Company: APAD
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-108829
Chunk: 76

Company: AParadise Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 76
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, 2025, we had cash of $1,454,749
and a working capital of $1,165,011. The Company’s liquidity needs prior to the closing of IPO were satisfied through a payment
from the Sponsor of $25,000 for the Founder Shares and total advances from the Sponsor of $57,922 to cover certain offering costs, as
well as a loan under an unsecured promissory note from the Sponsor of $300,000 (see Note 5). We intend to use the funds held outside the
Trust Account primarily to identify and evaluate target businesses, perform business due diligence on prospective target businesses, travel
to and from the offices, plants or similar locations of prospective target businesses or their representatives or owners, review corporate
documents and material agreements of prospective target businesses, structure, negotiate and consummate a business combination.

In order to fund working capital deficiencies
or finance transaction costs in connection with a business combination, the Sponsor or an affiliate of our Sponsor, or certain of our
officers and directors or their affiliates may, but are not obligated to, loan us funds as may be required. If we complete a business
combination, we would repay such loaned amounts. In the event that a business combination does not close, we may use a portion of the
working capital held outside the Trust Account to repay such loaned amounts but no proceeds from our Trust Account would be used for such
repayment. Up to $1,500,000 of such Working Capital Loans may be convertible into Private Placement Units of the post business combination
entity at a price of $10.00 per Private Placement Unit at the option of the lender. Such units would be identical to the Private Placement
Units issued to our sponsor. The terms of such loans by our officers and directors, if any, have not been determined and no written agreements
exist with respect to such loans. We do not expect to seek loans from parties other than our sponsor or an affiliate of our sponsor as
we do not believe third parties will be willing to loan such funds and provide a waiver against any and all rights to seek access to funds
in our trust account.

19

We do not believe we will need to raise additional
funds in order to meet the expenditures required for operating our business. However, if our 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,
we may have insufficient funds available to operate