Company: ONCHW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110042
Chunk: 61

Company: 1RT Acquisition Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 61
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 reporting period. Derivative liabilities are classified
in the unaudited condensed balance sheets as current or non-current based on whether or not net cash settlement or conversion of the
instrument could be required within 12 months of the balance sheet date.

Warrant Instruments

The Company accounted for the Public and Private
Placement Warrants issued in connection with the Initial Public Offering and the private placement in accordance with the guidance contained
in FASB ASC Topic 815, “Derivatives and Hedging”. Accordingly, the Company evaluated and classified the warrant instruments
under equity treatment at their assigned values.

9

 1RT ACQUISITION CORP. NOTES TO CONDENSED FINANCIAL STATEMENTS SEPTEMBER 30, 2025 (Unaudited)

Net Income Per Ordinary Share

The Company complies with accounting and disclosure
requirements of FASB ASC Topic 260, “Earnings Per Share.” Income and losses are shared pro rata to the shares. Net income
per Ordinary Share is computed by dividing net income by the weighted average number of Ordinary Shares outstanding for the period. Accretion
associated with the redeemable Ordinary Shares is excluded from income per Ordinary Share as the redemption value approximates fair value.

The calculation of diluted income per Ordinary
Share does not consider the effect of the Warrants issued in connection with the (i) Initial Public Offering, (ii) the exercise of the
over-allotment option and (iii) Private Placement, since the average price of the Ordinary Shares for the nine months ended September
30, 2025 was less than the exercise price and therefore, the inclusion of such Warrants under the Treasury stock method would be anti-dilutive
and the exercise is contingent upon the occurrence of future events.

The following table reflects the calculation
of basic and diluted net income per Ordinary Share:

    For the Three Months Ended
September 30, 2025  
    For the Nine Months Ended 
September 30, 2025 

    Class A  
    Class B  
    Class A  
    Class B 

    Ordinary Shares  
    Ordinary Shares  
    Ordinary Shares  
    Ordinary Shares 
  
    Basic net income per Ordinary Share 

    Numerator: 

    Allocation of net income, as adjusted 
    $1,114,143  
    $283,978  
    $781,295  
    $544,559 

    Den