| Schedule of basic and diluted net income (loss) per share of Common Stock |
The following table reflects the calculation of basic and diluted net income (loss) per share of common stock (in dollars, except share amounts): | | | | | | | | | | | | FOR THE YEAR ENDED | | FOR THE TRANSITION PERIOD ENDED | | | June 30, 2025 | | June 30, 2024 | | | Non- | | | | | Non- | | | Redeemable | | Redeemable | | redeemable | Basic and diluted net income (loss) per share of Common Stock | | | | | | | | | | Numerator: | | | | | | | | | | Net income (loss) | | $ | 5,750,820 | | $ | (11,279,605) | | $ | (108,927,342) | Deemed dividend | | | — | | | — | | | (15,422,431) | Allocation of net income (loss) | | $ | 5,750,820 | | $ | (11,279,605) | | $ | (124,349,773) | Denominator: | | | | | | | | | | Basic and diluted weighted average shares outstanding | | | 5,987,645 | | | 18,500 | | | 178,651 | Basic net income (loss) per share of Common Stock | | $ | 0.96 | | $ | (609.72) | | $ | (696.05) |
The following table reflects the calculation of diluted net income (loss) per share of common stock (in dollars, except share amounts): | | | | | | | | | | | | FOR THE YEAR ENDED | | FOR THE TRANSITION PERIOD ENDED | | | June 30, 2025 | | June 30, 2024 | | | Non- | | | | | Non- | | | redeemable | | Redeemable | | redeemable | Diluted net income (loss) per common stock | | | | | | | | | | Numerator: | | | | | | | | | | Allocation of net income (loss), | | $ | 5,750,820 | | $ | (11,279,605) | | $ | (124,349,773) | Change in fair value of financial instruments | | | (15,147,345) | | | — | | | — | Interest on dilutive instruments | | | 7,148,116 | | | — | | | — | Allocation of net income (loss), as adjusted | | $ | (2,248,409) | | $ | (11,279,605) | | $ | (124,349,773) | Denominator: | | | | | | | | | | Dilutive weighted average common stock outstanding | | | 5,987,645 | | | 18,500 | | | 178,651 | If converted shares | | | — | | | — | | | — | | | | 5,987,645 | | | 18,500 | | | 178,651 | Diluted net income (loss) per common stock | | $ | (0.38) | | $ | (609.72) | | $ | (696.05) |
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| Schedule of dilutive instruments |
| | | | | Description | | June 30, 2025 | | June 30, 2024 | Sellers Notes | | 15,103,895 | | 14,012,965 | Convertible notes | | 5,317,252 | | 4,722,875 | Secured convertible note | | 49,230,040 | | 9,801,273 | Subscription agreement | | 4,354,048 | | 938,967 | Tau agreement | | 35,282 | | — | Promissory note | | 6,215 | | 379,375 | Total Shares issuable under Convertible Note obligations – if converted total dilutive | | 74,046,732 | | 29,855,455 | | | | | | Public Warrants | | 10,062,500 | | 10,062,500 | Private Warrants | | 5,553,125 | | 5,553,125 | Secured convertible note warrants | | 600,000 | | 600,000 | Total excluded under treasury method – out of the money | | 16,215,625 | | 16,215,625 |
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