Company: JACS-RI
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001213900-25-107171
Chunk: 33

Company: Jackson Acquisition Co II
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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, capital lease
obligations, operating lease obligations or long-term liabilities, other than an agreement to pay an aggregate of $10,000 per month for
office space and administrative and support services. For the three and nine months ended September 30, 2025, we incurred $30,000 and
$90,000 for these services, respectively. At September 30, 2025 and December 31, 2024, we owed $97,000 and $7,000, respectively, for these
services.

We have engaged Roth as an advisor in connection
with its Business Combination. We will pay Roth a cash fee (the “Business Combination Marketing Fee”) for such services upon
the consummation of its initial Business Combination in an amount up to 4.0% of the gross proceeds of the Initial Public Offering, an
aggregate of up to $9,200,000 after the underwriters exercised their over-allotment option in full on December 11, 2024. As of September
30, 2025 and December 31, 2024, no Business Combination Marketing Fee has been incurred or recorded.

Critical Accounting Estimates

The preparation of unaudited condensed financial
statements and related disclosures in conformity with accounting principles generally accepted in the United States of America requires
management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets
and liabilities at the date of the unaudited condensed financial statements, and income and expenses during the periods reported. Actual
results could materially differ from those estimates. At September 30, 2025, we have not identified any critical accounting estimates.

Recent Accounting Pronouncements

In November 2024, the FASB issued Accounting Standards
Update (“ASU”) 2024-03, “Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic
220-40): Disaggregation of Income Statement Expenses”, requiring public entities to disclose additional information about specific
expense categories in the notes to the financial statements on an interim and annual basis. ASU 2024-03 is effective for fiscal years
beginning after December 15, 2026, and for interim periods beginning after December 15, 2027, with early adoption permitted. The Company
is currently evaluating the impact of adopting ASU 2024-03.

Management does not believe that any other recently
issued, but not yet effective, accounting standards, if currently adopted, would