Company: IBACR
Filing Date: 2025-02-13
Form Type: 10-Q
Source: 0001493152-25-006426
Chunk: 1

Company: IB Acquisition Corp.
Filing Date: 2025-02-13
Form: 10-Q
Item: Part I, Item 1
Chunk 1
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    Retained earnings 
     934,931  
     1,111,372 
  
    Total Stockholders’ Equity 
     935,356  
     1,111,797 
  
    Total Liabilities and Stockholders’ Equity 
    $120,831,550  
    $119,800,388 

The
accompanying notes are an integral part of the unaudited financial statements.

 1 

IB
ACQUISITION CORP.

STATEMENTS
OF OPERATIONS

(UNAUDITED)

    For the Three Months Ended   
    For the Three Months Ended  

    December 31, 2024  
    December 31, 2023 
  
    General and administrative expenses 
    $176,441  
    $87,491 
  
    Loss from operations 
     (176,441) 
     (87,491)

    Other income: 

    Interest earned on marketable securities held in Trust Account 
     1,371,530  
     — 
  
    Other income 
     1,371,530  
     — 

    Income (Loss) before provision for income taxes 
     1,195,089  
     (87,491)
  
    Provision for income taxes 
     (288,021) 
     — 
  
    Net income (loss) 
    $907,068  
    $(87,491)

    Basic and diluted weighted average common stock outstanding, redeemable 
     11,500,000  
     — 

    Basic and diluted net income per common stock, redeemable 
    $0.06  
    $— 
  
    Basic and diluted weighted average common stock outstanding, non-redeemable(1) 
     4,249,090  
     2,820,513 
  
    Basic and diluted net income (loss) per common stock, non-redeemable 
    $0.06  
    $(0.03)

    (1)
    Excluded
    an aggregate of 423,077 shares subject to possible forfeiture at December 31, 2023.

The
accompanying notes are an integral part of the unaudited financial statements.

 2 

IB
ACQUISITION CORP.

STATEMENTS
OF CHANGES IN STOCKHOLDERS’ EQUITY (DEFICIT)

(