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 June 30, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-41578 HORIZON SPACE ACQUISITION I CORP. (Exact name of registrant as specified in its charter) Cayman Islands N/A (State or other jurisdiction ...

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, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-41578 HORIZON SPACE ACQUISITION I CORP. (Exact name of registrant as specified in its charter) Cayman Islands N/A (State or other jurisdictio ...

IPO and Financing - The company completed its IPO on December 27, 2022, issuing 6,900,000 Public Units at an offering price of $10.00 per unit, generating gross proceeds of $69.0 million[17]. - The company also completed a Private Placement on the same day, selling 385,750 Private Units to the Sponsor for gross proceeds of $3,857,500[18]. - Total proceeds from the IPO and Private Placement amounted to $70,207,500, which were placed in a Trust Account for the benefit of public shareholders[19]. - The company has issued three unsecured promissory notes totaling $1 million to the Sponsor for general working capital purposes[49]. - An aggregate of $1,320,000 in extension fees has been deposited into the Trust Account, with $1,250,000 contributed by Shenzhen Squirrel[47]. - The company intends to use substantially all net proceeds from the IPO to acquire a target business and cover related expenses, including deferred underwriting commissions of $2,415,000[132]. Business Combination and Shareholder Meetings - As of September 25, 2023, the company held a shareholder meeting to extend the deadline for completing its initial business combination to March 27, 2024, with a total of 562,779 Ordinary Shares redeemed, releasing approximately $5.93 million from the Trust Account[39]. - A second shareholder meeting on March 22, 2024, approved further extensions, allowing up to nine additional months to complete a business combination, with 815,581 Ordinary Shares redeemed, releasing approximately $8.86 million from the Trust Account[40]. - The company entered into a Business Combination Agreement with Squirrel Enlivened Technology Co., Ltd on September 16, 2024, involving a merger that will result in the cancellation of existing securities in exchange for newly issued shares of PubCo[24]. - The Sponsor Support Agreement was executed on September 16, 2024, where the Sponsor agreed to vote in favor of the Transactions and waive redemption rights[27]. - The company has until April 27, 2025, to consummate the Transactions, with a potential extension to December 27, 2025[53]. - The company must commence liquidation of the Trust Account by December 27, 2024, unless extended by up to twelve monthly extensions, each costing $120,000[46]. Financial Performance and Position - The company has not generated any revenue since its inception and has incurred losses due to formation and operating costs[21]. - As of December 31, 2024, the company reported a net income of $2,112,351, consisting of interest and dividend income of $3,171,545, offset by operating costs of $1,059,194[129]. - The company had cash of $7,815 and a working capital deficiency of $1,974,004 as of December 31, 2024[135]. - The company has incurred and expects to continue incurring significant professional costs to remain a publicly traded company, raising substantial doubt about its ability to continue as a going concern[135]. - The company has not generated any operating revenues to date and relies on interest income from the Trust Account[128]. - The company may need additional financing to consummate its initial business combination or to redeem a significant number of public shares[134]. Regulatory and Compliance Issues - The company received a Nasdaq noncompliance letter on October 3, 2024, regarding the minimum shareholder requirement, but subsequently applied for and was approved to transfer its listing to the Nasdaq Capital Market[35][36]. - The company is subject to PRC laws regarding foreign investments and data security, which may impact its ability to raise capital overseas[57]. - The company has submitted its application to the CSRC for the Transactions, which is currently under review[57]. - The company may need to procure additional permits and approvals for its operations post-Transactions, which could materially affect its business[58]. - The company has not received any denials or expirations of required licenses and approvals for its current business operations in China[58]. - The process of obtaining government approvals, such as from CFIUS, could be lengthy, risking liquidation if not completed in time[81]. Corporate Governance - The board of directors consists of four members, with terms expiring in 2025, 2026, and 2027 for different classes[180]. - Mingyu (Michael) Li serves as the Chief Executive Officer and has extensive experience in private equity and consulting, including leading multiple fundraising efforts[175]. - The audit committee is composed of independent directors Colon, Singh, and Gonzalez Caceres, ensuring compliance with Nasdaq standards[183]. - The compensation committee, chaired by Mark Singh, is responsible for reviewing and approving executive compensation policies and plans[186]. - A clawback policy was adopted on November 28, 2023, requiring executive officers to reimburse erroneously awarded compensation based on restated financial results[195][196]. - The company has established a code of ethics applicable to all directors, officers, and employees, which is available for public review[194]. Shareholder Information - The company has 4,168,739 Ordinary Shares issued and outstanding as of the date hereof[212]. - Mingyu (Michael) Li owns 2,092,750 Ordinary Shares, representing 50.20% of the total[213]. - The group of all officers and directors collectively owns 2,110,750 Ordinary Shares, accounting for 24.41% of the total[213]. - Horizon Space Acquisition I Sponsor Corp. is a 5% holder with 2,092,750 Ordinary Shares, also 50.20%[213]. - Westchester Capital Management, LLC holds 297,000 Ordinary Shares, which is 7.12% of the total[213]. - First Trust Merger Arbitrage Fund owns 280,410 Ordinary Shares, representing 6.73%[213]. - Mizuho Financial Group, Inc. has 399,500 Ordinary Shares, accounting for 9.58%[213]. - WOLVERINE ASSET MANAGEMENT LLC holds 398,712 Ordinary Shares, which is 9.56%[213].

