Company: GSRF
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-111032
Chunk: 93

Company: GSR IV Acquisition Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 2
Chunk 93
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mate a Business Combination within the Completion
Window or that liquidity will be sufficient to fund operations. The financial statements do not include any adjustments relating to the
recovery of the recorded assets or the classification of the liabilities that might be necessary should the Company be unable to continue
as a going concern.

Results of Operations 

Our entire activity since
inception up to September 30, 2025 relates to our formation and the Initial Public Offering, and since the Initial Public Offering, our
search for a Business Combination. We will not generate any operating revenues until the closing and completion of our initial Business
Combination, at the earliest. We generate non-operating income from the proceeds held in the Trust Account.

For the three months ended
September 30, 2025, we had a net income of $488,891, which consisted of non-operating income earned on the Trust Account and operating
account of $662,826, partially offset by loss from operations of $173,935 consisting of general and administrative expenses.

For the nine months ended
September 30, 2025, we had a net income of $407,791, which consisted of non-operating income earned on the Trust Account and operating
account of $662,826, partially offset by loss from operations of $255,035 consisting of general and administrative expenses.

For the three and nine months
ended September 30, 2024, we had a net loss of zero and $6,317, respectively, which consisted of loss from operations consisting of general
and administrative expenses.

Contractual Obligations

Administrative Services Agreement

Commencing on September 5,
2024, the Company has entered into an agreement to pay the Sponsor a total of up to $55,556 per month for office space and administrative
and support services. Upon completion a Business Combination or its liquidation, the Company will cease paying these monthly fees. For
the three and nine months ended September 30, 2025, the Company incurred $55,556 in fees for these services which are included within
general and administrative expenses in the statements of operations (none for the three and nine months ended September 30, 2024). There
were no related amounts payable as of September 30, 2025 or December 31, 2024..

20

Promissory Note

On June 6, 2024, the
Sponsor agreed to loan the Company up to $300,000 pursuant to a promissory