<span item_type="fundamental" item_id="353756cc6b209f1ac76772996c5750eb" counter_id="ST/US/QSEAU" env="prod"></span><span item_type="announcement" item_id="536769887643631745" env="prod"></span><p>EPS: As of FY2025 Q2, the actual value is USD -0.01.</p><p></p><h3>Segment Revenue</h3><ul><li>The company has not generated any operating revenues as of May 31, 2025, since it is a blank check company focused on identifying a target for a business combination.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2047455/000182912625005007/quartzsea_10q.htm"></span></li></ul><h3>Operational Metrics</h3><ul><li><strong>Net Loss</strong>: For the three months ended May 31, 2025, the net loss was $27,147, and for the six months ended May 31, 2025, the net loss was $58,402.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2047455/000182912625005007/quartzsea_10q.htm"></span></li><li><strong>General and Administrative Expenses</strong>: $727,747 for the three months ended May 31, 2025, and $761,251 for the six months ended May 31, 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2047455/000182912625005007/quartzsea_10q.htm"></span></li></ul><h3>Cash Flow</h3><ul><li><strong>Net Cash Used in Operating Activities</strong>: - $621,127 for the six months ended May 31, 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2047455/000182912625005007/quartzsea_10q.htm"></span></li><li><strong>Net Cash Used in Investing Activities</strong>: - $83,400,000 for the six months ended May 31, 2025, primarily due to the purchase of investments held in the Trust Account.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2047455/000182912625005007/quartzsea_10q.htm"></span></li><li><strong>Net Cash Provided by Financing Activities</strong>: $83,759,249 for the six months ended May 31, 2025, mainly from the proceeds of the IPO and private placements.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2047455/000182912625005007/quartzsea_10q.htm"></span></li></ul><h3>Unique Metrics</h3><ul><li><strong>Interest Income</strong>: $700,600 for the three months ended May 31, 2025, and $702,849 for the six months ended May 31, 2025, primarily from investments held in the Trust Account.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2047455/000182912625005007/quartzsea_10q.htm"></span></li></ul><h3>Future Outlook and Strategy</h3><ul><li><strong>Core Business Focus</strong>: The company plans to complete a business combination by June 19, 2026, with a target company, Broadway Technology Inc., for an aggregate consideration of $520,000,000, payable in newly issued shares.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2047455/000182912625005007/quartzsea_10q.htm"></span></li><li><strong>Non-Core Business</strong>: The company has not engaged in any operations or generated revenues and is focused on completing its initial business combination.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2047455/000182912625005007/quartzsea_10q.htm"></span></li></ul>

Quartzsea Acquisition - Unit | 10-Q: FY2025 Q2 EPS: USD -0.01