Company: NMP
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109359
Chunk: 99

Company: NMP Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 2
Chunk 99
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ited condensed  financial statements contained elsewhere in this report.

21

Contractual Obligations

We do not have any long-term
debt, capital lease obligations, operating lease obligations or long-term liabilities, other than the accrual of $20,000 per month pursuant
to the administrative services agreement we have entered into with the Sponsor for its office space, utilities and secretarial and administrative
support. Upon completion of the initial business combination or our liquidation, assuming there is cash available, the administrative
services agreement will terminate, and we will cease accruing these monthly fees and will pay the outstanding amounts under the administrative
services agreement.

The Sponsor agreed to loan
up to $100,000 to the Company pursuant to the terms of the Note, which amount was increased to $300,000 on June 23, 2025, pursuant to
an amendment to the Note, and may be further increased to $500,000 if we and the Sponsor agree, to cover organizational, offering-related
and post-offering expenses. These loans underlying the Note are non-interest bearing, unsecured and are due on the date in which we consummate
our initial business combination or on the date of its dissolution deadline, assuming there is cash available. As of September 30, 2025,
we owed $5,093 to the Sponsor under the Note.

Critical Accounting Estimates

The preparation of financial
statements and related disclosures in conformity with accounting principles generally accepted in the United States of America requires
management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets
and liabilities at the date of the financial statements, and income and expenses during the periods reported. Actual results could materially
differ from those estimates. As of September 30, 2025, we have not identified any critical accounting policies or estimates.

JOBS Act

On April 5, 2012, the Jumpstart
Our Business Startups Act of 2012 (the “JOBS Act”) was signed into law. The JOBS Act contains provisions that, among other
things, relax certain reporting requirements for qualifying public companies. We will qualify as an “emerging growth company”
and under the JOBS Act will be allowed to comply with new or revised accounting pronouncements based on the effective date for private
(not publicly traded) companies. We are electing to delay the adoption of new or revised accounting standards, and as a result, we may
not comply with new or revised accounting standards on the