Company: FSHPU
Filing Date: 2025-03-04
Form Type: 10-K
Source: 0001829126-25-001450
Chunk: 1019

Company: Flag Ship Acquisition Corp
Filing Date: 2025-03-04
Form: 10-K
Item: Item 9
Chunk 1019
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 calculates net loss per share in accordance with ASC Topic 260, “Earnings
         per Share.” In order to determine the net income attributable to both the redeemable
         shares and non-redeemable shares, the Company first considered the undistributed income
         allocable to both the redeemable common stock and non-redeemable common stock and
         the undistributed income is 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 common
         stock. Any remeasurement of the accretion to the redemption value of the common stock
         subject to possible redemption was considered to be dividends paid to the public stockholders.
       
      The net income (loss) per share presented in the statements of operations is based on the following:

    Schedule of unaudited statement of operations 

    For the year ended December 31,
2024  
    For the year ended December 31,
2023 
  
    Net income (loss) 
    $909,838  
    $(62,399)

    Schedule of Basic and dilute net income per share 

    For the Year Ended December 31,
2024  
    For the Year Ended December 31,
2023 

    Redeemable  
    Non-Redeemable  
    Redeemable  
    Non-Redeemable 

    Ordinary Share  
    Ordinary Share  
    Ordinary Share  
    Ordinary Share 
  
    Basic and diluted net income per share: 

    Numerators: 

    Allocation of net income (loss) including carrying value to redemption value 
    $604,085  
    $305,753  
    $-  
    $(62,399)
  
    Allocation of net income (loss) 
    $604,085  
    $305,753  
    $-  
    $(62,399)
  
    Denominators: 

    Weighted-average shares outstanding 
     3,657,377  
     1,851,153  
     -  
     1,500,000 
  
    Basic and diluted net income (loss) per share 
    $0.17  
    $0.17  
    $-  
    $(0.03)

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