Company: DTSQ
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001641172-25-022963
Chunk: 54

Company: DT Cloud Star Acquisition Corp
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 8
Chunk 54
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 compensation. The shares were accounted
for as of July 26, 2024, and received by A.G.P.

Private
Placement

On
July 26, 2024, the Company consummated the sale of 206,900 Private Placement Units at a price of $10.00 per Private Placement Unit in
a private placement to the Sponsor, generating gross proceeds of $2,069,000 to the Company.

Promissory
Note — Related Party

On
December 31, 2023, the Company issued an unsecured promissory note to the Sponsor, pursuant to which the Company may borrow up to an
aggregate principal amount of $300,000 (the “first Promissory Note”). The first Promissory Note is non-interest-bearing and
payable on the earlier of (i) December 31, 2024 and (ii) the date on which the Company consummates an IPO or the date on which the Company
determines not to conduct the IPO. The first Promissory Note terminated and paid back after consummation of IPO on July 29, 2024.

On
October 28, 2024, the Company issued an unsecured promissory note to the Sponsor, pursuant to which the Company may borrow up to an aggregate
principal amount of $300,000. The Promissory Note is non-interest-bearing and payable on the date which the Company consummates an initial
business combination.

As
of June 30, 2025 and December 31, 2024, the principal amount due and owing under the Promissory Note were nil, respectively.

On
July 29, 2025, the Company entered into a letter agreement to the Promissory Note with the Sponsor, pursuant to which the Company and
the Sponsor agreed to terminate the Promissory Note and confirmed that the outstanding amount that the Company borrowed under the Promissory
Note was nil.

Due
to Related Party

As
of June 30, 2025 and December 31, 2024, the Company had a temporary advance of $54,500 and $84,500 from the Sponsor, respectively. The
balance is unsecured, interest-free and has no fixed terms of repayment.

    15

DT
CLOUD STAR ACQUISITION CORPORATION

NOTES
TO UNAUDITED FINANCIAL STATEMENTS

Administrative
Services Arrangement

An
affiliate of the Sponsor will agree that,