Wed, Jun 11, 10:04 AM (12 days ago)
**ShoulderUp Technology Acquisition Corp. (SUAC) Q1 2025 Financial Summary** **Financial Health & Performance:** - **Revenue:** No operating revenue generated; non-operating income from interest on IPO proceeds. - **Profit Margins:** Net loss of $4.5 million for Q1 2025, primarily due to changes in fair value of derivative liability and general administrative expenses. - **Cash Flow:** Net cash used in operating activities was $332,440; cash provided by investing activities was $14,462; cash provided by financing activities was $285,538. - **Earnings Changes:** Net loss increased significantly due to changes in fair value of derivative liability and interest and penalties. **Quarterly Performance Discussion:** - **Trends:** Continued focus on identifying and evaluating potential business combinations; multiple extensions of the deadline to complete a business combination. - **Uncertainties:** Significant doubt about the company's ability to continue as a going concern due to liquidity conditions and the passed mandatory liquidation date. - **Future Operations Impact:** The company's future operations depend on the successful completion of a business combination. **Key Metrics:** - **Cash on Hand:** $400,093 in operating bank account; $5,599,323 in Trust Account. - **Working Capital Deficit:** Approximately $6.3 million. - **Liquidity Needs:** $600,000 in subscription receivable to satisfy liquidity needs. **Ticker:** SUAC **Note:** The company is an emerging growth company and has elected not to opt out of the extended transition period for complying with new or revised financial accounting standards.