Company: EMCRF
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001829126-25-003812
Chunk: 0

Company: Embrace Change Acquisition Corp.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 0
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EMBRACE CHANGE ACQUISITION CORP.

CONSOLIDATED
BALANCE SHEETS

(Unaudited)

    March 31,

    December 31,

    2025

    2024

    ASSETS

    Cash
     
    $
    17,229

    $
    66,985

    Prepaid expenses

    63,750

    -

    Total Current Assets

    80,979

    66,985

    Cash and investments held in trust account

     26,354,572 

    26,087,209

    Total Assets
     
    $
    26,435,551

    $
    26,154,194

    LIABILITIES AND STOCKHOLDERS’ DEFICIT

    Current Liabilities

    Accounts payable and accrued expenses
     
    $
     1,269,928 

    $
    1,100,072

    Due to related party

    144,060

    144,060

    Due to third party

    975,000

    775,000

    Convertible promissory note – related party

    851,112

    851,112

    Promissory note – third party

    55,789

    54,664

    Total Current
    Liabilities

    3,295,889

    2,924,908

    Deferred underwriter fee payable

    2,966,000

    2,966,000

    Total Liabilities

    6,261,889

    5,890,908

    Commitments and Contingencies (Note 6)

    Ordinary shares subject to possible
    redemption, 2,224,131 shares issued and outstanding at redemption value of $11.85 and $11.73 per share as of March 31, 2025 and
    December 31, 2024, respectively

    26,354,572

    26,087,209

    Stockholders’ Deficit

    Ordinary Shares, par value $0.0001;
    500,000,000 shares authorized; 2,295,893 (excluding 2,224,131 shares subject to redemption, respectively) issued and outstanding as
    of March 31, 2025 and December 31, 2024, respectively

    230