Company: TLGYF
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001213900-25-125608
Chunk: 616

Company: TLGY ACQUISITION CORP
Filing Date: 2025-12-29
Form: S-4/A
Chunk 616
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 consummation of the planned SPAC transaction. If additional financing is required from outside sources, the Company may not be able to raise it on terms acceptable to the Company or at all. If the Company is unable to raise additional capital when desired, the Company’s business would be materially and adversely affected. F-76 StablecoinX Assets Inc. Notes to Financial Statements June 30, 2025 Note 1. Description of Business (cont.) As a result of the above, in connection with the Company’s assessment of going concern considerations in accordance with Financial Accounting Standard Board’s (“FASB”) Accounting Standards Update (“ASU”) No. 2014 -15, “ Presentation of Financial Statements — Going Concern (Subtopic 205 -40 ) Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern,” management has determined that the Company’s liquidity condition raises substantial doubt about the Company’s ability to continue as a going concern through a year from the date these financial statements are available to be issued. Note 2. Summary of Significant Accounting Policies Basis of Presentation The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) and reflect all adjustments, including normal recurring adjustments, which, in the opinion of management, are necessary to present fairly the financial position, results of operations, and cash flows for the periods presented in accordance with U.S. GAAP. Use of Estimates The preparation of the financial statements in accordance with U.S. GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods presented. Actual results could differ from these estimates. Receivable from Stockholders Receivable from stockholders, is recorded at the promised amount of cash to be contributed to the Company by the Founders in exchange for the issuance of common stock. In August 2025, the outstanding balance was paid in full (see Notes 3 and 8). Intangible Assets The Company’s finite -livedintangible asset, a perpetual royalty -freesoftware license, was contributed to the Company on June 30, 2025, is carried at cost, and is amortized on a straight -linebasis over the estimated remaining economic life of five years. The straight -linemethod of amortization represents the Company’s best estimate of the distribution of the economic value of the identifiable intangible