Company: EMCRF
Filing Date: 2025-12-10
Form Type: 10-Q
Source: 0001493152-25-027065
Chunk: 59

Company: Embrace Change Acquisition Corp.
Filing Date: 2025-12-10
Form: 10-Q
Item: Part I, Item 8
Chunk 59
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 redeem the Public Shares and thereafter liquidate and dissolve raises substantial doubt about
the Company’s ability to continue as a going concern within one year after the date that the unaudited interim consolidated financial
statements are issued. The unaudited interim consolidated financial statements do not include any adjustments that might result from
the outcome of this uncertainty. The accompanying financial statement has been prepared in conformity with generally accepted accounting
principles in the United States of America (“GAAP”), which contemplate continuation of the Company as a going concern.

NOTE
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis
of Presentation

The
accompanying consolidated financial statements are presented in U.S. Dollars and conformity with accounting principles generally accepted
in the United States of America (“GAAP”) and pursuant to the rules and regulations of the SEC. Certain information and note
disclosures normally included in the annual financial statements prepared in accordance with generally accepted accounting principles
have been omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make
the information not misleading. The interim consolidated financial statements as of September 30, 2025 and for the three and nine months
ended September 30, 2025 and 2024, respectively, are unaudited. In the opinion of management, the unaudited interim consolidated financial
statements include all adjustments, consisting only of normal recurring adjustments, necessary to provide a fair statement of the results
for the interim periods. The accompanying balance sheet as of December 31, 2024, is derived from the audited financial statements presented
in the Company’s Annual Report on Form 10-K for fiscal the year ended December 31, 2024. The interim results for the three and
nine months ended September 30, 2025 are not necessarily indicative of the results that may be expected through December 31, 2025 or
for any future periods.

Principles
of consolidation

The
unaudited interim consolidated financial statements include the financial statements of the Company and its wholly owned subsidiaries.
All transactions and balances among the Company and its subsidiaries have been eliminated upon consolidation.

    9

Use
of Estimates

The
preparation of unaudited interim consolidated financial statements in conformity with GAAP requires 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 unaudited interim consolidated financial statements and the reported amounts of