Company: CSLMF
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076682
Chunk: 48

Company: CSLM ACQUISITION CORP.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 48
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 – related party, and $37,640 of interest, general and administrative expenses, offset by $170,545
dividends on marketable securities held in the Trust Account

For the six months ended June 30, 2025, we had a net loss of $2,265,769
which consisted of a $1,822,844 loss on extinguishment of debt, $492,006 of legal and accounting expenses, $90,522 of insurance expense,
$68,992 of dues and subscriptions expense, $60,000 of administrative expense – related party, and $70,508 of interest, general and
administrative expenses, offset by $339,103 dividends on marketable securities held in the Trust Account

For the three months ended June 30, 2024, we had a net income of $422,450,
which consisted of $689,680 dividends on marketable securities held in the Trust Account and $190,000 of covenant fees, offset by $225,000
of expected credit losses, $99,110 of legal and accounting expenses, $50,659 of insurance expense, $28,720 of dues and subscriptions expense,
$30,000 of administrative expense – related party, and $23,741 of interest, general and administrative expenses.

For the six months ended June 30, 2024, we had a net income of $570,542,
which consisted of $1,369,022 dividends on marketable securities held in the Trust Account and $225,000 of covenant fees, offset by $225,000
of expected credit losses, $514,438 of legal and accounting expenses, $114,113 of insurance expense, $67,601 of dues and subscriptions
expense, $60,000 of administrative expense – related party, and $42,328 of interest, general and administrative expenses.

23

Liquidity and Capital Resources

As of June 30, 2025 and December 31, 2024, the Company had $14,041
and $83,227 in cash, respectively, and a working capital deficit of $4,958,706 and $4,056,679, respectively, excluding Marketing Securities
held in the Trust Account and the Deferred Underwriter Fee liability.

The Company’s liquidity needs through June 30, 2025 had been
satisfied through a payment from the Sponsor of $25,000 for Class B ordinary shares, par value $0.0001 per share (“Class