Core Points - Horizon Space Acquisition I Corp. has scheduled an extraordinary general meeting of shareholders to adjourn the meeting from December 20, 2024, to December 23, 2024, to allow more time for shareholder engagement [4] - The record date for determining eligible shareholders to vote remains November 14, 2024, and shareholders can vote even if they have sold their shares after this date [1] - The deadline for public shareholders to deliver redemption requests has been extended to before the vote at the rescheduled meeting [4] Company Information - Horizon Space Acquisition I Corp. is a special purpose acquisition company (SPAC) formed to effect a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar business combination with one or more businesses or entities [10] - The company has filed a definitive proxy statement with the SEC regarding the solicitation of proxies for the meeting and will amend it to include information about the meeting date and redemption request deadline [8] - Shareholders with questions regarding the adjournment or voting can contact the company's proxy solicitor, Advantage Proxy, Inc. [5]

Core Viewpoint - Horizon Space Acquisition I Corp. is seeking shareholder approval for amendments to its charter and trust agreement, which will allow for extended time to complete a business combination until December 27, 2025, with revised terms for trust account contributions [6][13]. Group 1: Company Proposals - The Company has proposed amendments to its current charter (MAA Amendment Proposal) and the trust agreement (Trust Amendment Proposal) to facilitate a business combination [13]. - If approved, the Company can extend the deadline for completing a business combination up to twelve times, each by one month, until December 27, 2025 [6][13]. - The New Monthly Extension requires a contribution of $120,000 to the trust account for all remaining public shares, compared to the previous requirement of $60,000 or $0.04 per share [6]. Group 2: Shareholder Information - The record date for determining shareholders entitled to vote at the Meeting is November 14, 2024, and shareholders can vote even if they have sold their shares after this date [14]. - Shareholders who have already voted do not need to take further action unless they wish to change their vote [14]. - The Company encourages shareholders who have not yet voted to do so as soon as possible [14]. Group 3: Regulatory Compliance - The Company will file a current report on Form 8-K in connection with each New Monthly Extension as per applicable rules and regulations [9]. - The definitive proxy statement filed with the SEC on November 19, 2024, will be amended to include information about the New Extension Fee and proposed amendments [12]. - Investors are urged to read the definitive proxy statement and other documents filed with the SEC for important information [12].

