XML 61 R39.htm IDEA: XBRL DOCUMENT
v3.24.1.1.u2

NET INCOME (LOSS) PER SHARE (Tables) | 3 Months Ended | 12 Months Ended
--- | --- | ---
Mar. 31, 2024 | Dec. 31, 2023
Earnings Per Share [Abstract] |  |
SCHEDULE OF NET LOSS PER SHARE | The following table sets forth the computation of basic and diluted income (loss) per share: SCHEDULE OF NET LOSS PER SHARE
|  | Three Months Ended March 31, |
|  | 2024 |  |  | 2023 |
Numerator: |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 11,264,842 |  |  | $ | (30,756,144 | )
Less: Cumulative undeclared Series A dividends |  |  | (1,370 | ) |  |  | — |
Less: Undistributed earnings allocated to participating securities |  |  | (756,606 | ) |  |  | — |
Net income (loss) attributable to common stockholders |  | $ | 10,506,866 |  |  | $ | (30,756,144 | )
Net income (loss) |  | $ | 11,264,842 |  |  | $ | (30,756,144 | )
Less: Cumulative undeclared Series A dividends |  |  | (1,370 | ) |  |  | — |
Less: Convertible promissory note interest |  |  | 155,786 |  |  |  | — |
Less: Convertible promissory note change in fair value |  |  | (48,468,678 | ) |  |  | — |
Net loss attributable to common stockholders, diluted |  | $ | (37,049,420 | ) |  | $ | (30,756,144 | )
Denominator: |  |  |  |  |  |  |  |
Weighted average common stock outstanding, basic |  |  | 137,333,802 |  |  |  | 119,999,989 |
Net income (loss) per share attributable to common stockholders, basic |  | $ | 0.08 |  |  | $ | (0.26 | )
Weighted average common stock outstanding, basic |  |  | 137,333,802 |  |  |  | — |
Effect of potentially dilutive convertible promissory notes |  |  | 5,053,849 |  |  |  | — |
Total potentially dilutive securities |  |  | 5,053,849 |  |  |  | — |
Weighted average common stock outstanding, diluted |  |  | 142,387,651 |  |  |  | 119,999,989 |
Net loss per share attributable to common stockholders - basic and diluted |  | $ | (0.26 | ) |  | $ | (0.26 | )
Net loss per share attributable to common stockholders - diluted |  | $ | (0.26 | ) |  | $ | (0.26 | )
| Schedule of Calculation of Basic and Diluted Net Income (Loss) Per Ordinary Share
|  | For the year ended |
|  | December 31, 2023 |  |  | December 31, 2022 |
|  | Class A (Redeemable) Ordinary Shares |  |  | Class A (Non – Redeemable) Ordinary Shares |  |  | Class B Ordinary Shares |  |  | Class A (Redeemable) Ordinary Shares |  |  | Class A (Non – Redeemable) Ordinary Shares |  |  | Class B Ordinary Shares |
Basic and diluted net (loss) income per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allocation of net (loss) income |  | $ | (19,134 | ) |  | $ | (44,186 | ) |  | $ | (4,005 | ) |  | $ | 3,172,916 |  |  | $ | 133,355 |  |  | $ | 1,102,090 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares outstanding |  |  | 5,333,742 |  |  |  | 12,317,077 |  |  |  | 1,116,256 |  |  |  | 34,500,000 |  |  |  | 1,450,000 |  |  |  | 11,983,333 |
Basic and diluted net (loss) income per share |  | $ | 0.00 |  |  | $ | 0.00 |  |  | $ | 0.00 |  |  | $ | 0.09 |  |  | $ | 0.09 |  |  | $ | 0.09 |
SCHEDULE OF ANTI-DILUTIVE NET LOSS PER SHARE | SCHEDULE OF ANTI-DILUTIVE NET LOSS PER SHARE
|  | March 31, |
|  | 2024 |  |  | 2023 |
Outstanding restricted stock units (a) |  |  | 3,751,622 |  |  |  | 10,355,527 |
Restricted Stock |  |  | 19,348,954 |  |  |  | - |
Public warrants |  |  | 17,250,000 |  |  |  | — |
Private warrants |  |  | 725,000 |  |  |  | — |
Convertible promissory notes (b) |  |  | — |  |  |  | 2,946,336 |
Earnout Shares |  |  | 24,500,000 |  |  |  | — |
Total |  |  | 65,575,576 |  |  |  | 13,301,863 |
(a) | As of March 31, 2024, there were an additional 7,148,506 restricted stock units that had vested but had not been legally settled into common stock and therefore were included in the basic net income per share. See Note 8 for additional information.
(b) | The number of shares were determined based on the conversion upon maturity provisions in the convertible promissory note agreements, dividing the conversion amount (principal plus accrued interest) by three times the estimated fair value of the Company’s common stock derived from the Company’s most recently completed convertible promissory notes valuation as of the balance sheet date.

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
Name: | us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
Name: | us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration