Fri, Sep 13, 10:05 AM (99 days ago)
AA Mission Acquisition Corp. (the "Company") reported its financial results for the quarter ending June 30, 2024. The Company, a blank check firm, raised $300,000 in its IPO on August 2, 2024, with an additional $45,000 from an over-allotment option exercised on September 4, 2024. As of June 30, 2024, the Company had total assets of $628,181, primarily due to deferred offering costs of $579,586. The Company reported a net loss of $118,731 for the quarter, totaling $125,381 since inception in February 2024. The Company has a working capital deficit of $679,967 and anticipates significant ongoing expenses related to being publicly traded and pursuing business combinations. The cash flow remains constrained, with no cash or cash equivalents at the quarter's end. Future operations hinge on successfully completing a business combination within 18 months from the IPO, or a potential liquidation if unsuccessful. The financial statements reflect substantial uncertainties regarding the Company's ability to continue as a going concern, necessitating careful monitoring of liquidity and capital resources.