---
title: "M3-BRIGADE ACQUISITION V CORP C/WTS (TO PUR COM) | 10-Q: FY2026 Q1 Revenue: USD 0"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286471773.md"
datetime: "2026-05-14T21:29:08.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286471773.md)
  - [en](https://longbridge.com/en/news/286471773.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286471773.md)
---

# M3-BRIGADE ACQUISITION V CORP C/WTS (TO PUR COM) | 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 -3.684 M.

M3-BRIGADE ACQUISITION V CORP. operates as a single reporting segment, functioning as a blank check company focused on a business combination, and as such, no segmented revenue is reported .

#### Operational Metrics

-   **Net Income:** For the three months ended March 31, 2026, net income was $1,713,069, a decrease from $2,913,268 for the three months ended March 31, 2025 .
-   **General and Operating Costs:** These costs increased significantly to $985,315 for the three months ended March 31, 2026, compared to $171,860 for the same period in 2025 .
-   **Interest Earned on Investments held in Trust Account:** This non-operating income was $2,698,384 for the three months ended March 31, 2026, down from $3,085,128 for the three months ended March 31, 2025 .

#### Cash Flow

-   **Net Cash Used in Operating Activities:** The company used - $1,398,973 in operating activities for the three months ended March 31, 2026, a substantial increase compared to - $2,550 for the same period in 2025 .
-   **Net Cash Provided by Financing Activities:** Financing activities provided $1,100,000 for the three months ended March 31, 2026, compared to $0 for the same period in 2025 .

#### Balance Sheet and Liquidity (Unique Metrics)

-   **Cash:** As of March 31, 2026, cash stood at $876,078, a decrease from $1,175,051 as of December 31, 2025 .
-   **Investments held in Trust Account:** These investments increased to $309,579,292 as of March 31, 2026, from $306,880,908 as of December 31, 2025 .
-   **Working Capital:** The company had a working capital deficit of - $6,981,202 as of March 31, 2026 .
-   **Related Party Promissory Notes:** As of March 31, 2026, there was a $2,500,000 convertible promissory note and a $1,100,000 promissory note outstanding to the Sponsor .

#### Future Outlook and Strategy

M3-BRIGADE ACQUISITION V CORP. is pursuing a business combination with ReserveOne, Inc. and ReserveOne Holdings, Inc., which involves a domestication to Delaware and subsequent mergers, with closing anticipated in the second quarter of 2026 . The company has secured PIPE investments, including an Equity PIPE of up to $500,000,000 and a Convertible Notes PIPE of up to $250,000,000, with net proceeds to be converted into Bitcoin . Management has determined that liquidity concerns and the mandatory liquidation date raise substantial doubt about the Company’s ability to continue as a going concern .

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