Company: BDCIU
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109324
Chunk: 26

Company: BTC Development Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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 exercisable on a cashless basis and be non-redeemable.

NOTE 8. SEGMENT INFORMATION

ASC Topic 280, “Segment
Reporting,” establishes standards for companies to report in their financial statement information about operating segments, products,
services, geographic areas, and major customers. Operating segments are defined as components of an enterprise for which separate financial
information is available that is regularly evaluated by the Company’s CODM, or group, in deciding how to allocate resources and
assess performance.

The Company’s CODM
has been identified as the Chief Financial Officer, who reviews the assets, operating results, and financial metrics for the Company as
a whole to make decisions about allocating resources and assessing financial performance. Accordingly, management has determined that
the Company only has one reportable segment.

13

BTC DEVELOPMENT CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

SEPTEMBER 30, 2025

(UNAUDITED) 

NOTE 8. SEGMENT INFORMATION (cont.)

The CODM assesses performance
for the single segment and decides how to allocate resources based on net income or loss that also is reported on the condensed statements
of operations as net income or loss. The measure of segment assets is reported on the condensed balance sheets as total assets. When evaluating
the Company’s performance and making key decisions regarding resource allocation, the CODM reviews several key metrics included
in net income or loss and total assets, which include the following:

     September 30, 2025   Cash  $2,886,023   Cash held in Trust Account  $2,000,000  

    For the Nine Months Ended September 30 

    2025  
    2024 
  
    Formation, general and administrative costs 
    $98,107  
    $492 

Formation, general and administrative costs are
reviewed and monitored by the CODM to manage and forecast cash to ensure enough capital is available to complete a business combination
or similar transaction within the business combination period. The CODM also reviews formation, general and administrative costs to manage,
maintain and enforce all contractual agreements to ensure costs are aligned with all agreements and budget. Formation, general and administrative
costs, as reported on the condensed statements of operations, are the significant segment expenses provided to the CODM on a regular basis.

All other segment items included in net income
or loss are reported on the condensed statements of operations and