What changed in this filing

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Item 1. Financial Statements

2025-08-14 compared with 2025-05-15 · 226 added, 152 removed, 470 unchanged (45% of the section changed)

FINANCIAL STATEMENTS

AIFEEX NEXUS ACQUISITION CORPORATION

PANTAGES CAPITAL ACQUISITION CORPORATION

(FORMERLY KNOWN AS AIFEEX NEXUS ACQUISITION

BALANCE SHEETS

Current Assets

6 unchanged sentences

Due to related parties

Working capital loan - related party

Total Current Liabilities

2 unchanged sentences

Commitments and Contingencies

Class A ordinary shares subject to possible redemption, 8,625,000 shares at conversion value of $ 10.14 and $ 10.03 per share as of March 31, 2025 and December 31, 2024, respectively

Class A ordinary shares subject to possible redemption, 8,625,000 shares at conversion value of $ 10.24 and $ 10.03 per share as of June 30, 2025 and December 31, 2024, respectively

Shareholders’ Deficit:

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Total Liabilities, Ordinary Shares Subject to Possible Redemptions and Shareholder’s Deficit

The accompanying notes are an integral part of these unaudited financial statements.

AIFEEX NEXUS ACQUISITION CORPORATION

OF OPERATIONS

The accompanying notes are an integral part of these unaudited

financial statements.

PANTAGES CAPITAL ACQUISITION CORPORATION

(FORMERLY KNOWN AS AIFEEX NEXUS ACQUISITION

STATEMENTS OF OPERATIONS

Formation and operating costs

1 unchanged sentence

Interest and dividend income on cash and investments held in Trust Account

Net income (Loss)

Basic and diluted weighted average shares outstanding, Class A ordinary shares subject to possible redemption

1 unchanged sentence

Basic and diluted weighted average shares outstanding, non-redeemable Class A and Class B ordinary shares

Basic and diluted net income per share, non-redeemable Class A and Class B ordinary shares

The accompanying notes are an integral part of these unaudited financial statements.

AIFEEX NEXUS ACQUISITION CORPORATION

OF CHANGES IN SHAREHOLDERS’ DEFICIT

FOR THE THREE MONTHS

ENDED MARCH 31, 2025

1,875,000 (1)(2)

Basic and diluted net income (loss) per share, non-redeemable Class A and Class B ordinary shares

(1) This number excludes an aggregate of up to 281,250 Class B ordinary

shares subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriters.

On December 6, 2024,

the underwriters fully exercised the over-allotment option for an additional 1,125,000 Units, reducing the Class B ordinary shares subject

to forfeiture to 0 (see Note 5).

(2) Gives retroactive effect to additional 431,250 shares issue

to the Sponsor at par value on July 5, 2024.

The accompanying notes are an integral part of these unaudited

financial statements.

PANTAGES CAPITAL ACQUISITION CORPORATION

(FORMERLY KNOWN AS AIFEEX NEXUS ACQUISITION CORPORATION)

STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (DEFICIT)

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2025 AND FOR

THE PERIOD FROM MAY 31, 2024 (INCEPTION)

THROUGH JUNE 30, 2024

Ordinary Shares

Shareholders’

as of December 31, 2024

Balance as of December 31, 2024

$ ( 361,860 )

$ ( 361,620 )

Remeasurement

of carrying value to redemption value

as of March 31, 2025

Remeasurement of carrying value to redemption value

Balance as of March 31, 2025

Remeasurement of carrying value to redemption value

Balance as of June 30, 2025

$ ( 755,335 )

$ ( 755,095 )

The accompanying notes are an integral part of these unaudited financial statements.

AIFEEX NEXUS ACQUISITION CORPORATION

OF CASH FLOWS

Ordinary Shares

Shareholders’

Balance as of May 31, 2024 (inception)

Founder shares issued to initial shareholders (1)

Additional shares issued to Founder (2)

Balance as of June 30, 2024

(1) This number includes an aggregate of up to 281,250 Class B ordinary

shares subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriters.

On December 6, 2024,

the underwriters fully exercised the over-allotment option for an additional 1,125,000 Units, reducing the Class B ordinary shares subject

to forfeiture to 0 (see Note 5).

(2) Gives retroactive effect to additional 431,250 shares issue

to the Sponsor at par value on July 5, 2024.

The accompanying notes are an integral part of these unaudited

financial statements.

