Company: CHPG
Filing Date: 2025-11-17
Form Type: 10-Q
Source: 0001213900-25-111468
Chunk: 35

Company: ChampionsGate Acquisition Corp
Filing Date: 2025-11-17
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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 Standards Codification
(“ASC”) 718, “Compensation – Stock Compensation” (“ASC 718”) is included in the offering costs.
The estimated fair value of the Representative Shares as of the IPO date totaled $293,020.

As of September 30, 2025, we had $17,351 in cash
and a working capital deficit of $23,287.

For the nine months ended September 30, 2025,
there was $432,991 of cash used in operating activities resulting from dividend earned on investments held in trust account of $1,043,808,
the increase in prepaid expenses of $57,547, and the decrease in accounts payable and accrued expenses of $36,646. The changes were partially
offset by net income of $494,905, stock compensation expense of 155,904 and the increase in due to related parties of $54,201.

For the period from March 27, 2024 (inception)
through September 30, 2024, there was $91,519 of cash used in operating activities resulting from net loss of $172,120 and the increase
in prepaid expenses of $26,000. The changes were partially offset by stock compensation expense of $31,905, the increase in due to related
parties of $16,774, and the increase in accounts payable and accrued expenses of $57,922.

For the nine months ended September 30, 2025,
there was $75,123,750 of cash used in investing activity resulting from the purchase of investments held in trust account.

For the period from March 27, 2024 (inception)
through September 30, 2024, there were no investing activities.

For the nine months ended September 30, 2025,
there was $75,574,089 of cash provided by financing activities resulting from the proceeds from the IPO of $74,750,000, from the proceeds
of the private placement consummated simultaneously with the IPO of $2,300,000, proceeds from working capital loans provided by a related
party of $16,459, and from promissory note provided by a related party of $95,048. The changes were partially offset by the payment of
the underwriter discount of $747,500, the payment of promissory note–related party of $350,000, and the payment of deferred offering
costs of $489,918.

For the period from March