Company: LEGT
Filing Date: 2025-07-02
Form Type: 10-Q
Source: 0001829126-25-004857
Chunk: 3

Company: Legato Merger Corp. III
Filing Date: 2025-07-02
Form: 10-Q
Item: Part I, Item 1
Chunk 3
---
 Ended May 31, 2024

    Ordinary Shares

    AdditionalPaid-In

    Accumulated

    Shareholders’ (Deficit)

    Shares

    Amount

    Capital

    Deficit

    Equity

    Balance at November 30, 2023

    5,118,750

    $
    512

    $
    24,988

    $
    (17,632
    )
     
    $
    7,868

    Sale of private placement units

    555,625

    56

    5,556,194

    -

    5,556,250

    Initial classification of warrants included in the units sold in the Initial Public Offering

    -

    -

    1,308,125

    -

    1,308,125

    Ordinary shares - accretion to possible redemption value

    -

    -

    (6,889,307
    )

    (5,043,366
    )

    (11,932,673
    )

    Net income

    -

    -

    -

    530,107

    530,107

    Balance at February 29, 2024 (unaudited)

    5,674,375

    568

    -

    (4,530,891
    )

    (4,530,323
    )

    Ordinary shares - accretion to possible redemption value

    -

    -

    -

    (2,848,581
    )

    (2,848,581
    )

    Net income

    -

    -

    -

    2,682,228

    2,682,228

    Balance at May 31, 2024 (unaudited)

    5,674,375

    $
    568

    $
    -

    $
    (4,697,244
    )
     
    $
    (4,696,676
    )

The accompanying notes are an integral part of these unaudited condensed financial statements.

3

LEGATO MERGER CORP. III UNAUDITED CONDENSED STATEMENTS OF CASH FLOWS

        For the Six Months Ended May 31, 2025

        For the
        Six Months Ended May 31, 2024

    Cash flows from operating activities

    Net income
     
    $
    4,052,647

    $
    3