Company: KCHVR
Filing Date: 2025-07-09
Form Type: 10-Q
Source: 0001213900-25-062351
Chunk: 44

Company: Kochav Defense Acquisition Corp.
Filing Date: 2025-07-09
Form: 10-Q
Item: Part I, Item 8
Chunk 44
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 2025, the Company had no cash and working capital deficit of $115,387.

6

KOCHAV DEFENSE ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

MARCH 31, 2025

(Unaudited) 

In order to fund working capital deficiencies
or finance transaction costs in connection with a Business Combination, the Sponsor, members of the Company’s founding team or any
of their affiliates may, but are not obligated to, loan the Company funds as may be required (“Working Capital Loans”). If
the Company completes a Business Combination, the Company would repay such loaned amounts at that time. Up to $1,500,000 of such Working
Capital Loans may be converted into units of the post-Business Combination entity at a price of $10.00 per unit. The units would be identical
to the Private Placement Units. As of March 31, 2025, the Company had no borrowings under the Working Capital Loans.

In connection with the Company’s assessment
of going concern considerations in accordance with Accounting Standards Codification (“ASC”) 205-40, “Presentation of
Financial Statements- Going Concern,” the Company does not believe it will need to raise additional funds in order to meet the expenditures
required for operating its business. However, if the 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, the Company may have insufficient
funds available to operate its business prior to the initial Business Combination. Management has determined that post the closing of
the Initial Public Offering and sale of the private placement, the Company has sufficient funds to finance the working capital needs of
the Company within one year from the date of issuance of the unaudited condensed financial statements.

NOTE 2. SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying unaudited condensed financial
statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”)
for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X of the U.S. Securities
and Exchange Commission (“SEC”). Certain information or footnote disclosures normally included in financial statements prepared
in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting.
Accordingly, they do not include all the information