Company: BACC
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001185185-25-001689
Chunk: 57

Company: Blue Acquisition Corp/Cayman
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 57
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 are securities of the Company. Therefore,
the Company cannot assure that the Sponsor would be able to satisfy those obligations.

Liquidity
and Capital Resources

As
of September 30, 2025, the Company had $1,045,403 cash and working capital of $1,061,429. The Company’s liquidity needs through
September 30, 2025 had been satisfied through a payment from the Sponsor of $25,000 for Class B ordinary shares, par value $0.0001 per
share (“founder shares”) (see Note 6), the Initial Public Offering and the issuance of the Private Placement Units. Additionally,
the Company drew on an unsecured promissory note to pay certain offering costs, which was paid in full in connection with the consummation
of the Company’s Initial Public Offering on July 16, 2025.

The Company has incurred and expects to continue
to incur significant costs in pursuit of its financing and acquisition plans. The Company lacks the financial resources it needs to sustain
operations for a reasonable period of time, which is considered to be one year from the issuance date of the financial statement. Although
no formal agreement exists, the Sponsor, certain directors and officers, or any of their respective affiliates may, but are not obligated
to, to extend Working Capital Loans as needed (defined in Note 6). The Company cannot assure that its plans to consummate an initial Business
Combination will be successful.

These
factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern one year from the date
this financial statement is issued. This financial statement does not include any adjustments that might result from the outcome of this
uncertainty.

6

Table of Contents 

BLUE
ACQUISITION CORP.
NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

SEPTEMBER
30, 2025

Note 2 — Significant
Accounting Policies

Basis
of Presentation

The
accompanying financial statements are presented in conformity with accounting principles generally accepted in the United States
of America (“U.S. GAAP”) and pursuant to the rules and regulations of the United States Securities and Exchange Commission
(the “SEC”). In the opinion of Company management, the accompanying unaudited condensed
financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair statement of the
financial position, operating results and cash