Company: FSHPU
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001829126-25-005698
Chunk: 3

Company: Flag Ship Acquisition Corp
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 3
---
4

    1,725,000

    $
    1,725

    $
    23,275

    $
    (308,006
    )
     
    $
    (283,006
    )

    Net loss

    -

    -

    -

    (75,788
    )

    (75,788
    )

    Balance as of March 31, 2024

    1,725,000

    $
    1,725

    $
    23,275

    $
    (383,794
    )
     
    $
    (358,794
    )

    Sale of units in initial public offering, net of offering costs

    6,900,000

    6,900

    65,520,667

    -

    65,527,567

    Sale of units to the founder in private placement

    238,000

    238

    2,379,762

    -

    2,380,000

    Initial classification of ordinary shares subject to possible redemption

    (6,900,000
    )

    (6,900
    )

    (64,660,391
    )

    -

    (64,667,291
    )

    Allocation of offering costs to ordinary shares subject to redemption

    -

    -

    3,231,709

    -

    3,231,709

    Accretion of carrying value to redemption value

    -

    -

    (6,495,022
    )

    (1,069,396
    )

    (7,564,418
    )

    Subsequent remeasurement of ordinary shares subject to redemption

    -

    -

    -

    (97,945
    )

    (97,945
    )

    Net income

    -

    -

    -

    19,924

    19,924

    Balance as of June 30, 2024

    1,963,000

    $
    1,963

    $
    -

    $
    (1,531,211
    )
     
    $
    (1,529,248
    )

See accompanying notes to unaudited financial statements.

3

FLAG SHIP ACQUISITION CORPORATION

UNAUDITED STATEMENTS OF CASH FLOWS

(Currency expressed in United States Dollars (“US$”), except for number of shares)