Tue, Aug 20, 8:07 PM (147 days ago)
For the quarter ending June 30, 2024, Target Global Acquisition I Corp. reported a net income of $743,237, a decrease from $1,373,073 in the same quarter of 2023. The company generated $477,021 in interest income and $476,542 from recoveries of previously incurred costs, offset by $210,326 in general and administrative expenses. As of June 30, 2024, cash and cash equivalents totaled $5,693, with total assets amounting to $44,952,386, primarily held in a Trust Account. The Trust Account's balance increased to $44,901,194 from $43,419,605 at year-end 2023. The company has extended the deadline for completing a business combination to December 9, 2024, allowing for monthly extensions thereafter. However, liquidity concerns persist, with a working capital deficit of $2,051,108. The company has not commenced operations and relies on funds from its Sponsor for operational costs. Risks include potential delisting from Nasdaq and regulatory hurdles related to foreign ownership. Overall, the financial health indicates a cautious outlook, with significant reliance on future business combinations for revenue generation.