Company: BLUWU
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023451
Chunk: 19

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 19
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The
Company’s chief operating decision maker (“CODM”) has been identified as the Chief Financial Officer, who reviews the
assets, operating results, and financial metrics 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 reporting segment.

    12

The
CODM assesses performance for the single segment and decides how to allocate resources based on net income or loss that also is reported
on the statement of operations as net income or loss. The measure of segment assets is reported on the balance sheet as total assets.
When evaluating the Company’s performance and making key decisions regarding resource allocation, the CODM reviews several key
metrics included in total assets and net income (loss), which include the following:

 Schedule
of Segment Information

    September 30, 
     
    December 31,

    Assets: 
    2025 
     
    2024

    Cash 
    $759,229 
     
    $
    —

    Cash and marketable securities held in Trust Account 
    $256,272,459 
     
    $
    —

    Total Assets 
    $257,193,812 
     
    $
    25,000

The
CODM reviews cash to assess if the Company has sufficient resources available to discharge its current liabilities, and whether the Company
can leverage its cash position with other liquid assets to do so or whether the Company may need to seek additional funding. The CODM
also review cash and marketable securities held in Trust Account to ensure sufficient capital is available to complete a business combination
or similar transaction within the business combination period.

    Three Months  
    Nine Months 

    Ended  
    Ended 

    September 30,  
    September 30, 
  
    Net Income: 
    2025  
    2025 
  
    Net loss from operations 
    $(423,510) 
    $(611,822)
  
    Income earned on cash and marketable securities held in Trust Account 
    $2,715,577  
    $3,272,459 
  
    Net income 
    $2,292,067  
    $2,660,637 

The
CODM reviews net loss from operations to manage and forecast cash to ensure capital is available to complete a business combination or
similar transaction within the business combination period. The CODM also reviews net loss from operations to manage