Company: EMCRF
Filing Date: 2025-12-10
Form Type: 10-Q
Source: 0001493152-25-027065
Chunk: 4

Company: Embrace Change Acquisition Corp.
Filing Date: 2025-12-10
Form: 10-Q
Item: Part I, Item 1
Chunk 4
---
    $(5,749,907) 
    $(5,749,677)

The
accompanying notes are an integral part of these unaudited interim consolidated financial statements.

3

EMBRACE
CHANGE ACQUISITION CORP.

CONSOLIDATED
STATEMENTS OF CASH FLOWS

(Unaudited)

    2025  
    2024 

    For the nine months ended September 30, 

    2025  
    2024 
  
    Cash flow from operating activities: 

    Net (loss) income 
    $(169,811) 
    $1,212,138 
  
    Adjustments to reconcile net income (loss) to net cash used in operating activities: 

    Investment income earned on cash and investments held in Trust Account 
     (831,949) 
     (2,072,719)
  
    Loss on modification of deferred underwriting commission 
     -  
     378,501 
  
    Interest expense 
     3,413  
     3,513 
  
    Changes in operating assets and liabilities: 

    Prepaid expenses 
     (21,250) 
     (20,250)
  
    Accounts payable and accrued expenses 
     608,043  
     91,037 
  
    Net cash used in operating activities 
     (411,554) 
     (407,780)

    Cash flows from investing activities: 

    Investment of cash in Trust Account 
     (525,000) 
     (775,000)
  
    Cash held by trustee 
     (25,000) 
     - 
  
    Cash withdrawn from Trust Account in connection with redemption 
     -  
     33,296,263 
  
    Net cash provided by (used in) investing activities 
     (550,000) 
     32,521,263 

    Cash flow from financing activities: 

    Proceeds from convertible promissory note - related party 
     -  
     451,000 
  
    Proceeds from promissory note - third party 
     -  
     300,000 
  
    Proceeds from related party for working capital purpose 
     -  
     89,525 
  
    Proceeds from third party for working capital purpose 
     900,000  
     600,000