IPO and Financing - The company completed its IPO on December 27, 2022, raising gross proceeds of $69,000,000 from the sale of 6,900,000 units at an offering price of $10.00 per unit[94]. - A private placement of 385,750 units was completed concurrently with the IPO, generating an additional $3,857,500[95]. - The total proceeds from the IPO and private placement amounted to $70,207,500, which were placed in a trust account for public shareholders[96]. - The company intends to use substantially all net proceeds from the IPO, including $2,415,000 for deferred underwriting commissions, to acquire target businesses and cover related expenses[121]. - The company issued two unsecured promissory notes totaling $700,000 to the Sponsor for general working capital purposes, with no interest and payable upon the consummation of a business combination[114][129]. Business Operations and Financial Performance - The company has had no revenue and has incurred losses since inception, relying on working capital from the IPO and loans from sponsors to fund operations[93]. - For the three months ended September 30, 2024, the company reported a net income of $296,392, down from $794,031 in the same period of 2023, reflecting a decrease of approximately 62.7%[118]. - For the nine months ended September 30, 2024, the company had a net income of $1,659,067, compared to $2,250,037 for the same period in 2023, indicating a decline of about 26.2%[119]. - As of September 30, 2024, the company had cash of $128,169 available for working capital needs, with a working capital deficiency of $1,476,824[124]. - The company incurred cash used in operating activities of $655,112 for the nine months ended September 30, 2024[120]. - The company has significant professional costs expected to continue as a publicly traded entity, raising substantial doubt about its ability to continue as a going concern[124]. Business Combination and Compliance - The company entered into a Business Combination Agreement with Squirrel Enlivened Technology Co., Ltd on September 16, 2024, to merge and create a new entity[97]. - The Business Combination will involve the cancellation of all outstanding securities of Squirrel HoldCo in exchange for newly issued securities of the parent company[99]. - The company has until November 27, 2024, to complete its initial business combination, with the possibility of extending this deadline through monthly extensions[112]. - A total of $620,000 in Monthly Extension Fees has been deposited into the trust account to facilitate the extension of the business combination deadline[113]. - The company received a Nasdaq noncompliance letter on October 3, 2024, regarding the minimum shareholder requirement, with a deadline to submit a compliance plan by November 19, 2024[109][110]. Assets and Investments - The assets held in the Trust Account amounted to $62,103,769 as of September 30, 2024, primarily invested in mutual funds[131]. - As of September 30, 2024, the assets held in the Trust Account were primarily in mutual funds and U.S. Treasury securities, classified as trading securities[142]. Tax and Accounting - The company is considered an exempted Cayman Islands Company and is not subject to income taxes in the Cayman Islands or the United States, resulting in a de minimis tax provision for the period presented[146]. - Management does not anticipate any significant uncertain tax positions that would require recognition in the financial statements[144]. - The company has identified the Cayman Islands as its only major tax jurisdiction, with no significant uncertain tax positions expected[144][145]. - The adoption of ASU 2020-06 on January 1, 2024, did not have a material effect on the company's financial statements[147]. - The new accounting standard aims to simplify the accounting for convertible debt and equity-linked instruments, potentially impacting diluted earnings per share[147]. - The company does not believe that any recently issued accounting pronouncements will materially affect its financial statements if adopted[148]. Share Trading and Market Compliance - The company’s ordinary shares began trading on the Nasdaq Capital Market on November 14, 2024, following approval for the transfer from the Nasdaq Global Market[111]. - The fair value hierarchy is categorized into three levels: Level 1 based on unadjusted quoted prices in active markets, Level 2 based on quoted prices in active or inactive markets, and Level 3 based on unobservable inputs[140][141]. - The company has no long-term debt or off-balance sheet financing arrangements as of September 30, 2024[125][126]. - The company has the right to convert the Sponsor Notes into private units, with each unit consisting of one Ordinary Share, one warrant, and a right to receive one-tenth of an Ordinary Share upon business combination[116].

