Company: IBACR
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010982
Chunk: 26

Company: IB Acquisition Corp.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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 liability is a market in which transactions
    for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis.

    Level
    2:
    Observable
    inputs other than Level 1 inputs. Examples of Level 2 inputs include quoted prices in active markets for similar assets or liabilities
    and quoted prices for identical assets or liabilities in markets that are not active.

    Level
    3:
    Unobservable
    inputs based on our assessment of the assumptions that market participants would use in pricing the asset or liability.

As
of March 31, 2025, assets held in the Trust Account were comprised of $120,299,544 in a money market fund that is invested primarily
in U.S. Treasury Securities. For the period ended March 31, 2025, the Company did not withdraw any interest earned on the Trust Account.

As
of September 30, 2024, assets held in the Trust Account were comprised of $118,601,873 in a money market fund that is invested primarily
in U.S. Treasury Securities. Through September 30, 2024, the Company has not withdrawn any of the interest earned on the Trust Account.

    11

IB
ACQUISITION CORP.

NOTES
TO FINANCIAL STATEMENTS

MARCH
31, 2025

(Unaudited)

The
following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring
basis as of March 31, 2025, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair
value.:

 SCHEDULE
OF ASSETS AND LIABILITIES MEASURED FAIR VALUE ON RECURRING BASIS

    Description 
    Level  
    March 31, 2025  
    September 30, 2024 
  
    Assets: 

    Cash and investments held in Trust Account 
     1  
    $120,299,544  
    $118,601,873 

NOTE
9. SEGMENT INFORMATION

ASC
Topic 280, “Segment Reporting,” establishes standards for companies to report in their financial statement information about
operating segments, products, services, geographic areas, and major customers. Operating segments are defined as components of an enterprise
for which separate financial information is available that is regularly evaluated by the Company’s chief operating decision maker,
or group, in deciding how to allocate resources