Company: SIMA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076651
Chunk: 4

Company: SIM Acquisition Corp. I
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 4
---
 Net Income 
     -  
     -  
     -  
     -  
     -  
     (28,464) 
     (28,464)
  
    Balance - March 31, 2024 
     -  
    $-  
     7,666,667  
    $767  
    $24,233  
    $(28,464) 
    $(3,464)
  
    Net Income 
     -  
     -  
     -  
     -  
     -  
     (12,841) 
     (12,841)
  
    Balance - June 30, 2024 
     -  
    $-  
     7,666,667  
    $767  
    $24,233  
    $(41,305) 
    $(16,305)

(1)This number includes up to 1,000,000 Class B ordinary shares
subject to forfeiture if the over-allotment option was not exercised in full or in part by the underwriters (see Note 5). In May 2024,
the Company effected a share dividend of 0.33 shares for each Class B ordinary share outstanding, resulting in our initial shareholders
holding an aggregate of 7,666,667 founder shares (up to 1,000,000 shares of which were subject to forfeiture depending on the extent
to which the underwriters’ over-allotment option was exercised). All share and per share data have been retroactively restated
to reflect this change.

The accompanying notes are an integral part
of the condensed financial statements. 

3

SIM ACQUISITION CORP. I

CONDENSED STATEMENT OF CASH FLOWS (UNAUDITED)

    For the
six months
ended
June 30,
2025  
    For the
period from
January 29, 2024 (inception) to June 30,
2024 
  
    Cash Flows from Operating Activities 

    Net income (loss) 
    $4,520,298  
    $(41,305)
  
    Adjustments to reconcile net income (loss) to net cash used in operating activities 

    Interest earned on cash and marketable securities held in Trust Account 
     (4,943,305) 
     -