Thu, Apr 10, 7:11 PM (17 days ago)
**Black Hawk Acquisition Corporation (BKHAU) Q1 2025 Financial Summary** **Financial Health & Performance:** - **Revenue:** No operating revenue generated; non-operating income of $767,148 from interest on investments. - **Profit Margins:** Net income of $658,379, primarily due to interest income, compared to a net loss of $30,701 in Q1 2024. - **Cash Flow:** Net cash used in operating activities was $163,314, mainly due to interest earned on investments held in the Trust Account. - **Earnings Changes:** Significant improvement in net income due to interest earned on investments. **Key Metrics & Trends:** - **Cash Position:** $101,528 in cash as of February 28, 2025, down from $264,842 in November 2024. - **Investments:** $72,595,175 held in the Trust Account, invested in U.S. government treasury bills and money market funds. - **Expenses:** General and administrative expenses were $78,769, with related party administrative fees of $30,000. **Uncertainties & Future Operations:** - **Business Combination:** The company is in the process of identifying a target for an initial business combination, with a non-binding LOI signed on March 10, 2025. - **Liquidity:** The company has $135,561 in working capital and expects to incur significant costs in pursuing a business combination. - **Going Concern:** Management has substantial doubt about the company's ability to continue as a going concern if it fails to complete a business combination within the specified period. **Impact on Future Operations:** - **Dependent on Business Combination:** The company's future operations and financial performance will significantly depend on the successful completion of a business combination. - **Risks:** Geopolitical events and market volatility may impact the company's ability to consummate a business combination and raise necessary financing. **Ticker:** BKHAU **Note:** Amounts are in thousands, 000s.