Company: IBACR
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010982
Chunk: 76

Company: IB Acquisition Corp.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 76
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282,137, which consists of operating costs.

Factors
That May Adversely Affect our Results of Operations

Our
results of operations and our ability to complete an initial Business Combination may be adversely affected by various factors that could
cause economic uncertainty and volatility in the financial markets, many of which are beyond our control. Our results of operations and
our ability to consummate an initial Business Combination could be impacted by, among other things, downturns in the financial markets
or in economic conditions, increases in oil prices, inflation, fluctuations in interest rates, increases in tariffs, supply chain disruptions,
declines in consumer confidence and spending, public health considerations, and geopolitical instability, such as the military conflicts
in Ukraine and the Middle East. We cannot at this time predict the likelihood of one or more of the above events, their duration or magnitude
or the extent to which they may negatively impact our business and our ability to complete an initial Business Combination.

Liquidity
and Capital Resources

On
March 28, 2024, we completed the Initial Public Offering of 11,500,000 Units, which includes the full exercise by the underwriters of
their over-allotment option in the amount of 1,500,000 Units, at a purchase price of $10.00 per Unit, generating gross proceeds of $115,000,000.
Simultaneously with the closing of the Initial Public Offering, we completed the sale of 610,500 Units at a price of $10.00 per Unit
in a private placement to the Sponsor, generating gross proceeds of $6,105,000.

Transaction
costs amounted to $7,755,845 consisting of the fair value amount of $3,867,050 related with the issued representative shares, $3,450,000
of cash underwriting discount, and $438,795 of other offering costs.

For
the six months ended March 31, 2025, cash used in operating activities was $1,119,424. Net income of $1,731,194 was affected by the interest
and dividends earned on cash and investments held in Trust Account of $2,621,671 and change in operating assets and liabilities which
used $228,947 of cash for operating activities.

For
the six months ended March 31, 2024, cash used in operating activities was $181,868. Net loss of $282,137 was affected by the change
in operating assets and liabilities that provided $