Company: TBMC
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043357
Chunk: 3

Company: Trailblazer Merger Corp I
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 3
---
 Amount  
    Capital  
    Deficit  
    Deficit 
  
    Balances — December 31, 2023 
     2,119,499  
    $212  
     1  
    $    —  
    $   —  
    $(1,677,270) 
    $(1,677,058)

    Remeasurement of carrying value to redemption value 
     —  
     —  
     —  
     —  
     —  
     (1,400,699) 
     (1,400,699)

    Net income 
     —  
     —  
     —  
     —  
     —  
     372,368  
     372,368 

    Balances – March 31, 2024 (unaudited) 
     2,119,499  
    $212  
     1  
    $—  
    $—  
    $(2,705,601) 
    $(2,705,389)

The
accompanying notes are an integral part of the unaudited condensed consolidated financial statements.

3

TRAILBLAZER
MERGER CORPORATION I

CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)

    For the Three Months Ended March 31, 

    2025  
    2024 
  
    Cash Flows from Operating Activities: 

    Net (loss) income 
    $(450,825) 
    $372,368 
  
    Adjustments to reconcile net (loss) income to net cash used in by operating activities: 

    Interest earned on marketable securities held in Trust Account 
     (279,885) 
     (953,592)
  
    Unrealized gain on marketable securities held in Trust Account 
     —  
     3,973 
  
    Deferred benefit from income taxes 
     —  
     (141,803)
  
    Changes in operating assets and liabilities: 

    Prepaid expenses 
     3,926  
     32,301 
  
    Prepaid insurance 
     25,681  
     25,681 
  
    Accounts payable and accrued expenses 
     382,098  
     148