Company: CSLMF
Filing Date: 2025-07-03
Form Type: DEFM14A
Source: 0001193125-25-155514
Chunk: 414

Company: CSLM ACQUISITION CORP.
Filing Date: 2025-07-03
Form: DEFM14A
Chunk 414
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   |    306 |   |
| Adjusted EBITDA               |                | $                       |  (7,097 | ) |     | $ | (2,977 | ) |

| 1. | Represents change in fair value of convertible notes and warrant liability. |

| 2. | Represents professional service fees related to the proposed SPAC transaction in 2023. |

Liquidity and Capital Resources as of March 31, 2025 Liquidity is the ability of a company to generate funds to support its current and future operations, satisfy its obligations, and otherwise operate on an ongoing basis. Significant factors in the management of liquidity are funds generated by operations, levels of accounts receivable and accounts payable and capital expenditures. We formally evaluated our liquidity and cash position most recently in 2025 when preparing our 2025 interim financial statements. During this process we concluded that the continuation of the Company as a going concern is dependent upon the continued financial support from our stockholders and debt holders. Specifically, continuation is contingent on our ability to obtain necessary equity or debt financing to continue operations, and ultimately our ability to generate profit from sales and positive operating cash flows, which is not assured. Our plans include obtaining future debt and equity financings associated with the close of the Merger. If we are not successful in completing these planned transactions, it may be required to reduce our spending rate to align with expected revenue levels and cash reserves, although there can be no guarantee that we will be successful in doing so. Accordingly, we may be required to raise additional cash through debt or equity transactions. We may not be able to secure financing in a timely manner or on favorable terms, if at all. As a result, our plans cannot be considered probable and thus do not alleviate substantial doubt about our ability to continue as a going concern. The accompanying unaudited condensed consolidated interim financial statements have been prepared assuming that we will continue as a going concern and do not include any adjustments that might result from the outcome of this uncertainty. As of March 31, 2025, we had cash of approximately $0.43 million and a net working capital deficit of approximately $22.13 million. As of March 31, 2025, we had an accumulated deficit of approximately $34.47 million and a net loss of $0.25 million. As of December 31, 2024, we had cash of approximately $0.5 million and a net working capital deficit of approximately $16.19 million. As