Company: IBACR
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010982
Chunk: 1

Company: IB Acquisition Corp.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 1
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     771,446  
     1,111,372 
  
    Total Stockholders’ Equity 
     771,871  
     1,111,797 
  
    Total Liabilities and Stockholders’ Equity 
    $121,164,499  
    $119,800,388 

The
accompanying notes are an integral part of the unaudited financial statements.

1

IB
ACQUISITION CORP.

STATEMENTS
OF OPERATIONS

(UNAUDITED)

    For the Three Months Ended March 31,  
    For the Six Months Ended March 31, 

    2025  
    2024  
    2025  
    2024 
  
    General and administrative expenses 
    $163,485  
    $194,646  
    $339,926  
    $282,137 
  
    Loss from operations 
     (163,485) 
     (194,646) 
     (339,926) 
     (282,137)

    Other income: 

    Interest and dividends earned on cash and investments held in Trust Account 
     1,250,141  
     —  
     2,621,671  
     — 
  
    Other income 
     1,250,141  
     —  
     2,621,671  
     — 

    Income (Loss) before provision for income taxes 
     1,086,656  
     (194,646) 
     2,281,745  
     (282,137)
  
    Provision for income taxes 
     (262,530) 
     —  
     (550,551) 
     — 
  
    Net income (loss) 
    $824,126  
    $(194,646) 
    $1,731,194  
    $(282,137)

    Basic weighted average common stock outstanding, redeemable 
     11,500,000  
     383,333  
     11,500,000  
     189,560 

    Basic net income (loss) per common stock, redeemable 
    $0.05  
    $(0.06) 
    $0.11  
    $(0.09)

    Diluted weighted average common stock outstanding