Mon, Sep 23, 8:13 PM (89 days ago)
Distoken Acquisition Corporation's Amendment No. 1 to its Form 10-K for the year ended December 31, 2023, primarily corrects an error in the "Report of Independent Registered Public Accounting Firm" related to balance sheet identification. Financially, the Company reported total assets of $41,660,832, a significant increase from $680,816 in 2022, driven by $41,440,980 in a Trust Account. Operating expenses totaled $1,168,926, leading to a net income of $1,304,731, compared to a loss of $2,155 in the prior year. Earnings per share were $0.16 for both redeemable and non-redeemable shares. The Company faces liquidity challenges and substantial doubt about its ability to continue as a going concern without a successful business combination by November 18, 2024. The amendment does not alter any previously reported financial data or events post the original filing. The Company continues to seek a merger or acquisition target while managing risks associated with its operational timeline and financial commitments.