Company: SPEG
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110444
Chunk: 12

Company: Silver Pegasus Acquisition Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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2025, the Company had operating
cash of $452,101 and a working capital surplus of $521,849. The Company intends to use the funds held outside the Trust Account primarily
to identify and evaluate target businesses, perform business due diligence on prospective target businesses, travel to and from the offices,
plants or similar locations of prospective target businesses or their representatives or owners, review corporate documents and material
agreements of prospective target businesses, and structure, negotiate and complete a Business Combination.

In connection with the Company’s assessment
of going concern considerations in accordance with ASC 205-40, “Going Concern,” as of September 30, 2025, the Company may
need to raise 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, loan the Company funds, from time to time
or at any time, in whatever amount they deem reasonable in their sole discretion, to meet the Company’s working capital needs.
Accordingly, the Company may not be able to obtain additional financing. If the Company is unable to raise additional capital, it may
be required to take additional measures to conserve liquidity, which could include, but not necessarily be limited to, curtailing operations,
suspending the pursuit of a potential transaction, and reducing overhead expenses. The Company cannot provide any assurance that new
financing will be available to it on commercially acceptable terms, if at all.

The Company’s liquidity condition raises
substantial doubt about the Company’s ability to continue as a going concern for a period of time within one year after the date
that the accompanying condensed financial statements are issued. Management plans to address this uncertainty through a Business Combination.
No adjustments have been made to the carrying amounts of assets or liabilities should the Company be required to liquidate after the
Combination Period. The Company intends to complete the initial Business Combination before the end of the Combination Period. However,
there can be no assurance that the Company will be able to consummate any Business Combination by the end of the Combination Period.

7

SILVER PEGASUS ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

SEPTEMBER 30, 2025

(Unaudited) 

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES

Basis of Presentation

The accompanying unaudited condensed financial statements have been
prepared in accordance with