Company: TBMC
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002139
Chunk: 1802

Company: Trailblazer Merger Corp I
Filing Date: 2025-03-25
Form: 10-K
Item: Item 8
Chunk 1802
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 since the exercise of the rights is contingent upon the occurrence
of future events and the inclusion of such rights would be anti-dilutive. The rights are exercisable for 729,450 shares of Class A
common stock in the aggregate.

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

    For the Year December 31, 

    2024  
    2023 

    Class A  
    Class B  
    Class A  
    Class B 
  
    Basic net income per common stock 

    Numerator: 

    Allocation of net income 
    $277,658  
    $—  
    $1,347,254  
    $— 
  
    Denominator: 

    Basic and weighted average common stock outstanding 
     7,830,576  
     1  
     7,165,376  
     1 
  
    Basic net income per common stock 
    $0.04  
    $—  
    $0.19  
    $— 

    For the Year December 31, 

    2024  
    2023 

    Class A  
    Class B  
    Class A  
    Class B 
  
    Diluted net income per common stock 

    Numerator: 

    Allocation of net income 
    $277,658  
    $—  
    $1,347,254  
    $— 
  
    Denominator: 

    Diluted weighted average common stock outstanding 
     7,830,576  
     1  
     7,220,855  
     1 
  
    Diluted net income per common stock 
    $0.04  
    $—  
    $0.19  
    $— 

Concentration of Credit Risk

Financial instruments that potentially subject
the Company to concentration of credit risk consist of a cash account in a financial institution which, at times may exceed the Federal
Deposit Insurance Corporation coverage limit of $250,000. The Company has not experienced losses on this account.

F-14

Fair Value of Financial Instruments

The fair value of the Company’s assets and
liabilities, which qualify as financial instruments under ASC Topic 820, “Fair Value Measurement,” approx