Quarterly ResultMay 11, 2026, 04:20 PM
ASCBF Q1 2026 Net Loss $(72,295); Going Concern Doubt
AI Summary
ASPAC II Acquisition Corp. reported a net loss of $(72,295) for the three months ended March 31, 2026, compared to a net loss of $(60,743) for the same period in 2025. The company faces substantial doubt about its ability to continue as a going concern due to a significant working capital deficit of $(701,315) and the need for additional financing to complete a business combination by August 5, 2027. The company was delisted from Nasdaq in September 2024 and underwent significant management and auditor changes in mid-2025.
Key Highlights
- Net loss for Q1 2026 was $(72,295), compared to $(60,743) for Q1 2025.
- Working capital deficit stood at $(701,315) as of March 31, 2026.
- Cash balance increased to $100,159 as of March 31, 2026, from $135 at December 31, 2025.
- Total liabilities increased to $7,838,140 as of March 31, 2026.
- Investments in Trust Account were $530,997 as of March 31, 2026.
- Business combination period extended to August 5, 2027, following shareholder approval.
- Company delisted from Nasdaq on September 24, 2024, now trading on OTC markets.
- Significant management and auditor changes occurred in July and August 2025.