Company: TBMC
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002139
Chunk: 614

Company: Trailblazer Merger Corp I
Filing Date: 2025-03-25
Form: 10-K
Item: Item 4
Chunk 614
---
 at any time, in whatever amount they deem reasonable in their sole
discretion, to meet our working capital needs. Accordingly, we may not be able to obtain additional financing. If we are unable to raise
additional capital, we may be required to take additional measures to conserve liquidity, which could include, but not necessarily be
limited to, curtailing operations, suspending the pursuit of a potential transaction, and reducing overhead expenses. We cannot provide
any assurance that new financing will be available to us on commercially acceptable terms, if at all.

14

In connection with the Company’s assessment
of going concern considerations in accordance with the authoritative guidance in Financial Accounting Standard Board (“FASB”)
Accounting Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue
as a Going Concern,” management has determined that the Company currently lacks the liquidity it needs to sustain operations for
a reasonable period of time, which is considered to be at least one year from the date that the financial statements are issued as it
expects to continue to incur significant costs in pursuit of its acquisition plans. In addition, the Company has until March 31, 2025
(September 30, 2025, if extended by the full amount of time), as extended, to consummate a Business Combination. It is uncertain that
the Company will be able to consummate a Business Combination by this time. If a Business Combination is not consummated by March 31,
2025 (September 30, 2025, if extended by the full amount of time), there will be a mandatory liquidation and subsequent dissolution. Management
has determined that mandatory liquidation, should a Business Combination not occur, and potential subsequent dissolution and the liquidity
issue raise substantial doubt about the Company’s ability to continue as a going concern for one year from the date the financial
statements are issued. No adjustments have been made to the carrying amounts of assets or liabilities should the Company be required to
liquidate after March 31, 2025 (September 30, 2025, if extended by the full amount of time). The Company intends to complete a Business
Combination with Cyabra before the mandatory liquidation date. The Company is within 12 months of its mandatory liquidation date as of
the time of filing of this Annual Report on Form 10-K. 

Off-Balance Sheet Arrangements

We did not have any off-balance sheet arrangements