Company: IPCX
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-111009
Chunk: 90

Company: Inflection Point Acquisition Corp. III
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 90
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 operating its business. However, if the Company’s estimate of the
costs of identifying a target business, undertaking in-depth due diligence and negotiating a Business Combination are less than the actual
amount necessary to do so, the Company may have insufficient funds available to operate our business prior to its Business Combination.
Moreover, the Company may need to obtain additional financing either to complete its Business Combination or because the Company becomes
obligated to redeem a significant number of its Public Shares upon consummation of its Business Combination, in which case the Company
may issue additional securities or incur debt in connection with such Business Combination.

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying unaudited condensed consolidated
financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”)
for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X of the SEC. Certain
information or footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed consolidated
or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting. Accordingly, they do not include all the
information and footnotes necessary for a complete presentation of financial position, results of operations, or cash flows. In the opinion
of management, the accompanying unaudited condensed consolidated financial statements include all adjustments, consisting of a normal
recurring nature, which are necessary for a fair presentation of the financial position, operating results and cash flows for the periods
presented.

The accompanying unaudited condensed consolidated
financial statements should be read in conjunction with the Company’s prospectus for its Initial Public Offering as filed with the
SEC on April 25, 2025, as well as the Company’s Current Report on Form 8-K, as filed with the SEC on May 5, 2025. The interim results
for the three and nine months ended September 30, 2025, are not necessarily indicative of the results to be expected for the year ending
December 31, 2025, or for any future periods.

14

INFLECTION POINT ACQUISITION CORP. III

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2025

(Unaudited)

Principles of Consolidation

The accompanying unaudited condensed consolidated
financial statements include the accounts of the Company and its wholly owned