Company: APAD
Filing Date: 2025-09-12
Form Type: 10-Q
Source: 0001213900-25-087285
Chunk: 30

Company: AParadise Acquisition Corp.
Filing Date: 2025-09-12
Form: 10-Q
Item: Part I, Item 8
Chunk 30
---
 materially differ from those estimates. We have not identified any critical accounting estimates
and critical accounting policies.

Recent Accounting Standards 

In December 2023, the FASB issued ASU 2023-09,
Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09), which requires disclosure of incremental income tax information
within the rate reconciliation and expanded disclosures of income taxes paid, among other disclosure requirements. ASU 2023-09 is effective
for fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company adopted ASU 2023-09 on January 1, 2025 and
there was no significant impact. 

In November 2023, the FASB issued ASU No. 2023-07,
Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires the disclosure of additional segment information.
ASU No. 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after
December 15, 2024. The Company adopted this guidance on January 1, 2024.

The Company’s management does not believe
that any other recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the
accompanying unaudited condensed financial statements.

19

Item 3. Quantitative and Qualitative Disclosures
About Market Risk

As smaller reporting company, we are not required to make disclosures
under this Item.

Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

Disclosure controls and procedures are designed
with the objective of ensuring that information required to be disclosed by us in our Exchange Act reports is recorded, processed, summarized,
and reported within the time periods specified in the SEC’s rules and forms. Disclosure controls are also designed with the objective
that such information is accumulated and communicated to our management, including our principal executive officer and principal financial
officer or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

Our management evaluated, with the participation
of our management, including our principal executive officer and principal financial and accounting officer, the effectiveness of our
disclosure controls and procedures as of the end of the fiscal quarter ended June 30, 2025, as such term is defined in Rules 13a-15(e)
and 15d-15(e) under the