Company: DTSQ
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001417
Chunk: 1249

Company: DT Cloud Star Acquisition Corp
Filing Date: 2025-03-31
Form: 10-K
Item: Item 10
Chunk 1249
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, 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.

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”). The Promissory Note is non-interest-bearing and payable on the date
which the Company consummates an initial business combination.

As
of December 31, 2024 and 2023, the principal amount due and owing under the Promissory Note are $nil, respectively.

Due
to Related Party

As
of December 31, 2024 and 2023, the Company had a temporary advance of $84,500 and $8,756 from the Sponsor, respectively. The balance
is unsecured, interest-free and has no fixed terms of repayment.

    F-15

DT
CLOUD STAR ACQUISITION CORPORATION

NOTES
TO AUDITED FINANCIAL STATEMENTS

Administrative
Services Arrangement

An
affiliate of the Sponsor will agree that, commencing from the date that the Company’s securities are first listed on NASDAQ through
the earlier of the Company’s consummation of a Business Combination and its liquidation, to make available to the Company certain
general and administrative services, including office space, administrative and support services, as the Company may require from time
to time. The Company has agreed to pay the affiliate of the Sponsor $10,000 per month for these services commencing on the closing date
of this offering for 15 months. For the year ended December 31, 2024, the Company incurred $50,000 for these services in total, included
in General and administrative expenses.

Working
Capital Loans

In
order to finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor or certain of
the Company’s directors and officers may, but are not obligated to, loan the Company funds as may be required (“Working Capital
Loans”). If the Company completes a Business Combination, the Company would repay the Working Capital Loans out of the proceeds
of the Trust Account released to the Company. Otherwise, the Working Capital Loans would be repaid only out of funds held outside the
Trust Account. In the event that a Business Combination does not close, the Company may use a portion