Company: EMCRF
Filing Date: 2025-12-10
Form Type: 10-Q
Source: 0001493152-25-027065
Chunk: 109

Company: Embrace Change Acquisition Corp.
Filing Date: 2025-12-10
Form: 10-Q
Item: Part I, Item 3
Chunk 109
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As
a smaller reporting company we are not required to make disclosures under this Item.

Item
4. Controls and Procedures

Evaluation
of Disclosure Controls and Procedures

Disclosure
controls and procedures are designed to ensure that information required to be disclosed by us in our Exchange Act reports is recorded,
processed, summarized, and reported within the time periods specified in the SEC’s rules and forms, and that such information is
accumulated and communicated to our management, including our principal executive officer and principal financial officer or persons
performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

Under
the supervision and with the participation of our management, including our principal executive officer and principal financial and accounting
officer, we conducted an evaluation of the effectiveness of our disclosure controls and procedures as of the fiscal quarter ended September
30, 2025, as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act. Based on this evaluation, our principal executive
officer and principal financial and accounting officer have concluded that during the period covered by this report, our disclosure controls
and procedures were not effective.

Changes
in Internal Control over Financial Reporting

During
the fiscal quarter ended September 30, 2025, there has been no change in our internal control over financial reporting that has materially
affected, or is reasonably likely to materially affect, our internal control over financial reporting.

PART
II — OTHER INFORMATION

Item
1. Legal Proceedings

None.

Item
1A. Risk Factors

Factors
that could cause our actual results to differ materially from those in this Quarterly Report include the risk factors described in the
registration statements on Form S-1 (File Nos. 333-258221 and 333-265184) for our IPO filed with the SEC. As of the date of this Quarterly
Report, there have been no material changes to the previously disclosed risk factors.

Item
2. Unregistered Sales of Equity Securities and Use of Proceeds

We
issued an aggregate of 1,437,500 ordinary shares to certain of our initial shareholders on April 20, 2022. We subsequently declared a
share dividend of 0.50 shares for each outstanding share, resulting in 2,156,250 founder shares being outstanding. On July 1, 2022, the
sponsor surrendered an aggregate of 287,500 founder shares for no consideration, which surrender was effective retroactively, resulting
in 1,868,