CSLM Acquisition Corp.(CSLMU) - 2024 Q1 - Quarterly Report

Financial Performance - As of March 31, 2024, the Company had a net income of $148,092, consisting of $679,342 in dividends on marketable securities held in the Trust Account[106]. - For the three months ended March 31, 2023, the Company reported a net income of $1,618,630, with a realized gain of $2,105,252 on marketable securities[108]. - The Company had cash of $91,139 as of March 31, 2024, and a working capital deficit of $2,387,737[109]. Trust Account and IPO - A total of $191,647,500 from the IPO and private placement warrants was placed in a U.S.-based trust account[101]. - The Initial Public Offering generated gross proceeds of $189,750,000 from the sale of 18,975,000 units[97]. Business Combination and Extensions - The Company extended the time to complete a business combination by fifteen additional one-month periods until October 18, 2024, requiring a deposit of $70,000 for each extension[102]. - The underwriter is entitled to a deferred fee of $6,641,250, payable only if the Company completes a Business Combination[113]. - The Company has not commenced any operations and will not generate operating revenues until after completing a Business Combination[95]. Shareholder Actions - 14,202,813 Class A shares were tendered for redemption, with shareholders redeeming shares for $149,486,187, or approximately $10.53 per Class A share[103]. Financial Viability and Costs - The Company has incurred significant costs in pursuit of financing and acquisition plans, raising substantial doubt about its ability to continue as a going concern[111]. - The founder and CEO of Fusemachines is eligible for a transaction bonus of up to $1,000,000, contingent on specific conditions being met prior to the business combination closing[118]. - The transaction bonus is calculated as 20% of each dollar of Parent closing cash exceeding $1,000,000[118]. Accounting and Reporting - The company has not identified any critical accounting estimates that could materially affect reported financial results[119]. - As a smaller reporting company, Fusemachines is not required to provide detailed market risk disclosures[121].