Kairous Acquisition Corp. Limited(KACLU) - 2024 Q1 - Quarterly Report

Financial Performance - As of September 30, 2023, the company reported a net loss of $57,815, with operating costs of $357,484 and interest income of $299,669 from the Trust Account[125]. - The company has a history of losses and insufficient liquidity, raising substantial doubt about its ability to continue as a going concern[130]. - Net (loss) income per share for the three months ended September 30, 2023, is the same as basic income (loss) per share, as there were no dilutive securities[138]. Cash and Working Capital - The company had cash of $3,150 outside the Trust Account and a working capital deficit of $1,988,952 as of September 30, 2023[129]. - The company intends to use substantially all funds in the Trust Account to complete an initial business combination[131]. Business Operations - The company has not engaged in any operations or generated operating revenues since its inception on March 24, 2021, and does not expect to do so until after completing its initial business combination[124]. - The company incurred significant costs in pursuit of its acquisition plans and expects to continue to have negative cash flows from operations[129]. Financing and Agreements - The company entered into six unsecured promissory note arrangements with the Sponsor, each for $120,000, to extend the time available for completing a business combination until December 16, 2023[120]. - The company executed a new Merger Agreement on September 30, 2023, to merge with NR Instant Produce Public Company Limited and Bamboo Mart Limited[123]. Shareholder Information - The company has 7,800,000 ordinary shares subject to possible redemption, classified outside of permanent equity due to SEC guidance[137]. Risk and Accounting - The company is not subject to any market or interest rate risk as of September 30, 2023[140]. - Management believes that recently issued accounting standards will not have a material effect on the financial statements[139]. - As of September 30, 2023, the company did not have any off-balance sheet arrangements[140].