SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2022

At March 31, 2022 and December 31, 2021, the common stock subject to possible redemption reflected in the condensed consolidated balance sheets is reconciled in the following table:

SCHEDULE OF CONDENSED BALANCE SHEET

Common stock subject to possible redemption, January 1, 2021	$	116,150,000
Plus:
Remeasurement of Class A common stock subject to redemption		1,150,000
Common stock subject to possible redemption, December 31, 2021		117,300,000
Plus:
Remeasurement of Class A common stock subject to redemption		1,150,000
Common stock subject to possible redemption, March 31, 2022	$	118,450,000

SCHEDULE OF CALCULATION OF BASIC AND DILUTED NET LOSS PER COMMON SHARE

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

	Redeemable common stock			Non- redeemable common stock			Redeemable common stock			Non- redeemable common stock
	Three Months Ended						Three Months Ended
	March 31, 2022						March 31, 2021
	Redeemable common stock			Non- redeemable common stock			Redeemable common stock			Non- redeemable common stock
Basic and diluted net loss per common share
Numerator:
Allocation of net loss, as adjusted	$	(806,996	)	$	(249,175	)	$	(278,093	)	$	(85,866	)
Denominator:
Basic and diluted weighted average shares outstanding		11,500,000			3,550,833			11,500,000			3,550,833

Basic and diluted net loss per share of common stock	$	(0.07	)	$	(0.07	)	$	(0.02	)	$	(0.02	)

Globis Acquisition Corp. 10-Q