Company: TBMC
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043357
Chunk: 4

Company: Trailblazer Merger Corp I
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 4
---
,243 
  
    Income taxes payable 
     65,055  
     330,723 
  
    Net cash used in operating activities 
     (253,950) 
     (182,106)

    Cash Flows from Investing Activities: 

    Cash withdrawn from Trust Account to pay franchise taxes 
     —  
     152,927 
  
    Extension deposit into Trust Account 
     (166,574) 
     (690,000)
  
    Net cash used in investing activities 
     (166,574) 
     (537,073)

    Cash Flows from Financing Activities: 

    Proceeds from promissory note – related party 
     394,000  
     690,000 
  
    Net cash provided by financing activities 
     394,000  
     690,000 

    Net Change in Cash 
     (26,524) 
     (29,179)
  
    Cash – Beginning of period 
     866,822  
     607,816 
  
    Cash – End of period 
    $840,298  
    $578,637 

    Cash and Restricted Cash, end of period 

    Cash 
    $37,305  
    $578,637 
  
    Cash – restricted 
     802,993  
     — 
  
    Cash and Restricted Cash – End of period 
    $840,298  
    $578,637 

    Non-Cash investing and financing activities: 

    Remeasurement of carrying value to redemption value 
    $331,404  
    $1,400,699 

The
accompanying notes are an integral part of the unaudited condensed consolidated financial statements.

4

TRAILBLAZER
MERGER CORPORATION I

NOTES TO
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

NOTE 1.
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS

Trailblazer
Merger Corporation I (the “Company”, “we”) is a blank check company incorporated in Delaware on November 12,
2021. The Company was formed for the purpose of effectuating a merger, capital stock exchange, asset acquisition, stock purchase, reorganization
or other similar business combination with one or more businesses (the “Business Combination”).

As of March 31, 2025, the Company has two subsidiaries