<span item_type="fundamental" item_id="bc51a8cd450ae48f02b8c3e4161ad894" counter_id="ST/US/JWSWF" env="prod"></span><span item_type="announcement" item_id="516471089253648129" env="prod"></span><p>EPS: As of FY2025 Q1, the actual value is USD -0.02.</p><p></p><h3>Segment Revenue</h3><ul><li>The company has not commenced any operations and does not expect to generate operating revenues until after the completion of a Business Combination.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1831359/000141057825001335/jwsm-20250331x10q.htm"></span></li></ul><h3>Operational Metrics</h3><ul><li><strong>Net Loss</strong>: For the three months ended March 31, 2025, the net loss was $507,977, compared to a net loss of $7,159,904 for the same period in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1831359/000141057825001335/jwsm-20250331x10q.htm"></span></li><li><strong>General and Administrative Expenses</strong>: $142,551 for the three months ended March 31, 2025, compared to $633,880 for the same period in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1831359/000141057825001335/jwsm-20250331x10q.htm"></span></li><li><strong>Change in Fair Value of Warrant Liabilities</strong>: - $372,250 for the three months ended March 31, 2025, compared to - $6,700,500 for the same period in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1831359/000141057825001335/jwsm-20250331x10q.htm"></span></li></ul><h3>Cash Flow</h3><ul><li><strong>Net Cash Used in Operating Activities</strong>: - $165,902 for the three months ended March 31, 2025, compared to - $237,647 for the same period in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1831359/000141057825001335/jwsm-20250331x10q.htm"></span></li><li><strong>Cash Held in Trust Account</strong>: $1,042,177 as of March 31, 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1831359/000141057825001335/jwsm-20250331x10q.htm"></span></li></ul><h3>Unique Metrics</h3><ul><li><strong>Interest Earned on Trust Account</strong>: $6,824 for the three months ended March 31, 2025, compared to $174,476 for the same period in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1831359/000141057825001335/jwsm-20250331x10q.htm"></span></li></ul><h3>Future Outlook and Strategy</h3><ul><li><strong>Core Business Focus</strong>: The company intends to effectuate a Business Combination using cash derived from the proceeds of the IPO and the sale of private placement warrants, shares, debt, or a combination thereof.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1831359/000141057825001335/jwsm-20250331x10q.htm"></span></li><li><strong>Non-Core Business</strong>: The company has extended the termination date for consummating a business combination multiple times, with the latest extension allowing up to twenty-three monthly extensions until December 4, 2026.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1831359/000141057825001335/jwsm-20250331x10q.htm"></span></li><li><strong>Priority</strong>: Management intends to complete a Business Combination prior to the mandatory liquidation date of December 4, 2026.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1831359/000141057825001335/jwsm-20250331x10q.htm"></span></li></ul>

JAWS MUSTANG ACQUISITION CORP C/WTS 30/01/2026 (TO PUR COM) | 10-Q: FY2025 Q1 EPS: USD -0.02