Company: EMCRF
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001641172-25-024827
Chunk: 4

Company: Embrace Change Acquisition Corp.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 4
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 Cash at the beginning of the period 
     66,985  
     5,308 
  
    Cash at the end of the period 
    $469  
    $4,532 

    Supplemental disclosure of non-cash financing activities: 

    Re-measurement of ordinary shares subject to redemption(1) 
    $544,509  
    $1,490,735 
  
    Extension funds attributable to ordinary shares subject to redemption 
    $150,000  
    $300,000 
  
    Deferred underwriting fee payable 
    $-  
    $378,501 

    (1)
    The
    value of ordinary share subject to redemption was re-measured with investment income earned on cash and investments held in Trust
    Account.

The
accompanying notes are an integral part of these unaudited interim consolidated financial statements.

4

EMBRACE
CHANGE ACQUISITION CORP.

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)

NOTE
1. DESCRIPTION OF ORGANIZATION, BUSINESS OPERATIONS AND GOING CONCERN

Embrace
Change Acquisition Corp. (the “Company”) is a blank check company incorporated in the Cayman Islands on March 3, 2021. The
Company was formed for the purpose of acquiring, engaging in a share exchange, share reconstruction and amalgamation with, purchasing
all or substantially all of the assets of, entering into contractual arrangements with, or engaging in any other similar business combination
with one or more businesses or entities (“Business Combination”). The Company may pursue a business combination target in
any business or industry.

As
of June 30, 2025, the Company had not yet commenced any operations. All activity through June 30, 2025 relates to the Company’s
formation, the Initial Public Offering (as defined below) and after the Initial Public Offering, searching for and identifying a Business
Combination target, and prepare for a Business Combination. The Company will not generate any operating revenues until after the completion
of its Business Combination, at the earliest. The Company will generate non-operating income in the form of interest income on cash and
cash equivalents from the proceeds derived from the IPO (as defined below). The Company has selected December 31 as its fiscal year end.
The Company is an early stage and emerging growth company and, as such, the Company is subject to all of the risks associated with early
stage