Company: FSHPU
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001829126-25-005698
Chunk: 20

Company: Flag Ship Acquisition Corp
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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 calculated using the total net loss less any dividends paid. The Company then allocated the undistributed income ratably based on the weighted average number of shares outstanding between the redeemable and non-redeemable ordinary shares. Any remeasurement of the accretion to the redemption value of the ordinary shares subject to possible redemption was considered to be dividends paid to the public stockholders.

The net income (loss) per share presented in the unaudited statements of operations is based on the following:

    Schedule of unaudited statement of operations

    For the six months ended June 30, 2025

    For the six months ended June 30, 2024

    Net income (loss)
     
    $
    1,167,324 

    $
    (55,864
    )

    12

FLAG SHIP ACQUISITION CORPORATION

NOTES TO UNAUDITED FINANCIAL STATEMENTS

        For the three months ended June 30,
        2025

    For the three months ended June 30, 2024

    Net income
     
    $
    589,626

    $
    19,924

    Schedule of Basic and dilute net income per share

    For the Six Months Ended

    For the Six Months Ended

    June 30, 2025

    June 30, 2024

    Redeemable

    Non-Redeemable

    Redeemable

    Non-Redeemable

    Ordinary Share

    Ordinary Share

    Ordinary Share

    Ordinary Share

    Basic and diluted net income (loss) per share:

    Numerators:

    Allocation of net income (loss) including carrying value to redemption value
     
    $
    908,782

    $
    258,542

    $
    (10,003
    )
     
    $
    (45,861
    )
  
    Allocation of net income (loss)
     
    $
    908,782

    $
    258,542

    $
    (10,003
    )
     
    $
    (45,861
    )
  
    Denominators:

    Weighted-average shares outstanding

    6,900,000

    1,963,000

    379,121

    1,738,077

    Basic and diluted net income (loss) per share
     
    $
    0.13