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Item 1. Financial Statements

2025-08-12 compared with 2025-05-14 · 77 added, 62 removed, 161 unchanged (46% of the section changed)

1 unchanged sentence

Acquisition INC.

March 31, 2025

June 30, 2025

INDEX TO CONDENSED FINANCIAL STATEMENTS

Index to Condensed Financial Statements

Condensed Balance Sheets as of March 31, 2025 (Unaudited) and December 31, 2024

Condensed Statements of Operations (Unaudited) for the Three Months Ended March 31, 2025 and 2024

Condensed Statements of Changes in Stockholders’ Deficit (Unaudited) for the Three Months Ended March 31, 2025 and 2024

Condensed Statements of Cash Flows (Unaudited) for the Three Months Ended March 31, 2025 and 2024

Condensed Balance Sheets as of June 30, 2025 (Unaudited) and December 31, 2024

Condensed Statements of Operations (Unaudited) for the Three and Six Months Ended June 30, 2025 and 2024

Condensed Statements of Changes in Stockholders’ Deficit (Unaudited) for the Three and Six Months Ended June 30, 2025 and 2024

Condensed Statements of Cash Flows (Unaudited) for the Six Months Ended June 30, 2025 and 2024

Notes to Condensed Financial Statements

3 unchanged sentences

Total current assets

LIABILITIES AND STOCKHOLDERS’ DEFICIT

LIABILITIES AND STOCKHOLDERS’

Current liabilities

11 unchanged sentences

Total stockholders’ deficit

Total liabilities and stockholders’ deficit

See accompanying notes to condensed financial statements.

Total liabilities

and stockholders’ deficit

See accompanying notes to condensed financial

Acquisition INC.

1 unchanged sentence

Three Months Ended

General and administrative expenses

Six Months Ended

General and administrative

Loss from operations

Weighted average common stock outstanding, basic and diluted

Loss per share of common stock, basic and diluted

See accompanying notes to condensed financial statements.

Weighted average common stock outstanding,

basic and diluted

Net loss per share

of common stock, basic and diluted

See accompanying notes to condensed financial

Acquisition INC.

CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDERS’

Three Months ended March 31, 2025 and 2024

and Six Months Ended June 30, 2024

Stockholders’

3 unchanged sentences

Balances – March 31, 2024

Balances – June 30, 2024

$ ( 132,703 )

$ ( 132,203 )

Three and Six Months Ended June 30, 2024

Stockholders’

Balances - December 31, 2024

2 unchanged sentences

Balances – March 31, 2025

Balances – June 30, 2025

$ ( 178,798 )

$ ( 178,298 )

See accompanying notes to condensed financial statements.

See accompanying notes to condensed financial

Acquisition INC.

CONDENSED STATEMENT OF CASH FLOWS

Three Months ended

Six Months Ended

Cash flows from operating activities:

Adjustments to reconcile net loss to net cash used in operating activities:

Adjustments to reconcile net loss to net cash used in

operating activities:

Accounts payable and accrued expenses

Net cash used in operating activities

Net cash used

in operating activities

Cash flows from financing activities:

Proceeds from note payable - stockholder

Net cash provided by financing activities

Net cash provided

by financing activities

Net change in cash

1 unchanged sentence

Cash - end of period

See accompanying notes to condensed financial statements.

See accompanying notes to condensed financial

Acquisition INC.

NOTES TO CONDENSED FINANCIAL STATEMENTS

March 31, 2025

June 30, 2025

Nature of Operations

1 unchanged sentence

was incorporated in the State of Delaware on December 10, 2021.

The Company’s management has chosen December 31st for its fiscal

The Company’s management has chosen December 31st for its

fiscal year end.

The Company was organized as a vehicle to investigate

4 unchanged sentences

or geographical location.

The analysis of business opportunities will be undertaken by, or under the supervision of, the officer and directors

of the Company.

Basis of Presentation and Summary

of Significant Accounting Policies

The analysis of business opportunities will be undertaken by, or under the supervision of, the officer and

directors of the Company.

Basis of Presentation and

Summary of Significant Accounting Policies

Basis of Presentation

9 unchanged sentences

In the opinion of management, the accompanying unaudited condensed financial statements reflect

all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the Company’s financial position,

results of operations, and cash flows for the periods presented.

