Wed, May 15, 9:14 PM (232 days ago)
Roth CH Acquisition V Co. reported a net loss of $121,197 for Q1 2024, primarily due to $285,913 in general and administrative expenses. The company generated $222,398 in interest income from marketable securities held in the Trust Account. Cash used in operating activities was $456,713. The company had $17.3 million in cash and marketable securities in the Trust Account and $56,435 in cash outside of it. Current liabilities increased to $3.1 million, driven by accrued expenses and a promissory note. The company extended its period to complete a business combination until December 3, 2024, and faces liquidity risks, requiring additional capital to avoid liquidation. An agreement to merge with New Era Helium Corp. was signed, with the deal contingent on several conditions, including shareholder approvals and raising $45 million in private placement funding. The company also faces potential Nasdaq delisting issues.