Company: PGACR
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-002878
Chunk: 599

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-03-27
Form: 10-K
Item: Item 7
Chunk 599
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Recent Accounting Pronouncements

In November 2023, the FASB issued ASU 2023-07, Segment
Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The amendments in this ASU require disclosures,
on an annual and interim basis, of significant segment expenses that are regularly provided to the chief operating officer decision maker
(“CODM”), as well as the aggregate amount of other segment items included in the reported measure of segment profit or loss.
The ASU requires that a public entity disclose the title and position of the CODM and an explanation of how the CODM uses the
reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. Public entities
will be required to provide all annual disclosures currently required by Topic 280 in interim periods, and entities with a single
reportable segment are required to provide all the disclosures required by the amendments in this ASU and existing segment disclosures
in Topic 280. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal
years beginning after December 15, 2024, with early adoption permitted. The Company adopted this ASU for the year ended
December 31, 2024 and there was no material effect on the Company’s financial statements.

Management
does not believe that any recently issued, but not effective, accounting standards, if currently adopted, would have a material effect
on the Company’s financial statements.

14

Item
7A. Quantitative and Qualitative Disclosures About Market Risk

Not
applicable.

Item
8. Financial Statements and Supplementary Data.

Reference
is made to Pages F-1 through F-17 comprising a portion of this Annual Report on Form 10-K.

Item
9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure.

Not
applicable.

Item
9A. Controls and Procedures.

Evaluation
of Disclosure Controls and Procedures

Disclosure
controls are procedures that are designed with the objective of ensuring that information required to be disclosed in our reports filed
under the Securities Exchange Act of 1934, as amended (the “Exchange Act”(, such as this Report, is recorded, processed, summarized,
and reported within the time period specified in the SEC’s rules and forms. Disclosure controls are also designed with the objective
of ensuring that such information is accumulated and communicated to our management