<span item_type="fundamental" item_id="5e1895a96c115e7420726d95c01984e8" counter_id="ST/US/JWSWF" env="prod"></span><span item_type="announcement" item_id="582437301537605377" env="prod"></span><p>Revenue: As of FY2025 Q3, the actual value is USD 0.</p><p>EPS: As of FY2025 Q3, the actual value is USD 0.</p><p>EBIT: As of FY2025 Q3, the actual value is USD -73.93 K.</p><p></p><h3>Segment Revenue</h3><ul><li>The company has not generated any operating revenues as of September 30, 2025, and expects to generate non-operating income in the form of interest income from the proceeds derived from the IPO.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1831359/000110465925111323/jwsm-20250930x10q.htm"></span></li></ul><h3>Operational Metrics</h3><ul><li>For the three months ended September 30, 2025, the company reported a net loss of $59,961, primarily due to general and administrative expenses of $66,945, offset by interest earned on cash held in the Trust Account of $6,984.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1831359/000110465925111323/jwsm-20250930x10q.htm"></span></li><li>For the nine months ended September 30, 2025, the company reported a net loss of $327,739, with general and administrative expenses totaling $348,492, offset by interest earned on cash held in the Trust Account of $20,753.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1831359/000110465925111323/jwsm-20250930x10q.htm"></span></li></ul><h3>Cash Flow</h3><ul><li>Net cash used in operating activities for the nine months ended September 30, 2025 was $627,178.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1831359/000110465925111323/jwsm-20250930x10q.htm"></span></li><li>As of September 30, 2025, the company had cash held in the Trust Account of $1,056,106 and cash outside the Trust Account of $114,029.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1831359/000110465925111323/jwsm-20250930x10q.htm"></span></li></ul><h3>Unique Metrics</h3><ul><li>The company has issued several promissory notes to fund operations, including the August 2023 Note, March 2024 Note, October 2024 Note, July 11th Note, and July 21st Note, with outstanding amounts totaling $1,822,000 as of September 30, 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1831359/000110465925111323/jwsm-20250930x10q.htm"></span></li></ul><h3>Future Outlook and Strategy</h3><ul><li>The company intends to use the funds held outside the Trust Account primarily to identify and evaluate target businesses, perform due diligence, and complete a Business Combination.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1831359/000110465925111323/jwsm-20250930x10q.htm"></span></li><li>The company has extended the deadline to complete a Business Combination multiple times, with the current Termination Date set for December 4, 2025, and the possibility of further extensions until December 4, 2026.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1831359/000110465925111323/jwsm-20250930x10q.htm"></span></li><li>Management has determined that the liquidity condition raises substantial doubt about the company’s ability to continue as a going concern, and intends to complete a Business Combination prior to the mandatory liquidation date.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1831359/000110465925111323/jwsm-20250930x10q.htm"></span></li></ul>

JAWS MUSTANG ACQUISITION CORP C/WTS 01/06/2030 (TO PUR COM) | 10-Q: FY2025 Q3 Revenue: USD 0