Company: TBMC
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075720
Chunk: 145

Company: Trailblazer Merger Corp I
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 2
Chunk 145
---
5, or such earlier date as determined by the Board in its sole discretion, unless the closing of a business
combination shall have occurred prior thereto; and (b) to remove the provision which permitted the withdrawal of $100,000 from the trust
account of the Company in order to pay dissolution expenses. For each monthly extension approved by the Board, the monthly payment required
to be deposited into the Trust Account to extend the Termination Date by one month should be the lesser of (i) $0.035 for each outstanding
share of Public Stock after giving effect to the redemption, and (ii) $100,000.

In connection with the stockholders’
vote at the Annual Meeting, 4,520,384 shares were tendered for redemption.

On October 9, 2024,
$49,774,936, or approximately $11.01 redemption price per share, was withdrawn from the Trust Account to pay the redeeming holders and
the 4,520,384 shares of the Company’s Class A common stock that were redeemed were cancelled.

Results of Operations

We have neither engaged in
any operations nor generated any revenues to date. Our only activities for the period November 12, 2021 (inception) through June 30, 2025
were organizational activities, those necessary to prepare for the Initial Public Offering, described below, and identifying a target
company for a Business Combination. We do not expect to generate any operating revenues until after the completion of our Business Combination.
We generate non-operating income in the form of interest income on marketable securities held in the Trust Account. We incur expenses
as a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence
expenses.

For the three months ended
June 30, 2025, we had a net loss of $240,257, which consists of general and administrative expenses of $445,636, and provision for income
taxes of $79,161, offset by interest earned on marketable securities held in Trust Account of $284,540.

For the six months ended
June 30, 2025, we had a net loss of $691,082, which consists of general and administrative expenses of $1,111,291, and provision for income
taxes of $144,216, offset by interest earned on marketable securities held in Trust Account of $564,425.

For the three months ended