Company: ONCHW
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075689
Chunk: 9

Company: 1RT Acquisition Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 9
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 reporting.
Accordingly, they do not include all the information and footnotes necessary for a complete presentation of financial positions, results
of operations, or cash flows. In the opinion of management, the accompanying unaudited condensed financial statements include all adjustments,
consisting of a normal recurring nature, which are necessary for a fair presentation of the financial positions, operating results and
cash flows for the periods presented.

The accompanying unaudited condensed financial
statements should be read in conjunction with the Company’s prospectus for its Initial Public Offering as filed with the SEC on
July 1, 2025, as well as the Company’s Current Report on Form 8-K, as filed with the SEC on July 10, 2025. The interim results
for the three and six months ended June 30, 2025, are not necessarily indicative of the results to be expected for the year ending December
31, 2025 or for any future periods.

Liquidity and Capital Resources

The Company’s liquidity needs up to June 30, 2025 had been satisfied through the loan under an unsecured promissory note from the
Sponsor of up to $300,000 (see Note 4). At June 30, 2025, the Company had no cash and working capital deficit of $573,027.

In connection with the Company’s assessment of going concern considerations in accordance with Accounting Standards Update 2014-15,
“Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern,” as of June 30, 2025, the Company
does not have sufficient liquidity to meet its current obligations. However, if the estimate of the costs of identifying a target business,
undertaking in-depth due diligence and negotiating a Business Combination are less than the actual amount necessary to do so, the Company
may have insufficient funds available to operate its business prior to the initial Business Combination. Management has determined that
upon consummation of the Initial Public Offering and the sale of the Private Placement Warrants, the Company has sufficient funds to finance
the working capital needs of the Company within one year from the date of issuance of these condensed financial statements. At July 3,
2025, the Initial Public Offering closing date, the Company had $1,142,890 cash and working capital of $758,162.

Emerging Growth Company

The Company is an “emerging growth company,”
as defined in Section 2(a) of the Securities Act,