Company: TLGYF
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001213900-25-125608
Chunk: 617

Company: TLGY ACQUISITION CORP
Filing Date: 2025-12-29
Form: S-4/A
Chunk 617
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 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 if changes in facts and circumstances indicate that the fair value of the intangible asset may be less than its carrying amount. If the sum of the expected undiscounted future cash flows is less than the carrying amount of those assets, the Company recognizes an impairment loss based on the excess of the carrying amount over the fair value of the assets. For the period from June 30, 2025 (Inception) through June 30, 2025, the Company did not recognize any impairment expense related to its long -livedasset F-77 StablecoinX Assets Inc. Notes to Financial Statements June 30, 2025 Note 2. Summary of Significant Accounting Policies (cont.) Concentration of Credit Risk As of June 30, 2025, amounts outstanding from two related parties accounted for 100% of the Company’s receivable from stockholders (see Note 5). Income Taxes The Company is subject to income taxes in the U.S. The Company uses the asset -and -liabilitymethod for income taxes. Under this method, deferred tax assets and liabilities are determined based on differences between the financial statement carrying amounts and tax bases of assets and liabilities and operating loss and tax credit carryforwards and are measured using the enacted tax rates that are expected to be in effect when the differences reverse. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are established on a jurisdiction -by -jurisdictionbasis when necessary to reduce deferred tax assets to an amount that, in the opinion of management, is more likely than not to be realized. Net Loss Per Share Basic and diluted net loss