10-Q - Iron Horse Acquisitions Corp. (0001901203) (Filer)

Thu, May 15, 12:03 PM (40 days ago)

**Iron Horse Acquisitions Corp. (IROH) Q1 2025 Financial Summary** **Financial Health and Performance:** - **Revenue:** No revenue generated as the company has not yet commenced operations. - **Profit Margins:** Net income for Q1 2025 was $83.76K, down from $473.42K in Q1 2024. This includes formation and operational costs of $519.96K and interest earned on marketable securities held in the Trust Account of $752.93K. - **Cash Flow:** Cash used in operating activities was $409.29K for Q1 2025. The company had $73.57M in the Trust Account and $88K outside the Trust Account as of March 31, 2025. - **Earnings Changes:** Net income per common share, redeemable shares was $0.01 for Q1 2025, down from $0.05 in Q1 2024. **Quarterly Performance Discussion:** - **Operational Costs:** The company incurred $519.96K in formation and operational costs for Q1 2025. - **Interest Income:** The company earned $752.93K in interest on marketable securities held in the Trust Account. - **Taxes:** The company had a provision for income taxes of $149.21K for Q1 2025. **Trends and Uncertainties:** - **Business Combination:** The company is in the process of completing a business combination with Zhong Guo Liang Tou Group Limited. The completion of this transaction is subject to various conditions and uncertainties. - **Liquidity:** The company has a working capital deficit of $3.28M and is dependent on completing a business combination to continue operations. - **Geopolitical Risks:** Global markets are experiencing volatility due to geopolitical instability, which could impact the company's search for a business combination and the target business's operations. **Future Operations Impact:** - **Business Combination:** If the business combination is not completed by June 29, 2025, the company will redeem 100% of its outstanding public shares and seek to dissolve and liquidate. - **Funding:** The company may need to raise additional funds to meet expenditures required for operating its business prior to completing a business combination. - **Going Concern:** The company's financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should the company be unable to continue as a going concern.