Company: FSHPU
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001829126-25-008620
Chunk: 2

Company: Flag Ship Acquisition Corp
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 2
---
 Flag Ship Acquisition Corporation
     
    $
    0.06

    $
    0.06

    $
    0.19

    $
    0.10

See accompanying notes to unaudited financial statements.

2

FLAG SHIP ACQUISITION CORPORATION

UNAUDITED STATEMENTS OF CHANGES IN SHAREHOLDERS’ DEFICIT

(Currency expressed in United States Dollars (“US$”), except for number of shares)

    For the three and nine months ended September 30, 2025

    Ordinary shares

        Additional paid-in

        Accumulated

        Total shareholders’ 

    No. of shares

    Amount

    capital

    deficit

    deficit

    Balance as of January 1, 2025

    1,963,000

    $
    1,963

    $
    -

    $
    (2,266,700
    )
     
    $
    (2,264,737
    )

    Subsequent remeasurement of ordinary shares subject to redemption

    -

    -

    -

    (739,769
    )

    (739,769
    )

    Net income

    -

    -

    -

    577,698

    577,698

    Balance as of March 31, 2025

    1,963,000

    $
    1,963

    $
    -

    $
    (2,428,771
    )
     
    $
    (2,426,808
    )

    Subsequent remeasurement of ordinary shares subject to redemption

    (742,274
    )

    (742,274)

    Net income

    -

    -

    -

    589,626

    589,626

    Balance as of June 30, 2025

    1,963,000

    $
    1,963

    $
    -

    $
    (2,581,419
    )
     
    $
    (2,579,456
    )

    Subsequent remeasurement of ordinary shares subject to redemption 
     -  
     -  
     -  
     (690,097) 
     (690,097)

    Extension funds attributable to ordinary shares subject to redemption 

     (60,000) 
     (60,000)

    Net income 
     -  
     -