Thu, Aug 15, 1:22 PM (152 days ago)
For Q2 2024, Alchemy Investments Acquisition Corp 1 reported a net income of $1,313,741, driven by a gain of $1,591,454 from investments held in a Trust Account, compared to $571,037 in Q2 2023. Operating costs increased to $279,191 from $260,699 year-over-year. For the six months ending June 30, 2024, net income reached $2,727,570, significantly higher than $570,816 in the same period last year, attributed to increased investment gains. As of June 30, 2024, total assets were $124,592,023, with $123,830,000 in the Trust Account. The company holds $572,396 in cash outside the Trust Account, facing a working capital deficit of $723,703. Management expressed concerns about liquidity, indicating uncertainty about continuing operations for at least one year without a successful business combination, which must occur by November 9, 2024, to avoid mandatory liquidation. The report highlights risks from geopolitical events and market volatility that may impact future operations and financing efforts.