Company: TGE
Filing Date: 2025-06-24
Form Type: F-1
Source: 0001213900-25-057225
Chunk: 238

Company: Generation Essentials Group
Filing Date: 2025-06-24
Form: F-1
Chunk 238
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Account, if less than $10.00 per public Share due to reductions in the value of the trust assets, in each case net of the amount of interest
which may be withdrawn for any permitted withdrawals, except as to any claims by a third party who executed a waiver of any and all rights
to seek access to the Trust Account and except as to any claims under the Company’s indemnity of the underwriters of the Initial
Public Offering against certain liabilities, including liabilities under the Securities Act of 1933, as amended (the “Securities
Act”). Moreover, in the event that an executed waiver is deemed to be unenforceable against a third party, the Sponsor will not
be responsible to the extent of any liability for such third-party claims. The Company will seek to reduce the possibility that the Sponsor
will have to indemnify the Trust Account due to claims of creditors by endeavoring to have all vendors, service providers (except for
the Company’s independent registered accounting firm), prospective target businesses and other entities with which the Company does
business, execute agreements with the Company waiving any right, title, interest or claim of any kind in or to monies held in the Trust
Account.

NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying financial statements are presented
in U.S. dollars and have been prepared in accordance with accounting principles generally accepted in the United States of America
(“U.S. GAAP”) and pursuant to the accounting and disclosure rules and regulations of the Securities and Exchange
Commission (the “SEC”).

<div align='center'>F-9

BLACK SPADE ACQUISITION II CO
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2024</div>

NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.)

Liquidity and Capital Resources

As of December 31, 2024, the Company had $2,117,016
in cash and working capital of $1,111,916. In connection with the Company’s assessment of going concern considerations in accordance
with ASC 205-40, “Going Concern, “as of December 31, 2024, the Company has sufficient funds for the working capital
needs of the Company until a minimum of one year from the date of issuance of these financial statements. The Company cannot be assured
that its plans to consummate an Initial Business Combination will be successful.