---
title: "Quartzsea Acquisition | 10-Q: FY2026 Q1 Revenue: USD 0"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/283872668.md"
datetime: "2026-04-23T17:22:43.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/283872668.md)
  - [en](https://longbridge.com/en/news/283872668.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/283872668.md)
---

# Quartzsea Acquisition | 10-Q: FY2026 Q1 Revenue: USD 0

Revenue: As of FY2026 Q1, the actual value is USD 0.

EPS: As of FY2026 Q1, the actual value is USD 0.05.

EBIT: As of FY2026 Q1, the actual value is USD -990.81 K.

Quartzsea Acquisition Corporation operates as a single segment, with the Chief Executive Officer and Chairwoman reviewing overall operating results, general and administrative expenses, and interest earned on investments in the Trust Account for resource allocation and performance assessment.

#### Operational Metrics

-   For the three months ended February 28, 2026, Quartzsea Acquisition Corporation reported a net income of $529,085, which is an increase compared to a net loss of - $31,255 for the three months ended February 28, 2025.
-   General and administrative expenses were $230,861 for the three months ended February 28, 2026, up from $33,504 for the three months ended February 28, 2025.
-   Total interest income significantly increased to $759,946 for the three months ended February 28, 2026, from $2,249 for the three months ended February 28, 2025.

#### Cash Flow and Liquidity

-   As of February 28, 2026, the cash balance stood at $6,133.
-   The company reported a working capital deficit of - $838,513 as of February 28, 2026.
-   A deferred underwriting commission of $3,312,000 was recorded as a non-current liability as of February 28, 2026, payable from the trust account upon consummation of the initial business combination and subject to a cap equal to 4.00% of remaining trust funds after redemptions, with the possibility of underwriters waiving this commission prior to the business combination.

#### Future Outlook and Strategy

Quartzsea Acquisition Corporation’s primary strategy is to complete an initial business combination, following the termination of a previous Merger Agreement with Broadway Technology Inc. on March 17, 2026, due to regulatory issues. The company intends to continue pursuing an initial business combination with another target, facing significant acquisition costs and a deadline of June 19, 2026, to consummate a transaction. Management has determined these conditions raise substantial doubt about the company’s ability to continue as a going concern.

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