Company: DTSQ
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001493152-25-020876
Chunk: 14

Company: DT Cloud Star Acquisition Corp
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 14
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 has the same effect as if the Company had formally gone through a voluntary liquidation procedure under
the Companies Act (As Revised) of the Cayman Islands. Accordingly, no vote would be required from our shareholders to commence such a
voluntary winding up, dissolution and liquidation.

On
October 22, 2025, the Company entered into an amendment (the “Trust Amendment”) to the Investment Management Trust Agreement
(the “Trust Agreement”), with Wilmington Trust National Association. Pursuant to the Trust Amendment, the Company has the
right to extend the time for it to complete its Business Combination (the “Combination Period”) under the Trust Agreement
for a period for 12 months from October 26, 2025 to October 26, 2026 by depositing into the Trust Account $75,000 for all remaining public
shares (the “Extension Payment”) for each one-month extension. On October 23, 2025, the Company deposited the initial payment of $75,000
in the Trust Account, to initially extend the date by which the Company can complete an initial business combination by one month to November
26, 2025.

If
the Company is unable to consummate the Company’s initial Business Combination by October 26, 2026 (unless further extended), the
Company will, as promptly as possible but not more than ten business days thereafter, redeem 100% of the Company’s outstanding
public shares for a pro rata portion of the funds held in the Trust Account, including a pro rata portion of any interest earned on the
funds held in the Trust Account and not necessary to pay taxes, and then seek to liquidate and dissolve. However, the Company may not
be able to distribute such amounts as a result of claims of creditors which may take priority over the claims of the Company’s
public shareholders. In the event of dissolution and liquidation, the Company’s rights will expire and will be worthless.

In
connection with the Company’s assessment of going concern considerations in accordance with Accounting Standards Update (“ASU”)
2014-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern,” management has determined
that if the Company is unsuccessful in consummating an initial business combination within the prescribed period of time from the closing
of the IPO, the requirement that the Company cease all operations, redeem the public shares and thereafter liquidate and dissolve raises
substantial doubt about the ability to continue as a