Financial Performance - The company has not generated any revenue since inception and has incurred losses primarily from formation and operating costs [76]. - For the three months ended June 30, 2024, the company reported a net income of $629,211, with interest and dividend income of $784,220 offset by operating costs of $155,009 [86]. - As of June 30, 2024, the company had cash of $21,876 and a working capital deficiency of $797,478 [91]. Capital Raising - The IPO raised gross proceeds of $69,000,000 from the sale of 6,900,000 units at an offering price of $10.00 per unit [77]. - The private placement generated gross proceeds of $3,857,500 from the sale of 385,750 units at a purchase price of $10.00 per unit [78]. - The company plans to use substantially all net proceeds from the IPO to acquire a target business and cover related expenses, including deferred underwriting commissions of $2,415,000 [88]. Business Combination - The company has until August 27, 2024, to complete its initial business combination, with the possibility of extending this period up to nine months [79]. - A non-binding Letter of Intent was signed with Shenzhen Squirrel Enlivened Media Group for a potential business combination, but no definitive agreements have been made [80]. - The company has incurred significant professional costs to remain publicly traded and expects to continue incurring transaction costs in pursuit of a business combination [91]. Financial Position - As of June 30, 2024, the assets held in the Trust Account amounted to $61,128,031, primarily in mutual funds [97]. - As of June 30, 2024, the company has no long-term debt or off-balance sheet financing arrangements [92]. - The Company issued an unsecured promissory note of $300,000 to the Sponsor, which will be used for general working capital purposes [95]. Accounting and Taxation - The Company accounts for warrants as equity-classified instruments, qualifying for equity accounting treatment upon further review [99]. - The Company does not have any critical accounting estimates that could significantly affect reported amounts [96]. - The fair value of investments held in the Trust Account is determined using available market information, classified as trading securities [97]. - The Company is considered an exempted Cayman Islands Company and is not subject to income taxes in the Cayman Islands or the United States [109]. - The Company complies with ASC 740 for income taxes, recognizing deferred tax assets and liabilities [107]. - The adoption of ASU 2020-06 on January 1, 2024, did not have a material effect on the Company's financial statements [110]. - Ordinary Shares subject to possible redemption are classified as temporary equity and presented at redemption value [102]. - The Company does not anticipate any adjustments that would result in a material change to its financial position regarding tax positions [108].

Financial Performance - The company has not generated any revenue since its inception and has incurred losses primarily from formation and operating costs [100]. - As of March 31, 2024, the company reported a net income of $733,464, consisting of interest and dividend income of $881,123, offset by operating costs of $147,659 [115]. - The company had cash of $93,109 available for working capital needs as of March 31, 2024, with a working capital deficiency of $462,469 [119]. IPO and Capital Structure - The company completed its IPO on December 27, 2022, raising gross proceeds of $69,000,000 from the sale of 6,900,000 public units [102]. - The company intends to use substantially all net proceeds from the IPO to acquire a target business and cover related expenses, including deferred underwriting commissions of $2,415,000 [117]. - The company is obligated to pay underwriters deferred underwriting fees of 3.5% of the gross proceeds of the IPO, totaling $2,415,000 upon completion of the business combination [121]. Business Combination and Agreements - The company has entered into a non-binding Letter of Intent with Shenzhen Squirrel Enlivened Media Group for a potential business combination, but no definitive agreements have been made [108]. - The company has the option to extend the deadline for consummating a business combination up to nine times, with each extension costing $60,000 deposited into the Trust Account [106]. - The company has incurred significant professional costs to remain publicly traded and expects to continue incurring transaction costs in pursuit of a business combination [119]. Financial Position and Liabilities - The company has issued an unsecured promissory note of $300,000 to the Sponsor for general working capital purposes [111]. - The company has no off-balance sheet financing arrangements as of March 31, 2024 [120]. - As of March 31, 2024, the assets held in the Trust Account amounted to $60,163,810, primarily in mutual funds [126]. - The company has no long-term debt, capital lease obligations, or long-term liabilities as of March 31, 2024 [121]. Accounting and Taxation - The company accounts for warrants as equity-classified instruments, qualifying for equity accounting treatment [128]. - The company has not identified any significant uncertain tax positions requiring recognition in its financial statements [137]. - The company is considered an exempted Cayman Islands Company and is not subject to income taxes in the Cayman Islands or the United States [139]. - The company complies with ASC 718 for share-based compensation, recognizing expenses over the requisite service period [130]. - The fair value of investments held in the Trust Account is determined using available market information, classified as trading securities [126]. - The company has identified critical accounting policies and estimates that may affect reported amounts of assets and liabilities [125]. Investment Strategy - Following the IPO, the net proceeds have been invested in U.S. government treasury bills or money market funds, mitigating exposure to interest rate risk [142].

