Company: AAM-UN
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0001213900-25-022743
Chunk: 155

Company: AA Mission Acquisition Corp.
Filing Date: 2025-03-11
Form: 10-K
Item: Item 1B
Chunk 155
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 revenues until after completion of our initial business
combination. We will generate non-operating income in the form of interest income on cash and cash equivalents after the IPO. There has
been no significant change in our financial or trading position and no material adverse change has occurred since the date of our audited
financial statements. After the IPO, we incur increased expenses as a result of being a public company (for legal, financial reporting,
accounting and auditing compliance), as well as for expenses associated with the search for target opportunities.

For the period from February 9, 2024 (inception) through December 31,
2024, we had a net income of $5,855,202 which consists of loss of $769,833 derived from operating costs offset by income earned on Trust
and Bank Account of $6,625,035.

Going Concern Consideration

As of December 31, 2024, we had cash of $417,897 and a working capital
of $21,271. We have incurred and expect to continue to incur significant professional costs to remain as a public traded company and to
incur transaction costs in pursuit of a Business Combination. In connection with our assessment of going concern considerations in accordance
with Accounting Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s Ability
to Continue as a Going Concern,” we believe that these conditions raise substantial doubt about our ability to continue as a going
concern. In addition, if we are unable to complete a Business Combination within the Combination Period and such period is not extended,
there will be a liquidation and subsequent dissolution. As a result, we have determined that such additional condition also raises substantial
doubt about our ability to continue as a going concern. The financial statements do not include any adjustments that might result from
the outcome of the uncertainty.

15

Liquidity and Capital Resources

On August 2, 2024, we consummated our IPO
of Units, at $10.00 per Unit, generating gross proceeds of $300,000,000. Simultaneously with the closing of our IPO, we consummated the
sale of 759,000 Private Placement Units at a price of $10.00 per Private Placement Unit in a private placement to the Sponsors, generating
total gross proceeds of $7,590,000.

On September 4, 2024, the underwriters exercised
the over-allotment option in