SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2023

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Summary of class A common stock subject to possible redemption reflected in the balance sheet

At December 31, 2023, the Class A common stock subject to possible redemption reflected in the balance sheet is reconciled in the following table:

Gross proceeds	$	115,000,000
Less:
Proceeds allocated to Public Warrants		(850,000)
Proceeds allocated to Rights		(6,920,000)
Total offering costs		(3,803,330)
Add:
Warrants issuance cost		94,647
Rights issuance cost		237,904
Accretion of carrying value to redemption value		13,387,011
Class A common stock subject to possible redemption at December 31, 2022	$	117,146,232
Less:
Stockholder redemption of 7,391,973 shares at redemption value		(76,054,240)
Stockholder redemption of 1,363,378 shares at redemption value		(14,619,421)
Add:
Accretion of carrying value to redemption value		3,056,238
Class A common stock subject to possible redemption at December 31, 2023	$	29,528,809

Summary of basic and diluted net income (loss) per ordinary share

The following table reflects the calculation of basic and diluted net income (loss) per ordinary share (in dollars, except share amounts) for the twelve months ended December 31, 2023, and December 31, 2022:

	For the Twelve Months Ended				For the Twelve Months Ended
	December 31, 2023				December 31, 2022
	Class A,		Class A and Class B,		Class A,		Class A and Class B,
	redeemable		Non-redeemable		redeemable		Non-redeemable
Basic and diluted net loss per common share
Numerator:
Allocation of net income (loss), as adjusted	$	(373,254)	$	(192,164)	$	212,506	$	72,219
Denominator:
Basic and diluted weighted average shares outstanding		5,972,785		3,075,000		8,782,192		2,984,589
Basic and diluted net income (loss) per common share	$	(0.06)	$	(0.06)	$	0.02	$	0.02