Company: TBMC
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043357
Chunk: 115

Company: Trailblazer Merger Corp I
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 115
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 to give written instructions, provided that
we shall promptly confirm such instructions in writing. We will Pay the Trustee the fees set forth in the agreement, including an initial
acceptance fee, annual administration fee, and transaction processing fee which fees shall be subject to modification by the parties
from time to time.

27

In
connection with the Annual Meeting held on September 26, 2024, the Company amended its investment management trust agreement, dated as
of March 28, 2023, by and between the Company and Continental Stock Transfer & Trust Company, to allow the Company to extend the
date by which the Company must consummate a business combination up to twelve times, each such extension for an additional one month
period, until September 30, 2025 and to remove the provision in permitting the withdrawal of $100,000 of dissolution expenses from the
trust account of the Company.

Critical
Accounting Estimates

Certain
of our accounting policies require that management apply significant judgments in defining the appropriate assumptions integral to financial
estimates. On an ongoing basis, management reviews the accounting policies, assumptions, estimates and judgments to ensure that our financial
statements are presented fairly and in accordance with U.S. GAAP. Judgments are based on historical experience, terms of existing contracts,
industry trends and information available from outside sources, as appropriate. Some of the more significant estimates are in connection
with determining the fair value of the stock-based compensation and the derivative financial instruments at the time of the initial public
offering. However, by their nature, judgments are subject to an inherent degree of uncertainty, and, therefore, actual results could
differ from our estimates. We have not identified any critical accounting estimates as of March 31, 2025.

Recent
Accounting Standards

In
December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09), which requires
disclosure of incremental income tax information within the rate reconciliation and expanded disclosures of income taxes paid, among
other disclosure requirements. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company has not yet adopted the ASU 2023-09 and is currently evaluating its impact on the Company’s financial statements and
related disclosures.

In
November 2023, the FASB issued ASU 202