Company: SIMA
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043361
Chunk: 3

Company: SIM Acquisition Corp. I
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 3
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    Balance - March 31, 2025 
     -  
    $-  
     7,666,667  
    $767  
    $-  
    $(10,120,563) 
    $(10,119,796)

    Balance - January 29, 2024 (inception) 
     -  
    $-  
     -  
    $-  
    $-  
    $-  
    $- 
  
    Issuance of Class B Ordinary Shares to Sponsor (1) 
     -  
     -  
     7,666,667  
     767  
     24,233  
     -  
     25,000 
  
    Net loss 
     -  
     -  
     -  
     -  
     -  
     (28,464) 
     (28,464)
  
    Balance - March 31, 2024 
     -  
    $-  
     7,666,667  
    $767  
    $24,233  
    $(28,464) 
    $(3,464)

(1)This number includes up to 1,000,000 Class B ordinary shares
subject to forfeiture if the over-allotment option was not exercised in full or in part by the underwriters (see Note 5). In May 2024,
the Company effected a share dividend of 0.33 shares for each Class B ordinary share outstanding, resulting in our initial shareholders
holding an aggregate of 7,666,667 founder shares (up to 1,000,000 shares of which were subject to forfeiture depending on the extent
to which the underwriters’ over-allotment option was exercised). All share and per share data have been retroactively restated
to reflect this change.

The accompanying notes are an integral part of the condensed financial statements.

3

SIM ACQUISITION CORP. I

CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED)

    For the 
three 
months 
ended 
March 31,
 2025  
    For the 
period
 from 
January 29, 2024 
(inception) to
 March 31,
 2024 
  
    Cash Flows from Operating Activities 

    Net income