Company: JACS-RI
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001213900-25-073677
Chunk: 12

Company: Jackson Acquisition Co II
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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 the requirements that apply to non-emerging growth companies
but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means
that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging
growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison
of the Company’s financial statements with another public company which is neither an emerging growth company nor an emerging growth
company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting
standards used.

Use of Estimates

The preparation of the condensed financial statements
in conformity with GAAP requires management 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 condensed financial statements and the reported amounts of revenues
and expenses during the reporting periods.

Making estimates requires management to exercise
significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances
that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near
term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.

Cash and Cash Equivalents

The Company considers all short-term investments
with an original maturity of three months or less when purchased to be cash equivalents. The Company had $721,661 and $949,366 in cash
and no cash equivalents as of June 30, 2025 and December 31, 2024, respectively.

10

Marketable Securities Held in Trust Account

At June 30, 2025 and December 31, 2024, substantially
all of the assets held in the Trust Account were held in money market funds which are invested primarily in U.S. Treasury securities.
All of the Company’s investments held in the Trust Account are classified as trading securities. Trading securities are presented
on the condensed balance sheets at fair value at the end of each reporting period. Gains and losses resulting from the change in fair
value of investments held in the Trust Account are included in interest earned on marketable securities held in Trust Account in the
accompanying unaudited condensed statement of operations. The estimated fair values of investments held in Trust Account are determined
using available market information. Fair