PANTAGES CAPITAL ACQUISITION CORPORATION

(FORMERLY KNOWN AS AIFEEX NEXUS ACQUISITION

STATEMENTS OF CASH FLOWS

Cash Flows from Operating Activities:

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

Net income (loss)

Adjustments to reconcile net income (loss) to net cash used in operating

Interest and dividend earned on cash and investments held in Trust Account

( 1,797,542 )

Formation and operating cost paid by the Sponsor

Changes in operating assets and liabilities:

3 unchanged sentences

Net Cash Used in Operating Activities

Cash Flows from Financing Activity:

Proceeds from working capital loan - related party

Net Cash Provided by Financing Activity

Net Change in Cash

2 unchanged sentences

Supplemental Disclosure of Non Cash Financing Activities:

Issuance of shares for receivable

Prepaid expenses paid via promissory note - related party

Deferred offering costs included in accrued offering costs

Deferred offering costs paid by shareholders in exchange for issuance of Class B ordinary shares

Deferred offering costs paid via promissory note - related party

Remeasurement of carrying value to redemption value

The accompanying notes are an integral part of these unaudited financial statements.

AIFEEX NEXUS ACQUISITION CORPORATION

The accompanying notes are an integral part of these

unaudited financial statements.

PANTAGES CAPITAL ACQUISITION CORPORATION

(FORMERLY KNOWN AS AIFEEX NEXUS ACQUISITION

NOTES TO UNAUDITED FINANCIAL STATEMENTS

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Business Operation and Going Concern Consideration

Aifeex Nexus Acquisition Corporation (the “Company”,

formerly known as “Shepherd Ave Capital Acquisition Corporation”) is a blank check company incorporated in the Cayman Islands

on May 31, 2024 as an exempted company with limited liability.

The Company was formed for the purpose of effecting a merger, share

exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination involving the Company, with

one or more businesses or entities (the “initial business combination”).

The Company’s efforts to identify a prospective

target business will not be limited to a particular industry or geographic location.

The Company has elected December 31 as its fiscal

As of March 31, 2025, the Company had not commenced

Pantages Capital Acquisition Corporation (the

“Company”, formerly known as “Aifeex Nexus Acquisition Corporation” and “Shepherd Ave Capital Acquisition

Corporation”) is a blank check company incorporated in the Cayman Islands on May 31, 2024 as an exempted company with limited

The Company was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization,

reorganization or similar business combination involving the Company, with one or more businesses or entities (the “initial business

combination”).

The Company’s efforts to identify a prospective target business will not be limited to a particular industry

or geographic location.

The Company has elected December 31 as its fiscal year end.

As of June 30, 2025, the Company had not commenced

any operations.

For the three months ended March 31, 2025, the Company’s efforts have been limited to organizational activities,

activities related to the initial public offering (“IPO”, see Note 3), and search for target for business combination.

The Company will not generate any operating revenues until after the completion of an initial business combination, at the earliest.

Company will generate non-operating income in the form of dividend and/or interest income from the proceeds derived from the IPO and Private

Placement (“Private Placement”, see Note 4).

For the period from May 31, 2024 (inception) through June 30, 2025, the Company’s efforts have been limited to organizational

activities, activities related to the initial public offering (“IPO”, see Note 3), and search for target for business

The Company will not generate any operating revenues until after the completion of an initial business combination, at the

The Company will generate non-operating income in the form of dividend and/or interest income from the proceeds derived from

the IPO and Private Placement (“Private Placement”, see Note 4).

The Company’s management has broad discretion

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must occur with one or more target businesses that together have an aggregate fair market value of at least 80 % of the value of the Trust

Account (excluding any deferred underwriters’ fees and taxes payable on the income earned on the Trust Account) at the time of

the agreement to enter into the initial business combination.

The Company will complete its initial business combination only if the

post-transaction company in which its public shareholders own shares will own or acquire 50 % or more of the outstanding voting securities

of the target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment

company under the Investment Company Act of 1940, as amended (the “Investment Company Act”).

There is no assurance that the

Company will be able to complete an initial business combination successfully.

Account (excluding any deferred underwriters’ fees and taxes payable on the income earned on the Trust Account) at the time of the

agreement to enter into the initial business combination.

The Company will complete its initial business combination only if the post-transaction

company in which its public shareholders own shares will own or acquire 50 % or more of the outstanding voting securities of the target

or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment company under

the Investment Company Act of 1940, as amended (the “Investment Company Act”).

