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Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Current assets    
Cash, cash equivalents and restricted cash $ 28,021,748 $ 375,796
Prepaid expenses and other current assets 613,754 126,971
Total current assets 31,455,631 502,767
Operating lease right-of-use asset 147,001 49,536
Property and equipment, net 16,373 3,832
Investment in AirJoule, LLC 338,178,633
Other assets 54,482
Total assets 369,852,120 556,135
Current liabilities    
Accounts payable 79,202 2,518,763
Accrued transaction fees 3,644,100
Other accrued expenses 1,720,318 244,440
Operating lease liability, current 30,227 22,237
True Up Shares liability 2,189,000
Total current liabilities 4,018,747 6,429,540
Earnout Shares liability 24,524,000
Subject Vesting Shares liability 7,819,000
Operating lease liability, non-current 124,002 27,299
Deferred tax liability 81,256,047
Total liabilities 117,741,796 6,456,839
Commitments and contingencies (Note 13)
Stockholders’ equity (deficit)    
Preferred stock, $0.0001 par value; 25,000,000 authorized shares and 0 shares issued and outstanding as of December 31, 2024 and December 31, 2023
Additional paid-in capital 53,577,270 11,263,647
Retained earnings (accumulated deficit) 198,527,461 (17,168,101)
Total stockholders’ equity (deficit) 252,110,324 (5,900,704)
Total liabilities and stockholders’ equity (deficit) 369,852,120 556,135
Related Party    
Current assets    
Due from related party 2,820,129
Class A Common Stock    
Stockholders’ equity (deficit)    
Common stock value 5,593 3,274
Class B Common Stock    
Stockholders’ equity (deficit)    
Common stock value $ 476