Company: PGACR
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108205
Chunk: 76

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 8
Chunk 76
---
 2025, we had a net income of $2,090,753, which consisted of interest and dividend income on cash
and investments held in trust account of $2,709,511 and partially offset by formation and operating costs of $618,758.

For
the period from May 31, 2024 (inception) through September 30, 2024, we had a net loss of $146,534, which consisted of formation and
operating costs of $146,534.

Liquidity
and Capital Resources  

The
Company’s liquidity needs up to September 30, 2025 had been satisfied through a payment from the Sponsor of $25,000 for the Founder
Shares to cover certain offering costs and the proceeds from the public offering and private placements.

Following
the closing of the IPO and sale of the Private Placement Units on December 6, 2024, a total of $86,250,000 was placed in the trust account,
and we had $533,006 of cash held outside of the trust account, after payment of costs related to the IPO, and available for working capital
purposes. In connection with the IPO, we incurred $2,528,729 in transaction costs, consisting of $1,078,125 of underwriting fees, $862,500
of deferred underwriting fees, and $588,104 of other offering costs.

As
September 30, 2025, the Company had cash of $349,018 and a working capital deficit of $117,878.

For
the nine months ended September 30, 2025, there was $641,488 of cash used in operating activities resulting from dividend earned on investments
held in trust account of $2,709,511, the decrease in accounts payable and accrued expenses of $3,774, and the decrease in due to related
parties of $33,521. The changes were partially offset by net income of $2,090,753 and the decrease in prepaid expenses of $14,565.

For
the period from May 31, 2024 (inception) through September 30, 2024, there was $1,150 of cash used in operating activities resulting
from net loss of $146,534. The change was partially offset by formation and operating cost paid by the Sponsor of 118,165 and the increase
in accounts payable and accrued expenses of $27,219.

For
the nine months ended September