Company: IPCX
Filing Date: 2025-01-16
Form Type: S-1/A
Source: 0001213900-25-003974
Chunk: 313

Company: Inflection Point Acquisition Corp. III
Filing Date: 2025-01-16
Form: S-1/A
Chunk 313
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4. Deferred Offering Costs Deferred offering costs consist of underwriting, legal, and other expenses incurred through the balance sheet date that are directly related to the Proposed Offering. Offering costs will be allocated to the separable financial instruments issued in the Initial Public Offering based on a relative fair value basis, compared to total proceeds received. Offering costs allocated to Class A ordinary shares will be charged against the carrying value of Class A ordinary shares upon the completion of the Proposed Public Offering. Should the Proposed Offering prove to be unsuccessful, these deferred costs, as well as additional expenses incurred, will be charged to operations. Income Taxes The Company accounts for income taxes under ASC 740, “Income Taxes” (“ASC 740”), which prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more -likely - than-notto be sustained upon examination by taxing authorities. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of September 30, 2024. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company is subject to income tax examinations by major taxing authorities since inception. F-10 INFLECTION POINT ACQUISITION CORP. III
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2024 Note 2 — Summary of Significant Accounting Policies (cont.) There is currently no taxation imposed on income by the Government of the Cayman Islands. In accordance with Cayman income tax regulations, income taxes are not levied on the Company. Consequently, income taxes are not reflected in the Company’s financial statements. The Company’s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months. Net Loss Per Ordinary Share Net loss per ordinary share is computed by dividing net loss by the weighted average number of ordinary shares outstanding during the periods, excluding ordinary shares subject to forfeiture. Weighted average shares were reduced for the effect of an aggregate of 1,100,000 ordinary shares that are subject to forfeiture if the over -allotmentoption is not exercised by the underwriters (see Note 5). At September 30, 2024, the Company did not have any dilutive securities and other contracts that could, potentially, be exercised