Company: COPL-UN
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001829126-25-009051
Chunk: 44

Company: Copley Acquisition Corp
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 2
Chunk 44
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 period to include approximately $200,000 for legal, accounting, due diligence, travel and other expenses in connection with any business combinations; $75,000 for legal and accounting fees related to regulatory reporting requirements; $85,000 for NYSE continued listing fees; $100,000 for directors’ and officers’ insurance and $15,001 for general working capital that will be used for miscellaneous expenses and reserves, net of estimated interest income.

These amounts are estimates and may differ materially from our actual expenses. If our available funds are not sufficient, we may be unable to continue searching for, or conducting due diligence with respect to, prospective target businesses.

Moreover, if our estimates of the costs of identifying
a target business, undertaking in-depth due diligence and negotiating an initial business combination are less than the actual amount
necessary to do so, we may have insufficient funds available to operate our business prior to our initial business combination. Moreover,
we may need to obtain additional financing either to complete our initial business combination or because we become obligated to redeem
a significant number of our public shares upon completion of our initial business combination, in which case we may issue additional securities
or incur debt in connection with such business combination.

Going Concern Consideration

As of September 30, 2025, the Company had cash of $92,221 and a working
capital surplus of $27,392. The Company has incurred and expects to continue to incur significant costs as a publicly traded company,
to evaluate business opportunities, and to close on a business combination. Such costs will be incurred prior to generating any operating
revenues. In connection with the Company’s assessment of going concern considerations in accordance with Financial Accounting Standards
Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 205-40, “Presentation of Financial Statements
- Going Concern,” management had determined that the Company lacks the financial resources it needs to sustain operations for a reasonable
period of time, which is considered to be one year from the date of the issuance of the condensed financial statements. This liquidity
condition raises substantial doubt about the Company’s ability to continue as a going concern.

To address this uncertainty, the Company is currently
evaluating several options to improve its liquidity position. These include raising additional capital through loans or additional investments
from its Sponsor, shareholders, officers, directors, or third parties. The Company’s officers, directors, and Sponsor may, but are
not obligated to, provide working capital loans to the Company in such amounts and on such terms as they