Tue, Apr 15, 9:21 PM (83 days ago)
**Summary of Broad Capital Acquisition Corp (BRACU, BRAC, BRACW) 10-K Filing** **Ticker:** BRACU, BRAC, BRACW **Financial Performance:** - **Revenue:** $0 (no revenue generated as the company is in the pre-operational phase). - **Net Income:** $(1,122,587) for the year ended December 31, 2024. - **Operating Expenses:** $1,575,281 in formation and operating costs for 2024. - **Earnings per Share:** $(0.24) for the year ended December 31, 2024. **Strategic Overview:** - **Business Model:** Broad Capital Acquisition Corp is a blank check company formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. - **Initial Public Offering (IPO):** Closed on January 13, 2022, raising $100,000,000 from the sale of 10,000,000 units at $10.00 per unit. - **Trust Account:** $20,521,640 held in trust for public stockholders as of December 31, 2024. **Future Outlook:** - **Business Combination:** The company is actively seeking a suitable target for a business combination. The termination date for completing a business combination has been extended to January 13, 2026. - **Redemption Rights:** Public stockholders have the right to redeem their shares for a pro-rata portion of the trust account if the company does not complete a business combination by the termination date. **Risk Factors:** - **Market Risks:** The company faces risks related to completing a business combination, including market conditions, regulatory approvals, and competition. - **Financial Risks:** The company's ability to complete a business combination is dependent on its available financial resources and the terms of the business combination. - **Operational Risks:** The company's success is dependent on its management team's ability to identify and execute a suitable business combination. **Financial Condition:** - **Liquidity:** The company has $585 in cash in its operating bank account as of December 31, 2024. - **Capital Resources:** The company's capital resources are primarily held in the trust account and are subject to redemption rights by public stockholders. **Market Position Changes:** - **Stock Performance:** The company's securities were halted by Nasdaq on January 22, 2025, due to non-compliance with listing standards. - **Public Holdings:** As of April 14, 2025, there were 2 holders of record of the units, 6 holders of record of the shares of common stock, and 1 holder of record of the rights.