Company: EMCRF
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001829126-25-003812
Chunk: 3

Company: Embrace Change Acquisition Corp.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 3
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    )
     
    $
    307,277

    Adjustments to reconcile net income
    (loss) to net cash used in operating activities:

    Investment income earned on cash and
    investments held in Trust Account

    (267,363
    )

    (735,578
    )
  
    Loss on modification of deferred underwriting commission

    -

    378,501

    Interest expense

    1,125

    -

    Changes in operating assets and liabilities:

    Prepaid expenses

    (63,750
    )

    -

    Accounts payable and accrued expenses

    169,856

    (27,925
    )
  
    Net cash used in operating activities

    (249,756
    )

    (77,725
    )

    Cash flows from investing activities:

    Investment of cash in Trust Account

    -

    (300,000
    )
  
    Net cash used in investing activities

    -

    (300,000
    )

    Cash flow from financing activities:

    Proceeds from
    convertible promissory note - related party

    -

    370,000

    Proceeds from related party for working capital purpose

    -

    7,725

    Proceeds from third party for working capital purpose

    200,000

    -

    Net cash provided by financing activities

    200,000

    377,725

    Net
    change in cash

    (49,756
    )

    -

    Cash at the beginning of the period

    66,985

    5,308

    Cash at the end of the period
     
    $
    17,229

    $
    5,308

    Supplemental disclosure of non-cash financing activities:

    Re-measurement of ordinary shares
    subject to redemption(1)
     
    $
    267,363

    $
    735,578

    Extension funds attributable to ordinary shares subject to redemption
     
    $
    -

    $
    300,000

    Deferred underwriting fee payable
     
    $
    -

    $
    378,501

    (1)
    The value of ordinary
    share subject to redemption was re-measured with investment income earned on cash and investments held in Trust
    Account. 

The accompanying notes are an integral part of these unaudited interim consolidated financial statements.

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EMBRACE CHANGE ACQUIS