Company: DTSQ
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001417
Chunk: 1078

Company: DT Cloud Star Acquisition Corp
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9A
Chunk 1078
---
 receive one-ninth (1/9) ordinary share upon consummation
of the initial business combination.

The
Private Placement Units are identical to the Public Units sold in the Initial Public Offering except for certain registration rights
and transfer restrictions.

NOTE
5 – RELATED PARTY TRANSACTIONS

Founder
Shares

On
November 29, 2022, the Company issued an aggregate of 1,725,000 founder shares (“Founder Shares”) to the initial shareholders,
so that the Sponsor collectively owned 20% of the Company’s issued and outstanding shares after the Initial Public Offering for
an aggregate purchase price of $25,000.

On
July 26, 2024, since the underwriter exercised the over-allotment in full, no Founder Shares are subject to forfeiture.

Representative
Shares

On
July 26, 2024, the Company issued 69,000 ordinary shares of $0.0001 par value each to A.G.P/Alliance Global Partners (“A.G.P.”)
(hereafter – the Representative Shares), at the closing of the IPO as part of representative compensation. The shares were accounted
for as of July 26, 2024, and received by A.G.P.

Private
Placement

On
July 26, 2024, the Company consummated the sale of 206,900 Private Placement Units at a price of $10.00 per Private Placement Unit in
a private placement to the Sponsor, generating gross proceeds of $2,069,000 to the Company.

Promissory
Note — Related Party

On
December 31, 2023, the Company issued an unsecured promissory note to the Sponsor, pursuant to which the Company may borrow up to an
aggregate principal amount of $300,000 (the “Promissory Note”). The Promissory Note is non-interest-bearing and payable on
the earlier of (i) December 31, 2024 and (ii) the date on which the Company consummates an IPO or the date on which the Company determines
not to conduct the IPO.

On
October 28, 2024, the Company issued an unsecured promissory note to the Sponsor, pursuant to which the Company may borrow up to an aggregate
principal amount of $300,000 (the “Promissory Note”). The Promissory Note is non-interest-bearing and payable on the date
which the Company consummates an initial business combination.

As
of December