Company: SIMA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076651
Chunk: 58

Company: SIM Acquisition Corp. I
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 58
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    Denominator: 

    Weighted-average shares outstanding 
     23,000,000  
     7,666,667  
     23,000,000  
     7,666,667 
  
    Basic and Diluted income (loss) per share 
    $0.07  
     0.07  
     0.15  
     0.15 

    For the three months ended
June 30, 2024  
    For the period from
January 29,
    2024 (inception) to June 30, 2024 

    Class A Redeemable  
    Class B
Non-Redeemable  
    Class A Redeemable  
    Class B
Non-Redeemable 
  
    Basic and Diluted net income (loss) per share: 

    Numerator: 

    Allocation of net income (loss) 
    $      -  
     (12,841) 
        -  
     (41,305)

    Denominator: 

    Weighted-average shares outstanding 
     -  
     6,666,667  
     -  
     6,666,667 
  
    Basic and Diluted income (loss) per share 
    $-  
     (0.01) 
        
     (0.01)

Income Taxes

The Company accounts for income
taxes under FASB ASC Topic 740, “Income Taxes,” which requires an asset and liability approach to financial accounting
and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statements
and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates
applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary,
to reduce deferred tax assets to the amount expected to be realized.

FASB ASC Topic 740 prescribes
a recognition threshold and a measurement attribute for the financial statements recognition and measurement of tax positions taken or
expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained
upon examination by taxing authorities. The Company’s management determined that the Cayman Islands is the Company’s major
tax jurisdiction.