condensed consolidated balance sheet. Stardust Power Inc. and Subsidiary NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) Pre-acquisition capital project costs The Company has an exclusive option purchase agreement with the City of Muskogee, Oklahoma for 66 acres of undeveloped tract (excluding wetlands and creeks). The option was scheduled to end on the earlier of February 29, 2024, the date the property is purchased, or the termination of the agreement by either party. The agreement allows for two three-month extensions, provided that the Company is performing due diligence and pursuing permits and approvals. Non-refundable option payments of $25,000 and $75,000 were made on June 8, 2023, and October 10, 2023, respectively. The Company has capitalized these payments as pre-acquisition capital project costs as at June 30, 2024 and December 31, 2023 because these payments would be credited against the full purchase price of the land upon acquisition. On January 10, 2024, the Company entered into an agreement to exercise the option and purchase the land for an additional amount of $1,562,030. Title to the land is pending to be transferred in the Company’s name as at June 30, 2024. On May 2, 2024, the Company paid the first non-refundable extension payment of $33,333. The Company capitalized an additional $701,886 towards pre-acquisition capital project costs related to Front end loading (FEL-1) and environmental studies done during the six months ended June 30, 2024. On July 30, 2024, the Company paid the second non-refundable extension payment of $<span id="xdx_907_ecustom--DebtInstrumentPaymentForSecondNonRefundableExtensionPayment_iI_c20240630__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zxXn0IGJwq96" title="First non-refundable extension payment">33,333. Recently Issued Accounting Pronouncements Not Yet Adopted Recent Accounting Pronouncements The Company has reviewed the accounting pronouncements issued during the six months ended June 30, 2024 and concluded they were either not applicable or not expected to have a material impact on the Company’s condensed consolidated financial statements.

Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared on the accrual basis of accounting in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities Exchange Commission (“SEC”) regarding interim financial reporting. In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all normal and recurring adjustments (which consist primarily of accruals, estimates and assumptions that impact the unaudited condensed consolidated financial statements) considered necessary to present fairly the Company’s condensed consolidated balance sheet as of June 30, 2024, its condensed consolidated statements of operations, stockholders’ deficit for the three and six months ended June 30, 2024, three months ended June 30, 2023 and for the period March 16, 2023 (since inception) through June 30, 2023 and condensed statement of cashflows for six months ended June 30, 2024 and for the period March 16, 2023 (since inception) through June 30, 2023. Certain information and note disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. As such, the information included in this report should be read in conjunction with the audited consolidated financial statements and notes thereto for the period March 16, 2023 to December 31, 2023 included in the Company’s registration statement on Form S-4/A filed with the SEC on May 8, 2024. The condensed consolidated balance sheet as of December 31, 2023 included herein was derived from the audited financial statements as of that date but does not include all disclosures including notes required by U.S. GAAP. The condensed consolidated financial statements include the accounts of Stardust Power Inc. and its wholly owned subsidiary, Stardust Power LLC. All material intercompany balances have been eliminated upon consolidation. These unaudited condensed consolidated financial statements are presented in U.S. dollars.

Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the amounts reported and disclosed in the condensed consolidated financial statements and accompanying notes. Those estimates and assumptions include, but are not limited to, useful life of computer and equipment, realization of deferred tax assets, fair valuation of investment in equity securities and fair valuation of stock-based compensation, simple agreement for future equity note (“SAFE note”) and convertible notes. The Company evaluates estimates and assumptions on an ongoing basis using historical experience and other factors and adjusts those estimates and assumptions when facts and circumstances dictate. As future events and their effects cannot be determined with precision, actual results could differ from these estimates, and those differences could be material to the unaudited condensed consolidated financial statements.

Going Concern The Company’s unaudited condensed consolidated financial statements have been presented on the basis that it is a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company is a development stage entity having no revenues and has incurred a net loss of $2,694,362 and $4,093,575 for the three and six months ended June 30, 2024, respectively. The Company has an accumulated deficit of $7,887,160 and stockholders’ deficit of $7,710,413 as of June 30, 2024. The Company expects to continue to incur significant costs in pursuit of its operating and investment plans. These costs exceed the Company’s existing cash balance and net working capital. These conditions raise substantial doubt about its ability to continue as a going concern. Stardust Power Inc. and Subsidiary NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) As of June 30, 2024 the Company has $641,966 of unrestricted cash. Upon completion of the Business Combination with GPAC II on July 8, 2024, the Company’s consolidated cash balance increased due to the PIPE investments of $<span id="xdx_90D_eus-gaap--OtherInvestments_iI_c20240708__us-gaap--BusinessAcquisitionAxis__custom--GPACIIMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zKwymHFwA3W7" title="PIPE Investments">10,075,000, and $<span id="xdx_901_ecustom--TrustAccountProceedsNet_c20240708__20240708__us-gaap--BusinessAcquisitionAxis__custom--GPACIIMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zSFv8kSTo3nd" title="Trust account proceeds, net">1,481,835 of trust account proceeds, net of redemptions and related fees. The Company is also required to make various payments including SPAC transaction costs incurred aggregating to $7,550,717 upon the close of the Business Combination. As of the date on which these unaudited condensed consolidated financial statements were available to be issued, we believe that the cash on hand, additional investments obtained through the Business Combination will be inadequate to satisfy Company’s working capital and capital expenditure requirements for at least the next twelve months. The ability of the Company to continue as a going concern is dependent upon management’s plan to raise additional capital from issuance of equity or receive additional borrowings to fund the Company’s operating and investing activities over the next year. These unaudited condensed consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Summary of Significant Accounting Policies The significant accounting policies applied in the Company’s audited consolidated financial statements as of and for the period March 16, 2023 (inception) through December 31, 2023, as disclosed in the Company’s registration statement on Form S-4/A filed with the SEC on May 8, 2024, are applied consistently in these unaudited interim condensed consolidated financial statements.

-2694362

-4093575

-7887160

-7710413

641966

10075000

1481835

7550717

Net Loss per Share Net (Loss) Income per Ordinary Share The Company adopted ASC 260, “Earnings per Share”, at its inception. Basic net loss per share is calculated by dividing the net loss by the weighted average number of common stock outstanding for the period. Diluted loss per share is calculated by dividing the Company’s net loss available to common stockholders by the diluted weighted average number of shares outstanding for the period. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted as at the first of the year for any potentially dilutive debt or equity. The following table sets forth the computation of the basic and diluted net loss per share: SCHEDULE OF BASIC AND DILUTED NET LOSS PER SHARE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three months ended</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="padding-bottom: 1pt; font-weight: bold; text-align: center"></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six months ended June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Period from March 16, 2023 (inception) through June 30, 2023</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 40%; text-align: left; padding-bottom: 2.5pt">Net loss</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--NetIncomeLoss_c20240401__20240630_zkXlP89Ggerl" style="border-bottom: Black 2.5pt double; width: 11%; text-align: right" title="Net loss">(2,694,362</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--NetIncomeLoss_c20230401__20230630_zCOvChUC9lGd" style="border-bottom: Black 2.5pt double; width: 11%; text-align: right" title="Net loss">(1,739,280</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--NetIncomeLoss_c20240101__20240630_z62wRUNVn5pl" style="border-bottom: Black 2.5pt double; width: 11%; text-align: right" title="Net loss">(4,093,575</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--NetIncomeLoss_c20230316__20230630_z2g2ekrpPXIk" style="border-bottom: Black 2.5pt double; width: 11%; text-align: right" title="Net loss">(1,984,785</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Weighted average shares outstanding</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,686,350</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,757,603</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,677,870</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,755,120</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 10pt">Net loss per share, basic and diluted</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.31</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.20</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.47</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.23</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> <p id="xdx_89D_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_z3TZKQrJiW3j" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The following potentially dilutive shares were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented, because including them would have had an anti-dilutive effect: SCHEDULE OF ANTI-DILUTIVE EFFECT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240101__20240630_z5q9Mep3WPgc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20230316__20230630_zqwl1Q9Thqui" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_404_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_ziSqDRz8wAdh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Unvested common stock – shares (Note 3)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">322,542</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">226,625</td><td style="width: 1%; text-align: left"> </td></tr> </table>

The following table sets forth the computation of the basic and diluted net loss per share: SCHEDULE OF BASIC AND DILUTED NET LOSS PER SHARE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three months ended</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="padding-bottom: 1pt; font-weight: bold; text-align: center"></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six months ended June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Period from March 16, 2023 (inception) through June 30, 2023</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 40%; text-align: left; padding-bottom: 2.5pt">Net loss</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--NetIncomeLoss_c20240401__20240630_zkXlP89Ggerl" style="border-bottom: Black 2.5pt double; width: 11%; text-align: right" title="Net loss">(2,694,362</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--NetIncomeLoss_c20230401__20230630_zCOvChUC9lGd" style="border-bottom: Black 2.5pt double; width: 11%; text-align: right" title="Net loss">(1,739,280</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--NetIncomeLoss_c20240101__20240630_z62wRUNVn5pl" style="border-bottom: Black 2.5pt double; width: 11%; text-align: right" title="Net loss">(4,093,575</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--NetIncomeLoss_c20230316__20230630_z2g2ekrpPXIk" style="border-bottom: Black 2.5pt double; width: 11%; text-align: right" title="Net loss">(1,984,785</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Weighted average shares outstanding</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,686,350</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,757,603</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,677,870</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,755,120</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 10pt">Net loss per share, basic and diluted</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.31</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.20</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.47</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.23</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

-2694362

-1739280

-4093575

-1984785

8686350

8757603

8677870

8755120

-0.31

-0.20

-0.47

-0.23

<p id="xdx_89D_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_z3TZKQrJiW3j" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The following potentially dilutive shares were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented, because including them would have had an anti-dilutive effect: SCHEDULE OF ANTI-DILUTIVE EFFECT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240101__20240630_z5q9Mep3WPgc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20230316__20230630_zqwl1Q9Thqui" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_404_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_ziSqDRz8wAdh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Unvested common stock – shares (Note 3)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">322,542</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">226,625</td><td style="width: 1%; text-align: left"> </td></tr> </table>

322542

226625

Deferred Transaction Costs In accordance with ‘Codification of Staff Accounting Bulletins – Topic 5: Miscellaneous Accounting A. Expenses of Offering’ (“SAB Topic 5”), public offering related costs, including legal fees and advisory and consulting fees, are deferred until consummation/completion of the proposed public offering. The Company has deferred $2,829,196 and $1,005,109 of related costs incurred towards proposed public offering which are presented within current assets in the unaudited condensed consolidated balance sheets as at June 30, 2024 and December 31, 2023, respectively. Upon completion of the public offering contemplated herein, these amounts will be recorded as a reduction of stockholders’ equity as an offset against the proceeds of the offering. If the offering is terminated, the deferred offering costs will be expensed. Stardust Power Inc. and Subsidiary NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

