Thu, May 15, 8:52 PM (59 days ago)
**Eureka Acquisition Corp (EURKU) Q1 2025 Financial Summary** **Company Overview:** Eureka Acquisition Corp is a blank check company incorporated in the Cayman Islands, focused on identifying and completing a business combination with one or more target businesses, initially in Asia. **Financial Performance (Q1 2025 vs. Q1 2024):** - **Revenue:** No revenue generated; the company is in the pre-operational phase. - **Net Income:** $407,876 (Q1 2025) vs. -$27,080 (Q1 2024) - **Profit Margins:** Not applicable due to lack of revenue. - **Cash Flow:** Net cash used in operating activities was -$315,590 (Q1 2025) vs. -$94,175 (Q1 2024). - **Earnings Changes:** Significant improvement in net income due to interest earned on investments held in the Trust Account. **Key Financial Metrics:** - **Cash and Cash Equivalents:** $354,762 (March 31, 2025) vs. $670,352 (September 30, 2024). - **Total Assets:** $59,831,188 (March 31, 2025) vs. $58,843,984 (September 30, 2024). - **Total Liabilities:** $87,033 (March 31, 2025) vs. $49,723 (September 30, 2024). - **Shareholders' Equity:** $1,117,672 (March 31, 2025) vs. $2,864,986 (September 30, 2024). **Quarterly Performance Discussion:** - The company's net income for Q1 2025 was primarily driven by interest earned on investments held in the Trust Account. - General and administrative expenses increased to $186,727 in Q1 2025 from $27,080 in Q1 2024. - The company has not yet identified a target business for its initial business combination. **Trends and Uncertainties:** - The company faces significant uncertainties related to identifying and completing a business combination within the required timeframe. - Geopolitical risks, including trade tensions and global conflicts, may impact the company's ability to consummate a business combination. - The company's ability to raise additional financing is uncertain and may be impacted by market volatility. **Future Operations Impact:** - The company must complete its initial business combination by July 3, 2025 (or up to January 3, 2026 with extensions), or it will trigger an automatic winding up and liquidation. - If the company fails to complete a business combination, public shareholders will have the right to redeem their shares for a pro-rata share of the funds held in the Trust Account. - The company's management has broad discretion over the application of the net proceeds from the IPO and private placement, which may impact future operations.