Quarterly ResultMay 11, 2026, 04:20 PM
Centurion Acquisition Corp. Q1 Net Income $2.52M; Going Concern Doubt
AI Summary
Centurion Acquisition Corp. reported a net income of $2.52 million for Q1 2026, a decrease from $2.90 million in Q1 2025. The company disclosed a working capital deficit of $101,340 as of March 31, 2026, raising substantial doubt about its ability to continue as a going concern. The SPAC faces mandatory liquidation if it cannot complete a business combination by June 12, 2026.
Key Highlights
- Substantial doubt about Centurion Acquisition Corp.'s ability to continue as a going concern.
- Mandatory liquidation if business combination not completed by June 12, 2026.
- Q1 2026 net income was $2.52 million, down from $2.90 million in Q1 2025.
- Working capital deficit of $101,340 as of March 31, 2026.
- Cash balance decreased to $28,828 from $100,985 as of December 31, 2025.
- Marketable securities in Trust Account grew to $310.90 million from $308.17 million.
- General and administrative costs increased to $201,744 in Q1 2026.
- Total liabilities rose to $13.84 million as of March 31, 2026.