Company: IPCX
Filing Date: 2025-06-09
Form Type: 10-Q
Source: 0001213900-25-052614
Chunk: 32

Company: Inflection Point Acquisition Corp. III
Filing Date: 2025-06-09
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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 in the notes to the financial statements on an interim and annual basis. ASU 2024-03 is effective for fiscal years
beginning after December 15, 2026, and for interim periods beginning after December 15, 2027, with early adoption permitted. The Company
is currently evaluating the impact of adopting ASU 2024-03.

Management does not believe that any other recently
issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on our condensed financial statements.

Item 3. Quantitative and Qualitative Disclosures
About Market Risk

Not required for smaller reporting companies.

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 and accounting officer (together, the “Certifying
Officers”), 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 Certifying Officers, we conducted an evaluation of the effectiveness of our disclosure controls and procedures
as of the end of the fiscal quarter ended March 31, 2025, as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act. Based on
the foregoing, our Certifying Officers concluded that our disclosure controls and procedures were effective at a reasonable assurance
level and, accordingly, provided reasonable assurance that the information required to be disclosed by us in reports filed under the Exchange
Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms.

Changes in Internal Control over Financial
Reporting

There was no change in our internal control over
financial reporting that occurred during the fiscal quarter of 2025 covered by this Quarterly Report on Form 10-Q that has materially
affected, or is reasonably likely to materially affect, our internal control over financial reporting.

18

PART II - OTHER INFORMATION

Item 1. Legal Proceedings

None

Item 1A. Risk Factors

Factors that could cause our actual results to
differ materially from those in this Quarterly Report are any of the risks described in our final prospectus for the Initial Public Offering
filed with the SEC