Company: DTSQ
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001417
Chunk: 962

Company: DT Cloud Star Acquisition Corp
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 962
---
. 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 December 31, 2024 and December 31, 2023, the principal amount due under the Working Capital Loan was
$0.

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 December 31, 2024, 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) ordinary share upon consummation of a Business Combination, even if the
holder of such right redeemed all shares held by it in connection with a Business Combination. No fractional shares will be issued upon
exchange of the rights. No additional consideration will be required to be paid by a holder of rights in order to receive its additional
shares upon consummation of a Business Combination as the consideration related thereto has been included in the Unit purchase price
paid for by investors in the Initial Public Offering. If the Company enters into a definitive agreement for a Business Combination in
which the Company will not be the surviving entity, the definitive agreement will provide for the holders of rights to receive the same
per share consideration the holders of the ordinary shares will receive in the transaction on an as-converted into ordinary share basis
and each holder of a right will be required to affirmatively convert its rights in order to receive 1/9 share underlying each right (without
paying additional consideration). The shares issuable upon exchange of the rights will be freely tradable (except to the extent held
by affiliates of the Company).

    F-16

DT
CLOUD STAR ACQUISITION CORPORATION

NOTES
TO AUDITED FINANCIAL STATEMENTS

NOTE
7 – COMMITMENTS AND CONTINGENCIES

Risks
and Uncertainties

Management
continues to evaluate the long-term  impact of the COVID-19 pandemic and has concluded that while it is