2829196

1005109

Commitments and Contingencies Certain conditions may exist as at the date the unaudited condensed consolidated financial statements are issued, which may result in a loss to the Company, but which will only be resolved when one or more future events occur or fail to occur. The Company assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. The Company monitors the arrangements that are subject to guarantees in order to identify if the obligor who is responsible for making the payments fails to do so. If the Company determines it is probable that a loss has occurred, then any such estimable loss would be recognized under those guarantees. The methodology used to estimate potential loss related to guarantees considers the guarantee amount and a variety of factors, which include, depending on the counterparty, the latest financial position of the counterparty, actual defaults, historical defaults, and other economic conditions. Management does not believe, based upon information available at this time, that these matters will have a material adverse effect on the Company’s financial position, results of operations or cash flows. However, there is no assurance that such matters will not materially and adversely affect the Company’s business, financial position, and results of operations or cash flows. On March 13, 2024, Stardust and IGX Minerals LLC (“IGX”), entered into an exclusive Letter of Intent (“IGX LOI”) to potentially acquire interests in certain mining claims (“IGX Claims”). The contemplated transaction is subject to the entering into of a definitive agreement, due diligence by Stardust, and other factors. In connection with the entering into the non-binding IGX LOI, Stardust has paid a non-refundable payment of $30,000 in connection with obtaining a binding exclusivity right. Further, Stardust Power has agreed to binding provisions relating to (i) a right of first refusal in favor of Stardust Power and (ii) the delivery of a form promissory note in favor of IGX. If executed, the promissory note, in the amount of approximately $235,000, is to be used for the payment of the maintenance fees of the IGX Claims and is for a term of twenty-four (24) months with an annual interest rate of six percent (6%) and repayment due upon maturity. The IGX LOI provides that the promissory note will be entered into regardless of whether the parties have reached a definitive agreement by July 1, 2024. If Stardust acquires an interest in any of the IGX Claims, the balance of the promissory note shall be credited as part of Stardust’s investment and IGX shall not be required to repay the note. The promissory note has not been issued as of the date of issuance of unaudited condensed financial statements. On March 15, 2024, Stardust and Usha Resources Inc (“Usha Resources”) entered into a non-binding letter of intent, except for certain binding terms such as those relating to the exclusivity period until September 30, 2024 (“Jackpot LOI”) to acquire an interest in Usha Resources’ lithium brine project, situated in the United States. The contemplated transaction is subject to entering into a definitive agreement, due diligence by Stardust, and other factors. Stardust has made a non-refundable payment of $25,000 upon execution of the Jackpot LOI in connection with securing exclusivity and a further $50,000 payment (the “Second Payment”) is intended to be made by Stardust sixty days from March 15, 2024; provided that the Second Payment shall be non-refundable except if Usha Resources breaches the terms of the Jackpot LOI at which point Usha Resources shall refund the Second Payment together with all out-of-pocket expenses (including the fees and expenses of legal counsel, accountants and other advisors hereof) incurred by Stardust. If the parties enter into definitive agreements pursuant to the Jackpot LOI, (i) depending on the earn-in level, the total consideration could total up to $26,025,000 over five years inclusive of up to $18,025,000 in payments comprising cash and stock and a work commitment of $8,000,000. Upon completion of the full earn-in, including Net Smelter Royalty buyback, Usha Resources would retain 10% of the project and a 1% Net Smelter Royalty and would be carried in the joint venture’s (formed between Usha Resources and Stardust) receipt of a formal Decision to Mine following completion of a Feasibility Study. Usha Resources is in the process of conducting additional water testing with respect to a second hole. Given the early stage of this project, the full scope of any additional financing that may be required is not fully known; however, the Company has not entered into any arrangement for financing outside of the Jackpot LOI. On May 14, 2024, Company made the second payment as stated above and is presented as a deposit under other long term assets on the condensed consolidated balance sheet. Stardust Power Inc. and Subsidiary NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

30000 235000

0.06

25000 50000 26025000 18025000 8000000 Pre-acquisition capital project costs The Company has an exclusive option purchase agreement with the City of Muskogee, Oklahoma for 66 acres of undeveloped tract (excluding wetlands and creeks). The option was scheduled to end on the earlier of February 29, 2024, the date the property is purchased, or the termination of the agreement by either party. The agreement allows for two three-month extensions, provided that the Company is performing due diligence and pursuing permits and approvals. Non-refundable option payments of $25,000 and $75,000 were made on June 8, 2023, and October 10, 2023, respectively. The Company has capitalized these payments as pre-acquisition capital project costs as at June 30, 2024 and December 31, 2023 because these payments would be credited against the full purchase price of the land upon acquisition. On January 10, 2024, the Company entered into an agreement to exercise the option and purchase the land for an additional amount of $1,562,030. Title to the land is pending to be transferred in the Company’s name as at June 30, 2024. On May 2, 2024, the Company paid the first non-refundable extension payment of $33,333. The Company capitalized an additional $701,886 towards pre-acquisition capital project costs related to Front end loading (FEL-1) and environmental studies done during the six months ended June 30, 2024. On July 30, 2024, the Company paid the second non-refundable extension payment of $<span id="xdx_907_ecustom--DebtInstrumentPaymentForSecondNonRefundableExtensionPayment_iI_c20240630__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zxXn0IGJwq96" title="First non-refundable extension payment">33,333. 25000 75000

1562030

33333

701886

33333

Recently Issued Accounting Pronouncements Not Yet Adopted Recent Accounting Pronouncements The Company has reviewed the accounting pronouncements issued during the six months ended June 30, 2024 and concluded they were either not applicable or not expected to have a material impact on the Company’s condensed consolidated financial statements.

