Financial Performance - For the three months ended September 30, 2025, the company reported a net income of $497,832, primarily from interest income of $629,947, offset by general and administrative expenses of $132,115 [96]. - For the nine months ended September 30, 2025, the company had a net income of $1,110,246, consisting of interest income of $1,648,194, with general and administrative expenses totaling $537,948 [97]. - The company has no revenue and has incurred losses since inception, relying on the sale of securities and loans from the sponsor to fund operations [93]. IPO and Financing - The company completed its IPO on January 24, 2025, raising total gross proceeds of $60,000,000 from the sale of 6,000,000 units at $10.00 per unit [89]. - The company intends to use substantially all net proceeds from the IPO to acquire a target business and cover related expenses [100]. - As of September 30, 2025, the company had cash of $638,311 and working capital of $587,802, with cash provided by financing activities amounting to $61,066,688 [99]. Business Operations and Obligations - The company has until January 22, 2026, to complete its initial business combination, or it will face automatic winding up and liquidation [104]. - The company has incurred and expects to continue incurring significant costs to remain publicly traded and pursue a business combination [103]. - As of September 30, 2025, the company has no long-term debt or capital lease obligations [106]. - The company has not entered into any off-balance sheet financing arrangements as of September 30, 2025 [105].
Columbus Acquisition Corp(COLA) - 2025 Q3 - Quarterly Report