Company: TBMC
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043357
Chunk: 21

Company: Trailblazer Merger Corp I
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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    $372,368  
    $      — 
  
    Denominator: 

    Basic and diluted weighted average common stock outstanding 
     4,499,115  
     1  
     9,019,499  
     1 
  
    Basic and diluted net (loss) income per common stock 
    $(0.10) 
    $—  
    $0.04  
    $— 

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.

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,” approximates the carrying amounts represented in the accompanying condensed consolidated balance sheets, primarily
due to their short-term nature.

Derivative
Financial Instruments

The
Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded
derivatives in accordance with FASB ASC Topic 815, “Derivatives and Hedging”. Derivative instruments are initially recorded
at fair value on the grant date and re-valued at each reporting date, with changes in the fair value reported in the statement of operations.
The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated
at the end of each reporting period. Derivative assets and liabilities are classified in the balance sheet as current or non-current
based on whether or not net-cash settlement or conversion of the instruments could be required within 12 months of the balance sheet
date.

12

Stock-Based
Compensation

The
Company adopted ASC Topic 718, Compensation—Stock Compensation, guidance to account for its stock-based compensation. It defines
a fair value-based method of accounting for an employee stock option or similar equity instrument. The Company recognizes all forms of
share-based payments, including stock option grants, warrants and restricted stock grants, at their fair value on the grant date, which
are based on the estimated number of awards that are ultimately expected to vest. Share-based payments, excluding restricted stock, are
valued using a Black-Scholes option pricing model. Grants of share-based payment awards issued to non-employees for services rendered