Company: COPL-UN
Filing Date: 2025-06-13
Form Type: 10-Q
Source: 0001829126-25-004483
Chunk: 9

Company: Copley Acquisition Corp
Filing Date: 2025-06-13
Form: 10-Q
Item: Part I, Item 1
Chunk 9
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 “Presentation of Financial Statements—Going Concern,” management had determined that
the Company lacks the financial resources it needs to sustain operations for a reasonable period of time, which is considered to be one
year from the date of the issuance of the condensed financial statements. These conditions raise substantial doubt about the Company’s
ability to continue as a going concern.

To address this uncertainty, the Company is currently
evaluating several options to improve its liquidity position. These include raising additional capital through loans or additional investments
from its Sponsor, shareholders, officers, directors, or third parties. The Company’s officers, directors, and Sponsor may, but are
not obligated to, provide working capital loans to the Company in such amounts and on such terms as they may determine in their sole discretion.
However, there is no assurance that the Company will be able to obtain such additional financing on commercially acceptable terms, if
at all.

If the Company is unable to secure additional
funding, it may be required to take measures to conserve liquidity, which could include, but are not limited to, curtailing operations,
suspending the pursuit of a potential Business Combination, and reducing overhead expenses.

There is no assurance that the Company’s plans to raise capital or to consummate a Business
Combination will be successful within the Completion Window. The condensed financial statements do not include any adjustments that might
result from the outcome of this uncertainty.

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying unaudited condensed financial
statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”)
for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X of the Securities
and Exchange Commission (“SEC”). Certain information or footnote disclosures normally included in financial statements prepared
in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting.
Accordingly, they do not include all the information and footnotes necessary for a complete presentation of financial position, results
of operations, or cash flows. In the opinion of Management, the accompanying unaudited condensed financial statements include all adjustments,
consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results and
cash flows for the periods presented.

The accompanying unaudited condensed financial statements should be
read in conjunction with the Company’s prospectus for its Initial Public Offering as filed with