Company: FCRS
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110990
Chunk: 58

Company: FutureCrest Acquisition Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 58
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 480-10-S99, the Company
classifies Public Shares subject to possible redemption outside of permanent equity as the redemption provisions are not solely within
the control of the Company. The Company recognizes changes in redemption value immediately as they occur and will adjust the carrying
value of redeemable shares to equal the redemption value at the end of each reporting period. Immediately upon the closing of the Initial
Public Offering, the Company recognized the accretion from initial book value to redemption value. The change in the carrying value of
redeemable shares will result in charges against additional paid-in capital (to the extent available) and accumulated deficit. Accordingly,
as of September 30, 2025, Class A ordinary shares subject to possible redemption are presented at redemption value as temporary equity,
outside of the shareholders’ deficit section of the Company’s balance sheet. As of September 30, 2025, the Class A ordinary
shares subject to possible redemption reflected in the balance sheet are reconciled in the following table:

    Gross proceeds 
    $287,500,000 
  
    Less: 

    Proceeds allocated to Public Warrants 
     (2,982,813)
  
    Public Shares issuance costs 
     (17,662,164)
  
    Plus: 

    Remeasurement of carrying value to redemption value 
     20,668,828 
  
    Class A ordinary shares subject to possible redemption, September 30, 2025 
    $287,523,851 

9

FUTURECREST ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENT

SEPTEMBER 30, 2025

(Unaudited)

Recent Accounting Pronouncements

In November 2023, the FASB issued Accounting
Standards Update (“ASU”) 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.”
The amendments in this ASU require disclosures, on an annual and interim basis, of significant segment expenses that are regularly provided
to the chief operating decision maker (“CODM”), as well as the aggregate amount of other segment items included in the reported
measure of segment profit or loss. The ASU requires that a public entity disclose the title and position of the CODM and an explanation
of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate
resources. Public entities will be required to provide