10-Q - Arogo Capital Acquisition Corp. (0001881741) (Filer)

Mon, Dec 16, 9:08 PM (27 days ago)

**Summary of Arogo Capital Acquisition Corp. (AOGO) Q3 2024 Financial Report** As of September 30, 2024, Arogo Capital Acquisition Corp. reported a significant decline in financial performance, with a net loss of $638,764 compared to a net income of $1,815,640 in the same period of 2023. This shift is attributed to increased formation and operating costs totaling $1,171,707, alongside a decrease in investment income from marketable securities. The company holds $20,025,986 in cash within a trust account, a slight increase from $19,187,175 at year-end 2023, reflecting ongoing efforts to extend the business combination deadline to December 29, 2024. The total liabilities increased to $9,149,069 from $7,659,962, primarily due to accrued expenses and other payables. Arogo's Class A common stock subject to redemption totals 1,762,409 shares, valued at $19,908,586. The company is currently traded on the OTCQB after being delisted from Nasdaq due to non-compliance with listing rules. Future operations remain uncertain, hinging on successful capital raising and business combination efforts, amidst a challenging economic landscape. The management expresses concern over the company's ability to continue as a going concern if the business combination is not completed.