Company: BLUWU
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023451
Chunk: 6

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 6
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 acquisition plans. The Company
lacks the financial resources it needs to sustain operations for a reasonable period of time, which is considered to be one year from
the issuance date of the financial statement. Although no formal agreement exists, the Sponsor is committed to extend Working Capital
Loans (defined in Note 6) as needed. The Company cannot assure that its plans to consummate an initial Business Combination will be successful.

These
factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern one year from the date
these financial statements are issued. These financial statements do not include any adjustments that might result from the outcome of this
uncertainty.

Note
2 — Significant Accounting Policies

Basis
of Presentation

The
accompanying financial statement is presented in conformity with accounting principles generally accepted in the United States of
America (“U.S. GAAP”) and pursuant to the rules and regulations of the United States Securities and Exchange Commission
(the “SEC”). In the opinion of Company management, the accompanying unaudited condensed
financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair statement of the
financial position, operating results and cash flows for the periods presented.

Emerging
Growth Company Status

The
Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our
Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements
that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required
to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding
executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory
vote on executive compensation and shareholder approval of any golden parachute payments not previously approved.

Further,
Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting
standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do
not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting
standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and