There is no assurance that the Company will

be able to complete an initial business combination successfully.

Upon the closing of the IPO, management has agreed

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and to waive their redemption rights with respect to their founder shares, private shares, and public shares in connection with a shareholder

vote to approve an amendment to the Company’s amended and restated articles of association (A) to modify the substance or timing

of our obligation to allow redemption in connection with the initial business combination or to redeem 100 % of the public shares if the

Company does not complete its initial business combination within 15 months from the closing of this offering (or up to 18 months,

vote to approve an amendment to the Company’s amended and restated articles of association (A) to modify the substance or

timing of our obligation to allow redemption in connection with the initial business combination or to redeem 100 % of the public shares

if the Company does not complete its initial business combination within 15 months from the closing of this offering (or up to 18 months,

if extended) or (B) with respect to any other provision relating to shareholders’ rights or pre-initial business combination

The Sponsor has agreed that it will be liable

to the Company if and to the extent any claims by a third party for services rendered or products sold to the Company, or a prospective

target business with which the Company has entered into a written letter of intent, confidentiality or similar agreement or business combination

agreement, reduce the amount of funds in the Trust Account to below the lesser of (i) $ 10.00 per public share and (ii) the actual

amount per public share held in the Trust Account as of the date of the liquidation of the Trust Account, if less than $ 10.00 per share

due to reductions in the value of the trust assets, less taxes payable, provided that such liability will not apply to any claims by a

third party or prospective target business who executed a waiver of any and all rights to the monies held in the Trust Account (whether

or not such waiver is enforceable) nor will it apply to any claims under the Company’s indemnity of the underwriters of this offering

against certain liabilities, including liabilities under the Securities Act.

However, the Company has not asked the Sponsor to reserve

for such indemnification obligations, nor have the Company independently verified whether the Company’s Sponsor has sufficient funds

to satisfy its indemnity obligations and believe that the Sponsor’s only assets are securities of the company.

Therefore, it cannot

be assured that that the Sponsor would be able to satisfy those obligations.

None of the officers or directors will indemnify the Company

for claims by third parties including, without limitation, claims by vendors and prospective target businesses.

The Sponsor has agreed that it will be liable to the Company if and

to the extent any claims by a third party for services rendered or products sold to the Company, or a prospective target business with

which the Company has entered into a written letter of intent, confidentiality or similar agreement or business combination agreement,

reduce the amount of funds in the Trust Account to below the lesser of (i) $ 10.00 per public share and (ii) the actual amount

per public share held in the Trust Account as of the date of the liquidation of the Trust Account, if less than $ 10.00 per share due to

reductions in the value of the trust assets, less taxes payable, provided that such liability will not apply to any claims by a third

party or prospective target business who executed a waiver of any and all rights to the monies held in the Trust Account (whether or not

such waiver is enforceable) nor will it apply to any claims under the Company’s indemnity of the underwriters of this offering against

certain liabilities, including liabilities under the Securities Act.

However, the Company has not asked the Sponsor to reserve for such

indemnification obligations, nor have the Company independently verified whether the Company’s Sponsor has sufficient funds to satisfy

its indemnity obligations and believe that the Sponsor’s only assets are securities of the company.

Therefore, it cannot be assured

that the Sponsor would be able to satisfy those obligations.

None of the officers or directors will indemnify the Company for claims by

third parties including, without limitation, claims by vendors and prospective target businesses.

Going Concern Consideration

As of March 31, 2025, the Company had $ 273,472

As of June 30, 2025, the Company had $ 294,644

cash and a working capital of $ 107,405 .

1 unchanged sentence

and to incur significant transaction costs in pursuit of the consummation of an initial business combination.

In connection with the Company’s

assessment of going concern considerations in accordance with the Financial Accounting Standards Board (“FASB”) Accounting

Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going

Concern,” management has determined that these conditions raise substantial doubt about the Company’s ability to continue

as a going concern.

Management’s plan in addressing this uncertainty is through the borrowing of Working Capital Loans, as defined

below (see Note 5).

In addition, if the Company is unable to complete an initial business combination within the Combination Period by

March 6, 2026, unless further extended, the Company’s board of directors would proceed to commence a voluntary liquidation and thereby

a formal dissolution of the Company.

There is no assurance that the Company’s plans to consummate an initial business combination

will be successful within the Combination Period.

