Company: IBACR
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023510
Chunk: 27

Company: IB Acquisition Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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QUISITION CORP.

NOTES
TO FINANCIAL STATEMENTS

JUNE
30, 2025

(Unaudited)

The
following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring
basis as of June 30, 2025, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair
value.:

 SCHEDULE
OF ASSETS AND LIABILITIES MEASURED FAIR VALUE ON RECURRING BASIS

    Description 
    Level  
    June 30, 2025  
    September 30, 2024 
  
    Assets: 

    Cash and investments held in Trust Account 
     1  
    $121,553,746  
    $118,601,873 

NOTE
9. SEGMENT INFORMATION

ASC
Topic 280, “Segment Reporting,” establishes standards for companies to report in their financial statement information about
operating segments, products, services, geographic areas, and major customers. Operating segments are defined as components of an enterprise
for which separate financial information is available that is regularly evaluated by the Company’s chief operating decision maker,
or group, in deciding how to allocate resources and assess performance.

The
Company’s chief operating decision maker has been identified as the Chief Financial Officer (“CODM”), who reviews the
operating results for the Company as a whole to make decisions about allocating resources and assessing financial performance. Accordingly,
management has determined that the Company only has one operating segment.

When
evaluating the Company’s performance and making key decisions regarding resource allocation, the CODM reviews key metrics, which
includes general and administrative expenses and interest and dividends earned on cash and investments held in Trust Account which are
included in the unaudited statements of operations.

The
key measures of segment profit or loss reviewed by our CODM are interest and dividends earned on cash and investments held in Trust Account
and general and administrative expenses. The CODM reviews interest and dividends earned on cash and investments held in Trust Account
to measure and monitor stockholder value and determine the most effective strategy of investment with the Trust Account funds while maintaining
compliance with the trust agreement. General and administrative expenses are reviewed and monitored by the CODM to manage and forecast
cash to ensure enough capital is available to complete a business combination within the business combination period. The CODM also reviews
general and administrative costs to manage, maintain and enforce all contractual agreements to ensure costs