Company: TBMC
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043357
Chunk: 73

Company: Trailblazer Merger Corp I
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 73
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 claims. The Company will seek to reduce the possibility that the Sponsor will have to indemnify the Trust Account
due to claims of creditors by endeavoring to have all vendors, service providers (except the Company’s independent registered public
accounting firm), prospective target businesses or other entities with which the Company does business, execute agreements with the Company
waiving any right, title, interest or claim of any kind in or to monies held in the Trust Account.

7

Going
Concern Consideration

The
Company’s liquidity needs prior to the consummation of the Initial Public Offering were satisfied through the payment of $25,000
from the Sponsor issuance of Founder Shares and loan proceeds from the Sponsor under the Promissory Note (as defined in Note 5).
Subsequent to the consummation of the Initial Public Offering, the Company’s liquidity has been satisfied through the net proceeds
from the Initial Public Offering and the sale of the Placement Units in a private placement.

In
order to fund working capital deficiencies or finance transaction costs in connection with a Business Combination, the Sponsor or an
affiliate of the Sponsor, or certain of the Company’s officers and directors may, but are not obligated to, loan the Company funds
as may be required (“Working Capital Loans”). If the Company completes a Business Combination, it would repay such loaned
amounts at that time. Up to $1,500,000 of such Working Capital Loans may be converted into units of the post-Business Combination entity
at a price of $10.00 per unit at the option of the lender. The units would be identical to the Placement Units. As of March 31, 2025
and December 31, 2024, there were no amount outstanding under the Working Capital Loan.

In
connection with the Company’s assessment of going concern considerations in accordance with the authoritative guidance in Financial
Accounting Standard Board (“FASB”) Accounting Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties
about an Entity’s Ability to Continue as a Going Concern,” management has determined that the Company currently lacks the
liquidity it needs to sustain operations for a reasonable period of time, which is considered to be at least one year from the date
that the consolidated financial statements are issued as it expects to continue to incur significant costs in pursuit of its acquisition
plans. In addition, the Company has until May 31, 2025, as extended, to consummate a Business Combination.