IPO and Financial Proceeds - The company completed its IPO on December 27, 2022, raising gross proceeds of $69.0 million from the sale of 6,900,000 Public Units at an offering price of $10.00 per unit[20]. - The total proceeds from the IPO and Private Placement amounted to $70,207,500, which were placed in a Trust Account for the benefit of public shareholders[22]. - A total of $70,207,500 from the IPO and Private Placement was placed in a Trust Account, with $10.175 per Public Unit[107]. - The company has broad discretion regarding the use of proceeds from the IPO and Private Placement, primarily for business combination and working capital[117]. - The company intends to use substantially all net proceeds from the IPO, including $2,415,000 for deferred underwriting commissions, to acquire target businesses and cover related expenses[136]. Business Combination and Strategy - The company has the option to extend the deadline for consummating a business combination up to March 27, 2024, with a Monthly Extension Fee of $70,000 for each extension[27]. - A non-binding Letter of Intent (LOI) was signed with Shenzhen Squirrel for a potential business combination, although no definitive agreements have been made yet[38]. - The company established a Special Committee to evaluate the proposed business combination with Shenzhen Squirrel, consisting of independent directors[39]. - The company intends to focus on acquiring emerging growth companies that are either cash-generative or have the potential to generate cash[45]. - The company aims to acquire target businesses that are close to an anticipated inflection point, focusing on those that require management expertise or can innovate through new products or services[46]. - The evaluation criteria for potential acquisitions include organic growth potential in cash flows, cost savings, accelerated growth opportunities, and prospects for value creation initiatives[47]. - The company has until April 27, 2024, to complete its initial business combination; failure to do so will result in the redemption of 100% of public shares for a pro rata portion of the Trust Account funds[53]. - The initial business combination must involve target businesses with a collective fair market value of at least 80% of the Trust Account balance at the time of the definitive agreement[55]. - The company anticipates structuring its initial business combination to acquire 100% of the equity interests or assets of the target business[57]. Financial Performance and Condition - The Company reported a net income of $2,911,033, primarily from interest and dividend income of $3,471,188, offset by operating costs of $560,155[133]. - The Company incurred a net loss of $123,960 for the period from June 14, 2022, through December 31, 2022, due to formation and operating costs and share-based compensation expenses[134]. - The Company has a working capital deficiency of $114,810 as of December 31, 2023, raising substantial doubt about its ability to continue as a going concern[139]. - The Trust Account held assets valued at $67,946,855 as of December 31, 2023, primarily invested in mutual funds with underlying U.S. Treasury securities[145]. Regulatory and Compliance Issues - If the company acquires a PRC target company, it may need to obtain approval from Chinese authorities to list on U.S. exchanges, which could materially affect investor interests[60]. - The Holding Foreign Companies Accountable Act may restrict the company’s ability to complete business combinations with certain target businesses unless they meet PCAOB standards[68]. - The company is subject to the Holding Foreign Companies Accountable Act (HFCAA), which may impact its ability to maintain a listing on U.S. exchanges if its auditor cannot be inspected for two consecutive years[77]. - The PCAOB has determined it can now fully inspect registered public accounting firms in mainland China and Hong Kong, which may alleviate previous compliance concerns[76]. - The company may face challenges in enforcing legal rights in the PRC due to the lack of reciprocal recognition of judgments between the U.S. and China[64]. - The company’s auditor, UHY LLP, is registered with the PCAOB and subject to regular inspections, ensuring compliance with applicable professional standards[67]. Corporate Governance - The board of directors consists of four members, divided into three classes, with each class serving a three-year term[182]. - The audit committee is composed of three independent directors, meeting Nasdaq standards, with Mr. Colon serving as the Chairman[185]. - The compensation committee, also consisting of independent directors, is responsible for reviewing executive compensation arrangements[189]. - A clawback policy was adopted on November 28, 2023, requiring executive officers to reimburse any erroneously awarded compensation due to misconduct[196]. - All ongoing transactions with officers and directors will be on terms no less favorable than those available from unaffiliated third parties, requiring prior approval from the audit committee[204]. - The company will not consummate a business combination with an entity affiliated with any officers or directors without independent fairness opinions and disinterested director approval[205]. - All required ownership reports under Section 16(a) of