Recapitalization (Tables)
|
3 Months Ended |
12 Months Ended |
Mar. 31, 2025 |
Dec. 31, 2024 |
| Recapitalization [Abstract] |
|
|
| Schedule of Reconciles Business Combination |
The following table reconciles the elements of the Business Combination to the condensed consolidated
statements of cash flows and the condensed consolidated statement of changes in stockholders’ equity (deficit) for the three months
ended March 31, 2024:
| Cash-trust and cash, net of redemptions | |
$ | 2,455,361 | |
| Add: proceeds from PIPE investment | |
| 4,999,998 | |
| Less: transaction costs and advisory fees, paid | |
| (7,455,359 | ) |
| Net proceeds from the Business Combination | |
| — | |
| Less: Subject Vesting Shares liability | |
| (11,792,000 | ) |
| Less: True Up Shares liability | |
| (555,000 | ) |
| Less: accounts payable and accrued liabilities combined | |
| (9,054,854 | ) |
| Add: other, net | |
| 374,377 | |
| Reverse recapitalization, net | |
$ | (21,027,477 | ) |
|
The following table reconciles the elements of the Business Combination to the consolidated
statements of cash flows and the consolidated statement of changes in stockholders’ equity (deficit) for the year ended December 31,
2024:
| Cash-trust and cash, net of redemptions | |
$ | 2,455,361 | |
| Add: proceeds from PIPE investment | |
| 4,999,998 | |
| Less: transaction costs and advisory fees, paid | |
| (7,455,359 | ) |
| Net proceeds from the Business Combination | |
| — | |
| Less: Subject Vesting Shares liability | |
| (11,792,000 | ) |
| Less: True Up Shares liability | |
| (555,000 | ) |
| Less: accounts payable and accrued liabilities combined | |
| (9,054,854 | ) |
| Add: other, net | |
| 374,377 | |
| Reverse recapitalization, net | |
$ | (21,027,477 | ) |
|
| Schedule of Reconciles Business Combination |
The number of shares of Common Stock issued immediately following
the consummation of the Business Combination were:
| XPDB Class A common stock, outstanding prior to the Business Combination | |
| 10,608,178 | |
| Less: Redemption of XPDB Class A common stock | |
| (10,381,983 | ) |
| Class A common stock of XPDB | |
| 226,195 | |
| XPDB Class B common stock, outstanding prior to the Business Combination | |
| 7,187,500 | |
| PIPE subscription | |
| 588,235 | |
| Business Combination Class A common stock | |
| 8,001,930 | |
| Legacy Montana Shares | |
| 45,821,482 | |
| Class A and B Common Stock immediately after the Business Combination | |
| 53,823,412 | |
|
The number of shares of Common Stock issued immediately
following the consummation of the Business Combination were:
| XPDB Class A common stock, outstanding prior to the Business Combination | |
| 10,608,178 | |
| Less: Redemption of XPDB Class A common stock | |
| (10,381,983 | ) |
| Class A common stock of XPDB | |
| 226,195 | |
| XPDB Class B common stock, outstanding prior to the Business Combination | |
| 7,187,500 | |
| PIPE subscription | |
| 588,235 | |
| Business Combination Class A common stock | |
| 8,001,930 | |
| Legacy Montana Shares | |
| 45,821,482 | |
| Class A and B Common Stock immediately after the Business Combination | |
| 53,823,412 | |
|
| Schedule of Number of Legacy Montana Shares |
The number of Legacy Montana shares was determined as follows:
| | |
Legacy Montana
Units | | |
The Company’s
Shares
after
conversion
ratio | |
| Class A common stock | |
| 1,725,418 | | |
| 41,061,840 | |
| Class B common stock | |
| 200,000 | | |
| 4,759,642 | |
|
The number of Legacy Montana shares was determined
as follows:
| | |
Legacy
Montana
Units | | |
The Company’s
Shares after
conversion
ratio | |
| Class A common Stock | |
| 1,725,418 | | |
| 41,061,840 | |
| Class B common Stock | |
| 200,000 | | |
| 4,759,642 | |
|