Company: FSHPU
Filing Date: 2025-03-04
Form Type: 10-K
Source: 0001829126-25-001450
Chunk: 447

Company: Flag Ship Acquisition Corp
Filing Date: 2025-03-04
Form: 10-K
Item: Item 1C
Chunk 447
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    Dividend income earned in investments held in trust account 
     (1,799,136) 
     - 
  
    Change in operating assets and liabilities 

    Deferred offering cost 
     30,000  
     - 
  
    Prepayments and deposits 
     (91,399) 
     133 
  
    Accrued liabilities 
     34,370  
     (4,512)
  
    Due to related party 
     40,000  
     - 
  
    Net cash used in operating activities 
     (876,327) 
     (66,778)

    Cash flows from investing activities: 

    Proceeds deposited in Trust Account 
     (69,000,000) 
     - 
  
    Net cash used in investing activities 
     (69,000,000) 
     - 

    Cash flows from financing activities: 

    Proceed from public offering, net of offering costs 
     67,252,567  
     - 
  
    Proceed from private placement 
     2,380,000  
     - 
  
    Advances from a related party 
     637,851  
     580 
  
    Repayment to a related party 
     (433,554) 
     - 
  
    Net cash provided by financing activities 
     69,836,864  
     580 

    NET CHANGE IN CASH 
     (39,463) 
     (66,198)
  
    CASH, BEGINNING OF PERIOD 
     116,210  
     182,408 
  
    CASH, END OF PERIOD 
    $76,747  
    $116,210 

    NON-CASH INVESTING AND FINANCING ACTIVITIES: 

    Initial classification of ordinary shares subject to possible redemption 
    $64,667,291  
    $- 
  
    Allocation of offering costs to ordinary shares subject to possible redemption 
    $3,231,709  
    $- 
  
    Accretion of carrying value to redemption value 
    $7,564,418  
    $- 
  
    Subsequent remeasurement of ordinary shares subject to possible redemption 
    $1,799,136  
    $- 
  
    Accrued underwriting compensation 
    $1,725,000