Company: PGACR
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-075873
Chunk: 55

Company: PANTAGES CAPITAL ACQUSITION Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 55
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 it has different application
dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private
companies adopt the new or revised standard. This may make comparison of the Company’s unaudited financial statements with another
public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition
period difficult or impossible because of the potential differences in accounting standards used.

Use of Estimates

The preparation of the unaudited financial statements
in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities
and disclosure of contingent assets and liabilities at the date of the unaudited financial statements and the reported amounts of expenses
during the reporting period. Actual results could differ from those estimates.

Cash and Cash Equivalents

The Company considers all short-term investments
with an original maturity of three months or less when purchased to be cash equivalents. The Company had $294,644 and $533,006 cash
in bank as of June 30, 2025 and December 31, 2024, respectively.

Cash and Investments Held in Trust Account

As of June
30, 2025 and December 31, 2024, the Company had $88,316,420 and $86,518,878 in Cash and investments
held in Trust Account, which are invested in money market funds which invest in U.S. Treasury securities.

8

Concentration of Credit Risk

Financial
instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution,
which, at times, may exceed the Federal Depository Insurance Coverage (“FDIC”) of $250,000. As of June 30, 2025 and December
31, 2024, $44,644 and $283,006, respectively, were over the FDIC limit. The Company has not experienced losses on these accounts.

Offering Costs

The Company complies with the requirements of
Accounting Standards Codification (“ASC”) 340-10-S99-1 and SEC Staff Accounting Bulletin (“SAB”) Topic 5A — Expenses
of Offering. Deferred offering costs consist of underwriting, legal, and other expenses incurred through the balance sheet date that
are directly related to the IPO and were charged to shareholders’ equity upon the completion of the IPO. 

Net Income Per Share

The Company