Company: SPEG
Filing Date: 2025-08-25
Form Type: 10-Q
Source: 0002077096-25-000055
Chunk: 48

Company: Silver Pegasus Acquisition Corp.
Filing Date: 2025-08-25
Form: 10-Q
Item: Part I, Item 8
Chunk 48
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ification obligations, nor has the Company independently verified whether
the Sponsor has sufficient funds to satisfy its indemnity obligations, and the Company believes that the Sponsor’s only assets are
securities of the Company. Therefore, the Company cannot assure that the Sponsor would be able to satisfy those obligations.

6

SILVER PEGASUS ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2025

(UNAUDITED)

NOTE 2. SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying unaudited condensed financial
statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”)
for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X of the U.S. Securities
and Exchange Commission (“SEC”). Certain information or footnote disclosures normally included in financial statements prepared
in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting.
Accordingly, they do not include all the information and footnotes necessary for a complete presentation of financial position, results
of operations, or cash flows. In the opinion of management, the accompanying unaudited condensed financial statements include all adjustments,
consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results and
cash flows for the periods presented.

The accompanying unaudited condensed financial
statements should be read in conjunction with the Company’s prospectus for its Initial Public Offering as filed with the SEC on
July 15, 2025, as well as the Company’s Current Report on Form 8-K, as filed with the SEC on July 23, 2025. The interim results
for the three and six months ended June 30, 2025, are not necessarily indicative of the results to be expected for the year ending December
31, 2025 or for any future periods.

Liquidity and Capital Resources

In connection with the Company’s assessment
of going concern considerations in accordance with FASB ASC 205-40, “Presentation of Financial Statements — Going Concern”,
as of June 30, 2025, the Company does not have sufficient liquidity to meet its current obligations. However, management has determined
that the Company has access to funds from Sponsor (or its affiliates) and following July 16, 2025 (including following