Company: CSTAF
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027555
Chunk: 445

Company: Constellation Acquisition Corp I
Filing Date: 2025-04-02
Form: 10-K
Item: Item 1B
Chunk 445
---
 operations and cash flows is also not determinable as of the date of these financial
statements.

In 2024 there have been growing tensions between
China and Taiwan. As a result of these growing tensions and the potential for it to grow into a conflict, instability in Asia and various
other regions of the world may occur and effect the world economy and relationships between trading nations. Various nations, including
the United States, may take actions that may further affect the world economy as a result of such tensions. Such effects on the world
economy are not determinable as of the date of these financial statements. The specific impact on the Company’s financial condition,
results of operations and cash flows is also not determinable as of the date of these financial statements.

Liquidity and Going Concern Consideration

As of December 31, 2024, the Company had
$5,303 in its operating bank account and a working capital deficit of $5,573,504, net of the convertible promissory note – related
party. Convertible promissory note - related party amounting to $3,181,000 is not expected to be settled out of the current assets.

The Company is within 12 months of its mandatory
liquidation as of the time of filing this Annual Report on Form 10-K. In connection with the Company’s assessment of going concern
considerations in accordance with Accounting Standards Update 2014-15, “Disclosures of Uncertainties about an Entity’s Ability
to Continue as a Going Concern,” the liquidity condition and mandatory liquidation raise substantial doubt about the Company’s
ability to continue as a going concern until the earlier of the consummation of the Business Combination or the Termination Date.

These financial statements do not include any
adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should the
Company be unable to continue as a going concern.

As such, management plans to consummate a Business
Combination prior to the mandatory liquidation date. If the Company’s estimates of the costs of identifying a target business, undertaking
in-depth due diligence and negotiating a Business Combination are less than the actual amount necessary to do so, the Company may have
insufficient funds available to operate its business prior to an initial Business Combination. Moreover, the Company may need to obtain
additional financing either to complete an initial Business Combination or because it becomes obligated to redeem a significant number
of its Public Shares upon completion of an initial Business Combination