Company: EMCRF
Filing Date: 2025-12-10
Form Type: 10-Q
Source: 0001493152-25-027065
Chunk: 45

Company: Embrace Change Acquisition Corp.
Filing Date: 2025-12-10
Form: 10-Q
Item: Part I, Item 1
Chunk 45
---
 the financial statements, and income and expenses during the periods reported. Actual
results could materially differ from those estimates. As of September 30, 2025, there were no critical accounting estimates.

Recent
Accounting Standards

Management
does not believe that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material
effect on the Company’s financial statements.

24

Off-Balance
Sheet Arrangements; Commitments and Contractual Obligations; Quarterly Results

As
of the date of this report, we did not have any off-balance sheet arrangements as defined in Item 303(a)(4)(ii) of Regulation S-K and
did not have any commitments or contractual obligations. No unaudited quarterly operating data is included in this report as we have
conducted no operations to date.

Item
3. Quantitative and Qualitative Disclosures About Market Risk

As
a smaller reporting company we are not required to make disclosures under this Item.

Item
4. Controls and Procedures

Evaluation
of Disclosure Controls and Procedures

Disclosure
controls and procedures are designed to ensure that information required to be disclosed by us in our Exchange Act reports is recorded,
processed, summarized, and reported within the time periods specified in the SEC’s rules and forms, and that such information is
accumulated and communicated to our management, including our principal executive officer and principal financial officer or persons
performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

Under
the supervision and with the participation of our management, including our principal executive officer and principal financial and accounting
officer, we conducted an evaluation of the effectiveness of our disclosure controls and procedures as of the fiscal quarter ended September
30, 2025, as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act. Based on this evaluation, our principal executive
officer and principal financial and accounting officer have concluded that during the period covered by this report, our disclosure controls
and procedures were not effective.

Changes
in Internal Control over Financial Reporting

During
the fiscal quarter ended September 30, 2025, there has been no change in our internal control over financial reporting that has materially
affected, or is reasonably likely to materially affect, our internal control over financial reporting.

PART
II — OTHER INFORMATION

Item
1. Legal Proceedings

None.

Item
1A. Risk Factors

Factors
that could cause our actual