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Recapitalization (Tables)
 9 Months Ended
Sep. 30, 2024
Recapitalization [Abstract]  
Schedule of Reconciles the Elements of the Merger The following table reconciles the elements of the Merger to the condensed consolidated and combined statements of cash flows and the condensed consolidated and combined statements of changes in stockholders’ equity (deficit) for the period ended September 30, 2024:

Cash received from NUBI Trust

  

25,160,047

 

Less: discount payment related to Non Redemption Agreement

  

(13,937,997

)

Less: reimbursement for consideration shares related to the FPA

  

(2,193,800

)

Less: reimbursement for Recycled Shares related to the FPA

  

(80,241

)

Less: transaction expenses paid in connection with the Merger

  

(8,948,009

)

Net cash received from NUBI Trust

  

—

 

Add: cash from NUBI operating account

  

17,555

 

Add: prepaid expenses

  

165,407

 

Less: derivative liabilities

  

(20,889,950

)

Less: other liabilities

  

(4,086,172

)

Reverse recapitalization, net

  

(24,793,160

)
Schedule of Consummation of the Merger

The number of shares of common stock issued immediately following the consummation of the Merger were:

Nubia common stock, outstanding prior to the closing of the Merger

  

6,004,741

Shares issued to Nubia convertible noteholders

  

5,962,325

Predecessor HBC Shares

  

69,800,000

Common stock immediately after the closing of the Merger

  

81,767,066
Schedule of Number of Predecessor HBC Shares

The number of Predecessor HBC shares as follows:

  

Predecessor
HBC Shares

  

Shares
issued to
shareholders of
Predecessor
HBC

Common stock

  

1,000

  

69,800,000