Net Profit (Loss) Per Share

12 Months Ended

Dec. 31, 2023

Net Profit (Loss) Per Share [Abstract]

NET PROFIT (LOSS) PER SHARE

NOTE 8 – NET PROFIT (LOSS) PER SHARE:

The following table reflects the calculation of basic and diluted net profit (loss) per share (in dollars, except share amounts):

	Year ended December 31,
	2023			2022
Net profit for the year	$	263,073		$	584,025
Less – interest earned on Investment held in Trust Account		(1,364,444	)		(1,685,666	)
Net loss excluding interest	$	(1,101,371	)	$	(1,101,641	)
Class A ordinary shares subject to possible redemption:
Numerator:
Net loss excluding interest	$	(498,567	)	$	(852,835	)
Accretion to Class A ordinary shares subject to possible redemption to redemption amount (“Accretion”)		1,908,820			1,685,666
	$	1,410,253		$	832,831
Denominator:
Weighted average number of shares		2,774,850			11,500,000
Basic and diluted net profit per Class A ordinary share subject to possible redemption	$	0.51		$	0.07
Non-redeemable Class A and B ordinary shares:
Numerator:
Net loss excluding interest	$	(602,804	)	$	(248,806	)
Accretion		(544,376	)		-
		(1,147,180	)		(248,806	)
Denominator:
Weighted average number of shares		3,355,000			3,355,000
Basic and diluted net loss per non-redeemable Class A and B ordinary share	$	(0.34	)	$	(0.07	)

The potential exercise of 5,750,000 Public Warrants and 190,000 Private Warrants sold in the Public Offering and Private Placements as detailed in Note 3 into 5,940,000 shares has not been included in the calculation of diluted net profit (loss) per share, since the exercise of the warrants is contingent upon the occurrence of a future event.

Additionally, the effect of the conversion of the Second, Third, Forth and Fifth Promissory Notes into an aggregate amount of 1,500,000 private warrants (exercisable into 1,500,000 shares) as detailed in Note 4, has not been included in the calculation of diluted net profit (loss) per share, since the conversion of the abovementioned promissory notes is contingent upon the occurrence of a future event.

As a result, diluted net profit (loss) per share is the same as basic net profit (loss) per share for each of the periods presented, and for each class.