<span item_type="fundamental" item_id="819871b41e043f00a46c55eeb3b85c63" counter_id="ST/US/FSHPR" env="prod"></span><span item_type="announcement" item_id="515746300465191297" env="prod"></span><p>EPS: As of FY2025 Q1, the actual value is USD 0.07.</p><p>EBIT: As of FY2025 Q1, the actual value is USD 577.7 K.</p><p></p><h3>Segment Revenue</h3><ul><li>The company has not generated any operating revenues as of March 31, 2025, and will not generate any until after the completion of a Business Combination.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1850059/000182912625003624/flagshipacq_10q.htm"></span></li></ul><h3>Operational Metrics</h3><ul><li><strong>Net Income</strong>: For the three months ended March 31, 2025, the company reported a net income of $577,698, compared to a net loss of - $75,788 for the same period in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1850059/000182912625003624/flagshipacq_10q.htm"></span></li><li><strong>Formation, General and Administrative Expenses</strong>: These expenses were - $162,071 for the three months ended March 31, 2025, compared to - $75,788 for the same period in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1850059/000182912625003624/flagshipacq_10q.htm"></span></li></ul><h3>Cash Flow</h3><ul><li><strong>Net Cash Used in Operating Activities</strong>: For the three months ended March 31, 2025, net cash used in operating activities was - $183,542.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1850059/000182912625003624/flagshipacq_10q.htm"></span></li><li><strong>Cash and Investments Held in Trust Account</strong>: As of March 31, 2025, the company had $71,538,905 in cash and investments held in the Trust Account.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1850059/000182912625003624/flagshipacq_10q.htm"></span></li></ul><h3>Unique Metrics</h3><ul><li><strong>Interest and Dividends Earned</strong>: The company earned $739,769 in interest and dividends on cash and investments held in the Trust Account for the three months ended March 31, 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1850059/000182912625003624/flagshipacq_10q.htm"></span></li></ul><h3>Future Outlook and Strategy</h3><ul><li><strong>Core Business Focus</strong>: The company plans to effectuate its Business Combination using cash derived from the proceeds of its initial public offering and the sale of private units, shares, debt, or a combination of these.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1850059/000182912625003624/flagshipacq_10q.htm"></span></li><li><strong>Proposed GFT Business Combination</strong>: On April 18, 2025, the company entered into an Agreement and Plan of Merger with Great Future Technology Inc., which will result in the company merging with and into a wholly-owned subsidiary of GFT, with the subsidiary continuing as the surviving entity.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1850059/000182912625003624/flagshipacq_10q.htm"></span></li><li><strong>Going Concern Consideration</strong>: The company has substantial doubt about its ability to continue as a going concern within one year after the date that the unaudited financial statements are issued, due to the possibility of not completing a Business Combination within the prescribed period.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1850059/000182912625003624/flagshipacq_10q.htm"></span></li></ul>

FLAG SHIP ACQUISITION CORPORATION COM USD0.001 (SUB/RIGHT 31/03/2026) | 10-Q: FY2025 Q1 EPS: USD 0.07