Company: PGACR
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-075873
Chunk: 11

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 11
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 Working Capital Loans,
as defined below (see Note 5). In addition, if the Company is unable to complete an initial business combination within the Combination
Period by March 6, 2026, unless further extended, the Company’s board of directors would proceed to commence a voluntary liquidation
and thereby a formal dissolution of the Company. There is no assurance that the Company’s plans to consummate an initial business
combination will be successful within the Combination Period. As a result, management has determined that such additional condition also
raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the unaudited
financial statements are issued. The unaudited financial statement does not include any adjustments that might result from the outcome
of this uncertainty.

Risks and Uncertainties

As a result of the military action commenced in
February 2022 by the Russian Federation and Belarus in the country of Ukraine and related economic sanctions, the Company’s
ability to consummate an initial business combination, or the operations of a target business with which the Company ultimately consummates
an initial business combination, may be materially and adversely affected. In addition, the Company’s ability to consummate a transaction
may be dependent on the ability to raise equity and debt financing which may be impacted by these events, including as a result of increased
market volatility, or decreased market liquidity in third-party financing being unavailable on terms acceptable to the Company or at all.
The impact of this action and related sanctions on the world economy and the specific impact on the Company’s financial position,
results of operations and/or ability to consummate an initial business combination are not yet determinable. The unaudited financial statements
do not include any adjustments that might result from the outcome of this uncertainty.

7

Note 2 — Significant Accounting Policies

Basis of Presentation

The accompanying unaudited financial statements
are presented in conformity with accounting principles generally accepted in the United States of America (“US GAAP”)
and pursuant to the rules and regulations of the SEC. The interim financial information provided is unaudited but includes all
adjustments which management considers necessary for the fair presentation of the results for the period. The information included in
this Form 10-Q should be read in conjunction with information included in the Company’s annual report on Form 10-K for the year
ended December 31, 2024, filed with the SEC on March 27, 2025. Operating results