Company: IBACR
Filing Date: 2025-02-13
Form Type: 10-Q
Source: 0001493152-25-006426
Chunk: 24

Company: IB Acquisition Corp.
Filing Date: 2025-02-13
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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118,601,873 

NOTE
9. SEGMENT INFORMATION

ASC
Topic 280, “Segment Reporting,” establishes standards for companies to report in their financial statement information
about operating segments, products, services, geographic areas, and major customers. Operating segments are defined as components
of an enterprise for which separate financial information is available that is regularly evaluated by the Company’s chief operating
decision maker, or group, in deciding how to allocate resources and assess performance.

The
Company’s chief operating decision maker has been identified as the Chief Financial Officer (“CODM”), who reviews the
operating results for the Company as a whole to make decisions about allocating resources and assessing financial performance. Accordingly,
management has determined that the Company only has one operating segment.

When
evaluating the Company’s performance and making key decisions regarding resource allocation, the CODM reviews several key metrics,
which includes general and administrative expenses and interest earned on marketable securities held in Trust Account which are included
in the accompanying unaudited statements of operations.

The
key measures of segment profit or loss reviewed by our CODM are earned on marketable securities held in Trust Account and general and
administrative expenses. The CODM reviews earned on marketable securities held in Trust Account to measure and monitor stockholder value
and determine the most effective strategy of investment with the Trust Account funds while maintaining compliance with the trust agreement.
General and administrative expenses are reviewed and monitored by the CODM to manage and forecast cash to ensure enough capital is available
to complete a business combination within the business combination period. The CODM also reviews general and administrative costs to
manage, maintain and enforce all contractual agreements to ensure costs are aligned with all agreements and budget.

NOTE
10. SUBSEQUENT EVENTS

The
Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the unaudited financial
statements were issued. Based upon this review, the Company did not identify any subsequent events that would have required adjustment
or disclosure in the unaudited financial statements.

 12 

Item
2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

References
in this report (the “Quarterly Report”) to “we,” “us” or the “Company” refer to IB Acquisition
Corp. References to our “management” or our “management team” refer to our officers and directors, and references
to the “Sponsor” refer to I-B Good Works 4, LLC. The following discussion