Company: TBMC
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075720
Chunk: 46

Company: Trailblazer Merger Corp I
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 46
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, and identifying a target
company for a Business Combination. We do not expect to generate any operating revenues until after the completion of our Business Combination.
We generate non-operating income in the form of interest income on marketable securities held in the Trust Account. We incur expenses
as a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence
expenses.

For the three months ended
June 30, 2025, we had a net loss of $240,257, which consists of general and administrative expenses of $445,636, and provision for income
taxes of $79,161, offset by interest earned on marketable securities held in Trust Account of $284,540.

For the six months ended
June 30, 2025, we had a net loss of $691,082, which consists of general and administrative expenses of $1,111,291, and provision for income
taxes of $144,216, offset by interest earned on marketable securities held in Trust Account of $564,425.

For the three months ended
June 30, 2024, we had a net income of $217,511, which consists of interest earned on marketable securities held in Trust Account of $977,178
and unrealized gain on marketable securities held in Trust Account of $9,504, offset by the operating costs of $572,468, and provision
for income taxes of $196,703.

For the six months ended
June 30, 2024, we had a net income of $589,879, which consists of interest earned on marketable securities held in Trust Account of $1,930,770
and unrealized gain on marketable securities held in Trust Account of $5,531, offset by the operating costs of $960,799, and provision
for income taxes of $385,623.

23

Liquidity, Capital Resources and Going Concern

As of June 30, 2025, we had
$99,367 in our operating bank account available for working capital needs, while restricted cash available to pay for the Company’s
franchise and income taxes is $1,226,799. All remaining cash was held in the trust account and is generally unavailable for our use prior
to an initial business combination.

On March 31, 2023, the Company
consummated the IPO of 6,000,000 units (the