| Schedule of Reconciles Segment Profit or Loss to Consolidated Net Income |
The following table reconciles segment profit
or loss to consolidated net income on the condensed consolidated statements of operations:
| | |
Three Months Ended
March 31, | |
| | |
2025 | | |
2024 | |
| Interest income | |
$ | 243,024 | | |
$ | 26,146 | |
| Gain on contribution to AirJoule, LLC | |
| — | | |
| 333,500,000 | |
| Net change in fair value of liabilities | |
| 18,412,106 | | |
| (9,828,000 | ) |
| Other income | |
| 1,348 | | |
| — | |
| Less: | |
| | | |
| | |
| General and administrative | |
| 2,786,484 | | |
| 813,239 | |
| Research and development | |
| 387,919 | | |
| 846,157 | |
| Transaction costs incurred in connection with business combination | |
| — | | |
| 54,693,103 | |
| Income tax expense (benefit) | |
| (1,642,658 | ) | |
| 85,725,163 | |
| Other segment items (1) | |
| 2,246,075 | | |
| 65,192 | |
| Segment net income | |
| 14,878,658 | | |
| 181,555,292 | |
| Reconciliation of profit or loss | |
| | | |
| | |
| Adjustments and reconciling items | |
| — | | |
| — | |
| Consolidated net income | |
$ | 14,878,658 | | |
$ | 181,555,292 | |
| (1) | Other segment items included in segment net income include sales and marketing, depreciation and amortization expense and equity loss from investment in AirJoule, LLC |
|
The following table reconciles segment profit
or loss to consolidated net income (loss) on the consolidated statements of operations:
| | |
Year Ended
December 31, | |
| | |
2024 | | |
2023 | |
| Interest income | |
$ | 932,371 | | |
$ | 11,541 | |
| Gain on contribution to AirJoule, LLC | |
| 333,500,000 | | |
| — | |
| Net change in fair value of liabilities | |
| 31,536,000 | | |
| — | |
| Other income | |
| 2,217,690 | | |
| — | |
| Less: | |
| | | |
| | |
| General and administrative | |
| 9,042,150 | | |
| 7,540,702 | |
| Research and development | |
| 2,020,388 | | |
| 3,305,612 | |
| Transaction costs incurred in connection with business combination | |
| 54,693,103 | | |
| — | |
| Income tax expense | |
| 81,256,047 | | |
| — | |
| Other segment items(1) | |
| 5,478,811 | | |
| 544,343 | |
| Segment net income (loss) | |
| 215,695,562 | | |
| (11,379,116 | ) |
| Reconciliation of profit or loss | |
| | | |
| | |
| Adjustments and reconciling items | |
| — | | |
| — | |
| Consolidated net income (loss) | |
$ | 215,695,562 | | |
$ | (11,379,116 | ) |
| (1) | Other segment items included in segment net income (loss)
include sales and marketing, depreciation and amortization expense and equity loss from investment in AirJoule, LLC |
|
| Schedule of Reconciles Segment Assets to Consolidated Assets |
The following table reconciles segment assets to consolidated assets
on the condensed consolidated balance sheets:
| | |
March 31, | | |
December 31, | |
| | |
2025 | | |
2024 | |
| Investment in AirJoule, LLC | |
$ | 340,948,355 | | |
$ | 338,178,633 | |
| Other segment assets (1) | |
| 24,657,567 | | |
| 31,673,487 | |
| Segment assets | |
| 365,605,922 | | |
| 369,852,120 | |
| Adjustments and reconciling items | |
| — | | |
| — | |
| Consolidated assets | |
$ | 365,605,922 | | |
$ | 369,852,120 | |
| (1) | Other segment assets included cash, cash equivalents and restricted cash, due from related party, prepaid expenses, operating lease right-of-use asset, and property and equipment, net |
|
The following table reconciles segment assets
to consolidated assets on the consolidated balance sheets:
| | |
December 31, | |
| | |
2024 | | |
2023 | |
| Investment in AirJoule, LLC | |
$ | 338,178,633 | | |
$ | — | |
| Other segment assets(1) | |
| 31,673,487 | | |
| 556,135 | |
| Segment assets | |
| 369,852,120 | | |
| 556,135 | |
| Adjustments and reconciling items | |
| — | | |
| — | |
| Total assets | |
$ | 369,852,120 | | |
$ | 556,135 | |
| (1) | Other segment assets included cash, cash equivalents and restricted
cash, due from related party, prepaid expenses, operating lease right-of-use asset, and property and equipment, net |
|