Company: FSHPU
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001829126-25-008620
Chunk: 1

Company: Flag Ship Acquisition Corp
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 1
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    )

    (2,264,737
    )

    TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT
     
    $
    32,638,896

    $
    70,971,620

See accompanying notes to unaudited financial statements.

1

FLAG SHIP ACQUISITION CORPORATION

UNAUDITED STATEMENTS OF OPERATIONS

(Currency expressed in United States Dollars (“US$”), except for number of shares)

    For the three months ended September 30,

    For the  nine months ended  September 30,

    2025

    2024

    2025

    2024

    Formation, general and administrative expenses
     
    $
    (236,596
    )
     
    $
    (402,971
    )
     
    $
    (551,315
    )
     
    $
    (556,780
    ) 

    Other income:

    Interest and dividends earned on investments held in Trust Account

    690,097

    891,298

    2,172,140

    989,243

    Total other income, net

    690,097

    891,298

    2,172,140

    989,243

    Income before income taxes

    453,501

    488,327

    1,620,825

    432,463

    Income taxes

    -

    -

    -

    -

    NET INCOME
     
    $
    453,501

    $
    488,327

    $
    1,620,825

    $
    432,463

    Basic and diluted weighted average shares outstanding, ordinary shares subject to possible redemption

    5,273,241

    6,900,000

    6,351,788

    2,568,613

    Basic and diluted net income per ordinary shares subject to possible redemption
     
    $
    0.06

    $
    0.06

    $
    0.19

    $
    0.10

    Basic and diluted weighted average shares outstanding, ordinary shares attributable to Flag Ship Acquisition Corporation

    1,963,000

    1,963,000

    1,963,000

    1,813,599

    Basic and diluted net income, ordinary shares attributable to