Company: IBACR
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010982
Chunk: 18

Company: IB Acquisition Corp.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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 Non-redeemable  
    Redeemable  
    Non-redeemable 

    For the Three Months Ended March 31,  
    For the Six Months Ended March 31, 

    2025  
    2024  
    2025  
    2024 

    Redeemable  
    Non-redeemable  
    Redeemable  
    Non-redeemable  
    Redeemable  
    Non-redeemable  
    Redeemable  
    Non-redeemable 
  
    Diluted net income (loss) per share of common stock: 

    Numerator: 

    Allocation of net income (loss) 
    $601,778  
    $222,348  
    $(20,384) 
    $(174,262) 
    $1,264,119  
    $467,075  
    $(16,528) 
    $(265,609)
  
    Denominator: 

    Weighted-average shares outstanding 
     11,500,000  
     4,249,090  
     383,333  
     3,277,107  
     11,500,000  
     4,249,090  
     189,560  
     3,046,301 
  
    Diluted net income (loss) per common stock 
    $0.05  
    $0.05  
    $(0.05) 
    $(0.05) 
    $0.11  
    $0.11  
    $(0.09) 
    $(0.09)

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 account
and management believes that the Company is not exposed to significant risks on such account. Uninsured cash amount as of March 31, 2025,
is $377,375.

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
Measurements and Disclosures,” approximates the carrying amounts represented in the accompanying balance sheet, primarily due to