What changed in this filing

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Item 1. Financial Statements

2023-05-15 compared with 2022-11-14 · 60 added, 66 removed, 155 unchanged (45% of the section changed)

Financial Statements.

Acquisition Corp.

September 30, 2022

Acquisition INC.

March 31, 2023

INDEX TO CONDENSED FINANCIAL STATEMENTS

Index to Condensed Financial Statements

Condensed Balance Sheets as of September 30, 2022 (unaudited) and December 31, 2021

Condensed Statement of Operations for the Three and Nine Months ended September 30, 2022 (unaudited)

Condensed Statements of Changes in Stockholders’ Deficit (Unaudited) for the Nine Months ended September 30, 2022

Condensed Statement of Cash Flows for the Nine Months ended September 30, 2022 (unaudited)

Condensed Balance Sheets as of March 31, 2023 (Unaudited) and December 31, 2022

Statements of Operations (Unaudited) for the Three Months ended March 31, 2023 and 2022

Statements of Changes in Stockholders’ Deficit (Unaudited) for the Three Months ended March 2023 and 2022

Statements of Cash Flows (Unaudited) for the Three Months ended March 31, 2023 and 2022

Notes to Condensed Financial Statements

Acquisition Corp.

Acquisition INC.

CONDENSED BALANCE SHEETS

September 30,

Current assets

17 unchanged sentences

See accompanying notes to condensed financial statements

Acquisition Corp.

Acquisition INC.

CONDENSED STATEMENTS OF OPERATIONS

Three Months Ended

Nine Months Ended

September 30,

the three months ended

General and administrative expenses

Loss from operations

Weighted average common stock outstanding, basic and diluted

Net loss per share of common stock, basic and diluted

Weighted average common stock outstanding, basic and dilutive

Loss per share of common stock, basic and dilutive

See accompanying notes to condensed financial statements

Acquisition Corp.

Acquisition INC.

CONDENSED STATEMENT OF CHANGES IN STOCKHOLDERS’

Three and Nine Months Ended September 30, 2022

Shareholders’

For the Three Months Ended March 31, 2023 and 2022

Stockholders’

Balances – December 31, 2021

Balances – March 31, 2022

Balances – June 30, 2022

Balances – September 30, 2022

Balances - December 31, 2022

Balances – March 31, 2023

See accompanying notes to condensed financial statements

Acquisition Corp.

Acquisition INC.

CONDENSED STATEMENT OF CASH FLOWS

Nine Months Ended September 30, 2022

Nine Months Ended

September 30,

the three months ended

Cash flows from operating activities:

3 unchanged sentences

Cash flows from financing activities:

Proceeds from stockholder advances

Repayments of stockholder advances

Proceeds from note payable - stockholder

4 unchanged sentences

See accompanying notes to condensed financial statements

Acquisition Corp.

Acquisition INC.

NOTES TO CONDENSED FINANCIAL STATEMENTS

September 30, 2022

March 31, 2023

Nature of Operations

13 unchanged sentences

Basis of Presentation

The accompanying unaudited financial statements

have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S.

for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X of the SEC.

information or footnote disclosures normally included in financial statements prepared in accordance with U.S.

GAAP have been condensed

or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting.

Accordingly, they do not include all the

information and footnotes necessary for a compete presentation of financial position, results of operations, or cash flows.

In the opinion

of management, the accompanying unaudited condensed financial statements include all adjustments, consisting of a normal recurring nature,

which are necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented.

The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the

United States of America (“U.S.

GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q

and Article 8 of Regulation S-X of the Securities and Exchange Commission (the “SEC.”).

Certain information or footnote disclosures

normally included in financial statements prepared in accordance with U.S.

GAAP have been condensed or omitted, pursuant to the rules

and regulations of the SEC for interim financial reporting.

Accordingly, they do not include all the information and footnotes necessary

for a compete presentation of financial position, results of operations, or cash flows.

In the opinion of management, the accompanying

unaudited condensed financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair

presentation of the financial position, operating results and cash flows for the periods presented.

Use of Estimates

5 unchanged sentences

Actual results could differ from those estimates.

Cash and Cash Equivalents

Cash and cash equivalents are reported in the

balance sheet at cost, which approximates fair value.

Cash equivalents include all highly liquid investments with an original maturity

of three months or less.

