Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2025

Summary of Significant Accounting Policies [Abstract]

A reconciliation of net loss per share is as follows for the three months ended June 30, 2025:

	Class A subject to possible redemption			Class A Perm			Class B
Allocation of undistributable loss	$	(57,549	)	$	(1,203	)	$	(30,072	)
Weighted average shares outstanding, basic and diluted		2,593,599			54,210			1,355,250
Basic and diluted net loss per share	$	(0.02	)	$	(0.02	)	$	(0.02	)

A reconciliation of net loss per share is as follows for the six months ended June 30, 2025:

	Class A subject to possible redemption			Class A Perm			Class B
Allocation of undistributable loss	$	(96,410	)	$	(1,986	)	$	(49,658	)
Weighted average shares outstanding, basic and diluted		2,631,146			54,210			1,355,250
Basic and diluted net loss per share	$	(0.04	)	$	(0.04	)	$	(0.04	)

A reconciliation of net income per share is as follows for the three months ended June 30, 2024:

	Class A subject to possible redemption		Class A Perm		Class B
Allocation of undistributable income	$	130,166	$	1,404	$	35,086
Weighted average shares outstanding, basic and diluted		5,027,813		54,210		1,355,250
Basic and diluted net income per share	$	0.03	$	0.03	$	0.03

A reconciliation of net income per share is as follows for the six months ended June 30, 2024:

	Class A subject to possible redemption		Class A Perm		Class B
Allocation of undistributable income	$	234,100	$	2,430	$	60,728
Weighted average shares outstanding, basic and diluted		5,224,407		54,210		1,355,250
Basic and diluted net income per share	$	0.04	$	0.04	$	0.04

Schedule of Common Stock Subject to Possible Redemption

The reconciliation of Class A common stock subject to possible redemption as of June 30, 2025 is as follows:

Gross proceeds from sale of Public Units	$	54,210,000
Less: Proceeds allocated to Public Warrants		(1,218,153	)
Less: Proceeds allocated to underwriters’ over-allotment option		(134,584	)
Less: Issuance costs allocated to Class A common stock subject to possible redemption		(3,928,774	)
Less: Redemptions of Class A common stock		(50,051,182	)
Accretion to redemption value		12,216,286
Class A common stock subject to possible redemption	$	11,093,593

The reconciliation of Class A common stock subject to possible redemption as of December 31, 2024 is as follows:

Gross proceeds from sale of Public Units	$	54,210,000
Less: Proceeds allocated to Public Warrants		(1,218,153	)
Less: Proceeds allocated to underwriters’ over-allotment option		(134,584	)
Less: Issuance costs allocated to Class A common stock subject to possible redemption		(3,928,774	)
Less: Redemption of Class A common stock		(30,194,356	)
Accretion to redemption value		11,289,712
Class A common stock subject to possible redemption	$	30,023,845

- Definition

Tabular disclosure of temporary equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.

+ References + Details

Four Leaf Acquisition Corp 10-Q