<span item_type="fundamental" item_id="3ee61eeb68e3b42bf8a21b33d30ac946" counter_id="ST/US/BKHA" env="prod"></span><span item_type="announcement" item_id="573932699637194369" env="prod"></span><p>Revenue: As of FY2025 Q3, the actual value is USD 0.</p><p>EPS: As of FY2025 Q3, the actual value is USD 0.03.</p><p>EBIT: As of FY2025 Q3, the actual value is USD -835.83 K.</p><p></p><h3>Segment Revenue</h3><ul><li>The company has not generated any operating revenues as of August 31, 2025, as 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/2000775/000182912625008277/blackhawk_10q.htm"></span></li></ul><h3>Operational Metrics</h3><ul><li><strong>Net Income</strong>: For the three months ended August 31, 2025, net income was $154,401, compared to $883,767 for the same period in 2024. For the nine months ended August 31, 2025, net income was $1,333,322, compared to $1,164,002 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/2000775/000182912625008277/blackhawk_10q.htm"></span></li><li><strong>General and Administrative Expenses</strong>: For the three months ended August 31, 2025, these expenses were $311,265, compared to $54,903 for the same period in 2024. For the nine months ended August 31, 2025, these expenses were $607,632, compared to $420,863 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/2000775/000182912625008277/blackhawk_10q.htm"></span></li></ul><h3>Cash Flow</h3><ul><li><strong>Net Cash Used in Operating Activities</strong>: For the nine months ended August 31, 2025, net cash used in operating activities was - $549,842, compared to - $494,661 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/2000775/000182912625008277/blackhawk_10q.htm"></span></li><li><strong>Net Cash Provided by (Used in) Investing Activities</strong>: For the nine months ended August 31, 2025, net cash provided by investing activities was $50,560,745, compared to - $69,345,000 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/2000775/000182912625008277/blackhawk_10q.htm"></span></li><li><strong>Net Cash Provided by (Used in) Financing Activities</strong>: For the nine months ended August 31, 2025, net cash used in financing activities was - $50,260,745, compared to $70,038,407 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/2000775/000182912625008277/blackhawk_10q.htm"></span></li></ul><h3>Unique Metrics</h3><ul><li><strong>Interest Income</strong>: For the three months ended August 31, 2025, interest income was $494,562, compared to $968,670 for the same period in 2024. For the nine months ended August 31, 2025, interest income was $2,029,850, compared to $1,638,810 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/2000775/000182912625008277/blackhawk_10q.htm"></span></li></ul><h3>Future Outlook and Strategy</h3><ul><li><strong>Core Business Focus</strong>: The company is focused on completing a business combination with Vesicor Therapeutics, Inc., a biotechnology corporation, by the fourth quarter of 2025. The transaction values Vesicor at a pre-money equity value of $70 million, with existing shareholders rolling over 100% of their equity into the combined company.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2000775/000182912625008277/blackhawk_10q.htm"></span></li><li><strong>Non-Core Business</strong>: The company has extended its business combination deadline to December 22, 2026, with the ability to extend monthly by depositing $150,000 into the Trust Account for each extension.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2000775/000182912625008277/blackhawk_10q.htm"></span></li></ul>

Black Hawk Acquisition | 10-Q: FY2025 Q3 Revenue: USD 0