the Exchange Act were timely filed by the relevant officers and directors during the fiscal year ended December 31, 2023[207]. Shareholder Information - As of the date of the report, there are 8,647,971 Ordinary Shares issued and outstanding[212]. - Mingyu (Michael) Li holds 2,092,750 Ordinary Shares, representing 24.20% of the total[213]. - The total beneficial ownership of all officers and directors as a group is 2,110,750 Ordinary Shares, or 24.41%[213]. - The Sponsor issued 1,725,000 Ordinary Shares at a purchase price of $25,000, approximately $0.0145 per share[216]. - As of December 31, 2023, there are 1,725,000 Founder Shares issued and outstanding[217]. - The Company completed the Private Placement of 385,750 Private Units at a purchase price of $10.00 per Private Unit[218]. - First Trust Merger Arbitrage Fund holds 509,580 Ordinary Shares, representing 5.89% of the total[213]. - Karpus Management, Inc. holds 602,900 Ordinary Shares, representing 6.97% of the total[213]. - Independent directors received a total of 18,000 Ordinary Shares from the Sponsor prior to the IPO[216]. Operational and Risk Management - The company has not generated any revenue since its inception and has incurred losses due to formation and operating costs[24]. - The company has no full-time employees and relies on its CEO to devote necessary time until a business combination is completed[85]. - The company pays $1,000 per month for office space and administrative support services[84]. - The company has not encountered any cybersecurity incidents since its IPO, indicating a low cybersecurity risk profile[93]. - The company has not adopted any formal cybersecurity risk management program, relying on management to assess threats[92]. - The company’s ability to complete a business combination may be limited by foreign investment regulations and CFIUS review processes[82]. - The company will incur significant professional costs to remain publicly traded and pursue a business combination[139].

Financial Performance - For the three months ended September 30, 2023, the company reported a net income of $794,031, consisting of interest and dividend income of $936,211, offset by operating costs of $142,180 [126]. - For the nine months ended September 30, 2023, the company had a net income of $2,250,037, with interest and dividend income of $2,577,275, offset by operating costs of $327,238 [127]. - The company has not generated any revenue to date and has incurred losses since inception due to formation and operating costs [108]. - The company has incurred increased expenses due to being a public company, impacting its financial position [125]. - Significant professional costs are expected to continue as the company remains publicly traded and pursues a business combination [134]. Cash and Investments - As of September 30, 2023, the company had cash of $289,464 available for working capital needs, with all remaining cash held in the Trust Account [129]. - As of September 30, 2023, the company had cash of $289,464 and working capital of $228,107 [134]. - The Trust Account held assets of $72,868,126, primarily in mutual funds, classified as trading securities [140]. - The net proceeds from the IPO have been invested in U.S. government treasury bills, notes, or bonds with a maturity of 185 days or less [159]. - The company has also invested in certain money market funds that invest solely in U.S. treasuries [159]. - Due to the short-term nature of these investments, the company believes there will be no associated material exposure to interest rate risk [159]. Business Combination and Operations - On October 24, 2023, a total of $70,000 was deposited into the Trust Account, extending the deadline for the initial business combination from October 27, 2023, to November 27, 2023 [104]. - The company has the option to extend the deadline for the initial business combination up to six times, each by one month, potentially extending to March 27, 2024 [115]. - On September 25, 2023, shareholders approved an amendment allowing the company to cease operations if it fails to complete a business combination by the termination date [114]. - If unable to complete a business combination by September 27, 2023, the company may commence voluntary liquidation [134]. - The company incurred deferred underwriting commissions of $2,415,000 payable to underwriters upon completion of the business combination [136]. Financing and Debt - The company issued unsecured promissory notes totaling $140,000 to evidence the payment of Monthly Extension Fees [120]. - The company may need additional financing to consummate the initial business combination or to meet obligations if cash on hand is insufficient [133]. - The company has no long-term debt or off-balance sheet financing arrangements as of September 30, 2023 [135]. Accounting and Compliance - The company accounts for share-based compensation expense in accordance with ASC 718, recognizing it over the requisite service period [144]. - The adoption of ASU 2020-06 on July 1, 2022, did not have a material effect on the company's financial statements [157]. - The company has no significant uncertain tax positions requiring recognition in its financial statements [151]. - As of September 30, 2023, the company was not subject to any market or interest rate risk [159].