Aquaron Acquisition Corp.(AQUNU) - 2025 Q3 - Quarterly Report

Financial Performance - For the three months ended September 30, 2025, the company reported a net loss of $81,473, primarily due to general and administrative expenses of $93,145[125] - For the nine months ended September 30, 2025, the company had a net loss of $621,695, with general and administrative expenses totaling $749,366[127] - The company has not generated any operating revenues to date and does not expect to until after completing its initial Business Combination[124] Cash and Liabilities - As of September 30, 2025, the company had cash of $3,317 and a working capital deficit of $3,994,463[134] - The company recorded an excise tax liability of $739,679 as of September 30, 2025, due to stock redemptions[123] - The underwriters are entitled to a deferred fee of $0.35 per public share, totaling $1,896,013, payable only upon completion of a business combination[140] - The company may need to obtain additional financing to complete its Business Combination or to meet obligations if cash on hand is insufficient[135] - The company has no long-term debt or off-balance sheet financing arrangements as of September 30, 2025[137] IPO and Financing - The company generated gross proceeds of $50,000,000 from its IPO of 5,000,000 Units, sold at an offering price of $10.00 per Unit[129] - The company expects to incur significant professional costs to remain publicly traded and significant transaction costs in pursuit of a Business Combination[135] Accounting Standards - The FASB issued ASU No. 2023-07, effective for fiscal years beginning after December 15, 2023, requiring additional segment disclosures[142] - ASU 2023-09 mandates public business entities to disclose specific categories in rate reconciliation and additional information for reconciling items exceeding 5% of the statutory income tax rate effect[143] - The Company is assessing the impact of ASU 2023-09 on its financial position, results of operations, or cash flows[143] - Management believes that no other recently issued accounting standards will materially affect the financial statements[144] - As a smaller reporting company, the Company is not required to make disclosures about market risk[145]