IPO and Proceeds - 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 total of $69,000,000 of the net proceeds from the IPO were deposited in a trust account for the benefit of public stockholders[110]. - The underwriters are entitled to a cash underwriting commission of 2.5% of the gross proceeds of the IPO, amounting to $900,000, payable upon the closing of the initial business combination[123]. 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]. Liquidity and Operations - As of June 30, 2025, the company had cash at bank of $126,055 and working capital of $121,641, indicating a lack of liquidity to sustain operations for a reasonable period[115][116]. - The company has not engaged in any operations or generated revenue to date, with all activities focused on preparing for the IPO and searching for a business combination[119]. - The company intends to use funds held in the trust account primarily to complete its initial business combination and for working capital to finance operations of the target business[114]. Administrative Support - The company has entered into an agreement to pay the sponsor $10,000 per month for administrative support services until the consummation of the initial business combination[124]. Accounting Estimates - The company has not identified any critical accounting estimates that could materially affect its financial statements[126].
DT Cloud Star Acquisition Corporation(DTSQU) - 2025 Q2 - Quarterly Report