Company: CSTAF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110128
Chunk: 88

Company: Constellation Acquisition Corp I
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 88
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conomy are not determinable as of the date of these unaudited condensed financial statements. The specific impact on the Company’s
financial condition, results of operations and cash flows is also not determinable as of the date of these unaudited condensed financial
statements.

On July 2025, the One Big Beautiful Bill Act
(“OBBBA”) was enacted into law in the United States. The significant provisions of OBBBA include the permanent extension
and modification of certain provisions of the Tax Cuts and Jobs Act, including international tax provisions. The legislation has multiple
effective dates, with certain provisions effective in 2025 and others implemented in later years. The Company is evaluating the provisions
of OBBBA but it is not expected to have a material impact on the Company’s unaudited condensed financial statements.

Liquidity and Going Concern Consideration

As of September 30, 2025, the Company had $8,808
in its operating bank account and a working capital deficit of $6,546,604, net of the convertible promissory note – related party.
Convertible promissory note - related party amounting to $3,181,000 is not expected to be settled out of the current assets.

The Company is within 12 months of its mandatory
liquidation as of the time of filing this Quarterly Report on Form 10-Q (the “Quarterly Report”). In connection with the
Company’s assessment of going concern considerations in accordance with Accounting Standards Codification (“ASC”) Topic 205-40,
“Presentation of Financial Statements—Going Concern”, the liquidity condition and mandatory liquidation
raise substantial doubt about the Company’s ability to continue as a going concern until the earlier of the consummation of the
Business Combination or the Termination Date.

These unaudited condensed financial statements
do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be
necessary should the Company be unable to continue as a going concern.

As such, management plans to consummate a Business
Combination prior to the mandatory liquidation date. If the Company’s estimates of the costs of identifying a target business,
undertaking in-depth due diligence and negotiating a Business Combination are less than the actual amount necessary to do so, the Company
may have insufficient funds available to operate its business prior to an initial Business Combination. Moreover, the Company may need
to obtain additional financing either to complete an initial Business Combination or because it becomes obligated to redeem