NOTE 3 – STOCK-BASED COMPENSATION Shares Issued at Inception At March 16, 2023 (inception), certain employees and service providers participated in the purchase of restricted common stock of the Company aggregating to 550,000 shares. Out of the total, certain restricted stocks vested immediately and remaining unvested restricted stock aggregating to 259,000 shares vests over 24 months subject to service conditions and accelerated vesting upon certain events. The agreements also contain a repurchase option noting that if the employee or service provider is terminated, for any reason, the Company has the right and option to repurchase the service provider’s unvested restricted common stock. Separate and apart from this repurchase option for unvested awards, if at any time holders of vested shares intend to sell or transfer their holdings to a third-party (other than permitted family transfers), the Company has an option to exercise a right of first refusal (“ROFR”) to purchase these subject shares at the intended negotiated price between the holder and the third-party. The ROFR would remain active until the earlier of an initial public offering of the Company’s common stock or the occurrence of the defined change in control event. The existence of the ROFR does not affect the equity classification for the Company’s share-based awards as the possibility of a triggering event for the ROFR within six months of vesting is remote. Since all shareholders purchased the shares at par value of $0.00001 and the shares had no incremental value beyond the par value as at that date, during the period from March 16, 2023 (inception) through June 30, 2023 and six months ended June 30, 2024, the stock-based compensation expense impact is insignificant. As at June 30, 2024, 40,875 outstanding shares had not vested and the weighted average remaining contractual period of the unvested restricted stock is 0.75 years. Any shares subject to repurchase by the Company are not deemed, for accounting purposes, to be outstanding until those shares vest. The amount to be recorded as liabilities associated with shares issued with repurchase rights were immaterial as at June 30, 2024 and December 31, 2023. Stardust Power Inc. and Subsidiary NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) <p id="xdx_89B_eus-gaap--ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_zGt1w49la0Zg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">Restricted stock activity for the six months ended June 30, 2024 and balances as at the end of June 30, 2024 were as follows: SCHEDULE OF RESTRICTED STOCK ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Restricted Stock</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number of shares</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Grant-Date Fair Value</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Unvested as of December 31, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20240101__20240630_zaAs1IEuNkOc" style="width: 16%; text-align: right" title="Number of shares, Unvested">68,125</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20240101__20240630_zabMqGOt7P5j" style="width: 16%; text-align: right" title="Weighted Average Grant Date Fair Value - Unvested">0.00001</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20240101__20240630_zhRbvJOi4Zg4" style="text-align: right" title="Number of shares, Granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20240101__20240630_zYPVSPFKnWTf" style="text-align: right" title="Weighted Average Grant Date Fair Value - Granted">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_di_c20240101__20240630_zYqeplaSiMDa" style="text-align: right" title="Number of shares, Vested">(27,250</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pid_c20240101__20240630_zNkTfXwHXHFe" style="text-align: right" title="Weighted Average Grant Date Fair Value - Vested">0.00001</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_di_c20240101__20240630_z8vK4x8JfLC" style="border-bottom: Black 1pt solid; text-align: right" title="Number of shares, Forfeited">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20240101__20240630_zATp92t9B7Z6" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Grant Date Fair Value - Forfeited">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Unvested as of June 30, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20240101__20240630_zfGxp9Krk2N" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares, Unvested">40,875</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20240101__20240630_zm7A2XKgZrG1" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Grant Date Fair Value - Unvested">0.00001</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Equity Incentive Plan At March 16, 2023 (inception), the Company’s stockholders approved the 2023 Equity Incentive Plan and 500,000 shares of the Company’s common stock have been reserved for issuance under the plan. During the three months ended June 30, 2024, the Board adopted a resolution to increase the number of shares of Common Stock authorized for issuance under the 2023 Equity Plan by <span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_c20240630__srt--TitleOfIndividualAxis__srt--BoardOfDirectorsChairmanMember__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeEquityPlanMember_zOQbecSHcp0f" title="Common stock, shares authorized">250,000 shares of Common Stock. During the period ended June 30, 2023, there have been no grants under the 2023 Equity Incentive Plan. During October and November 2023, the Company granted options for 495,000 shares of stock options under the 2023 Equity Incentive Plan: <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20231001__20231031__srt--TitleOfIndividualAxis__custom--EmployeeMember_zDzabB2CmMyd" title="Shares granted"><span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20231101__20231130__srt--TitleOfIndividualAxis__custom--EmployeeMember_zNSuwvUZnEOk" title="Shares granted">475,000 options were granted to employees and <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20231001__20231031__srt--TitleOfIndividualAxis__custom--ConsultantMember_zsorbFCHiZf8" title="Shares granted"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20231101__20231130__srt--TitleOfIndividualAxis__custom--ConsultantMember_zCph0UeIG5ul" title="Shares granted">20,000 options were granted to a consultant. The employee grants vest over a period of <span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_dtY_c20231001__20231031__srt--RangeAxis__srt--MinimumMember_zSngqP80g8E4" title="Shares vesting period"><span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_dtY_c20231101__20231130__srt--RangeAxis__srt--MinimumMember_zDbNYNavLpNd" title="Shares vesting period">3 to <span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_dtY_c20231001__20231031__srt--RangeAxis__srt--MaximumMember_zIcpcobZmsU4" title="Shares vesting period"><span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_dtY_c20231101__20231130__srt--RangeAxis__srt--MaximumMember_zuOuhyCD2Wga" title="Shares vesting period">5 years, and the consultant grant vests over <span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_c20231001__20231031__srt--TitleOfIndividualAxis__custom--ConsultantMember_zMphhS3KSBBg" title="Shares vesting period"><span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_c20231101__20231130__srt--TitleOfIndividualAxis__custom--ConsultantMember_z14Un2IBeScc" title="Shares vesting period">18 months. The options granted to both employees and the consultant were exercisable at the exercise price of $<span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20231001__20231031_zHqN7YTLCrU8" title="Shares granted exercise price"><span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20231101__20231130_zT2kDCtJrV5c" title="Shares granted exercise price">0.03. All the options under the 2023 Equity Incentive Plan were early-exercised by grantees. Accordingly, the Company received a total amount of $14,850 towards the early exercise of these options during the period from March 16, 2023 (inception) through December 31, 2023 and recorded a liability against the early exercise of these options. On December 14, 2023, the Company repurchased 200,000 unvested shares that were granted to Abi Adeoti under the 2023 Equity Incentive Plan at the original exercise price of $0.03. The Company repaid a total amount of $6,000 for the repurchase of these early exercised shares from Abi Adeoti in January 2024. The amount is charged against the ‘Early exercised shares option liability’. The early exercised shares liability amounting to $8,450 and $8,650 is outstanding as on June 30, 2024 and December 31, 2023, respectively, and is presented under ‘Early exercised shares option liability’ on the unaudited condensed consolidated balance sheet. Stock option activity for the six months ended June 30, 2024, and balances as at the end of June 30, 2024 were as follows: SCHEDULE OF STOCK OPTION ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Grant-Date Fair Value</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Unvested as at December 31, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20240101__20240630_zoMM9jM5XIb1" style="width: 16%; text-align: right" title="Number of shares, Granted">288,333</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_uUSDPShares_c20240101__20240630_zsOBYxpF5ov8" style="width: 16%; text-align: right" title="Weighted Average Grant Date Fair Value - Unvested">2.62</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20240101__20240630_zxD1AgjD7WM2" style="text-align: right" title="Number of shares, Granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20240101__20240630_zXDnMNiQzCik" style="text-align: right" title="Weighted Average Grant Date Fair Value - Forfeited">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedInPeriodGross_c20240101__20240630_ziTvFCDsSdi8" style="text-align: right" title="Number of shares, Vested">(6,666</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsVestedInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20240101__20240630_zPx1luA5QjE9" style="text-align: right" title="Weighted Average Grant Date Fair Value - Vested">3.50</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_di_c20240101__20240630_zTrGFCfuMPM9" style="border-bottom: Black 1pt solid; text-align: right" title="Number of shares, Forfeited">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20240101__20240630_zJPSWRQjR2Qe" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Grant Date Fair Value - Forfeited">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Unvested as at June 30, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20240101__20240630_z3NOJTO4Njq1" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares, Unvested">281,667</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_uUSDPShares_c20240101__20240630_zpGBQjzBQPxi" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Grant Date Fair Value - Unvested">2.62</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Stardust Power Inc. and Subsidiary NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) <p id="xdx_892_eus-gaap--ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock_zABQ9OPDRje5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The compensation expense for stock options was as follows: SCHEDULE OF COMPENSATION EXPENSE FOR STOCK OPTION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Three months ended </td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="padding-bottom: 1pt; text-align: center"> </td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six months endedJune 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Period from March 16, 2023 (inception) through June 30, 2023</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">General and administrative expenses</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensation_c20240401__20240630_z9szjGgNlXB6" style="width: 11%; text-align: right" title="General and administrative expenses">58,125</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensation_c20230401__20230630_zc0PpTMIvAQc" style="width: 11%; text-align: right" title="General and administrative expenses">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensation_c20240101__20240630_z0uxpY2JIlm" style="width: 11%; text-align: right" title="General and administrative expenses">117,724</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensation_c20230316__20230630_zRk8mCJMCZ07" style="width: 11%; text-align: right" title="General and administrative expenses">-</td><td style="width: 1%; text-align: left"> </td></tr> </table> As at June 30, 2024, total unvested compensation cost for stock options granted to employees not yet recognized was $<span id="xdx_90D_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_iI_c20240630__srt--TitleOfIndividualAxis__custom--EmployeesMember_zAxFYWGXLnVh" title="Compensation not yet recognized">581,155. The Company expects to recognize this compensation over a weighted average period of approximately <span id="xdx_90C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240101__20240630__srt--TitleOfIndividualAxis__custom--EmployeesMember_z38WvQUZvBo7" title="Stock based compensation term">3.12 years. As at June 30, 2024, total unvested compensation cost for stock options granted to the consultant not yet recognized was $<span id="xdx_90A_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_iI_c20240630__srt--TitleOfIndividualAxis__custom--ConsultantMember_zHIAfopf0tEc" title="Compensation not yet recognized">19,820. We expect to recognize this compensation over a period of <span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240101__20240630__srt--TitleOfIndividualAxis__custom--ConsultantMember_zjL1fIT7ihvb" title="Stock based compensation term">0.5 year. <p id="xdx_893_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zRuWd81Ycpsg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The weighted average fair value of option granted during period from March 16, 2023 (inception) through December 31, 2023 are provided below. The fair value was estimated on the date of grant using the Black-Scholes pricing model with the assumptions indicated below: SCHEDULE OF FAIR VALUE ASSUMPTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected option life (years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20230316__20231231__srt--RangeAxis__srt--MinimumMember_z6pNAz0Fn2C1" title="Expected option life (years)">5.07 - <span id="xdx_90A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20230316__20231231__srt--RangeAxis__srt--MaximumMember_zhQSYRyrtgPj" title="Expected option life (years)">5.93 years</td><td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; width: 78%">Expected volatility</td><td style="width: 2%"> </td> <td style="text-align: left; width: 1%"> </td><td style="text-align: right; width: 18%"><span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum_pid_dp_uPure_c20230316__20231231_zZYVOcYkTAw1" title="Expected volatility, minimum">60% - <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum_pid_dp_uPure_c20230316__20231231_z39tXvkLqbhd" title="Expected volatility, maximum">70</td><td style="width: 1%; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Risk-free interest rate at grant date</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum_pid_dp_c20230316__20231231_zAZE5iaseII3" title="Risk-free interest rate at grant date, minimum">3.84 - <span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum_pid_dp_c20230316__20231231_zhNXjtK0zSY6" title="Risk-free interest rate at grant date, maximum">3.86</td><td style="text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Dividend yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0</td><td style="text-align: left">%</td> </tr> </table> Due to the absence of an active market for the Company’s common stock, the Company utilized methodologies in accordance with the framework of the American Institute of Certified Public Accountants Technical Practice Aid (Valuation of Privately Held Company Equity Securities Issued as Compensation) to estimate the fair value of its common stock. In determining the exercise prices for options granted, the Company has considered the estimated fair value of the common stock as at the grant date. The estimated fair value of the common stock has been determined at each grant date based upon a variety of factors, including the business, financial condition and results of operations, economic and industry trends, the illiquid nature of the common stock, the market performance of peer group of similar publicly traded companies, and future business plans of the Company. Significant changes to the key assumptions underlying the factors used could result in different fair values of common stock at each valuation date. The Company based the risk-free interest rate on a U.S. Treasury Bond Yield with a term substantially equal to the option’s expected term. The Company based the expected volatility on a blend of historical volatility and implied volatility derived from price of publicly traded shares of peer group of similar companies. The expected term represents the period that stock-based awards are expected to be outstanding. The expected term for option grants is determined using the simplified method which represents the average of the contractual term of the option and the weighted average vesting period of the option. The Company considers this appropriate as there is not sufficient historical information available to develop reasonable expectations about future exercise patterns and post-vesting employment termination behavior. During the three months ended June 30, 2024, the Company granted <span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20240401__20240630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeEquityPlanMember_zR5JguXp5M67">440,000 restricted stock units (RSU”) to employees under the 2023 Equity Incentive Plan. These RSU’s are subject to a service-based vesting requirement, and a liquidity plus service-based vesting requirement, which is defined as completion of a go public transaction or change in control. In order for any shares to vest, both the service-based vesting requirement and the liquidity plus service-based vesting requirement must be satisfied with respect to such shares. As at June 30, 2024, the liquidity plus service-based vesting requirement has not been met and hence no compensation expense has been recognized for these RSU’s. As such these RSUs are not issued as at the date the condensed consolidated financial statements were available to be issued. Stardust Power Inc. and Subsidiary NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

550000

259000

0.00001

40875

P0Y9M

<p id="xdx_89B_eus-gaap--ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_zGt1w49la0Zg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">Restricted stock activity for the six months ended June 30, 2024 and balances as at the end of June 30, 2024 were as follows: SCHEDULE OF RESTRICTED STOCK ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Restricted Stock</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number of shares</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Grant-Date Fair Value</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Unvested as of December 31, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20240101__20240630_zaAs1IEuNkOc" style="width: 16%; text-align: right" title="Number of shares, Unvested">68,125</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20240101__20240630_zabMqGOt7P5j" style="width: 16%; text-align: right" title="Weighted Average Grant Date Fair Value - Unvested">0.00001</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20240101__20240630_zhRbvJOi4Zg4" style="text-align: right" title="Number of shares, Granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20240101__20240630_zYPVSPFKnWTf" style="text-align: right" title="Weighted Average Grant Date Fair Value - Granted">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_di_c20240101__20240630_zYqeplaSiMDa" style="text-align: right" title="Number of shares, Vested">(27,250</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pid_c20240101__20240630_zNkTfXwHXHFe" style="text-align: right" title="Weighted Average Grant Date Fair Value - Vested">0.00001</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_di_c20240101__20240630_z8vK4x8JfLC" style="border-bottom: Black 1pt solid; text-align: right" title="Number of shares, Forfeited">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20240101__20240630_zATp92t9B7Z6" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Grant Date Fair Value - Forfeited">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Unvested as of June 30, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20240101__20240630_zfGxp9Krk2N" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares, Unvested">40,875</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20240101__20240630_zm7A2XKgZrG1" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Grant Date Fair Value - Unvested">0.00001</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

68125

0.00001

27250

0.00001

40875

0.00001

500000

250000

495000

475000

20000

P3Y

P5Y

P18M

0.03

14850

200000

0.03

6000

8450 8650

Stock option activity for the six months ended June 30, 2024, and balances as at the end of June 30, 2024 were as follows: SCHEDULE OF STOCK OPTION ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Grant-Date Fair Value</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Unvested as at December 31, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20240101__20240630_zoMM9jM5XIb1" style="width: 16%; text-align: right" title="Number of shares, Granted">288,333</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_uUSDPShares_c20240101__20240630_zsOBYxpF5ov8" style="width: 16%; text-align: right" title="Weighted Average Grant Date Fair Value - Unvested">2.62</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20240101__20240630_zxD1AgjD7WM2" style="text-align: right" title="Number of shares, Granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20240101__20240630_zXDnMNiQzCik" style="text-align: right" title="Weighted Average Grant Date Fair Value - Forfeited">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedInPeriodGross_c20240101__20240630_ziTvFCDsSdi8" style="text-align: right" title="Number of shares, Vested">(6,666</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsVestedInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20240101__20240630_zPx1luA5QjE9" style="text-align: right" title="Weighted Average Grant Date Fair Value - Vested">3.50</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_di_c20240101__20240630_zTrGFCfuMPM9" style="border-bottom: Black 1pt solid; text-align: right" title="Number of shares, Forfeited">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20240101__20240630_zJPSWRQjR2Qe" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Grant Date Fair Value - Forfeited">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Unvested as at June 30, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20240101__20240630_z3NOJTO4Njq1" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares, Unvested">281,667</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_uUSDPShares_c20240101__20240630_zpGBQjzBQPxi" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Grant Date Fair Value - Unvested">2.62</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

