Company: IBACR
Filing Date: 2025-02-13
Form Type: 10-Q
Source: 0001493152-25-006426
Chunk: 0

Company: IB Acquisition Corp.
Filing Date: 2025-02-13
Form: 10-Q
Item: Part I, Item 1
Chunk 0
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IB
ACQUISITION CORP.

BALANCE
SHEETS
(UNAUDITED)

    December 31, 2024  
    September 30, 2024 
  
    Assets 

    Current assets 

    Cash 
    $910,193  
    $822,799 
  
    Prepaid expenses 
     8,329  
     36,216 
  
    Short-term prepaid insurance 
     254,625  
     339,500 
  
    Total current assets 
     1,173,147  
     1,198,515 

    Marketable securities held in trust account 
     119,658,403  
     118,601,873 
  
    Total Assets 
    $120,831,550  
    $119,800,388 

    Liabilities and Stockholders’ Equity 

    Current liabilities 

    Accounts payable and accrued expenses 
    $90,162  
    $86,718 
  
    Income taxes payable 
     608,533  
     635,512 
  
    Promissory note 
     147,629  
     — 
  
    Total current liabilities 
     846,324  
     722,230 
  
    Total Liabilities 
     846,324  
     722,230 

    Commitments and Contingencies (Note 6) 
     -  
     - 

    Common stock subject to possible redemption, 11,500,000 shares at redemption value of $10.35 and $10.26 per share as of December 31, 2024 and September 30, 2024 
     119,049,870  
     117,966,361 

    Stockholders’ Equity 

    Preferred stock, $0.0001 par value, 10,000,000 shares authorized, no shares issued and outstanding as of December 31, 2024 and September 30, 2024 
     —  
     — 
  
    Common stock, $0.0001 par value, 100,000,000 shares authorized, 4,249,090 shares issued and outstanding as of December 31, 2024 and September 30, 2024 
     425  
     425 
  
    Additional paid-in capital 
     —  
     —