Broad Capital Acquisition Corp SEC 10-Q Report

Broad Capital Acquisition Corp, a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or other similar business combination with one or more businesses, has released its Form 10-Q report for the first quarter of 2025. The report provides a detailed overview of the company's financial performance and operational activities during the period. Financial Highlights Net Loss: $385,603. The company reported a net loss for the three months ended March 31, 2025, primarily due to formation and operating costs, franchise tax, and interest expenses.Net Loss Per Share: $0.12. The basic and diluted net loss per share of common stock for the three months ended March 31, 2025, reflects the company's financial performance during the period. Business Highlights Business Overview: Broad Capital Acquisition Corp is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or other similar business combination with one or more businesses.Operational Activities: As of March 31, 2025, the company has not commenced any operations. All activities relate to the company's formation, the Initial Public Offering, and its pursuit of an initial Business Combination.Business Combination Efforts: The company was pursuing a business combination with Openmarkets Group Pty Ltd., but the merger agreement was terminated by Openmarkets on February 12, 2025.Trust Account Management: The company has cash held in a trust account, which is invested in an interest-bearing demand deposit account. The interest earned on these funds is for the benefit of public stockholders.Extension of Business Combination Period: The company has extended the period to consummate a business combination multiple times, with the latest extension allowing up to twelve one-month extensions until January 13, 2026.Future Outlook: The company expects to incur significant costs in pursuit of its financing and acquisition plans. Management plans to address liquidity needs through borrowing of Working Capital Loans.Segment Information: The company operates as a single segment, with the Chief Executive Officer and Chief Financial Officer reviewing the operating results for the company as a whole to make decisions about resource allocation and financial performance.SEC Filing: Broad Capital Acquisition Corp [ BRAC ] - 10-Q - May. 20, 2025