Company: IBACR
Filing Date: 2025-02-13
Form Type: 10-Q
Source: 0001493152-25-006426
Chunk: 15

Company: IB Acquisition Corp.
Filing Date: 2025-02-13
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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loss) per share as the redemption
value approximates fair value.

The
calculation of diluted net income (loss) 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 December 31, 2024, 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 (loss) per 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

DECEMBER
31, 2024

(Unaudited)

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

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

    For the Three Months Ended December 31,  
    For the Three Months Ended December 31, 

    2024  
    2023 

    Redeemable  
    Non-redeemable  
    Redeemable  
    Non-redeemable 
  
    Basic and diluted net income (loss) per common share 

    Numerator: 

    Allocation of net income (loss) 
    $662,342  
    $244,726  
    $—  
    $(87,491)
  
    Denominator: 

    Basic and diluted weighted-average shares outstanding 
     11,500,000  
     4,249,090  
     —  
     2,820,513 
  
    Basic and diluted net income (loss) per common share 
    $0.06  
    $0.06  
    $—  
    $(0.03)

Concentration
of Credit Risk

Financial
instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution,
which at times may exceed the Federal Depository Insurance Coverage of $250,000. The Company has not experienced losses on the cash