XML 40 R20.htm IDEA: XBRL DOCUMENT v3.24.2
Summary of Significant Accounting Policies (Tables)
3 Months Ended
Mar. 31, 2024
Summary of Significant Accounting Policies [Abstract]  
Schedule of Net Income (Loss) Per Share Presented in the Statements of Operations The net income (loss) per share presented in the statements of operations is based on the following:
   Three Months Ended
March 31,
 
   2024   2023 
Net loss  $(3,055)  $(224,171)
Accretion of redeemable common stock to redemption value   (111,076)   (3,802,141)
Net loss including accretion of redeemable common stock to redemption value  $(114,131)  $(4,026,312)
Schedule of Basic and Diluted Net Income (Loss) Per Common Stock
  

 

Three Months Ended
March 31, 2024

  

Three Months Ended

March 31, 2023

 
  

Redeemable

shares

  

Non-

redeemable

shares

  

Redeemable

shares

  

Non-

redeemable

shares

 
Basic and diluted net income (loss) per common stock                
Numerator:                
Allocation of net loss  $(38,243)  $(75,888)  $(3,061,116)  $(965,196)
Accretion of redeemable common stock to redemption value   111,076    
    3,802,141    
 
Allocation of net income (loss)  $72,833   $(75,888)  $741,025   $(965,196)
                     
Denominator:                    
Basic and diluted weighted average shares outstanding
   837,857    1,662,623    5,273,000    1,662,623 
Basic and diluted net income (loss) per common stock
  $0.09   $(0.05)  $0.14   $(0.58)
Schedule of Common Stock Subject to Possible Redemption At March 31, 2024 and December 31, 2023 and 2022, the amount of common stock subject to possible redemption reflected in the balance sheets are reconciled in the following table:
Gross proceeds  $52,730,000 
Less:     
Proceeds allocated to public warrants   (3,532,910)
Proceeds allocated to public rights   (1,845,550)
Allocation of offering costs related to redeemable shares   (3,932,347)
Plus:     
Accretion of carrying value to redemption value   3,409,640 
Common stock subject to possible redemption - December 31, 2022  $46,828,833 
Plus:     
Accretion of carrying value to redemption value   8,920,393 
Redemption of public stockholders   (46,921,772)
Common stock subject to possible redemption - December 31, 2023  $8,827,454 
Plus:     
Accretion of carrying value to redemption value   111,076 
Common stock subject to possible redemption - March 31, 2024  $8,938,530