288333

2.62

-6666 3.50

281667

2.62

<p id="xdx_892_eus-gaap--ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock_zABQ9OPDRje5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The compensation expense for stock options was as follows: SCHEDULE OF COMPENSATION EXPENSE FOR STOCK OPTION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Three months ended </td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="padding-bottom: 1pt; text-align: center"> </td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six months endedJune 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Period from March 16, 2023 (inception) through June 30, 2023</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">General and administrative expenses</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensation_c20240401__20240630_z9szjGgNlXB6" style="width: 11%; text-align: right" title="General and administrative expenses">58,125</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensation_c20230401__20230630_zc0PpTMIvAQc" style="width: 11%; text-align: right" title="General and administrative expenses">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensation_c20240101__20240630_z0uxpY2JIlm" style="width: 11%; text-align: right" title="General and administrative expenses">117,724</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensation_c20230316__20230630_zRk8mCJMCZ07" style="width: 11%; text-align: right" title="General and administrative expenses">-</td><td style="width: 1%; text-align: left"> </td></tr> </table>

58125

117724

581155

P3Y1M13D

19820

P0Y6M

<p id="xdx_893_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zRuWd81Ycpsg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The weighted average fair value of option granted during period from March 16, 2023 (inception) through December 31, 2023 are provided below. The fair value was estimated on the date of grant using the Black-Scholes pricing model with the assumptions indicated below: SCHEDULE OF FAIR VALUE ASSUMPTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected option life (years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20230316__20231231__srt--RangeAxis__srt--MinimumMember_z6pNAz0Fn2C1" title="Expected option life (years)">5.07 - <span id="xdx_90A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20230316__20231231__srt--RangeAxis__srt--MaximumMember_zhQSYRyrtgPj" title="Expected option life (years)">5.93 years</td><td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; width: 78%">Expected volatility</td><td style="width: 2%"> </td> <td style="text-align: left; width: 1%"> </td><td style="text-align: right; width: 18%"><span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum_pid_dp_uPure_c20230316__20231231_zZYVOcYkTAw1" title="Expected volatility, minimum">60% - <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum_pid_dp_uPure_c20230316__20231231_z39tXvkLqbhd" title="Expected volatility, maximum">70</td><td style="width: 1%; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Risk-free interest rate at grant date</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum_pid_dp_c20230316__20231231_zAZE5iaseII3" title="Risk-free interest rate at grant date, minimum">3.84 - <span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum_pid_dp_c20230316__20231231_zhNXjtK0zSY6" title="Risk-free interest rate at grant date, maximum">3.86</td><td style="text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Dividend yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0</td><td style="text-align: left">%</td> </tr> </table>

P5Y25D

P5Y11M4D

0.60

0.70

0.0384

0.0386

440000

NOTE 4 – INVESTMENT In October 2023, the Company subscribed to and purchased <span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20231001__20231031__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--QXResourcesLimitedMember_z4RgjdkhFVga" title="Ordinary shares">13,949,579 ordinary shares (<span id="xdx_902_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_uPure_c20231031__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--QXResourcesLimitedMember_zYKWYRxSw4oj" title="Total equity percentage">1.26% of the total equity) of QX Resources Limited (“QX Resources”), a limited liability company whose ordinary shares are listed on the Australian Securities Exchange (“ASX”), for $200,000. <span id="xdx_90F_eus-gaap--DescriptionOfNetInvestmentHedgeActivity_c20231001__20231031__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--QXResourcesLimitedMember_zVBu2TwOrlu4" title="Description of net investment hedge activity">This investment in the ordinary shares of QX Resources has been made for strategic purposes and specifically with an intention to gain access for conducting feasibility studies for the production of lithium products from the lithium brine surface anomaly identified over the 102 square-kilometer Liberty Lithium Brine Project in SaltFire Flat, California, USA (the “Project”) for which QX Resources has a binding Option to Purchase Agreement and Operating Agreement to earn a 75% interest of the Project from IG Lithium LLC (“the Earn-in venture”). The Company is not a direct party to the Earn-in venture and accordingly has no direct or indirect economic or controlling interest either in the Project or in any of the associated rights originating from the Earn-in venture held by QX Resources. The Company will conduct feasibility studies to assess the lithium brine at its own cost and if successful, will have the option to execute a commercial off-take agreement with QX Resources for the supply of brine from the Project. No formal off-take agreement has been executed as at June 30, 2024. Further, no material expenses have been incurred towards the feasibility studies during the three and six months ended June 30, 2024. All costs associated with the feasibility studies would be expensed as incurred. The Company neither has a controlling financial interest nor does it exercise significant influence over QX Resources. Accordingly, the investment in QX Resources’ ordinary shares does not result in either consolidation or application of equity method of accounting for the Company. QX Resources’ ordinary shares are listed on the ASX with a readily determinable fair value and change in fair value is recognized in the unaudited condensed consolidated statement of operations. Accordingly, the investment in these securities has been recorded at cost at initial recognition and at fair value of $<span id="xdx_909_eus-gaap--InvestmentOwnedAtFairValue_iI_c20240630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--QXResourcesLimitedMember_zBPTLVFc1BQe" title="Initial recognition fair value">55,884 and $<span id="xdx_903_eus-gaap--InvestmentOwnedAtFairValue_iI_c20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--QXResourcesLimitedMember_zWvqt8puFUsh" title="Initial recognition fair value">218,556 as at June 30, 2024 and December 31, 2023, respectively. The Company recognized a loss of $<span id="xdx_907_eus-gaap--PrincipalInvestmentGainsLosses_c20240401__20240630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--QXResourcesLimitedMember_zB3rKn7SBD2" title="Principal investment loss">108,014 and $<span id="xdx_905_eus-gaap--PrincipalInvestmentGainsLosses_c20240101__20240630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--QXResourcesLimitedMember_z9WESSPsTw3f" title="Principal investment loss">162,672 for the three and six months ended June 30, 2024, respectively and $<span id="xdx_901_eus-gaap--PrincipalInvestmentGainsLosses_dxL_c20230401__20230630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--QXResourcesLimitedMember_zEeaSY8vE55k" title="Principal investment loss::XDX::-"><span id="xdx_90D_eus-gaap--PrincipalInvestmentGainsLosses_dxL_c20230316__20230630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--QXResourcesLimitedMember_z2RZv3edKnOa" title="Principal investment loss::XDX::-">Nil for both the three months ended June 30, 2023 and for the period from March 16, 2023 (inception) to June 30, 2023, respectively, due to change in fair value of securities in the unaudited condensed consolidated statement of operations. Further, this investment in securities has been disclosed outside of current assets on the unaudited condensed consolidated balance sheet in accordance with ASC 210-10-45-4 because the investment has been made for the purpose of affiliation and continuing business reasons as described above.

13949579

0.0126

200000

This investment in the ordinary shares of QX Resources has been made for strategic purposes and specifically with an intention to gain access for conducting feasibility studies for the production of lithium products from the lithium brine surface anomaly identified over the 102 square-kilometer Liberty Lithium Brine Project in SaltFire Flat, California, USA (the “Project”) for which QX Resources has a binding Option to Purchase Agreement and Operating Agreement to earn a 75% interest of the Project from IG Lithium LLC (“the Earn-in venture”). The Company is not a direct party to the Earn-in venture and accordingly has no direct or indirect economic or controlling interest either in the Project or in any of the associated rights originating from the Earn-in venture held by QX Resources.

55884

218556

108014

162672

NOTE 5 - COMMON STOCK Each share of common stock is entitled to one vote. The holders of common stock are also entitled to receive dividends whenever funds are legally available and when declared by the board of directors (the “Board”), subject to prior rights of the convertible preferred stockholders. Common stock issued and outstanding on the unaudited condensed consolidated balance sheet and condensed consolidated statement of stockholders’ deficit includes shares related to restricted stock that are subject to repurchase. The Company is authorized to issue 15,000,000 shares, par value of $0.00001 per share, of common stock. At June 30, 2024, the Company had 9,017,300 shares of common stock issued and outstanding. During the three months ended June 30, 2024, the Board adopted a resolution to increase the number of shares of Common Stock authorized for issuance under the 2023 Equity Plan by <span id="xdx_904_eus-gaap--CommonStockSharesAuthorized_iI_c20240630__srt--TitleOfIndividualAxis__srt--BoardOfDirectorsChairmanMember__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeEquityPlanMember_z21EB3faivld" title="Common stock, shares authorized">250,000 shares of Common Stock. As at June 30, 2024, the Company reserved shares of its common stock for the potential future issuance of 15,000 shares under 2023 equity plan.

