Financial Performance - For the three months ended September 30, 2025, the company reported a net loss of $341,897, with operating costs of $428,114, offset by a gain on investments held in the Trust Account of $119,784[143]. - For the nine months ended September 30, 2025, the company had a net loss of $863,650, resulting from operating costs of $1,150,604, offset by a gain on investments held in the Trust Account of $370,226[145]. - The company incurred net cash used in operating activities of $1,041,916 for the nine months ended September 30, 2025, due to its net loss[147]. Cash and Working Capital - As of September 30, 2025, the company had $319,258 in cash and cash equivalents held outside of the Trust Account and a working capital deficit of $3,049,242[152]. - The company has incurred $5,175,000 in deferred underwriting fees and up to $1,710,000 in promissory notes due upon completion of its business combination[158]. Business Combination - The proposed business combination with Cartiga, LLC is expected to close in the first quarter of 2026, pending shareholder approval[141]. - The company has until September 9, 2026, to complete its business combination, with the option to extend on a month-to-month basis[155]. Operations and Revenue - The company has not engaged in any operations or generated revenues to date, focusing solely on financing and organizational activities[142]. - There were no cash flows from investing activities for the nine months ended September 30, 2025 and 2024[149]. Initial Public Offering - The company generated gross proceeds of $115,000,000 from its Initial Public Offering of 11,500,000 units on May 9, 2023[150].
Alchemy Investments Acquisition 1(ALCY) - 2025 Q3 - Quarterly Report