Company: DTSQ
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001417
Chunk: 100

Company: DT Cloud Star Acquisition Corp
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 100
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 funds that are sufficient to fund the working
capital needs of us until the consummation of an initial business combination or the winding up of our company as stipulated in the amended
and restated memorandum and articles of association. The accompanying financial statements have been prepared in conformity with U.S.
GAAP, which contemplate continuation of our company as a going concern.

60

Liquidity
and Capital Resources  

We consummated the initial public offering of 6,900,000 units, which includes the exercise in full by the underwriters
of their over-allotment option to purchase up to an additional 900,000 units on July 25, 2024. The units were sold at an offering price
of $10.00 per unit, generating gross proceeds of $69,000,000. Simultaneously with the closing of our initial public offering on July
26, 2024, we consummated the private placement with the sponsor of 206,900 units at a price of $10.00 per private unit, generating total
gross proceeds of $2,069,000. 

Following
our initial public offering and the private placement, a total of $69,000,000 of the net proceeds were deposited in the trust account.
We intend to use substantially all of the funds held in the trust account, including any amounts representing interest earned on the
trust account (excluding deferred underwriting commissions and less taxes payable) to complete our initial business combination. We may
withdraw interest from the trust account to pay our taxes. To the extent that our equity or debt is used, in whole or in part, as consideration
to complete our initial business combination, the remaining proceeds held in the trust account will be used as working capital to finance
the operations of the target business or businesses, make other acquisitions and pursue our growth strategies. We intend to use the funds
held outside the trust account primarily for identifying and evaluating prospective acquisition candidates, performing business due diligence
on prospective target businesses, traveling to and from the offices, plants or similar locations of prospective target businesses, reviewing
corporate documents and material agreements of prospective target businesses, selecting the target business to acquire and structuring,
negotiating and consummating the business combination.

For
the year ended December 31, 2024, cash used by operating activities was $196,752, primarily due to prepayment of formation and operational
costs. Net cash used in investing activates was $69,000,000 to