Company: FSHPU
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001829126-25-005698
Chunk: 1

Company: Flag Ship Acquisition Corp
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 1
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2,264,737
    )

    TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT
     
    $
    72,365,816

    $
    70,971,620

See accompanying notes to unaudited financial statements.

1

FLAG SHIP ACQUISITION CORPORATION

UNAUDITED STATEMENTS OF OPERATIONS

(Currency expressed in United States Dollars (“US$”), except for number of shares)

    For the three months ended June 30,

    For the  six months ended  June 30,

    2025

    2024

    2025

    2024

    Formation, general and administrative expenses
     
    $
    (152,648
    )
     
    $
    (78,021
    )
     
    $
    (314,719
    )
     
    $
    (153,809
    ) 

    Other income:

    Interest and dividends earned on cash and investments held in Trust Account

    742,274

    97,945

    1,482,043

    97,945

    Total other income, net

    742,274

    97,945

    1,482,043

    97,945

    Income (loss) before income taxes

    589,626

    19,924

    1,167,324

    (55,864
    ) 

    Income taxes

    -

    -

    -

    -

    NET INCOME (LOSS)
     
    $
    589,626

    $
    19,924

    $
    1,167,324

    $
    (55,864
    ) 

    Basic and diluted weighted average shares outstanding, ordinary shares subject to possible redemption

    6,900,000

    758,242

    6,900,000

    379,121

    Basic and diluted net income (loss) per ordinary shares subject to possible redemption
     
    $
    0.07

    $
    0.01

    $
    0.13

    $
    (0.03
    ) 

    Basic and diluted weighted average shares outstanding, ordinary shares attributable to Flag Ship Acquisition Corporation

    1,963,000

    1,751,154

    1,963,000

    1,738,077