Tue, Apr 15, 6:57 PM (12 days ago)
### Evergreen Corporation (EGUVF) Q1 2025 Financial Summary **Financial Health and Performance:** - **Revenue:** Evergreen Corporation has not generated any operating revenue as it has not completed its initial business combination. - **Profit Margins:** The company reported a net income of $83,608 for Q1 2025, primarily from interest earned on cash held in trust, offset by formation and operating costs of $404,638. - **Cash Flow:** The company used $358,977 in operating activities for Q1 2025. Cash flows from investing activities were positive at $29,206,606, mainly due to cash withdrawn from the trust account for redemption. Cash flows from financing activities were negative at $28,841,606, primarily due to the redemption of ordinary shares. **Earnings Changes:** - **Q1 2025 vs. Q1 2024:** Net income decreased significantly from $833,693 in Q1 2024 to $83,608 in Q1 2025. This decline is attributed to lower interest income and higher operating costs. **Trends and Uncertainties:** - **Business Combination:** The company is in the process of completing a business combination with Forekast Group. The aggregate consideration for the acquisition is $105,000,000, payable in newly issued ordinary shares. - **Liquidity and Going Concern:** The company faces substantial doubt about its ability to continue as a going concern due to its liquidity condition and mandatory liquidation if it does not complete a business combination within the specified period. - **Shareholder Redemptions:** The company has experienced multiple shareholder redemptions, with 2,456,657 ordinary shares redeemed in Q1 2025. **Future Operations Impact:** - **Post-Combination:** Upon completion of the business combination, the company will be renamed "Forekast Group" and will focus on vision sensing technologies. - **Financial Strategy:** The company plans to use funds from the trust account and additional financing to support its operations and growth strategies post-combination. **Key Metrics:** - **Cash Held in Trust:** As of February 28, 2025, the company held $26,693,780 in the trust account. - **Total Assets:** Total assets were $26,734,679 as of February 28, 2025. - **Total Liabilities:** Total liabilities were $11,690,274 as of February 28, 2025. **Conclusion:** Evergreen Corporation is in a critical phase of completing its business combination, which will significantly impact its future operations and financial health. The company's ability to secure additional financing and complete the combination within the specified period will be crucial for its continued existence and growth.