Company: IBACR
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010982
Chunk: 4

Company: IB Acquisition Corp.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 4
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 to common stock 
     —  
     —  
     (184,528) 
     —  
     (184,528)

    Issuance of 395,000 representative shares 
     395,000  
     40  
     3,867,010  
     —  
     3,867,050 

    Remeasurement of Common Stock subject to possible redemption 
     —  
     —  
     (10,561,317) 
     —  
     (10,561,317)

    Net loss
                                                       
     —  
     —  
     —  
     (194,646) 
     (194,646)
  
    Net income (loss) 
     —  
     —  
     —  
     (194,646) 
     (194,646)

    Balance — March 31, 2024 
     4,249,090  
    $425  
    $1,643,780  
    $(290,571) 
    $1,353,634 
  
    Balance 
     4,249,090  
    $425  
    $1,643,780  
    $(290,571) 
    $1,353,634 

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

3

IB
ACQUISITION CORP.

STATEMENTS
OF CASH FLOWS

(UNAUDITED)

    For the Six
    Months Ended March 31, 

    2025  
    2024 

    Cash flows from operating activities: 

    Net income (loss) 
    $1,731,194  
    $(282,137)
  
    Adjustments to reconcile net income (loss) to net cash used in operating activities: 

    Interest and dividends earned on cash and investments held in Trust Account 
     (2,621,671) 
     — 
  
    Changes in operating assets and liabilities: 

    Prepaid expenses 
     (31,614) 
     (29,063)
  
    Short-term prepaid insurance 
     169,750  
     — 
  
    Due to Sponsor 
     2,788  
     — 
  
    Accounts