Company: TLGYF
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001213900-25-125608
Chunk: 598

Company: TLGY ACQUISITION CORP
Filing Date: 2025-12-29
Form: S-4/A
Chunk 598
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 Company during the period from inception through September 30, 2025, is carried at cost, and is amortized on a straight -linebasis over the estimated remaining economic life of five years. The straight -linemethod of amortization represents the Company’s best estimate of the distribution of the economic value of the identifiable intangible assets. The factors that were considered in determining the useful lives of identifiable intangible asset included the extent to which expected future cash flows would be affected by the Company’s intent and ability to retain use of this asset. During the three months ended September 30, 2025 and the period from Inception through September 30, 2025, the Company recorded $25,125 of amortization expense related to the intangible asset. Intangible assets, net, consisted of the following as of September 30, 2025:

|                  |     | Gross carrying 
 amount         |         |     | Accumulated  
 amortization |   |     | Net Book 
 Value    |         |     |    Weighted 
     average 
   remaining 
 useful life 
  (in years) |
|:-----------------|:----|:---------------|--------:|:----|:-------------|:--|:----|:---------|--------:|:----|------------:|
| Software license |     | $              | 502,500 |     | (25,125      | ) |     | $        | 477,375 |     |         1.0 |

Impairment of Long-Lived Assets Whenever events or changes in circumstances indicate that the carrying amount of long -livedassets may not be recoverable, the Company estimates the expected undiscounted future cash flows from the use of those assets and their eventual disposition (without any allocated debt financing charges). The Company conducts an intangible impairment analysis at least annually and more frequently if changes in facts and circumstances indicate that the fair value of the intangible asset may be less than its carrying amount. If the sum of the expected undiscounted future cash flows is less than the carrying amount of those assets, the Company recognizes an impairment loss based on the excess of the carrying amount over the fair value of the assets. For the three months ended September 30, 2025 and the period from inception through September 30, 2025, the Company did not recognize any impairment expense related to its long -livedasset.

F-61 StablecoinX Assets Inc. Notes to Unaudited Condensed Financial Statements