Company: IBACR
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023510
Chunk: 17

Company: IB Acquisition Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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 the next twelve months.

Net
Income Per Common Stock

The
Company complies with the accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share”. Net income
per common share is computed by dividing net income by the weighted average number of shares of common stock outstanding for the period.
Remeasurement associated with the redeemable shares of common stock is excluded from earnings per share as the redemption value approximates
fair value.

The
calculation of diluted net income per share does not consider the effect of the rights issued in connection with the (i) Initial Public
Offering, and (ii) the private placement since the exercise of the rights are contingent upon the occurrence of future events. As of
June 30, 2025, the rights are exercisable to purchase 605,525 shares of common stock in the aggregate. The weighted average of these
shares was excluded from the calculation of diluted net income common stock since the inclusion of such rights would be anti-dilutive.
The rights cannot be converted to shares of common stock prior to an initial Business Combination; therefore, they have been classified
as anti-dilutive.

    8

IB
ACQUISITION CORP.

NOTES
TO FINANCIAL STATEMENTS

JUNE
30, 2025

(Unaudited)

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

 SCHEDULE
OF BASIC AND DILUTED NET INCOME (LOSS) PER COMMON STOCK

    Redeemable  
    Non-redeemable  
    Redeemable  
    Non-redeemable  
    Redeemable  
    Non-redeemable  
    Redeemable  
    Non-redeemable 

    For the Three Months Ended June 30,  
    For the Nine Months Ended June 30, 

    2025  
    2024  
    2025  
    2024 

    Redeemable  
    Non-redeemable  
    Redeemable  
    Non-redeemable  
    Redeemable  
    Non-redeemable  
    Redeemable  
    Non-redeemable 
  
    Basic net income per share of common stock: 

    Numerator: 

    Allocation of net income 
    $597,750