Company: TGE
Filing Date: 2025-06-24
Form Type: F-1
Source: 0001213900-25-057225
Chunk: 240

Company: Generation Essentials Group
Filing Date: 2025-06-24
Form: F-1
Chunk 240
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 conformity
with U.S. GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets
and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of
revenues and expenses during the reporting period.

Making estimates requires management to exercise
significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances
that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near
term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.

<div align='center'>F-10

BLACK SPADE ACQUISITION II CO
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2024</div>

NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.)

Cash and Cash Equivalents

The Company considers all short-term investments
with an original maturity of three months or less when purchased to be cash equivalents. The Company had $2,117,016 in cash and no
cash equivalents as of December 31, 2024.

Cash held in Trust Account

As of December 31, 2024, the assets held in
the Trust Account were cash in a demand deposit account, amounting to $155,345,149. For the period from May 9, 2024 (inception) through
December 31, 2024, the Company withdrew $130,296 of interest earned on the cash held in the Trust Account, for working capital purposes.

Offering Costs

The Company complies with the requirements of ASC 340-10-S99
and SEC Staff Accounting Bulletin (“SAB”) Topic 5A — “Expenses of Offering.” Offering costs consist
principally of professional and registration fees that are related to the Initial Public Offering. FASB ASC 470-20, “Debt with
Conversion and Other Options,” addresses the allocation of proceeds from the issuance of convertible debt into its equity and debt
components. The Company applies this guidance to allocate Initial Public Offering proceeds from the Units between Class A ordinary
shares and warrants, using the residual method by allocating Initial Public Offering proceeds first to assigned value of the warrants
and then to Class A ordinary shares. Offering costs allocated to Class A ordinary shares were charged to temporary equity and
offering costs allocated to the Public and