Company: ABTC
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076632
Chunk: 18

Company: American Bitcoin Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 8
Chunk 18
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 10,445,063
shares and 588,626 shares as of June 30, 2025 and 2024, respectively.

13

Recent Accounting Pronouncements

The Company’s management reviewed all recently
issued accounting standard updates (“ASU’s”) not yet adopted by the Company and does not believe the future adoptions
of any such ASU’s may be expected to cause a material impact on the Company’s unaudited condensed consolidated financial condition
or the results of its operations, except for the following.

In October 2023, the FASB
issued ASU 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification
Initiative. The amendments in this Update modify the disclosure or presentation requirements of a variety of Topics in the Codification.
Certain of the amendments represent clarifications to, or technical corrections of the current requirements. Each amendment in the ASU
will only become effective if the SEC removes the related disclosure or presentation requirement from its existing regulations by June
30, 2027. We are currently evaluating the impact that the adoption of the provisions of the ASU will have on our unaudited condensed consolidated
financial statements. The amendments in this ASU are not expected to have a material impact on the results of operations or financial
position.

On December 14, 2023, the
FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”). ASU 2023-09
requires entities to disclose specific rate reconciliations, amount of income taxes separated by federal and individual jurisdiction,
and the amount of income (loss) from continuing operations before income tax expense (benefit) disaggregated between federal, state, and
foreign. The new standard is effective for the Company for its fiscal year beginning January 1, 2025, with early adoption permitted. The
Company is currently evaluating the impact of adopting the standard.

In November 2024, the FASB
issued ASU 2024-03, “Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40)”.
The amendments require the disclosure of specified information about certain costs and expenses including purchases of inventory, employee
compensation, depreciation, intangible asset amortization, and depreciation, depletion, and amortization recognized as part of oil and
gas producing activities