Thu, Jul 18, 8:06 PM (51 days ago)
Inception Growth Acquisition Limited filed an amended Quarterly Report (Form 10-Q/A) for the period ending June 30, 2023, to correct previously reported financial statements. Key amendments include a reduction of deferred underwriting compensation by $337,500 to align with contractual limits and the reclassification of non-redemption agreement expenses to profit & loss items. These adjustments did not impact cash, revenue, or liquidity. The company's financial health remains stable with $47.5 million in total assets, primarily from cash and investments in a trust account. The company reported a net income of $255,065 for the six months ended June 30, 2023, compared to a net loss of $381,831 for the same period in 2022, driven by dividend and interest income. The company faces substantial doubt about its ability to continue as a going concern if it does not complete a business combination by September 13, 2023.