Financial Performance - As of December 31, 2024, the company reported a net income of $542,018, primarily from interest income of $694,056, offset by general and administrative expenses of $152,038 [97]. - For the three months ended December 31, 2023, the company incurred a net loss of $56,819, all attributed to formation and operating expenses [98]. - The company has no revenue and has incurred losses since inception, relying on working capital from the IPO and loans from the sponsor [95]. Cash and Working Capital - The company had cash of $552,031 available for working capital needs as of December 31, 2024 [100]. - The company expects to incur significant costs in pursuit of acquisition plans and has no commitments in place for additional financing [103]. Business Combination and Acquisition Plans - The company has until July 3, 2025, to complete its initial business combination, or it will face automatic liquidation [103]. - The company has entered into agreements with financial advisors for potential acquisition targets, but the probability of a business combination is currently not deemed probable [104]. Compliance and Expenses - The company anticipates increased expenses due to public company compliance and the search for target opportunities following the IPO [96]. - The company has no off-balance sheet financing arrangements or long-term liabilities as of December 31, 2024 [105][106]. Accounting Standards - The company is evaluating the impact of new accounting standards issued by the FASB, including ASU No. 2023-07 and ASU 2023-09, but does not expect significant effects on its financial statements [110][111].
Eureka Acquisition Corp(EURK) - 2025 Q1 - Quarterly Report