Company: TBMC
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002139
Chunk: 132

Company: Trailblazer Merger Corp I
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1A
Chunk 132
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 March 28, 2023, by and between the Company
and Continental Stock Transfer & Trust Company, to allow the Company to extend the date by which the Company must consummate a business
combination up to twelve times, each such extension for an additional one month period, until September 30, 2025 and to remove the provision
in permitting the withdrawal of $100,000 of dissolution expenses from the trust account of the Company.

Critical Accounting Estimates

Certain of our accounting policies require that
management apply significant judgments in defining the appropriate assumptions integral to financial estimates. On an ongoing basis, management
reviews the accounting policies, assumptions, estimates and judgments to ensure that our financial statements are presented fairly and
in accordance with U.S. GAAP. Judgments are based on historical experience, terms of existing contracts, industry trends and information
available from outside sources, as appropriate. Some of the more significant estimates are in connection with determining the fair value
of the stock-based compensation and the derivative financial instruments at the time of the initial public offering. However, by their
nature, judgments are subject to an inherent degree of uncertainty, and, therefore, actual results could differ from our estimates. We
have not identified any critical accounting estimates as of December 31, 2024.

16

Recent Accounting Standards

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic
740): Improvements to Income Tax Disclosures (ASU 2023-09), which requires disclosure of incremental income tax information within the
rate reconciliation and expanded disclosures of income taxes paid, among other disclosure requirements. ASU 2023-09 is effective for fiscal
years beginning after December 15, 2024. Early adoption is permitted. The Company adopted ASU 2023-09 for the year ended December 31,
2024. The adoption of ASU 2023-09 did not have a material effect on the Company’s financial statements.

In November 2023, the FASB issued ASU 2023-07, Segment
Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The amendments in this ASU require disclosures,
on an annual and interim basis, of significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”),
as well as the aggregate amount of other segment items included in the reported measure of segment profit or loss. The ASU requires
that