Financial Performance - For the three months ended June 30, 2025, the company reported a net income of $631,498, with operating costs of $110,661 and interest income of $742,159[120]. - The company incurred a net loss of approximately $42,035 for the three months ended June 30, 2024, due to formation and operation costs[121]. Initial Public Offering - The company completed its initial public offering on July 26, 2024, selling 6,900,000 units at $10.00 per unit, generating gross proceeds of $69,000,000[109]. - A private placement of 206,900 units was also completed simultaneously, generating an additional $2,069,000[110]. - The underwriters are entitled to a cash commission of 2.5% of gross proceeds from the initial public offering, amounting to $900,000, payable upon the closing of the initial business combination[123]. Liquidity and Financial Position - As of June 30, 2025, the company had cash at bank of $126,055 and working capital of $121,641, indicating liquidity challenges[115][116]. - The company has not engaged in any operations or generated revenue to date, with expectations to do so only after completing a business combination[119]. - The company intends to use substantially all funds in the trust account for its initial business combination, with the potential to withdraw interest for tax payments[114]. - As of June 30, 2025, the company had no off-balance sheet arrangements[128]. Administrative Support - The company has entered into an agreement to pay the sponsor $10,000 per month for administrative support services until the initial business combination is consummated[124].
DT Cloud Star Acquisition Corporation(DTSQ) - 2025 Q2 - Quarterly Report