Thu, Nov 14, 3:16 PM (60 days ago)
**Summary of Hudson Acquisition I Corp. (HUDA) Q3 2024 Financial Results** For the quarter ending September 30, 2024, Hudson Acquisition I Corp. reported a net loss of $488,195, a slight increase from the $443,146 loss in Q3 2023. Operating expenses decreased to $306,524 from $678,504, and the company incurred a franchise tax expense of $18,600. Cash and marketable securities held in the Trust Account dropped significantly to $1,109,108 from $26,036,953 at year-end 2023, reflecting substantial redemptions. Total liabilities increased to $7,350,830, with a notable rise in accounts payable and accrued liabilities. The company has a working capital deficit of $2,250,765 and is under pressure to complete a business combination by October 18, 2025, after several extensions. It has received a delisting notice from Nasdaq but has appealed and is working to regain compliance. The company continues to face uncertainties regarding its ability to execute an Initial Business Combination, which could impact its future operations and financial stability. Hudson intends to utilize funds in the Trust Account primarily for this purpose while managing tax liabilities and operational expenses.