As a result, management has determined that such additional condition also raise substantial

doubt about the Company’s ability to continue as a going concern within one year after the date that the unaudited financial statements

The unaudited financial statement does not include any adjustments that might result from the outcome of this uncertainty.

In connection with the

Company’s assessment of going concern considerations in accordance with the Financial Accounting Standards Board (“FASB”)

Accounting Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue

as a Going Concern,” management has determined that these conditions raise substantial doubt about the Company’s ability

to continue as a going concern.

Management’s plan in addressing this uncertainty is through the borrowing of Working Capital Loans,

as defined below (see Note 5).

In addition, if the Company is unable to complete an initial business combination within the Combination

Period by March 6, 2026, unless further extended, the Company’s board of directors would proceed to commence a voluntary liquidation

and thereby a formal dissolution of the Company.

There is no assurance that the Company’s plans to consummate an initial business

combination will be successful within the Combination Period.

As a result, management has determined that such additional condition also

raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the unaudited

financial statements are issued.

The unaudited financial statement does not include any adjustments that might result from the outcome

of this uncertainty.

Risks and Uncertainties

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do not include any adjustments that might result from the outcome of this uncertainty.

Note 2 — Significant Accounting

Note 2 — Significant Accounting Policies

Basis of Presentation

The accompanying unaudited financial statements are presented in conformity

with accounting principles generally accepted in the United States of America (“US GAAP”) and pursuant to the rules and

regulations of the SEC.

The interim financial information provided is unaudited but includes all adjustments which management considers

necessary for the fair presentation of the results for the period.

The information included in this Form 10-Q should be read in conjunction

with information included in the Company’s annual report on Form 10-K for the year ended December 31, 2024, filed with the SEC on

March 27, 2025.

Operating results for the interim period ended March 31, 2025 are not necessarily indicative of the results that may be

expected for the fiscal year ending December 31, 2025.

The accompanying unaudited financial statements

are presented in conformity with accounting principles generally accepted in the United States of America (“US GAAP”)

and pursuant to the rules and regulations of the SEC.

The interim financial information provided is unaudited but includes all

adjustments which management considers necessary for the fair presentation of the results for the period.

The information included in

this Form 10-Q should be read in conjunction with information included in the Company’s annual report on Form 10-K for the year

ended December 31, 2024, filed with the SEC on March 27, 2025.

Operating results for the interim period ended June 30, 2025 are not necessarily

indicative of the results that may be expected for the fiscal year ending December 31, 2025.

Emerging Growth Company Status

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The Company had $ 294,644 and $ 533,006 cash

in bank as of March 31, 2025 and December 31, 2024, respectively.

in bank as of June 30, 2025 and December 31, 2024, respectively.

Cash and Investments Held in Trust Account

31, 2025 and December 31 , 2024, the Company had $ 87,415,481 and $ 86,518,878 in Cash and

investments held in Trust Account, which are invested in money market funds which

invest in U.S.

30, 2025 and December 31 , 2024, the Company had $ 88,316,420 and $ 86,518,878 in Cash and investments

held in Trust Account, which are invested in money market funds which invest in U.S.

Treasury securities .

Concentration of Credit Risk

instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial

institution, which, at times, may exceed the Federal Depository Insurance Coverage (“FDIC”) of $ 250,000 .

As of March 31,

2025 and December 31, 2024, $ 23,472 and $ 283,006 , respectively, were over

the FDIC limit.

instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution,

which, at times, may exceed the Federal Depository Insurance Coverage (“FDIC”) of $ 250,000 .

As of June 30, 2025 and December

31, 2024, $ 44,644 and $ 283,006 , respectively, were over the FDIC limit.

The Company has not experienced losses on these accounts.

12 unchanged sentences

ordinary shares is excluded from income per share as the redemption value approximates fair value.

For the three months ended March 31,

2025, the Company has not considered the effect of the Rights included in the IPO and Private Placement Units in the calculation of diluted

net income per share, since the conversion of the Rights is contingent upon the occurrence of future events and the inclusion of such

Rights would be anti-dilutive and the Company did not have any other dilutive securities and other contracts that could, potentially,

For the three and six months ended

June 30, 2025, the Company has not considered the effect of the Rights included in the IPO and Private Placement Units in the calculation

of diluted net income per share, since the conversion of the Rights is contingent upon the occurrence of future events and the inclusion

of such Rights would be anti-dilutive and the Company did not have any other dilutive securities and other contracts that could, potentially,

be exercised or converted into ordinary shares and then share in the earnings of the Company.

