Company: DTSQ
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001417
Chunk: 61

Company: DT Cloud Star Acquisition Corp
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 61
---

Hong Kong.

Our
independent registered public accounting firm’s report contains an explanatory paragraph that expresses substantial doubt about
our ability to continue as a “going concern.” 

We
initially have 15 months from the consummation of our initial public offering to consummate the initial business combination. If we do
not complete a business combination within 15 months from the consummation of our initial public offering, we will trigger an automatic
winding up, dissolution and liquidation pursuant to the terms of the amended and restated memorandum and articles of association. As
a result, this has the same effect as if we had formally gone through a voluntary liquidation procedure under the Companies Act (As Revised)
of the Cayman Islands. Accordingly, no vote would be required from our shareholders to commence such a voluntary winding up, dissolution
and liquidation. However, we may extend the period of time to consummate a business. If we are unable to consummate our initial business
combination within the 15-month period (unless further extended), we will, as promptly as possible but not more than ten business days
thereafter, redeem 100% of our outstanding public shares for a pro rata portion of the funds held in the trust account, including a pro
rata portion of any interest earned on the funds held in the trust account and not necessary to pay taxes, and then seek to liquidate
and dissolve. However, we may not be able to distribute such amounts as a result of claims of creditors which may take priority over
the claims of our public shareholders. In the event of dissolution and liquidation, our warrants and rights will expire and will be worthless.

39

Because
we are incorporated under the laws of the Cayman Islands, and most of our executive officers and directors are located outside the United
States, you may face difficulties in protecting your interests, and your ability to protect your rights through the U.S. Federal or state
courts may be limited. 

We
are an exempted company incorporated under the laws of the Cayman Islands. In addition, most of our executive officers and directors
are located outside of the United States and are nationals or residents of jurisdictions other than the United States, and most or a
substantial portion of their assets are located outside of the United States. Mr. Bian Fan, our chairman and chief executive officer,
is a PRC passport holder; Mr. Kenneth Lam, our chief financial officer and director, is a United Kingdom passport holder; Ms