Company: DTSQ
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001493152-25-020876
Chunk: 27

Company: DT Cloud Star Acquisition Corp
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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 For the three and nine months ended September 30, 2025, the Company incurred $30,000 and
$90,000 for these services in total, included in General and administrative expenses. For the three and nine months ended September 30,
2024, the Company incurred $20,000 and $20,000 for these services in total. During the nine months ended September 30, 2025 and 2024,
we paid administrative expense of $90,000 and $nil, respectively.

Working
Capital Loans

In
order to finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor or certain of
the Company’s directors and officers may, but are not obligated to, loan the Company funds as may be required (“Working Capital
Loans”). If the Company completes a Business Combination, the Company would repay the Working Capital Loans out of the proceeds
of the Trust Account released to the Company. Otherwise, the Working Capital Loans would be repaid only out of funds held outside the
Trust Account. In the event that a Business Combination does not close, the Company may use a portion of proceeds held outside the Trust
Account to repay the Working Capital Loans, but no proceeds held in the Trust Account would be used to repay the Working Capital Loans.
Except for the foregoing, the terms of such Working Capital Loans, if any, have not been determined and no written agreements exist with
respect to such loans. The Working Capital Loans would either be repaid upon consummation of a Business Combination, without interest,
or, at the lender’s discretion, up to $300,000 converted upon consummation of our business combination into private units at a
price of $10.00 per unit. As of September 30, 2025 and December 31, 2024, the principal amount due under the Working Capital Loan was
nil and nil.

NOTE
6 – SHAREHOLDERS’ DEFICIT

Ordinary
Shares

The
Company is authorized to issue 500,000,000 ordinary shares, with a par value $0.0001 per share. Holders of the Company’s ordinary
shares are entitled to one vote for each share.

As
of September 30, 2025, there were 2,000,900 ordinary shares issued and outstanding, excluding 6,900,000 ordinary shares subject to possible
redemption.

Rights
— Each holder of a right will receive one-ninth (1/9