---
title: "SIM Acquisition Corp I | 10-Q: FY2026 Q1 Revenue: USD 0"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286632067.md"
datetime: "2026-05-16T03:55:59.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286632067.md)
  - [en](https://longbridge.com/en/news/286632067.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286632067.md)
---

# SIM Acquisition Corp I | 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 0.07.

EBIT: As of FY2026 Q1, the actual value is USD -2.282 M.

### Overview and Operations

SIM Acquisition Corp. I is a blank check company that has not generated any revenues to date, with its activities focused on its formation, Initial Public Offering, and the search for a target business . The company’s sole operating segment is monitored by its Chief Financial Officer, who reviews interest earned on cash and marketable securities in the Trust Account, along with operating and formation costs .

#### Net Income

For the three months ended March 31, 2026, SIM Acquisition Corp. I reported a net income of $2,028,399, which included $2,155,309 in interest income from the Trust Account, offset by $126,910 in general and administrative costs . This compares to a net income of $2,222,746 for the three months ended March 31, 2025, which comprised $2,464,218 of interest income and $241,472 in general and administrative costs .

#### General and Administrative Expenses

General and administrative expenses decreased to $126,910 for the three months ended March 31, 2026, from $241,472 for the same period in 2025 .

#### Interest Income from Trust Account

Interest earned on cash and marketable securities in the Trust Account was $2,155,309 for the three months ended March 31, 2026, a decrease from $2,464,218 for the corresponding period in 2025 .

#### Liquidity and Capital Resources

As of March 31, 2026, the company held approximately $468,399 in cash outside the Trust Account, an increase from $65,427 as of December 31, 2025 . The working capital deficit improved from -$34,165 as of December 31, 2025, to -$153,812 as of March 31, 2026 . The company borrowed $736,841 under Working Capital Loans from its Sponsor as of March 31, 2026, compared to $0.00 as of December 31, 2025 . The Trust Account balance increased from $245,118,303 as of December 31, 2025, to $247,273,611 as of March 31, 2026, with proceeds primarily intended for a Business Combination and tax payments .

### Future Outlook and Strategy

SIM Acquisition Corp. I has entered into a non-binding Letter of Intent (LOI) on April 26, 2026, for a full acquisition of American Industrial Technologies, Inc. (AIT), a telecommunications leader . The company plans to negotiate definitive documents with an initial 45-day exclusivity period . However, a high redemption rate of 22,447,232 Public Shares for approximately $242,175,471 following an Extension Amendment Proposal has reduced the Trust Account, potentially necessitating significant outside financing . The company faces mandatory liquidation if a Business Combination is not completed by July 12, 2027, raising substantial doubt about its ability to continue as a going concern .

### Related Stocks

- [SIMA.US](https://longbridge.com/en/quote/SIMA.US.md)

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