Fri, May 31, 8:02 PM (293 days ago)
Plutonian Acquisition Corp. reports a net loss of $393,098 for the quarter ending March 31, 2024, compared to a net income of $296,953 in the same period last year. The loss is primarily due to increased general and administrative expenses, rising from $186,240 to $746,269. The company has $31,453 in cash and a working capital deficit of $2,562,483. Plutonian has extended its business combination period to August 15, 2024, supported by loans totaling $630,000 from Big Tree Cloud. The company faces uncertainties in completing a business combination by the deadline, raising substantial doubt about its ability to continue as a going concern. Additionally, approximately $34.7 million will be removed from the Trust Account due to shareholder redemptions.