Company: ONCHW
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075689
Chunk: 49

Company: 1RT Acquisition Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 49
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idity and Capital Resources

The Company’s liquidity needs up to June 30, 2025 had been satisfied through the loan under an unsecured promissory note from the
Sponsor of up to $300,000 (see Note 4). At June 30, 2025, the Company had no cash and working capital deficit of $573,027.

In connection with the Company’s assessment of going concern considerations in accordance with Accounting Standards Update 2014-15,
“Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern,” as of June 30, 2025, the Company
does not have sufficient liquidity to meet its current obligations. However, if the estimate of the costs of identifying a target business,
undertaking in-depth due diligence and negotiating a Business Combination are less than the actual amount necessary to do so, the Company
may have insufficient funds available to operate its business prior to the initial Business Combination. Management has determined that
upon consummation of the Initial Public Offering and the sale of the Private Placement Warrants, the Company has sufficient funds to finance
the working capital needs of the Company within one year from the date of issuance of these condensed financial statements. At July 3,
2025, the Initial Public Offering closing date, the Company had $1,142,890 cash and working capital of $758,162.

Emerging Growth Company

The Company is an “emerging growth company,”
as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012
(the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable
to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the
auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation
in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive
compensation and shareholder approval of any golden parachute payments not previously approved.

Further, Section 102(b)(1) of the JOBS
Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private
companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities
registered under the Exchange Act) are required