Net Profit (Loss) Per Share

3 Months Ended

Mar. 31, 2024

Net Profit (Loss) Per Share [Abstract]

NOTE 8 - NET PROFIT (LOSS) PER SHARE:

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

	Three months ended March 31,
	2024			2023
Net profit (loss) for the period	$	(200,218	)	$	313,195
Less – interest earned on Investments held in Trust Account		(73,931	)		(745,040	)
Net loss excluding interest	$	(274,149	)	$	(431,845	)

Class A ordinary shares subject to possible redemption:
Numerator:
Net loss excluding interest	$	(36,484	)	$	(298,315	)
Accretion on Class A ordinary shares subject to possible redemption to redemption amount (“Accretion”)		112,558			905,040
	$	76,074		$	606,725

Denominator:
weighted average number of shares		515,019			7,495,311

Net profit per Class A ordinary share subject to possible redemption – basic and diluted	$	0.15		$	0.08

Non-redeemable Class A and B ordinary shares:
Numerator:
Net loss excluding interest	$	(237,665	)	$	(133,530	)
Accretion		(38,627	)		(160,000	)
		(276,292	)		(293,530	)

Denominator:
weighted average number of shares		3,355,000			3,355,000

Net loss per non-redeemable Class A and B ordinary share – basic and diluted	$	(0.08	)	$	(0.09	)

The potential exercise of 5,750,000 Public Warrants and 190,000 Private Warrants sold in the Public Offering and Private Placements as detailed in Note 3 into 5,940,000 shares has not been included in the calculation of diluted net profit (loss) per share, since the exercise of the warrants is contingent upon the occurrence of a future event.

Additionally, the effect of the conversion of the Second, Third, Fourth and Fifth Promissory Notes into an aggregate amount of 1,500,000 private warrants (exercisable into 1,500,000 shares) as detailed in Note 4, has not been included in the calculation of diluted net profit (loss) per share, since the conversion of the abovementioned promissory notes is contingent upon the occurrence of a future event.

As a result, diluted net profit (loss) per share is the same as basic net profit (loss) per share for each of the periods presented, and for each class.

Moringa Acquisition Corp 10-Q