EPS: As of FY2025 Q2, the actual value is USD 0.07.

Segment Revenue

• The company has not generated any operating revenues to date and does not expect to generate any until after the completion of its initial business combination.

Operational Metrics

• For the three months ended June 30, 2025, the company reported a net income of $778,024, which consisted of interest and dividends earned on investments held in the trust account of $904,628 and interest income of $776, partially offset by formation and operating costs of $127,380.
• For the three months ended June 30, 2024, the company reported a net loss of $15,833, which consisted of formation and operating costs of $15,833.
• For the six months ended June 30, 2025, the company reported a net income of $1,509,281, which consisted of interest and dividends earned on investments held in the trust account of $1,803,830 and interest income of $3,083, partially offset by formation and operating costs of $297,632.
• For the period from March 22, 2024 (inception) through June 30, 2024, the company reported a net loss of $15,853, which consisted of formation and operating costs of $15,853.

Cash Flow

• As of June 30, 2025, the company had cash of $48,631 and working capital of $112,601.
• For the six months ended June 30, 2025, there was $398,788 of cash used in operating activities resulting from dividend earned on investments held in the trust account of $1,803,830, the increase in prepaid expenses of $60,547, the decrease in accounts payable and accrued expenses of $31,192, and the decrease in due to related parties of $12,500. The changes were offset by net income of $1,509,281.
• For the period from March 22, 2024 (inception) through June 30, 2024, there was $0 of cash used in or provided by operating activities.

Unique Metrics

• The company has not commenced any operations and its efforts have been limited to organizational activities, activities related to the initial public offering (IPO), and the search for a target for business combination.

Future Outlook and Strategy

Core Business Focus

• The company intends to effectuate its business combination using cash from the proceeds of its IPO and the sale of its shares, debt, or a combination of cash, equity, and debt.
• The company expects to continue to incur significant costs in the pursuit of its acquisition plans and cannot assure that its plans to complete a business combination will be successful.

Non-Core Business

• The company has no obligations, assets, or liabilities that would be considered off-balance sheet arrangements as of June 30, 2025.
• The company has not entered into any off-balance sheet financing arrangements, established any special purpose entities, guaranteed any debt or commitments of other entities, or purchased any non-financial assets.

Priority

• The company’s liquidity needs up to June 30, 2025, have been satisfied through a payment from the sponsor of $25,000 for the founder shares to cover certain offering costs and the proceeds from the public offering and private placements.
• The company intends to use the funds held outside the trust account to primarily identify and evaluate target businesses, perform business due diligence on prospective target businesses, travel to and from the offices, plants, or similar locations of prospective target businesses or their representatives or owners, review corporate documents and material agreements of prospective target businesses, structure, negotiate, and complete an initial business combination.