What changed in this filing

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Item 1. Financial Statements

2023-08-10 compared with 2023-05-15 · 60 added, 71 removed, 144 unchanged (48% of the section changed)

1 unchanged sentence

Acquisition INC.

March 31, 2023

INDEX TO CONDENSED FINANCIAL STATEMENTS

June 30, 2023

INDEX TO CONDENSED FINANCIAL STATEMENTS

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

Index to Condensed Financial

Condensed Balance Sheets as of

June 30, 2023 (Unaudited) and December 31, 2022,

Condensed Statements of Operations

(Unaudited) for the Three and Six Months ended June 30, 2023, and 2022

Condensed Statements of Changes

in Stockholders’ Deficit (Unaudited) for the Three and Six Months ended June 30, 2023 and 2022

Condensed Statements of Cash

Flows (Unaudited) for the Six Months ended June 30, 2023, and 2022

Notes to Condensed Financial

Acquisition INC.

21 unchanged sentences

CONDENSED STATEMENTS OF OPERATIONS

the three months ended

Three Months Ended

Six Months Ended

General and administrative expenses

Loss from operations

Weighted average common stock outstanding, basic and dilutive

Loss per share of common stock, basic and dilutive

Weighted average common stock outstanding, basic and diluted

Net loss per share of common stock, basic and diluted

See accompanying notes to condensed financial statements.

Acquisition INC.

CONDENSED STATEMENT OF CHANGES IN STOCKHOLDERS’

For the Three Months Ended March 31, 2023 and 2022

CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDERS’

For the Three and Six Months Ended June 30, 2022

Stockholders’

1 unchanged sentence

Balances – March 31, 2022

Balances – June 30, 2022

For the Three and Six Months Ended June 30, 2023

Stockholders’

Balances - December 31, 2022

Balances – March 31, 2023

Balances – June 30, 2023

See accompanying notes to condensed financial statements

Acquisition INC.

CONDENSED STATEMENT OF CASH FLOWS

the three months ended

CONDENSED STATEMENTS OF CASH FLOWS

Six Months Ended

Cash flows from operating activities:

1 unchanged sentence

Accounts payable and accrued expenses

Net cash used in operating activities

cash used in operating activities

Cash flows from financing activities:

Proceeds from stockholder advances

Repayments of stockholder advances

Proceeds from note payable - stockholder

Net cash provided by financing activities

cash provided by financing activities

Net change in cash

4 unchanged sentences

NOTES TO CONDENSED FINANCIAL STATEMENTS

March 31, 2023

June 30, 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.

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.

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 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

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

22 unchanged sentences

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

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

and penalties as of June 30, 2023, and December 31, 2022.

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

5 unchanged sentences

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

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

As of June 30, 2023, and 2022, there were no dilutive instruments.

Emerging Growth Company

5 unchanged sentences

compensation in the Company’s periodic reports and proxy statements, and exemptions from the requirements of holding a non-binding

advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved.

advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved.

If some investors

20 unchanged sentences

Preferred Stock

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 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

As of June 30, 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 June 30, 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 June 30, 2023, and December 31, 2022, the

Company has approximately $ 18,500 and $ 13,100 , respectively in gross deferred tax assets resulting from net operating loss carry-forwards

3 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 March 31, 2023, and December 31, 2022, and the tax provisions attributable to loss before

income taxes is as follows:

The difference between the tax provision at the

statutory federal income tax rate on June 30, 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.

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.

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.

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 June 30, 2023, and December 31, 2022, the amount due under the note payable was $ 79,525 and $ 52,025 , respectively.

Going Concern

2 unchanged sentences

liabilities in the normal course of business.

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.

The Company has accumulated deficit and total

stockholders’ deficit of $ 87,962 and $ 87,462 , respectively, as of June 30, 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

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

1 unchanged sentence

any adjustments that might be required should the Company be unable to continue as a going concern.

On March 11, 2020, the World Health Organization

officially declared the outbreak of the novel coronavirus COVID-19 a “pandemic.” A significant outbreak of COVID-19 and other

infectious diseases has resulted in a widespread health crisis that has significantly adversely affected businesses of all types, economies

and financial markets worldwide.

The business of any potential target company with which the Company consummates a business combination

could be materially and adversely affected.

Furthermore, the Company may be unable to complete a business combination if continued concerns

relating to COVID-19 restrict travel, limit the ability to have meetings with potential investors or the target company’s personnel,

vendors and services providers are unavailable to negotiate and consummate a transaction in a timely manner.

The extent to which COVID-19

impacts our search for a business combination will depend on future developments, which are highly uncertain and cannot be predicted,

including new information which may emerge concerning the severity of COVID-19 and the actions to contain COVID-19 or treat its impact,

among others.

If the disruptions posed by COVID-19 or other matters of global concern continue for an extended period of time, the Company’s

ability to consummate a business combination, or the operations of a target business with which the Company ultimately consummates a business

combination, may be materially adversely affected.

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