15000000

0.00001

9017300

250000

15000

NOTE 6 - SIMPLE AGREEMENT FOR FUTURE EQUITY (SAFE NOTES) On June 6, 2023, the Company received $<span id="xdx_90E_eus-gaap--Cash_iI_c20230606__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_z3zDVVMxhra1" title="Cash received additionally from single investor">2,000,000 in cash from a single investor and funded a SAFE note on August 15, 2023. The funds were received from an unrelated third party, through its entity which is currently being managed under the purview of an Investment Management Agreement between them and VIKASA Capital Advisors, LLC (a related party) in consideration for which VIKASA Capital Advisors, LLC is paid investment management fees. On November 20, 2023, the Company received an additional $<span id="xdx_90A_eus-gaap--Cash_iI_c20231120__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_z2hdViyesy14" title="Cash received additionally from single investor">2,000,000 in cash from a single investor, which, along with the $<span id="xdx_90D_eus-gaap--Deposits_iI_c20230930__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_zeLGlmluRxJ7" title="Deposit received">1,000,000 deposit received in September 2023, funded a new $<span id="xdx_909_eus-gaap--InvestmentsFairValueDisclosure_iI_c20231120__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_zLcE4L7Mhlc4" title="Cash received from single investor">3,000,000 SAFE note. On February 23, 2024, the Company entered into a third SAFE note and received an additional $<span id="xdx_90B_eus-gaap--Cash_iI_c20240223__us-gaap--FinancialInstrumentAxis__custom--ThirdSAFENoteMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember_zz2pMJC7VoSb" title="Cash received additionally from single investor">200,000 in cash from a single investor. Stardust Power Inc. and Subsidiary NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) The SAFE notes are classified as a liability based on evaluating characteristics of the instrument and is presented at fair value as a non-current liability in the Company’s unaudited condensed consolidated balance sheets. The SAFE notes provide the Company an option to call for additional preferred stock up to $<span id="xdx_90F_eus-gaap--PreferredStockValue_iI_c20231120__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember__us-gaap--OptionIndexedToIssuersEquityTypeAxis__us-gaap--CallOptionMember_zwsfo4P6vaS7" title="Cash received from single investor">25,000,000 based on the contingent event of SAFE notes conversion and notice issued by the Board, and achievement of certain milestones, for up to 42 months following such conversion. This feature was determined to be an embedded feature and is valued as part of the liability value associated with the instrument as a whole. The terms for SAFE notes were amended on November 18, 2023 for both the original and new issuance to introduce a discount rate of <span id="xdx_900_ecustom--OriginalAndNewIssuanceDiscountRatePercentage_pid_dp_uPure_c20231118__20231118__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zVb4bMfeeLBg" title="Discount rate percentage">20% to the lowest price per share of preferred stock sold or the listing price of the Company’s common stock upon consummation of a SPAC transaction or IPO. Additionally, the SAFE notes provide the investor certain rights upon an equity financing, change in control or dissolution. On March 21, 2024, the Company entered into a Financing Commitment and Equity Line of Credit Agreement with American Investor Group Direct LLC (“AIGD”). The agreement replaced the above contingent commitment feature of the SAFE notes, granting the Company an option to drawdown up to an additional $<span id="xdx_906_eus-gaap--StockOptionDownRoundFeatureIncreaseDecreaseInEquityAmount1_c20240321__20240321__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember__us-gaap--TypeOfArrangementAxis__custom--FinancingCommitmentAndEquityLineOfCreditAgreementMember__dei--LegalEntityAxis__custom--AmericanInvestorGroupDirectLLCMember_zRQGfklsn8f8">15,000,000 on terms similar to the SAFE notes prior to the first effective time. On April 24, 2024, the Company amended and restated the August 2023 SAFE note and the November 2023 SAFE note. On May 1, 2024, the Company amended and restated the February 2024 SAFE note. These amendments clarify the conversion mechanism in connection with the Business Combination. The estimated fair value of the SAFE notes considered the timing of issuance and whether there were changes in the various scenarios since issuance. As at June 30, 2024 and December 31, 2023, the fair value of the SAFE notes is $6,367,200 and $5,212,200, respectively, and is classified as a non-current liability. The SAFE notes had no interest rate or maturity date, description of dividend and participation rights. The liquidation preference of the SAFE notes is junior to other outstanding indebtedness and creditor claims, on par with payments for other SAFEs and/or preferred equity, and senior to payments for other equity of the Company that is not SAFEs and/or pari preferred equity.

2000000

1000000

3000000

200000

25000000

0.20

15000000

6367200

5212200

<p id="xdx_802_eus-gaap--DebtDisclosureTextBlock_hus-gaap--LongtermDebtTypeAxis__custom--ConvertibleNoteMember_zp6TpaUoCRae" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">NOTE 7 – CONVERTIBLE NOTES PROMISSORY NOTES On April 24, 2024, the Company entered into a convertible equity agreement (‘convertible notes’) for $2,000,000 with AIGD. Further, the Company entered into separate convertible equity agreements with other individuals for a total of $100,000 in April 2024, based on similar terms to the AIGD convertible equity agreement. In accordance with the terms of the convertible equity agreements, immediately prior to the first Effective time, the cash received pursuant to the convertible equity agreements will automatically convert into <span id="xdx_90C_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_c20240424__20240424__us-gaap--TypeOfArrangementAxis__custom--ConvertibleEquityAgreementsMember_zo5R9oRL5sPg" title="Convertible equity converted into shares">55,889 shares of Combined Company Common Stock. The convertible notes are classified as a liability based on evaluating characteristics of the instrument and is presented at fair value as a non-current liability in the Company’s unaudited condensed consolidated balance sheets. The estimated fair value of the convertible notes considered the timing of issuance and whether there were changes in the various scenarios since issuance. As at June 30, 2024 and December 31, 2023, the fair value of the convertible notes is $2,571,400 and $Nil, respectively, and is classified as a non-current liability. The convertible notes had no interest rate or maturity date, no description of dividend and no participation rights. The liquidation preference of the convertible notes is junior to other outstanding indebtedness and creditor claims, on par with payments for other SAFE notes and/or preferred equity, and senior to payments for other equity of the Company that is not convertible and/or pari preferred equity. Stardust Power Inc. and Subsidiary NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

2000000

100000

55889

2571400

NOTE 8 - FAIR VALUE MEASUREMENTS The following tables summarize the Company’s assets and liabilities that are measured at fair value in the unaudited condensed consolidated financial statements: <p id="xdx_890_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock_zLOphCejDNdc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">SCHEDULE OF ASSETS AND LIABILITIES ARE MEASURED AT FAIR VALUE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="font-weight: bold; text-transform: uppercase; text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_495_20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zzdAxeaJNhB8" style="font-weight: bold; text-align: center">Level 1</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49E_20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zss0Dq8qjwb2" style="font-weight: bold; text-align: center">Level 2</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49A_20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zOZzjYu3l2d6" style="font-weight: bold; text-align: center">Level 3</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_496_20231231_z0o6D0mvyxrg" style="font-weight: bold; text-align: center">Total</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-transform: uppercase; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value Measurements as at December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-transform: uppercase; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other noncurrent assets:</td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--InvestmentsFairValueDisclosure_iI_maAFVDzvub_zU7h0aLkSK9i" style="vertical-align: bottom; background-color: White"> <td style="width: 40%; text-align: left; padding-bottom: 1pt">Investment in equity securities (a)</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">218,556</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">218,556</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AssetsFairValueDisclosure_iTI_mtAFVDzvub_zNdIWHLxUSEi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total financial assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">218,556</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">218,556</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="font-weight: bold; text-transform: uppercase; text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49F_20240630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zXq2Y7aoSR7i" style="font-weight: bold; text-align: center">Level 1</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49D_20240630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zlwEIiJSAfkk" style="font-weight: bold; text-align: center">Level 2</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_490_20240630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zf9AdRnQ64g" style="font-weight: bold; text-align: center">Level 3</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_494_20240630_zh2IScoUQA82" style="font-weight: bold; text-align: center">Total</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-transform: uppercase; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value Measurements as at June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-transform: uppercase; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other noncurrent assets:</td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--InvestmentsFairValueDisclosure_iI_maAFVDzzA1_zxbqYyTAWMl5" style="vertical-align: bottom; background-color: White"> <td style="width: 40%; text-align: left; padding-bottom: 1pt">Investment in equity securities (a)</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">55,884</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">55,884</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AssetsFairValueDisclosure_iTI_mtAFVDzzA1_zBScKxlPN2yg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total financial assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">55,884</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">55,884</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="font-weight: bold; text-transform: uppercase; text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49D_20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zXjp9g4YbPI6" style="font-weight: bold; text-align: center">Level 1</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_490_20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zAarIpDmLrB1" style="font-weight: bold; text-align: center">Level 2</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_492_20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zkMekfTaT2Pf" style="font-weight: bold; text-align: center">Level 3</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_496_20231231_zdgnRYNU5963" style="font-weight: bold; text-align: center">Total</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-transform: uppercase; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value Measurements as at December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-transform: uppercase; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Liabilities</td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LiabilitiesRelatedToInvestmentContractsFairValueDisclosure_iI_maFLFVDzrzB_z5jfVjtOJPz5" style="vertical-align: bottom; background-color: White"> <td style="width: 40%; text-align: left">SAFE notes (b)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">5,212,200</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">5,212,200</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_zDm6StbE0sC7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Convertible notes (c)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--FinancialLiabilitiesFairValueDisclosure_iTI_mtFLFVDzrzB_zCX6ME36js3f" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total financial liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,212,200</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,212,200</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="font-weight: bold; text-transform: uppercase; text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49C_20240630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zgYTkZGCxPzb" style="font-weight: bold; text-align: center">Level 1</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49D_20240630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zaUDxewvYpX1" style="font-weight: bold; text-align: center">Level 2</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49F_20240630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zNZWPR6lm2ga" style="font-weight: bold; text-align: center">Level 3</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_496_20240630_zfuxDsDJ94Me" style="font-weight: bold; text-align: center">Total</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-transform: uppercase; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value Measurements as at June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-transform: uppercase; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Liabilities</td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LiabilitiesRelatedToInvestmentContractsFairValueDisclosure_iI_maFLFVDzrzB_zOb4XM79IV71" style="vertical-align: bottom; background-color: White"> <td style="width: 40%; text-align: left">SAFE notes (b)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">6,367,200</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">6,367,200</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_zZ810HgzYb9k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Convertible notes (c)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,571,400</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,571,400</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--FinancialLiabilitiesFairValueDisclosure_iTI_mtFLFVDzrzB_z0sEbiNlgUpe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total financial liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8,938,600</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8,938,600</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in; text-align: left">(a)</td><td style="text-align: justify">These represent equity investments with a readily determinable fair value. The Company has measured its investments to fair value in accordance with ASC 321, Investments-Equity Securities, based on quoted prices in active markets.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in; text-align: left">(b)</td><td style="text-align: justify">The valuation of the Level 3 measurement considered the probabilities of the occurrence of the scenarios as discussed in Note 2 the audited consolidated financial statements and notes thereto for the period March 16, 2023 (inception) to December 31, 2023 included in the Company’s registration statement on Form S-4/A filed with the SEC on May 8, 2024.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in; text-align: left">(c)</td><td style="text-align: justify">The fair value of convertible notes are expected to approximate fair value of the equivalent equity shares into which they would be converted immediately post the closing of the Business Combination, which was approved at the shareholders meeting on June 27, 2024.</td> </tr></table> Stardust Power Inc. and Subsidiary NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) <p id="xdx_89B_eus-gaap--FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_zfj29TXA5iae" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The following table provides a reconciliation of activity and changes in fair value for the Company’s SAFE and convertible notes using inputs classified as: SCHEDULE OF RECONCILIATION OF ACTIVITY AND CHANGES IN FAIR VALUE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">SAFE notes at Fair Value</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Convertible notes at Fair Value</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance as at March 16, 2023 (inception)</td> <td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_c20230316__20230630__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember_zQCy1OVRp8x2" style="text-align: right" title="Balance as at March 16, 2023 (inception) and March 31, 2023">-</td><td style="text-align: left"> </td> <td> </td> <td style="font-weight: bold; text-align: left">$</td><td id="xdx_986_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_c20230316__20230630__us-gaap--FinancialInstrumentAxis__custom--ConvertibleNoteMember_z9FGj696APpb" style="font-weight: bold; text-align: right" title="Balance as at March 16, 2023 (inception) and March 31, 2023">-</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 60%">Issuance of notes</td> <td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues_c20230316__20230630__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember_zZBlr5Wnqu1j" style="width: 16%; text-align: right" title="Issuance of SAFE notes">2,000,000</td><td style="width: 1%; text-align: left"> </td> <td style="width: 2%"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td id="xdx_986_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues_c20230316__20230630__us-gaap--FinancialInstrumentAxis__custom--ConvertibleNoteMember_zjD1nFLWRUKc" style="width: 16%; font-weight: bold; text-align: right" title="Issuance of SAFE notes">-</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value</td> <td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease_c20230316__20230630__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember_zfXbbJcqoli2" style="border-bottom: Black 1pt solid; text-align: right" title="Change in fair value">-</td><td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_98F_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease_c20230316__20230630__us-gaap--FinancialInstrumentAxis__custom--ConvertibleNoteMember_zL8jwA7cIzi4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right" title="Change in fair value">-</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Balance as at June 30, 2023</td> <td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_c20230701__20231231__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember_zcEv7D9id4e6" style="text-align: right" title="Balance as at March 16, 2023 (inception) and March 31, 2023">2,000,000</td><td style="text-align: left"> </td> <td> </td> <td style="font-weight: bold; text-align: left">$</td><td id="xdx_981_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_c20230701__20231231__us-gaap--FinancialInstrumentAxis__custom--ConvertibleNoteMember_z2WdmfE1Tonl" style="font-weight: bold; text-align: right" title="Balance as at March 16, 2023 (inception) and March 31, 2023">-</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Issuance of notes</td> <td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues_c20230701__20231231__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember_zjJkO9rZd741" style="text-align: right" title="Issuance of SAFE notes">3,000,000</td><td style="text-align: left"> </td> <td> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_981_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues_c20230701__20231231__us-gaap--FinancialInstrumentAxis__custom--ConvertibleNoteMember_zs0rdZCZkSpj" style="font-weight: bold; text-align: right" title="Issuance of SAFE notes">-</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value</td> <td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease_c20230701__20231231__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember_zG76Euqh4nv9" style="border-bottom: Black 1pt solid; text-align: right" title="Change in fair value">212,200</td><td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_986_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease_c20230701__20231231__us-gaap--FinancialInstrumentAxis__custom--ConvertibleNoteMember_zU9ImvNrPmyf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right" title="Change in fair value">-</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance as at December 31, 2023</td> <td> </td> <td style="text-align: left">$</td><td id="xdx_98E_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_c20240101__20240331__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember_zrT1KIjglGP" style="text-align: right" title="Balance as at March 16, 2023 (inception) and March 31, 2023">5,212,200</td><td style="text-align: left"> </td> <td> </td> <td style="font-weight: bold; text-align: left">$</td><td id="xdx_986_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_c20240101__20240331__us-gaap--FinancialInstrumentAxis__custom--ConvertibleNoteMember_zDWgCcNzZO8c" style="font-weight: bold; text-align: right" title="Balance as at March 16, 2023 (inception) and March 31, 2023">-</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Issuance of notes</td> <td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues_c20240101__20240331__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember_zJSnFhpNCXNk" style="text-align: right" title="Issuance of SAFE notes">200,000</td><td style="text-align: left"> </td> <td> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_98F_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues_c20240101__20240331__us-gaap--FinancialInstrumentAxis__custom--ConvertibleNoteMember_zqdRloKVA3Bd" style="font-weight: bold; text-align: right" title="Issuance of SAFE notes">-</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value</td> <td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease_c20240101__20240331__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember_z64eQ4dhFtF1" style="border-bottom: Black 1pt solid; text-align: right" title="Change in fair value">107,900</td><td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_983_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease_c20240101__20240331__us-gaap--FinancialInstrumentAxis__custom--ConvertibleNoteMember_zSRNPuRS0cW7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right" title="Change in fair value">-</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Balance as at March 31, 2024</td> <td> </td> <td style="text-align: left">$</td><td id="xdx_987_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_c20240401__20240630__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember_zLlKDeV4Kma9" style="text-align: right" title="Beginning balance">5,520,100</td><td style="text-align: left"> </td> <td> </td> <td style="font-weight: bold; text-align: left">$</td><td id="xdx_982_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_c20240401__20240630__us-gaap--FinancialInstrumentAxis__custom--ConvertibleNoteMember_zqouK3XOJsSj" style="font-weight: bold; text-align: right" title="Beginning balance">-</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Issuance of notes</td> <td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues_c20240401__20240630__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember_zTdqT8ntr9Uf" style="text-align: right" title="Issuance of SAFE notes">-</td><td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues_c20240401__20240630__us-gaap--FinancialInstrumentAxis__custom--ConvertibleNoteMember_zaxsuqX3NAb8" style="text-align: right" title="Issuance of SAFE notes">2,100,000</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value</td> <td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><p id="xdx_98C_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease_c20240401__20240630__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember_zzJPLHpEo2Di" style="font: 10pt Times New Roman, Times, Serif; margin: 0" title="Change in fair value">847,100</td><td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><p id="xdx_987_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease_c20240401__20240630__us-gaap--FinancialInstrumentAxis__custom--ConvertibleNoteMember_zgzxAwkKOSgf" style="font: 10pt Times New Roman, Times, Serif; margin: 0" title="Change in fair value">471,400</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Balance as at June 30, 2024</td> <td> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98D_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_c20240401__20240630__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember_zIaaA8kpbExd" style="border-bottom: Black 1pt solid; text-align: right" title="Ending balance">6,367,200</td><td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98A_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_c20240401__20240630__us-gaap--FinancialInstrumentAxis__custom--ConvertibleNoteMember_zPoDtlZybd79" style="border-bottom: Black 1pt solid; text-align: right" title="Ending balance">2,571,400</td> <td> </td></tr> </table> The valuation of the Level 3 measurement for SAFE notes considered the probabilities of the occurrence of the scenarios as discussed in Note 2 of the audited consolidated financial statements and notes thereto for the period March 16, 2023 (inception) to December 31, 2023 included in the Company’s registration statement on Form S-4/A filed with the SEC on May 8, 2024. The Company valued the SAFE notes based on the occurrence of the preferred financing or a SPAC transaction. As of the date of initial measurement and as of June 30, 2024 and December 31, 2023, the management has assigned zero probability for a change in control event or a dissolution event. The fair value of the SAFE notes was estimated based upon the expected conversion of the SAFE notes at the proposed business combination event with a <span id="xdx_907_eus-gaap--AlternativeInvestmentMeasurementInput_iI_pid_uPure_c20240630__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember__us-gaap--MeasurementInputTypeAxis__custom--MeasurementInputYieldRateMember_z9c6jykWRyh6" title="Alternative investment, measurement input">100% probability as at June 30, 2024. The SAFE and convertible notes are expected to be converted into preferred stock or common stock at a discount rate of <span id="xdx_90F_eus-gaap--AlternativeInvestmentMeasurementInput_iI_pid_uPure_c20240630__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountRateMember_z6hfxf2e4VJb" title="Alternative investment, measurement input"><span id="xdx_900_eus-gaap--AlternativeInvestmentMeasurementInput_iI_pid_uPure_c20240630__us-gaap--FinancialInstrumentAxis__custom--ConvertibleNoteMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountRateMember_zzLCCnPkZm7g" title="Alternative investment, measurement input">20% on the issue price. The fair value of SAFE notes and the convertible notes as at June 30, 2024 are expected to approximate fair value of the equivalent equity shares into which they would be converted immediately post the closing of the Business Combination, which was approved at the shareholders meeting on June 27, 2024, and is therefore considered reasonable.

