Annual report [Section 13 and 15(d), not S-K Item 405]

Income Taxes (Tables)

v3.25.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2024
Income Taxes [Abstract]  
Schedule of Income Tax Provision (benefit)

The income tax provision (benefit) consists of the following:

 

   

Year Ended

December 31,
2024

   

Year Ended

December 31,
2023

 
Current            
Federal   $ 133,575     $ 1,181,348  
State    
-
     
-
 
Deferred                
Federal     (316,834 )     (209,820 )
State    
-
     
-
 
Valuation allowance     316,834       209,820  
Income tax provision   $ 133,575     $ 1,181,348  
Schedule of Deferred Tax Assets

The Company’s net deferred tax assets are as follows:

 

    December 31,  
    2024     2023  
Deferred tax assets:            
Start-up/Organization costs   $ 316,834     $ 209,896  
Net operating loss carryforwards    
-
     
-
 
Total deferred tax assets     316,834       209,896  
Valuation allowance     (316,834 )     (209,896 )
Deferred tax asset, net of allowance   $
-
    $
-
 
Schedule of Statutory Federal Income Tax Rate (benefit)

A reconciliation of the statutory federal income tax rate (benefit) to the Company’s effective tax rate (benefit) is as follows for the years ended December 31, 2024 and 2023:

 

   

Year Ended

December 31,
2024

   

Year Ended

December 31,
2023

 
Statutory federal income tax rate     21.0 %     21.00 %
Change in fair value of derivative warrant liabilities     (10.25 )%     43.18 %
Interest and penalties     (3.65 )%     - %
Change in valuation allowance     (14.12 )%     13.86 %
Income tax expenses     (7.02 )%     78.04 %