Financial Performance - The company reported a net income of $542,018 for the three months ended December 31, 2024, 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, entirely due to formation and operating expenses[98]. Cash and Working Capital - As of December 31, 2024, the company had cash of $552,031 available for working capital needs and a working capital of $532,436[103]. - The company has no off-balance sheet financing arrangements or long-term liabilities as of December 31, 2024[105][106]. Business Operations and Strategy - The company has no revenue and has incurred losses since inception, relying on working capital from its IPO and loans from its sponsor[95]. - The company expects to incur significant costs in pursuing acquisition plans and has no commitments in place for additional financing[103]. - 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, with fees contingent upon the completion of a business combination[104]. - The company anticipates increased expenses related to being a public company and searching for target opportunities following its IPO[96]. 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, on its financial statements[110][111].
Eureka Acquisition Corp(EURKU) - 2025 Q1 - Quarterly Report