<p id="xdx_890_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock_zLOphCejDNdc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">SCHEDULE OF ASSETS AND LIABILITIES ARE MEASURED AT FAIR VALUE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="font-weight: bold; text-transform: uppercase; text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_495_20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zzdAxeaJNhB8" style="font-weight: bold; text-align: center">Level 1</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49E_20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zss0Dq8qjwb2" style="font-weight: bold; text-align: center">Level 2</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49A_20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zOZzjYu3l2d6" style="font-weight: bold; text-align: center">Level 3</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_496_20231231_z0o6D0mvyxrg" style="font-weight: bold; text-align: center">Total</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-transform: uppercase; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value Measurements as at December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-transform: uppercase; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other noncurrent assets:</td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--InvestmentsFairValueDisclosure_iI_maAFVDzvub_zU7h0aLkSK9i" style="vertical-align: bottom; background-color: White"> <td style="width: 40%; text-align: left; padding-bottom: 1pt">Investment in equity securities (a)</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">218,556</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">218,556</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AssetsFairValueDisclosure_iTI_mtAFVDzvub_zNdIWHLxUSEi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total financial assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">218,556</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">218,556</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="font-weight: bold; text-transform: uppercase; text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49F_20240630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zXq2Y7aoSR7i" style="font-weight: bold; text-align: center">Level 1</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49D_20240630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zlwEIiJSAfkk" style="font-weight: bold; text-align: center">Level 2</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_490_20240630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zf9AdRnQ64g" style="font-weight: bold; text-align: center">Level 3</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_494_20240630_zh2IScoUQA82" style="font-weight: bold; text-align: center">Total</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-transform: uppercase; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value Measurements as at June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-transform: uppercase; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other noncurrent assets:</td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--InvestmentsFairValueDisclosure_iI_maAFVDzzA1_zxbqYyTAWMl5" style="vertical-align: bottom; background-color: White"> <td style="width: 40%; text-align: left; padding-bottom: 1pt">Investment in equity securities (a)</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">55,884</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">55,884</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AssetsFairValueDisclosure_iTI_mtAFVDzzA1_zBScKxlPN2yg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total financial assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">55,884</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">55,884</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="font-weight: bold; text-transform: uppercase; text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49D_20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zXjp9g4YbPI6" style="font-weight: bold; text-align: center">Level 1</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_490_20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zAarIpDmLrB1" style="font-weight: bold; text-align: center">Level 2</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_492_20231231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zkMekfTaT2Pf" style="font-weight: bold; text-align: center">Level 3</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_496_20231231_zdgnRYNU5963" style="font-weight: bold; text-align: center">Total</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-transform: uppercase; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value Measurements as at December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-transform: uppercase; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Liabilities</td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LiabilitiesRelatedToInvestmentContractsFairValueDisclosure_iI_maFLFVDzrzB_z5jfVjtOJPz5" style="vertical-align: bottom; background-color: White"> <td style="width: 40%; text-align: left">SAFE notes (b)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">5,212,200</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">5,212,200</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_zDm6StbE0sC7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Convertible notes (c)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--FinancialLiabilitiesFairValueDisclosure_iTI_mtFLFVDzrzB_zCX6ME36js3f" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total financial liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,212,200</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,212,200</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="font-weight: bold; text-transform: uppercase; text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49C_20240630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zgYTkZGCxPzb" style="font-weight: bold; text-align: center">Level 1</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49D_20240630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zaUDxewvYpX1" style="font-weight: bold; text-align: center">Level 2</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49F_20240630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zNZWPR6lm2ga" style="font-weight: bold; text-align: center">Level 3</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_496_20240630_zfuxDsDJ94Me" style="font-weight: bold; text-align: center">Total</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-transform: uppercase; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value Measurements as at June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-transform: uppercase; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Liabilities</td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase"> </td> <td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: right"> </td><td style="font-weight: bold; text-transform: uppercase; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LiabilitiesRelatedToInvestmentContractsFairValueDisclosure_iI_maFLFVDzrzB_zOb4XM79IV71" style="vertical-align: bottom; background-color: White"> <td style="width: 40%; text-align: left">SAFE notes (b)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">6,367,200</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">6,367,200</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--ConvertibleDebtFairValueDisclosures_iI_zZ810HgzYb9k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Convertible notes (c)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,571,400</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,571,400</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--FinancialLiabilitiesFairValueDisclosure_iTI_mtFLFVDzrzB_z0sEbiNlgUpe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total financial liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8,938,600</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8,938,600</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in; text-align: left">(a)</td><td style="text-align: justify">These represent equity investments with a readily determinable fair value. The Company has measured its investments to fair value in accordance with ASC 321, Investments-Equity Securities, based on quoted prices in active markets.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in; text-align: left">(b)</td><td style="text-align: justify">The valuation of the Level 3 measurement considered the probabilities of the occurrence of the scenarios as discussed in Note 2 the audited consolidated financial statements and notes thereto for the period March 16, 2023 (inception) to December 31, 2023 included in the Company’s registration statement on Form S-4/A filed with the SEC on May 8, 2024.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in; text-align: left">(c)</td><td style="text-align: justify">The fair value of convertible notes are expected to approximate fair value of the equivalent equity shares into which they would be converted immediately post the closing of the Business Combination, which was approved at the shareholders meeting on June 27, 2024.</td> </tr></table>

