Wed, Aug 14, 9:29 PM (153 days ago)
For the quarter ended June 30, 2024, CSLM Acquisition Corp. reported a net income of $422,450, a decrease from $2,093,294 in the same quarter of 2023. The decline is attributed to lower realized gains on marketable securities and increased operating expenses, including legal and accounting costs. Total assets rose to approximately $53.9 million, primarily due to marketable securities held in a trust account. The company maintained a working capital deficit of $2.83 million, reflecting ongoing liquidity challenges as it has yet to commence operations or generate revenue from a business combination, which is expected to occur by October 18, 2024. The firm extended its business combination deadline, depositing $70,000 for each of twelve extensions. Cash reserves decreased to $62,710 from $138,283, raising concerns about its ability to meet future obligations. Future operations are contingent on successfully executing a merger, with potential risks including market volatility and economic uncertainty impacting performance. The company remains reliant on related party loans to address liquidity needs, highlighting the uncertainty surrounding its operational viability in the near term.