1 unchanged sentence

the same as basic income per share for the period presented.

March 31, 2025

For The Three Months Ended

June 30, 2025

Non-Redeemable

Class A and Class B

Ordinary Shares

5 unchanged sentences

Basic and diluted net income per ordinary share

For The Period From

For The Six Months Ended

(Inception) Through

June 30, 2025

June 30, 2024

Non-Redeemable

Basic and diluted net income (loss) per ordinary share:

Allocation of net income (loss)

Denominators:

Basic and diluted weighted average shares outstanding

Basic and diluted net income (loss) per ordinary share

Fair Value of Financial Instruments

14 unchanged sentences

the asset or liability and are to be developed based on the best information available in the circumstances.

1 — Assets and liabilities with unadjusted, quoted prices listed on active market exchanges.

Inputs to the fair value measurement

are observable inputs, such as quoted prices in active markets for identical assets or liabilities.

2 — Inputs to the fair value measurement are determined using prices for recently traded assets and liabilities with similar underlying

terms, as well as direct or indirect observable inputs, such as interest rates and yield curves that are observable at commonly quoted

3 — Inputs to the fair value measurement are unobservable inputs, such as estimates, assumptions, and valuation techniques when

little or no market data exists for the assets or liabilities.

The following

table presents information about the Company’s assets that are measured at fair value on March 31, 2025 and December 31, 2024 and

indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value.

March 31, 2025

Level 1 — Assets and liabilities with unadjusted, quoted prices listed on active market exchanges.

Inputs to the fair value measurement are observable inputs, such as quoted prices in active markets for identical assets or liabilities.

Level 2 — Inputs to the fair value measurement are determined using prices for recently traded assets and liabilities with similar underlying terms, as well as direct or indirect observable inputs, such as interest rates and yield curves that are observable at commonly quoted intervals.

Level 3 — Inputs to the fair value measurement are unobservable inputs, such as estimates, assumptions, and valuation techniques when little or no market data exists for the assets or liabilities.

The following table presents information about

the Company’s assets that are measured at fair value on June 30, 2025 and December 31, 2024 and indicates the fair value hierarchy

of the valuation inputs the Company utilized to determine such fair value.

June 30, 2025

Cash and Investments held in Trust Account

28 unchanged sentences

to equal the redemption value at the end of each reporting period.

As of March 31, 2025 and December 31, 2024, the Class A ordinary shares

subject to possible redemption reflected in the balance sheets are reconciled in the following table:

Class A ordinary

shares subject to

possible redemption

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

Class A ordinary shares subject to possible redemption reflected in the balance sheets are reconciled in the following table:

Balance as of May 31, 2024 (Inception)

8 unchanged sentences

Remeasurement of carrying value to redemption value

Balance as of March 31, 2025

Balance as of June 30, 2025

The Company accounts for income taxes under ASC 740,

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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

44 unchanged sentences

In total, an aggregate 2,156,250 Class B ordinary shares were issued to the Sponsor and executives, at a per-share

price of approximately $ 0.012 per share.

price of approximately $ 0.012 per share, including an aggregate of up to 281,250 Class B ordinary shares subject to forfeiture if the

over-allotment option is not exercised in full or in part by the underwriters.

On December 6, 2024, the underwriters fully exercised the

over-allotment option for an additional 1,125,000 Units, reducing the Class B ordinary shares subject to forfeiture to 0 .

Concurrent with the IPO, the sponsor transferred

36 unchanged sentences

Promissory Note — Related Party

June 14, 2024, the sponsor has agreed to loan the Company up to $ 500,000 (the “Promissory Note”) to be used for a

portion of the expenses of the IPO.

Immediately before the IPO, the Company had an outstanding loan balance of $ 295,019 and the

balance was repaid.

There is no balance as of March 31, 2025 and December 31, 2024.

Working Capital Loans

On June 14, 2024, the sponsor has agreed to loan

the Company up to $ 500,000 (the “Promissory Note”) to be used for a portion of the expenses of the IPO.

Immediately before

the IPO, the Company had an outstanding loan balance of $ 295,019 and the balance was repaid.

There is no balance as of June 30, 2025 and

December 31, 2024.

Working Capital Loans — Related

In addition, in order to meet the Company’s

9 unchanged sentences

complete an initial business combination, the loans would be repaid out of funds not held in the Trust Account, and only to the extent

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

Company had no borrowings under the Working Capital Loans.