There are no cash equivalents at September 30, 2022 and December 31, 2021.

The Company accounts for income taxes under ASC

15 unchanged sentences

There were no unrecognized tax benefits and no amounts accrued for interest

and penalties as of September 30, 2022 and December 31, 2021.

The Company is currently not aware of any issues under review that could

result in significant payments, accruals or material deviation from its position.

and penalties as of March 31, 2023 and December 31, 2022.

The Company is currently not aware of any issues under review that could result

in significant payments, accruals or material deviation from its position.

Net Loss per Common Share

3 unchanged sentences

instruments, except when doing so would be anti-dilutive.

As of September 30, 2022, there were no dilutive instruments.

As of March 31, 2023 and 2022, there were no dilutive instruments.

Emerging Growth Company

28 unchanged sentences

Preferred Stock

As of September 30, 2022 and December 31, 2021, the Company has 10,000,000

As of March 31, 2023 and December 31, 2022, the Company has 10,000,000

shares of preferred stock, par value of $ 0.0001 , authorized and none issued or outstanding.

As of September 30, 2022 and December 31, 2021, the Company has 50,000,000

shares of common stock, par value of $ 0.0001 , authorized and has issued 5,000,000 shares of its common stock for $ 500 to the founders

of the Company.

As of September 30, 2022 and December 31, 2021,

the Company has approximately $ 10,800 and $ 2,700 , respectively in gross deferred tax assets resulting from net operating loss carry-forwards

As of March 31, 2023 and December 31, 2022, the Company has 50,000,000

shares of common stock, par value of $ 0.0001 , authorized and 5,000,000 shares issued and outstanding.

As of March 31, 2023 and December 31, 2022, the

Company has approximately $ 15,800 and $ 13,100 , respectively in gross deferred tax assets resulting from net operating loss carry-forwards

of $ 75,100 and $ 62,300 , respectively available to offset future taxable income through 2041 subject to the change in ownership provisions

2 unchanged sentences

believes future realization of the related tax benefits is uncertain.

The difference between the tax provision at the

statutory federal income tax rate on September 30, 2022 and December 31, 2021, and the tax provisions attributable to loss before income

taxes is as follows:

September 30,

The difference between the tax provision at

the statutory federal income tax rate on March 31, 2023, and December 31, 2022, and the tax provisions attributable to loss before

income taxes is as follows:

Statutory federal income taxes

6 unchanged sentences

note (the “Note”) to a stockholder of the Company pursuant to which the Company agreed to repay the sum of any and all amounts

advanced to the Company, on or before the date that the Company consummates a business combination with a private company or reverse takeover

transaction or other transaction after which the Company would cease to be a shell company.

the event of an Event of Default, the entire note shall automatically become due and payable (the “Default Date”) and starting

from five (5) days after the Default Date, the interest rate on the note shall accrue at the rate of eighteen percent ( 18 %) per annum.

As of September 30, 2022 and December 31, 2021, the amount due under the note payable was $ 42,005 and $ 12,025 , respectively.

advanced to the Company, on or before the date that the Company consummates a business combination with a private company or reverse

takeover transaction or other transaction after which the Company would cease to be a shell company.

Interest shall not accrue on the outstanding principal amount of the

note except if an Event of Default (as defined in the note) has occurred.

In the event of an Event of Default,

the entire note shall automatically become due and payable (the “Default Date”) and starting from five (5) days after the

Default Date, the interest rate on the note shall accrue at the rate of eighteen percent ( 18 %) per annum.

As of March 31, 2023, and December

31, 2022, the amount due under the note payable was $ 69,525 and $ 52,025 , respectively.

Going Concern

2 unchanged sentences

liabilities in the normal course of business.

The Company has incurred losses from inception

of $ 51,654 and has a stockholders’ deficit of $ 51,154 as of September 30, 2022.

Management believes these conditions raise substantial

doubt about the Company’s ability to continue as a going concern for the twelve months following the date these financial statements

The Company has accumulated deficit and total stockholders' deficit of $ 75,125 and

$ 74,625 , respectively as of March 31, 2023.

Management believes these conditions raise substantial doubt about

the Company’s ability to continue as a going concern for the twelve months following the date these financial statements are issued.

Management intends to finance operations over the next twelve months through additional borrowings from the existing Note.

18 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements