---
title: "METAL SKY STAR ACQUISITION CORP | 10-Q: FY2026 Q1 Revenue: USD 0"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286632507.md"
datetime: "2026-05-16T04:08:45.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286632507.md)
  - [en](https://longbridge.com/en/news/286632507.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286632507.md)
---

# METAL SKY STAR ACQUISITION CORP | 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 -0.04.

EBIT: As of FY2026 Q1, the actual value is USD -128.45 K.

METAL SKY STAR ACQUISITION CORPORATION is a blank check company that has not engaged in any operations or generated operating revenues to date, and does not expect to generate operating revenue until after the completion of its initial Business Combination .

#### Operational Metrics

-   **Net Loss:** For the three months ended March 31, 2026, the net loss was - $113,689, compared to - $153,178 for the three months ended March 31, 2025 .
-   **Operating Costs:** Formation and operational costs were $122,625 for the three months ended March 31, 2026, a decrease from $223,820 for the three months ended March 31, 2025 .
-   **Other Income:** Total other income was $8,936 for the three months ended March 31, 2026, including realized interest of $5,821 and an unrealized gain of $3,115 . For the three months ended March 31, 2025, total other income was $70,642, comprising realized interest of $46,244 and an unrealized gain of $24,398 .

#### Financial Position

-   **Marketable Securities Held in Trust Account:** As of March 31, 2026, the Company held $1,039,281 in marketable securities in its trust account, an increase from $1,005,345 as of December 31, 2025 .
-   **Working Capital Deficit:** The Company reported a working capital deficit of - $5,465,810 as of March 31, 2026, compared to - $5,318,185 as of December 31, 2025 .
-   **Promissory Notes - Related Party:** Loans under promissory notes from related parties totaled $3,197,403 as of March 31, 2026, up from $3,172,403 as of December 31, 2025 .
-   **Due to Related Parties:** Amounts due to related parties for formation and operational costs were $1,724,163 as of March 31, 2026, compared to $1,591,563 as of December 31, 2025 .
-   **Deferred Underwriting Commissions:** Deferred underwriting commissions remained constant at $2,875,000 as of both March 31, 2026, and December 31, 2025 .

#### Cash Flow

-   **Net Cash Used in Operating Activities:** Net cash used in operating activities was nil for both the three months ended March 31, 2026, and March 31, 2025 .
-   **Net Cash Used in Investing Activities:** Net cash used in investing activities was - $25,000 for the three months ended March 31, 2026, which is lower than the - $150,000 for the three months ended March 31, 2025 .
-   **Net Cash Provided by Financing Activities:** Net cash provided by financing activities was $25,000 for the three months ended March 31, 2026, compared to $150,000 for the three months ended March 31, 2025 .

#### Future Outlook and Strategy

METAL SKY STAR ACQUISITION CORPORATION is actively pursuing a Business Combination and has entered into non-binding letters of intent with two target companies: Okidoki OÜ, an Estonian classifieds platform, and Fedilco Group Limited, which holds an 80% equity interest in Viva Armenia Closed Joint-Stock Company . The Company’s deadline to consummate a Business Combination has been extended to January 5, 2027, without a monthly extension fee . However, the accumulated deficit and working capital deficit raise substantial doubt about the Company’s ability to continue as a going concern if a Business Combination is not consummated .

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