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

Company had $ 175,000 and $0 borrowings under the Working Capital Loans.

Due to Related Parties

4 unchanged sentences

payable each month.

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

Company had accrued expenses for Jia Peng of $ 14,000 and $ 14,300 , respectively.

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

Company had prepaid expenses of $ 300 and accrued expense of $ 14,300 for Jia Peng, respectively.

On June 14, 2024, the Company appointed William

2 unchanged sentences

in the amount of $ 7,500 , payable each month.

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

Company had accrued compensation expenses for William Snyder of $ 18,750 .

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

Company had accrued compensation expenses for William Snyder of $ 0 and $ 18,750 , respectively.

Evan Graj, a Director of the Company, paid office

expenses on behalf of the Company during the three months ended March 31, 2025.

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

expenses on behalf of the Company during the six months ended June 30, 2025.

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

Company had accrued expenses for Evan Graj of $ 2,333 and $ 470 , respectively.

6 — Commitments and Contingencies

Note 6 — Commitments and

Contingencies

Registration Rights

24 unchanged sentences

to fund the redemption of our public shares.

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

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

underwriting discounts and commissions amounted to $ 862,500 payable upon consummation of the Company’s initial business combination.

3 unchanged sentences

and preferences as may be determined from time to time by the Company’s board of directors.

As of March 31, 2025 and December 31,

As of June 30, 2025 and December 31,

2024, there were no preference shares issued or outstanding.

1 unchanged sentence

Company is authorized to issue 445,000,000 shares of Class A ordinary share with $ 0.0001 par value.

As of March 31, 2025 and December

As of June 30, 2025 and December

31, 2024, there were 244,250 shares of Class A ordinary share issued or outstanding, excluding

43 unchanged sentences

unaudited statement of operations.

key measures of segment profit or loss reviewed by our CODM are interest and dividend income on cash

and investments held in Trust Account and formation and operating costs.

The CODM reviews interest and dividend income on

investment held in Trust Account to measure and monitor shareholder value and determine the most effective strategy of cash

and investments with the Trust Account funds while maintaining compliance with the trust agreement.

Formation and operating

costs are reviewed and monitored by the CODM to manage and forecast cash to ensure enough capital is available to complete an

initial business combination within the initial business combination period.

The CODM also reviews formation and operating costs to

manage, maintain and enforce all contractual agreements to ensure costs are aligned with all agreements and budget.

measures of segment profit or loss reviewed by our CODM are interest and dividend income on cash and investments held in Trust Account

and formation and operating costs.

The CODM reviews interest and dividend income on cash and investments held in Trust Account to measure

and monitor shareholder value and determine the most effective strategy of cash and investments with the Trust Account funds while maintaining

compliance with the trust agreement.

Formation and operating costs are reviewed and monitored by the CODM to manage and forecast cash

to ensure enough capital is available to complete an initial business combination within the initial business combination period.

CODM also reviews formation and operating costs to manage, maintain and enforce all contractual agreements to ensure costs are aligned

with all agreements and budget.

Note 9 — Subsequent Events

3 unchanged sentences

the Company did not identify any subsequent events that would require adjustment or disclosure in the unaudited financial statements,

other than the event described below.

On July 18, 2025, the

Sponsor agreed to loan the Company up to $ 500,000 (“Working Capital Loan”) to meet the Company’s working capital

The loan was evidenced by a promissory note that was non-interest bearing and unsecured, and it was to be paid upon the earlier

of (1) the date on which the Company consummates a business combination or merger with a qualified target company, and (2) the date

of the liquidation of the Company.

The Sponsor has the right, but not the obligation, to convert this loan, in whole or in part, into

private units of the Company, each consisting of one Class A ordinary share, one right to receive one-fifth of one Class A ordinary share.

The number of private units to be received by the Sponsor in connection with such conversion shall be an amount determined by dividing

(x) the sum of the outstanding principal amount payable to the Sponsor by (y) $ 10.00 .

On August 5, 2025, the Company held an extraordinary

general meeting (the “Second Shareholder Meeting”).

At the Second Shareholder Meeting, the shareholders of the Company, by

special resolution, approved the proposal to amend Company’s 2 nd amended and restated memorandum and articles of

associations to change the Company’s name from “Aifeex Nexus Acquisition Corporation” to “Pantages Capital Acquisition

Corporation”.

The name change was effective as of August 5, 2025.

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