Company: TBMC
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075720
Chunk: 36

Company: Trailblazer Merger Corp I
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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 30, 

    2025  
    2024  
    2025  
    2024 
  
    General and administrative expenses 
    $445,636  
    $572,468  
    $1,111,291  
    $960,799 
  
    Interest earned on the Trust Account 
    $284,540  
    $977,178  
    $564,425  
    $1,930,770 

The CODM reviews interest earned on the Trust
Account to measure and monitor stockholder value and determine the most effective strategy of investment with the Trust Account funds
while maintaining compliance with the Trust Agreement.

General and administrative expenses are reviewed
and monitored by the CODM to manage and forecast cash to ensure enough capital is available to complete a business combination or similar
transaction within the business combination period. The CODM also reviews general and administrative costs to manage, maintain and enforce
all contractual agreements to ensure costs are aligned with all agreements and budget. General and administrative costs, as reported on
the statement of operations, are the significant segment expenses provided to the CODM on a regular basis.

All other segment items included in net income
or loss are reported on the statement of operations and described within their respective disclosures.

NOTE 10.  SUBSEQUENT EVENTS

The Company evaluated subsequent events and transactions
that occurred after the balance sheet date through the date that the unaudited condensed consolidated financial statements were issued.
Based upon this review, other than stated below, the Company did not identify any subsequent events that have required adjustment or disclosure
in the unaudited condensed consolidated financial statements.

On July 1, 2025, the Company paid $941,366 to
settle the Company’s 2024 income taxes payable, including the associated penalties and interests. Also, on July 1, 2025, the Company
paid an additional $96,552 for the Company’s estimated 2025 income taxes payable. The Company used the amounts previously withdrawn
from Trust Account to settle the income taxes payable.

On July 2, 2025, the Company paid $197,558 to
settle the Company’s franchise taxes payable, including the associated penalties and interests, $80,000 of which pertains to the
payment of the Company’s estimated franchise taxes for 2025. The Company used the amounts previously withdrawn from Trust Account
to settle the franchise taxes payable. 

On July 4