Financial Position - As of June 30, 2025, the company had cash of $2,856 and a working capital deficit of $1,257,022[201]. - As of June 30, 2025, 455,736 Class A ordinary shares were subject to possible redemption, classified as temporary equity[213]. - The company has determined that its liquidity condition raises substantial doubt about its ability to continue as a going concern[204]. Income and Loss - For the three months ended June 30, 2025, the company reported a net income of approximately $5,800, driven by investment income of approximately $56,000 and a gain from the change in fair value of derivative liabilities of approximately $242,000[206]. - For the six months ended June 30, 2025, the company incurred a net loss of approximately $358,000, with general and administrative expenses totaling approximately $467,000[208]. - The company had a net loss of approximately $1.7 million for the six months ended June 30, 2024, primarily due to general and administrative expenses of approximately $1.1 million[209]. Business Operations - The company has not generated any operating revenues since inception and will not do so until the completion of its initial Business Combination[205]. - The company has until November 15, 2025, to consummate an initial Business Combination, after which it must cease operations and redeem Public Shares if not completed[203]. Derivative Liabilities - The company recognized 22,050,000 warrants as derivative liabilities, which will be re-measured at fair value at each reporting period[212]. Funding and Expenses - The company received $25,000 from CBG and CB Co-Investment to cover certain expenses in exchange for the issuance of founder shares[202]. - No quantitative and qualitative disclosures about market risk were required for smaller reporting companies[226].
Chain Bridge I(CBRG) - 2025 Q2 - Quarterly Report