Wed, May 14, 7:37 PM (38 days ago)
**Alpha Star Acquisition Corporation (ALSAF) Q1 2025 Financial Summary** Alpha Star Acquisition Corporation (ALSAF), a Cayman Islands-based blank check company, reported its Q1 2025 financial results, highlighting its ongoing efforts to complete a business combination. The company has no operational revenue, focusing instead on identifying and acquiring a target business. **Financial Performance:** - **Revenue:** $0 (no operational revenue) - **Net Loss:** $200,767 (Q1 2024: Net Income $724,045) - **Operating Expenses:** $223,812 (Q1 2024: $238,932) - **Interest Income:** $23,045 (Q1 2024: $962,977) - **Cash Flow from Operations:** -$209,766 (Q1 2024: $0) - **Cash Flow from Investing:** $10,714,317 (Q1 2024: $36,903,138) - **Cash Flow from Financing:** -$10,504,551 (Q1 2024: -$36,903,138) **Key Metrics:** - **Marketable Securities in Trust Account:** $420,581 (Q1 2024: $11,111,853) - **Cash in Escrow:** $0 (Q1 2024: $0) - **Total Assets:** $461,384 (Q1 2024: $11,113,353) - **Total Liabilities:** $3,987,816 (Q1 2024: $14,439,018) - **Stockholders' Deficit:** -$3,947,013 (Q1 2024: -$3,618,201) **Trends and Uncertainties:** - ALSAF continues to seek a business combination, with a planned merger with OU XDATA GROUP. - The company faces substantial doubt about its ability to continue as a going concern if a business combination is not completed by June 15, 2025. - ALSAF has been delisted from Nasdaq and is now trading on the OTC Pink Open Market. - The company has extended the deadline for completing a business combination multiple times, with the latest extension to June 15, 2025. **Future Operations Impact:** - ALSAF plans to use the funds in the Trust Account to complete the business combination with OU XDATA GROUP. - The company may need to raise additional capital to complete the business combination or redeem public shares. - ALSAF's ability to continue as a going concern depends on successfully completing a business combination. **Management's Discussion:** - ALSAF has no operational revenue and expects to incur increased expenses as a public company. - The company's financial condition and results of operations are subject to significant risks and uncertainties. - ALSAF's ability to complete a business combination is crucial for its future operations and financial health.