Mon, May 20, 9:06 PM (300 days ago)
Breeze Holdings Acquisition Corp. reported a significant net loss of $22,015,739 for the quarter ended March 31, 2024, primarily due to a $21,132,500 loss from changes in the fair value of warrant liabilities and operating costs of $1,047,041. The company’s cash position outside the trust account was $4,487, with a working capital deficit of $8,985,992. Breeze Holdings has extended its timeline for completing a business combination multiple times, with the current extension lasting until June 26, 2024. The company is in the process of merging with TV Ammo, Inc., expected to close in the third quarter of 2024. Management has raised concerns about the company’s ability to continue as a going concern due to insufficient funds to cover planned activities and ongoing costs. The company may seek additional financing through loans or equity to meet its obligations.