Summary of Significant Accounting Policies (Tables)

6 Months Ended

Sep. 30, 2025

Summary of Significant Accounting Policies [Abstract]

As of September 30, 2025, the redeemable common stock reflected in the balance sheet are reconciled in the following table:

Gross proceeds	$	230,000,000
Less:
Proceeds allocated to Public Warrants		(12,466,000	)
Proceeds allocated to Public Rights		(7,337,000	)
Issuance costs allocated to common stock		(13,850,689	)
Plus:
Remeasurement of carrying value to redemption value		33,653,689
Common stock subject to possible redemption, March 31, 2022		230,000,000
Plus:
Remeasurement of carrying value to redemption value		1,264,548
Less:
Redemption		(210,980,522	)
Common stock subject to possible redemption, March 31, 2023		20,284,026
Plus:
Remeasurement of carrying value to redemption value		2,011,747
Less:
Redemption		(11,368,921	)
Common stock subject to possible redemption, March 31, 2024		10,926,852
Plus:
Remeasurement of carrying value to redemption value		359,636
Less:
Redemption		(7,919,296	)
Common stock subject to possible redemption, March 31, 2025	$	3,367,192
Plus:
Remeasurement of carrying value to redemption value		14,250
Common stock subject to possible redemption, September 30, 2025	$	3,381,442

Schedule of Basic and Diluted Net Loss per Common Stock

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

	Three Months Ended September 30,						Six Months Ended September 30,
	2025			2024			2025			2024
Basic and diluted net loss per share:
Numerators:
Net loss	$	(96,967	)	$	(170,303	)	$	(217,047	)	$	(325,170	)

Denominators:
Basic and diluted weighted average shares outstanding		6,863,594			7,522,430			7,520,034			7,522,430
Basic and diluted net loss per share	$	(0.01	)	$	(0.02	)	$	(0.03	)	$	(0.04	)

- Definition

Tabular disclosure of temporary equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.

+ References + Details

International Media Acquisition Corp. 10-Q