Company: TLGYF
Filing Date: 2025-09-29
Form Type: S-4
Source: 0001213900-25-092592
Chunk: 563

Company: TLGY ACQUISITION CORP
Filing Date: 2025-09-29
Form: S-4
Chunk 563
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 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 period from June 30, 2025 (Inception) through June 30, 2025, the Company did not recognize any impairment expense related to its long -livedasset F-65 StablecoinX Assets Inc. Notes to Financial Statements June 30, 2025 Note 2. Summary of Significant Accounting Policies (cont.) Concentration of Credit Risk As of June 30, 2025, amounts outstanding from two related parties accounted for 100% of the Company’s receivable from stockholders (see Note 5). Income Taxes The Company is subject to income taxes in the U.S. The Company uses the asset -and -liabilitymethod for income taxes. Under this method, deferred tax assets and liabilities are determined based on differences between the financial statement carrying amounts and tax bases of assets and liabilities and operating loss and tax credit carryforwards and are measured using the enacted tax rates that are expected to be in effect when the differences reverse. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are established on a jurisdiction -by -jurisdictionbasis when necessary to reduce deferred tax assets to an amount that, in the opinion of management, is more likely than not to be realized. Net Loss Per Share Basic and diluted net loss per share attributable to common stockholders is presented in conformity with the two -classmethod required for participating securities. The two -classmethod determines net income (loss) per share for each class of common and participating securities according to dividends declared or accumulated and participation rights in undistributed earnings. The two -classmethod requires income (loss) available to common stockholders for the period to be allocated between common and participating securities based upon their respective rights to shares in undistributed earnings as if all income (loss) for the period had been distributed. As of June 30, 2025, the Company has no other participating securities other than the two classes of common stock. Basic net loss per share is calculated by dividing the net loss attributable to common stockholders by the weighted -averagenumber of common stock outstanding during the period, without consideration of potentially dilutive