218556

55884

5212200

6367200

2571400

8938600

<p id="xdx_89B_eus-gaap--FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_zfj29TXA5iae" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The following table provides a reconciliation of activity and changes in fair value for the Company’s SAFE and convertible notes using inputs classified as: SCHEDULE OF RECONCILIATION OF ACTIVITY AND CHANGES IN FAIR VALUE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">SAFE notes at Fair Value</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Convertible notes at Fair Value</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance as at March 16, 2023 (inception)</td> <td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_c20230316__20230630__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember_zQCy1OVRp8x2" style="text-align: right" title="Balance as at March 16, 2023 (inception) and March 31, 2023">-</td><td style="text-align: left"> </td> <td> </td> <td style="font-weight: bold; text-align: left">$</td><td id="xdx_986_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_c20230316__20230630__us-gaap--FinancialInstrumentAxis__custom--ConvertibleNoteMember_z9FGj696APpb" style="font-weight: bold; text-align: right" title="Balance as at March 16, 2023 (inception) and March 31, 2023">-</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 60%">Issuance of notes</td> <td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues_c20230316__20230630__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember_zZBlr5Wnqu1j" style="width: 16%; text-align: right" title="Issuance of SAFE notes">2,000,000</td><td style="width: 1%; text-align: left"> </td> <td style="width: 2%"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td id="xdx_986_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues_c20230316__20230630__us-gaap--FinancialInstrumentAxis__custom--ConvertibleNoteMember_zjD1nFLWRUKc" style="width: 16%; font-weight: bold; text-align: right" title="Issuance of SAFE notes">-</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value</td> <td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease_c20230316__20230630__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember_zfXbbJcqoli2" style="border-bottom: Black 1pt solid; text-align: right" title="Change in fair value">-</td><td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_98F_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease_c20230316__20230630__us-gaap--FinancialInstrumentAxis__custom--ConvertibleNoteMember_zL8jwA7cIzi4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right" title="Change in fair value">-</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Balance as at June 30, 2023</td> <td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_c20230701__20231231__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember_zcEv7D9id4e6" style="text-align: right" title="Balance as at March 16, 2023 (inception) and March 31, 2023">2,000,000</td><td style="text-align: left"> </td> <td> </td> <td style="font-weight: bold; text-align: left">$</td><td id="xdx_981_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_c20230701__20231231__us-gaap--FinancialInstrumentAxis__custom--ConvertibleNoteMember_z2WdmfE1Tonl" style="font-weight: bold; text-align: right" title="Balance as at March 16, 2023 (inception) and March 31, 2023">-</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Issuance of notes</td> <td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues_c20230701__20231231__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember_zjJkO9rZd741" style="text-align: right" title="Issuance of SAFE notes">3,000,000</td><td style="text-align: left"> </td> <td> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_981_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues_c20230701__20231231__us-gaap--FinancialInstrumentAxis__custom--ConvertibleNoteMember_zs0rdZCZkSpj" style="font-weight: bold; text-align: right" title="Issuance of SAFE notes">-</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value</td> <td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease_c20230701__20231231__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember_zG76Euqh4nv9" style="border-bottom: Black 1pt solid; text-align: right" title="Change in fair value">212,200</td><td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_986_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease_c20230701__20231231__us-gaap--FinancialInstrumentAxis__custom--ConvertibleNoteMember_zU9ImvNrPmyf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right" title="Change in fair value">-</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance as at December 31, 2023</td> <td> </td> <td style="text-align: left">$</td><td id="xdx_98E_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_c20240101__20240331__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember_zrT1KIjglGP" style="text-align: right" title="Balance as at March 16, 2023 (inception) and March 31, 2023">5,212,200</td><td style="text-align: left"> </td> <td> </td> <td style="font-weight: bold; text-align: left">$</td><td id="xdx_986_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_c20240101__20240331__us-gaap--FinancialInstrumentAxis__custom--ConvertibleNoteMember_zDWgCcNzZO8c" style="font-weight: bold; text-align: right" title="Balance as at March 16, 2023 (inception) and March 31, 2023">-</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Issuance of notes</td> <td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues_c20240101__20240331__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember_zJSnFhpNCXNk" style="text-align: right" title="Issuance of SAFE notes">200,000</td><td style="text-align: left"> </td> <td> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_98F_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues_c20240101__20240331__us-gaap--FinancialInstrumentAxis__custom--ConvertibleNoteMember_zqdRloKVA3Bd" style="font-weight: bold; text-align: right" title="Issuance of SAFE notes">-</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value</td> <td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease_c20240101__20240331__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember_z64eQ4dhFtF1" style="border-bottom: Black 1pt solid; text-align: right" title="Change in fair value">107,900</td><td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_983_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease_c20240101__20240331__us-gaap--FinancialInstrumentAxis__custom--ConvertibleNoteMember_zSRNPuRS0cW7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right" title="Change in fair value">-</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Balance as at March 31, 2024</td> <td> </td> <td style="text-align: left">$</td><td id="xdx_987_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_c20240401__20240630__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember_zLlKDeV4Kma9" style="text-align: right" title="Beginning balance">5,520,100</td><td style="text-align: left"> </td> <td> </td> <td style="font-weight: bold; text-align: left">$</td><td id="xdx_982_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_c20240401__20240630__us-gaap--FinancialInstrumentAxis__custom--ConvertibleNoteMember_zqouK3XOJsSj" style="font-weight: bold; text-align: right" title="Beginning balance">-</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Issuance of notes</td> <td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues_c20240401__20240630__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember_zTdqT8ntr9Uf" style="text-align: right" title="Issuance of SAFE notes">-</td><td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues_c20240401__20240630__us-gaap--FinancialInstrumentAxis__custom--ConvertibleNoteMember_zaxsuqX3NAb8" style="text-align: right" title="Issuance of SAFE notes">2,100,000</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value</td> <td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><p id="xdx_98C_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease_c20240401__20240630__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember_zzJPLHpEo2Di" style="font: 10pt Times New Roman, Times, Serif; margin: 0" title="Change in fair value">847,100</td><td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><p id="xdx_987_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease_c20240401__20240630__us-gaap--FinancialInstrumentAxis__custom--ConvertibleNoteMember_zgzxAwkKOSgf" style="font: 10pt Times New Roman, Times, Serif; margin: 0" title="Change in fair value">471,400</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Balance as at June 30, 2024</td> <td> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98D_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_c20240401__20240630__us-gaap--FinancialInstrumentAxis__custom--SAFENoteMember_zIaaA8kpbExd" style="border-bottom: Black 1pt solid; text-align: right" title="Ending balance">6,367,200</td><td style="padding-bottom: 1pt; text-align: left"> </td> <td> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98A_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_c20240401__20240630__us-gaap--FinancialInstrumentAxis__custom--ConvertibleNoteMember_zPoDtlZybd79" style="border-bottom: Black 1pt solid; text-align: right" title="Ending balance">2,571,400</td> <td> </td></tr> </table>

2000000

3000000

212200

5212200

200000

107900

5520100

2100000

847100

471400

6367200

2571400

100

NOTE 9 – PROMISSORY NOTES In March 2023, the Company entered into unsecured notes payable with three related parties as described in Note 11. These notes payable provided the Company the ability to draw up to $<span id="xdx_902_eus-gaap--NotesPayable_iI_c20230331__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember__us-gaap--DebtInstrumentAxis__custom--UnsecuredNotesPayableMember_zR3xvei3nzYi" title="Notes payable">1,000,000, in aggregate: $<span id="xdx_907_eus-gaap--NotesPayable_iI_c20230331__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--VikasaCleanEnergyILPMember__us-gaap--DebtInstrumentAxis__custom--UnsecuredNotesPayableMember_zP84KXxV8R2h" title="Notes payable">160,000 until December 31, 2023 and $<span id="xdx_909_eus-gaap--NotesPayable_iI_c20230331__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EnergyTransitionInvestorsLLCAndRoshanPujariMember__us-gaap--DebtInstrumentAxis__custom--UnsecuredNotesPayableMember_zZugICzVFeh9" title="Notes payable">840,000 until December 31, 2025. These loan facilities accrue interest, compounding semi-annually, at the long-term semiannual Applicable Federal Rate, as established by the Internal Revenue Service, which effectively was <span id="xdx_908_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_dp_c20230331__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember__us-gaap--DebtInstrumentAxis__custom--UnsecuredNotesPayableMember_z4ruq9zTyyvd" title="Debt instrument, interest rate">3.71%. As at June 30, 2024, the Company had $<span id="xdx_90A_eus-gaap--NotesPayable_iI_c20240630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember__us-gaap--DebtInstrumentAxis__custom--UnsecuredNotesPayableMember_zNBBUyU4Se7k" title="Notes payable">840,000 available to draw.

1000000

160000

840000

0.0371

840000

NOTE 10 - SEGMENT REPORTING The Company reports segment information in the same way management internally organizes the business in assessing performance and making decisions regarding allocation of resources in accordance with ASC 280, “Segment Reporting”. The Company has a single reportable operating segment which operates as a single business platform. In reaching this conclusion, management considered the definition of the Chief Operating Decision Maker (“CODM”), how the business is defined by the CODM, the nature of the information provided to the CODM, how the CODM uses such information to make operating decisions, and how resources and performance are assessed. The Company has a single, common management team and our cash flows are reported and reviewed with no distinct cash flows.

