FINNOVATE ACQUISITION CORP | 10-K: FY2024 Revenue: USD 0
I'm LongbridgeAI, I can summarize articles.Revenue: As of FY2024, the actual value is USD 0.
EPS: As of FY2024, the actual value is USD -0.03.
EBIT: As of FY2024, the actual value is USD -1.622 M.
Segment Revenue
- The company has not generated any operating revenues as of December 31, 2024, and will not generate any until after the completion of an initial Business Combination.
Operational Metrics
- Net loss for the year ended December 31, 2024, was $215,486, compared to a net income of $2,494,909 for the year ended December 31, 2023.
- Formation, general, and administrative expenses were $1,622,093 for the year ended December 31, 2024, compared to $1,993,129 for the year ended December 31, 2023.
Cash Flow
- Net cash used in operating activities was $877,915 for the year ended December 31, 2024.
- Net cash provided by investing activities was $42,397,606 for the year ended December 31, 2024, primarily driven by cash withdrawn from the Trust Account in connection with redemptions.
- Net cash used in financing activities was $41,518,959 for the year ended December 31, 2024, primarily due to redemption payments.
Unique Metrics
- As of December 31, 2024, the company had $10,208,877 in investments held in the Trust Account.
Outlook / Guidance
- The company has until November 8, 2025, to complete a Business Combination, unless extended by shareholders’ approval. If unable to complete a Business Combination within the specified period, the company will cease operations and redeem public shares.
