Company: TLGYF
Filing Date: 2025-09-29
Form Type: S-4
Source: 0001213900-25-092592
Chunk: 562

Company: TLGY ACQUISITION CORP
Filing Date: 2025-09-29
Form: S-4
Chunk 562
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 Concern,” management has determined that the Company’s liquidity condition raises substantial doubt about the Company’s ability to continue as a going concern through a year from the date these financial statements are available to be issued. Note 2. Summary of Significant Accounting Policies Basis of Presentation The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) and reflect all adjustments, including normal recurring adjustments, which, in the opinion of management, are necessary to present fairly the financial position, results of operations, and cash flows for the periods presented in accordance with U.S. GAAP. Use of Estimates The preparation of the financial statements in accordance with U.S. GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods presented. Actual results could differ from these estimates. Receivable from Stockholders Receivable from stockholders, is recorded at the promised amount of cash to be contributed to the Company by the Founders in exchange for the issuance of common stock. In August 2025, the outstanding balance was paid in full (see Notes 3 and 8). Intangible Assets The Company’s finite -livedintangible asset, a perpetual royalty -freesoftware license, was contributed to the Company on June 30, 2025, is carried at cost, and is amortized on a straight -linebasis over the estimated remaining economic life of five years. The straight -linemethod of amortization represents the Company’s best estimate of the distribution of the economic value of the identifiable intangible assets. The factors that were considered in determining the useful lives of identifiable intangible asset included the extent to which expected future cash flows would be affected by the Company’s intent and ability to retain use of this asset. During the period from June 30, 2025 (Inception) through June 30, 2025, the Company did not record any amortization expense related to intangible asset due the contribution date being on the last day of the reporting period. Impairment of Long-Lived Assets Whenever events or changes in circumstances indicate that the carrying amount of long -livedassets may not be recoverable, the Company estimates the expected undiscounted future cash flows from the use of those assets and their eventual disposition (without any allocated debt financing charges). The Company conducts an intangible impairment analysis at least annually and more frequently