NOTE 11 - RELATED PARTY TRANSACTIONS The Company entered into a service agreement with VIKASA Capital Partners LLC (“VCP”) on March 16, 2023, for services associated with setting up a lithium refinery. VCP provides formation and organization structure advisory, capital market advisory, marketing advisory services and other consulting and advisory services with respect to the Company’s organization. Under the service agreement and subsequent amendments, VCP can be compensated for advisory services up to total of $1,050,000, of which $980,000 has been incurred till June 30, 2023. Stardust Power Inc. and Subsidiary NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) On March 16, 2023, the Company entered into a consulting agreement with 7636 Holdings LLC, which was subsequently amended on April 1, 2023, and also separately entered into an agreement with VIKASA Capital LLC. The agreement primarily provides compensation for strategic, business, financial, operations and industry advisory services to the Company’s planned development of a lithium refinery operation. The Company incurred the following expenses with related parties, which were all affiliates of the Company: SCHEDULE OF EXPENSES WITH RELATED PARTIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20240401__20240630_zC8fiQPCVVS9" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20230401__20230630_zCdHZN1O1lfb" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20240101__20240630_zeWEdIZaTL1i" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20230316__20230630_zcyZndxNhtfi" style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three months ended</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="padding-bottom: 1pt; font-weight: bold; text-align: center"></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six Months Ended June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Period from March 16, 2023 (inception) through June 30, 2023</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Consulting expenses under contract due to:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--ConsultingExpenses_hus-gaap--RelatedPartyTransactionAxis__custom--VikasaCapitalPartnersLLCMember_zkFTRnKIWTHl" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 36%; text-align: left">VIKASA Capital Partners LLC</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"> -</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">895,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"> -</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">980,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--ConsultingExpenses_hus-gaap--RelatedPartyTransactionAxis__custom--SevenSixThreeSixHoldingsLLCMember_zVKIeNIq6Sbg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">7636 Holdings LLC</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">90,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">- </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">101,806</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--ConsultingExpenses_hus-gaap--RelatedPartyTransactionAxis__custom--VIKASACapitalLLCMember_zCE9aL965ITa" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">VIKASA Capital LLC</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">67,281</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">77,632</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_ecustom--ConsultingExpenses_maCAOEzp6X_zDPhxm3Vq0bb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">Total consulting expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,052,281</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,159,438</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other expenses paid on the Company’s behalf due to:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OtherExpenses_hus-gaap--RelatedPartyTransactionAxis__custom--VikasaCapitalLLCMember_z6H63Pdxl809" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">VIKASA Capital LLC</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,818</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">34,318</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OtherExpenses_hus-gaap--RelatedPartyTransactionAxis__custom--VikasaCapitalPartnersLLCMember_zbj2rNv76xRb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">VIKASA Capital Partners LLC</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,588</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">9,868</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--OtherExpenses_maCAOEzp6X_zFFGeDsu8Pji" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">Total other expenses paid on the Company’s behalf</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">22,406</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">44,186</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--ConsultingAndOtherExpense_iT_mtCAOEzp6X_zGV6QFiyEY34" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 30pt; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,074,687</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,203,624</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> As of June 30, 2023, $956,505 expenses were paid and, $247,119 was due to related parties. During the period from March 16, 2023 (inception) through June 30, 2023, the Company provided shares to shareholders in exchange for a subscription of $90. The Company received the $90 on June 14, 2023. As at June 30, 2024 and December 31, 2023, no amounts were due to related parties of the Company. The Company entered into notes payable agreement of $1,000,000 with the following related parties, which were all affiliates of the Company: SCHEDULE OF RELATED PARTIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" id="xdx_49D_20240401__20240630_znkhyzyz9Y9l" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" id="xdx_49A_20230401__20230630_z8HNE0ZEdVqf" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" id="xdx_493_20240101__20240630_zon7KG0LPaA3" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" id="xdx_492_20230316__20230630_zvc5qOKSNd4h" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Three months ended </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">June 30, 2024</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">June 30, 2023</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Six Months Ended June 30, 2024 </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Period from March 16, 2023 (inception) through June 30, 2023</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_401_eus-gaap--RepaymentOfNotesReceivableFromRelatedParties_hus-gaap--RelatedPartyTransactionAxis__custom--EnergyTransitionInvestorsLLCMember_z8FzG6M19hW7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 36%; text-align: left">Energy Transition Investors LLC</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"> -</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">750,000</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--RepaymentOfNotesReceivableFromRelatedParties_hus-gaap--RelatedPartyTransactionAxis__custom--VikasaCleanEnergyILPMember_z0WjBGz7OMn1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Vikasa Clean Energy I LP</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">- </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">160,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--RepaymentOfNotesReceivableFromRelatedParties_hus-gaap--RelatedPartyTransactionAxis__custom--RoshanPujariMember_z82hOu3tMcxh" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Roshan Pujari</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> -</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">90,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--RepaymentOfNotesReceivableFromRelatedParties_zQvX9uO3xDG5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left">Notes obtained from related parties</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,000,000</td><td style="font-size: 10pt; text-align: left"> </td></tr> </table> VIKASA Capital LLC facilitated the initial funding of the notes obtained on behalf of the related parties. As of June 30, 2023, $7,111 of interest on these notes was due to related parties. As at June 30, 2024 and December 31, 2023, the Company had repaid all the above notes.

1050000

980000

The Company incurred the following expenses with related parties, which were all affiliates of the Company: SCHEDULE OF EXPENSES WITH RELATED PARTIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20240401__20240630_zC8fiQPCVVS9" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20230401__20230630_zCdHZN1O1lfb" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20240101__20240630_zeWEdIZaTL1i" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20230316__20230630_zcyZndxNhtfi" style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three months ended</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="padding-bottom: 1pt; font-weight: bold; text-align: center"></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six Months Ended June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Period from March 16, 2023 (inception) through June 30, 2023</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Consulting expenses under contract due to:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--ConsultingExpenses_hus-gaap--RelatedPartyTransactionAxis__custom--VikasaCapitalPartnersLLCMember_zkFTRnKIWTHl" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 36%; text-align: left">VIKASA Capital Partners LLC</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"> -</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">895,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"> -</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">980,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--ConsultingExpenses_hus-gaap--RelatedPartyTransactionAxis__custom--SevenSixThreeSixHoldingsLLCMember_zVKIeNIq6Sbg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">7636 Holdings LLC</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">90,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">- </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">101,806</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--ConsultingExpenses_hus-gaap--RelatedPartyTransactionAxis__custom--VIKASACapitalLLCMember_zCE9aL965ITa" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">VIKASA Capital LLC</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">67,281</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">77,632</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_ecustom--ConsultingExpenses_maCAOEzp6X_zDPhxm3Vq0bb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">Total consulting expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,052,281</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,159,438</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other expenses paid on the Company’s behalf due to:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OtherExpenses_hus-gaap--RelatedPartyTransactionAxis__custom--VikasaCapitalLLCMember_z6H63Pdxl809" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">VIKASA Capital LLC</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,818</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">34,318</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OtherExpenses_hus-gaap--RelatedPartyTransactionAxis__custom--VikasaCapitalPartnersLLCMember_zbj2rNv76xRb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">VIKASA Capital Partners LLC</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,588</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">9,868</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--OtherExpenses_maCAOEzp6X_zFFGeDsu8Pji" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">Total other expenses paid on the Company’s behalf</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">22,406</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">44,186</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--ConsultingAndOtherExpense_iT_mtCAOEzp6X_zGV6QFiyEY34" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 30pt; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,074,687</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,203,624</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

895000 980000 90000 101806 67281 77632 1052281 1159438

13818

34318

8588

9868

22406

44186

1074687 1203624

956505

247119

90 90

1000000

SCHEDULE OF RELATED PARTIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" id="xdx_49D_20240401__20240630_znkhyzyz9Y9l" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" id="xdx_49A_20230401__20230630_z8HNE0ZEdVqf" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" id="xdx_493_20240101__20240630_zon7KG0LPaA3" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" id="xdx_492_20230316__20230630_zvc5qOKSNd4h" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Three months ended </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">June 30, 2024</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">June 30, 2023</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Six Months Ended June 30, 2024 </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Period from March 16, 2023 (inception) through June 30, 2023</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_401_eus-gaap--RepaymentOfNotesReceivableFromRelatedParties_hus-gaap--RelatedPartyTransactionAxis__custom--EnergyTransitionInvestorsLLCMember_z8FzG6M19hW7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 36%; text-align: left">Energy Transition Investors LLC</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"> -</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">750,000</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--RepaymentOfNotesReceivableFromRelatedParties_hus-gaap--RelatedPartyTransactionAxis__custom--VikasaCleanEnergyILPMember_z0WjBGz7OMn1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Vikasa Clean Energy I LP</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">- </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">160,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--RepaymentOfNotesReceivableFromRelatedParties_hus-gaap--RelatedPartyTransactionAxis__custom--RoshanPujariMember_z82hOu3tMcxh" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Roshan Pujari</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> -</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">90,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--RepaymentOfNotesReceivableFromRelatedParties_zQvX9uO3xDG5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left">Notes obtained from related parties</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,000,000</td><td style="font-size: 10pt; text-align: left"> </td></tr> </table>

750000

160000

90000

1000000

7111

NOTE 12 - SUBSEQUENT EVENTS On August 4, 2024, the Company entered into an engineering agreement (the “Primero Agreement”) with Primero USA, Inc. (“Primero”) pursuant to which Primero agreed to provide certain engineering, design and consultancy professional services (the “Services”), including to assist in procurement of major equipment, engage relevant third parties for construction and provide a Front End Loading-3 (“FEL-3”) report of the Company’s Muskogee Lithium facility at Southside Industrial Park, Muskogee, Oklahoma in Port Muskogee. The total amount due pursuant to the Primero Agreement, assuming full performance, is approximately <span id="xdx_90F_ecustom--AmountOfCustomaryPotentialAdjustmentsOfPerformance_iI_pn5n6_c20240804__us-gaap--TypeOfArrangementAxis__custom--PrimeroAgreementMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--PrimeroUSAIncMember_zUbpDz6aWck3" title="Amount of customary potential adjustments of performance">$4.7 million, in the aggregate, subject to customary potential adjustments. The Company has evaluated subsequent events through the date the consolidated financial statements were available to be issued and there are no other items that would have had a material impact on the Company’s condensed consolidated financial statements.

4700000 These represent equity investments with a readily determinable fair value. The Company has measured its investments to fair value in accordance with ASC 321, Investments-Equity Securities, based on quoted prices in active markets. The valuation of the Level 3 measurement considered the probabilities of the occurrence of the scenarios as discussed in Note 2. Includes related party amounts of $Nil and $517,281 for the three months ended June 30, 2024 and 2023, respectively and $Nil and $624,438 for the six months ended June 30, 2024 and from March 16, 2023 to June 30, 2023, respectively. Includes related party amounts of $Nil and $435,000 for the three months ended June 30, 2024 and 2023, respectively and $Nil and $435,000 for the six months ended June 30, 2024 and from March 16, 2023 to June 30, 2023, respectively. Includes related party amounts of $Nil and $100,000 for the three months ended June 30, 2024 and 2023, respectively and $Nil and $100,000 for the six months ended June 30, 2024 and from March 16, 2023 to June 30, 2023, respectively. Includes related party amounts of $Nil and $7,008 for the three months ended June 30, 2024 and 2023, respectively and $Nil and $7,111 for the six months ended June 30, 2024 and from March 16, 2023 to June 30, 2023, respectively. These represent equity investments with a readily determinable fair value. The Company has measured its investments to fair value in accordance with ASC 321, Investments-Equity Securities, based on quoted prices in active markets.