10-Q - Inception Growth Acquisition Ltd (0001866838) (Filer)

Tue, May 20, 8:03 PM (34 days ago)

**Inception Growth Acquisition Limited (IGTAU) Q1 2025 Financial Summary** **Financial Health:** - **Cash Position:** $2,791 (down from $4,295 in Q4 2024). - **Trust Account:** $3,677,297 (down from $3,605,750 in Q4 2024). - **Total Assets:** $3,680,088. - **Total Liabilities:** $6,577,836. - **Shareholders' Deficit:** $6,575,045. **Performance Metrics:** - **Revenue:** No operating revenue generated. - **Net Loss:** $128,366 (compared to a net income of $128,029 in Q1 2024). - **Profit Margins:** Negative due to operational expenses and no revenue. - **Cash Flow:** Net cash used in operating activities was $60,109. **Earnings Changes:** - **Q1 2025:** Net loss of $128,366 due to formation and administrative expenses. - **Q1 2024:** Net income of $128,029 primarily from dividend income. **Quarterly Performance Discussion:** - **Operational Activities:** Continued evaluation of business combination candidates. - **Cash Flow:** Negative cash flow due to operational expenses and no revenue. - **Trust Account:** Funds used for extensions and potential business combinations. **Trends and Uncertainties:** - **Business Combination:** Extensions granted to June 13, 2025. - **Liquidity:** Significant doubt about continuing as a going concern if a business combination is not completed. - **Future Operations:** Dependent on completing a business combination to generate revenue and positive cash flow. **Future Operations Impact:** - **Success:** Completion of a business combination will provide revenue and potential growth. - **Failure:** Liquidation and dissolution, with public shares redeemed at a pro-rata portion of the Trust Account. **Ticker:** IGTAU **Note:** Amounts are in thousands, 000s.