These interim financial statements should be read in conjunction with

the audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December

all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the Company’s financial

position, results of operations, and cash flows for the periods presented.

These interim financial statements should be read in conjunction

with the audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended

December 31, 2024.

The Company applies ASC 280, Segment Reporting,

5 unchanged sentences

in conformity with U.S.

GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts

of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported

amounts of revenues and expenses during the reporting period.

GAAP requires the Company’s management to make estimates and assumptions that affect the reported

amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the

reported amounts of revenues and expenses during the reporting period.

Actual results could differ from those estimates.

11 unchanged sentences

Deferred tax assets are reduced

by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets

will not be realized.

by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax

assets will not be realized.

The Company recognizes accrued interest and penalties

1 unchanged sentence

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

and penalties as of March 31, 2025 and December 31, 2024.

and penalties as of June 30, 2025 and December 31, 2024.

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, 2025 and 2024, there were no dilutive instruments.

As of June 30, 2025 and 2024, there were no dilutive instruments.

Emerging Growth Company

26 unchanged sentences

Income Taxes (Topic 740):

Improvements to Income Tax Disclosures (“ASU 2023-09”), which will require the Company to disclose

specified additional information in its income tax rate reconciliation and provide additional information for reconciling items that meet

a quantitative threshold.

ASU 2023-09 will also require the Company to disaggregate its income taxes paid disclosure by federal, state

and foreign taxes, with further disaggregation required for significant individual jurisdictions.

ASU 2023-09 will become effective for

Annual periods beginning after December 15, 2024.

Improvements to Income Tax Disclosures (“ASU 2023-09”), which will require the Company to

disclose specified additional information in its income tax rate reconciliation and provide additional information for reconciling items

that meet a quantitative threshold.

ASU 2023-09 will also require the Company to disaggregate its income taxes paid disclosure by federal,

state and foreign taxes, with further disaggregation required for significant individual jurisdictions.

ASU 2023-09 will become effective

for Annual periods beginning after December 15, 2024.

The Company is still reviewing the impact of ASU 2023-09.

1 unchanged sentence

Segment Reporting (Topic 280):

Improvements to Reportable Segment Disclosures (“ASU 2023-07”), which will

require the Company to disclose significant segment expenses and other segment items on both an annual and interim basis, as

reviewed by the Chief Operating Decision Maker (CODM).

Improvements to Reportable Segment Disclosures (“ASU 2023-07”) , which will require

the Company to disclose significant segment expenses and other segment items on both an annual and interim basis, as reviewed by the

Chief Operating Decision Maker (CODM).

The Company adopted ASU 2023-07 effective January 1, 2025.

3 unchanged sentences

Preferred Stock

As of March 31, 2025 and December 31, 2024, the

As of June 30, 2025 and December 31, 2024, 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, 2025 and December 31, 2024, the

As of June 30, 2025 and December 31, 2024, 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, 2025 and December 31, 2024, the

As of June 30, 2025 and December 31, 2024, the

Company has approximately $ 37,500 and $ 32,500 , respectively in gross deferred tax assets resulting from net operating loss carry-forwards

4 unchanged sentences

The difference between the tax provision at the

statutory federal income tax rate on March 31, 2025, and December 31, 2024, and the tax provisions attributable to loss before income

statutory federal income tax rate on June 30, 2025, and December 31, 2024, and the tax provisions attributable to loss before income

taxes is as follows:

7 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.

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, 2025, and December 31, 2024, the amount due under the note payable was $ 147,025 .

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 June 30, 2025,

and December 31, 2024, the amount due under the note payable was $ 172,025 and $ 147,025 , respectively.

Going Concern

The accompanying financial statements have been

prepared assuming the Company will continue as a going concern, which contemplates the recoverability of assets and the satisfaction of

liabilities in the normal course of business.

prepared assuming the Company will continue as a going concern, which contemplates the recoverability of assets and the satisfaction

of liabilities in the normal course of business.

The Company has accumulated deficit and total

stockholders’ deficit of $ 166,024 and $ 165,524 , respectively as of March 31, 2025.

stockholders’ deficit of $ 178,798 and $ 178,298 , respectively as of June 30, 2025.

Management believes these conditions raise substantial

1 unchanged sentence

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

The accompanying financial statements do not include

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

The accompanying financial statements do not

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

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