Company: IBACR
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010982
Chunk: 62

Company: IB Acquisition Corp.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 62
---
 facts and involve risks and uncertainties that could cause actual results to
differ materially from those expected and projected. All statements, other than statements of historical fact included in this Form 10-Q
including, without limitation, statements in this “Management’s Discussion and Analysis of Financial Condition and Results
of Operations” regarding the completion of the Proposed Business Combination (as defined below), the Company’s financial
position, business strategy and the plans and objectives of management for future operations, are forward-looking statements. Words such
as “expect,” “believe,” “anticipate,” “intend,” “estimate,” “seek”
and variations and similar words and expressions are intended to identify such forward-looking statements. Such forward-looking statements
relate to future events or future performance, but reflect management’s current beliefs, based on information currently available.
A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed
in the forward-looking statements, including that the conditions of the Proposed Business Combination are not satisfied. For information
identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements,
please refer to the Risk Factors section of the Company’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange
Commission (the “SEC”) on December 26, 2024. The Company’s securities filings can be accessed on the EDGAR section
of the SEC’s website at www.sec.gov. Except as expressly required by applicable securities law, the Company disclaims any intention
or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Overview

We
are a blank check company originally formed under the laws of the State of Delaware on July 7, 2020 and which converted to a Nevada corporation
on September 21, 2023 for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar
business combination with one or more businesses (the “Business Combination”). We intend to effectuate our Business Combination
using cash from the proceeds of the Initial Public Offering and the sale of the Private Placement Units, our capital stock, debt or a
combination of cash, stock and debt.

We
expect to continue to incur significant costs in the pursuit of our acquisition plans. We cannot assure you that our plans to complete
a Business Combination will be successful.

Results
of Operations

We
have neither engaged in any