Financial Performance - The company reported a net income of $253,265 for the three months ended September 30, 2023, compared to a net loss of $121 for the same period in 2022[117]. - For the nine months ended September 30, 2023, the company had a net income of $716,172, while in the same period of 2022, it reported a net loss of $7,291[118]. IPO and Capital Structure - The company completed its IPO on October 6, 2022, raising gross proceeds of $50 million from the sale of 5,000,000 units at $10.00 per unit[119]. - As of September 30, 2023, the company had $3,835 in cash and a working capital deficit of $886,122[121]. - The company recorded an excise tax liability of $259,438 as of September 30, 2023, due to redemptions by public stockholders[107]. Mergers and Acquisitions - The company entered into a merger agreement with Bestpath IoT Technology Ltd., valuing Bestpath at $1.2 billion prior to the closing of the mergers[110]. - The mergers will result in the issuance of up to 15,000,000 PubCo Ordinary Shares to Holdco's shareholders and eligible participants under a share incentive plan[111]. - An aggregate of 2,487,090 shares with a redemption value of approximately $25,943,774 were tendered for redemption during the special meeting held on June 28, 2023[114]. - The company has until January 6, 2024, to complete its initial business combination following extensions granted by stockholders[115]. - The Company has until January 6, 2024, to complete a Business Combination, after which mandatory liquidation will occur if not consummated[122]. Costs and Financial Obligations - The company expects to incur significant costs in pursuing its acquisition plans and does not guarantee the success of completing a business combination[102]. - Significant professional costs are expected to continue as the Company remains publicly traded, alongside transaction costs for the Business Combination[122]. - Upon closing a Business Combination, underwriters will receive a deferred fee of $0.35 per public share, totaling $1,896,013[127]. - The Company accounts for common stock subject to possible redemption as temporary equity, reflecting uncertain future events[129]. - The Company has adopted ASU 2020-06, accounting for convertible promissory notes as debt on the balance sheet[131]. - There are no long-term debts or liabilities, except for registration rights associated with founder shares and Private Placement Shares[126]. Internal Controls and Risks - There have been no changes in internal control over financial reporting that materially affected the Company during the nine months ended September 30, 2023[138]. - The Company faces risks from ongoing global conflicts, which may adversely affect its ability to consummate a Business Combination[141]. - The financial statements do not include adjustments that might result from uncertainties related to global conflicts and their impact on the Company's operations[142].

Financial Performance - The company reported a net income of $311,101 for the three months ended June 30, 2023, compared to a net loss of $5,027 for the same period in 2022[118]. - For the six months ended June 30, 2023, the company had a net income of $462,907, while the net loss for the same period in 2022 was $7,170[119]. IPO and Mergers - The company completed its IPO on October 6, 2022, raising gross proceeds of $50 million from the sale of 5,000,000 units at $10.00 per unit[121]. - The company entered into a merger agreement with Bestpath IoT Technology Ltd., valuing Bestpath at $1.2 billion prior to the closing of the mergers[111]. - The mergers will result in the issuance of up to 15,000,000 PubCo Ordinary Shares to Holdco's shareholders and eligible participants under a share incentive plan[112]. - Bestpath deposited $210,000 into the Trust Account to extend the Business Combination Period from July 6, 2023, to October 6, 2023[116]. Financial Position - As of June 30, 2023, the company had $65,634 in cash and a working capital deficit of $660,862[123]. - The company recorded an excise tax liability of $259,438 as of June 30, 2023, due to redemptions by public stockholders[108]. - An aggregate of 2,487,090 shares, with a redemption value of approximately $25,943,774, were tendered for redemption during the special meeting held on June 28, 2023[115]. - As of June 30, 2023, the Company has no off-balance sheet financing arrangements or long-term liabilities[126]. - The Company has no long-term debt or capital lease obligations, and registration rights are granted to holders of certain shares[128]. Business Combination and Operations - The Company has until October 6, 2023, to complete a Business Combination, after which mandatory liquidation will occur if not completed[124]. - If the Business Combination is not completed by July 6, 2023, the Company will cease operations except for liquidation purposes[125]. - Upon closing of a Business Combination, underwriters will receive a deferred fee of $0.35 per public share, totaling $1,896,013[129]. Accounting and Internal Controls - The Company accounts for common stock subject to possible redemption as temporary equity, reflecting uncertain future events[131]. - The Company has adopted ASU 2020-06, accounting for convertible promissory notes as debt on the balance sheet[133]. - Disclosure controls and procedures were evaluated as effective as of June 30, 2023[139]. - There have been no changes in internal control over financial reporting that materially affected the Company during the six months ended June 30, 2023[140]. - No material changes to previously disclosed risk factors have occurred as of the date of this Quarterly Report[141]. Future Expenses - The company expects to incur increased expenses as a result of being a public company, including legal and financial reporting costs[117].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ AQUARON ACQUISITION CORP. (Exact Name of Registrant as Specified in Charter) | --- | |------------------------------------| | | | | | Delaware ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 or ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to ________________ Commission file number: 001-40801 AQUARON ACQUISITION CORP. (Exact name of registrant as specified in its charter) | --- | --- | |---------------- ...