Company: CSTAF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110128
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Company: Constellation Acquisition Corp I
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
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 started trading on the OTC Pink and the Company’s Units started trading on the OTCQB. The main difference between
OTCQB and OTC Pink from OTCQX is that securities listed on the OTCQB and OTC Pink undergo additional quality review and have different
listing standards than those on the OTCQX, although all are tiers of the OTC Markets. The trading symbols for the Class A ordinary shares
and Units remained the same.

The transition to OTC Pink and OTCQB from OTCQX
of the Company’s Class A ordinary shares and Units is not expected to affect the Company’s business operations, its relationships
with partners or employees or its current SEC reporting obligations.

24

On June 5, 2025, the Company amended the 2024
Note, to increase the principal amount by $590,000 from $1,660,000 to $2,250,000. All other provisions of the 2024 Note remained in full
force and effect.

On July 16, 2025, the Company’s Public
Warrants and Units started trading on the OTCID. The main difference between OTCID and OTCQB is that securities listed on the OTCID undergo
additional quality review and have different listing standards than those on the OTCQB, although all are tiers of the OTC Markets. The
trading symbols for the Public Warrants and Units remained the same.

The transition to OTCID from OTCQB of the Company’s
Public Warrants and Units did not affect the Company’s business operations, its relationships with partners or employees or its
current SEC reporting obligations.

On September 8, 2025, Jindalee Lithium Limited,
an Australian public company listed on the Australian Securities Exchange, announced that Jindalee and the Company had entered into a
non-binding term sheet related to a business combination between the Company and HiTech Minerals, Inc., a Nevada corporation and wholly-owned
subsidiary of Jindalee.

Liquidity and Going Concern Consideration

As of September 30, 2025, the Company had $8,808
in its operating bank account, and a working capital deficit of $6,546,604, net of the convertible promissory note – related party.
Convertible promissory note - related party amounting to $3,181,000 is not expected to be settled out of the current assets.

Our liquidity needs to date have