Company: APAD
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-108829
Chunk: 94

Company: AParadise Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 2
Chunk 94
---
 incur significant transaction costs in pursuit of the consummation
of a business combination. In connection with the Company’s assessment of going concern considerations in accordance with Financial
Accounting Standard Board’s Accounting Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an
Entity’s Ability to Continue as a Going Concern,” management has determined that these conditions raise substantial doubt
about the Company’s ability to continue as a going concern. The management’s plan in addressing this uncertainty is through
the Working Capital Loans, as defined below (see Note 5). In addition, if the Company is unable to complete a business combination within
the Combination Period, or by July 31, 2027 (assuming no extensions), the Company’s board of directors would proceed to commence
a voluntary liquidation and thereby a formal dissolution of the Company. There is no assurance that the Company’s plans to consummate
a business combination will be successful. As a result, management has determined that such additional condition also raises substantial
doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments that might
result from the outcome of this uncertainty.

Off-Balance Sheet Arrangements

We have no obligations, assets or liabilities,
which would be considered off-balance sheet arrangements as of September 30, 2025. We do not participate in transactions that create relationships
with unconsolidated entities or financial partnerships, often referred to as variable interest entities, which would have been established
for the purpose of facilitating off-balance sheet arrangements. We have not entered into any off-balance sheet financing arrangements,
established any special purpose entities, guaranteed any debt or commitments of other entities, or purchased any non-financial assets.

Contractual obligations

We do not have any long-term debt, capital lease
obligations, operating lease obligations or long-term liabilities, other than described below.

Registration Rights

The holders of the Founder Shares, Private Placement
Units, and units that may be issued on conversion of Working Capital Loans (and in each case holders of their component securities, as
applicable) will be entitled to registration rights pursuant to a registration rights agreement signed on the effective date of the IPO.
The holders of these securities are entitled to make up to three demands, excluding short form demands, that the Company registers such
securities. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements
filed subsequent to the