Quetta Acquisition Corp SEC 10-Q Report

Quetta Acquisition Corp, a company focused on identifying and merging with businesses in the financial technology sector in Asia, has released its Form 10-Q report for the quarter ended September 30, 2025. The report provides a detailed overview of the company's financial performance and business activities, reflecting the challenges and strategic initiatives undertaken during the period. Financial Highlights Net Income (Loss): The company reported a net loss of $(34,853) for the three months ended September 30, 2025, compared to a net income of $603,904 for the same period in 2024. For the nine months ended September 30, 2025, the net loss was $(836,474), a significant decline from the net income of $1,760,025 reported for the same period in 2024. The decrease in net income is primarily attributed to increased formation and operational costs, as well as higher general and administrative expenses.Basic and Diluted Net Income (Loss) Per Share, Redeemable Common Stock: The net loss per share for redeemable common stock was $(0.01) for the three months ended September 30, 2025, compared to $0.07 for the same period in 2024. For the nine months ended September 30, 2025, the net loss per share was $(0.21), compared to $0.20 for the same period in 2024.Basic and Diluted Net Income (Loss) Per Share, Non-Redeemable Common Stock: The net loss per share for non-redeemable common stock was $(0.01) for the three months ended September 30, 2025, compared to $0.07 for the same period in 2024. For the nine months ended September 30, 2025, the net loss per share was $(0.21), compared to $0.20 for the same period in 2024.Interest Income: The company earned $196,337 in interest income for the three months ended September 30, 2025, a decrease from $944,242 for the same period in 2024. For the nine months ended September 30, 2025, interest income was $670,259, down from $2,804,976 for the same period in 2024. This decline is due to a reduction in the balance of investments held in the Trust Account. Business Highlights Business Combination Efforts: Quetta Acquisition Corporation is actively pursuing a business combination with KM QUAD, a Cayman Islands company. The transaction involves a merger that will result in KM QUAD becoming a wholly-owned subsidiary of Quad Global, a subsidiary of Quetta. KM QUAD's shareholders will receive 30 million ordinary shares of Quad Global, with certain shares subject to a six-month lock-up period post-closing.Geographical Focus: The company is focusing its efforts on target businesses in Asia, particularly in the financial technology sector. This strategic focus is expected to guide the company's search for a suitable business combination.Operational Status: As of September 30, 2025, Quetta Acquisition Corporation has not commenced any operations. The company's activities have been primarily related to its formation, the initial public offering, and the identification of a target company for a business combination.Extension of Business Combination Deadline: The company has extended the deadline to complete its initial business combination to October 10, 2026, allowing for up to 21 one-month extensions by depositing $60,000 into the trust account for each extension.Future Outlook: The company anticipates incurring significant costs related to remaining a publicly traded entity and pursuing a business combination. There is substantial doubt about the company's ability to continue as a going concern if a business combination is not completed within the specified period.Impact of Global Events: The company acknowledges that various global conflicts and economic uncertainties, such as the Russia/Ukraine and Hamas/Israel conflicts, may adversely affect its ability to consummate a business combination or the operations of a target business.SEC Filing: Quetta Acquisition Corp [ QETA ] - 10-Q - Nov. 14, 2025