Company: BLUWU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024010
Chunk: 78

Company: Blue Water Acquisition Corp. III
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 78
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 the Trust Account; and (iv) vote any founder shares and Private Placement Shares held by them and any
Public Shares purchased during or after the Initial Public Offering (including in open market and privately-negotiated transactions,
aside from shares they may purchase in compliance with the requirements of Rule 14e-5 under the Exchange Act, which would not be voted
in favor of approving the Business Combination transaction) in favor of the initial Business Combination.

Note
5 — Segment Information

ASC
Topic 280, Segment Reporting, establishes standards for companies to report, in their financial statements, information about operating
segments, products, services, geographic areas, and major customers. Operating segments are defined as components of an enterprise that
engage in business activities from which it may recognize revenues and incur expenses, and for which separate financial information is
available that is regularly evaluated by the Company’s chief operating decision maker, or group, in deciding how to allocate resources
and assess performance.

The
Company’s chief operating decision maker (“CODM”) has been identified as the Chief Financial Officer, who reviews the
assets, operating results, and financial metrics for the Company as a whole to make decisions about allocating resources and assessing
financial performance. Accordingly, management has determined that the Company only has one reporting segment.

    12 

The
CODM assesses performance for the single segment and decides how to allocate resources based on net income or loss that also is reported
on the statement of operations as net income or loss. The measure of segment assets is reported on the balance sheet as total assets.
When evaluating the Company’s performance and making key decisions regarding resource allocation, the CODM reviews several key
metrics included in total assets and net income (loss), which include the following:

 Schedule
of Segment Information

    June 30, 
  
    Assets: 
    2025 
  
    Cash 
    $1,039,666 
  
    Cash and marketable securities held in Trust Account 
    $253,556,881 
  
    Total Assets 
    $254,639,362 

The
CODM reviews cash to assess if the Company has sufficient resources available to discharge its current liabilities, and whether the Company
can leverage its cash position with other liquid assets to do so or whether the Company may need to seek additional funding. The CODM
also review cash and marketable securities held in Trust Account to ensure sufficient capital is available to complete a business combination
or similar transaction within the business combination period.