Company: TLGYF
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108215
Chunk: 34

Company: TLGY ACQUISITION CORP
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 8
Chunk 34
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 or loss. The measure of segment assets is reported on the balance sheets as total assets:       September 30,     2025   December 31,     2024   Total Assets  $6,625,756   $44,359,714         For the Nine Months Ended      September 30,      2025   2024   EXPENSES          General and administrative  $1,131,697   $943,794    Administrative fee – related party   —    60,000    TOTAL EXPENSES   1,131,697    1,003,794                 OTHER INCOME (LOSS)            Income earned on Cash and Investments held in Trust Account   664,199    2,088,627    Forgiveness of debt   127,768    608,776    Change in fair value of derivative liabilities   (26,853,934)   (193,456)   TOTAL OTHER INCOME (LOSS)  $(26,061,967)  $2,503,947    23  General and administrative costs are reviewed and monitored by the CODM to management and forecast cash to ensure enough capital is available to complete an Initial Public Offering and eventually 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 agreement and budget. General and administrative expenses, as reported on the statements of operations, are the significant segment expenses provided to the CODM on a regular basis. All other segment items included in net income or loss are reported on the statements of operations and described within their respective disclosures. Total assets are reviewed and monitored by the CODM to determine if the Company has maintained enough capital in order to complete its initial Business Combination. Income earned on cash and investments held in the Trust Account is reviewed and monitored by the CODM to determine returns for potential redeeming shareholders based on the interest earned on the holdings within the Trust Account. 

NOTE 11 — SUBSEQUENT EVENTS The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to November 10, 2025, the date that the financial statements were available to be issued. Based upon