---
title: "DoubleLine Commercial Real Estt Dbt ETF | 10-K: FY2025 Revenue: USD 0"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/280830643.md"
datetime: "2026-03-27T17:33:10.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/280830643.md)
  - [en](https://longbridge.com/en/news/280830643.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/280830643.md)
---

# DoubleLine Commercial Real Estt Dbt ETF | 10-K: FY2025 Revenue: USD 0

Revenue: As of FY2025, the actual value is USD 0.

EPS: As of FY2025, the actual value is USD 0.24.

EBIT: As of FY2025, the actual value is USD -21.47 M.

The company, Agriculture & Natural Solutions Acquisition Corporation, is a blank check company with no operating revenues, generating non-operating income primarily from interest on its Trust Account .

#### Operational Metrics

-   **Net Income:**
    -   For the year ended December 31, 2025: $10,468,766
    -   For the year ended December 31, 2024: $8,363,892
-   **General and Administrative Expenses:**
    -   For the year ended December 31, 2025: $5,498,493
    -   For the year ended December 31, 2024: $10,241,431
    -   In the first quarter of fiscal year 2025, a waiver of legal fees totaling $2,076,234 reduced general and administrative expenses .
-   **Interest on Trust Account:**
    -   For the year ended December 31, 2025: $15,967,259
    -   For the year ended December 31, 2024: $18,605,323

#### Cash Flow

-   **Cash Used in Operating Activities:**
    -   For the year ended December 31, 2025: $1,316,889
-   **Cash Provided by Investing Activities:**
    -   For the year ended December 31, 2025: $16,061,136, which includes a Trust Account withdrawal for redemptions of $17,378,025 and an Extension contribution deposit into the Trust Account of - $1,316,889 .
-   **Cash Used in Financing Activities:**
    -   For the year ended December 31, 2025: - $17,378,025, primarily due to redemption of Class A ordinary shares .
    -   For the year ended December 31, 2024: - $284,783, including repayment of advances from a related party .

#### Key Financial Position Metrics

-   **Cash Balance:**
    -   As of December 31, 2025: $1
    -   As of December 31, 2024: $1
-   **Working Capital Deficit:**
    -   As of December 31, 2025: $17,114,663
-   **Cash Held in Trust Account:**
    -   As of December 31, 2025: $365,968,284
    -   As of December 31, 2024: $366,062,161
-   **Working Capital Promissory Notes Outstanding Balance:**
    -   As of December 31, 2025: $1,500,000
    -   As of December 31, 2024: $1,500,000
-   **Extension Promissory Notes Outstanding Balance:**
    -   As of December 31, 2025: $1,316,890
-   **Deferred Underwriting Fees Payable:**
    -   As of December 31, 2025: $12,075,000
    -   As of December 31, 2024: $12,075,000
-   **Due to Related Party:**
    -   As of December 31, 2025: $7,531,935
    -   As of December 31, 2024: $1,248,181

#### Outlook / Guidance

The company must complete a business combination or liquidate by the Extended Termination Date, which is the earlier of November 13, 2026, or 30 days after the Warrant Holdings Sponsor fails to deposit funds . Management has expressed substantial doubt about the company’s ability to continue as a going concern if a business combination is not consummated by this date . The company intends to complete a business combination before the mandatory liquidation date, potentially requiring additional financing if acquisition costs are underestimated or significant redemptions occur .

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