Company: PGACR
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108205
Chunk: 55

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 8
Chunk 55
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 consummation of
an initial business combination. In connection with the Company’s assessment of going concern considerations in accordance with
the Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2014-15, “Disclosures
of Uncertainties about an Entity’s Ability to Continue as a Going Concern,” management has determined that these conditions
raise substantial doubt about the Company’s ability to continue as a going concern. Management’s plan in addressing this
uncertainty is through the borrowing of Working Capital Loans, as defined below (see Note 5). In addition, if the Company is unable to
complete an initial business combination within the Combination Period by March 6, 2026, unless further extended, the Company’s
board of directors would proceed to commence a voluntary liquidation and thereby a formal dissolution of the Company. There is no assurance
that the Company’s plans to consummate an initial business combination will be successful within the Combination Period. As a result,
management has determined that such additional condition also raises substantial doubt about the Company’s ability to continue as
a going concern within one year after the date that the unaudited financial statements are issued. The unaudited financial statement
does not include any adjustments that might result from the outcome of this uncertainty.

Risks
and Uncertainties

As
a result of the military action commenced in February 2022 by the Russian Federation and Belarus in the country of Ukraine and related
economic sanctions, the Company’s ability to consummate an initial business combination, or the operations of a target business
with which the Company ultimately consummates an initial business combination, may be materially and adversely affected. In addition,
the Company’s ability to consummate a transaction may be dependent on the ability to raise equity and debt financing which may
be impacted by these events, including as a result of increased market volatility, or decreased market liquidity in third-party financing
being unavailable on terms acceptable to the Company or at all. The impact of this action and related sanctions on the world economy
and the specific impact on the Company’s financial position, results of operations and/or ability to consummate an initial business
combination are not yet determinable. The unaudited financial statements do not include any adjustments that might result from the outcome
of this uncertainty.

Note 2 — Significant
Accounting Policies

Basis
of Presentation

The
accompanying unaudited financial statements are presented in conformity with accounting principles generally accepted in the United